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Fonterra Cooperative Group’s managing director of its Asia Pacific, Middle East and Africa business unit, Pascal De Petrini, has resigned with immediate effect to take up a role with his former company and Fonterra arch competitor, the French food giant Danone, less than 18 months after moving to the world’s largest dairy exporter. De Petrini, who is a member of Fonterra’s management …

Fonterra Cooperative Group, the world’s largest dairy exporter, has acquired 18.8 percent of Shenzen-listed Beingmate Baby & Child Food, falling short of the stake of up to 20 percent it was seeking in a partial tender offer. The transaction, valued at 3,464 million RMB (NZ$755 million) is well above the $615 million Fonterra indicated it would cost for a 20 percent …

New Zealand economic growth will slow over the next three years, while maintaining a “solid” pace, according to the NZ Institute of Economic Research’s consensus forecasts. The economy is expected to expand 3.3 percent in the year ending March 31, based on the median in the survey, slowing to a 2.9 percent pace in 2016, 2.8 percent in 2017 and 2.4 percent in …

Apple Sales New Zealand, the local unit of the iPad and iPod maker, increased annual profit by 44 percent, on largely unchanged sales, as it benefited from a gain on its currency positions. Profit was $15.1 million in the year ended Sept. 27, up from $10.5 million the year earlier, according to its financial statements lodged with the Companies Office. Sales rose to …

Lion  – Beer, Spirits & Wine (NZ) Ltd , which has 46 percent of the New Zealand market and is owned by Japan’s Kirin Holdings, is making less money in the domestic market as alcohol drinkers opt for quality over quantity. Accounts for Lion filed to the Companies Office add to the picture of a declining booze industry, partly offset by a move to “premiumisation” and …

By Fiona Rotherham March 16 (BusinessDesk) – Indian billionaire Nandan Nilekani says scale is a problem New Zealand companies need to overcome to crack the growing Indian market. Nilekani has been twice named by Times magazine as one of the world’s 100 most influential people and is the former chairman of the Unique Identification Authority of India (UIDAI) which is …

The New Zealand dollar, which has declined 2.5 percent so far this month, may slip further this week with the Federal Reserve expected to signal interest rate rises are not far off. The kiwi may trade between 71.30 US cents and 75.20 cents, according to a BusinessDesk survey of 11 currency traders and strategists. Six expect the currency to decline, while …

New Zealand’s services sector, which makes up about two thirds of the economy, slowed in February while remaining in expansion, led by sales, with signs the strong pace of growth in 2014 is continuing into the current year. The BNZ-BusinessNZ performance of services index (PSI) fell 2.2 points to 55.6 last month, with all five sub-indexes above the 50 level that …

Pushpay Holdings, the NZAX-listed mobile payment app developer, has secured a $4 million funding line from cornerstone shareholder the Huljich family as it chases earnings growth in the US. Christopher & Banks Private Equity V, an investment vehicle for the Huljich family, have loaned the Auckland and Redmond-based company the cash on “arm’s length commercial terms” until June next year, Pushpay said in …

A2 Milk Co, the milk marketing company chasing a dual-listing across the Tasman, has issued an information memorandum to would-be Australian investors after gaining preliminary approval to list on the Australian stock exchange. The Auckland-based company’s application to list on the ASX has been approved in principle but is yet to finalise a date for its Australian debut, it said in a statement. A2 …