Business reporter, NZ Herald
We are your advocate, Aotearoa. Uncovering stories that matter, asking hard-hitting questions of those in power, live-blogging sport events, monitoring the highs and lows of the NZX and providing Premium expert opinion and analysis. Bringing you distinctive, quality journalism and breaking news from across New Zealand and around the world. With specialists working together to create indepth reads, engaging video, and unmissable podcasts.
![Lodestone Energy sets sights on Mackenzie Country](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Lodestone Energy sets sights on Mackenzie Country
The company has plans for a solar farm on the high-country Haldon Station.
![How a high-flying bond trader became one of NZ’s largest farmers](/pf/resources/images/placeholders/placeholder_l.png?d=783)
How a high-flying bond trader became one of NZ’s largest farmers
Corporate farming a trend, don't write off the family farm just yet, Forbes Elworthy says.
![Dairy farmers will need to tighten belts this season, says DairyNZ](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Dairy farmers will need to tighten belts this season, says DairyNZ
Inflation has eaten into what historically would have been a strong farmgate milk price.
![The rise, fall and rise of a2 Milk](/pf/resources/images/placeholders/placeholder_l.png?d=783)
The rise, fall and rise of a2 Milk
The stock has been the market’s strongest performer to date.
![What went wrong with Synlait and how new chair plans to fix it](/pf/resources/images/placeholders/placeholder_l.png?d=783)
What went wrong with Synlait and how new chair plans to fix it
The cash-strapped dairy company Synlait can be restored, he says.
![Fonterra 2024/25 milk price heading well north of $8/kgMS](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra 2024/25 milk price heading well north of $8/kgMS
Prices for a key ingredient of chocolate and icecream rose in a strong auction showing.
![S&P backs Fonterra's consumer plan](/pf/resources/images/placeholders/placeholder_l.png?d=783)
S&P backs Fonterra's consumer plan
S&P Global Ratings has lent its support to Fonterra's plan to sell its consumer business.
![Fonterra puts a big chunk of its business up for sale](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra puts a big chunk of its business up for sale
In a big step change, Fonterra is looking to sell its Consumer business.
![Fonterra looks to sell global consumer business, including Anchor brand](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra looks to sell global consumer business, including Anchor brand
Fonterra says it is looking to sell businesses, including its global consumer operation.
![How Anzco Foods bucked the trend to turn in a profit for 2023](/pf/resources/images/placeholders/placeholder_l.png?d=783)
How Anzco Foods bucked the trend to turn in a profit for 2023
The meat processor and exporter is facing higher costs and a slow recovery in China.
![Cream of the crop: NZ's 10 largest dairy farmers revealed](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Cream of the crop: NZ's 10 largest dairy farmers revealed
After a tumultuous decade, some new names have emerged as NZ's biggest dairy farmers.
![Genesis boss warns NZ's gas production is falling quickly but demand not](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Genesis boss warns NZ's gas production is falling quickly but demand not
Genesis Energy says gas production is falling at a faster rate than forecasts.
![PGG Wrightson downgrades forecast as trading conditions worsen](/pf/resources/images/placeholders/placeholder_l.png?d=783)
PGG Wrightson downgrades forecast as trading conditions worsen
Market conditions are impacting the whole of the agricultural sector, the firm says.
![AI will be part of Scott Technology’s evolution, says CEO](/pf/resources/images/placeholders/placeholder_l.png?d=783)
AI will be part of Scott Technology’s evolution, says CEO
The company reported a fall in net profit in its first half result.
![Westland Milk posts big lift in net profit](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Westland Milk posts big lift in net profit
Westland operator has had big success with Costco.
![Synlait shuffles deckchairs to speed up asset sales](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait shuffles deckchairs to speed up asset sales
Synlait has put its chief finance officer in charge of speeding up the sale of Dairyworks.
!['Let's flush the dunny and move on': PGG Wrightson chairman on what next after boardroom wrangle](/pf/resources/images/placeholders/placeholder_l.png?d=783)
'Let's flush the dunny and move on': PGG Wrightson chairman on what next after boardroom wrangle
Boardroom ructions at PGG Wrightson have been a major distraction.
