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Allied Farmers, which is rebuilding from a disastrous takeover of the Hanover and United Finance loan books, returned to profit as its core livestock unit lifted income with gains in Taranaki and Waikato. The Hawera-based company reported a profit of $1.03 million, or 1.03 cents per share, in the 12 months ended June 30, turning around a loss of $1.12 million, or 2.94 cents, …

The New Zealand dollar rose to a four-month high against the ruble on concern Russia may face more sanctions over Ukraine, further denting the fragile Russian economy. The kiwi touched a high of 31.14 rubles and was trading at 30.95 rubles at 8am in Wellington, from 30.83 rubles at 5pm on Friday. The local currency was little changed at 83.58 US cents from 83.59 …

US employment data and a meeting of policymakers at the European Central Bank will renew the focus on when interest rates will begin to rise in the US, and the degree and timing of additional stimulus in the euro zone. The state of the labour market in the US will be revealed in the ADP employment report, due Wednesday, weekly jobless …

Prime Minister John Key has been handed a cast-iron excuse to rid his government of its troublesome Justice Minister, Judith Collins, using an email supplied anonymously to his office yesterday which appears to show Collins conspiring with the Whaleoil blog run by National Party activist Cameron Slater to unseat the then head of the Serious Fraud Office, Adam Feeley, in 2011. Collins was …

Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. The children’s clothing chain said a provision for the write down of IT software and store assets will be reflected in its 2014 results, taking total reorganisation costs …

The New Zealand dollar slipped as the US dollar edged up following better-than-expected US economic data which lifted optimism about a recovery in the world’s largest economy. The kiwi weakened to 83.82 US cents at 8am in Wellington, from 83.91 cents at 5pm yesterday. The trade-weighted index was at 79.01 from 79.06 yesterday. The US dollar index, which measures the greenback against …

Stocks fell, while US Treasuries rose, as concern about intensifying tension in Ukraine outweighed further evidence that the American economy is gathering strength. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.21 percent, the Standard & Poor’s 500 index slipped 0.11 percent, while the Nasdaq Composite Index gave up 0.18 percent. Declines in shares of …

A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong kiwi slashed the value of sales and earnings. Profit tumbled to $10,000 in the 12 months ended June …

Airwork Holdings, the aviation services firm which listed last December, boosted annual profit 52 percent on the strength of its helicopter engineering unit, beating guidance. The shares gained. Net profit rose to $9.83 million, or 20.8 cents per share, in the 12 months ended June 30, from $6.47 million, or 15.2 cents, a year earlier, the Auckland-based company said in a …