Equities in Europe and on Wall Street advanced overnight amid optimism about a recovery in the US labour market.

The Commerce Commission is investigating whether it needs to carry out a full-blown probe of the retail prices charged for milk, despite last week telling Parliament's commerce select committee it would not hold an inquiry into milk prices.

Rakon, which makes crystal oscillators used in navigation systems and smart phones, is on track to triple production when its new Chinese factory opens in July.

The total value of goods exported in February was $3.9 billion - 17 per cent higher than the same month last year.

Australia may benefit from setting up a fund to collect extra revenue generated by high commodity prices and invest it overseas, a Reserve Bank of Australia research paper has shown.

Stocks on Wall Street and in Europe eked out gains amid data that showed the all-important US consumer spent more than expected last month.

New Zealand's annual current account deficit shrank to a lower-than-expected $4.38 billion, or 2.3 per cent of GDP.

A radio competition which failed to adequately mention that winners would need to purchase overseas flights to claim their prizes has fallen foul of the Commerce Commission.

Cabinet agreed today to give $1m to support the Red Cross effort in Japan, Prime Minister John Key announced this afternoon, and also confirmed four NZers were still in Libya.