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Hundreds of Auckland householders are receiving a financial boost of $335 today, in a record annual electricity dividend totalling $105 million from Auckland Energy Consumer Trust The trust is making its annual payment to more than 316,000 households, businesses, schools and community groups who are customers of power lines company Vector throughout central Auckland, Manukau and northern Papakura.  They receive the payments regardless of which power retailer they are …

The New Zealand dollar fell to a year-low after Fonterra Cooperative Group cut its forecast payout to farmers for the current season in the face of dwindling dairy prices. The decline was limited by reports Japanese Prime Minister Shinzo Abe is wary of weakness in the yen. The kiwi dollar fell as low as 80.40 US cents after the Fonterra announcement, trading …

Fonterra Cooperative Group has predicated its reduced milk price forecast for the 2014/2015 season on a recovery in dairy product prices of about 30 percent by March next year, chief executive Theo Speirings says.  The world’s biggest dairy exporter today cut its forecast 2015 milk price payout by about 12 percent to $5.30 per kilogram of milk solids from a previous …

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 …

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 …

Health-care stocks including Medtronic fell after the US Treasury Department said it plans to rein in corporate tax inversions. A corporate inversion is a transaction in which a US-based multinational restructures so that the US parent is replaced by a foreign parent, in order to avoid US taxes. In the US, shares of Medtronic fell 3.3 percent and shares of …