Best of Business

I see Consumer NZ is making a last ditch attempt to ping the supermarkets on dodgy pricing or so called specials that are not specials. They’re relying on us, the customers, to give them examples to strengthen their case, they say they’re “calling on New Zealanders to be the eyes and ears at the supermarket one last time to help gather as much evidence for the Commerce Commission as possible.” The...

The International Air Transport Association are warning that the sweet spot of passengers blindly accepting high air fares may be coming to an end. Demand was through the roof post-Covid but with inflationary pressures persistent, they could be dampening the overall appetite for travel. Executive director at BARNZ Cath O'Brien joined Mike Hosking. LISTEN ABOVE   See omnystudio.com/listener for pri...

Grocers are calling for solutions after recording an almost 40 percent increase in North Island retail crime. Data collected from New World, PAK'nSAVE and Four Square stores have found an average of 37 incidents of retail crime a day between February and April this year. Foodstuffs North Island chief executive Chris Quin told Mike Hosking local grocers have never seen retail crime at these levels....

An Auckland headmaster says the Government's new vaping regulations aren't good enough. New rules include banning new vape stores near schools and marae, disposable vapes and flavour-names that appeal to children. Auckland Grammar Headmaster Tim O'Connor told Mike Hosking students will still mange to get their hands on products. He says there are five vaping stores near his school alone. LISTEN AB...

Red meat exports are exceeding expectations despite the current financial market. The Meat Industry Association is reporting a two-percent increase in exports in April, worth almost $1 billion, compared to the previous year. The association's CEO Sirma Karapeeva told Kate Hawkesby things are improving after a slow start to the year. She says any increase is a sign of recovery, but she doubts they'...

Synlait Milk's shares surged by 16 percent after renewing their license to produce infant formula for the world's most populous nation. Investors regained confidence in the brand after they successfully secured the right to produce A2 Milk's infant formula for the Chinese market. HighGround Dairy global dairy consultant Stuart Davison says this unexpected jump was a result of the market not pricin...

A new study into Kiwi's meat-eating habits shows 9 in 10 of us are still meat eaters. New Zealanders seem to gravitate towards chicken over red meat, with chicken accounting for about a third of meals within an average week, compared with beef at 22 per cent - and taste and price are the top factors in purchasing decisions. AG Research senior scientist Cameron Craigie joined Mike Hosking to discus...

Red meat consumption is on the decline in New Zealand, as shoppers fill trolleys with chicken instead. A study out of Lincoln University shows that while nine in ten of us still eat meat, over all intake is lowering due to cost and health concerns. But it also found that chicken now makes up about a third of meals a week. Poultry Industry Association Executive Director Michael Brooks says people a...

Economist Tony Alexander joins the Weekend Collective to give updates on his weekly newsletter and discuss whether the property market has bottomed out. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Calls have come for support in Southland as the future of the Tiwai smelter remains unknown amid large profits. The smelter faces closure next year if its parent company, Rio Tinto, isn't able to strike a deal with power companies. Southland Chamber of Commerce President Neil McAra told Mike Hosking the region and the smelter need each other. Rio Tinto reported an underlying profit from the smelte...

High demand for workers is giving  more power to some at the negotiating table. A Frog Recruitment survey shows 79 per cent of managers have made more counter-offers to resigning workers in the 12 months to March, than previous years. Higher salaries are the main demand, with 45 per cent of workers saying a pay boost would stop them leaving. Managing Director, Shannon Barlow says counteroffers are...

The categorisation of cyclone affected properties could continue to shift, as the finer details are ironed out. The Government will help fund council buy-outs for about 700 category three homes where future severe weather risks can't be mitigated sufficiently.  Associate Finance Minister Michael Wood told Mike Hosking the plan's $1 billion total is an evidence based indication, and could change. H...

