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TVNZ in Auckland. Photo: RNZ/Marika Khabazi TVNZ is planning to scrap its 1News website next year under a proposal to save the struggling state-owned broadcaster's finances. A whole staff meeting was called on Monday to go over the proposal, aiming to find $30 million in savings. The broadcaster earlier this year cut a number of news and current affairs shows, including Fair Go and its midday and late night bulletins. The proposal presented to staff at the meeting included: Closing the 1News website from February next year Outsourcing some content workflows and technology Consolidating business areas "to align with our strategy" Investing more in TVNZ+, its on-demand platform, and establishing a new team Changing roster patterns Changing its youth-oriented platform Re: News to focus "s...

TVNZ in Auckland. Photo: RNZ/Marika Khabazi A whole staff meeting has been called at TVNZ as the broadcaster tries to find $30 million, RNZ understands. The broadcaster earlier this year cut a number of news and current affairs shows as it tries to reduce costs and increase revenues. Sources at TVNZ have confirmed an invite was sent to all staff to a meeting on the proposed structure changes, for between 1pm and 3pm on Monday. "This consultation is focused on how we might achieve our $30m target and deliver our Digital+ strategy. Proposals relating to individual roles are not part of this consultation." "Our priority is to share proposals with our people first. We will not be commenting further at this stage." In a statement, TVNZ says it is entering into consultation on the proposed "s...

Photo: RNZ Reserve Bank super-sized official cash rate (OCR) cut favoured Majority in economists' poll favour bigger cut RBNZ usually favours quarter percentage point moves (25 basis points) At height of Covid pandemic in 2022, RBNZ made eight consecutive outsized OCR rises Retail interest rates have fallen with cuts in mortgage rates A super-sized interest rate cut by the Reserve Bank looks increasingly certain this week as economists and financial markets push for a quicker reduction in borrowing costs. The Reserve Bank started the easing cycle in August with a 25 basis point cut to 5.25 percent, first rate cut in four years, with a signal of further cuts over the next two years. A Reuters poll of 28 economists shows 60 percent expect a 50 basis point cut, while financial markets ar...

Photo: RNZ Reserve Bank super-sized official cash rate (OCR) cut favoured Majority in economists' poll favour bigger cut RBNZ usually favours quarter percentage point moves (25 basis points) At height of Covid pandemic in 2022, RBNZ made eight consecutive outsized OCR rises Retail interest rates have fallen with cuts in mortgage rates A super-sized interest rate cut by the Reserve Bank looks increasingly certain this week as economists and financial markets push for a quicker reduction in borrowing costs. The Reserve Bank started the easing cycle in August with a 25 basis point cut to 5.25 percent, first rate cut in four years, with a signal of further cuts over the next two years. A Reuters poll of 28 economists shows 60 percent expect a 50 basis point cut, while financial markets ar...