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The New Zealand dollar weakened against the Australian dollar ahead of reports today which may show the Australian economy is picking up pace. The kiwi slipped to 92.31 Australian cents at 8am in Wellington from 92.54 cents at 5pm yesterday. The local currency was little changed at 82.62 US cents from 82.75 cents yesterday as investors await the inaugural testimony …

Wall Street began the week lower as investors awaited Tuesday’s testimony of the US Federal Reserve’s new chairman, Janet Yellen, to gauge the central bank’s take on the recent weakness in employment data and the overall outlook for the US economy. Yellen, who took the helm on February 1, will provide the Fed’s semi-annual testimony to the House Financial Services …

New Zealand stocks fell, paced by SkyCity Entertainment Group, amid speculation the impending earnings season may show the impact of a high kiwi dollar. Hallenstein Glasson Holdings led the index lower after figures showed weak clothing sales. The NZX 50 Index fell 7.730 points, or about 0.2 percent to 4833.058. Within the index, 25 stocks fell, 12 rose and 13 …

The New Zealand dollar was little changed as investors mulled the significance of a weaker-than-expected US jobs report on Friday ahead of Federal Reserve chair Janet Yellen’s inaugural testimony in front of policymakers this week. The kiwi traded at 82.75 US cents at 5pm in Wellington from 82.83 cents at 8am and 82.90 cents at the close of trading in …

Shares of Pacific Edge, which have soared almost 200 percent in the past 12 months, extended their gains after a deal was signed allowing its bladder cancer test to be used District Health Boards. The stock jumped 4.9 cents to $1.72 after the Health Innovation Hub, a government agency set up to allow technology innovations to be commercialised via the …

Clorox New Zealand, the local arm of the NYSE-listed bleach and Glad wrap maker, has extended a run of flat earnings, echoing the results of a parent company looking to emerging markets to drive growth in sales of household staples. Profit was $8.8 million in the 12 months ended June 30, 2013, little changed from a year earlier, according to …

Power prices could be expected to rise if the Labour and Green parties’ electricity policy is adopted using the high historic cost of building some of the country’s largest hydro dams, a research paper prepared for Business New Zealand claims. Produced by the Wellington consultancy Sapere, which advised on the government’s 2010 electricity reforms, the paper also doubts the Labour-Greens …

US hedge fund Libra Advisors will take a $12 million stake in Rubicon in a private placement to shore up the company’s funding position and support its future commitments to forestry biotech firm ArborGen. The New York-based investor will buy 29.3 million shares at 41.29 cents per share, the volume weighted average price over the last 10 trading days, Rubicon …

The New Zealand dollar advanced after a key US employment report pointed to a weaker economy than expected and as risk appetite returned to the market. The kiwi touched 84.95 yen over the weekend, its highest level this year, and was trading at 84.81 yen at 8am in Wellington from 83.89 yen at 5pm on Friday. The local currency was …

Janet Yellen is scheduled to deliver her first testimony as chairman of the Federal Reserve to US lawmakers this week after a weaker-than-expected jobs report did little to temper investors’ optimism about the US economic outlook. In the past five days, the Dow Jones Industrial Average gained 0.6 percent, while the Standard & Poor’s 500 Index climbed 0.8 percent, and …