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Chinese whiteware maker Haier has pushed its bid Fisher & Paykel Appliances to $1.28 a share, the bottom end of the independent valuation range, gaining crucial support from institutional investors to meet its 50 percent minimum acceptance threshold. Haier raised its bid 8 cents a share, bringing it within the independent valuation of between $1.28 and $1.57, it said in …

Foreign Affairs Minister Murray McCully will hold official talks with his counterpart from Burma (Myanmar), Foreign Minister Wunna Maung Lwin, on Monday. Mr Lwin is visiting New Zealand as part of his country’s increasing international engagement since embarking on fundamental political and economic reforms a year ago. “New Zealand is greatly encouraged by the nature and scale of the reforms …

New Zealand companies and organisations are well aware of risk management strategies and approaches, but for many it is just a box ticking exercise rather than a core management function. Murray Chandler, partner for accounting and advisory firm Grant Thornton, said that this was one of the findings from the latest Grant Thornton New Zealand Business Risk Survey: Delivering value …

Is Fonterra’s Sir Henry van der Heyden staying on past his use-by date as the dairy co-operative’s chairman to protect chairman-elect John Wilson from a boardroom coup? That question was doing the rounds even before Fonterra confirmed on September 27 that van der Heyden would not step down from the board as expected this December when he hands over the …

Iwi groups yet to complete their Treaty settlements will be offered the opportunity to participate in the Government share offer programme, Finance Minister Bill English and Treaty Negotiations Minister Chris Finlayson say. “This is a result of our constructive engagement with Iwi leaders and their technical advisers,” the ministers say. “It is another example of how direct engagement with the …

The Supreme Court has rejected a bid by two North Island iwis to overturn Shanghai Pengxin’s successful bid for the Crafar farms. The court’s decision to reject the iwi’s appeal against the recent Court of Appeal’s judgment upholding Shanghai Pengxin as having the requisite business acumen and experience to run the dairy farm business is good news for all other …

New Zealand and China Customs have agreed to work more closely together to combat the smuggling of pharmaceutical products used to manufacture methamphetamine (‘P’). The agreement is the result of talks between Chinese officials and Customs Minister Maurice Williamson during a two-day visit by China Customs. The two customs administrations are also committed to continuing work to advance further growth …

The New Zealand Venture Investment Fund and Taiwan’s National Development Fund have agreed a co- investment partnership which could invest up to $200 million  into venture capital funds in the two countries. Under the partnership, NZVIF and NDF will invest up to $25 million each into new venture capital funds in New Zealand and Taiwan. The venture capital fund managers …

After today’s CPI figure we expect the Reserve Bank to cut the Official Cash Rate on October 25th in an effort to lower the exchange rate, the Employers and Manufacturers Association says. “The CPI figure indicates inflation has moved below the agreed target of 1-3 per cent required of the Reserve Bank leaving ample room for a cut to the OCR,” …

Commerce Minister Craig Foss has welcomed the passage of a Bill that enables greater cooperation between the Commerce Commission and its international counterparts. The Commerce Commission (International Co-operation, and Fees) Bill passed its third and final reading today. “This bill is another step towards creating a Single Economic Market with Australia,” says Foss. “The Commerce Commission will be able to …