Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production.… Full Story →
Synlait Milk, which twice cut its earnings forecast, posted earnings growth that met revised guidance and said it plans to take a 25 percent stake Sichuan New Hope Nutritional Foods Co to gain a direct interest in a Chinese infant formula brand.… Full Story →
The anti-corruption campaign which has swept across China in the last two years has gone global, as Beijing seeks to enlist the help of western democratic governments in pursuing officials who flee overseas.… Full Story →
Australian Treasurer Joe Hockey talks up his country’s potential to be the “world’s number one energy exporter” within the decade but China’s ban on the sale and import of coal with high ash or sulfur content may impact forecast returns.… Full Story →
The Australian is today reporting that Australia is on track to sign free-trade agreement with China at about the time of the November G20 meeting in Brisbane, after the latest round of negotiations left senior ministers believing the deal can be clinched by the end of the year.… Full Story →
New Zealand bred and Hong Kong based toy company ZURU signs a global exclusive deal with Kickstarter sensation, Bunch O Balloons — the fastest and easiest way to make water balloons.… Full Story →
Fonterra Cooperative Group will offer a premium of at least 20 percent for a one-fifth stake in Beingmate Baby & Child Food as part of a $615 million investment in a partnership to drive baby food sales into China.… Full Story →
Fonterra Cooperative Group plans to enter a joint venture with China’s Beingmate that will own the dairy giant’s Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment of $615 million.… Full Story →
Shares in A2 Milk Co jumped 9.8 percent from a 15-month low on news the milk marketer has won Chinese regulatory approval to export its a2 Platinum infant formula.… Full Story →
Prices of dairy products may extend this year’s 34 percent slump, economists say, adding to pressure on Fonterra Cooperative Group to lower its milk payout forecast and taking some of the steam out of New Zealand’s economic expansion.… Full Story →
- World Week Ahead: Bulls bounce back
A slew of US corporate earnings and Chinese economic data will form the key focus in the coming days as Friday’s rebound could not prevent Wall Street from sliding for a fourth consecutive week amid concern about global growth.
- Berry company OOB wins ice-cream contracts in China
Berry company OOB has sealed two deals with Shanghai-based companies to sell its organic ice-cream.
- A2 Milk, hit by strong kiwi, to use Australian cash for global expansion
A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong kiwi slashed the value of sales and earnings.
- Synlait beats prospectus forecast as full-year profit more than doubles
Synlait Milk, the Canterbury-based dairy processor that went public in July, posted a 161 percent jump in full-year profit, beating its prospectus forecast, although infant formula sales missed its target.
- NZ dollar little changed after upbeat Chinese manufacturing
The New Zealand dollar was little changed in local trading after Chinese manufacturing figures beat expectations, as investors rethink last week’s action when the Federal Reserve didn’t embark on slowing down its pace of printing money.