Best of Business

Propopoly is a startup that aims to give everyday New Zealanders a chance to enjoy the benefits of being a property developer. The business allows people to buy shares in a property development and get a payout when those properties are sold. Founder Dehardt van der Merwe explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

GrabOne is getting a second life under brand new owners.  Wellington's Paradigm Group has bought the GrabOne brand and assets. It went into liquidation last October, leaving many consumers with vouchers they couldn't use.  The new boss Paul Raeburn says they're bringing back half a dozen key GrabOne employees. He says they're energised to get the platform back to what it was.  "I st...

The conflict in the Middle East continues to rage on, and there's concerns about what it could mean for the Australian economy. The US and Israel have struck more than 1200 Iranian targets, with plans to ramp up the bombardment in coming hours, and Iran has launched more strikes and choked oil tanker transit through the Strait of Hormuz. Australian correspondent Murray Olds says RBA governor Miche...

The recent conflict in the Middle East has sparked concerns about the wide-reaching implications for the global economy. The US and Israel launched strikes at Iran over the weekend, killing Ayatollah Khamenei - and Iran has since launched strikes from Tehran. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's concerns about what the ongoing conflict in the Middle East could do for oil prices and inflation. Iran's sent retaliation strikes across the Middle East after US and Israeli attacks killed their Supreme Leader, Ayatollah Ali Khamene. Infometrics Principal Economist Brad Olsen unpacked the short and long term concerns. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Foodstuffs is again trying to bring its North and South Island operations under one roof, after failing two years ago.  The company's heading to the High Court to appeal a 2024 Commerce Commission decision blocking its plan.  Grocery Action Group chair, Sue Chetwin, says letting it do so would only strengthen the duopoly.  She says upstream, suppliers would have less choice on whom...

Farmers say new KiwiSaver rules are a win for rural staff looking to buy property. Farm workers, rural teachers, police and defence personnel can now use KiwiSaver to buy their first home, or even a farm, due to the Government lifting a long-standing restriction. Previously, these workers were blocked because their jobs required living in employer-provided housing. Federated Farmers' Dairy Chair K...

Premium apple demand is at the core of a strong financial result for T&G Global. Its revenue has increased by 14% to $1.6 billion and its net profit after tax is $16 million, up from a loss of $9.9m. Global Chief Executive Gareth Edgecombe told Heather du Plessis-Allan that the Chinese and US markets in particular have been buying more of the premium Jazz, Jolie and Envy apples. LISTEN ABOVE S...

It's looking to be a rough season for our meat processing sector, with companies struggling to compete with abundant grass and a turbo-charged store stock market. Some companies have dropped published lamb and beef schedules by 10c/kg, and the decline has prompted concerns.  The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

So David Seymour’s right about Air New Zealand - but he’s also wrong about Air New Zealand. Before we get to why, let me bring you up to speed on what’s happened with the airline today, because the news is not good. Air New Zealand has posted a half-year result showing a $59 million pre-tax loss, which is slightly worse than expected. And to be fair to Air New Zealand, a lot of this really isn’t t...

Sky TV says even though it's had a strong first-half financial year result - the television market remains challenging. It's reported a $52 million net profit, turning around a $1.7 million loss last period. Its revenue rose eight percent, to about $414 million. Sky TV chief executive Sophie Moloney says revenue for traditional TV was softer than expected. "The TV side does seem to be suffering a...

Women are continuing to lag significantly behind men when it comes to home ownership. Data from Cotality shows more than half of Gen Z men surveyed own their own home, while just a third of women do.  The disparity also exists amongst the millennial and Gen X age groups. Cotality Chief Property Economist Kelvin Davidson says it's not an attitude issue.   "Females actually rate property o...

Air New Zealand's assuring it's on track for economic stability. The national airline's announced a first-half before-tax loss of $59 million. CEO Nikhil Ravishankar says the result's driven by challenges from aircraft being grounded, a softer recovery than expected - and rising costs.  But he says they'll be well on the road to recovery over the next two to three years.  "One of the key...

