A temporary share trading halt by Fonterra has been followed by an announcement that farmers will be unlikely to get a final dividend payout. Reality is finally biting for the company thanks to fundamental flaws in culture and strategy, says Rod Oram.
Deputy Prime Minister Winston Peters doubled down on last week's New Zealand First party attacks on the performance and leadership of Fonterra, saying the country's largest business was costing the economy more than $2 billion from food safety and animal welfare scares.
Foundations for the Future is the title Finance Minister Grant Robertson has given his first budget.
The 8 things that mattered this week
8 things that mattered this week
In this morning's email we look into how Ardern has attempted to cover the blind spot over Russia opened up by Winston Peters.
In today's email we discussed the evolution of protein sources away from milk and meat, New Zealand's woeful productivity and the delay to replacing our maritime surveillance aircraft.
Rod Oram looks at the challenges for New Zealand's red meat farmers in a world where plant-based meat imitations are already being rolled out through US fast foot chains and lab-grown meat is five to 10 years away from mass production.
In this morning's email we look into the potential costs of Fonterra's Beingmate investment, and of New Zealand's greenhouse gas trajectory.
In this morning's email we led with the news that the forced closure of an Auckland education provider could pose a serious threat to the export education industry.