New Zealand shares extended their decline, led by Pumpkin Patch, Chorus and MightyRiverPower as investors sold shares in preparation for the partial privatisation of Meridian Energy shares and as weak card spending figures weighed on retailers. The NZX 50 Index fell 28.045 points, or 0.6 percent, to 4710.633. Within the index, 33 stocks fell, 12 rose and five were unchanged. …

Mainfreight, the transport and logistics group, said it has uncovered misappropriation by a credit controller at its Daily Freight (1994) subsidiary and referred the matter to the police. The amount involved isn’t material to Mainfreight, according to a brief statement to the NZX from managing director Don Braid. The matter was uncovered during an internal examination of the New Zealand …

The New Zealand dollar was little changed as the US Federal government shutdown drags on and amid expectations Janet Yellen will get the nod to head up the Federal Reserve tomorrow. The kiwi traded at 82.89 US cents at 5pm in Wellington from 82.90 cents at 8am and 82.93 cents yesterday. The trade-weighted index was almost unchanged at 76.87 from …