Dairy product prices rose at the latest GlobalDairyTrade auction, led by surging prices for butter and cheese, two products which have posed problems for Fonterra Cooperative Group as their prices lagged whole milk powder. The GDT Price Index increased 1.4 percent from the last sale on Jan 8. The average winning price was US$5,025 per tonne from US$4,953 a tonne …

The New Zealand dollar held yesterday’s gains after a surprise rise in December inflation heightened expectations the Reserve Bank might hike interest rates as early as next week and as the latest Fonterra Cooperative Group dairy auction showed an increase in prices. The kiwi traded at 83.09 US cents at 8am from 83.21 cents yesterday, holding on to most of …

After a long weekend, Wall Street returned with a sombre mood as the earnings outlook from companies including Johnson & Johnson and Verizon failed to justify current valuations. Shares of Johnson & Johnson dropped, last 2 percent weaker, after its earnings outlook fell short of expectations. The outlook reflects “some level of conservatism-in line with historical guidance-given still seemingly weak …