Diligent Board Member Services, the governance app maker hit by a slew of administrative mis-steps, will restate how it has recognised revenue over the past three financial years, delaying publication of second-quarter trading, which it says will show slowing sales in the US. The New York-based company will restate financial statements for the 2010, 2011, 2012 financial years and the …

Wall Street slipped from record highs amid comments by a US Federal Reserve official that the central bank should start tapering its bond-buying program next month. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.32 percent, the Standard & Poor’s 500 Index eased 0.20 percent and the Nasdaq Composite Index slipped 0.07 percent. Declines in …

The New Zealand dollar recovered some ground on confidence trade with China would not be as severely affected as first thought by a food contamination scare at Fonterra Cooperative Group, the nation’s largest company. The kiwi rose to 78.05 US cents at 8am in Wellington from 77.71 cents at 5pm yesterday. The trade-weighted index advanced to 74.04 from 73.81 yesterday. …

Fonterra Cooperative Group chief executive Theo Spierings has expressed regret at a Chinese media conference for consumer anxiety caused by revelations that batches of whey protein had been contaminated. The conference was broadcast live on the Reuters livestation website and translated into Chinese. The three contaminated batches were used in the manufacture of infant formula and sports drinks. “We regret …

The New Zealand dollar may decline this week as some traders deem its recent rise above 80 US cents as overdone and as potential damage to exports from a food contamination scare at dairy giant Fonterra Cooperative Group weighs on sentiment. The local currency may trade between 75.50 US cents and 80.60 cents this week, according to a BusinessDesk survey …

Postie Plus Group, the beleaguered clothing retailer, has appointed No 1 Shoes executive Richard Binns as its new chief executive. Binns will join the retailer on Sept. 16, replacing long-serving Ron Boskell who departed in January. He was previously general manager operations at Hellaby Holdings-owned No 1 Shoes, chief operating officer at Overland, and head of general merchandise at Warehouse …

Units of Fonterra Shareholders’ Fund tumbled to the lowest level this year, leading a decline in dairy-related companies on the NZX, amid investor concern earnings will suffer from the discovery of a bacteria contamination in batches of whey protein. Units of the fund, which give investors access to the dividends from Fonterra’s shares, fell 8.6 percent to $6.51, erasing more …

Auckland house prices rose for a third month in July as listings and sales jumped, according to Barfoot & Thompson, the city’s biggest realtor. The average sale price rose 0.7 percent to $654,379 last month, adding to a 0.8 percent gain in June, the firm said. The median price fell to $585,000 from $590,000. A shortage of new homes in …

Property for Industry, which doubled in size following a merger, posted an 8.8 percent increase in first-half rental income and said profit was lifted by non-cash valuation changes and a smaller tax bill. Profit rose to $11.87 million in the six months ended June 30, from $7 million a year earlier, the Auckland-based company said in a statement. Sales rose …

Synlait Milk, the Rakaia-based milk processor which listed last month, says its infant formula products haven’t been caught up in Fonterra Cooperative Group’s botulism scare, and doesn’t expect any long-term impact on its own business. non prescription cialis The company hasn’t used any whey protein concentrate WPC80 that has been recalled by Fonterra and the Ministry for Primary Industries, though …