Coronavirus
Business-related coverage of the coronavirus outbreak and how it affects New Zealand.
Coronavirus
Metlifecare and EQT enter new $6 per share takeover agreement
Metlifecare said it has entered into a new scheme of arrangement with Swedish company EQT to buy all its shares for $6 each, a dollar less than the earlier deal EQT had repudiated, but only four of the company's six directors are supporting the offer. The new price values Metl...
Coronavirus
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Aucklanders only: Facebook terms for NZ small business grants
Facebook has announced its small business grants programme, worth US$100 million, will open for New Zealand applications in “the coming months,” but there's a catch - it's only available in or around Auckland. Businesses in other towns and cities, and the two-thirds of the pop...
Coronavirus
NZ banks' credit losses to rise to 12x 2019 level - S&P
New Zealand banks' credit losses will rise to about 12 times those in 2019 before easing because of the coronavirus crisis, according to international ratings agency Standard & Poor's. "A contracting economy, rising unemployment and weak consumer and business sentiment will af...
Coronavirus
Summerset expects 1H underlying profit to be up to 16% lower
Summerset Group said its first-half underlying profit could be up to 16 percent lower on the year before because of the impacts of covid-19, which halted construction as well as property settlements. The retirement village operator and developer said it expects underlying prof...
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