![Too much capacity, too much debt: Synlait thrown a lifeline](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Too much capacity, too much debt: Synlait thrown a lifeline
Synlait Milk's plan to cut debt may involve the sale of its Pōkeno plant.
![Synlait deeply in the red, wins reprieve from bankers](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait deeply in the red, wins reprieve from bankers
Five key elements are outlined for Synlait to have a clear plan to slash debt.
![Synlait’s debt impasse set to go down to the wire](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait’s debt impasse set to go down to the wire
Investors in company will have to wait until Tuesday for an update on its debt.
![Fonterra boosts first-half profit and dividend](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra boosts first-half profit and dividend
The co-op voices confidence despite 'continuing global uncertainty'.
![Dairy prices weaken again - will Fonterra's milk price forecast follow?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Dairy prices weaken again - will Fonterra's milk price forecast follow?
Dairy prices fell again at this morning's Global Dairy Trade auction.
![Synlait's options for paying back its $130m debt](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait's options for paying back its $130m debt
Synlait is required to make a prepayment of at least $130m by no later than March 31.
![PGG Wrightson's biggest shareholder takes aim at performance, agitates for board changes](/pf/resources/images/placeholders/placeholder_l.png?d=783)
PGG Wrightson's biggest shareholder takes aim at performance, agitates for board changes
Singapore’s Agria wants to arrest what it said was a four-year financial decline.
!['The meat industry has been the toughest of the lot': Alliance chairman stands down](/pf/resources/images/placeholders/placeholder_l.png?d=783)
'The meat industry has been the toughest of the lot': Alliance chairman stands down
He talks about the tough China market and getting a free-trade deal with India.
![Synlait delays first-half result, keeps market guessing](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait delays first-half result, keeps market guessing
Cash-strapped Synlait Milk had delayed the release of its first-half result.
![The China enigma: NZ commodities face a mixed outlook](/pf/resources/images/placeholders/placeholder_l.png?d=783)
The China enigma: NZ commodities face a mixed outlook
NZ's main commodities face uncertainty in their biggest market - China.
![NZ King Salmon finally gets green light to farm fish in Cook Strait](/pf/resources/images/placeholders/placeholder_l.png?d=783)
NZ King Salmon finally gets green light to farm fish in Cook Strait
NZ King Salmon has finally been given the go-ahead for Blue Endeavour.
![PGG Wrightson dividends in doubt after profit slump](/pf/resources/images/placeholders/placeholder_l.png?d=783)
PGG Wrightson dividends in doubt after profit slump
PGG Wrightson's first-half result reflects tough times down on the farm.
![A2 Milk back in favour after strong first half](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A2 Milk back in favour after strong first half
Alternative dairy company a2 has claimed a top-five spot in China's formula market.
![A2 Milk rallies sharply after profit beats forecasts](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A2 Milk rallies sharply after profit beats forecasts
A2 Milk's first-half earnings have defied a slump in China's infant formula market.
![Synlait keeps market guessing on Dairyworks](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait keeps market guessing on Dairyworks
Higher financing costs are driving Synlait Milk to a big first half loss.
![Higher NZ farmgate milk prices beckon after strong GDT auction](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Higher NZ farmgate milk prices beckon after strong GDT auction
What was driving demand at this morning's Global Dairy Auction?
![NZ dairy’s China opportunity: Can the growth continue?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
NZ dairy’s China opportunity: Can the growth continue?
NZ has a commanding position in China's dairy industry. How long can it last?
![Dairy prices at GDT auction end 2023 strongly](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Dairy prices at GDT auction end 2023 strongly
Dairy prices have finished the year on a bullish note at this morning's global auction.
![Alliance looks at capital structure after $98m pre-tax loss](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Alliance looks at capital structure after $98m pre-tax loss
Alliance's capital structure is in the spotlight after this year's big loss.
![NZ primary sector exports set to dip in 2024 before recovering](/pf/resources/images/placeholders/placeholder_l.png?d=783)
NZ primary sector exports set to dip in 2024 before recovering
The sector had navigated a 'confluence of global events' this year.
