Business
Infrastructure
Air NZ shares rise 8.6% as it targets another $150m of savings
Air New Zealand shares rose 8.6 percent after the airline said it plans to cut its wage bill by another $150 million in its bid for survival. The national carrier had already embarked on plans to cut its workforce by a third in a bid to save between $350 million and $400 milli...
Retail
Free
Rising air freight costs poised to push up retail prices
Kiwi consumers face higher prices for imported goods as the lack of passenger flights in and out of the country has pushed up air freight prices. Parallel importer Mighty Ape has seen the cost of air freight rise three-to-five times what it was before the covid-19 pandemic. An...
Finance
Regulator sues ANZ over credit card insurance
The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those customers no cover. The FMA claims the bank issued duplicate policies to some custo...
Infrastructure
Loss expected from NZ Steel on covid shutdown
BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Pacific Steel business may report an underlying loss of A$5.2 million before interes...
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