Tag: NZX

Survey finds 40% of New Zealand CEOs very confident

Press Release – PwC Survey finds 40% of New Zealand CEOs very confident about revenue growth, despite an expected challenging global economy this yearSurvey finds 40% of New Zealand CEOs very confident about revenue growth, despite an expected challenging global economy this year Findings from PwC’s New Zealand CEO Survey, released today, show New Zealand CEOs are less positive about the outlook for the global economy than they were last year, but remain optimistic about their own business growth. The report shows only 23 per cent believe the global economy will improve this year which compares to last year’s more confident 47 per cent. More than half of New Zealand CEOs believe the global economy will stay about the same this year. Despite the more challenging outlook for the global economy, 40 per cent of New Zealand respondents are very confident about their company’s growth prospects in the coming year and an additional 51 per cent are somewhat confident. PwC New Zealand Chief Executive Officer Bruce Hassall says that the outlook for New Zealand may prove to be more resilient than many currently believe. “Given the wide-ranging uncertainties CEOs are facing – cyber security, over-regulation, geopolitical stability – it’s easy to see why they’re divided about whether there are more threats or opportunities today. But it’s not all doom and gloom. Kiwi organisations are remaining optimistic about their own...

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Fonterra exits Dairy Farmers of America joint venture

Article – BusinessDesk Nov. 19 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to sell its stake in the DairiConcepts ingredients joint venture with Dairy Farmers of America for some $196 million, after deciding it didn’t fit the company’s … Fonterra exits Dairy Farmers of America joint venture, retains supply deal By Paul McBeth Nov. 19 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to sell its stake in the DairiConcepts ingredients joint venture with Dairy Farmers of America for some $196 million, after deciding it didn’t fit the company’s strategy. The Auckland-based cooperative will sell its 50 percent stake in DairiConcepts to partner DFA on Dec. 31, ending a 15-year venture where Fonterra contributed key ingredients to the US dairy and cheese flavours business, while the American cooperative supplied a number of cheese and cheese-powder assets, it said in a statement. Fonterra signed a long-term supply agreement as part of the sale. “We still value our relationship with DFA, however as the DairiConcepts business is almost completely stand-alone operationally, we have agreed that it would be simpler for one of the partners to buy the other out,” chief executive Theo Spierings said. “The US remains a key part of our global multi-hub strategy and this divestment does not prevent Fonterra from exploring new growth opportunities for this milk pool.” The exit comes...

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Werewolf Edition #44 : Referendum On A Robbery

Article – Gordon Campbell Hi and welcome to the 44th edition of Werewolf. Our cover story this month has been timed to co-incide with the looming Citizens Initiated Referendum on the government’s asset sales programme . Werewolf Edition #44 : Referendum On A Robbery From Werewolf Editor Gordon Campbell http://werewolf.co.nz/ Enter the Wolf! Hi and welcome to the 44th edition of Werewolf. Our cover story this month has been timed to co-incide with the looming Citizens Initiated Referendum on the government’s asset sales programme. From the outset, opinion polls have shown the partial asset sales programme to be wildly unpopular with the general public. As our cover story amply indicates, the selldown is also socially and economically irresponsible – and will benefit only a tiny minority of the population. Voting in the referendum will be by postal ballot, anytime between November 22 and December 12. Despite what Russell Brand says, voting is a significant act – and while the government has already made it clear that the outcome won’t stop the selldown from proceeding, a large “No” verdict would be highly relevant to next’s year’s election campaign. Elsewhere in this issue, Werewolf continues with its series analysing the (lack of) progress being made on the TPP trade pact, and explains why the Labour Party has been wise to take a ‘wait and see’ approach to a deal that may...

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NZ a decade behind Europe on sustainability: Fonterra CEO

Article – BusinessDesk Nov. 8 (BusinessDesk) The New Zealand dairy industry is a decade its primary competitors from Europe in its approach to social and environmental sustainability, according to Fonterra chief executive Theo Spierings. NZ a decade behind Europe on sustainability, says Fonterra boss By Pattrick Smellie Nov. 8 (BusinessDesk) – The New Zealand dairy industry is a decade its primary competitors from Europe in its approach to social and environmental sustainability, according to Fonterra chief executive Theo Spierings. Making his first high-profile public appearance since the false alarm over botulism in infant formula hit the company in early August, Spierings was also disarmingly frank to a senior Auckland business audience about the challenge to rebuild Fonterra’s reputation and his impatience with “hysterical” political and media comments that harmed New Zealand needlessly. “That’s one of the things where I was a bit disappointed,” said the former senior Dutch dairy industry executive, who took the helm at Fonterra, the world’s largest dairy exporter, in 2011. “Fonterra is really eight to 10 years behind the pack for sustainability and CSR (corporate social responsibility),” he told the lunchtime meeting of the Trans Tasman Business Circle. “If you expect sustainability anywhere in the world, it’s here. It’s Brand New Zealand.” Yet this year’s annual report was the first to devote significant space to reporting Fonterra’s progress. Part of the problem had not been...

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We Are Being Ripped Off | 500 Words

Column – Alastair Thompson This is 1987 all over again. A privileged elite is bulldozing through a policy against our wishes which enriches the personal short-term financial interests of a few at the expense of us all. In short, we are being ripped off. We Are Being Ripped Off | 500 Words Later today we expect Prime Minister John Key to kick off the final countdown to the sale of a 49% stake in Mighty River Power. As he does so the level of acrimony we can expect in political debate will rise. (Acrimony = “harsh or biting sharpness especially of words, manner, or disposition” ) Which is not to say that there are two sides to this debate – however much the cheerleaders say there are benefits to the NZ Capital Markets. Bottom line this is not about benefiting anyone other than share-brokers, merchant bankers, company directors and investors. It is not a democratically supported decision: – a clear majority of the New Zealand public are opposed to this sale; – a referendum will be held later this year; and – the sale is taking place against the clear stated wishes of Maoridom – the Tiriti O Waitangi treaty partner; There is no economic rationale for the sale i.e. no basis to believe – beyond blind faith and chauvinism – that this sale will result in any economic...

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