Saturday, January 17

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Emmanuel Macron meets French party leaders to try to name a prime minister
World News

Emmanuel Macron meets French party leaders to try to name a prime minister

By Elizabeth Pineau and Ingrid Melander, Reuters Emmanuel Macron called a snap election earlier this year, which delivered a hung parliament. Photo: Nicolas Economou / NurPhoto via AFP French President Emmanuel Macron began meeting party leaders from across France's political spectrum on Friday with the aim, nearly seven weeks after inconclusive parliamentary elections, to finally give the country a new prime minister. Whoever Macron names will face a tough job, with parliamentary approval of the 2025 budget one of many challenges at a time when France is under pressure from the European Commission and bond markets to reduce its deficit. Who will become prime minister - and whether they can get a hung parliament to back any reforms - is still very much an open question, with no sign ...
Channel Infrastructure sees near 50 percent jump in interim profit
Business

Channel Infrastructure sees near 50 percent jump in interim profit

Photo: LDR / Northern Advocate / Michael Cunningham The country's biggest fuel import terminal has seen a near 50 percent jump in interim profit on increased revenue, with the company also announcing a deal to increase jet fuel storage. Key numbers for the six months ended June compared with a year ago: Net profit $16.6m vs $11.4m Revenue $69.8m vs $64.4m Operating earnings $48.1m vs $43.5m Interim dividend 4.4 cents per share vs 4.2 cps Channel Infrastructure, the former Marsden Point refinery, said revenue rose 8 percent, with private storage fees rising by 59 percent. It said private and additional storage contributed $8.1 million and operating costs increased 4 percent with Channel benefiting from a new fixed price electricity contract. Jet fuel demand rose 22 percent and was track...
Study reveals new facts about Ozempic, the viral weight-loss drug
Health

Study reveals new facts about Ozempic, the viral weight-loss drug

Ozempic, the diet pill that took the world by storm has been under the public scanner for long, is found to be more devastating than what was originally speculated.  A study conducted at St. Vincent`s University Hospital (SVUH) in Dublin has challenged the prevailing belief that weight loss medications like Ozempic, Wegovy, or Monjaro primarily work by promoting satiety and reducing food intake. The randomised controlled trial, led by Professor Donal O`Shea of SVUH and the UCD School of Medicine, involved 30 patients and focused on medications based on the hormone Glucagon-like peptide-1 (GLP-1). The findings, published today in the Journal of the Obesity Society, reveal a strong relationship between increased metabolic activity caused by daily GLP-1 treatment and the amount of weight l...
Port of Tauranga net profit down more than $25m on previous year
Business

Port of Tauranga net profit down more than $25m on previous year

Photo: RNZ / Cole Eastham-Farrelly The country's biggest port, Tauranga, has reported a weaker profit as cargo volumes fell but said it's had an improvement in the second half of the year. Key numbers for the 12 months ended June compared with a year ago: Net profit $90.8m vs $117.1m Underlying profit $102.7m vs $117.8m (excludes $11.9m one off tax charge) Revenue $417.4m vs $420.9m Cargo (tonnes): 23.6m vs 24.7m Final dividend 8.7 cents per share vs 8.8 cps The port's result was likened to the previous year's "game of two halves" performance. Chief executive Leonard Sampson said there had been a lot of volatility with the first half of the year with reduced cargo volumes and continued disruption to shipping services. "There was a lot of impact of vessel schedule changes and overstocki...
Australian transgender woman wins landmark case against female-only app
World News

Australian transgender woman wins landmark case against female-only app

Roxanne Tickle's exclusion from female-only app was unlawful, Australia's Federal Court has ruled. (File image) Photo: 123RF By Jamie McKinnell, ABC News The exclusion of a transgender woman from a female-only app constituted unlawful discrimination due to gender identity, according to a landmark Federal Court ruling in Australia. Roxanne Tickle downloaded the Giggle for Girls social networking platform, which was designed to be an "online refuge" for women, in February 2021. Users provided a selfie to be assessed by artificial intelligence software to verify they were a woman. Tickle's photo was accepted, but later that year her account was restricted after a manual override. The court case she initiated is the first to claim discrimination on the basis of gender identity since changes...
Spark reports big drop in profit
Business

