The New Zealand dollar approached 89 Australian cents this morning as investors favoured the reviving local economy over investment in Australia where the economy is slowing. The kiwi touched a new five-year high of 88.98 Australian cents, and recently traded at 88.87 cents, from 88.30 cents at the 5pm market close in Wellington yesterday. The local currency was little changed …

Wall Street advanced as US Federal Reserve policy makers kept its US$85 billion a month bond-buying program intact as the economy continues to recover at a pace that requires ongoing stimulus. “The Committee sees the downside risks to the outlook for the economy and the labour market as having diminished since the fall,” policy makers said in a statement at …

Rakon managing director Brent Robinson and his brother and executive director Darren Robinson have agreed to sell some 493,000 recently purchased shares each after the transactions breached the Takeovers Code. This month the brothers each bought $81,539 worth of shares, representing 0.52 percent of the Auckland-based crystal oscillator maker, though in doing do breached the code as they, along with …