Former Fonterra director Greg Gent has been appointed independent chairman of Pengxin NZ Farm Management; the company which oversees the jv between Shanghai Pengxin and state-owned Landcorp. The Gent appointment is a coup for Pengxin and its Landcorp partner. Gent told newzealandinc.com that it was important for New Zealand that the joint-venture was made to work smoothly. There are six other …

The latest US economic data were disappointing, more than offsetting the decision by Federal Reserve policy makers to stick with their program of purchasing US$85 billion of bonds a month to bolster growth. “The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labour market or inflation …

New Zealand shares fell as market shooting stars such as Xero and Ryman Healthcare retreated from record highs, while Kathmandu, A2 Corp and Fonterra Shareholders’ Fund advanced. The NZX 50 Index fell 11.35 points, or 0.2 percent, to 4603.01. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $111 million. Xero, the cloud-based accounting firm …