Thursday, June 25

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Beirut airport cancels flights amid fears of Israeli attack
World News

Beirut airport cancels flights amid fears of Israeli attack

A Middle East Airlines plane is seen on the tarmac of Rafik Hariri international airport in the Lebanese capital Beirut, on 10 August, 2022. Photo: AFP / Roy Issa Flights at Beirut airport have been cancelled or delayed with Lebanon's Middle East Airlines (MEA) saying disruptions to its schedule were related to insurance risks, as tensions escalate between Israel and armed political group Hezbollah. Lufthansa on Monday said it had suspended five routes to and from Beirut by the group's carriers Swiss International Air Lines, Eurowings and Lufthansa up to and including 30 July "in an abundance of caution". A rocket strike that killed 12 teenagers and children in the Israeli-occupied Golan Heights on Saturday has added to concerns that Israel and the Iran-backed group could engage in a fu...
Wholesale interest rates ‘collapse’ – here’s what that means for borrowers
Business

Wholesale interest rates ‘collapse’ – here’s what that means for borrowers

(file image) Photo: 123RF Wholesale interest rates have "collapsed" - but retail home loan rates are likely to follow at a slower pace. Kiwibank economists have pointed out that the two-year swap rate hit a low of 4.19 percent last week, the lowest it had traded in just under two years and well below the recent peak of more than 5.2 percent. That is being driven by a market expectation that the Reserve Bank is planning cuts to the official cash rate (OCR) much quickly than it has previously signalled. "Market traders are now pricing 15bps [basis points] of cuts in August," Kiwibank's economists said. "That's a 60 percent chance of a rate cut in just a couple weeks' time. And looking ahead, traders have priced in just over 75bps of cuts by November. That's a whopping three cuts." They sa...
Australian surfer’s leg unable to be reattached after shark attack
World News

Australian surfer’s leg unable to be reattached after shark attack

By Hannah Ritchie, BBC News, Sydney An Instagram post shared by Kai McKenzie (second from left) with friends as he recovers after a shark attack. Photo: Instagram / @kai_mckenzie A surfer whose severed leg washed up on an Australian beach after it was bitten off by a shark has confirmed the limb has not been reattached. Kai McKenzie, was surfing near Port Macquarie in New South Wales (NSW) last Tuesday, when what he describes as "the biggest shark I've ever seen" attacked him. The 23-year-old managed to catch a wave into shore, where he was helped by an bystander who made a makeshift tourniquet to stem the bleeding. His leg washed up a short time later and was put on ice by locals, before being taken to hospital, where a medical team had hoped surgery may save it. But on Monday, almo...
Comvita looks to cut jobs, slash production after lower sales in China
Business

Comvita looks to cut jobs, slash production after lower sales in China

Comvita posted a $16.8 million net loss after tax in its unaudited financial results for the 2024 financial year. Photo: Supplied New Zealand honey company Comvita is looking at cutting jobs and slashing production amid lower sales and weak demand from Chinese consumers. The NZX-listed company posted a $16.8 million net loss after tax in its unaudited financial results for the 2024 financial year on the NZX on Monday morning. The figure was subject to an impairment adjustment, yet to be calculated - which will be advised on by an independent expert engaged by the board. Total revenue was $204m - much lower than previous guidance of $211m to $218m. Chief executive David Banfield said the result was "extremely disappointing" - driven by challenging trading conditions, non-recurring expens...
Why New Zealand needs to prepare now for a future in ‘a world without China’
World News

Why New Zealand needs to prepare now for a future in ‘a world without China’

China is in trouble - and New Zealand should look to Japan for a way out of its reliance on it, a geopolitical expert says. "No one is in a worse position than the Chinese," Peter Zeihan, a top geo-political strategist, says. "According to the data that the Chinese have updated in just the last year... they've got a fertility rate that is one quarter, or below, replacement levels in all of their major cities. "So, we're looking at the demographic collapse of the Chinese state within 10 years, and that assumes nothing else goes wrong - no trade war with the United States, no government breakdown because of the cult of personality that has arisen around chairman Xi [Jinping], no conflict, nothing." Zeihan's dramatic predictions are in the latest episode of RNZ's multimedia programme, 30 with...
World Drowning Prevention Day: Every hour 26 lives lost to drowning worldwide
Health

