Midday Business News for 5 October 2012
Audio, Radio New Zealand
Christchurch's first office and retail development since the earthquake gets the go ahead.
Christchurch's first office and retail development since the earthquake gets the go ahead.
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.
A study by Canterbury University shows businesses have withstood the 7-point-one-magnitude Canterbury earthquake well.
The historic Townsend Teece telescope in Otautahi Christchurch was badly damaged in the 2011 earthquake, but has been expertly restored and is now reinstalled back in its central city home at the Arts Centre.
A business owner wants more stringent background checks for people creating professional online profiles after discovering a potential business advisor is currently on home detention for corruption. Gerard Gallagher was convicted in June after trying to personally profit from information obtained while working for the Canterbury Earthquake Recovery Authority and Ōtākaro Limited between 2014 and 2017. Online, he promotes himself as a Business Advisor despite still serving a sentence of 12 months' home detention. Niva Chittock reports.
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.
Kaikoura and Wellington businesses operating adjacent to quake damaged buildings may face disruption for years to come as owners drag their feet on repair or demolition work. A Christchurch property owner has been unable to completely re-open for business since the February 2011 earthquake.
Consumer confidence has stabilised after falling to a two year low in March, following the Christchurch earthquake.
Some Christchurch businesses are accusing the government of winding down its earthquake assistance programme too soon.
Economists and business leaders predict the Canterbury earthquake will lead to a rash of business failures and cut economic growth this year.
Wellington businesses are being encouraged to work with their counterparts in Christchurch to help with post-earthquake rebuild projects.
A group of small business owners in earthquake stricken Canterbury say they need a one hundred million dollar cash injection if they are to make it into the New Year.
The Canterbury electricity lines company, Orion, says electricity use in its region is starting to recover following the earthquakes, helping it lift both annual profit and sales 3 percent.
Economic activity in Canterbury reached its fastest pace in July since the 2010/2011 earthquakes.
Insurance company Tower says yesterday's earthquake in North Canterbury will cost it a maximum of just over seven million dollars.
Tower's profit is expected to be hit by the Christchurch earthquakes. Movie star legend Bruce Willis is reportedly eyeing up legal action against Apple and the stockmarket rises.
Tower's half year profit has jumped by more than eighty percent, as it recovers from the costs associated with the Canterbury earthquakes and improves revenue growth.
Surging oil prices and the impact of devastating earthquakes in Christchurch and Japan have prompted Air Zealand to issue a profit warning.
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.
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.
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.
Farmers and rural businesses have been combining their efforts to bring desperately needed fresh water supplies to earthquake shattered Christchurch.
The Canterbury Employers' Chamber of Commerce estimates up to 150 of the region's small businesses will fold if they're not given Government assistance to relocate from their earthquake-stricken premises.