Best of Business

A weaker dollar's helping commodity prices.   ANZ’s Commodity Price Index hit a record high in March, rising 6.4% as the dollar weakened 2.8%.  Global prices rose 4.1% – the second-highest monthly rise on record.  BusinessNZ CEO Katherine Rich told Mike Hosking on the surface, higher prices look positive for exporters, but they're also facing much higher costs.   She says the w...

One expert says it's important Auckland makes the most of what it has in terms of infrastructure, rather than daydreaming about future mega-projects. Infrastructure New Zealand is calling for more investment in Auckland's transport woes in order to boost the city's productivity.  CEO Nick Leggett says Auckland needs to unlock the right tools to make the most of the city - and said a congestio...

The average sheep and beef farm is forecast to make double what they did last year - according to new projections.  The Mid-Season Update by Beef + Lamb New Zealand’s Economic Service is forecasting an average profit before tax for 2025-26 of $287,600 per farm, following two difficult seasons for the sector. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listene...

There's no surprise regional flights are some of the first on the chopping block for Air New Zealand. The airline says rising jet fuel prices are making it cut about four percent of flights, including many for Tauranga and Nelson. Affected customers will be told this week - and most put on same-day alternative flights. It axed more than a thousand flights in March. Airports Association chief execu...

A push for policymakers to veer away from an outright social media ban for under-16s. A select committee inquiry's recommending tightening rules on content, advertising and algorithms, and limits for young users. Social media giant Meta wants stronger protections prioritised over age bans. Waikato University Cyber Law lecturer Rachel Tan says a duty of care model would address harms better. "If th...

A nationwide survey by the Combined Building Supplies Co-operative has found that 84% of members have felt moderate to significant impact from fuel price increases.  CEO Carl Taylor said some builders can't even afford to get to their work sites.  "So, clients are obviously starting to look at pausing their projects, pricing becomes harder to lock in, and the confidence drops, and that's...

The ongoing conflict in the Middle East has been taking place for five weeks, and it's started to impact financial results. Data shows business confidence has plunged over the last month, airlines are cutting down projected results and retail and construction have taken a hti. Sam Dickie from Fisher Funds explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A farmer has revealed he gets paid 60 cents for 1kg of peas - which were selling for $5.79 at the local Pak’n’Save. This has prompted questions about where the extra margin goes, especially following the planned closures at McCain and Watties. Foodstuffs North Island CEO Chris Quin says it's unclear where the $5.79 figure came from. "It's certainly not easy, and I think that's what we're seeing wi...

ASB is facing a fine of around $6 million for breaching anti-money laundering rules.  Banks are required to do their due diligence with their money, in order to comply with existing legislation - but ASB hasn't followed the right systems.  NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

After multiple delays, Kathmandu’s parent KMD Brands filed its half-year results, revealing details of a discounted capital raise and news that chairman David Kirk is stepping down. The company, which owns outdoor brands Kathmandu, Rip Curl and Oboz, reported a net loss of $13.1 million, sparking concerns among investors.  Milford Asset Management expert Jeremy Hutton explained further. LISTE...

Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group. The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth. NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many...

Labour MP Kieran McAnulty says his member's bill to loosen liquor regulations on key public holidays will clear up confusion. It would allow hospitality venues to sell alcohol on Good Friday, Easter Sunday, Anzac Day morning and Christmas Day - without needing to serve a meal. The bill could be in place by this Easter weekend, with its final reading underway in Parliament. McAnulty says venues cur...

Allbirds, the sustainable footwear maker co-founded by ex-All White Tim Brown, says it has sold its 'intellectual property and certain other assets' for $68 million. The process is expected to be completed by April 24, followed by a distribution to shareholders. Its fourth-quarter earnings call was cancelled and no financials will be released for the period. Massey University marketing professor B...

Some restrictions on Good Friday and Easter Sunday alcohol sales could be gone as soon as this long weekend. A member’s bill from Labour MP Kieran McAnulty would amend the Sale and Supply of Alcohol Act to allow premises that are already open on Good Friday, Easter Sunday, Anzac Day morning, and Christmas Day to sell alcohol under normal licence conditions. Epic Hospitality CEO Greig Wilson says t...

All signs are pointing towards inflation going up as the Middle East conflict causes business confidence to plummet.  ANZ's latest Business Outlook survey shows most firms expect costs to increase as economic insecurity sets in.  Most anticipate they'll raise prices in the next three months. Retail and construction had the sharpest slides in confidence.  Auckland Business Chamber Ch...

The Middle East conflict continues on for another week, and it's led to economic forecasters revising their predictions for recovery. Significant cuts to growth, higher inflation, lower investment, household consumption, and higher unemployment appear to be on the cards, according to new reports.  HSBC chief economist Paul Bloxham says it's unclear how the central banks on both sides of the T...

Power bills are set to go up from tomorrow, from as high as 5 to 10 percent. Electricity lines charges are set to go up, following an earlier Commerce Commission decision to allow for the charges to go up. Consumer NZ's Paul Fuge explained that these increases will vary across households, with some seeing higher increases and some seeing lower ones.  "Because it is so convoluted and so comple...

The Federated Farmers High Country Field Day recently took place at Glenaray station in the Waikaia Valley. Over 280 visitors visited various sites across the farm to discuss the issues impacting New Zealand's rural sector. The Country's Jamie Mackay recapped the action, and speculated about the lack of Labour MPs at the event.  LISTEN ABOVE See omnystudio.com/listener for privacy information...

With so much uncertainty in the Middle East, people should focus on preparing for different scenarios that could affect their businesses, ASB chief economist Nick Tuffley says.  ASB’s revised outlook forecasts inflation to climb further this year and GDP growth contracting for the second quarter thanks to higher fuel prices hitting consumers.  Tuffley told Mike Hosking that Q2 was when t...

The Brent crude oil price is on track for a record surge as the conflict in the Middle East continues. Oil prices have been climbing all month as a result of the conflict and experts have raised concerns. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Chris Luxon says the Government's proposed LNG important terminal in Taranaki will only proceed if it makes commercial sense. A procurement process was announced last month, with the Government due to make a decision on whether to proceed around the middle of the year. Newstalk ZB understands multiple ministers privately admit high gas prices might lead Cabinet to walk away from the project. The P...

There's growing calls for Kiwis to buy New-Zealand made products as pressures mount on our manufacturing sector and local producers. This follows the recent announcements of closures of both McCain and Heinz Wattie's processing sites.  Buy NZ Made executive director Dane Ambler says we need to nip this in the bud now, as demand collapses. "There's growing international competition, so now is...

The Warehouse Group has reported a first half net profit after tax of nearly $16 million. CEO Mark Stirton told Heather du Plessis-Allan he is 'pleased' with the result But, like most of the world, concerns over Iran and fuel costs plague future outlooks.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A Los Angeles ​jury recently found Meta and Google guilty of designing harmful social media platforms that encourage addictive behaviour in users. The jury found Meta liable for $4.2 million in damages and Google for $1.8 million, and it's expected this case will inspire similar legal cases.  Senior public health researcher at UOA, Dr Samantha Marsh, says this is a historic moment for social...

Labour may still hand a lifeline to the Government's much-touted surcharge ban.  The policy was announced with much fanfare last year - with Minister Scott Simpson promising it would be in force by May.  But he now says the bill's on pause, after David Seymour confirmed ACT won't back it.  National's now hoping for Labour's support for it to pass, with the Opposition keen to see ame...