New Zealand’s largest company has warned it will lose as much as $675m this year. What has happened in dairying and are we doomed? What has Fonterra said? Fonterra Co-operative Group has given farmers and the markets an update on its financial situation. It says it will make a whopping loss for the year of … Read more
Good morning, and welcome to The Bulletin. In today’s edition: Waka jumping bill could become law tonight, internal report into Meka Whaitiri’s conduct leaked, and sports doping testing system under scrutiny. The Electoral Integrity amendment bill is making its way through Parliament, and could well become law tonight. Commonly known as the waka-jumping bill, it would mean … Read more
Fonterra rejects claims by Chinese media that formula maker Beingmate reportedly failed to check additives came from licensed suppliers. Chinese media have reported that Fonterra’s troubled investment Beingmate failed to check additives in its infant formula came from licensed suppliers, and the additives were certified for use. On Friday 15 June, Chinese authorities announced the … Read more
Rebecca Stevenson takes a look back at the tenure of ‘Mr Milk’, Theo Spierings, atop our biggest company. It’s our biggest business (yet it’s a co-operative) and its chief executive Theo Spierings also earns the highest salary in New Zealand – a lottery dream of a wage packet of about $8.3 million a year, or … Read more