Fonterra is “humming” in China, according to a headline in the NZ Herald, although the text of the article beneath it mentioned the “woes” associated with the co-op’s investment in Beingmate.
The co-op is having to absorb an impairment of $405m on the value of its 18.8% holding in Beingmate. On top of the $183m payment it has had to make French giant Danone, the writedown takes the gloss off that otherwise “humming” performance.
Some of its farmer-shareholders may be looking over the fence to the rather different outcome for A2 Milk, which lifted its annual sales 68% in the June year, with revenue rising from $549m in the June 2017 year to $922m. During the latest year A2 Milk achieved gross margins up to 49%. Continue reading “Beingmate has muted Fonterra’s Chinese hum”
Local Government New Zealand president Dave Cull made “revitalising democracy” the highly worthy subject of his opening address to the 2018 LGNZ Conference.
He made no mention of increasing pressures on local authorities to make special arrangements for Maori representation with processes which distort the democratic concept of one citizen, one vote and – when put to the test in local referendums – are found to be unpopular with most voters.
Cull talked. rather, of
” … the strong importance of local and central government partnership on the economic, environmental, social and cultural well-being of New Zealanders; working together to address the country’s needs, common priorities and agreed of work agreed around housing, water, climate change and regional development…”
Continue reading “The LGNZ power grab: some matters should be surrendered to central govt”
New Zealand has been braced for the economic fallout from the trade wars triggered by Donald Trump. Worse, Trump’s disdain for the World Trade Organisation threatens to cripple the rules-based global trading system which enables small countries to get a fair deal from much bigger ones.
But so far the economic and financial fallout from the trade wars has been minor.
What’s going on?
Just wait, says American economist Barry Eichengreen, who warns we should expect a lagged effect. Continue reading “Not much fallout from Trump’s trade wars? Not yet – so be prepared”
We learn today of two Cabinet ministers attending a dinner hosted by Google’s top lawyer under secretive “Chatham House” rules, but they made no notes of what was discussed.
According to a report at Stuff, Google’s chief counsel, Kent Walker, hosted the dinner at the capital’s Wellington Club. Among the guests were Justice Minister Andrew Little, Open Government Minister Clare Curran and top public servants and lawyers.
In response to requests under the Official Information Act, Little and Curran both said they kept no notes or memos from the event.
National’s spokesman for open government, Nick Smith, accordingly is complaining of Continue reading “Psst! If you want to keep a secret, put it in Clare Curran’s custody”
A quote in bold type leapt from the pages of The Guardian this week, while a heated discussion was raging in this country about the rights of two Canadians to speak in Auckland and – if so – whether they should be allowed to speak at a venue owned by the Auckland Council.
The prospect that Muslims might be offended was among the objections raised by the forces of suppression and censorship.
The counter-argument was articulated – among others – by a group of lawyers, academics and former politicians called the Free Speech Coalition. This organisation announced on Tuesday it had raised $50,000 for a judicial review of the decision by the council agency Auckland Live to bar the Canadians from using its venues.
The quote highlighted in The Guardian tells us which side Barry Humphries, the Aussie-born creator of Dame Edna Everage and Sir Les Patterson, would support: Continue reading “An Aussie upholds the right to give deep and profound offence…”
Nurses aren’t greedy and they are undervalued in modern society. So why doesn’t the government meet their demands and avert the kind of industrial action the nursing profession has been undertaking? Surely the country can afford it?
The economy is doing very well, or so the government says. The acting Prime Minister, Winston Peters, cites the sharemarket hitting new peaks and Finance Minister Grant Robertson month by month points to the substantial surpluses being recorded in the government’s books as evidence the economy is sound and growing.
So where’s the problem? Continue reading “Why striking nurses expect more from Labour Ministers”
While the Australians are counting the blessings that come from country-of-origin food labelling, similar legislation in this country is to be the subject of further submissions.
Parliament’s Primary Production Committee yesterday published its interim report on the Consumers’ Right to Know (Country of Origin of Food) Bill. The report was presented to provide an update on the proposed recommendations for amendment to the bill and seek feedback from submitters on the changes.
The purpose of the Bill, when introduced, was to provide a mandatory labelling system that provides consumers with accurate information about the country of origin of ‘single component’ foods to enable them to make informed food purchasing decisions. Continue reading “Feedback is sought on revised Bill on country-of-origin food labelling”