Business

Air New Zealand will start laying off workers this week and says Covid-19 has slashed its revenue by more than $5 billion. In a message to staff, chief executive Greg Foran said international travel made up two-thirds of the company’s revenue and that was gone now for the foreseeable future. The air

As all non-essential workers head home for a minimum of four weeks to combat COVID-19, the Invercargill CBD development is unlikely to meet its target open date. The organisation behind city block development stage one, Invercargill Central Ltd, planned to complete its stage construction by February

Flight Centre has announced that 250 staff would be made redundant from today, and 33 shop would close temporarily, due to the Covid-19 coronavirus outbreak. In a statement, the travel agency said the unprecedented travel restrictions throughout the world has forced it to reduce its workforce. The c

A new funding and support collective has been launched in Southland and Otago, creating a network for startups and investors to converge. Mainland Angel Investors (MAI) an angel investment network founded by Startup Dunedin, COIN South and Startup Queenstown Lakes, officially launched on Wednesday e

SBS Bank and the Highlanders have announced they’ve entered into a new three-year partnership. Not only has SBS Bank become an official partner of the Highlanders but is now also the Dunedin-based Super Rugby franchise’s official bank. SBS Bank chief executive Shaun Drylie said the new partnership w

Fonterra Co-operative Group Limited (FCG) Chairman John Monaghan has confirmed that he will retire as a Director of the Co-operative when his current 3-year term ends at its Annual Meeting this November. In a note to the Co-operative’s farmer-owners and unitholders, Mr Monaghan explained that his de

Southern Institute of Technology (SIT) are committed to building a pipeline of entrepreneurial-minded young people who will boost the prosperity in New Zealand through sponsorship of The Lion Foundation Young Enterprise Scheme (YES) in Southland. SIT recently signed on to continue their sponsorship

South Port New Zealand Ltd has followed up its excellent 2019 performance with a steady result for the first six months of FY2020 ending 31 December 2019; recording a net profit after tax of $4.6 million consistent with the previous corresponding period in FY2019. Considering recent market condition