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Stocks on both sides of the Atlantic advanced amid better-than-expected corporate earnings and US consumer confidence climbing to the highest level in seven years. Focus is also squarely on US Federal Reserve policy makers as they started their two-day meeting. The central bank is expected to end its monthly bond-buying program. Shares of Amgen jumped, last up 5.1 percent, after …

Lib Petagna, the chief investment officer of HRL Morrison & Co which manages Infratil, has sold down his stake in the listed infrastructure investor, with Accident Compensation Corp’s investment portfolio taking up the majority of the shares. JML Capital, an entity related to Petagna, sold 3 million shares on market at $2.81 on Oct. 24, reaping $8.43 million, according to …

New Zealand shares edged up to a new record, paced by MightyRiverPower and Argosy Property, as investors bought dividend paying equities on the expectation interest rates will stay lower for longer. Guinness Peat Group dropped after updating the market about ongoing uncertainty around its UK pension obligations. The NZX 50 Index rose 4.505 points, or 0.1 percent, to 5338.331, rising to a record for the …

The New Zealand dollar held gains in the local trading session as traders remain cautious ahead of the Reserve Bank and US Federal Reserve policy meetings on Thursday. The kiwi traded at 78.94 US cents at 5pm in Wellington from 78.97 cents at 8am, up from 78.75 cents yesterday. The trade-weighted index advanced to 76.70 from 76.43 last week, after local banks …

Opus International Consultants, the listed engineering firm, flagged the loss of an undisclosed project will weigh on profit margins and cost it $5.5 million in the year. The loss of the large project, which was in “a non-traditional discipline with unique and unusual complexities”, would weigh on its New Zealand earnings, the Wellington-based company said in a statement. First-half margins were squeezed by …

Orion Health Group, which develops software systems for patient health management, wants to raise up to $150 million in new capital in an initial public offer but says it won’t offer earnings forecast because of the “lumpy” nature of the group’s revenues and it feared misleading investors as a result. The IPO would value the firm at almost a billion dollars and …

Orion Health Group, which develops software systems for patient health management, wants to raise up to $150 million in an initial public offer which would value the firm at almost a billion dollars and give public investors up to 17.4 percent of the company. The Auckland-based company plans to sell between 21.9 million and 29.1 million shares at $4.30 and …

Pyne Gould Corp, whose shares have been suspended from trading over the late filing of its annual accounts, says its annual report will be tagged by its auditor, which is still going through the asset management firm’s books and its related entities.   The Guernsey-based firm, which is controlled by managing director George Kerr, has asked its auditor PwC to …

Auckland International Airport, the country’s main gateway, said it had talked to its two duty free retailers following what it called “over-zealous competition” at the airport. The hard-sell tactics of the duty free retailers was raised by a shareholder at the airport’s annual meeting in Auckland today and comes as the company considers bids for the upcoming eight-year duty free …