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The New Zealand dollar is little changed after Fonterra Cooperative Group hiked its 2014 forecast payout and ahead of a statement today which may provide further clues on when the US Federal Reserve is likely to pare back monetary policy stimulus. The kiwi was little changed at 79.85 US cents, from 79.92 cents at the 5pm market close in Wellington …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has lifted its forecast milk payout to farmers by 50 cents in the 2014 season as global supply remains constrained and as a weaker local currency bolsters export returns. The Auckland-based company expects to pay $7.50 per kilogram of milksolids and an estimated dividend of 32 cents per share, it said in …

Disappointing earnings hurt shares of companies including Occidental Petroleum, last down 3.3 percent, and Coach, last 8.3 percent weaker. There were positive earnings surprises too such as for Pfizer, helping lift its shares 0.68 percent. Overall Wall Street was mixed as Federal Reserve policy makers began a two-day meeting today, and investors are keen for fresh clues about the outlook …

Abano Healthcare Group has reported a 75 percent improvement in net earnings after tax for the year to May 31, and is looking to raise $15 million in coming months to pursue further growth in Asia and Australia. The group reported record total revenues of $207 million for the year, and NPAT before accounting for the share available to minority …

Ryman Healthcare, whose shares are sitting at a record high after climbing 56 percent this year, trading in the first quarter was in line with the retirement village operator’s target’s and ahead of the same period on 2012. “We have reviewed the first quarter’s trading, and I’m pleased to advise that we are ahead of last year, and trading in …

Methven, the tapware maker which posted a 20 percent drop in profit last year, expects solid sales and profit growth in the current financial year. Its shares rose 2.3 percent. “We are targeting solid sales and net profit after tax growth for the first half and full year of 2013/14,” chairman Phil Lough said in a statement for delivery to …

Cynotech Holdings is being liquidated following a takeover by 1980s high-flyer Allan Hawkins. Hawkins, the former head of Equiticorp which collapsed after the 1987 share-market crash, began winding down the listed company after taking control in 2010. Interim liquidators have now been appointed to the company by the Auckland High Court, following an application by Hawkins, the company said in …

New Zealand new home building consents fell in June though the decline wasn’t enough to prevent growth in the second quarter from reaching a five-year high, government figures show. New dwelling consents fell 4 percent, seasonally adjusted, in June from May, when they gained 1 percent, according to Statistics New Zealand. The latest two months followed a 21 percent surge …

The New Zealand dollar may extend this year’s 10 percent gain against the Australian dollar should Reserve Bank of Australia governor Glenn Stevens today affirm that a slowing economy justifies further interest rate cuts. The kiwi recently traded at 87.20 Australian cents, little changed from 87.27 cents at the 5pm market close in Wellington yesterday. The local currency weakened to …

Wall Street weakened as investors awaited more details from US Federal Reserve policy makers on paring back their bond buying at a two-day meeting starting tomorrow. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.15 percent, as declines in shares of Bank of America, last 1.3 percent weaker, and Chevron, last 1 percent lower, weighed …