Business
Infrastructure
Development of OMV discovery could deliver $1b-plus to Crown
Development of an oil and gas discovery off the Taranaki coast has the potential to deliver the government more than $1 billion in royalties and taxes and could help secure long-term energy supply if there is sufficient gas to warrant piping it ashore.Energy consultancy Enerlytic...
Retail
Burger King operator in receivership, blames coronavirus
The New Zealand operators of Burger King are putting the business up for sale, citing the “significant impact” of the covid-19 lockdown on the fast-food business. Korda Mentha’s Brendon Gibson and Grant Graham were today appointed receivers for Tango Finance, Tango New Zealand an...
Services
NZME layoffs, cost-cutting won’t plug ad revenue hole
NZME has laid off 200 staff and asked the rest of its workforce to take a three-month pay cut as it looks for additional savings to plug the gap left by a slump in advertising revenue.The publisher of the New Zealand Herald newspaper and owner of The Radio Network expects this mo...
Finance
Appetite for business, mortgage holiday schemes fades
Many firms aren't making use of the business finance guarantee scheme once they realise the government's guarantee of 80 percent of the loan is given to the bank, not the borrower, who still has the same obligation to repay.Similarly, individuals interested in taking mort...
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