Embattled internet entrepreneur Kim Dotcom has reduced his stake in his data storage and encryption business, Mega, with the largest shareholder now listed Shen Zhao Wu, a donor to the National Party. Dotcom”s stake, which is held by his wife, Mona, via MD Corporate Trustee Ltd, is now 17.7 percent, down from 26 percent previously, according to documents filed with …

New Zealand retail spending on credit and debit cards rose in April as gains in hospitality and consumables offset falling apparel purchases, as an accelerating economy continues to underpin household confidence. The value of retail spending on electronic cards, seasonally adjusted, rose 0.3 percent to $4.59 billion in April, after growth stalled in March, according to Statistics New Zealand. Core …

Foley Family Wines, majority owned by American businessman and vineyard owner Bill Foley, plans to make an all-scrip $1.9 million takeover offer for pinot noir pioneer Martinborough Vineyard Estates and has already secured agreements to buy 41 percent of the company. Marlborough-based Foley Family Wines is offering one Foley share for every 27.95 shares in Martinborough Vineyard, it said in …