Business & People
Appointments, results, deals and the people leading the industry.
ANCAP Safety appoints Cornish as new board chair
ANCAP Safety has announced the appointment of Andy Cornish as its new board chair. Cornish has been an independent director since 2017 and takes up the…
Air NZ to lose $5b and at least 3500 jobs
Air New Zealand boss Greg Foran says the airline is doing all it can to keep critical supply lines open during these “unprecedented times”. The company…
Volkswagen Transporter celebrates 70th Birthday
The Volkswagen Transporter has celebrated its 70th birthday, making it the world's longest production run for a commercial vehicle. Also known as the Bulli, Kombi, VW…
GPC announces 2019 supplier of the year award
Australasian automotive aftermarket supplier GPC has announced Brown and Watson International and Griffiths Equipment Limited (NZ distributor of Narva and Projecta products) as its 2019 supplier…
Reserve Bank commences $30 billion buy-up
The Reserve Bank has today pulled out one of the biggest tools in its arsenal to boost the economy - quantitive easing. The 'Large Scale Asset…
Govt helps redeploy forestry workers with $100m
The Government is allocating $100 million to help redeploy workers, including those hardest hit in the forestry industry, throughout the Gisborne-Tairāwhiti region. Economic development minister Phil…
Recession ‘could be deep’, report says
New Zealand is at the beginning of a “significant economic downturn” and the coming recession “could be deep”, ANZ’s economic outlook report says. The report, written…
Patchell Group lays off 24 staff amid downturn
New Zealand trailer manufacturer Patchell Group has announced 24 job losses as a result of the economic situation brought about by the coronavirus pandemic. “Our principal…
Covid-19: THL suspends full-year earnings guidance
Tourism Holdings Limited (THL) has suspended its FY20 earnings guidance in response to economic “uncertainties” resulting from the Covid-19 pandemic. The company had previously maintained its…
US cuts interest rates to zero
The U.S Federal Reserve yesterday cut its target interest rate to zero percent to support the economy following the outbreak of the Covid-19 pandemic, which it…