17 Apr 2019

Today's business news: What you need to know

4:17 pm on 17 April 2019

Latest - Beer brewer Moa is rejigging its leadership after moving into the hospitality space with the purchase of the Savor Group's collection of bars and restaurants in Auckland.

Savor's founder and current chief executive Lucien Law will head up the new hospitality business as managing director, while his business partner Paul Robinson will share in the hospitality work and look after new ventures.

Moa's chief operating officer Malcolm Bloor is heading out the door after turning down a role in the new business, as is global sales director Gareth Hughes.

Stephen Smith, Moa's current head of strategy and marketing, will take over as chief executive of the brewing business.

Butter prices surging up

Wholesale butter prices have jumped 42 percent this year, with the tenth consecutive price gain in last night's global dairy trade auction.

ASB Bank senior rural economist, Nathan Penny, said butter prices are another indicator of the tightness in global dairy markets.

NZ food and beverage exporters partner with Alibaba

The food co-operative Alliance Group said 17 food and beverage exporters and brands have launched New Zealand Food Basket in partnership with e-commerce giant Alibaba.

Alliance said a select basket of premium products including lamb, beef and venison will be available on Alibaba's first Country Pavilion flagship store on the Tmall Fresh e-commerce platform.

The company said the products will be marketed to affluent Chinese consumers.