Best of Business

It could soon be a little big cheaper to fill up the fruit bowl and vegetable drawer. Latest figures show fruit and vegetable prices are 23 percent higher than they were a year ago, contributing to a 7.2 percent rise in overall consumer prices. But growers are optimistic seasonal fruit and vegetable prices could drop, and supply could increase, in the coming weeks. Vegetables New Zealand Chair Joh...

Today's CPI update shows inflation holding steady at 7.2 percent, undercutting earlier predictions. The markets have noticed that the figures were lower than predicted, leading to interest rates moving lower following the announcement. Milford Asset Management's Katlyn Parker says that at the end of the day, inflation is still running too high and if the CPI figures stay elevated for a long enough...

The Reserve Bank is set to make their next OCR announcement in a month, and predictions say it'll make a 75 basis point hike. This will take the OCR to 5 percent, but economists are wondering if that will be the ceiling for rate hikes.  HSBC Chief Economist Paul Bloxham speculates that this upcoming rate hike may be the last one we're faced with for a while because the economy is already starting...

Incoming Prime Minister Chris Hipkins has made the business sector and the economy the focus of his Government. His first address promised to handle the inflation 'pandemic', and he plans on meeting with Auckland business leaders on Thursday after he's been sworn in. EMA Chief Executive Brett O'Riley says Chris Hipkins need to understand the cost impacts of Government policies at a time where marg...

Today on the Huddle: David Farrar, Kiwiblog writer and Curia pollster and Kaine Thompson, former Labour Press Secretary joined in on a discussion about the following issues of the day- and more! Were Chris Luxon's comments on co-governance at Rātana appropriate? Is today the right time for National to be transparent about their stance on co-governance? Do you think farmers will listen to Fonterra'...

Rocket Lab founder Peter Beck says the best thing local startups can do is get out of New Zealand- for a while. According to Beck, it's important for Kiwi entrepreneurs to get global context and that the nation's infamous 'tall poppy syndrome' problem can hold founders back when it comes to success.   Peter Beck says it's important for entrepreneurs to see if their idea is world-class by taking it...

Incoming Prime Minister Chris Hipkins has promised to re-prioritise the focus of Labour to reflect the current concerns of New Zealand voters. Hipkins has stated he plans to rein in some Government programs that are less "essential" right now and address the issues surrounding the economy, business owners, and the cost of living. NZME business commentator Fran O'Sullivan says that it will be hard...

We have another New Zealand business superstar. Brianne West’s beauty and lifestyle company Ethique is on a roll, to put it mildly. They have eliminated more than 25 million plastic containers worldwide, creating concentrated beauty bars that are good for the planet and the user. Brianne's been featured in Forbes, has a fan in Britney Spears and is even immortalised as a Barbie doll. Brianne West...

This one takes the biscuit. The New Zealand delicacy Cookie Time has found a receptive new market in Japan. Just two days after the product hit Costco shelves there, an immediate re-order came in for four times the original amount. Exports are the big goal for the company this year, with a target of growing from 14 markets now, to 25. Managing Director Guy Pope-Mayell joined Tim Dower. LISTEN ABOV...

Anxiety across the economy, about the business year ahead. New figures from NZIER show business confidence has plunged to its lowest level since records began more than half a century ago. Almost three quarters of businesses expect economic conditions to worsen in the coming months. BusinessNZ chief executive Kirk Hope Tim Dower inflation and rising interest rates are taking their toll on consumer...

New robot technology may be the answer to catching exotic diseases in animals. A new machine will improve the testing and accuracy for diseases such as foot and mouth disease or M bovis. It can test up to seven thousand samples per day for antibodies,  and prevent the need for manual testers to catch and ring fence a potential outbreak. MPI Animal Laboratory Manager Joseph O'Keefe told Tim Dower i...

Breweries are being forced to get creative and spend big money to survive a crippling nationwide shortage of liquid carbon dioxide. Since the end of refining at Marsden Point last year, the Kapuni carbon dioxide plant has been supplying the gas. However, it's shut indefinitely for maintenance. Co-Founder of small Wellington brewery Garage Project, Jos Ruffell told Tim Dower beer production relies...

