Best of Business

New Zealand red meat exports reached a second consecutive monthly record in May, rising to $1.6 billion, according to the Meat Industry Association. The May result was 44 percent higher than the same month last year and exceeded the previous monthly record of $1.4 billion set in April. The Country's Hamish McKay explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Air New Zealand has outlined some future goals and areas of focus as part of their big investor presentation. The airline says it will focus more on profitable routes and premium customers - as well as improve reliability and punctuality. NZ Herald aviation journalist John Weekes says it's clear Air New Zealand wants to focus on this 'loyal' subsection of their base.  "Keep them loyal, keep t...

Recent data out of the Australian property market shows auction rates have hit a historic low point. New figures from property research firm Cotality show a preliminary clearance rate of 49.2 per cent for the past week - with fewer homes finding a buyer. Australian correspondent Murray Olds says the recent Budget has made investors less confident in the housing market. LISTEN ABOVESee omnystudio.c...

The Government is making changes to the Building Act, including bringing in a new liability scheme that means councils won't have to handle building defects on their own. The law will also introduce a one-year warranty on new residential buildings of up to three storeys and for renovations costing more than $100,000, and a 10-year structural warranty period. These changes have sparked concerns amo...

It was another big weekend for the conflict between Iran and the US, but the lack of new escalation could be good news for the markets. Reports that the US and Iran had agreed to pause further military action and resume negotiations over the Strait of Hormuz eased concerns of additional disruptions. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVESee omnystudio.com/listener f...

Starlink’s number of New Zealand customers jumped 46 percent last year as it passed Spark to become the country’s largest rural internet provider. The satellite broadband provider - owned by Elon Musk’s SpaceX - increased its Kiwi subscribers from 58,000 to 85,000 in the year to June 30, 2025, according to new reports. Tech commentator Bill Bennett says Starlink's been gathering momentum over the...

Public sector jobs keep on rising, even as the Government promises to slash numbers. Seasonally-adjusted Stats NZ data shows filled jobs rose 0.3 percent across the country last month - 0.7 in the past year. More than 6,000 public service roles were created in the year to May. ASB chief economist Nick Tuffley says lifts in Government spending on health and education have translated into jobs. "Whe...

The average price for 91 petrol has quietly sunk below $3 per litre, and there's hope it could go lower still. The Middle East conflict has seen prices reach historic highs, but the newly-announced agreement between the US and Iran has seen fuel costs fall. AA expert Terry Collins says fuel prices are likely to sink lower over the coming days, but they won't go as low as they were last year. "I se...

Yesterday, an article with Stuff owner and CEO Sinead Boucher was released on their website.   It was a wide ranging interview that included discussion about the significant impact big tech companies such as Google, Meta, and TikTok are having on traditional, New Zealand owned media companies. These platforms attract the vast majority of New Zealand’s digital advertising spend, but due to a l...

Despite the ongoing conflict in the Middle East and resulting economic downturn, there's still sections of the property market on the up. Data shows there are still some parts of the country where property prices are growing - especially outside Auckland, Wellington and the major cities.  Economist Ed McKnight revealed which parts of the country are seeing house prices go up. LISTEN ABOVESee...

ASB has joined Westpac in predicting the Reserve Bank will keep the Official Cash Rate on hold next month. The outlook has been revised after they previously predicted a hike when it's next reviewed on July 8th. However, ASB Senior Economist Mark Smith told Heather du Plessis-Allan that it'll be another close vote to stay at 2.25%. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The boss of the India New Zealand Business Council says he doesn't believe claims by Winston Peters that the Government plans to discriminate against Indian migrants.  The New Zealand First Leader claims the free trade deal with India will see the Government imposing stricter tests on Indian migrants that others aren't subject to.  Trade Minister Todd McClay says Peters is wrong - and Ed...

Micron announced its third quarter earnings earlier, beating out analysts' expectations and surpassing estimates for the company's Q4 revenue outlook. Micron's stock has also gone up as a result, pushing up chip stocks. Fisher Funds expert Sam Dickie explained further.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Federated Farmers has elected a new national president from South Canterbury. Waimate arable and dairy farmer Colin Hurst has replaced Wayne Langford. He's served as vice president for the last three years - and been spokesperson for freshwater, biodiversity, and fire and emergency issues. Former Federated Farmers president Wayne Langford says he's worked with Colin Hurst for a number of years and...

Our relationship with China takes centre stage in Auckland this morning.   The 12th annual China Business Summit brings together business and political leaders to explore areas for cooperation amid deepening global uncertainty.  New Zealand exported nearly $20 billion worth of goods to China last year.   Auckland Business Chamber chief executive Simon Bridges told Mike Hosking polit...

A former Heart of the City board member says the organisation's lost its focus.  Six of the Auckland city-centre business association's seven voting members have quit after months of turmoil which saw its chief executive temporarily stood down.   Its board says the organisation isn't compliant with its own constitution and recommends Auckland Council withhold funding and consider an audi...

Labour isn’t the only party faced with a funding challenge related to the country’s pay equity regime. The three pay equity claims in the works relate to people who work for organisations partially funded by the Government - Plunket, Hospice and Bupa Aged Care. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's been some flare-ups in the AI and chip sectors and experts have raised concerns. There's been drops on the Nasdaq and S&P 500, and investors are questioning the huge amount of spend on AI. Milford Asset Management's Jeremy Hutton explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

NZ First leader Winston Peters wants overseas tech giants to pay more tax - as Government agencies send millions offshore. Stuff reports public service departments spent $18 million dollars on advertising with offshore tech companies last year, mainly Google and Meta.  Peters says the Government needs to revisit the idea of hitting major tech firms with targeted taxes.  "Other countries...

The latest GDP figures may not reflect the reality many businesses are facing right here, right now. GDP rose 0.8 percent in the March quarter - the third consecutive quarter of growth. HSBC Chief Economist Paul Bloxham outlined some predictions about the future, especially with the ongoing Middle East conflict. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Confidence in the employment market is at an all-time low, with the Iran war still rippling through the economy. A Westpac-McDermott Miller survey for the June quarter reveals confidence fell for public and private sector employees.  A net 60 percent of respondents believe it's hard to find a job, up from 46 percent last quarter. Westpac senior economist Michael Gordon says employment confide...

A social policy advocate suggests taxing superannuants' alternative incomes could be the solution New Zealand needs. National is campaigning on raising the retirement age, which Labour's ruling out.  But earlier this year, Labour's Chris Hipkins appeared open to means testing NZ Super eligibility.  Auckland University's Susan St John says reviving the superannuation surcharge, abolished...

More small and medium businesses are looking to trim the fat after years of constant pressure.  MyHR data shows in the first three months of the year, the hospitality industry recorded 191% more restructures than in the previous quarter.  Financial and insurance sectors had their highest levels of restructuring in two years.  MyHR spokesperson Sylvie Thrush Marsh told Mike Hosking b...

National's Kiwisaver promise could help address a gender savings gap. The party is committing to raise minimum contributions and make employers contribute for staff over 65,  if re-elected in November. It would also make Kiwisaver compulsory - promising a $1500 boost for every newborn.  Milford Asset Management's General Manager of KiwiSaver, Murray Harris told Mike Hosking that staff on...

Doubts New Zealand could avoid the problems other countries faced with wealth taxes. The Greens are proposing a 2.5% tax on net assets above 10 million dollars, excluding the family home. The package also includes income tax cuts for those earning under $160,000. Dentons tax partner Bruce Bernacchi says several European countries abandoned similar taxes, after wealth and investment flowed offshore...