The holding company for the New Zealand Steel mill at Glenbrook, near Auckland, has posted a 26.7 percent drop in tax-paid earnings in the year to June 30, according to Companies Office records filed before shortly before Christmas. Profit fell to $95.3 million from $126.4 million a year earlier, the bare bones accounts for Tasman Steel Holdings show. The company …

The New Zealand dollar extended its decline from a four-year high against the yen as traders pondered the pace of monetary easing by the Bank of Japan that has weakened its currency against most trading peers. The New Zealand dollar dropped to 72.8 yen from 73.10 yen at 5pm in Wellington yesterday. The kiwi slipped to 83.49 US cents from …

Equities on both sides of the Atlantic weakened at the start of the fourth-quarter earnings season in the US that is expected to show tepid growth in corporate profits. Quarterly earnings are expected to increase by 2.7 percent, according to Thomson Reuters data. “People are concerned about earnings,” Ken Polcari, director of the NYSE floor division at O’Neil Securities in …