Synlait Milk, the milk processor which joined the NZX in July, says earnings will beat guidance next year on cheaper raw milk prices and growing demand for its products. That contrasts with Fonterra Cooperative Group, which today slashed its guidance in the face of a margin squeeze. International demand is favouring Synlait’s milk powder and anhydrous milk fat products, while …

The New Zealand dollar fell after dairy exporter Fonterra Cooperative Group surprised investors by keeping its forecast payout to farmers unchanged and as traders await the Reserve Bank’s policy statement, which is expected to keep interest rates at a record low. The kiwi dropped to 82.78 US cents at 5pm in Wellington from 83.11 cents at 8am, little changed from …

Restaurant Brands, New Zealand’s largest fast food operator by sales, said third -quarter sales growth accelerated to 5.4 percent this year, compared with just 0.5 percent growth in the same period a year earlier. Sales rose to $76.2 million in the 12 weeks ended Dec. 2, from $72.2 million in the same period a year earlier, even as it had …

Fonterra Shareholders’ Fund units retreated to last year’s issue price after the dairy giant slashed its forecast dividend payments by two thirds and halved its earnings forecast, saying high milk powder prices haven’t been matched by cheese and casein. The units, which are entitled to dividends from Fonterra’s shares, dropped as low as $5.49, below last year’s $5.50 issue price. …

Fonterra Cooperative Group slashed its forecast 2014 dividend payment by two thirds, while keeping its targeted farmgate milk price at a record high, saying high milk powder prices haven't been matched by cheese and casein. The world's biggest dairy exporter cut its dividend forecast to 10 cents a share from 32 cents while keeping the milk price at $8.30 a …

MightyRiverPower, the first state-owned power company to be partially privatised by the government this year, plans to keep the price it charges for electricity on hold until at least April 2015, but can’t guarantee transmission and distribution prices won’t rise. The energy component of a power bill is between 50 and 60 percent of the total and the Auckland-based company …

Stocks on both sides of the Atlantic fell, pushing the Standard & Poor’s 500 Index down from a record-high close, as investors positioned themselves ahead of next week’s US Federal Reserve meeting. In afternoon trading in New York, the Dow Jones Industrial Average fell 0.15 percent, the Standard & Poor’s 500 Index declined 0.18 percent, while the Nasdaq Composite Index …

New Zealand shares fell as a brokerage put a sell rating on Fonterra Shareholders’ Fund ahead of what’s expected to be a hike to its forecast milk payment tomorrow. Wynyard Group, Xero and Diligent Board Member Services rose. The NZX 50 fell 11.8 points, or 0.3 percent, to 4706.506. Within the index, 25 stocks fell, 17 gained and eight were …

The New Zealand may gain with more Chinese economic data coming later today and amid expectations Fonterra Cooperative Group will announce a hike in its forecast payout to farmers tomorrow. The kiwi traded at 82.90 US cents at 5pm in Wellington from 82.70 cents at 8am and 82.91 cents yesterday. The trade-weighted index was 77.78 from 77.83 yesterday. Traders are …

The Financial Markets Authority says there's a big difference in quality between audit reports by the 'big four' accounting firms and their lower tier rivals, who will need to step up their game significantly to meet regulations overseeing the sector. The market watchdog's first audit quality review report since the regulations came into play last year found “the majority of …