Morning Report

An airline analyst is predicting more airlines could go bust as the industry struggles with the disruption caused by Covid-19.

The editor of AirlineRatings.com Steve Creedy says the sudden and widespread dropoff in passenger numbers is hurting many airlines.

His comment come the day after Air New Zealand scrapped its financial forecasts for this year.

The airline's new boss Greg Foran, says the airline is now facing an unprecedented situation and it is difficult to predict future demand.

Creedy speaks to Morning Report.

The financial world is still in turmoil due to Covid-19.

BNZ is warning a recession is on the way, the cost of oil is crumbling and regional workers are struggling as business dries up.

The Government has announced work is underway to finalise a business continuity package, but that won't be fully announced until next week.

Finance Minister Grant Robertson speaks to Susie Ferguson.

Trading in US shares was briefly suspended after sharp falls led to an automatic halt in the selling and buying of stocks.

Once trading resumed, the three major US stock indexes were down over 6 percent.

The move follows dramatic falls globally with shares facing the worst day since the 2008 financial crisis.

A row between Russia and Saudi Arabia saw oil prices plunge by 20 percent, hitting markets already reeling from fears of the impact of the coronavirus.

The day has been dubbed "Black Monday" by analysts who described the market reaction as "utter carnage".

Senior editor at Bloomberg, John Authers, speaks to Corin Dann.

Japan rugby has been thrown into more turmoil but this time it's due to drugs and not the coronavirus.

News from the business sector, including a market report.

The National Party is calling for more urgency when it comes to supporting businesses affected by Covid-19, describing the government's attempts so far as "startlingly flat footed".

Yesterday Grant Robertson announced some of the government's plans to offset the economic impact of the virus, saying a "tailor-made" response is needed to deal with the unique situation.

Paul Goldsmith is National's finance spokesperson.

He speaks to Corin Dann.

The government is facing criticism for not moving fast enough on a package to help businesses impacted by the coronavirus.

Yesterday Cabinet approved the development of a business continuity package, but the details won't be announced until next week and that's disappointed some.

Political reporter Yvette McCullough has the story.

A price war has wiped billions from the market value of the world's biggest oil companies after oil markets recorded one of the biggest price slumps in history.

Saudi Arabia's decision to increase its production even as the coronavirus outbreak stalls global oil demand triggered a 30 percent drop in oil prices overnight.

The oil price shock caused the UK oil giants Royal Dutch Shell and BP to lose more than 32 billion pounds from their combined market value within minutes of the London Stock Exchange opening.

Simon Henderson is from the Washington Institute and specialises in energy matters.

He speaks to Susie Ferguson.

News from the rural and farming sector.

A trial has heard a couple was responsible for lighting two separate fires in the tinder-dry Tasman region during a complete fire ban.

Benjamin Durrant and Abigail Page are accused of lighting a fire on the side of Moutere Highway in late February last year, three weeks after a huge blaze started in Pigeon Valley.

They are also accused of lighting another fire on Pigeon Valley Road in early March.

Jonathan Mitchell has been in the High Court in Wellington.