he New Zealand dollar edged up in volatile trading after Federal Reserve chairman Ben Bernanke emphasised the central bank’s asset purchase programme could be reduced more quickly or expanded depending on economic conditions. The kiwi traded at 79 US cents from 78.70 cents at the 5pm market close in Wellington yesterday. The local currency traded between 78.39 US cents and …

Wall Street gained after Federal Reserve Chairman Ben Bernanke said there was no “preset course” for the central bank’s bond-buying program, while better-than-expected results from companies including Bank of America also underpinned the mood. “I emphasise that, because our asset purchases depend on economic and financial developments, they are by no means on a preset course,” Bernanke said today in …

Australian funds were among the biggest sellers of MightyRiverPower as its shares sank to a post-float low last month, though the exit may been more to do with a slump in their home market than a change of sentiment on the power company. Market data for the top 100 shareholders in MRP between May 24 and June 21 shows the …