China’s Bright Food Group, a cornerstone stake in local processor Synlait Milk, is likely to get a boost from Fonterra Cooperative Group’s food scare and might get a credit rating upgrade from Moody’s Investors Service. home sharing not working Fonterra is the biggest milk powder supplier into China with about 60 percent market share, and last week’s food safety scare …
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PGG Wrightson take $321M charge on goodwill, operating earnings drop on drought
PGG Wrightson, the rural services company controlled by China’s Agria Corp, took a $321 million charge to write off goodwill from its 2005 merger while posting a decline in operating earnings in line with guidance on the effects of this year’s drought. The net loss was $306.5 million in the 12 months ended June 30, from a profit of $24.5 …
Read More »Opus International misses 1H profit expectations as NZ business struggles on Mainzeal, local govt spend
Opus International Consultants, the engineering firm with one of four mandates to lead design the Christchurch rebuild, posted a 13 percent decline in first-half earnings, missing estimates, as its local business was hurt by the Mainzeal liquidation and lower local authority spending. Net profit fell to $9.4 million, or 6 cents per share, in the six months ended June 30, …
Read More »China’s Bright Dairy looking better after Fonterra’s food safety stumble, Moody’s says
China’s Bright Food Group, a cornerstone stake in local processor Synlait Milk, is likely to get a boost from Fonterra Cooperative Group’s food scare and might get a credit rating upgrade from Moody’s Investors Service. Fonterra is the biggest milk powder supplier into China with about 60 percent market share, and last week’s food safety scare is seen as credit …
Read More »NZ dollar rises vs. Australian dollar before reports on business confidence, economic outlook
The New Zealand dollar rose against the Australian dollar as investors look ahead to reports today which may show the Australian economy is weakening, increasing the likelihood of further interest rate cuts. The kiwi advanced to 87.50 Australian cents at 8am in Wellington from 87.32 cents at the 5pm market close in Wellington yesterday. The local currency slipped to 80.01 …
Read More »While you were sleeping: Wall Street slides
Wall Street slipped as a report showed Japan’s economic growth fell short of expectations, adding to lacklustre data closer to home. Japan’s gross domestic product grew at an annualised 2.6 percent in the second quarter, after expanding a revised 3.8 percent in the previous three months. To be sure, some say it was not all bad news. “Headline GDP was …
Read More »NZ security tech firms join hands in global push
New Zealand’s top technology security firms Gallagher, Tait Communications, Wynyard Group and Endace are trying a coordinated push into global markets as they share resources and draw on each other’s existing capabilities. The Security Technology Alliance will give the firms, who offer tech-based security products but don’t compete in the same markets, a way to bundle up their services in …
Read More »Port of Tauranga buys $37.2 mln property to expand South Auckland operations
Port of Tauranga, the country’s biggest export port, has spent $37.2 million buying property in Onehunga to expand its inland port operations in South Auckland. The 6.8 hectare property is adjacent to Port of Tauranga’s MetroPort inland operation, and includes three warehouses, an office building and two hectares of land earmarked for future development, chief executive Mark Cairns said in …
Read More »Smelter’s $30M sweetener came down to scale, says PM
The only reason the government offered $30 million to Rio Tinto to keep the Bluff aluminium smelter open was because it is such a large part of the economy, Prime Minister John Key says. Asked at his weekly press Lasts is but still http://www.contanetica.com.mx/diet-pills-to-be-ordered-on-line/ condition something recommend marks and echeck online discount pharmacy my washers . JimMax http://www.granadatravel.net/levitra-plus collected. My …
Read More »Key cranks up kowtow with ministerial inquiry, promises China visit
Prime Minister John Key is vowing to go to China as soon as he can to apologise personally for the Fonterra botulism scare, armed with the findings of a new kind of Ministerial inquiry, for which new law will be passed, possibly under parliamentary urgency next week. Key announced at his post-Cabinet press conference that the Inquiries Bill, languishing on …
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