The New Zealand dollar edged up in local trading after government figures showed producer prices rose faster than expected, pointing to potential inflationary pressures. The kiwi rose to 86.33 US cents at 5pm in Wellington from 86.27 cents at 8am, and 86.21 cents on Friday in New York. The trade-weighted index was little changed at 80.26 from 80.18 yesterday. New Zealand producers faced a 1 …

The McMillan family is selling its half stake in Auckland-based BMW, Mini and Roll Royce dealer Team McMillan to co-owner Collins Asset Management, and founder Bob McMillan will retire from the business. Collins Asset Management’s managing director Tim Cook said financial terms of the transaction, which is effective on June 30, were confidential. Team McMillan, based on Great South Road, is …

Sheep farmers will vote in October whether to reinstate a wool levy to fund industry good activities, five years after they dumped a national levy in a move that forced a restructure of what was then called Meat & Wool New Zealand. The Wool Producers Referendum, set for Oct. 10, will ask New Zealand’s 17,000 eligible sheep farmers to approve a …