By Laura Walters The Ministry for Primary Industries is under-resourced and communications inadequate to deal with the food-safety issues facing New Zealand exports to China, Trade Minister Tim Groser says. Groser told the China Business Summit in Auckland today that it was undeniable the ministry did not have enough resources in China to deal with the recent DCD residue issue, …

The Financial Markets Authority has cancelled a prospectus offering shares in FMP Medical Services, saying the offer is false or misleading, the first time the regulator has taken such an action. FMP was seeking investors to set up a chain of renal dialysis clinics in New Zealand. The FMA first prohibited allotment of shares in the company to allow it …

The New Zealand dollar slipped as investors lessen their exposure to riskier currencies on concern about a failure by US politicians to reach agreement ahead of tomorrow’s deadline for averting a debt default. The kiwi weakened to 83.64 US cents at 8am in Wellington, from 83.85 cents at the 5pm market close yesterday. The trade-weighted index declined to 77.65 from …