Former Foodstuffs boss Tony Carter will take up the chair at Air New Zealand’s board when existing chairman John Palmer steps down after September’s annual meeting. The announcement comes amid growing anticipation of the government’s planned sell-down of its three-quarter stake in the airline. Carter joined the national carrier’s board two years ago when Palmer signalled this would be his …

Infratil, which is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting charges. Net profit fell to $3.4 million in the year ended March 31, from $51.6 million a year earlier, the Wellington-based company said in a statement. Operating revenue …

The New Zealand dollar declined after better-than-expected US retail sales added to confidence the world’s largest economy is expanding, reducing demand so-called growth assets outside of the US including the kiwi. The kiwi dollar fell to 82.53 US cents from 83.05 cents yesterday. The trade-weighted index weakened to 77.19 from 77.67. A report late yesterday showed US retail sales posted …