New reports show alcohol consumption is at an all-time low, and there's concerns about what this could mean for the hospitality sector. Stats NZ figures show overall consumption dropped 8.3 percent, beer consumption fell 10 percent, wine was down 11 percent - with spirits rising by 1.3 percent. Sam MacKinnon from Hospitality NZ says it's likely rising costs are driving consumers away, but recent h...

New Zealand won't be going cashless anytime soon under the Reserve Bank's new proposal.  It wants to set up 1300 multi-bank hubs to provide full services free of charge. The plan ensures those in urban areas can walk to get cash - and the drive for those living rurally is reasonable.  NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVE See omnystudio.com...

AI firm Anthropic has made upgrades to their Claude model and it's sparked concerns about what this could mean for markets and jobs. Claude specialises in coding and technology, and IBM's stock recently took a hit - with experts citing the model as a reason. Milford Asset Management expert Andrew Curtayne explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A positive financial result has gentailer Meridian thinking about infrastructure upgrades.  It recorded a half year profit after tax of $227 million. Chief executive Mike Roan says they're considering increasing capacity at the Pukaki dam in the Mackenzie basin.  He says it's still early days though.  "The question that I've asked the team is - is it economic to do it? Does it actua...

A real estate agent says there isn't enough demand to meet the supply of townhouses. Newly constructed townhouses are sitting on the market so long that they no longer qualify as 'new builds'.  It means first-home buyers can't get low-deposit loans on the property.  Real Estate Agent Rawdon Christie says developers are shifting close to what the market wants.  "So rather than puttin...

The Reserve Bank's emphasising the importance of cash services being free-of-charge. It's proposed requiring the banking sector to provide accessible full-cash services across the country - at $104 million a year. The plan ensures those in urban areas can walk to get cash, and the drive for those living rurally is reasonable.  Money and Cash Director Ian Woolford says people don't expect to p...

Momentum's sky-high for state-owned farming enterprise Pāmu. Landcorp's half-year net operating profit jumped $28 million - from a $2 million loss in December 2024 to a $26 million profit last December.  It's forecasting a record full-year net operating profit of up to $107 million. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Media company NZME's remaining cautious about the economy despite a positive financial year. The owner of The Herald and Newstalk ZB reported a $13.1 million net after tax profit - turning around the previous year’s $16 million dollar loss. Its operating costs were four percent lower annually - reflecting the closure of community publications in December 2024. CEO Michael Boggs says it's a grind t...

The cost of living is hitting Kiwis hard, with new data showing Aucklanders are more likely to be worse off. More than a third of New Zealanders have a savings balance of less than $500, according to new data from Westpac. Westpac's Financial Wellbeing programme manager, Warren Ngan Woo, says Auckland is a big city where things cost more, which eats into people's ability to save money. "This is ju...

Mercury's achieved a strong return to profit.  BusinessDesk says the energy company's half year earnings before interest to December 31- reached $537 million. It recorded a net $20 million dollar profit - up from a $67 million loss last year.  Chief executive Stew Hamilton says they're doing well and don't need to raise capital.  "We've been disciplined in how we manage our money, h...

Comvita’s half-year result shows the company is seeing a noticeable financial turnaround. Its result for the six months ended December 31 had revenue up 18.3 percent to $118 million, EBIT up 10.7m to $10m, and debt reduced by $32.9m to $48.7m. Comvita CEO Karl Gradon says he's proud to see the company return to profitability and he's confident the company's been through the worst of it. LISTEN ABO...

The Remuneration Authority says more responsibility attracts more pay.  The Taxpayers' Union says Western Bay of Plenty District councillors are getting an average 57 percent pay increase. Authority Chair Geoff Summers says the pool of funding for council has been decided - but not individual raises.  He says the council will operate with two fewer councillors this term.  "And most...