Tuesday , May 30 2017
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Fonterra’s head of Asia Pacific, Middle East, Africa unit resigns

Fonterra Cooperative Group’s managing director of its Asia Pacific, Middle East and Africa business unit, Pascal De Petrini, has resigned with immediate effect to take up a role with his former company and Fonterra arch competitor, the French food giant Danone, less than 18 months after moving to the world’s largest dairy …

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Apple lifts profit 44% on flat sales, currency gains

Apple Sales New Zealand, the local unit of the iPad and iPod maker, increased annual profit by 44 percent, on largely unchanged sales, as it benefited from a gain on its currency positions. Profit was $15.1 million in the year ended Sept. 27, up from $10.5 million the year earlier, according to its …

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Huljich loans Pushpay $4 million to fund US growth plans

Pushpay Holdings, the NZAX-listed mobile payment app developer, has secured a $4 million funding line from cornerstone shareholder the Huljich family as it chases earnings growth in the US. Christopher & Banks Private Equity V, an investment vehicle for the Huljich family, have loaned the Auckland and Redmond-based company the cash on “arm’s …

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A2 gets approval for ASX listing

A2 Milk Co, the milk marketing company chasing a dual-listing across the Tasman, has issued an information memorandum to would-be Australian investors after gaining preliminary approval to list on the Australian stock exchange. The Auckland-based company’s application to list on the ASX has been approved in principle but is yet to finalise …

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World Week Ahead: Will the Fed remain patient?

The key focus in the coming days will be how the US Federal Reserve tweaks its monetary policy position, and what that means for the timing of an interest rate increase. Last week, the US dollar continued its ascent in anticipation of a lift in rates, rising to the highest …

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Cheap oil to boost NZ national income by $2.4 bln a year, RBNZ says

New Zealand’s national income is expected to get an annual boost of about $2.4 billion as the fight between new energy producers and the Organisation for Petroleum Exporting Countries for market share keep global oil prices low, according to the Reserve Bank. Last year’s 50 percent slump in the price …

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