Midday Report for Monday 12 August 2019

12:35 PM.As you will have heard earlier in the hour, Fonterra is forecasting a loss of 590 to 675 million dollars for its latest full year. Audio

12:26 PM.All Blacks lock Scott Barrett is still waiting to see what punishment he'll cop for his red card against the Wallabies. Audio

12:25 PM.The Financial Markets Authority has moved to liquidate two businesses owned by a financial adviser under investigation by the Serious Fraud Office. Audio

12:23 PM.For the latest from the markets we're joined by Melika King of Craigs Investment Partners. Audio

12:21 PM.The tourism and campervan company, Tourism Holdings, says a tax adjustment will push its full year net profit above the top end of its guidance range Audio

12:18 PM.The country's biggest power company, Contact Energy, has more than doubled its net profit for the year after some cost cutting and the shedding two of its businesses. Audio

12:17 PM.Fonterra's on track for another big loss and now admits it's going to miss its 800 million dollar debt reduction target. Audio

12:00 PM.Dairy giant Fonterra reveals it expects to lose hundreds of millions of dollars. The clean-up begins after tornadoes hit Auckland and New Plymouth. Audio