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Auckland port’s financial results reignite questions about council ownership – New Zealand Herald

Mixed reaction to Auckland port financial result: is Covid to blame or ownership model?

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Whether Auckland Council is the best owner for the financial health of the city’s port – and ratepayer pockets – is again in question after Ports of Auckland’s annual performance across most markers.
Revenue forFY20 was down 6.7 per cent to $231.4 million, reported net profit after tax fell from $53.9m last year to $23m, and cargo volumes across all classes were down.
The $4.9m dividend it pays the city this month will be 20 per cent of after-tax profits instead of 80 per cent, to fund its in…

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Tesla posts net profit for fifth straight quarter – Stuff.co.nz

Tesla has charged through an auto industry sales slump to post stronger-than-expected net earnings for the third quarter.

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Tesla charged through a summer auto industry sales slump in the U.S. to post stronger-than-expected net earnings for the third quarter.
The electric car and solar panel maker said Wednesday that it made US$331 million, or 27 cents per share, for its fifth-straight profitable quarter.
Excluding special items such as stock-based compensation, Tesla made 76 cents per share, beating Wall Street estimates of 57 cents. Revenue from July through September was US$8.77 billion, a record that passed analysts’…

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Tamarind Taranaki collapse leads to offshore oil field supply company being put into liquidation – Stuff.co.nz

Taranaki’s oil and gas industry has been delivered another blow with the company servicing the Tui Oil Field going into liquidation, a flow on from Tamarind Taranaki’s…

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Taranakis oil and gas industry has been delivered another blow with the company servicing the Tui Oil Field going into liquidation, a flow on from Tamarind Taranaki’s collapse.
Norwegian-based BW Offshore have put BWU, a wholly owned subsidiary which operates the floating storage production and offloading vessel (FPSO) Umuroa, into voluntary liquidation after incurring millions of dollars of unsustainable costs.
In a statement, BW Offshore chief executive Marco Beenen said BWU was liquidated to…

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FDA approves first Covid-19 drug: Antiviral remdesivir – Stuff.co.nz

US President Donald Trump received the treatment when he was sickened with the coronavirus earlier this month.

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US regulators on Friday (NZ time) approved the first drug to treat Covid-19: remdesivir, an antiviral medicine given to hospitalised patients through an IV.
The drug, which California-based Gilead Sciences Inc is calling Veklury, cut the time to recovery by five days from 15 days to 10 on average in a large study led by the US National Institutes of Health.
The US Food and Drug Administration has approved the first drug to treat Covid-19.
It had been authorised for use on an emergency basis since…

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