Prices have fallen more than 7 per cent in the latest global dairy auction held overnight. It comes after a slight dip in prices two weeks ago.

Shares in the Fonterra Shareholders Fund rallied to their highest ever point today after the co-operative announced that it plans to cut 300 jobs.

The backdrop is positive for New Zealand and will help offset some of the more domestic headwinds that are emerging, writes Anoop Singh.

Trade Minister Tim Groser says he is disappointed he had to drop out of the race to become the director-general of the World Trade Organisation.

New Zealand is about to open huge tracts of its offshore territory.

An industry group is continuing to defend itself against accusations that it damaged this country's lucrative reputation for safe dairy products during a visit to a trade show in China this month.

Arrests of infant formula smugglers have surpassed those of heroin and other drug runners at Hong Kong's border since it introduced new laws restricting how much baby milk - much of which is made in New Zealand - can be carried into mainland China.

A spokeswoman has confirmed to APNZ this morning that Trade Minister Tim Groser has withdrawn his bid to head the World Trade Organisation.

Contributor Bryan Gould says the Key Government's direction will see New Zealand "become an economic satellite or colony of China ... or be first absorbed into a greater Australia on the way".

A stoush has erupted in the lucrative infant formula export industry after Chinese media outlets published articles about a newly formed export association.

Editorial: New Zealand has, with good cause, always harboured mixed feelings about Japan joining the Trans Pacific Partnership.

The NZIER shadow board thinks the Reserve Bank should keep the official cash rate on hold at 2.5 per cent tomorrow.

Prices of dairy products recorded their smallest gain this year, edging up to a new record.

Strong overseas demand for the New Zealand dollar is likely to form a major barrier to attempts by the Reserve Bank to bring it down, say analysts.

Deforestation intentions have soared as the emissions trading scheme, at least at current rock-bottom prices, is no longer seen as a barrier to switching to other land uses.

Maori Affairs Minister Pita Sharples today formally received a Maori feather cloak in Beijing, which will be temporarily loaned to Te Papa for display.

Why does the world biggest country pay so much attention to such a small country as New Zealand?

Join us at noon today for a live chat with Federated Farmers president Bruce Wills. You can send in your questions now.

Prime Minister John Key used his visit to Shanghai yesterday to spearhead a co-ordinated drive to increase the number of Chinese tourists coming to New Zealand.