Best of Business

A vote of no confidence in Chris Hipkins from Act after the extension of the fuel tax cuts. The new Prime Minister yesterday announced the 25 cent tax cuts and half-priced public transport will now be extended until June. It will cost an estimated $718 million, which opposition parties say is a continuation of old Jacinda Ardern policies. Seymour told Kate Hawkesby Labour's spending on tax cuts ne...

There are suggestions the next Official Cash Rate increase will be 50 basis points. Latest figures from the December quarter show the unemployment rate has risen slightly to 3.4 percent, which was higher than expected. It's sparked speculation from major banks that the next OCR hike to cool inflation will be lower, rather than the predicted 75 basis points. NZ Herald Wellington business editor Jen...

A business leader claims Kiwi companies are being hit hard by a workforce shortage. Stats NZ's latest labour market figures for the December quarter, showing unemployment has inched up to 3.4 percent. Employers and Manufacturers Association head, Brett O'Riley, told Kerre Woodham we don't have enough highly skilled people. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Simon Bridges is calling on the new Minister of Auckland, to listen to the concerns of businesses in our largest city. Mount Roskill MP Michael Wood is taking on the new portfolio. The senior minister was previously an Auckland Council local board member, and is the husband of an Auckland councillor. Auckland Business Chamber Chief Executive and former National Leader Simon Bridges told Mike Hoski...

Airlines will working to clear the backlog at Auckland Airport as quickly as possible. Air New Zealand Chief Customer and Sales Officer Leanne Geraghty told Mike Hosking the national carrier is making good progress. “What we have moved to now is actually the second layer of the response which is to bring people forward onto new flights.” LISTEN ABOVE See omnystudio.com/listener for privacy informa...

New figures out this morning will reveal just how much the tight job market is driving inflation pressure in the economy. The latest official unemployment rate is being released at 10.45am. Some economists expect the rate to dip back down to a record low, with wage growth continuing to accelerate. But Westpac Acting Chief Economist Michael Gordon told Kate Hawkesby he expects the unemployment rate...

Brace for turn-around in the labour market. Stats NZ is due reveal announce the latest official unemployment rate later this morning. Some economists expect it remain unchanged, while some expect to it drop to a new record low. But ANZ Economist Finn Robinson told Mike Hosking it won't necessarily reflect what will happen over the coming year. He says there will likely be a softening of the labour...

Wellington-based software firm Hnry has managed to secure a $35 million investment and plans to expand. Hnry is designed to help the self-employed manage their accounts, and the start-up plans to widen their services and hire more staff following the substantial investment.  BusinessDesk managing editor Pattrick Smellie says this is an impressive investment for a start-up this size to secure, espe...

How does a glass of wine with a side of altitude sound? Kiwi wine company Invivo are offering a chartered wine flight from Auckland to Queenstown. While in the air, guests will enjoy a tasting onboard before the decent into Queenstown where they will go on a vineyard tour, setting passengers back $1,149 per person. Invivo founder Tim Lightbourne joined Mike Hosking. LISTEN ABOVE   See omnystudio.c...

Just as building supply demand was heading back towards normal, more than 9000 insurance claims have now been made following the Auckland flooding, a large proportion of which will be for building repairs. The building sector is already stretched and there are concerns as to whether we have capacity to handle more. Chairperson of the Combined Building Supplies co-op Carl Taylor joined Mike Hosking...

Auckland was lashed with heavy rain and subsequent floods last Friday and is forecast to receive further heavy rain in the coming days. The extreme weather has resulted in hundreds of thousands of dollars worth of property and inventory being destroyed, and many Auckland businesses will be closing their doors until further notice. NZME business commentator Fran O'Sullivan says that no one expected...

Controversial plans to build a new airport in Central Otago is coming under further scrutiny. Eleven academics have penned an open latter against Christchurch Airport's plans to build an international airport on 750 hectares in Tarras. They've joined the growing opposition from local residents. Otago University tourism expert James Higham who brought the academics together told Tim Dower the airpo...

