The New Zealand dollar may advance against the greenback this week as investors bet a slide in the local currency last month was overdone. The kiwi recently traded at 80.74 US cents from 80.68 cents at 5pm yesterday. The local dollar may trade in a range of 79.36 US cents to 83 US cents this week, with a positive bias, …

Mighty River Power says it has extended an option to increase its stake in US-based geothermal company EnergySource from 20 percent to 33.3 percent. In its first quarterly update since 49 percent of the state-controlled electricity company floated on the NZX and ASX on May 10, MRP says its original option expired last month, but had been extended to the …

The New Zealand government reported a smaller operating deficit than predicted in last month’s Budget forecasts as improving corporate profitability underpinned a bigger company tax take. The operating balance before gains and losses (obegal) was a deficit of $3.99 billion in the 10 months ended April 30, smaller than the $4.65 billion shortfall projected in the Budget Economic and Fiscal …