State-owned national grid operator Transpower named former senior executive at Fletcher Challenge and Fonterra Cooperative Group, Alison Andrew, to replace outgoing chief executive Patrick Strange early next year. Andrew is currently the global head of chemicals for Orica Australia, a multinational chemical and mining services company, and a member of the Genesis Energy board. An engineer by training, she held …

The New Zealand dollar may trade in a tight range this week as investors consider when the Federal Reserve is likely to start paring back its US$85 billion-a-month monetary stimulus after unexpectedly chosing to keep the package unchanged last week. The local currency may trade between 82 US cents and 84.80 cents this week, according to a BusinessDesk survey of …

The New Zealand dollar weakened as investors evaluate whether the Federal Reserve may start tapering its monetary stimulus next month after unexpectedly keeping the programme unchanged this month. The kiwi slipped to 83.49 US cents at 8am in Wellington, from 83.62 cents at the New York close and 83.81 cents at the 5pm market close in Wellington on Friday. The …