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Fonterra sells Australian yoghurt, dessert business after $108 mln writedown
By Paul McBeth Dec. 16 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has sold its Australian yoghurt and dairy dessert business to Parmalat Australia for an undisclosed sum, having written it down by $108 million in the 2015 financial year. ...
NZ’s annual current account gap narrows to 3.3% of GDP on tourist influx
By Jonathan Underhill Dec. 16 (BusinessDesk) - New Zealand’s annual current account deficit narrowed in the third quarter as an influx of big-spending tourists made up for the impact of weaker dairy export prices. The current account gap was $8.1 billion, or 3.3 percent of...
CORRECT: Flick Electric raises $5 mln new capital, adds Eastland as cornerstone investor
(Fixes Evander shareholding in 4th graph, names institutions in last graph) By Pattrick Smellie Dec. 15 (BusinessDesk) - Wellington-based online electricity retailer, Flick Electric, has raised $5 million in its second capital-raising in two years, adding the Gisborne-based...
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