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The Government is considering its options if petrol prices keep rising, but the head of Freightways is warning people not to panic. The conflict in the Middle East has entered its third week, but the Finance Minister has ruled out measures like reducing the fuel excise. Freightways CEO Mark Troughear says there's plenty of fuel in the country and more on the way - and there's plenty of supply to k...

The conflict in the Middle East has entered its third week and there's concerns about what it could do to the markets. Iran's still restricting movement through the shipping strategic choke-point as part of its retaliation for the relentless bombing by the US and Israel. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's hopes the war in Iran doesn't reverse gains in our retail sector by making shipping more expensive.  Stats NZ data shows back-to-back increases in electronic card spending for January and February.  Retail NZ chief executive Carolyn Young says it's not happened in a long time.  She says it would be a shame if the conflict dampens the upward trend. "Let's hope it's a short, s...

The Government's yet to make a call on whether New Zealand would ease sanctions on Russian oil, as the Iran war affects shipments. The US has eased some of its sanctions, as its barrage on Iran continues - alongside Israel. Crude oil prices have skyrocketed since Iran stopped ships traversing the Strait of Hormuz. Finance Minister Nicola Wills is urging Kiwis not to panic, as there's plans in plac...

New Zealand Winegrowers are on Cloud Wine over proposed Government changes to alcohol laws. They include allowing licensed premises to meet legal obligations by stocking zero-alcohol drinks. Currently, licence holders must stock 'low alcohol' products containing no more than 2.5 percent alcohol.  Chief executive Phillip Gregan says it's a common sense change. "Frankly, I'm not sure that there...

The ongoing conflict in the Middle East has sparked concerns about global oil shortages, domestic rising petrol and diesel costs, and it's got experts speculating. The Government is working to find a solution, with Energy Minister Simon Watts meeting with his counterparts in Tokyo for the Indo-Pacific Energy Security Forum to discuss the issue. Nathan Surendran is the chair of the Wise Response So...

One expert has suggested Jetstar won't follow Air New Zealand in cutting upcoming domestic flights. The airline plans to cancel about 1100 flights over the next six to eight weeks because of fuel price hikes - impacting about 44,000 passengers. It's already raised fares to help cover costs. Board of Airline Representatives NZ executive director Cath O'Brien, says Jetstar's unlikely to do the same...

The US President's social media posts suggest he's worried about the price of oil, as the US and Israel bombard Iran into an 11th day. More than 1700 have been killed in the Middle East - most in Iran, and hundreds in Lebanon. Despite this, markets appear to have calmed down following the initial shock, and Milford Asset Management's Brendan Larsen explained why. LISTEN ABOVE See omnystudio.com/li...

The balance sheet is looking strong for Briscoe Group, which managed to score a few goals late in the game.  The retailer's posted record annual sales of close to $800 million, for the year ending January 25th.  Its homeware brand Briscoes saw 1.42 percent sales growth - while Rebel Sport trailed with growth of 0.13 percent. Managing director Rod Duke says the business just changed its p...

Public health experts have noticed this latest Covid wave is worsening as fewer Kiwis are getting vaccination boosters and tests, and it's renewed debate about sick leave. Wastewater analysis from PHF Science shows that the number of cases is at the highest rate it's been for over six months, and Health NZ says there's been 50 hospitalisations and 19 deaths from the virus this week. Otago Universi...

There's predictions Heinz Wattie's won't be the last to shutter operations this year. It's proposing closing three manufacturing facilities in Auckland, Christchurch and Dunedin, and packing operations in Hastings - with 350 jobs at risk. It also plans to phase out sales of products including frozen vegetables, impacting growers. The Employers and Manufacturers Association's Alan McDonald says oth...

There's been a significant increase in property flippers and it's prompted concerns from experts. One of the country's most prominent buyers' agencies has complained to the Real Estate Authority about the increase - following a sharp drop in 2023.  iFindProperty founder Maree Tassell says there's a lot of deception that comes with flipping properties, and vendors often don't find out until it...

Stock markets have rebounded and oil prices have dropped below yesterday's forecast, following recent comments from US President Donald Trump. Trump indicated the war in the Middle East could be over 'very soon', and it's led to ripple effects across sharemarkets all over the world. Matt Goodson from Salt Funds Management says it's unclear if the US can walk away from this conflict or if the Strai...

