The latest US economic data were disappointing, more than offsetting the decision by Federal Reserve policy makers to stick with their program of purchasing US$85 billion of bonds a month to bolster growth. “The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labour market or inflation …

New Zealand shares fell as market shooting stars such as Xero and Ryman Healthcare retreated from record highs, while Kathmandu, A2 Corp and Fonterra Shareholders’ Fund advanced. The NZX 50 Index fell 11.35 points, or 0.2 percent, to 4603.01. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $111 million. Xero, the cloud-based accounting firm …

The New Zealand dollar held near a two-week high after Chinese manufacturing figures weren’t as bad as investors may have feared, and ahead of the Federal Reserve’s monetary policy where it’s expected to hold firm on its low interest rates and money printing programme. The kiwi traded at 85.73 US cents at 5pm from 85.69 cents at 8am, and 85.63 …