Air NZ issues profit warning
Audio, Radio New Zealand
Surging oil prices and the impact of devastating earthquakes in Christchurch and Japan have prompted Air Zealand to issue a profit warning.
Surging oil prices and the impact of devastating earthquakes in Christchurch and Japan have prompted Air Zealand to issue a profit warning.
Tourism is in for a short, sharp shock as fewer people visit New Zealand after the earthquakes in Japan and Christchurch and Genesis Energy says customers have no one to blame but themselves when electricity prices spiked last Saturday.
The Christchurch-based insurer, AMI, says it won't be until June next year before it knows the final cost of earthquake claims, though the company's confident it won't need to draw on the government's backstop support package.
The insurance arms of Suncorp New Zealand have reported lower profits off the back of the Kaikoura earthquake and a rise in Canterbury earthquake claims. .
The insurance company, Tower, is confident that putting its costly and complex outstanding Canterbury earthquake claims into a separate company will allow the rest of the group to flourish.
The insurance company, Tower, has strongly criticised the time it's taking to settle Canterbury earthquake claims and says the insurance system for handling such disasters is broken.
Canterbury retail spending surges following earthquake disruptions. Traders face potential prison terms in Britain's rate-rigging scandal and the sharemarket falls half a percent.
Shares in the insurance company, Tower, have plunged close to 20 percent today after it said its profits will likely fall more than 16-million dollars because of Canterbury earthquake claims.
Divine Cakes in Christchurch has had a tough past five years building up again after the 2011 earthquakes.
The cost of building a home in New Zealand's main cities has risen by 20 per cent since the Canterbury earthquakes.
Listed general insurance company Tower has reported a bigger first half loss on lingering Canterbury earthquake claims and a write down in its computer systrems.
Lyttelton Port is applauding a government decision to use the Canterbury Earthquake Recovery Act to speed up the redevelopment of the badly damaged port.
Insurance company, Tower, says it's started the year on a positive note despite bad weather and lingering complex claims from the Christchurch earthquakes.
New research suggests about half the Christchurch businesses which left the central city after the Canterbury earthquakes are unlikely to return.
Wellington businesses are being encouraged to work with their counterparts in Christchurch to help with post-earthquake rebuild projects.
The Government has announced a 120-million dollar finance package to help workers and businesses hit by last week's Christchurch earthquake.
Big businesses are getting the thumbs up for the way they've looked after their workers after the Christchurch earthquake.
Businesses struggling after the Canterbury earthquake are vowing to keep up the pressure on the Government for more assistance.
Business owners in the earthquake-stricken Christchurch suburb of Sydenham hope some of their many problems will be resolved tomorrow.
Christchurch businesses are calling on the council to keep the New Brighton pier open while earthquake repairs are completed.
Economists and business leaders predict the Canterbury earthquake will lead to a rash of business failures and cut economic growth this year.
Farmers and rural businesses have been combining their efforts to bring desperately needed fresh water supplies to earthquake shattered Christchurch.
The creation of a new unit within the Canterbury Earthquake Recovery Authority to oversee the rebuilding of central Christchurch is being welcomed by business leaders.
A new centre being set up to help Canterbury businesses struggling after the recent earthquakes says it's getting ready to open its doors and is calling for applications from interested companies.
Christchurch airport's annual profit has fallen 6 per cent after losing nearly half a million passengers following the earthquakes.
The Bank of New Zealand has set aside 60 million dollars for potential credit losses from the earthquakes in Christchurch.
Many small businesses in Canterbury are struggling to stay afloat after the earthquake and an insurance and risk management consultant, John Sloan, says one problem is the long wait to get insurance money.
There are fears more than a hundred businesses, particulary in the retailing and restaurant sectors, will have to close their doors as a result of the physical and economic damage caused by the earthquake.
Business owners have told the Christchurch City Council they are haemorrhaging thousands of dollars a week, while it decides whether or not to demolish their buildings following last month's earthquake.
Two and a half years after some of the most badly earthquake damaged parts of Christchurch started getting cleared of residential homes, half a dozen businesses are still trying to make a go in the areas.