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 …

The New Zealand dollar may remain relatively unchanged this week as investors weigh the potential for a slower pace of interest rate increases than previously expected. The local currency may trade between 85 US cents and 87.40 cents this week, according to a BusinessDesk survey of 11 traders and strategists. Six predict the kiwi will remain neutral this week, while …