Standard & Poor’s affirmed New Zealand Post’s issuer credit and related debt rating at A+/A-1 with a long term negative outlook, while cutting its hybrid notes to ‘junk’ status. NZ Post would receive a “very high level of extraordinary support” from the government in times of financial stress, but this wouldn’t be extended to the $200 million of hybrid notes the national …

The anti-corruption campaign which has swept across China in the last two years has gone global, as Beijing seeks to enlist the help of western democratic governments in pursuing officials who flee overseas. Underlining Beijing’s rising economic and political clout, Communist party officials have already launched an investigation into assets and individuals based in New Zealand, a country that counts China as …

Dairy product prices rose in the latest GlobalDairyTrade auction, inching higher from the lowest level since July 2012, as declines in butter milk powder and cheddar were offset by gains in rennet casein and skim milk powder. The GDT average winning price crept higher to US$2,795, up from US$2,787 two weeks ago. Some 50,801 tonnes of product was sold, down …