The New Zealand dollar rose above 80 US cents for the first time in a month as a lull in US data keeps traders unsure as to where the Federal Reserve is leaning in its plan to unwind its stimulus programme, and as volatility in financial markets dwindled to a three month low. The kiwi rose as high as 80.06 …

University of Canterbury vice-chancellor and former Reserve Bank deputy governor Rod Carr has been appointed chairman of the central bank by Finance Minister Bill English. Carr will replace Arthur Grimes, who spent 11 years as the Reserve Bank’s chair, from Sept. 18, the central bank said in a statement. Sue Sheldon has been reappointed deputy chair. Reserve Bank directors appointed …

Synlait Milk jumped 19 percent in its NZX debut after raising $75 million in an initial public offering that was restricted to clients of brokers and institutional investors. The shares first traded at $2.62 compared with the IPO price of $2.20. They were last at $2.75, valuing the company at $402 million. Synlait Milk will use the $75 million raised …