Xero, the cloud-based accounting software firm, has doubled its market capitalisation in just four months, rising above $2 billion today, having still to turn a profit. The shares rose 3.9 percent to $17.40 on turnover of some $935,000, valuing the company at $2.04 billion and adding to its 120 percent jump this year. That makes it the 11th biggest company …

Freightways, the courier and data management company, said profit before one-time items rose 6 percent in 2013 and similar profit growth is expected in 2014, lagging analyst estimates of 10 percent growth in the coming year. The shares fell 2.9 percent to a one-month low. “The expected performance is consistent with Freightways most recent outlook comments that it expects to …

The New Zealand dollar touched its highest in four-and-a-half years against the Aussie this morning after the Reserve Bank of Australia governor Glenn Stevens yesterday suggested a decision on whether to hold interest rates this week was a close call. The kiwi touched 85.80 Australian cents today, its highest since November 2008. The local currency recently traded at 85.62 Australian …