Wall Street declined, pushing the Dow Jones Industrial Average down from yesterday’s record-high close, as investors weighed signs of improvement in the US economy with concern about the Federal Reserve’s potential decrease of monetary stimulus. US Treasuries gained today, as recent increases in yields bolstered the appeal of fixed-income securities. Yields on the benchmark 10-year bond dropped four basis points …

New Zealand’s Reserve Bank will likely use its new macro prudential tools within the next six months to cool Auckland’s overheated housing market and follow up with interest rate rises, according to the New Zealand Institute of Economic Research. “The Reserve Bank will want to use and have to use macro prudential tools over the next six months,” Shamubeel Eaqub, …

Methven, the tapware maker, confirmed a 20 percent slide in annual profit that it first flagged last month, due to a weak Australian market. It is still mum on a potential acquisition. Profit dropped to $5.2 million, or 7.7 cents per share, in the 12 months ended March from $6.5 million, or 9.7 cents, a year earlier, the Auckland-based company …