New Zealand shares fell as Chorus, fighting price controls, sank to a record low and other utilities at risk of regulation, including Meridian Energy, declined. The NZX 50 Index declined 2.621 points, or 0.1 percent, to 4792.329. Within the index, 21 stocks fell, 15 gained and 14 were unchanged. Turnover was $108 million. Chorus dropped 5.6 percent to $1.44, the …

Chorus has filed papers in the High Court challenging the way Commerce Commission set prices on its regulated copper lines, questioning whether the antitrust regulator interpreted the law correctly. The Wellington-based telecommunications network operator spun out of Telecom Corp two years ago is seeking a judicial determination on whether the commission was right to rely on comparisons with just two …

The New Zealand dollar gain as local figures showed the country’s terms of trade at a 40-year high in September and after better-than-expected Chinese manufacturing data provided some optimism for the trans-Tasman nations selling into the world’s most populous country. The kiwi rose to 81.94 US cents at 5pm in Wellington from 81.31 cents at 8am and 81.25 cents on …