New Zealand angel investors are backing too few start-ups and should broaden their portfolios if they want to improve their chance of a return, according to Angel Association chairman Marcel van den Assum. The success of software companies such as Wellington-based Xero had helped foster an environment where start-ups can flourish, though local angel investors have been reluctant to expand …

Fonterra Cooperative Group’s forecast 17 percent drop in its milk payout for 2014/2015 will likely weigh on the New Zealand economy next year but will have less impact on the dairy exporter’s own earnings, which have been driven by the gap between milk powders and other products. The world’s biggest dairy exporter forecast a farmgate milk payout for the coming …

Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a 63% percent jump in revenue in 2013, a boom year for market activity that saw it win a share of deals including the floats of Z Energy, Meridian Energy and Synlait Milk, Tower’s asset sales, Harvard University’s forest sale and the selldown of Air …