The New Zealand dollar fell as optimism of a US recovery raises the prospect of an end to quantitative easing in the world’s largest economy. The kiwi dropped to 81.82 US cents from 82.90 at 5pm yesterday. The trade-weighted index slid to 76.88 from 77.46 yesterday. The US Dollar Index, which tracks the greenback against its major trading partners, was …

Wall Street resumed its climb to new records, underpinned by the confidence that central banks around the world are supporting growth. Financial stocks including Bank of America and Citigroup received a boost from billionaire hedge-fund manager David Tepper who called US banks “a good sector” in an interview with CNBC. Shares of Bank of America were up 2.3 percent, while …

Former Foodstuffs boss Tony Carter will take up the chair at Air New Zealand’s board when existing chairman John Palmer steps down after September’s annual meeting. The announcement comes amid growing anticipation of the government’s planned sell-down of its three-quarter stake in the airline. Carter joined the national carrier’s board two years ago when Palmer signalled this would be his …