The electricity sector’s rising dominance in New Zealand’s NZX 50 benchmark stock index may prompt investors to adopt a wider benchmark to avoid having too great an exposure to the industry. Government moves to partially privatise state-owned electricity companies including MightyRiverPower, Meridian Energy and Genesis Energy are boosting listings on the exchange and increasing the weighting of the electricity sector …

The New Zealand dollar was the worst performing currency overnight, as investors switched to so-called ‘safe haven’ assets on concern China’s government is reducing its support for banks, which could stymie growth in the world’s second largest economy. The kiwi dropped to 83.78 US cents at 8am in Wellington, from 84.58 cents at the 5pm market close yesterday, making it …

The government has approved a Ministry of Health pilot to test the appetite of healthcare providers and investors for social impact bonds which would only pay out on measurably improved social outcomes such as reductions in alcohol and drug use or teenage pregnancy. The pilot follows a handful of trial schemes overseas including a 5 million pound programme to reduce …