Rick Lucas Helicopters, which owns the red helicopter tourism company HeliPro, has been tipped into receivership by its director. Sole director of the business Rick Lucas appointed PwC partners John Fisk and David Bridgman as receivers for the Palmerston North-based company and its related businesses, the accounting firm said in a statement. The HeliPro business employs 70 people and has 35 helicopters across its …

The New Zealand dollar gained as markets dial back their support for the US dollar as they await more information from the US Federal Reserve on its plans to shift away from running a zero interest rate policy. The kiwi rose to 78.31 US cents at 8am in Wellington from 77.96 cents yesterday. The trade-weighted index was little changed at 77.19 …

Equities on both sides of the Atlantic dropped, along with oil, after a report showed Germany’s industrial output slumped more than expected in August, while the International Monetary Fund downgraded its forecasts for the global economy. The euro-zone’s engine economy is spluttering. A government report showed German production, adjusted for seasonal swings, sank 4 percent in August, after increasing 1.6 …