The New Zealand dollar recovered some ground on Friday after figures showed a shrinking US trade deficit and gains on Wall Street helped stoke risk appetite. The kiwi dollar traded at 83.54 US cents from 83.49 cents in late New York trading on Friday, having recovered from below 83 cents in Asia at the end of last week. The trade-weighted …

Eastern Bay of Plenty electricity lines company Horizon Energy has sliced its forecast earnings by a fifth on the cost of regulation and last year’s Aquaheat acquisition, and signalled there may be more to come due to its exposure to the collapse of Mainzeal Property and Construction. The Whakatane-based company expects to post net profit of $3.4 million in the …

Investors will closely eye President Barack Obama’s State of the Union address on Tuesday for his take on the economic recovery and the status of negotiations towards lifting the US debt ceiling as he details plans for his second term in office. Last week’s market action showed just how easily investor confidence can be shaken-and reclaimed-at the moment. “I think …