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 "very confident" with its legal position in the Danone case and has budgeted just $11 million, says Lukas Paravicini, chief financial officer.
The $11 million set aside in the Danone law suit is what it views as its legal obligation in the contract, Paravicini said today at the release of its half-year result.
"We are very confident with our legal position and we will defend that position vigorously and at this stage we do not see the need for any further provisions under the legal contractual obligation."
Danone has previously indicated lost sales from precautionary food safety recall of whey protein concentrate supplied by Fonterra cost the company at least $500 million.
Chief executive Theo Spierings said today Fonterra would be happy to have Danone back as a customer.
"Danone is a very key customer, it is very unfortunate we went through the 'event'. There's two parties involved here – two parties with different opinions."
He says they would be open to a commercial discussion with Danone at all times. "But there is a legal situation ... so we are not going to talk about it here right now," he told a press conference at the Auckland's head office.
But on the commercial side they have an approach of "an open line like any customer", he said.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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