Best of Business

Farming produces by-products and there is one by-product in particular that has become an increasing issue in recent times; effluent, and in particular, methane emissions from farm effluent ponds. A trial by Craigmore Farming in North Canterbury will test a system designed to remove nearly all of that methane. Craigmore General Manager Stuart Taylor joined Roman Travers to discuss their plans. LIS...

Air New Zealand has been named New Zealand’s Most Attractive Employer for the seventh time, according to Randstad’s latest Employer Brand Research. The HR and recruitment specialist surveyed 4302 Kiwis, with the market’s 150 largest employers eligible for the recognition. While Air New Zealand bumped last year’s winner, Evolve Education, it could be seen as a continuation of its dominance in the c...

It's a challenging time for transport funding. Treasury says Fuel Excise Duty or Road User Charges may need to go up in a year's time to manage pressures on the National Land Transport Fund and a loan granted to Waka Kotahi. But, Transport Minister Michael Wood says he doesn't want to foreshadow Cabinet consideration of the upcoming transport budget. Transporting New Zealand Policy Advisor Billy C...

Reserve Bank Governor Adrian Orr indicated the 25bps increase to 5.5 percent is as high as the OCR will go for the foreseeable future. Orr explained that the OCR will have to stay at 5.5 percent for much of next year to bring down inflationary pressures. HSBC Chief Economist Paul Bloxham agrees that the OCR has peaked and doesn't think the Reserve Bank will hike rates up. He says the next directio...

Sheep and beef farmers are experiencing record on-farm inflation levels for the second year in a row. Beef + Lamb NZ's report Sheep and Beef On-farm Inflation 2022-23 shows on-farm inflation is at 16.3 percent, a 40-year high. In March, Beef + Lamb NZ forecasted a 30 percent decrease in average farm profit based on estimated on-farm inflation of 12–13 percent. The Country's Jamie Mackay says this...

The big four Australian banks have been given a deadline for establishing open banking standards. Payments NZ’s API Centre has published a “minimum open banking implementation plan”, giving ANZ, ASB, BNZ, and Westpac until 2024 to prepare. Open banking refers to the tech-driven revolution in financial services overseas involving non-bank tech companies improving services for consumers. BusinessDes...

New Zealand businesses wary of burning out staff are taking steps to reduce employees working when on annual or sick leave. A recent survey revealed nearly half of Kiwi employees are too stressed to do their jobs properly. Employment law advocate Danny Gelb says this uptick in businesses locking staff out of work I.T systems while on leave is out of genuine concern for employee well-being over bur...

You'll be well and truly aware that when our primary producers do well, the whole country benefits. When our farmers, orchardists and horticulturalists make a decent living, they’re able to invest a new capital and clear debt. That all trickles down through to our towns and cities. Those selling farm implements, car dealers with the latest utes and farm to town cars for the family, boarding school...

At the end of last year Tauranga City Council re-introduced paid on-street parking. But it ended up meaning less people were coming into the City Centre and therefore reduced spending at local businesses, so to get business back, the free parking is returning during weekends and after 5pm on weekdays. General Manager of City Development and Partnerships at Tauranga City Council Gareth Wallis joine...

Kegs in cafés may become the new norm, but not the kind of keg you're probably thinking of. Waikato's Green Valley Dairies is supplying cafés with 18 litre milk kegs to help reduce waste. It's set to eliminate up to 10,000 plastic milk bottles per café a year. Green Valley Dairies General Manager Mark Pullman joined Roman Travers. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Beef and Lamb are forecasting a 30 per cent decrease in average farm profit. A new report shows on farm inflation is at 16.7 per cent, which the highest it has been in 40 years and is two and a half times the consumer price inflation rate. Beef and Lamb NZ Chief Executive Sam McIvor joined Mike Hosking. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Sheep and Beef farmers are feeling the pressure of a second year of high inflation levels - which have not been seen since the 1980s. Beef and Lamb New Zealand reports show a 40 year high at 16.3 percent; that's two and a half times consumer price inflation. The most recent March figures follow a 10.2 percent increase over the previous 12-month period. Westpac Agricultural Economist Nathan Penny t...

