Following the reports that New Zealand’s dairy group, Fonterra, has scrapped bonuses and frozen the pay of about 7,000 employees, as it set to report its worst annual loss next week, the dairy giant confirmed on Friday that it expects an FY 2019 loss and defers the annual results reporting date. Key Quotes: “We are changing our annual results date. It will now be no later than 30 September and we will confirm the new date ASAP. Nothing unusual has led to this change of date, but the normal auditing process is taking longer than expected. Fonterra confirms its previous announcement that it expects a reported loss of $590-$675 million for FY19, which is a 37 to 42 cent loss per share.” The Kiwi is on the front foot so far this Friday, looking to regain the 0.64 handle amid US-China trade progress and risk-on market profile. Hence, the bulls look unfazed by the Fonterra news. At the press time, the spot rises +0.16% to near 0.6380 region, having hit weekly highs at 0.6397 on Thursday. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NEO market update: NEO/USD breakout targets $10 resistance FX Street 4 years Following the reports that New Zealand's dairy group, Fonterra, has scrapped bonuses and frozen the pay of about 7,000 employees, as it set to report its worst annual loss next week, the dairy giant confirmed on Friday that it expects an FY 2019 loss and defers the annual results reporting date. Key Quotes: "We are changing our annual results date. It will now be no later than 30 September and we will confirm the new date ASAP. Nothing unusual has led to this change of date, but the normal auditing process is taking longer than expected. Fonterra confirms its previous… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
