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 …

New Zealand consumer confidence eased in July as higher petrol prices and the prospect of rising mortgage rates dented financial sentiment. The ANZ-Roy Morgan consumer confidence index slipped to 119.8 from a three-year high of 123.9 in June. The current conditions index dropped 4 points to 118 and sentiment on future conditions eased 5 points to 121. All five questions …