European stocks climbed as both the European Central Bank and the Bank of England reassured investors that interest rates will remain low to help their respective economies. “The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time,” ECB President Mario Draghi said at a press conference in Frankfurt. …

The New Zealand dollar gained against the greenback as investors slowed down the liquidation of their trans-Tasman holdings, which they embarked on amid growing expectations the Federal Reserve will start unwinding its money printing programme. The kiwi rose to 77.79 US cents at 5pm from 7.68 cents at 8am and 77.41 cents yesterday. The trade-weighted index rose to 74.07 from …

Genesis Energy has secured resource consents for what would be the largest wind farm in New Zealand, a 286 turbine development in a remote part of the Wairarapa. However, low demand growth for electricity means it is unlikely to be built for many years. “With a 10 year lapse period and a 10 year construction period, the Castle Hill wind …