The New Zealand dollar rose to a week high against its Australian counterpart as the outlook for the local economy continues to outperform that of its closest neighbour. The kiwi jumped as high as 86.23 Australian cents, and recently traded at 86.14 cents from 85.69 cents at the 5pm market close in Wellington yesterday. The New Zealand dollar edged up …

Wall Street rose to a record after better-than-expected economic data and corporate earnings fuelled investors’ optimism the US economy is gathering steam as Federal Reserve Chairman Ben Bernanke reiterated the central bank’s ongoing support for growth. Bernanke testified before Congress for a second day, now to the Senate Banking Committee. He has finally managed to reassure investors that the Fed’s …

Magritek, which makes magnetic resonance imaging and nuclear magnetic resonance devices, has attracted Wellington-based investment group Rangatira as an investor. Rangatira has taken a 12 percent stake in the manufacturer and marketer of benchtop NMR and MRI instruments for an undisclosed sum, with the option of increasing to 18 percent in a year’s time with further investment. MRI uses strong …