50 eateries closed, 1000 out of work in New Zealand | NZ Market Update

As per the Stats NZ, New Zealanders are spending comparatively more on takeaways and restaurants meals than on fruit and vegetables, when compared with three years ago. Stats NZ calculates about food preferences in every three years, and these changes reflect in the monthly food inflation measure. The calculations suggest that about 27 per cent of the food budget is spent on ready to eat meals that include items like burgers and takeaway coffee. This has increased slightly from 2017 where it was about 26 per cent.

For the full year ended 30 June 2020, Telstra Corporation Limited (NZX:TLS) reported total income of $26.2 billion, down by 5.9 per cent and NPAT of $1.8 billion, down by 14.4 per cent. Reported EBITDA stood at $8.9 billion and after adjusting for lease accounting on a like-for-like basis, EBITDA decreased by 0.3 per cent to $8.4 billion. Overall mobile revenue declined by $461 million in FY20; Reported post-paid handheld ARPU declined by 8.2% or 6.8% excluding the impact of COVID-19 on international roaming.

Auckland went into level 3 lockdown on Wednesday after the discovery of four confirmed Covid-19 cases in the community. On Thursday morning, Director-General of Health Ashley Bloomfield said there was an additional positive case among their close contacts. The Restaurant Association chief executive Marisa Bidois said, while Auckland cafés and restaurants had some good weeks of trading in level 1, they were not enough to cushion the blow if restrictions reverted to level 4. She said the industry was lobbying for an extension of the wage subsidy, which was ending on September 1, and more targetted financial relief. Bidois said, of the association’s members, 50 businesses had shut up shop, leaving about 1000 people unemployed.

#NZX #TLS #Auckland #Kalkine

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