Best of Business

Covid restrictions still feel like a handbrake for the hospitality industry. The Government is not changing the seven day isolation requirement for cases for at least two months. It's also asked for more work on whether testing to return to work for mild or asymptomatic cases, would be safe. Hospitality New Zealand Chief Executive Julie White told Tim Dower people need to be able to get back to wo...

The Immigration Minister is expecting thousands of people to arrive on our shores as a result of immigration changes in the healthcare sector. 32 new health jobs have been added to the Straight to Residency pathway on the Green List. They include dentists, paramedics, optometrists and pharmacists. Michael Wood told Tim Dower in the past year more than 4,000 healthcare workers have been approved un...

There has been disappointment New Zealand isn't looking to move away from mandated Covid-19 isolation. The Government is not changing the seven-day isolation requirement for cases for at least two months. It's also asked for more work on whether testing to return to work for mild or asymptomatic cases,  would be safe. First Retail Group Managing Director Chris Wilkinson told Roman Travers this wil...

A previous Immigration Minister isn't surprised at the dwindling Active Investor Plus visa applications. This visa, designed to attract wealthy individuals who can invest millions of dollars into New Zealand companies, has only drawn in 14 applications in the past six months. Former Immigration Minister Tuariki Delamere blames the changes to the scheme for the lack of applications, including the E...

Auckland Transport's new CEO wants services back to pre-Covid levels. Dean Kimpton wants to lift public transport usage by 20 percent in the next year. He says that involves employing another 360 bus drivers and up to 50 ferry skippers. "So this is not an easy task, it's going to take a lot of employment, it's going to take a lot of training and we have to implement new schedules." LISTEN ABOVE Se...

A cyber security firm is warning of an increasing risk of cyber attacks targeting healthcare. A CyberCX report shows it's in the top five most targeted sectors in Australia and New Zealand by cyber extortion groups. It ranks third alongside IT and wholesale and retail services. Chief Strategy Officer Alistair MacGibbon told Tim Dower it's the sensitive and important information that's attractive t...

Helius Therapeutics is now certified to dry and finish medicinal cannabis flowers. Now the only fully certified company in the country, patients can rely on locally sourced dried flower products. Helius chief executive, Carmen Doran joined Roman Travers. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Auckland-based Scarbro Construction has today declared insolvency and called in liquidators. The building company has stopped work on five active construction sites- and experts warn this won't be the only construction business in trouble this year. AUT Construction Management professor John Tookey wasn't expecting Scarbro to dissolve, but says that any construction company can go belly-up. John T...

The Reserve Bank hiked up the OCR higher than expected- and it shocked a lot of experts. The Official Cash Rate went up 50 basis points to 5.25 percent, the highest it's been since the 2008 global financial crisis. NZ Herald business editor at large Liam Dann says the Reserve Bank delivered exactly what they said they were going to in February. Liam Dann explains that the Reserve Bank would have d...

So here's the first realisation that we face out of the Reserve Bank's 50 basis point rise - it was 50 points. It proves, yet again, no one seems to really have a handle on what's going on. Secondly, and most worryingly, is it was 50 points. While Australia sees no need to move at all, we are still in the large end of the spectrum. The Americans moved by 25 points, but we moved by 50 because of th...

Yesterday's 50 basis point rise of the OCR by the Reserve Bank puts us at 5.25%. It is now the 11th successive hike and is the highest level since December 2008, so questions have been raised as to how will our economy fare. Former Minister of Finance Steven Joyce joined the Mike Hosking Breakfast. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Another half-percent on the OCR, which was harsher than most pundits had predicted and takes the cash rate to 5.25 percent. 11 hikes in a row now, yet inflation is still painfully high. The RBNZ says employment is also still beyond what's sustainable and it says recent weather events have pushed some prices even higher. The fact the economic pundits were caught off guard is more than a bit of a wo...

A claim has come that the Official Cash Rate increase will continue to hit pockets and stretch incomes The Reserve Bank has shocked many by hiking the OCR 50 basis points to 5.25 percent. Council of Trade Unions economist Craig Renney would like to see increases paused, so people can get used to it. He told Tim Dower lots of people are facing multiple economic strains at once. Renney says many are...

