New Zealand shares fell for a second day, retreating from a five-year high as Chorus extended its slide on concerns about price regulation and Xero fell from a record high. The NZX 50 Index dropped 33.396 points, or 0.8 percent, to 4015.69. Within the index, 29 stocks fell, nine rose and 12 were unchanged. Turnover was about $190 million, with …

The New Zealand dollar followed its Australian counterpart higher after the Reserve Bank of Australia cut interest rates to a level not seen since 2009 in a bid to revive economic activity as the resources boom peters out. The kiwi rose to 82.29 US cents at 5pm in Wellington from 82.04 cents immediately before the RBA announcement, and was up …

The Reserve Bank of Australia cut its key rate a quarter point as expected, saying there’s a risk below-average global growth slows further while at home the labour market is subdued and capital spending on resources is peaking. The central bank lowered the cash rate to 3 percent from 3.25 percent to “help to foster sustainable growth in demand and …