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The New Zealand dollar may decline this week as the yield appeal of the kiwi diminishes amid expectations of better times ahead for the US economy. The local currency may trade between 75 US cents and 80 cents this week, with a downside bias, according to a BusinessDesk survey of nine traders and strategists. The kiwi recently traded at 77.64 …

AMP, the dual-listed financial services firm, expects first-half earnings to fall by as much as 16 percent after its Australian wealth protection business struggled in the second quarter. The Sydney-based firm anticipates underlying profit of between A$415 million and A$435 million in the six months ending June 30, from A$491 million a year earlier, the company said in a statement. …

The New Zealand dollar dropped as investors continue to favour the US on signs of a revival in the world’s largest economy. The kiwi fell to 77.29 US cents from 77.71 cents at 5pm in Wellington Friday and 77.52 cents at the New York close Friday, when it dipped below 77 cents for the first time in a year. The …

Investors will focus on a slew of US economic data and speeches by Federal Reserve officials in the coming days, as nerves remain frayed by Ben Bernanke’s signal that the American central bank might pull back its stimulus sooner than expected. Wall Street calmed down by Friday, closing higher for the day, following losses the previous two days after Bernanke …

Telecommunications network owner Chorus faces too much regulatory risk and too little political will to overcome the cost blow-outs and pricing uncertainties under contracts to roll out the ultra-fast broadband network, say analysts for Deutsche Bank. In a 33 page report, the local branch of the global investment bank puts a “sell” recommendation on Chorus shares, targeting a share price …

Precinct Properties New Zealand, formerly AMP NZ Office, has lifted the value of its property portfolio 2.6 percent on a rising Auckland market, and has signed a new and bigger banking facility with existing lenders. The value of the Auckland-based property investor’s portfolio rose $40 million to $1.64 billion and will be confirmed in August with the annual results, the …

The Commerce Commission has launched an investigation into whether Wilson Parking New Zealand’s acquisition of a rival’s parking assets will substantially reduce competition in the market. The regulator is seeking feedback from parties “who consider they have relevant information for the commission’s consideration” as it looks at whether the deal “is likely to have resulted in a substantial lessening competition …

Mercer Group, the stainless steel fabricator, cut its annual earnings forecast after two big equipment sales missed the June financial year, though it’s upbeat about talks to licence its technology to a large multinational company. Earnings before interest, tax, depreciation, and amortisation will be between $2.2 million and $2.5 million in the 12 months ending June 30, the Auckland-based company …

The New Zealand dollar fell to a 12-month low as the Federal Reserve’s signal of an end to quantitative easing, weak Chinese manufacturing and tighter credit sapped risk appetite and sent investors rushing to the greenback. The kiwi fell to 77.48 US cents, and earlier dropped to a 12-month low of 77.10 cents, from 78.54 cents yesterday. The trade-weighted index …

Stocks on both sides of the Atlantic sank after a report showing China’s manufacturing decreased at a faster rate in May and as investors digested Federal Reserve Chairman Ben Bernanke’s comments that the bank may soon begin paring its stimulus. Yesterday Bernanke said the Fed may downsize its US$85 billion-a-month bond-buying program later this year if the economy strengthens in …