Precinct Properties New Zealand, which counts its 10 office towers in Wellington’s central business district as 40 percent of its $1.6 billion portfolio, says it has suffered no major damage from yesterday’s 6.5 magnitude earthquake. The city was shaken by the quake at 5.09 pm yesterday, the peak of a swarm of earthquakes centred off the coast of the upper …

The kiwi dollar is holding below levels the Reserve Bank is forecasting for the third quarter though that’s unlikely to be enough to change its view of the interest rate outlook this week. The central bank will keep the official cash rate at 2.5 percent on Thursday, according to a Reuters survey of 16 economists. The bank will hike the …

New Zealand shares fell for a third session, led by Tower as institutional investors re-weight their portfolios ahead of MightRiverPower’s addition to the top 50 index next week. The NZX 50 Index fell 25.079 points, or 0.6 percent, to 4538.306. Within the index, 31 stocks fell, 10 rose and nine were unchanged. Turnover was a lower-than-average $119.4 million. MRP fell …