New Zealand commodity prices edged up to a new record in May, led by kiwifruit at the start of a new season. Prices in New Zealand dollars fell from a record level as the kiwi dollar climbed.

Hundreds of jobs are at risk with the announcement Canterbury bus maker Designline International has been placed in liquidation.

Labour's Phil Goff says the US doesn't have the negotiating strength to impose its will on NZ and weakening Pharmac is something only big pharmaceutical companies want.

The New Zealand dollar has risen to its highest level against the greenback since it floated in March 1985 on improving risk sentiment and talk of Asian funds' interest in assets such as government bonds.

New Zealand recorded a merchandise trade surplus of $1.1b in April, the highest monthly surplus ever recorded, figures released by Statistics New Zealand show.

The latest Chinese bid for the Crafar dairy farms is a key test for new rules on foreign ownership, reports Karyn Scherer