Michael Hill International, the jewellery chain that bears its founder’s name, increased sales 6.8 percent last year as it opened more stores in what the company said was a “challenging environment”. Sales climbed to $541.5 million in the 12 months ended June 30, from $507.3 million a year earlier when sales rose at a 4.6 percent pace, the Brisbane-based retailer …

New Zealand property values rose at a 7.6 percent annual pace last month, as demand continued to outstrip supply in Auckland and Christchurch, according to state valuer Quotable Value. Property values stepped up the pace from last month when they increased at a 7.1 percent annual rate, also driven by demand in Auckland and Christchurch. Values increased 2.8 percent in …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has scaled back applications from its farmers to sell milk at a guaranteed price in the 2013/2014 season after being overwhelmed by demand. In a pilot scheme announced last month, Fonterra offered to pay $7 per kilogram of milk solids, matching its initial forecast payout, for those farmer-shareholders wanting to lock in …