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The New Zealand dollar may advance this week as signs of an improving local economy boost demand for the local currency while a continuation of economic stimulus in the US debases the greenback. The New Zealand dollar may trade between 78.50 US cents and 82.50 cents this week, with a positive bias, according to a BusinessDesk survey of 10 traders …

New Zealand consumer confidence surged to its highest level in three years in June, buoyed by improving economic prospects, rising house values, low interest rates and falling prices, according to the latest Westpac McDermott-Miller Consumer Confidence survey. The Auckland-based cooperative is upgrading its Whareroa site, having spent $23 million improving the facility’s coolstore since 2011, it said in a statement. …

New Zealand consumer confidence surged to its highest level in three years in June, buoyed by improving economic prospects, rising house values, low interest rates and falling prices, according to the latest Westpac McDermott-Miller Consumer Confidence survey. The index jumped to 116.6 in the June quarter, up from 110.8 in March and the highest level since June 2010 when it …

Tony Timpson, who helped found what’s now the listed carpet maker Cavalier Corp, has died at the age of 80. Timpson built up the carpet maker in 1972 with Grant Biel, only retiring from the board of Cavalier in 2009. As at June 30 last year, he still held about 13 percent of the carpet maker. He was made an …

The New Zealand dollar was little changed as traders weigh growth prospects for the local economy with the possible tapering of stimulus in the US. The kiwi recently traded at 80.44 US cents, from 80.39 cents at the New York close and 80.56 cents at 5pm in Wellington Friday. The trade-weighted index edged lower to 74.47 from 76.72 in Wellington …

The clear focus this week is on the US Federal Reserve and any clues on its plans for the future of its monthly bond-buying program. The Federal Open Market Committee starts a two-day meeting on June 18. Fed Chairman Ben Bernanke last month suggested the central bank might reduce the pace of its buying. Bernanke will host a news conference …

Air New Zealand’s aviation maintenance unit Safe Air plans to cut 84 jobs, or about 30 percent of its workforce, citing its struggle to attract new international contracts in the face of a high kiwi dollar, according to a union statement. The airline confirmed Safe Air may cut about 80 jobs as some long-term contracts come to an end. “Since …

Ebos Group shareholders approved the company’s $1.1 billion purchase of the Symbion pharmaceutical wholesaler and distributer in Australia. All six resolutions were passed at the meeting in Christchurch, paving the way for Ebos to triple annual sales to more than $6 billion as it looks to become Australasia’s biggest pharmaceutical wholesaler and distributor. “The increased scale and complementary nature of …

Turners & Growers, New Zealand’s largest integrated fruit and vegetable marketer, named its international markets general manager Alastair Hulbert as new chief executive. He replaces Geoff Hipkins, who left the company in March after media reports of a breakdown in his working relationship with the group’s senior management. Hulbert and chief financial officer Harald Hamster-Egerer have led the company in …

The New Zealand dollar gained as signs of an improving US economy prompted investors to take on more risk, boosting equity markets and damping demand for gold and silver. The kiwi rose to 80.86 US cents from 79.20 cents at the 5pm market close in Wellington yesterday. The trade-weighted index advanced to 74.76 from 73.51 yesterday. Reports in the US …