ANZ Bank New Zealand has agreed to a $19 million settlement with the Commerce Commission after an investigation into the marketing and sale of interest rate swaps to rural customers between 2005 and 2009. Under the settlement the local unit of Australia & New Zealand Banking Group will establish an $18.5 million fund to pay affected rural customers and pay …

The volume and value of cash trading on New Zealand’s stock exchange fell in November from a year earlier, with activity down across the board. The total number of trades dropped 16 percent to 118,248 in November from the same month in 2013, for a total value of trading worth $3.2 billion, down some 39 percent from a year earlier, …

The New Zealand dollar fell after prices for the nation’s largest commodity export declined in the latest GlobalDairyTrade auction overnight. The kiwi weakened to 77.91 US cents at 8am in Wellington, from 78.76 cents at 5pm yesterday. The trade-weighted index dropped to 78.25 from 78.71 yesterday. Dairy product prices slipped to a fresh five-year low in the latest fortnightly auction, because of a drop in …