Yesterday, Former head of Tourism Industry Aotearoa and current managing director of tourism research agency Angus and Associates Chris Roberts joined the Mike Hosking Breakfast for a discussion around public-private partnership within the tourism industry. Tourism NZ heard the discussion and they wanted to join the conversation around what we are already doing and what the sector has in it's futu...

Tough times are expected to follow the Official Cash rate hike, which caught many by surprise. The Reserve Bank increased the OCR by 50 basis points to 5.25 percent. Kiwibank Chief Executive Steve Jurkovich says it will be a knock to business confidence and will mean people tightening their belts. But he told Mike Hosking it's balancing out previous extreme trends. Jurkovich says we've had low int...

Federated Farmers say some farmers feel like the Government has abandoned them two months after Cyclone Gabrielle. An additional $23-million has been approved by the Government to help those affected, bringing the total to $78 million. More than half of the 6,000 applications have already been approved, with $37 million so far paid out. But Federated Farmers Acting Gisborne-Wairoa President Charli...

Persistent inflation has failed to be dampened down by consistent Official Cash Rate increases. The Reserve Bank has hiked it by 50 basis points to 5.25 percent, defying many economists' expectations. JMI Wealth Director Andrew Kelleher says weather events are partially to blame for inflation. But he told Mike Hosking the Government needs to acknowledge its contribution. Kelleher says there should...

Dairy NZ says targeted payments are the best solution to help farmers affected by Cyclone Gabrielle. The Government has approved an additional $23 million to help those affected, raising the total to $78 million. More than half of the applicants have already been approved, with $37 million paid out already. Farmer-elected director Jacqueline Rowarth told Tim Dower throwing money at the problem isn...

The New Zealand-filmed Netflix series Sweet Tooth generated $66 million for our GDP. And with Kiwi's making up 95 percent of crew and 80 percent of cast it also stimulated 1180 jobs. The series, granted $9.6m from the New Zealand Screen Production Grant for New Zealand productions as part of a government screen incentives scheme and generated $7 for every $1 invested. SPDA President Irene Gardiner...

Economists are expecting another hike of the OCR by the Reserve Bank today. Most are picking a 25 basis point rise taking it to 5 percent, this would be the highest since December 2008. Westpac acting chief economist Michael Gordon joined Mike Hosking. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Could a public-private partnership be the key to survival of tourism? Tourism experts are calling the sector to break away from the high-volume model of tourism seen in 2019 - and instead focus on a new public-private partnership model that reflects a inter-sector collaborative approach of the future of tourism. Former head of Tourism Industry Aotearoa and current managing director of tourism rese...

Another hike is expected for the Official Cash Rate this afternoon. Most economists think the Reserve Bank will be slightly more conservative, with a 25 basis point rise. But that will still take the OCR to 5 percent, which will be the highest it's been since December 2008. ANZ chief economist Sharon Zollner joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for privacy information.

TVNZ's CEO Simon Power is stepping down after 15 months in the role. He will leave the company on June 30th, and says it's "been a privilege" to lead the company while it worked through the now-scrapped TVNZ/RNZ merger. BusinessDesk managing editor Pattrick Smellie suspects it wasn't the dumped merger that pushed Simon Power to quit. Pattrick Smellie says several TVNZ board members have just been...

Bad news for clothing and homewares retailer EziBuy. The company has been put into administration by its Australian owners - which is likely to be the end of the line for the business. Owner Mosaic Brands says EziBuy’s sales have fallen 51 percent year-on-year in the first half of the financial year. Head of retail at Devon Funds, Greg Smith says the business had been starting to decline for some...

The Prime Minister says legitimate concerns have been raised about lobbyists' access to MPs. Private-sector and union reps are losing swipe-card access to Parliament, with the Cabinet Manual also being refreshed. Support is being offered to third-party lobbyists to establish a voluntary code of conduct. Chris Hipkins told Mike Hosking the perception our democracy is robust and operates without inf...