Energy Mad, whose shares have jumped more than 20 percent this week since it said first-quarter earnings were ahead of budget without giving details, has now released numbers showing it had only expected to earn $7,000. Unaudited earnings before interest, depreciation and amortisation were $120,000 in the three months ended June 30, of which $95,000 related to year-earlier depreciation and …

The New Zealand dollar gave up yesterday’s gains after traders decided comments by Federal Reserve chairman Ben Bernanke were not as dovish as initially thought and were more a reiteration of his previous stance. The kiwi fell to 78.54 US cents, from 79.52 cents at the 5pm market close in Wellington yesterday. The local currency is trading within its range …

Stocks and bonds rose after US Federal Reserve Chairman Ben Bernanke said highly accommodative policy would be needed for some time yet, reassuring investors that the central bank is not about to begin reducing its bond-buying program. “Highly accommodative monetary policy is what is needed in the US economy,” Bernanke said after the close of Wall Street yesterday, following a …