New Zealand shares fell, with the NZX 50 Index extending its drop from a record, as investors prepare for the Meridian Energy sale and mull the potential end of US monetary stimulus. Sky Network Television and Fonterra Shareholders’ Fund paced the slide. The NZX 50 fell 29.003 points, or 0.6 percent, to 4701.374. Within the index, 39 stocks fell, seven …

Labour plans no change to key economic planks, including a capital gains tax, the single buyer electricity policy, affordable home-building policy, and a broader mandate for monetary policy than inflation control, Labour’s newly appointed leader, David Cunliffe, confirms. Speaking to BusinessDesk after a press conference where he unveiled a new shadow Cabinet line-up, Cunliffe confirmed his deputy, David Parker’s key …

PGG Wrightson chairman John Anderson will retire from the rural services company at the annual meeting next month. Anderson, who joined the board during a tumultuous shake-up in 2010, will step down from the board at the Oct. 22 meeting, the company said in a statement. A new chairman will be appointed after the meeting. Anderson’s appointment coincided with a …