New Zealand shares rose, led by Telecom as equity markets worldwide took heart from signs of progress on fiscal cliff talks in Washington that may help the US economy avoid recession. Tech stocks Diligent Board member Services and Xero both made new highs. The NZX 50 Index rose 12.76 points, or 0.3 percent, to 3979.25. Within the index, 19 stocks …

The Public Sector Pension Investment Board –  one of Canada’s largest pension investment managers – has agreed to buy 30 per cent of  Kaingaroa Forest from Harvard University’s endowment fund. Harvard will retain a 28.75% stake in Kaingaroa Forest after completion of the transaction, which remains subject to regulatory approval and other customary closing conditions. As part of the transaction, …

Telecom chief financial officer Nick Olson has left the second-biggest company on the stock exchange to take control of the finances of Fletcher Building, the biggest company on the bourse. Fletcher chief executive Mark Adamson said he was delighted Olson agreed to the join the company from April next year, replacing long-serving chief financial officer Bill Roest, who retires next …