A pedestrian crossing in Wellington has come with a $2.4million price tag. Around $500,000 of that has gone on consultants for the crossing on Cobham Drive. It's part of the Let's Get Wellington Moving initiative. Chief Executive of Business Central and the Wellington Chamber of Commerce Simon Arcus joined Tim Dower. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Cruise ships are being turned away from New Zealand waters, for not being clean enough on the outside. Ships with algae and barnacles on the hull are being told to clean their bottoms or stay out of pristine parts of the country. But the knock-on effect is hitting some land-based operators hard. Owner of Horizon Tours Kylie Ruwhiu-Karawana joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener...

Pre-loved clothing business Designer Wardrobe has had to revamp their strategy to renting and selling clothes to Kiwis. Designer Wardrobe was forced to close all their physical locations by the end of 2021 due to Covid uncertainty, and the business has been operating completely online for over a year. The Covid-19 pandemic presented a fair amount of challenges for the company, but consumers are st...

A new tool called 'Rewind' has been developed for the latest generation of Macs which effectively stores everything you've ever displayed on your screen. It can also record your Zoom meetings and transcribe them, aiming to give you a search engine for your life.   None of this information ever leaves your laptop, so there is nothing in the cloud. Their big breakthrough is the crazy compression the...

Job ads have seen a slight fall from record highs in the first half of the year. But SEEK's annual job market report shows demand is still strong across all sectors...and employers are trying new ways to attract applicants. Sign-on bonuses and highlighting their work from home flexibility,  are among the treats being handed out. SEEK Country Manager Rob Clark told Tim Dower there's a tight labour...

The Finance Minister says he's tried to create an environment where businesses can flourish. The quarter three GDP figure exceeded many economists' predictions by rising two percent. New Zealand's growth trumped that of the UK, US, EU and Australia. Grant Robertson singled out construction as something he was particularly proud of. He told Tim Dower he feels while the Government can't control exac...

The National Party says there are big challenges in our economy despite a quarter three GDP boom. New Zealand's GDP increased two percent in the three months to September. That was much higher than most economists predicted and a bigger jump than the UK, the US, Australia and the EU. National's Finance spokesperson Nicola Willis told Roman Travers everyone wants businesses to grow, but not everyon...

Fears a positive economic result could yield a negative one down the track. Our GDP grew two percent in the three months to September, blowing most economist predictions out of the water. But former Reserve Bank economist Michael Reddell says he's suspicious of the result and wonders if it will be revised to a lower rate. He told Tim Dower it could be a problem next year. Reddell says it will incr...

Auckland councillors have voted to send mayor budget proposals out to public consultation. But not without a flurry, after Wayne Brown said Auckland Airport would be seeking cash for a new domestic terminal. That caused a temporary halt in Airport share trading. Auckland Councillor Alf Filipaina joined Tim Dower to discuss. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fresh GDP data shows solid economic growth. The New Zealand economy grew 2.0 per cent in the September quarter, greatly surpassing expectations. Economists had expected just 0.9 per cent in the quarter. Services industries were up 2.0 percent and led the charge. NZ Herald Business Editor at Large, Liam Dann, joined Kerre Woodham. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

As has been much discussed over the last 24 hours, the days of cheaper fuel and transport are coming to an end. Transporting New Zealand says the Government’s announcement is a kick in the guts for the transport industry. Transporting New Zealand Chief Executive Nick Leggett joined Kerre Woodham. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Big numbers are expected at Auckland Airport this Christmas season. 50,000 people will be flying in and out of the country across December 23 and Christmas Eve. It's a far different picture than last year, when fewer than 3,000 people came and went over those two days. CEO Carrie Hurihanganui told Tim Dower a lot of work has been done to make sure everything goes smoothly. LISTEN ABOVE   See omnys...

Kiwis are set for more pain at the pump next year. The Government is extending its 25 cent a litre petrol tax cuts to February 28, before then phasing them out entirely by the end of March. Gull NZ General Manager Dave Bodger told Tim Dower once you add GST it's actually 29 cents a litre, which impacts the back wallet. LISTEN ABOVE   See omnystudio.com/listener for privacy information.