New Zealand shares rose as Tower recovered from its post-quake decline and Fletcher Building gained from its recent slide. OceanaGold fell after reporting a second-quarter impairment tied to the price of gold. The NZX 50 Index rose 5.194 points, or 0.1 percent, to 4581.99. Within the index, 22 stocks rose, 19 fell and nine were unchanged. Turnover was $93 million. …

New Zealand’s productivity watchdog is turning its attention to why service industries, making up more than two-thirds of economic activity, underperform compared to the same sector in other developed economies. Releasing the first of two reports for public comment, the Productivity Commission says the services sector “includes industries with the lowest levels of labour productivity in the economy and also …

Owen Poole is to step down from Alliance Group, after an association with the Invercargill-based meat company stretching back 18 years, and will be replaced as chairman by fellow board member Murray Taggart. Taggart was a farmer-elected director of Alliance between 2002 and 2007 and was re-elected to the board in 2010. He farms a 457 hectare sheep and cropping …