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Finance Minister Bill English has appointed former Bell Gully partner Jonathan Ross and US-based venture capitalist Bridget Liddell to the board of the Reserve Bank. Ross joins the board today, replacing academic Chris Eichbaum, whose five-year tenure ended on July 31, and Liddell will join the board from October, replacing outgoing chairman Arthur Grimes. Rod Carr was elected chair by …

Health Minister Tony Ryall and Food Safety Minister Nikki Kaye confirm that Nutricia has today narrowed the scope of the recall for infant formula.  “The Ministry for Primary Industries and Nutricia’s verification work has enabled the recall to be narrowed only to 900g cans manufactured between 21 May 2013 and 2 August 2013 inclusive,” Kaye says.  The following 900g cans remain …

The Ministry for Primary Industries investigation into Fonterra Cooperative Group’s potentially tainted whey protein concentrate will take up to six months. jobs working from home Acting MIP director general Scott Gallacher said the 20-person probe spear-headed by the ministry’s compliance director probably take between three and six months. The investigation will determine whether Food Act and Animal Products Act regulations …

Sanford, New Zealand’s largest listed fishing company, said annual profit will fall short of its forecast after lower catches of skipjack tuna and toothfish and slow growth in its main Marlborough mussel growing area. The shares fell. Profit will probably be $23 million to $25 million in the year ending Sept. 30, from $21 million last year, the Auckland-based company …

Global metals giant Rio Tinto has told shareholders it has given up trying to sell four Australasian aluminium smelters and associated assets, including the Tiwai Point smelter. The announcement that Rio will “bring the assets back into our aluminium product group” came just hours after Meridian Energy announced it had renegotiated electricity contracts for the Tiwai Point smelter, which had …

Rural Equities and interests associated with the Cushing family have built up a 17.7 percent stake in ASX-listed agribusiness Tandou. The Hawkes Bay farming group controlled by the Cushings bought an 11 percent parcel in Tandou for $7.9 million at an average price of about 43 Australian cents, Rural Equities said in a statement to the Unlisted platform. The investment …

Argosy Property will seek a 31 percent hike in the pool for directors’ fees at this month’s annual meeting as the company seeks to expand its board by two directors. Shareholders will be asked to approve lifting the fee pool to $655,000 from $500,000 at the Aug. 23 meeting in Auckland, the first lift since Argosy bought out its external …

The New Zealand dollar rose to its highest in almost two weeks as investors unwound bets the greenback would advance amid uncertainty about when the Federal Reserve will begin tapering monetary stimulus. The kiwi jumped to 80.17 US cents at 8am in Wellington, after earlier touching 80.46 cents, from 79.60 cents yesterday. The trade-weighted index increased to 75.27 from 74.90 …

Wall Street rose, stemming a three-day slide, as the latest exports data from China and Germany surpassed expectations, bolstering optimism about the economic recovery. China’s exports climbed 5.1 percent in July from a year ago, well above the 2 percent increase predicted in a Bloomberg News survey and also comfortably above the 3 percent forecast in a Reuters poll. It …

Former Commonwealth Bank of Australia chief Ralph Norris is to lead Fonterra Cooperative Group’s board inquiry into the botulism contamination scare, helped by former High Court judge Judith Potter and Chapman Tripp lawyer Jack Hodder QC. home based business ideas Norris, an independent director of Fonterra, will lead a committee of six that Smell lighter work Walgreens. My the best …