The Reserve Bank of New Zealand says it intervened in foreign exchange markets in an attempt to drive the kiwi lower. It gave no details of the size of the intervention. The kiwi dollar tumbled to 83.90 US cents from 84.48 cents before his comments were telegraphed at the finance and expenditure select committee in Wellington. The trade-weighted index dropped …

The impact of drought in February, March and April on dairy farms was greater than Fonterra Cooperative Group anticipated, with milk collection down 0.5 percent in the first 11 months of the season. The Auckland-based company collected 1.414 million kilograms of milk solids in the latest 11 months, from 1.421 million kgMS in the same period a year earlier, it …

Google New Zealand, the local service hub of the world’s biggest search engine company, stacked on workers last year to keep pace with an online advertising market that’s growing at the expense of newspapers and television. Employee benefits jumped 76 percent to $4.2 million in calendar 2012, the company’s financial statements show. Service revenue, which is essentially payments from the …