Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra is disputing claims made in the April 10 issue of Dairy News that its plans to turn around the co-op’s disastrous investment in Chinese baby food company Beingmate will be hampered by the return of the company’s founder.
In the article headed: ‘Chinese whispers in Beingmate boardroom’ Dairy News reported that Beingmate founder and cornerstone shareholder Sam Xie had decided, last month, to take over as chief executive of the company and his return – after a seven-year hiatus – is triggering a power struggle and rocking the board.
The article pointed out the relationship between Xie and Fonterra chief executive Theo Spierings remains frayed, hindering the two stakeholders in their efforts to plan amicably to salvage the company.
However, a Fonterra spokesman says Xie is not the chief executive of Beingmate Baby and Food so the observations about the impact this will have on Fonterra are completely without basis.
He says, in fact, that Xie has come back as chief executive of the parent company Beingmate and not Being Baby and Food – which is “an entirely separate company”.
“As such, the comments about Sam being back at the helm – and Fonterra struggling to have influence, or turn around the business as a result – are simply incorrect,” Fonterra claims.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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