Fonterra Cooperative Group posted full-year earnings that met its guidance as drought in the second half eroded returns from New Zealand Milk and rivalry eroded Australian margins, while sales grew in the rest of the world. Normalised earnings before interest and tax fell 3 percent to $1 billion, the Auckland-based company said in a statement. That meets the guidance it …

The New Zealand dollar weakened as investors sold off higher risk assets as they mull yet again the prospect of the US Federal Reserve pulling back its US$85 billion a month bond buying programme. The kiwi fell to 82.70 US cents at 8am in Wellington from 83.35 cents at the 5pm market close yesterday. The trade-weighted index slid to 77.10 …

Wall Street was mixed as investors weighed reports underpinning the recovery in the US housing market, with signs rising mortgage rates might curb home buyers’ appetites and consumer confidence remains weak. In late afternoon trading in New York, the Dow Jones Industrial Average slipped 0.11 percent. The Standard & Poor’s 500 Index rose 0.16 percent, and the Nasdaq Composite Index …

New Zealand shares snapped a two-day slide after Kathmandu delivered record earnings and Sky Network Television rose in continued heavier-than-average trading. Fletcher Building rose after falling from a five-year high reached last week. The NZX 50 Index, which touched a record high last week, rose 9.213 points, or 0.2 percent, to 4710.587 Within the index, 16 stocks rose, 24 rose …

The New Zealand dollar pared an earlier decline after Fonterra Cooperative Group, the nation’s biggest exporter, hiked its forecast payout to farmers for the second time in as many month The kiwi traded at 83.33 US cents at 5pm in Wellington climbing from as low as 83.11 cents earlier in the day. The currency had fallen from as much as …

Fonterra Cooperative Group, seeking to rebuild its reputation after a contamination scare that proved groundless, has hiked its forecast payout to farmers for a second time in as many months while warning earnings in the first half will be “significantly lower” than in 2013. On the eve of the release of its 2013 full-year results, Fonterra lifted its forecast payout …

Kathmandu Holdings shares soared to an all-time high after the outdoor equipment and clothing retailer posted record annual earnings and gave an upbeat outlook, reassuring investors after a year of changeable weather. The stock jumped about 12 percent to $3.18 and traded as high as $3.22, the highest since the company listed in late 2009. Before today, analysts polled by …

The New Zealand regulator may force pub pokie machine operators to give more back to their local communities and provide more detail on grant winners and losers. The Department of Internal Affairs, which oversees gambling regulations, has released a consultation paper on proposed changes for rules governing slot machines in pubs. Some $260 million of pokie money was returned via …

Trilogy International, which changed its named from Ecoya in June to reflect the dominance of its skincare business, forecasts a small first-half loss while tipping a second-half pickup which would help it to almost meet guidance for the full year. The net loss will probably be $514,000 in the six months ending Sept. 30, down from a loss of $782,000 …

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. Profit was $11.5 million in the year ended July 31, from $4.4 million a year earlier, the company said in a statement. Sales rose about 12 percent to $420 million, …