The New Zealand dollar fell as investors bet expectations for the Federal Reserve to delay tapering its monetary stimulus programme until March next year had already been priced into the markets. The kiwi slipped to 82.49 US cents at 8am in Wellington, from 82.64 cents at the 5pm market close yesterday. The trade-weighted index was little changed at 76.25 from …

The government has raised $176 million from selling the bulk of its 700 megahertz radio spectrum, flagged for fourth generation mobile phone use, and is still mulling what to do with the remainder. Telecom Corp and Vodafone New Zealand, the country’s major mobile phone operators, each spent $66 million on three lots of 2×15 MHz spectrum while new entrant Two …

The Standard & Poor’s 500 Index rose to a new record on expectations the Federal Reserve will maintain its massive stimulus programme amid signs the world’s biggest economy is stumbling. The S&P 500 gained 0.4 percent to 1769.21 and the Dow Jones Industrial Average rose 0.6 percent to 15668.05. In Europe, the FTSEurofirst 300 index was up 0.4 percent. As …