Warehouse to cut nine stores, up to a 1,000 roles
The Warehouse Group plans to cut nine stores and as many as a thousand employees as it responds to the economic impacts of covid-19.The group said it is looking to close six stores, in addition to three already announced, as part of a proposal to shift the business to an 'agi...
MARKET CLOSE: NZ shares fall as kiwi dollar weighs on offshore earners
New Zealand shares fell as the strengthening kiwi dollar weighed on firms exposed to overseas earnings. Gentrack led the market lower. The S&P/NZX 50 Index declined 51.14 points, or 0.5 percent, to 11,171.80. Within the index, 29 stocks rose, 18 fell, and three were unchanged....
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...
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...
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