Tag: Sharemarket

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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Confidence among CEOs at lowest level since 2012

Press Release – PwC MANILA, The Philippines, 16 Nov 2015 Asia Pacific CEOs believe prospects for business growth over the next 12 months are dimming fast. Ahead of the annual Asia-Pacific Economic Cooperation (APEC) Leaders Meeting November 18-19, business leaders have …Confidence among Asia Pacific CEOs at lowest level since 2012 • Financial market volatility dents business leaders’ confidence • But majority of CEOs plan to increase investments in the APEC region • CEOs see new wave of IT spending to modernise business operations and manufacturing • Concerns about cyber security top CEOs’ list of worries MANILA, The Philippines, 16 Nov 2015 – Asia Pacific CEOs believe prospects for business growth over the next 12 months are dimming fast. Ahead of the annual Asia-Pacific Economic Cooperation (APEC) Leaders Meeting November 18-19, business leaders have a number of concerns, according to PwC’s fifth annual APEC CEO Survey. Volatility in the financial markets this summer took a toll on CEO confidence with just 28% of business leaders are now ‘very confident’ their organisation will see revenue growth over the next 12 months. That’s down from 46% a year ago, and it is the lowest level since PwC started tracking 12-month confidence for Asia Pacific CEOs in 2012. Yet concerns are not just economic. Cyber security, exposure to natural disaster risks and regional geopolitical tensions are among the leading threats to business...

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MARKET CLOSE: NZ shares rise on TPP; SkyCity gains

Article – BusinessDesk Oct. 6 (BusinessDesk) – New Zealand shares rose after agreement was reached on the Trans Pacific Partnership deal. Xero, SkyCity Entertainment Group and Fletcher Building gained. MARKET CLOSE: NZ shares rise on TPP; SkyCity, Xero, Fletcher advance By Suze Metherell Oct. 6 (BusinessDesk) – New Zealand shares rose after agreement was reached on the Trans Pacific Partnership deal. Xero, SkyCity Entertainment Group and Fletcher Building gained. The S&P/NZX 50 Index rose 37.57 points, or 0.7 percent, to 5668.11. Within the index, 30 stocks rose, 11 fell or nine were unchanged. Turnover was $113 million. Overnight 12 Pacific Rim nations reached a deal on the controversial TTP, which covers 40 percent of the global economy and ending more than five years of negotiations to create the largest trade and investment pact since the Uruguay Round of the GATT trade agreement 20 years ago. Investors took the sealing of the deal as a confidence boost, and adopted a risk on attitude. Xero, the cloud-based accounting software firm, gained 2 percent to $15.30. The company is forgoing profit to fund its US push where it hopes to capture the small-to-medium sized business market. “A bit more risk-on trading seems to be what we’re seeing today,” said James Smalley, director at Hamilton Hindin Greene. “The markets been worried about economic growth and maybe with that TTP deal sentiment has turned...

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The FIRE Economy: New Zealand’s Reckoning – By Jane Kelsey

Opinion – Professor Jane Kelsey The global economy imploded in 2008 and confirmed a stark reality. Entire nations and billions of people are captives of an unstable and amoral economic system powered by finance , insurance and real estate FIRE. [1] New Zealand included. Click to order a copy from the Publisher The FIRE Economy: New Zealand’s Reckoning By Jane Kelsey Introduction – An Extract The global economy imploded in 2008 and confirmed a stark reality. Entire nations and billions of people are captives of an unstable and amoral economic system powered by finance, insurance and real estate – FIRE. [1] New Zealand included. ‘The FIRE economy’ is a metaphor for the fundamental shift in global capitalism since the 1970s. Finance has replaced industry as the driver of wealth creation in affluent countries – a transformation known as financialisation. Neoliberal ideology, rules and institutions acted first as the midwife and then as the guardian of this new economic order. The Global Financial Crisis (GFC) showed the world’s richest countries, notably the US and the nations of Europe, that the globally integrated economy they had created, and from which they have prospered, could also bring them to their knees. Faith in the neoliberal ‘orthodoxy’ that shaped and sustained them seemed shattered. The fallout was fast and furious, and quickly spread to many other parts of the world. A cursory look...

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