The New Zealand dollar surged after the central bank yesterday signalled interest rate hikes were on the horizon, increasing the lure of local assets. The kiwi rose to a six-week high of 81 US cents, and recently traded at 80.95 cents, from 79.80 cents at the 5pm market close in Wellington yesterday. The local currency surged to a four-and-a-half year …

The Nasdaq Composite Index advanced, bolstered by a surge in the shares of Facebook as better-than-expected earnings brightened the outlook for the social media company. Shares of Facebook soared, last up 27.3 percent, as the company posted earnings that exceeded expectations helped by sales of mobile advertising. At least 16 brokerages raised their price targets by as much as US$9 …

The Parliament’s primary production select committee wants to give foreign fishing vessels loopholes to get around registering under a New Zealand flag in their report back on legislation forcing the ships to change their colours. The committee, chaired by National MP Shane Ardern, has recommended an amendment to the Fisheries (Foreign Charter Vessels and Other Matters) Amendment Bill that would …