Business diary: Friday June 10, 2016

Fonterra shareholders meet in Hamilton at 10am today. Photo:/ Mark Mitchell.
Fonterra shareholders meet in Hamilton at 10am today. Photo:/ Mark Mitchell.

What's happening in the world of business, finance and economics today? We have the latest business, markets, currency and personal finance news, opinion and financial market reports

1. Fonterra
A special meeting is due to be held today. Fonterra shareholders will vote on corporate governance. The meeting at 10am today in Hamilton is on amending the constitution, allowing Fonterra to cut the board to 11 from 13, and introducing a new system to elect farmer directors, according to the notice of meeting. A majority of Fonterra's farmer shareholders supported a proposal from fellow shareholders and former directors Colin Armer and Greg Gent to reduce the board to nine at the annual meeting last October but the vote fell short of the 75 per cent needed, including a requirement for 50 per cent support of the shareholders' council.


2. Spending
At 10.45am, Statistics NZ will release its electronic card transation data for May.

3. Accommodation
Statistics NZ will also release the April accommodation survey, a strong gauge of our tourism industry.

- NZ Herald

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