The business community provided an upbeat reception, with rave reviews for Finance Minister Bill English and a widespread sense of renewal following the emergence from the struggles of the Global Financial Crisis and the Christchurch earthquakes. Digital technology featured strongly, and one article in the 2013 report even called for the introduction of the government chief technology officer. Divisive issues …

Fonterra Cooperative Group, the world’s largest exporter of dairy products, said earnings would miss its forecast by about 7.3 percent because of the drought in New Zealand and intense competition in Australia. Earnings before interest, tax and one-time items would be about $1 billion in the year ending July 31, down from the $1.079 billion forecast in its Shareholders’ Fund …

The New Zealand dollar rose to a four-and-a-half year high against its Australian counterpart amid diverging interest rate outlooks for the trans-Tasman neighbours. The kiwi rose as high as 87.43 Australian cents, the highest since November 2008, and traded at 87.14 cents at 5pm in Wellington from 86.01 cents yesterday. It climbed to 79.80 US cents at 5pm from 79.29 …