Skellerup Holdings, the rubber goods and dairy equipment manufacturer, is to build a $30 million factory at the Wigram Business Park in Christchurch developed by Ngai Tahu Property, to replace its earthquake-damaged facility in the suburb of Woolston. Skellerup awarded the designs and build contract to Calder Stewart Industries, the Auckland-based company said in a statement. Veteran businessman Ron Carter …

The New Zealand dollar slipped after a report showing US inflation accelerated more than expected prompted investors to mull the outlook for tighter monetary policy in the world’s biggest economy. The kiwi edged lower to 86.48 US cents at 8am in Wellington from 86.56 cents at 5pm yesterday. The trade-weighted index was a touch higher at 80.74 from 80.70 yesterday. The US dollar …

Wall Street rose as investors eyed a two-day Federal Reserve meeting that finishes on Wednesday amid reports showing declines in both US housing starts and building permits, while consumer prices climbed the most in more than a year. The Fed is widely expected to cut its bond-buying program by US$10 billion for a fifth straight month, lowering it to US$35 …