Divided opinion, over whether the Government should be increasing the minimum wage. The number of people seeking help for financial hardship has been surging, as inflation remains at historic highs. First Union's Edward Millar told Tim Dower now is the time to raise the minimum wage up to the level of the living wage. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Divided opinion, over whether the Government should be increasing the minimum wage. The number of people seeking help for financial hardship has been surging, as inflation remains at historic highs. First Union's Edward Millar told Tim Dower now is the time to raise the minimum wage up to the level of the living wage. However, National says increasing the minimum wage would add to inflationary pre...

A warning that increasing the minimum wage could make inflation even worse. The number of people seeking help because of financial hardship is on the rise, as inflation continues to remain at historically high levels. But National says any increase to the minimum wage is the wrong move right now, as it will increase inflationary pressure. Employers and Manufacturers Association Chief Executive Bre...

High praise for our new Prime Minister from the head of largest our bank. Chris Hipkins has been meeting with business leaders in Auckland, on his first full day on the job. The leaders have outlined their concerns about economic uncertainty, worker shortages, and controversial Government projects. ANZ Chief Executive Antonia Watson told Tim Dower there was a detailed discussion about immigration...

New Zealand's food and fibre sectors hope to find out what they can expect from new Prime Minister Chris Hipkins. Leaders from those sectors are unaware about what the new PM can offer them, with Federated Farmers president Andrew Hoggard saying that Hipkins wasn't part of the ministerial team meeting with them. The Country's Jamie Mackay says that farmers have a lot of pressing issues Chris Hipki...

Auckland Business Chamber CEO Simon Bridges is confident Prime Minister Chris Hipkins will make positive changes to our business sector. The two of them met in Auckland after Bridges organised a roundtable meeting with business leaders across the region. NZ Herald business editor Liam Dann is less confident about what Chris Hipkins can do for the economy. Liam Dann says Chris Hipkins could make ch...

Prime Minister Chris Hipkins began his first full day on the job by meeting with members of the Auckland business community. Hipkins attended a gathering in Auckland Central, where he spoke to a set of business leaders to address their current concerns. Barry Soper, ZB's senior political correspondent says that business owners were primarily concerned with the labour shortage, with restaurants and...

Now, here's an idea to encourage a bit of entrepreneurial spark among young New Zealanders. Ōtaki Market is looking to encourage children to set up their own stalls. Second hand toys, personalized t-shirts, bookmarks and whatever else they can come up with. Market organiser Claire Roper joined Tim Dower. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

New Zealand's red meat industry has released a policy change wish-list with the goal to tackle labour shortages and grow export revenues. They have gone to every Member of Parliament, and various others. Beef and Lamb NZ Chair Andrew Morrison joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Finance Minister Grant Robertson believes inflation is now past its peak. Stats NZ figures show consumer prices have risen 7.2 percent in the year to December, the same increase recorded in the year to September. The price of housing, household utilities and food are driving the historically high inflation rate. But Robertson told Tim Dower with prices increasing 1.4 percent in the December quarte...

Some are suggesting kiwifruit growers being hard done by. Zespri has pulled pin on its February payment to growers due to higher costs from last season. Chief grower Carol Ward says it's down to fruit quality. But Seeka says growers shouldn't be taking the brunt of it. CEO Michael Franks joined Early Edition. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

It's going to get a little bit cheaper to put fruit and vegetables on the table. The price of fruit and vegetables rose 23 percent last year, one of the main contributors to the 7.2 percent rise in overall consumer prices. Growers expect seasonal produce prices to start dropping, as supplies pick up in the coming weeks. Foodstuffs North Island’s Brigit Corson told Tim Dower how much you save at th...

New Prime Minister Chris Hipkins heads to Auckland today to woo business leaders after spending his first full day in the top job responding to the cost of living crisis. Hipkins is due to attend a roundtable event hosted by the Auckland Business Chamber. “I’ll be there to ask questions of them and to listen to them, in order to accelerate the important relationship that’s needed between business...