New Zealand shares fell as investors assessed the potential threat to power company earnings from a Labour Party-Green Party plan to overhaul the electricity sector if elected. Contact Energy, TrustPower, Infratil and Vector all declined. The NZX 50 Index fell 36.16 points, or 0.8 percent, to 4442.10. Within the index, 38 stocks fell, nine rose and three were unchanged. Turnover …

The Supreme Court has rejected a bid by two Christchurch firms to appeal a decision relating to the way Earthquake Recovery Minister Gerry Brownlee used his powers over land zoning in Christchurch, saying it would be “inappropriate” for the bench to give advisory opinions on how minsters exercise their powers. Independent Fisheries and Clearwater Land Holdings were seeking leave to …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has appointed Singaporean director Simon Israel to its board to replace the retiring Ralph Waters. Israel will join the Fonterra board on May 1, replacing Waters who stayed on with the dairy group to help bed in the changes from the Trading Among Farmers regime. His appointment comes as Fonterra looks increasingly …