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Coronavirus

Business-related coverage of the coronavirus outbreak and how it affects New Zealand.

Covid-19 back in focus as global concerns escalate
Rebecca Howard | Fri, 06 Mar 2020

Covid-19 is back in focus and the local equity market may follow a tumble on Wall Street after California declared a state of emergency to combat the virus. “This emergency proclamation will help the state further prepare our communities and our health care system in the event...

Markets may lift as attention shifts to US politics from virus
Rebecca Howard | Thu, 05 Mar 2020

Markets may fare better after Wall Street got an overnight lift when Joe Biden overtook Bernie Sanders to be the new front-runner for the Democratic presidential nomination. “In an otherwise gloomy week for US equities, the resurgence of Joe Biden in the race for the Democrati...

Moa says earnings will still be positive despite downgrade
Jenny Ruth | Tue, 03 Mar 2020

Beer and cider maker Moa Group has downgraded its forecast annual operating profit although it still expects to post its first ever positive earnings before interest, tax, depreciation and amortisation result, thanks to its newly acquired hospitality venues. Now, the company e...

Prospective rate cuts seen as panacea for market turmoil
Rebecca Howard | Tue, 03 Mar 2020

The local stock market may take Wall Street's upbeat lead as investors hope that a coordinated response by the world's biggest central banks, led by the Federal Reserve, will help mitigate the economic impact of the coronavirus.“Risk assets partially rebounded from recent carnage...

Covid-19 to dominate; markets gear up for rate cuts
Rebecca Howard | Mon, 02 Mar 2020

Markets continue to be roiled by the global spread of covid-19 and most are now bracing for further rate cuts.“Equity markets continued their aggressive sell off, though buyers emerged into the US close on hopes of a Fed lifeboat. The market is now pricing in a 25 basis-point cut...

Govt dashes hopes for Chinese student travel exemption
Pattrick Smellie | Fri, 28 Feb 2020

The government has dashed universities' hopes of a temporary exemption for around 6,000 Chinese students who have been unable to start their studies in New Zealand because of the ban imposed on travel from China following the coronavirus outbreak.Universities New Zealand had lobb...

Tourism Holdings profit falls 25%, reiterates annual guidance
Jenny Ruth | Fri, 28 Feb 2020

Tourism Holdings' first-half net profit fell 25 percent and it reiterated guidance for the full year, despite the developing coronavirus crisis.The campervan and tourism attractions company reported a net profit of $13.1 million for the six months ended December, down from $17.5...

Vista pauses China purchase as virus shuts cinemas
Jenny Ruth | Thu, 27 Feb 2020

Vista Group International has "paused" the planned purchase of an additional stake in Vista China until the impact of the coronavirus crisis becomes clearer.The cinema software company announced the freeze on the deal at the same time as announcing its annual net profit fell 1.5...


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