A legendary West Coast pub has removed its popular outdoor seating under threat of a $20,000 fine. It was decided the Formerly the Blackball Hilton's tables and chairs fell outside the licensed boundary. Owner Cynthia Robins says they've been there for decades - and never caused a problem.   "They're becoming much more strict with what's within the licenced area. We said - well, until this is...

An aviation commentator says Air New Zealand needs to look at ways to cut costs as the war in the Middle East impacts fuel prices.  The airline's adjusted fares - lifting domestic flights $10 and long-haul flights $90. It's suspended its guidance from less than a fortnight ago, expecting second-half earnings similar to the $59 million first-half loss. Irene King says the airline could slash i...

There's growing concerns about the economic impacts of the war in Iran. Crude oil prices have topped $100 US dollars a barrel for the first time since 2022 - and our petrol prices surged another 14 cents over the weekend. Harbour Asset Management's Shane Solly says these attacks are directly impacting key fuel sources, which has got economists worried about future prices. LISTEN ABOVE See omnystud...

The Government is actively monitoring the impact international fuel prices are having on the price we're being asked to pay at the pump. Crude oil prices have topped $100 US dollars a barrel for the first time in three years - and our petrol prices surged another 14 cents in the weekend. Finance Minister Nicola Willis says the Government's working with key industries to keep an eye on prices, in c...

The NZX has fallen 3.1 percent as the US and Israeli war on Iran dents people's investment portfolios.  Closure of the crucial Strait of Hormuz has ignited supply concerns over crude oil - now costing more than $100 US dollars a barrel.  Shares in Auckland Airport and Fisher and Paykel Healthcare have tumbled.   Generate investment specialist Greg Smith says the market's accounting...

Australia's sharemarket has taken a hammering as investors voice concerns over the escalating conflict in the Middle East. After it resumed trading today, the ASX 200 slumped 260.30 points or 2.9 per cent to 8590.708 - and dropped by 4 percent overall. Australian correspondent Oliver Peterson says this is the worst day for the Australian markets since last year's 'Liberation Day'. LISTEN ABOVE See...

Punishing strikes continue across the Middle East as Iran retaliates to US-Israeli attacks - with Gulf states busy blocking incoming fire. Israel continues to pummel Tehran, and has launched fresh attacks on Hezbollah in Lebanon, while Iran has launched an attack on Kurdish rebels in northern Iraq. Fisher Funds expert Sam Dickie revealed what this week's developments could mean for investors. LIST...

People will have to pay with cash after a Trade Me sale if they want to avoid a fee. The company's removing its 7.9 percent 'success fee' for casual selling - keeping only a small service fee. Along with Afterpay and cash, Trade Me uses its own payment system, Ping - taking just over two percent from every sale.  Trade Me’s Head of Marketplace Lisa Stewart says bank transfers will now be agai...

Wealthy overseas buyers will soon be able to buy themselves a spot in the New Zealand property market - under new terms. The foreign house-buyer rules will change on Friday, allowing those who qualify for the visa and pay more than $5 million to purchase a house. Luxury real estate agent Anthony Morsinkhof joined the Afternoons team to discuss these changes, and see whether they go far enough. LIS...

A record portion of new bank lending to first-home buyers is going to those with small deposits. More than half of the $1.1 billion lent to first-home buyers in January went to borrowers with deposits of less than 20 percent, according to the latest Reserve Bank figures. NZ Herald Wellington business editor Jenee Tibshraeny explained further.  LISTEN ABOVE See omnystudio.com/listener for priv...

There's been growing concerns about what the ongoing crisis in the Middle East could do for petrol prices. There's fears Kiwi motorists will soon pay the price at the pump over the escalating conflict, and retailers have been warned not to take advantage of the conflict.  Milford Asset Management expert Jeremy Hutton explained further. LISTEN ABOVE See omnystudio.com/listener for privacy info...

The US-Iran conflict could affect New Zealand’s red meat exports to the Middle East, the Meat Industry Association says. Reports reveal New Zealand red meat exporters were closely monitoring the situation in the region, due to the disruption to the Strait of Hormuz. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.