Billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings (CKI) is describing New Zealand as a core investment destination after it beefed up its presence with $501 million purchase of EnviroWaste. The biggest user of waste material by mass in Hong Kong is looking to leverage its expertise in materials handling as it expands into waste management, while collecting a steady income …

The New Zealand dollar was under pressure in early trading after being sold-off overnight in London. The kiwi was at 83.93 US cents at 8am, little changed from 83.94 cents at 5.25pm on Tuesday. But it slumped from 84.19 cents to about 83.75 cents before recovering in overnight trading. There appeared to have been a large kiwi-euro flow in London …

Wall Street was mixed as concerns about the US debt ceiling, and the potential impact on the economy, moved to the fore. Treasury Secretary Timothy Geithner warned that failure to lift the US$16.4 trillion debt limit by early March would “impose severe economic hardship.” Fitch Ratings on Tuesday said it expects that Congress will raise the debt ceiling and that …