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 …

Auckland house prices rose for a third month in July as listings and sales jumped, according to Barfoot & Thompson, the city’s biggest realtor. The average sale price rose 0.7 percent to $654,379 last month, adding to a 0.8 percent gain in June, the firm said. The median price fell to $585,000 from $590,000. A shortage of new homes in …