Chief Theo Spierings admits news unsettling for staff as co-op tries to reduce its payroll bill by up to $60m a year.

Liam Dann says axing 523 jobs may make financial sense to Fonterra's chiefs but the dairy slump is bigger than that.

Fonterra's board will consider its current farm gate milk price forecast for 2015/6 at its next meeting on August 7, a spokesman for the co-operative said.

The dollar plummeted after whole milk powder fell more than expected in the GlobalDairyTrade auction overnight.

Dairy prices have plunged in the latest world dairy auction, taking the Kiwi dollar down with it.

The dollar gained as an unexpected decline in US retail sales raised speculation of a delayed increase in US interest rates.

A slowdown in the Chinese economy isn't expected to crimp demand for education in New Zealand.

The NZ dollar weakened as Greek agreement turned investor attention to US interest rate hikes, supporting greenback.

The lower kiwi will benefit exporters such as Delegat which counts the US as its largest market.

The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.

"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.

NZX says a lack of basic shareholder protections could tarnish the reputation of the country's capital markets.

"It's pretty negative, there's a lot of selling in the futures and there's not much buying - this market looks completely stuffed."

The dollar fell as commodity prices dropped on concern about waning demand.

The kiwi dollar was little changed overnight as traders awaited further developments in Greece.

NZX dairy futures pricing continues to point to more weakness in the whole milk powder market, following on from the sharp decline at last week's GlobalDairyTrade auction.

Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.

Craig Elliffe writes: The officials' paper indicates an exemption will apply when you inherit a property from a deceased estate or have transferred as part of the property settlement.

Finance Minister Bill English says the current review of tariffs in the China New Zealand free trade agreement was one of the things that could benefit the dairy sector.

Leading American trade economist Professor Peter Petri is optimistic that the Trans Pacific Partnership will turn out to be less damaging to Pharmac than people fear.

A document shows the US was trying to get increased TPP protection for drug company intellectual property.

The New Zealand dollar fell after prices for the nation's largest commodity export declined in the latest GlobalDairyTrade auction overnight.

The price for NZ's key dairy export, whole milk powder, is set to decline further at tonight's GlobalDairyTrade auction.

Trade Minister Tim Groser says TPP talks should soon pick up steam, with negotiators preparing to put their real cards on the table.

Right now we have an opportunity to play a part in influencing the future direction of the wider region and, through co-operation with our American friends, writes Simon Power.

The kiwi dollar has fallen gain, as the Greece debt crisis pushes investors into 'safe havens".

For the month of May, New Zealand had a trade surplus of $350 million, beating expectations for a $100 million deficit.

Chances of the Trans-Pacific Partnership being finished are now about 70 per cent, says Trade Negotiations Minister Tim Groser.