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The Fonterra Shareholders’ Fund, whose units soared 26 percent on their first day of trading, will tip wool carpetmaker Cavalier Corp out of the benchmark NZX 50 index this month. The Fonterra fund, which has surged by a third from their $5.50 offer price, has met the ranking and liquidity requirements and will join the benchmark index on Jan. 21, …

New Zealand shares rose for a fifth straight session, as the local market continued to bask in its status as relatively high yielding in an economy that’s growing modestly. Skellerup Holdings and Cavalier led gainers and Fletcher Building reached a 19-month high. The NZX 50 rose 12.67 points, or 0.3 percent, to 4131.754, a new five-year high. Within the index, …

essays about love Yashili International Holdings, which manufactures and distributes infant milk formula products in China, is the latest Chinese company looking to invest in New Zealand, with plans to build a 1.1 billion yuan ($210 million) processing plant. The Chaozhou City, Guangdong-based company’s board signed off on a project to set up a manufacturing facility in New Zealand to …

Michael Hill International, the jewellery chain that bears its founder’s name, said sales growth stalled in the second quarter, which limited earnings growth in the first half of the year. “December quarter sales, including the critical Christmas trading period, fell short of our forecasts and didn’t deliver the improvement over last year that the company had expected,” the Brisbane-based company …

Wall Street advanced as better-than-expected exports data from China underpinned hope the world’s second largest economy will help propel growth elsewhere. China’s overseas shipments jumped 14.1 percent from a year earlier last month. That compared with the 5 percent median forecast in a Bloomberg News survey of 40 economists. And the US replaced the EU last year as China’s largest …

New Zealand shares rose, pushing the NZX 50 Index to a new five-year high, as expectations of a pickup in building activity lifted companies such as Fletcher Building, Steel & Tube Holdings and Cavalier. PGG Wrightson rose to a 17-month high. The NZX 50 rose 15.54 points, or 0.4 percent, to 4119.08, the highest since November 2008. Within the index, …

Nelson-based Brightwater Group, which last year threatened redundancies over delays to Bathurst Resources’ proposed coal mine on the Denniston Plateau, has been ordered to pay more than $77,000 to in lost wages and compensation over the way it laid off four staff in 2010. Employment Relations Authority member Helen Doyle found the engineering firm ran a flawed and predetermined process …

Some $1.28 billion of investment funds could be looking for a high-yielding home in the next few months amid speculation ANZ New Zealand and a local unit of National Australia Bank will call hybrid notes they sold in 2008 when interest rates were high. ANZ has $835 million of perpetual callable subordinated bonds with a first call date of April …

New Zealand commodity prices rose for a fifth straight month in December, led by a surge in pelt prices and gains for aluminium and beef, though a strong New Zealand dollar eroded the benefits to local producers. The ANZ Commodity Price Index rose 1 percent in to be 7 percent up since July last year. The index is still 14 …

Shares in Summerset Group climbed 0.9 percent to $2.28 after the retirement village operator and developer beat the sales forecasts published in its initial public offer document last year. The Wellington-based group sold 331 occupation rights for more than $100 million to village residents in the 2012 calendar year, from 231 sales and resales a year earlier, the company said …