Accounting software firm Xero had $85 million of cash at the end of 2012 after raising $60 million in a private placement in December. The figure is revealed in its first quarterly cashflow report, which is required by the ASX. Xero took up a secondary listing on ASX in November. The report shows net operating and investing cash outflows for …

Reserve Bank governor Graeme Wheeler singled out rising house prices as a threat to the country’s financial stability and kept the official cash rate at 2.5 percent, as expected, saying the overvalued New Zealand dollar was holding consumer prices below the bank’s target band. “The bank does not want to see financial stability or inflation risks accentuated by housing demand …

People’s Daily editor Zhang Xinyu in a signed editorial has criticised the tactics used by  Fonterra and the New Zealand Government t0 minimise the DCD problem as “not smart.” Zhang notes the Ministry of Primary Industries insists that traces of DCD did not pose a threat to food safety – quoting MPI’s statement that on the highest levels detected, a 60-kg person …