Hallenstein Glasson Holdings, the clothing chain, said full-year profit may drop as much as 12 percent after a slow start to winter hurt returns from its Glasson stores in Australia, where rivals have cut prices aggressively. Profit may be $18.5 to $19.5 million in the 12 months ending August 1, from $21 million a year earlier, the Auckland-based retailer said …

The New Zealand dollar rose before the Reserve Bank’s policy statement as investors weighed the prospects for a gradual reduction in momentary stimulus in the US and the greenback dropped against most major currencies. The kiwi gained to 79.59 US cents, from 78.76 cents at 5pm yesterday. The trade-weighted index edged up to 74.06 from 73.45 yesterday. The dollar index, …

Wall Street fell as investors found little to soothe their nervousness over a potential downgrade of the US Federal Reserve’s bond-buying program. In late afternoon trading in New York, the Dow Jones Industrial Average dropped 0.84 percent, the Standard & Poor’s 500 Index fell 0.74 percent and the Nasdaq Composite lost 1.03 percent. “There just isn’t much news to offset …