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Services
Sports feeling the pinch as TV, gambling revenues dry up
The country’s sporting organisations may need a helping hand to get them through the covid-19 outbreak as suspended competitions halt not only broadcasting revenues, but also their share of betting income. While suspended television rights have dominated the headlines with mar...
Markets
MARKET CLOSE: New Zealand shares joins Asia rally; Air NZ plummets
New Zealand shares joined a rally across Asia, clawing back some of the week’s losses, despite Air New Zealand tumbling by a third after coming off a trading halt.The S&P/NZX50 rose 87.91 points, or 1 percent, to 9,201.64. Within the index, 27 stocks rose, 20 fell and 3 were unch...
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Air NZ bailout too small; value slashed by $550m
Air New Zealand shares sank by more than a third as investors judged the government’s $900 million bailout to be too small. The airline’s chief executive said $900 million was exactly the amount he asked for. Finance Minister Grant Robertson today said the government loan would k...
Infrastructure
NZOG readies war chest for opportunities
New Zealand Oil & Gas said it is ready to pursue opportunities that the current market turmoil may provide.The firm, which started the year with $105 million of cash on its books, said that is held in a mix of US and New Zealand dollars with large, AA- rated banks.“Although it is...
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