A grim warning from New Zealand's largest construction company.

Fletcher Building is reporting a group net-loss-after-tax of $227 million dollars, following a $235 million profit last year.

Its residential building arm has been doing well, but it's had losses from its civil business Higgins and Australian plumbing company, Tradelink.

Milford Asset Management's Sam Trethewey unpacks a tough financial year for the construction sector. 

LISTEN ABOVE

A grim warning from New Zealand's largest construction company.
Fletcher Building is reporting a group net-loss-after-tax of $227 million dollars, following a $235 million profit last year.
Its residential building arm has been doing well, but it's had losses from its civil business Higgins and Australian plumbing company, Tradelink.
Milford Asset Management's Sam Trethewey unpacks a tough financial year for the construction sector. 
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Sam Trethewey: Milford Asset Management Portfolio Manager on Fletcher Building reporting a multi-million dollar net loss

Divers have resumed their hunt for the six missing people who disappeared after a luxury yacht sank off Sicily's coast.

The British-flagged Bayesian, a 56-metre-long superyacht, was carrying 22 people and anchored off the port of Porticello when it was hit by a fierce, pre-dawn storm on Tuesday.

UK correspondent Gavin Grey says hopes are dwindling - and this is more likely to be a recovery mission than a rescue. 

LISTEN ABOVE

Divers have resumed their hunt for the six missing people who disappeared after a luxury yacht sank off Sicily's coast.
The British-flagged Bayesian, a 56-metre-long superyacht, was carrying 22 people and anchored off the port of Porticello when it was hit by a fierce, pre-dawn storm on Tuesday.
UK correspondent Gavin Grey says hopes are dwindling - and this is more likely to be a recovery mission than a rescue. 
LISTEN ABOVE

Gavin Grey: UK correspondent on the ongoing search for the six people who went missing after Sicily yacht sank

The Commerce Commission has detailed several potential changes in a new 389-page report designed to improve competition in the banking sector. 

One change involves establishing a deposit compensation scheme that insures the first $100,000 of an individual or business’s savings at a bank, credit union, building society or finance company.

NZ Herald Wellington business editor Jenee Tibshraeny examines whether or not this is the way forward.

LISTEN ABOVE

The Commerce Commission has detailed several potential changes in a new 389-page report designed to improve competition in the banking sector. 
One change involves establishing a deposit compensation scheme that insures the first $100,000 of an individual or business’s savings at a bank, credit union, building society or finance company.
NZ Herald Wellington business editor Jenee Tibshraeny examines whether or not this is the way forward.
LISTEN ABOVE

Jenee Tibshraeny: NZ Herald Wellington business editor on the Commerce Commission's suggestions to improve banking competition

Tonight on The Huddle, Jack Tame from ZB's Saturday Mornings and Q&A and Kiwiblog's David Farrar joined in on a discussion about the following issues of the day - and more! 

Insurance companies are bringing in extra money - IAG posted a profit increase of 1000 percent. Whar do we make of this.

Police will be cracking down on parents who smoke in the car with their kids after three years of looking the other way - do we agree with this change? Do police need to focus on this?

Staffers in David Seymour's Ministry of Regulation earn on average $150,000 a year. Does this seem fair following all the public sector cuts?

LISTEN ABOVE

Tonight on The Huddle, Jack Tame from ZB's Saturday Mornings and Q&amp;A and Kiwiblog's David Farrar joined in on a discussion about the following issues of the day - and more! 
Insurance companies are bringing in extra money - IAG posted a profit increase of 1000 percent. Whar do we make of this.
Police will be cracking down on parents who smoke in the car with their kids after three years of looking the other way - do we agree with this change? Do police need to focus on this?
Staffers in David Seymour's Ministry of Regulation earn on average $150,000 a year. Does this seem fair following all the public sector cuts?
LISTEN ABOVE

Sam Trethewey: Milford Asset Management Portfolio Manager on Fletcher Building reporting a multi-million dollar net loss

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