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04:46 JBWere's Bernard Doyle on NZ's productivity recession, population growth driving economic growth & advice for NZ sharemarket investors to reduce their holdings

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  • Scoop Business » NZ 2Q current account gap narrower than expected

    20 September 2017 12:20 AM

    Sept. 20 (BusinessDesk) – New Zealand reported a narrower-than-expected current account deficit in the second quarter as the services balance slid, while the annual deficit continued to widen. The deficit was $618 million in the three months to June 30 versus a revised first-quarter surplus of $221 million, Statistics New Zealand said. The annual deficit

  • New Zealand jet fuel rationing to run for days; disrupts air travel

    20 September 2017 12:06 AM

    WELLINGTON (Reuters) - A jet fuel shortage debacle disrupting thousands of travellers in New Zealand's largest city, Auckland, would likely last for eight more days, an oil industry spokesman said on Wednesday (Sep 20). The shortage has caused widespread disruption to air travel since the weekend, and comes only days before Saturday's national election

  • Pipelines And The Benefits Of Hindsight Vision

    19 September 2017 10:46 PM

    INSIGHTS ABOUT THE NEWS - The reaction to the breach of the Marsden Point refinery pipeline to Auckland is confirmation of the adage about “hindsight always being 20/20.” Various political parties and businesses seem to believe they have all been pointing to pipeline vulnerability for years and how they have always known the answer. ACT even blamed the RMA. NZ First

  • Auckland Fuel Crisis Day 7: What you need to know

    19 September 2017 8:05 PM

    Almost a week after the pipeline between Marsden Point refinery and petrol company-owned Wiri storage depot failed, Refining NZ says it has reached a watershed moment in its repairs. In its latest update, the company says, “The positive news is that the engineering team is getting on with the repair of the pipe, having completed the first of four major

  • NZ's fuel crisis hits flights, petrol stations

    19 September 2017 8:05 PM 2

    Shortage arising from damaged pipeline disrupts air travel, halts sale of high-octane petrol WELLINGTON • New Zealand's jet fuel shortage forced 39 flights to be cancelled yesterday, 13 of them international, with concerns the crisis might spread after fuel stations in the country's largest city, Auckland, halted high-octane petrol sales. The fuel shortage

  • Fuel crisis taking toll on airport staff

    19 September 2017 5:44 PM 5

    Around six-thousand more will be inconvenienced by unexpected schedule changes. E tu union aviation spokesman Kelvin Ellis said tensions at the airport are high. "Our big concern is really at the moment for our airport staff who are on the front line dealing with irate customers who's travel plans have been thrown into chaos." Ellis said irate customers

  • Air NZ restricts ticket sales as Auckland fuel shortage bites

    19 September 2017 7:38 AM 4

    Air New Zealand is restricting ticket sales and will cancel some international flights as it deals with the shortage of jet fuel at Auckland International Airport. The national carrier will cancel five Australian services, two Fiji services and a return service to Vietnam tomorrow, taking total cancellations to date to 26 domestic flights, 11 trans-Tasman

  • New Zealand officials cancel flights due to fuel shortage

    19 September 2017 7:38 AM 3

    New Zealand officials cancel flights due to fuel shortage New Zealand's lawmakers and public employees were told Tuesday to cancel all nonessential flights to and from Auckland as a fuel shortage at the nation's largest airport continued to disrupt the travel plans of thousands of people. The main pipeline that carries jet fuel to Auckland Airport ruptured

  • Fuel shortage hits more flights, petrol stations

    19 September 2017 6:00 AM 3

    A major pipeline in the North Island between the Marsden Point refinery and petrol company-owned Wiri storage depot failed last Thursday, disrupting fuel supply to the country's biggest city and forcing airlines to ration flights in an effort to conserve fuel. The rupture is believed to have been caused by a digger working some months ago in farmland

  • Air New Zealand restricting ticket sales

    19 September 2017 5:30 AM 4

    Air New Zealand says it is taking the "unusual step" of restricting ticket sales as the jet fuel shortage continues to bite. The move includes stopping all sales on some selected international services. The airline said it has made the move to help accommodate passengers who have already booked flights that have now been cancelled. The company is continuing