![Bad news for NZ farmers as Aussie increases sheepmeat supply](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Bad news for NZ farmers as Aussie increases sheepmeat supply
Farmers' profits forecast to be 60 per cent lower than two years ago.
![Why cheaper cheese prices could be in store for consumers](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Why cheaper cheese prices could be in store for consumers
Cheddar prices tumble at Global Dairy Trade auction.
![Mercury Energy's new wind farm to power 20,000 homes](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Mercury Energy's new wind farm to power 20,000 homes
The company has completed stage one of its new wind farm.
![A2 Milk sticks to its earnings outlook, share price jumps](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A2 Milk sticks to its earnings outlook, share price jumps
China's slower birth rate weighs on a2 Milk's share price.
![Stock Takes: Can cash-strapped Synlait find a buyer for Dairyworks?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Stock Takes: Can cash-strapped Synlait find a buyer for Dairyworks?
Hopes of a quick sale by Synlait of its Dairyworks business look to be fading.
![Meat exporter pins its hopes on India while de-risking China trade](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Meat exporter pins its hopes on India while de-risking China trade
Alliance expects a National-led Government to get an FTA with India over the line.
![Pressure goes on Fonterra's milk price after strong GDT auction](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Pressure goes on Fonterra's milk price after strong GDT auction
Dairy prices registered their fourth successive gain at this morning's GDT auction.
![Sour mood? a2 Milk, Synlait head to arbitration](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Sour mood? a2 Milk, Synlait head to arbitration
A2 Milk and Synlait Milk are going to arbitration over their supply deal.
!['Evil' inflation cooled slightly in third quarter](/pf/resources/images/placeholders/placeholder_l.png?d=783)
'Evil' inflation cooled slightly in third quarter
New inflation figure below most market expectations.
![Fonterra ups milk price forecast to $7.25/kg midpoint](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra ups milk price forecast to $7.25/kg midpoint
Fonterra upgrade reflects better supply and demand dynamics.
![Could El Niño disrupt NZ's agricultural production?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Could El Niño disrupt NZ's agricultural production?
Dramatic temperature swings from climate cycle expected to shake up crucial sector.
![NZ meat industry faces challenges as China clears inventory](/pf/resources/images/placeholders/placeholder_l.png?d=783)
NZ meat industry faces challenges as China clears inventory
While market conditions are tough, there's 'a glimmer of positivity' for the future.
![Futures points to another big gain in dairy prices](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Futures points to another big gain in dairy prices
Some dairy gains expected - but is the futures market pricing overcooked?
![Synlait doesn’t rule out capital raise if asset sale falls through](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait doesn’t rule out capital raise if asset sale falls through
Cash-strapped Synlait Milk has DairyWorks up for sale.
![Synlait reports $4.3m net loss, net debt up 21 per cent](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Synlait reports $4.3m net loss, net debt up 21 per cent
The company had forecast a result ranging from a net loss of $5m to a net profit of $5m.
![Stock Takes: Synlait’s big reveal, Fisher and Paykel's investor day](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Stock Takes: Synlait’s big reveal, Fisher and Paykel's investor day
More light will be shed on the state of play with cash-strapped Synlait Milk on Monday.
![Market close: Fonterra rebound enlivens flat trading on NZX](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Market close: Fonterra rebound enlivens flat trading on NZX
Units in Fonterra rallied sharply after a better-than-expected result.
![Say cheese: What drove Fonterra’s record $1.6b profit](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Say cheese: What drove Fonterra’s record $1.6b profit
Cheese and protein portfolios propel surge in Fonterra profit.
![Will firm dairy prices go the distance?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Will firm dairy prices go the distance?
China played a big part in this morning's dairy price bounce.
![a2 Milk cancels exclusive deal with Synlait](/pf/resources/images/placeholders/placeholder_l.png?d=783)
a2 Milk cancels exclusive deal with Synlait
Milk company says supplier has fallen below delivery standards.
