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 …

The New Zealand dollar was little changed in local trading as traders await US talks to avert the US$600 billion fiscal cliff and after New Zealand’s Treasury pared back its growth forecasts. The kiwi traded at 84.42 US cents at 5pm in Wellington from 84.36 cents at 8.30am and 84.39 cents yesterday. The trade-weighted index was 75.26 from 75.27 yesterday. …