Investor flight risk for airlines
What you need to know on Friday morning, July 18
- NZX50 down 1.857 points (0.04 per cent) to 5112.386
- NZ dollar at US86.95 cents, A92.74c, 898.07yen, 50.81p, 64.29 euro cents
- Brent crude oil at US$107.83 a barrel (up US66c)
- Spot gold at US$1316.50 an ounce
What's on today
-No local events are scheduled for today, but there will be some international data for investors to keep an eye on, including US consumer confidence figures that, if positive, could strengthen the US dollar against the kiwi.
Stocks to watch
- Air New Zealand: while it has no direct connection to the Malaysia Airlines flight which crashed eastern Ukraine this morning, New Zealand's national airline could be a victim of a general anti-airline sentiment in the aftermath of the latest disaster featuring Malaysia Airlines.
Top international news
- Microsoft chief executive Satya Nadella kicked off one of the largest layoffs in tech history on Thursday, signalling he intended to shake up the aging PC industry titan, but leaving questions about how exactly he would transform it into a nimbler, web-based rival to Apple and Google.
Microsoft says it will slash up to 18,000 jobs, or 14 per cent of its workforce, over the next 12 months as it almost halves the size of its newly acquired Nokia phone business and tries to become a cloud-computing and mobile-friendly software company.
The larger-than-expected cuts are the deepest in the software giant's 39-year history and come five months into Nadella's tenure.
Beyond the Nokia reductions, Nadella gave few clues about where the axe will fall or what areas will receive more funding, saying he will answer questions from employees at a town hall meeting at Microsoft headquarters in Redmond, Washington, on Friday and flesh out his plans publicly after Microsoft's quarterly earnings report on July 22.
Something else for your morning
- Uranium in phosphate nodules that Chatham Rock Phosphate intends to mine could threaten New Zealand's nuclear-free reputation, the seafood industry has told the Government.
But the Golden Bay-based miner says the uranium is "incidental" and Conservation Minister Nick Smith agrees, saying it is a side issue.