The New Zealand dollar tumbled more than half a US cent after Reserve Bank governor Graeme Wheeler invoked two of the conditions for the bank to intervene in currency markets, saying its strength was “unjustified and unsustainable” given the decline in commodity prices. Wheeler repeated the words he used in the July 24 official cash rate review in a statement titled: …

The Financial Markets Authority received fewer complaints in its 2014 financial year after the David Ross Ponzi investigation sparked a flood on inquiries in 2013, and had just 30 open cases at the end of the period. The financial markets watchdog received 839 complaints in the 12 months ended June 30, down from 1,273 a year earlier when investors in …

Pacific Edge, the medical biotech company, has been awarded a Japanese patent for its colorectal cancer screening technology, as the company looks to expand its range of diagnostic tests internationally. The shares rose on open. The Dunedin-based biotech is looking to commercialise its Cxcolorectal test in Japan, where colorectal is the nation’s most prevalent cancer, it said in a statement. The …