If the cost-of-living crisis has you wanting a stiff drink, think again. The alcohol excise tax will increase 6.65 percent in July- the second largest increase in 30 years. Brewers Association Executive Director, Dylan Firth says  the Government can opt to not raise the excise by CPI, but never has. "They've said no in the past, and we've tried different angles in how we could potentially introduc...

This week on The Sunday Panel, Coast day host Lorna Subritzky and the Front Page's Damien Venuto joined in on a discussion about the following topics- and more! The Labour Party has promised to keep the Superannuation age at 65 and maintain the Winter Energy Payment. What do we make of this announcement- or non-announcement- do you back it? New Zealanders are increasingly embracing ethical investi...

A new survey shows more Kiwis are concerned about where their KiwiSaver investments go. Mindful Money's annual survey says 74 percent of people expect their investments to be managed responsibly and ethically. 59 percent would move their funds if they weren't invested in a way that aligned with their values. BusinessDesk editor and Cooking the Books host Frances Cook says perceptions around ethica...

From today, kiwis can make electronic bank payments seven days a week. No more having to wait for payments to go through after public holidays or weekends - payments will go through 365 days a year. Chief Executive of Payments NZ Steve Wiggins joined Mike Hosking to discuss what this means for New Zealanders. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

There's a clear divergence between loose fiscal policy and tight monetary policy. Reserve Bank Governor Adrian Orr says a restrictive monetary policy will be in place for some time following the latest OCR hike, but denied Budget 2023 would contribute to inflation. Sam Dickie from Fisher Funds says this issue is a problem worldwide, as Governments have relied on expansionary fiscal policy since th...

Fonterra has announced an opening 2023/24 season farmgate milk price forecast of $7.25 to $8.75 per kg. The co-op also reported an increase in its third quarter net profit to $1.326 billion, up $854 million on the same period last year. The Country's Jamie Mackay says the $8.00 per kg midpoint price will be 'disappointing' for dairy farmers. LISTEN ABOVE   See omnystudio.com/listener for privacy i...

Reserve Bank Governor Adrian Orr warns restrictive monetary policy will be in place to fight inflation. The OCR has been raised by 25 basis points to 5.5 percent, but the RBA says it's unlikely to to higher. NZ Herald business editor Liam Dann says we may have gotten used to lower rates during the post-GFC timeframe and older generations will remember cash rates being 6- 7 percent. "The other big...

Billionaire and 'human bulldozer' Clive Palmer seeks to expand mining in New Zealand- including conservation land.  Palmer's company Mineralogy already has 10 permits to prospect and explore for minerals, with another 8 under consideration. DOC granted Mineralogy access to work in 5 areas on conservation land, including Lake Brunner on the West Coast. Development West Coast CEO Heath Milne approve...

The Reserve Bank and economists are at odds over interest rate predictions. The Official Cash Rate was lifted 25 basis points yesterday to 5.5 percent, and Governor Adrian Orr says expects that's its peak. But economists from at least two major retail banks refuse to back down on forecasts of more increases. Westpac chief economist Kelly Eckhold says our population is expected to grow about 2.5 pe...

What's the line about history repeating itself? What undid the Helen Clark Government was shower heads and water pressure. It wasn’t their only issue, by the time they had got to their third term they looked tired and, worse, they looked arrogant. Fast forward 20-something years and history repeats. For those who follow these things, or you're too young to remember, it was a nail-in-a-coffin momen...

New Zealand's logistics and freight industry is calling for immediate intervention to a worker shortage. A new government study finds the labour shortage could triple from nearly 5000 to over 18,000 in the next five years. Chair of the NZ Council of Cargo Owners Ant Boyles joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for privacy information.

In 2018, Queenstown Airport predicted it would need to double the number of flights to one every four minutes to accommodate an expected 5 million passengers by 2045. But after receiving backlash on that plan, they now have a new plan for a predicted 33 percent increase in the number of passengers over the next decade. But the number of flights in and out of Queenstown are staying much the same as...

The freight and logistics sector urgently needs skilled workers - and they need them yesterday. Without any intervention, labour shortage in the sector is set to widen from 4,700 to 18,000 by 2028, according to a new report. Deputy chief executive of Hanga-Aro-Rau and report author Samantha McNaughton joined Mike Hosking. LISTEN ABOVE       See omnystudio.com/listener for privacy information.