The New Zealand dollar slumped to its lowest this year on expectations an improving US economy may prompt its central bank to end its quantitative easing policy this year. The kiwi fell to 81.58 US cents from 82.48 cents at 5pm yesterday. The local currency earlier touched 81.37 cents, its lowest level since Nov. 21 when it traded at 81.08 …

Standard & Poor’s, the global credit rating agency, has put eight local banks on notice over the rising risk of a housing bubble bursting in New Zealand. Smaller lenders Cooperative Bank, Heartland Bank, TSB Bank, Credit Union Baywide, Credit Union South, First Credit Union, New Zealand Association of Credit Unions and Police and Families Credit Union have all had their …

The latest reports on the US economy pointed to weakness, or at the least slower forward momentum, leading investors to press the brakes on Wall Street’s record run. The Philadelphia Federal Reserve Bank said its gauge of factory activity in the mid-Atlantic region dropped to minus 5.2 in May, while the Commerce Department said housing starts sank 16.5 percent to …