Property for Industry, the listed industrial property investor, reported a 7.5 percent fall in annual earnings as the company rejigged its portfolio with some asset sales and dealt with vacancies in the year, though management is optimistic about the coming year. Distributable profit, the favoured measure for property companies because it strips out unrealised changes in the fair value of …

The New Zealand dollar fell from record highs on a trade-weighted basis and against the pound on speculation it may have run too hard after a string of strong economic figures. The kiwi dollar traded at 54.40 British pence, little changed from late New York trading on Friday and down from a post-float high of 55.08 pence at the end …

Economic growth worldwide, deemed “still too weak”, remained a key concern at a two-day meeting of Group of 20 finance ministers and central bank governors, which stopped short of asking countries to refrain from targeting exchange rates. As central banks of the US, Europe and Japan have stepped in to help revive their economies by effectively weakening their currencies, other …