Fonterra Cooperative Group, the world’s largest exporter of dairy products, said this year’s earnings will miss forecast by about 7.3 percent, spurring a sell-off in the company’s listed fund. Units in the Fonterra Shareholders’ Fund are the second-worst performer on New Zealand’s benchmark index today, dropping 3.7 percent to $7.20, crimping their gain so far this year to 6.3 percent. …

New Zealand Oil & Gas, the nation’s biggest listed energy explorer, has ceded its Kakapo permit off the South Taranaki after failing to find a partner to share costs of a prospect it says could be several times bigger than the Tui or Maari fields. NZOG won exploration permit PEP 51311, which lies to the west and south of the …

Reserve Bank governor Graeme Wheeler is sharpening his focus on New Zealand’s bubbling housing and construction sectors and the threat they pose to inflation. The central bank kept the official cash rate on hold at 2.5 percent today, while saying the “removal of monetary stimulus will likely be needed in the future and linking any hike to how much “the …