The New Zealand dollar held its value after Federal Reserve officials assured markets about the withdrawal of economic stimulus. The kiwi slipped to 77.98 cents from 78.19 cents at the 5pm market close in Wellington yesterday. The trade-weighted index weakened to 73.69 from 73.75 yesterday. Federal Reserve officials yesterday stepped up their campaign to clarify comments by chairman Ben Bernanke …

Wall Street gained as US Federal Reserve officials stepped up their backpedalling to reassure investors that the central bank’s bond-buying program is not about to disappear into the night. Federal Reserve Bank of New York President William Dudley reminded investors that the economic outlook, not the calendar, will dictate decisions on monetary policy, including the pace of asset purchases. “Economic …

New Zealand business confidence rose to its highest in more than three years in June, led by the construction sector. A net 50.1 percent of firms expect general business conditions to improve in the year ahead, up from 41.8 percent in May, and the highest level since early 2010, according to the ANZ Business Outlook. Firms seeing a pickup in …