Author: Press Room
By Susan Edmunds of RNZ Air New Zealand is expecting to make $20 million in six months from travel credits that customers won’t use. The airline told the NZX today it expects its full-year underlying profit to be down as much as a third compared to last year given a “substantial” drop in the compensation it expects to get from engine manufacturers for its grounded aircraft. The national carrier estimates earnings before taxation for the 2025 financial year to be within a range of $150 million to $190m, compared with $222m last year. Air New Zealand said it expected to make $20m…
By Susan Edmunds of RNZ A new home loan rate cut means 4.99 percent is no longer the cheapest available in the market. BNZ on Wednesday cut a number of its fixed rates, including its 18-month rate to 4.95 percent. It is also offering 4.99 percent for one and two years. “We know many of our customers are looking beyond the very short-term fixed rates as the interest rate environment evolves,” BNZ general manager of home lending James Leydon said. “By offering a market-leading 18-month option, we’re giving customers more choice and the ability to lock in a competitive rate…
It’s the middle of the school holidays and Easter is looming but so is bad weather for much of the country. Here’s what you need to know to deal with the wild weather over the next few days.What’s coming our way?A large weather system is forming just west of the country and is expected to bring heavy rain and strong winds to the upper North Island, with damp skies expected for much of the country over the rest of the week.The storm could be classified as a tropical cyclone if it gathers in strength.Strong wind warnings have been issued for…
Department of Conservation rangers say dog poo left behind on Southland’s Foveaux Walkway has reached “obscene” levels and dogs may be excluded unless things improve.The walkway, which is part of the Te Araroa Trail and attracts hundreds of visitors daily, follows the Motupōhue/Bluff coastline to a lookout point.DOC acting Murihiku operations manager Jono Airey said the track was special, “visually stunning” and rich with Māori and European history.”We’re talking about nature and heritage unique to New Zealand, these are things you can’t find anywhere else.”Dogs were allowed on the track, as long as they are on a lead, he said.”Dogs…
The crucial dairy export sector is showing no signs of being affected by the tariff-induced market turmoil. Prices have risen in the latest global auction overnight to their highest level in nearly three years. The average price increased 1.6 percent to $US4385 ($NZ7430) a tonne, the best since July 2022, after rising 1.1 percent rise in the previous auction two weeks ago. NZX dairy analyst Rosalind Crickett said the “dairy bulls” had taken charge of the market and driven buying in an auction that was being closely followed. “Prior bullish sentiment rang true in dairy markets overnight … Upward momentum…
Two new uncrewed vessels have been unveiled in Devonport today, which Customs Minister Casey Costello says will help tackle transnational organised crime.The vessels — named Tahi and Rua — were built in Sydney and purchased by the Defence Force and Customs after a seven-month trial period.Costello said the purchase will enhance New Zealand’s ability to patrol and protect its maritime interests and security, including “stopping drug smuggling”.”Collaboration and joint investments in modern technology like this demonstrate how agencies like Customs and Defence can work together to detect illegal activity and tackle organised crime.Customs Minister Casey Costello. (Source: 1News)”Customs, supported by…
Dunedin’s Regent Theatre has been granted a liquor licence after being grilled for selling “nothing more than snacks” alongside large pours of wine. The theatre’s on-licence was renewed for 18 months by Dunedin’s District Licensing Committee last month, following a hearing in February. It was opposed by Dunedin City Council licencing inspector Alison Blair, who in her report raised concerns about operations without a certified manager and the volume of wine servings. She also questioned the manner in which the theatre sold food. According to a menu, patrons at the Regent Theatre could choose from either a “regular” or “large…
Exporters around the world are still digesting exactly what US President Donald Trump’s moving array of tariffs will mean for them and their businesses.But what are New Zealand’s biggest exports to the US, and how might they be affected?Last year, exports of goods to the US were worth just under $9 billion.That was 12.7% of all goods exported, the second highest. The US has become a much more significant destination for exports in recent years.In the 12 months ended December 2024, these were the most exported goods to the US.1. Meat and ‘edible offal’ — $2.5 billionWestpac chief executive Kelly…
Air New Zealand says its full year underlying profit will be down as much as a third on last year given a “substantial” drop in the compensation it expects to get from engine manufacturers for its grounded aircraft. The national carrier estimates earnings before taxation for the 2025 financial year to be within a range of $150m to $190 million, compared with $222m last year. “The airline is engaged in ongoing negotiations with engine manufacturers regarding appropriate levels of compensation for unserviceable engines, and accurate timeframes for engine returns,” it said in statement to the market. “These discussions continue to…
Even before it got colder, power bills in New Zealand and Australia were going to spike because regulators are increasing charges for the use of pylons, substations, poles and wires. But should they be? By energy economics experts Richard Meade and Magnus SöderbergWinter is coming to New Zealand and Australia, and with it come those inevitably higher power bills from heating our homes.But even without that seasonal spike, household power bills were already set to rise by NZ$10 to $25 a month in New Zealand and up to A$9 a month in parts of Australia.This is not, as some might…