Pyne Gould Corp’s managing director George Kerr will dilute his stake in the financial services firm if it goes ahead with a planned share issue, which will increase its stake in Equity Partners Infrastructure Co No 1, the so-called EPIC fund, which holds a minority stake in a UK motorway operator, Moto. The Guernsey-based firm wants to lift its stake in the EPIC,  fund to …

New Zealand shares rose in a global rally as Wall Street climbed to records overnight, while a falling New Zealand dollar further supported local stocks. Kathmandu Holdings rose, paced by Fletcher Building and A2 Milk Co. The NZX 50 Index gained 27.163 points, or 0.5 percent, to 5181.345. Within the index, 32 stock rose, nine fell and nine were unchanged. Turnover was $153 million. …

The New Zealand dollar is heading for a 0.2 percent weekly decline against the greenback, after the prospect for higher US interest rates pushed the local currency to a seven-month low. The local currency traded at 81.37 US cents at 5pm in Wellington from 81.51 cents on Friday in New York last week. It traded at 81.43 cents at 8am, up …