The New Zealand dollar climbed above 86 US cents after the harsh US winter slowed growth more than expected in the world’s biggest economy and the Federal Reserve continued to trim its money printing programme. The kiwi climbed to 86.21 US cents at 8am in Wellington from 85.63 cents yesterday. The trade-weighted index advanced to 80.08 from 79.68. The greenback tumbled after …

US equities and bonds gained after the Federal Reserve indicated it will keep interest rates low for “a considerable time,” while also pointing to a pick-up in the economy. “Growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions,” the Federal Open Market Committee said in a statement. …

New Zealand Oil & Gas is ramping up spending in exploration and evaluation as it looks to find replacements for its Kupe and Tui oil and gas fields. The Wellington-based company spent $25 million on exploration and evaluation in the three months ended March 31, according to its quarterly cash flow report. Both its Tui oil field and Kupe oil …