Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. New Zealand’s biggest company revised its forecast payout to farmers while releasing its results for the year ended July 31, which showed sales climbed 19.5 percent to …

Chorus, the telecommunications network operator, will ask shareholders to hike the pool for directors’ fees 12 percent if it needs to bolster its board as it tries to limit the impact of regulation on its revenue streams. Shareholders will vote on Oct. 29 in Wellington on whether to increase the pool to $1.1 million from $980,000 set in 2012 after …

The New Zealand dollar fell to a year low as it declined along with other commodity currencies on concern about slowing growth in China and cemented that low after Fonterra Cooperative Group cut its forecast payout to farmers. The kiwi fell to 80.40 US cents after Fonterra’s 8.30am announcement, its lowest since September last year. The dairy exporter cut the …