Can Washington make a deal on the budget and avoid the tax increases of the looming “fiscal cliff?” Major Garrett has a first look at President Obama’s proposals and the Republican reaction.

The historic listing of Fonterra units on the NZX caused mammoth volumes by New Zealand market standards and the biggest listing day stag that investors have seen for years. The non-voting units, which launched at midday today, surged as high as $6.95, a 26 percent stag before closing at $6.85 from an offer price of $5.50. The fund’s turnover was …

The New Zealand dollar is set to end the month virtually unchanged against the greenback as US politicians try to navigate away from the fiscal cliff and trans-Tasman central banks prepare to review monetary policy next week. The kiwi traded at 82.23 US cents at 5pm in Wellington from 82.24 cents at 8am, and down from 82.41 cents yesterday. The …