![Beyond the pain: What lies ahead for dairy?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Beyond the pain: What lies ahead for dairy?
Rabobank says tough times faced by the dairy sector won't last forever.
![Has the tide turned? Dairy prices partially rebound at auction](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Has the tide turned? Dairy prices partially rebound at auction
Prices for crucial exports staged a partial rebound at this morning's big auction.
![Will dairy prices level out after last month’s rout?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Will dairy prices level out after last month’s rout?
But long-term gloom remains on lower demand from China.
![Fonterra falls in latest world dairy company rankings](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra falls in latest world dairy company rankings
Only five of the top 20 companies retained the same position as last year.
![Faltering Chinese economy hits NZ red meat exports](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Faltering Chinese economy hits NZ red meat exports
Annual red meat exports dropped 24 per cent in July.
![A2 Milk’s can conundrum - what to do with a mountain of money](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A2 Milk’s can conundrum - what to do with a mountain of money
At balance date the company still had a lazy $757.2m lying around.
![A2 Milk disappoints despite record $1 billion in China sales](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A2 Milk disappoints despite record $1 billion in China sales
But the firm still faces issues in the infant formula market in China.
![Fonterra cuts milk price forecast for second time in a month](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Fonterra cuts milk price forecast for second time in a month
“This is a challenging time for New Zealand’s dairy farmers."
![Dire prediction of 12-18 months of reduced income for farmers](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Dire prediction of 12-18 months of reduced income for farmers
DairyNZ has calculated a break-even dairy price of $7.51/kg for farmers.
![Economists revise their forecasts after dairy price slump](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Economists revise their forecasts after dairy price slump
A 'bloodbath' was expected at the Global Dairy Trade auction - and it delivered.
![‘Expect a bloodbath’: Futures pricing suggests another weak dairy auction](/pf/resources/images/placeholders/placeholder_l.png?d=783)
‘Expect a bloodbath’: Futures pricing suggests another weak dairy auction
Prices are expected to weaken further at latest Global Dairy Trade auction.
![ANZ takes a knife to its milk price forecast](/pf/resources/images/placeholders/placeholder_l.png?d=783)
ANZ takes a knife to its milk price forecast
Dairy commodity prices have dropped sharply lately, and further weakness is forecast.
![Milk price meltdown: The $5b hit coming to NZ’s economy](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Milk price meltdown: The $5b hit coming to NZ’s economy
It means less tax for the Government and some farmers may not be able to stay in business.
![Commodities downturn: Fonterra slashes milk price forecast](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Commodities downturn: Fonterra slashes milk price forecast
Price is well below what most economists were expecting.
![A ‘shocker’ dairy auction: Prices fall despite China’s return](/pf/resources/images/placeholders/placeholder_l.png?d=783)
A ‘shocker’ dairy auction: Prices fall despite China’s return
Dairy prices fell sharply at this morning's Global Dairy Trade auction.
![Sea change: Offshore wind power within a decade?](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Sea change: Offshore wind power within a decade?
CEO of wind power generator enthusiastic about the potential.
![Nation of Debt: $63b down, farmers struggling to break even](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Nation of Debt: $63b down, farmers struggling to break even
Farm debt has come down but rising costs and a falling milk price are piling pressure on.
![Why cheese and milk prices remain high and will take time to drop](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Why cheese and milk prices remain high and will take time to drop
Persistently high cheese prices are helping to keep NZ inflation high.
![Forestry group slams ETS reform as 'vandalism'](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Forestry group slams ETS reform as 'vandalism'
Climate Forestry Association CEO Andrew Cushen says the system is already working.
![Singapore fling: Comvita likes what it sees in honey acquisition](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Singapore fling: Comvita likes what it sees in honey acquisition
Honey exporter Comvita has pushed further into Asia with its deal to buy HoneyWorld.
![Boost in fight against predators, as NZCF takes half share in NZ AutoTraps](/pf/resources/images/placeholders/placeholder_l.png?d=783)
Boost in fight against predators, as NZCF takes half share in NZ AutoTraps
The parties say the deal will boost the country’s fight against predators and pests.