Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. The Auckland-based cooperative expects to save an annual $5 million in operating costs from a new dry store at the Waikato site, where its base capacity it at just 60 percent of standard season …

The New Zealand dollar edged up as investors increased their holdings in the local currency after a 6.7 percent slide last quarter amid expectations super-loose monetary conditions in the US will end this year. The kiwi rose to 78.01 US cents from 77.70 cents at 5pm in Wellington yesterday. The trade-weighted index increased to 73.98 from 73.75 yesterday. The New …

Manufacturing data from the US was better than expected, as were those from Europe, but China’s data offered another sign that growth in the world’s second-largest economy is dimming. In the US, the Institute for Supply Management’s index of national factory activity gained to 50.9 in June from 49 in May. A reading above 50 signals expansion. In late afternoon …