An agreement on the US debt ceiling did little to stem investors' concern overnight that the world's largest economy is faltering, which will hurt corporate earnings down the road.

Kathmandu said full-year pretax earnings rose between 31 per cent and 36 per cent on new store openings, favourable weather and better inventory management.

Prime Minister John Key has acknowledged the high currency is tough for exporters, but said intervention by the Reserve Bank was unlikely to be successful.

It is a measure of how subdued is the national mood and how modest are our current ambitions that we expect so little of our elected governments.

As progress towards a debt crisis compromise builds in Washington, John Key says its greatest....

Weakness in the United States economy from the government there cutting spending or defaulting on its debt will not necessarily raise New Zealand interest rates, Prime Minister John Key says.

Markets in NZ and Australia will be in the spotlight today to see how they react to last-minute attempts to resolve the US debt crisis.

Increasing numbers of start-up New Zealand businesses begin with their eyes on the world market from day one.

Higher interest rates and an economic shock could be in store for Kiwis if US debt crisis talks fail.

The New Zealand dollar fell against the US currency on the back of yesterday's more dovish official cash rate announcement, the US debt ceiling deadlock, and reemerging European sovereign concerns.

As the US debt crisis continues to dominate world markets, In afternoon trading the Dow Jones Industrial Average edged 0.08 per cent higher, the Standard & Poor's 500 Index gained 0.30 per cent and the Nasdaq rose 0.67 per cent.

The New Zealand dollar fell against the greenback ahead of the Reserve Bank's official cash rate announcement this morning.

Nervous investors took profits overnight as it becomes increasingly clear that there won't be a simple solution to the US debt crisis.

Investors on Wall Street sat on their hands while the US Democrats and Republicans duked it out over rival plans to lower the country's deficit and raise the US$14.3 trillion debt ceiling.