Property commentator and former politician Ashley Church joined The Weekend Collective for the OneRoof Radio Show to discuss just how much further house prices around the country have to fall. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Auckland Mayor  Wayne Brown  has made a last-minute bid to build support for a $2.3 billion sale of the council’s airport shares ahead of releasing his final budget proposal today. Councillors were called to two confidential meetings yesterday, one in the morning on the sale of the airport shares and one yesterday afternoon to discuss a draft of the mayor’s final budget proposal. Brown will releas...

Increasing concern has come that the forestry sector isn't being run in a sustainable way, with businesses on the chopping block. A 23-year-old business is shutting up shop due to a raft of troubles, including rising costs, slim margins and export log prices continuing to fall. Stubbs Contracting owner Robert Stubbs told Mike Hosking it's been a slippery slope for the last three years, since Covid...

Cost of Living pressures don't look like they are abating anytime soon but we may actually just be acclimatising to our new norms. The latest Centrix credit indicator shows that for the first time in eight months, there's been a reversal of the increase of arrears in home lending or mortgages. Arrears were sitting at 11.8 per cent in march but have now dropped to 11.3 per cent with a decline in th...

The tide may be turning on tumbling property values after three analysts all judged fresh real estate data shows a “possible floor in [house] prices is approaching”. New reports from OneRoof, CoreLogic and ANZ Bank point to potentially better times ahead for homeowners, despite interest rates likely staying higher for longer. Today’s latest  OneRoof-Valocity House Index  showed New Zealand’s avera...

Job growth continues to shoot up, with April's 0.6 percent increase continuing the trend of previous months. The largest reported increases were in accommodation, food services, healthcare and manufacturing, with only agriculture, forestry, and fishing trending down. Infometrics Principal Economist Brad Olsen says these growth figures are a double-edged sword, as they don't signal that the economy...

Economists and the Reserve Bank have been laying out their predictions on house prices. The RBNZ recently increased their house price forecast track in their Monetary Policy Statement- but they still expect some house price falls. ANZ economists followed suit, raising their price forecasts and citing positive net migration as a key factor. Milford Asset Management Equities Analyst Jeremy Hutton sa...

Confidence in the economy is rebounding- but this positivity will make things harder on the Reserve Bank. According to ANZ's Business Outlook survey, business confidence lifted 13 points from -43.8 to -31.1, while expected own activity rose from -7.6 to -4.5. NZ Herald Wellington business editor Jenee Tibshraeny says this is a double-edged sword for the economy, as the Reserve Bank is still trying...

The Dairy Companies Association of NZ welcomes the beginning of the nation's Free Trade Agreement with the UK. It came into force today, and the wine, honey, red meat and dairy sectors all set to benefit from significantly improved access.  DCANZ Executive Director Kimberly Crewther says this is a really significant day for the dairy industry and presents good news to struggling Kiwi farmers. "The...

Some good news has come for the screen production industry with the Government proposing a tweak to the current Screen Production Grant, starting with a name change to the Screen Production Rebate. The say the rebate will be made simpler, more competitive and easier to access. This includes the post-production, digital and visual rebate returning to a flat rate of 20 per cent, and the qualifying e...

Air New Zealand's boss isn't taking its latest award for granted. The company has been crowned AirlineRatings.com's Airline of the Year, beating the last winner Qatar Airways. Air New Zealand Chief Executive, Greg Foran told Mike Hosking there's still more for them to work on,  following the pandemic. He says they'll reflect on the win, but he wouldn't say the airline is fully back to normal follo...

National's U-turn on housing density is one of many factors leading developers to put their projects on ice. The party has pulled out of its bi-partisan agreement with Labour, confirming it will allow councils to opt out of legislation allowing three-storey homes on most residential land. Subdivide Simplify Head of Strategy Troy Patchett says it will put developers off making decisions. But he tol...

Disappointment at the idea of hiking fuel taxes. Treasury warns rising costs in the transport sector and a large loan granted to Waka Kotahi may mean an increase in Fuel Excise Duty and Road User Charges is needed. It says they may need to go up from July 1 next year. National Road Carriers Chief Executive Justin Tighe-Umbers told Mike Hosking first we need to spend on what's essential - and then...