The Serious Fraud Office intends to withdraw two charges against former South Canterbury Finance group accountant Terrence Hutton in the country’s biggest ever fraud case. The white-collar crime investigator won’t pursue two charges alleging false accounting in relation to the recording of a $25 million loan and a $10 million loan after reviewing the charges originally laid in December 2011, …

New Zealand’s trade deficit narrowed more than expected last month as the nation exported more milk powder, butter and cheese while imports fell. The deficit was $199 million in September, down from a revised gap of $1.23 billion in August, according to Statistics New Zealand. The annual deficit was $1.54 billion, from $2.1 billion the previous month. A monthly deficit …

The electricity sector’s rising dominance in New Zealand’s NZX 50 benchmark stock index may prompt investors to adopt a wider benchmark to avoid having too great an exposure to the industry. Government moves to partially privatise state-owned electricity companies including MightyRiverPower, Meridian Energy and Genesis Energy are boosting listings on the exchange and increasing the weighting of the electricity sector …