Author: Press Room

By Anan Zaki of RNZ Spark has lost $1 billion in market value as investors punished the company for its poor results. Its share price closed down 19 percent to $2.38, valuing the company at $4.39b, down from $5.4b at market open on Friday. Spark’s half-year profit fell more than three-quarters to $35 million, with revenue easing to $1.9b on the back of weaker mobile, IT and landline services. Excluding one-offs, the company’s underlying profit was 15 percent below analyst estimates, and operating expenses were higher than expected. Spark also further downgraded its full-year earnings forecast range from $1.12b – $1.18b to $1.04b -…

New Zealand aims to raise $137 million to eradicate pests and restore ecosystems on three of our largest islands, as part of a new partnership with overseas conservation charities.The Department of Conservation and partners are joining Island-Ocean Connection Challenge (IOCC) in a bid to rewild Rakiura-Stewart Island, the Chatham Islands and the subantarctic Auckland Island.The projects were estimated to cost $202 million total, but the government had already invested $54 million and more than $11 million had been donated.Islands could become home to a massive pest eradication and ecosystem restoration project, thanks to partnership project with overseas charities. (Source: 1News)DOC…

A motorcyclist has been critically injured after serious crash closed part of State Highway 73 in Christchurch this morning. In a statement, a police spokesperson said Curletts Rd (State Highway 73) was blocked at the intersection of Lunns Rd, following the crash involving a car and a motorbike shortly before 6am.Police said the serious crash unit was attending.St John said one ambulance and three rapid response units attended the incident.”One patient was transported to Christchurch Hospital in a critical condition,” a spokesperson said.State Highway 73 is closed at the intersection of Lunns Road to southbound traffic (Source: NZ Transport)Motorists were…

Sky TV’s summer satellite issues have led to it taking a financial hit as it announced its half-year results.The broadcaster has suffered a 106% decrease in net profit, registering a $1.75 million loss.It says its satellite migration project and prolonged economic headwinds had contributed to the half-year result.Chief executive Sophie Moloney said it had been a difficult half year, “due to both the interruptions flowing from Project Migrate and the ongoing economic pressures facing businesses and consumers”.”While there are some one-off factors impacting our results, the fundamentals of our strategy and progress against our priorities remain a cause for optimism.”In…

Top German politicians and chancellor candidates faced off one last time in a debate on local broadcaster ZDF ahead of Sunday’s federal elections. The war in Ukraine dominated an agenda packed with contentious topics which included immigration and the economy. ADVERTISEMENTThe debate got off to a quick start with moderators centring the conversation on the threat of war and continental security.A recent survey revealed that 45% of Germans considered peace and security to be the most important issue for them and how they vote.German Foreign Minister Annalena Baerbock – who’s the co-chair of the Greens party – says the threat…

A man has been sentenced for his part in a massive 700kg liquid meth importation concealed in beer and kombucha bottles.The man, who has permanent name suppression, will serve 22 years in prison with a minimum period of imprisonment of 10 years. The case involved the largest importation of meth to make it across the New Zealand border and come before the courts.The unnamed man’s co-accused Himatjit Kahlon was found guilty last year of the manslaughter of 21-year-old Aiden Sagala, who died after innocently drinking a Honey Bear-branded beer can which instead contained liquid methamphetamine.Sagala was hospitalised after consuming a…

By Susan Edmunds of RNZ Dunedin’s median property price has increased a whopping 500 percent since 2000, the biggest increase of any of New Zealand’s main centres, new data from Corelogic shows. The property research firm has delved into the capital gains experienced by property markets around the country since 2000. Top of the list was Mackenzie District, which had a 1074 percent increase, from a median value of $64,723 in 2000 to $690,578. Invercargill and Central Otago both had increases of 775 percent. Waitaki was next, with 745 percent, to a median of $490,223 and Queenstown Lakes 699 percent…

Four people have been taken to hospital, three of them in a serious condition, following a “chemical incident” onboard a ship at Lyttelton Port this morning.Police confirmed that two people were found unconscious in a tank aboard a ship after emergency services were called at 9.40am.St John said it responded to the “chemical incident” with four ambulances, two rapid response units and two operations managers.”Four patients, three in serious conditions and one in a moderate condition, have been transported by ambulance to Christchurch Hospital,” a St John spokesperson said.Four people have been taken to hospital with three of them in…

In a James Bond shakeup that stirred the film industry, Amazon MGM announced that the studio has taken the creative reins of the 007 franchise after decades of family control. Longtime Bond custodians Michael G. Wilson and Barbara Broccoli said they would be stepping back.Amazon MGM Studios, Wilson and Broccoli formed a new joint venture in which they will co-own James Bond intellectual property rights — but Amazon MGM will have creative control.Financial terms weren’t disclosed. The deal is expected to close sometime this year.”With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the…

A former Colorado sheriff’s deputy was convicted today in the shooting death of a 22-year-old New Zealand-born man in distress who called 911 for help after his car got stuck in a small mountain community.Jurors found Andrew Buen guilty of criminally negligent homicide in the June 2022 death of Christian Glass, whose death drew national attention and led to changes in how officers are trained to respond to people in mental health crises under a $19 million (NZ$32.9 million) settlement with his family.Murder convictions of police officers for actions taken while they were on duty is rare and have happened…