A round-up from Radio New Zealand's business reporters - including new Mad Butcher stores, a new American destination for Air NZ and JPMorgan Chase's profit rise.
Veritas opens Mad Butcher stores
Veritas Investments is opening a series of mini Mad Butcher stores, starting with its first in Mosgiel, near Dunedin.
Mad Butcher's chief executive Michael Morton says the mini stores will operate as an outpost with a sole butcher on site. Most of the meat processing and storage will be done by nearby stores.
He says these new stores will allow the company to expand into areas that were previously considered not big enough, for a traditional sized store.
Mr Morton says three other franchisees have expressed interest in opening a mini store, and are currently looking for suitable sites.
Air NZ to announce American destination
Air New Zealand says it will announce a new North American destination tomorrow.
The national carrier currently flies into Honolulu, Los Angeles, San Francisco and Vancouver.
JPMorgan Chase reports profit rise
The American investment bank, JPMorgan Chase, has reported a 12 percent rise in profit to US$US5.91 billion, for the three months to the end of March, as revenue from bond trading improved.
It says net income in its corporate and investment banking division was $US2.5-billion - up $US412-million, compared with the same period a year earlier.
But it also reported an after-tax charge of $US487 million for legal expenses.
And it has set aside a total of $US959 million to cover bad loans, which is $US109 million more than a year earlier.
Strong US dollar offsets oil price benefits
The International Air Transport Association says a strong US dollar is offsetting much of the benefit from falling oil prices.
Crude oil prices have fallen by more than half, while the US dollar has strengthened by more than 20 per cent.
It says the costs of ground-handling, catering and other aircraft services have risen, for many airlines, because contracts are often in US dollars