Fonterra puts equity trust idea on hold
Fonterra Co-operative Group has put on hold plans to develop an Equity Partnership Trust that would have given its 10,500 farmer suppliers access to investor capital to help them with the compulsory....
Fonterra Co-operative Group has put on hold plans to develop an Equity Partnership Trust that would have given its 10,500 farmer suppliers access to investor capital to help them with the compulsory....
Pressure is building on Fonterra chief executive Theo Spierings as the dairy industry faces up to a winter of discontent, writes Liam Dann.
Jamie Gray writes: For Fonterra's farmers, investors and employees the severity of the dairy downturn will become clear early next month.
Having its main office in Auckland is a big part of the dairy giant's problem, writes Brian Gaynor.
BNZ has lowered its 2015/16 milk price forecast for Fonterra but says it expects dairy prices to recover late this year.
NZX dairy futures prices are trading at a discount to the physical market in the aftermath of a worse-than-expected GDT auction.
Dairy giant Fonterra cut 523 jobs yesterday - in a bid to cut its payroll bill by up to $60 million a year - on a day of bad news for the economy.
Hundreds of Fonterra employees and thousands of its farmer-shareholders have been dealt the twin blows of impending job losses and the prospect of a much lower farmgate milk price.
Fonterra's board will consider its current farm gate milk price forecast for 2015/6 at its next meeting on August 7, a spokesman for the co-operative said.
Dairy prices have plunged in the latest world dairy auction, taking the Kiwi dollar down with it.
Fonterra says it is disappointed about a poor first-half result expected by its Chinese infant formula investment, Beingmate Baby & Child.
Farmer sentiment has been dented by a slump in dairy prices and conditions which saw more stock sent to slaughter earlier.
In submissions to the Commerce Commission, Fonterra's competitors say there is insufficient competition to deregulate.
The Chinese dairy firm partially owned by Fonterra has been suspended from trading amid the Chinese stock market turmoil.
The family of Fonterra's first chief executive, Craig Norgate, may have to wait more than two weeks before they can bring his body home for a funeral in Taranaki.
Accolades for Craig Norgate rolled in yesterday from the rural and corporate sectors after the high-flying executive died suddenly in London.
The family of Fonterra’s first chief executive Craig Norgate may have to wait more than two weeks before they can bring the 50-year-old’s body home.
The New Zealand dollar fell after prices for the nation's largest commodity export declined in the latest GlobalDairyTrade auction overnight.
The price for NZ's key dairy export, whole milk powder, is set to decline further at tonight's GlobalDairyTrade auction.
MP says cost to Kiwis unacceptable as Fonterra, supermarkets point finger at one another.
One fact is often overlooked amid all the hype about business opportunities in China.
Prime Minister John Key says overseas markets are causing high prices for milk at home.
The account surplus was larger-than-expected in the first quarter as spending by tourists widened the services balance.
Dairy prices slipped again at this morning's GlobalDairyTrade auction, the GDT price index falling by 1.3 per cent.
Fonterra has once again successfully tapped into the so-called dim sum bond market in Hong Kong by this week raising 1 billion renminbi ($230 million) through a five-year bond.
More falls in dairy prices are expected in the next few months, but futures market pricing suggests a mild bounce-back might take place at tomorrow's GlobalDairyTrade auction.
Opposition parties have labelled Fonterra chief executive Theo Spierings' $4.18m salary as "absurd".