The New Zealand dollar may decline this week as some traders deem its recent rise above 80 US cents as overdone and as potential damage to exports from a food contamination scare at dairy giant Fonterra Cooperative Group weighs on sentiment. The local currency may trade between 75.50 US cents and 80.60 cents this week, according to a BusinessDesk survey …

Postie Plus Group, the beleaguered clothing retailer, has appointed No 1 Shoes executive Richard Binns as its new chief executive. Binns will join the retailer on Sept. 16, replacing long-serving Ron Boskell who departed in January. He was previously general manager operations at Hellaby Holdings-owned No 1 Shoes, chief operating officer at Overland, and head of general merchandise at Warehouse …

Units of Fonterra Shareholders’ Fund tumbled to the lowest level this year, leading a decline in dairy-related companies on the NZX, amid investor concern earnings will suffer from the discovery of a bacteria contamination in batches of whey protein. Units of the fund, which give investors access to the dividends from Fonterra’s shares, fell 8.6 percent to $6.51, erasing more …