All eyes are on the partisan political brinkmanship in the US Congress as the deadline for a budget deal to avert a government shutdown at midnight on Monday in Washington is closing in rapidly. While there is still optimism for an agreement, investors realise that it ain’t over till the fat lady sings. Last week, the Standard & Poor’s 500 …

New Zealand shares advanced, pushing the NZX 50 Index to a new record, led by children’s clothing retailer Pumpkin Patch which posted a return to annual profit following a loss the previous year as it restructures its business. The NZX 50 rose 17.206 points, or 0.361 percent, to 4,782.679. Within the index, 22 stocks rose, 20 fell and eight were …

Postie Plus, the retailer whose shares are the worst performer on the NZX this year, plunged deeper into the red after its poorly executed outsourcing deal for a distribution centre in Mangere disrupted the business, and has left it relying on its banks to keep it cash-flow positive. The Auckland-based retailer’s loss widened to $11.6 million, or 29.12 cents per …