New Zealand shares fell as risk appetite worldwide was rattled by events in Cyprus and after retailer Pumpkin Patch said inventory disruptions and tough trading hurt sales in its first half. The NZX 50 Index fell 46.031 points, or 1.1 percent, to 4341.024. Within the index, 34 stocks fell, nine rose and seven were unchanged. Turnover was $98 million. Shares …

The New Zealand dollar held near its recent lows following the euro-zone’s bailout plan for Cyprus that included clipping the island’s bank deposits, stoking concern the same demand could occur in nearby nations and spark a run on banks. The kiwi dollar traded at 82.27 US cents from 82.29 cents at the start of the day and down from 82.72 …

The Government has abandoned controversial plans to impose a tax on employee- paid carparks in Wellington and Auckland after a backlash that rallied opponents ranging from unions to business lobbies. Finance Minister Bill English said today in a statement that while the proposed tax was made as a matter of fairness, the government needed to be pragmatic in a situation …