Shares in Pumpkin Patch are the best performer on New Zealand’s benchmark index today as the children’s clothing retailer turned to a profit in 2013 after posting a loss the year earlier when it reorganised its business. Pumpkin Patch shares rose 5 percent to $1.05 after the company said net profit was $5.1 million in the year ended July 31, …

Shares of Air New Zealand rose 6 cents today to trade at $1.50, ahead of the announcement at the annual general meeting in Auckland that the company is to extend its share buyback scheme for a further year. Air NZ shares closed last night at $1.44, opened at $1.455 and by 11.45am were trading at $1.50. The buyback was announced …

Reserve Bank governor Graeme Wheeler has reiterated that his two biggest challenges are the over-valued currency and the housing market, in the 2013 annual report, which shows the central bank made a dividend payment of $175 million in the latest financial year. “The two most significant challenges facing the bank at present are the overvalued New Zealand dollar and overvalued …