Spark reports big drop in profit

Photo: RNZ / Nate McKinnon Telecommunications company Spark has reported a 72 percent drop in full year net profit, with revenue down 14 percent. The company's underlying profit was down a third and fell short of its most recent guidance, despite growth in tech products, data centres, with mobile service revenue surpassing $1 billion for the first time. Key numbers for the year ended June compared with a year ago: Net profit $316m vs $1.14b Underlying profit $1.16b vs $1.72m Revenue $3.86b vs $4.49b Underlying profit margin 30.1 percent vs 38.3 percent Final dividend 27.5 cents a share vs 27 cps Spark's financial results for this financial year are cycling significant revenue and net profit gains declared in FY23 following the TowerCo and Spark Sport transactions. Spark chair Justine ...
Fletcher subsidiary Winstone Wallboards to be charged over customer rebates
Business

Fletcher subsidiary Winstone Wallboards to be charged over customer rebates

The Commerce Commission intends to file legal proceedings against Fletcher Building subsidiary Winstone Wallboards. Photo: RNZ / Alexander Robertson The regulator is prosecuting a Fletcher Building subsidiary over rebates It says now discontinued customer rebates for wall boards were anti-competitive Fletcher Building says IT will "vigourously defend" the case The Commerce Commission intends to file legal proceedings against Fletcher Building subsidiary Winstone Wallboards following an investigation into the use of customer rebates. The commission considered Winstone Wallboards' use of the volume rebates, which were discontinued by the company in 2022, breached the Commerce Act. In a market statement, Fletcher said it would vigorously defend itself against the commission's charges,...
Kamala Harris caps convention with call to end Gaza war, fight tyranny
World News

Kamala Harris caps convention with call to end Gaza war, fight tyranny

By Nandita Bose, Jeff Mason and Doina Chiacu, Reuters Harris accepts party's nomination, assails Donald Trump Candidate confronts Gaza war up front, denounces tyranny Speech caps four-day Democratic National Convention Vice President Kamala Harris formally accepted the Democratic nomination for president on Friday with a rousing call to end the war in Gaza and to fight tyranny around the world, drawing a sharp contrast with Republican Donald Trump. "In the enduring struggle between democracy and tyranny, I know where I stand and I know where the United States belongs," Harris said, accusing Trump of bowing down to dictators. On the final, and most anticipated, night of the four-day Chicago convention, Harris, 59, sought to redefine herself for America as she and Trump, 78, enter the fin...
Have weddings been a victim of the economic downturn?
Business

Have weddings been a victim of the economic downturn?

A mass wedding in Hong Kong. Photo: PETER PARKS/AFP Kylie Springford, owner of Cheers Party Hire in Whangarei, has noticed weddings have become smaller, and less frequent in recent years. "I bought Cheers five weeks before Covid hit. Although the business is doing way better than its previous numbers, definitely the number of weddings we do has decreased and got smaller as well." She said the closure of the Brynderwyn hills, the main route between Northland and Auckland, had been a factor, as had Covid lockdowns and the tougher economic environment. Bookings for the next season were looking better, she said, but weddings did not seem to be getting any bigger. Data from Stats NZ shows that the number of marriages happening has not fully recovered from the Covid hit. The 2022 and 2023 an...
Body of UK tech entrepreneur removed from sunken yacht
World News

Body of UK tech entrepreneur removed from sunken yacht

Italian divers search the wreck of the sunken yacht. Photo: ALBERTO PIZZOLI/AFP By Giselda Vagnoni and Guglielmo Mangiapane, Reuters The body of British tech magnate Mike Lynch was retrieved on Thursday from the wreck of his family yacht that sank this week off the coast of Sicily during a violent storm, a senior Italian official said. Lynch's 18-year-old daughter Hannah is still unaccounted for, interior ministry official Massimo Mariani told Reuters after being briefed by the emergency services. The British-flagged Bayesian, a 56-metre-long superyacht carrying 22 passengers and crew, was anchored off the port of Porticello, near Palermo, when it disappeared beneath the waves in minutes after bad weather struck early Monday. Mike Lynch's body has been retrieved from the yacht owned ...