The New Zealand dollar is heading for a 2.8 percent slide against the greenback this week after Reserve Bank governor Graeme Wheeler jawboned down the kiwi and Fonterra Cooperative Group cut its forecast payout to farmers, as global investors start eyeing higher interest rates in the US. The kiwi fell to 78.98 US cents at 5pm in Wellington from 81.24 cents …

Pumpkin Patch, the second-worst performing stock on the NZX All Index the past 12 months, turned to a loss in 2014 and signalled earnings are unlikely to improve for another year. The Auckland-based children’s clothing chain posted a loss of $10.2 million, or 6 cents a share, in the 12 months ended July 31, from a profit of $5.1 million, or …

Burger Fuel Worldwide, the NZAX-listed fast food chain franchisor, plans to bring its franchise stores in-house which it expects will deliver greater profitability, and has bought the Henderson, Auckland store for an undisclosed sum. The Auckland-based fast food chain is targeting at least a 20 percent return on investment from its company-owned stores, and is considering opening its own restaurants in selected …