Telecom Corp, the country’s biggest phone company, has kicked off its structural overhaul by whittling down the services offered at its Gen-i Australia unit in a move that will see 120 jobs go. The unit will focus on supporting large corporate customers with specific trans-Tasman IT requirements and exit other activities, Telecom said in a statement. That will see headcount …

New Zealand food prices fell last month led by cheaper, meat and in-season fruit and vegetables, though milk prices rose to a nine-month high. The food price index fell 0.3 percent in February, following a 1.9 percent a month earlier, in its sixth decline in seven months, according to Statistics New Zealand. Annual food prices decreased 0.1 percent. Fruit and …

The New Zealand dollar was little changed as Wall Street’s rally to record levels ran out of puff and traders pondered the effects on the economy of widespread drought in the North Island. The kiwi traded at 82.45 US cents from 82.44 cents at 5pm in Wellington yesterday. The trade-weighted index was at 76 from 76.09. The Dow Jones industrial …