The optimism triggered by the US Federal Reserve’s decision to begin tapering its bond-buying program next month as the world’s biggest economic recovery gathers speed appears likely to extend into this Christmas-holiday shortened week. In the previous five sessions, the Dow Jones Industrial Average jumped 3 percent, the Standard & Poor’s 500 Index rallied 2.4 percent and the Nasdaq Composite …

New Zealand shares weakened ahead of the Christmas holiday period in mixed trading as investors cash up for profits. The NZX 50 slipped 25.869 points, or 0.55 percent, to 4,681.191. Within the index, 31 stocks fell, 13 rose and six were unchanged. Turnover was $221.9 million. “Our market has been a little bit disappointing in recent weeks,” said Grant Williamson, …

Carter Holt Harvey, owned by Graeme Hart’s Rank Group, and Fletcher Building, the country’s biggest listed company, admitted to the Commerce Commission that they agreed to fix prices for structural timber for some commercial customers in Auckland in late 2012 and early 2013. The Wellington-based anti-trust regulator today filed proceedings in the High Court against Carter Holt and its manager …