The New Zealand dollar is heading for a 1 percent weekly decline as investors stay glued to US economic data after the Federal Reserve put plans to taper its monetary stimulus programme on hold. The kiwi traded at 82.90 US cents at 5pm in Wellington from 83.71 cents at the Monday open. It was up from 82.75 cents at 8am …

Fletcher Building, the biggest listed company in New Zealand, faces a probe into potentially anti-competitive behaviour in its plasterboard supply arrangements. The Auckland-based company has today been advised that the competition watchdog, the Commerce Commission, “intends to inquire into its plasterboard supply arrangements with building supplies merchants,” it said in a statement. A spokesman for the Commerce Commission confirmed the …

Genesis Energy is to mothball the second of four generating units at its ageing Huntly power station more than a year earlier than previously signalled as flat demand and a surge in new, lower cost generation has made it surplus to requirements. Genesis spokesman Richard Gordon said the decision was made after observing that, even with a severe drought earlier …