Tony Timpson, who helped found what’s now the listed carpet maker Cavalier Corp, has died at the age of 80. Timpson built up the carpet maker in 1972 with Grant Biel, only retiring from the board of Cavalier in 2009. As at June 30 last year, he still held about 13 percent of the carpet maker. He was made an …

The New Zealand dollar was little changed as traders weigh growth prospects for the local economy with the possible tapering of stimulus in the US. The kiwi recently traded at 80.44 US cents, from 80.39 cents at the New York close and 80.56 cents at 5pm in Wellington Friday. The trade-weighted index edged lower to 74.47 from 76.72 in Wellington …

The clear focus this week is on the US Federal Reserve and any clues on its plans for the future of its monthly bond-buying program. The Federal Open Market Committee starts a two-day meeting on June 18. Fed Chairman Ben Bernanke last month suggested the central bank might reduce the pace of its buying. Bernanke will host a news conference …