NZ dollar falls as Fonterra cuts forecast payout, risk sentiment dims
By Paul McBeth March 8 (BusinessDesk) - The New Zealand dollar fell after Fonterra Cooperative Group cut its forecast payout to dairy farmers citing global oversupply, and as other commodity prices and equity markets dropped on waning appetite for risk-sensitive assets. Th...
Genesis Energy to raise up to $100 mln in six-year bonds
By Paul McBeth March 8 (BusinessDesk) - Genesis Energy is looking to raise up to $100 million in six-year bonds at half the cost it's been paying on a note that matures next week. The Auckland-based electricity generator-retailer will sell $75 million of debt to institutio...
Trustpower test case on tax deductions for project costs reaches Supreme Court
By Paul McBeth March 8 (BusinessDesk) - Trustpower opened its challenge to a judgment against its claim $for 17.7 million of tax deductions on project costs between 2006 and 2008 in the Supreme Court today, in a case being closely watched by other large-scale infrastructure de...
Japan's Maruha Nichiro buys minority stake in Sanford at 7.6% discount
By Paul McBeth March 8 (BusinessDesk) - Japanese food group Maruha Nichiro Corp has bought a 4.7 percent stake in local fishing company Sanford at a 7.6 percent discount in an off-market transaction with interests associated with Goodfellow family. On March 4, Avalon Invest...
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