The New Zealand dollar touched a record against the euro as the European common currency slumped in the first week of the European Central Bank’s bond-buying programme. The kiwi hit a record 69.96 euro cents on Saturday morning, and was trading at 69.86 cents at 8am in Wellington, from 69.47 cents at 5pm on Friday. The local currency slipped to 73.21 US …

The key focus in the coming days will be how the US Federal Reserve tweaks its monetary policy position, and what that means for the timing of an interest rate increase. Last week, the US dollar continued its ascent in anticipation of a lift in rates, rising to the highest level in 12 years against the euro and the highest …

Callaghan Innovation, the government backed innovation hub, faced questions this week from opposition MPs about why it had funded companies that subsequently failed and gave grants to unprofitable subsidiaries of wealthy overseas firms, or local firms that moved offshore. Chair Sue Suckling, chief executive Mary Quin and chief financial officer Richard Perry were appearing before the parliament’s education and science select committee …