The government employed Financial Markets Authority chairman Simon Allen to help negotiate its $402 million convention centre-for-gaming concessions deal with SkyCity Entertainment Group. Allen, a former investment banker who has chaired the market watchdog since May 2011, took a key role in talks with the casino and hotel group, according to papers released by Ministry of Business, Innovation and Employment …

The New Zealand dollar is heading for a 2.1 percent weekly gain against the greenback as investors pare their bets on the world’s reserve currency in a week where US Federal Reserve chairman Ben Bernanke reiterated that the central bank is set on winding back its money printing programme. The kiwi rose to 79.12 US cents at 5pm in Wellington …

Godfrey Hirst, the biggest carpet maker in Australia and New Zealand, plans to cut at least 50 of the 85 jobs at its Dannevirke plant. The company told staff it planned to cut the jobs by the end of September, alongside a proposal for remaining staff to move to shift work with reduced hours, according to First Union, which represents …