The New Zealand dollar weakened following a volatile day after the Federal Reserve said it would start tapering its asset purchase programme while local data continued to point to a strengthening economy which will push up interest rates next year. The kiwi slipped to 81.73 US cents at 8am in Wellington, from 81.81 cents at 5pm yesterday and has traded …

The High Court has brushed aside a Greenpeace challenge to the way the Environmental Protection Authority treated Texan oil company Anadarko’s application to drill exploration wells in deep water off Taranaki and South Canterbury. But Justice Alan Mackenzie describes the decision as being made on narrow grounds. Anadarko would have faced greater public and regulatory scrutiny but for the fact …

New Zealand shares rose, with the NZX 50 Index clawing back most of yesterday’s selloff, after the Federal Reserve announced a smaller than expected reduction in stimulus and figures showed economic growth that beat estimates. Telecom, Fletcher Building and Ebos Group paced the gains. The NZX 50 gained 31.182 points, or 0.7 percent, to 4707.060. Within the index, 26 stocks …