World Drowning Prevention Day: Every hour 26 lives lost to drowning worldwide

About 236,000 lives every year, which can be 350 per day or 26 every hour, are lost due to drowning worldwide, said Saima Wazed, the World Health Organisation (WHO) Regional Director for South East Asia on Thursday.  July 25 is observed as World Drowning Prevention Day to bring awareness about the leading cause of injury-related death and disability worldwide. The theme this year is ‘Anyone can drown, no one should’. “In 2019, drowning claimed 70,034 lives in the South-East Asia Region, making it the second-highest contributor to drowning deaths worldwide,” said the Regional Director. “Drowning is a sudden and silent killer, often catching victims and those around them unawares until it is too late. A few seconds may not be enough time to respond. The power is in prevention,” she added...
Biden-Trump US presidential debate: What the data shows about who said what
World News

Biden-Trump US presidential debate: What the data shows about who said what

Photo: Composite image: Donald Trump AFP/Mark Peterson. Joe Biden AFP/Mandel Ngan In 2020 an exasperated Joe Biden came out swinging in the first presidential debate, exclaiming to then-president Donald Trump: "Will you shut up, man?" Four years on, he may have wished he said it again. While the interruptions which marked the chaotic first 2020 presidential debate were absent thanks to muting of microphones and talking turns were tightly controlled by CNN moderators Jake Tapper and Dana Bash, fast-talking Trump still dominated 2024's first debate. Read more of RNZ's coverage of the first US presidential debate: Softly-spoken and raspy, the 81-year-old Biden managed to speak just 39 percent of all words said in the 90-minute match-up, while the 78-year-old Trump commanded 48 percent. Wi...
US President Joe Biden: Age and optics just too hard to fight
World News

US President Joe Biden: Age and optics just too hard to fight

US President Joe Biden has dropped out of the presidential race. Photo: AFP / Brendan Smialowski Analysis - US President Joe Biden, who channelled perseverance and grit into a 50-year run in American politics, finally met a foe he could not beat. His opponent in the November presidential election was technically former president Donald Trump, but it was also a much, much harder one to beat - age and perception. The disastrous June debate performance - the worst I have watched in 40 years of viewing these frustrating, fascinating American events - laid bare the harsh reality of age on America's oldest president, and in US politics, image is everything. At 81-years-old - 82 in November - Biden finally recognised today he could not win this one. My own father died in May at 83-years-old, j...
Hospitality sector reports higher sales but rising costs remain a concern
Business

Hospitality sector reports higher sales but rising costs remain a concern

The Southern Lakes, West Coast and Kaikōura had a boost in sales due to international tourists, according to the Restaurant Association's latest report. (file image) Photo: 123rf Overseas visitors are boosting sales in cafes and restaurants in tourist hotspots but that only reflects some of the conditions faced by the hospitality sector. The Restaurant Association's latest report paints a mixed picture for many operators hit hard by difficult trading but catering and takeaways defied the downturn. The industry's annual report showed higher sales of $15.7 billion for the year ended March, but rising costs remained a concern. The annual growth rate of 5.8 percent was mostly offset by high inflation. Here's what it takes to open an eatery in a cost of living crisis Chief executive Marisa ...
Edna O’Brien, Ireland’s daring chronicler of women’s lives, dies at 93
World News

Edna O’Brien, Ireland’s daring chronicler of women’s lives, dies at 93

By Graham Fahy for Reuters Edna O'Brien in 1996. Photo: AFP / Jean-Pierre Couderc Edna O'Brien, the author who wrote of her native Ireland in such febrile prose, steeped in sex, love and religious angst, that it sparked national outrage and led to her self-imposed exile, has died aged 93, her agent said on Sunday. Her 1960 literary debut stirred national contempt in then-staunchly Catholic and conservative Ireland, prompting a priest in her hometown to call for it to be burned. The culture minister of the time branded it "a smear on Irish womanhood". But when a selection of her personal papers was added to Ireland's national library in 2021, Culture Minister Catherine Martin cited O'Brien's unique importance as a novelist and chronicler of a country that had once shunned and reviled...