Dorchester Pacific, the financial services firm whose shares have soared 237 percent in the past year, lifted its stake in Turners Auctions to 19.85 percent and said it has no immediate plans to make an offer for the company. Dorchester is flush with funds after a greater-than-expected conversion of options and share placement this month raising about $21 million. The …

The New Zealand Superannuation Fund has excluded seven companies with operations in nuclear bases from its $22 billion portfolio, while clearing the return for four firms which had previously been excluded for their involvement in cluster munitions. The Cullen Fund, so-called for its architect former Finance Minister Michael Cullen, will exclude public companies Babcock & Wilcox, Fluor Corp, Huntington Ingalls …

The New Zealand dollar dropped to its lowest in almost 11 months after a US jobs report showed the world’s largest economy is recovering, spurring demand for the greenback. The kiwi slid to as low as 78.20 US cents, its weakest since July 25 last year. The local currency recently traded at 78.37 cents, down from 78.85 cents on Friday …