The New Zealand dollar fell more than a US cent against the US dollar as traders absorbed the knock-on effect of weaker dairy prices on the domestic economy and the greenback strengthened in the wake of Japanese prime minister Shinzo Abe’s confirmation of a snap election and a delay in a sales tax hike. The New Zealand dollar fell to 78.70 US cents at …

AWF Group, the contract labour firm that last year took on debt to acquire white-collar recruiter Madison, will probably launch a $12 million rights offer next year to reduce its borrowings and put some money in the kitty for potential future acquisitions. The Auckland-based company used debt to fund the $30 million purchase of Madison a year ago and expects to borrow a …

Moa Group posted a wider first-half loss after the unprofitable boutique beer maker restructured its fledgling business and changed distribution and brewing arrangements to underpin future growth. The Auckland-based company posted a loss of $3.21 million, or 9.5 cents a share, in the six months ended Sept. 30, from a loss of $3.04 million, or 10.1 cents, a year earlier, it said in …