Millennium & Copthorne Hotels New Zealand, which operates 22 hotels across the country, is mulling a capital return if the float of Chinese investment First Sponsor Group goes ahead. The Singapore Exchange has issued an eligibility to list letter for the proposed initial public offering, which will probably be in the third quarter if it proceeds, the Auckland-based company said …

The New Zealand dollar rose above 86 US cents overnight, as investors seeking higher yields anticipate a rise in the nation’s benchmark interest rate tomorrow. The kiwi touched a week high of 86.20 US cents early this morning and was trading at 85.97 cents at 8am in Wellington from 85.78 cents at 5pm yesterday. The trade-weighted index advanced to 79.90 …

A raft of merger and acquisition activity in the global drug sector helped underpin equities on both sides of the Atlantic, as did better-than-expected earnings from companies including Netflix and Travelers. Shares of Allergan soared, last up 15.3 percent, after Canada’s Valeant Pharmaceuticals offered to buy the company in a deal worth some US$46 billion. Separately, Novartis, GlaxoSmithKline, and Eli …