Coronavirus
Business-related coverage of the coronavirus outbreak and how it affects New Zealand.
Infrastructure
Fletcher asks staff to take up to a 70% wage cut
Fletcher Building is asking staff in New Zealand who aren't working through the nation's shutdown to take a progressive paycut over the next 12 weeks starting at 20 percent for the first four weeks and reaching 70 percent for the final three weeks. Senior executives who will w...
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Primary Sector
Tissue maker confident of fibre supply amid forestry lockdown
Tissue maker Asaleo Care said it has put on additional production shifts to ensure ongoing supplies of toilet paper and other products as the national lockdown halts forestry harvesting.The company’s brands include Purex, Libra, Handee and Treasures. Its mill at Kawerau is the co...
Services
Publisher of Listener, NZ Woman’s Weekly shuts up shop
Bauer Media Group, which publishes long-standing magazines such as the Listener and NZ Woman’s Weekly, has shut its local publishing business as the collapse in advertising and lockdown suspension meant it’s no longer viable.The magazine publisher has appointed EY to help with an...
Finance
Banks to cease paying dividends, share buybacks - RBNZ
The Reserve Bank has agreed with the banks that they won't be paying dividends through the coronavirus crisis or redeeming any type of quasi equity and has included these prohibitions in the banks' certificates of registration."This initiative further supports the stability of th...
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