The New Zealand government is still pushing for a shared trans-Tasman tax scheme recognising imputation credits on dividends, which it says is the single biggest step to a closer economic relationship, but is willing to give Australia time to bring it in. In a submission to Australian Prime Minister Tony Abbott’s white paper on tax reform, the New Zealand government resumed its …

Fonterra Cooperative Group, the world’s largest dairy exporter, said it will be laying off hundreds of its 1,500 head office and support function staff in a major reshape of the business following the global decline in dairy prices. Chief executive Theo Spierings has fronted up to media today about the restructure following widespread criticism over the dairy cooperative’s management performance at a …

 Danone Nutricia, the French-owned infant formula maker, has reported a full-year loss it attributes to ongoing fallout from the Fonterra Cooperative Group’s botulism scare in 2013. The New Zealand subsidiary of the French food giant posted a loss of $1.19 million for calendar 2014, compared to a profit of $1.99 million a year earlier. Danone Nutricia ended its supply contract with …