Sanford calls for greater industry collaboration on fishing, processing to boost profitability
By Fiona Rotherham Dec. 16 (BusinessDesk) - Sanford, New Zealand’s biggest seafood company, is seeking further collaboration with other fishing industry players to help reduce their cost of business. Chairman Paul Norling told shareholders at the company’s annual meeting in...
Online translations firm Straker raises a further $1 million for global acquisitions
By Fiona Rotherham Dec. 16 (BusinessDesk) - Straker Translations, the online translations platform, has raised a further $1 million of equity funding from an existing Hong Kong investor, who paid a 20 percent premium to the last capital raise in September. The new capital c...
Reserve Bank estimates NZ dairy sector may default on 2%-to-14% of loans
By Fiona Rotherham Dec. 15 (BusinessDesk) - The Reserve Bank has estimated the cash-flow shortfall for the average dairy farmer is likely to be more than $1 per kilogram of milk solids this season and that banks could see defaults on between 2 and 14 percent of dairy sector lo...
ComCom argues Fonterra's support loans should be included in milk price calculation
By Fiona Rotherham Dec. 15 (BusinessDesk) - The Commerce Commission has signed off on the way Fonterra Cooperative Group calculates its milk payout this season but warned it will be keeping an eye on issues such as its cost of capital calculation and interest-free support pay...
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