Fonterra shareholders voted to re-elect incumbent directors John Wilson and Nicola Shadbolt to the Fonterra board. They will be joined by new director Blue Read, a former chairman of the Fonterra Shareholders’ Council from 2007 – 2010. Read, aged 57, lives and farms near Urenui in Northern Taranaki.? Blue is the current Chairman, New Zealand Co-operative Business Association, and has …

The Reserve Bank has approved Heartland New Zealand’s application to be a licensed bank, ending a long wait for the lender. The central bank said Heartland has become New Zealand’s 22nd registered bank in a brief statement. Securing a banking licence has been a key plank of Heartland’s strategy in a shift away from a new regulatory regime that imposed …

Shares in Trade Me have been halted as Australian publisher Fairfax Media sells its remaining 51 percent in the New Zealand online auction site. The shares have been halted to let a bookbuild take place for the sale of Fairfax’s shares, Trade Me said, without disclosing a price. Media reports have put the sale price at A$3.05 a share, a …