Best of Business

Kiwisaver funds seem to be doing well, despite increasingly nervous times. According to the Financial Markets Authority, managed Kiwisaver funds have grown by 10 percent in the year to March. Simplicity Managing Director Sam Stubbs told Roman Travers it shows the industry is still growing and people are still saving. He says, if the product does well in tough times like this, it gives people confi...

We got the Warehouse Group's financial results today. Frances Sweetman from Milford Asset Management joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A tax specialist says the likely GST on contributions to the Government's proposed unemployment scheme, is just a matter of consistency. The scheme will pay New Zealanders who lose their job, 80 per cent of their former income for up to seven months. Official Information Act papers show officials recommend against allowing employees to claim a deduction on the GST paid on levies. National says it'...

New Zealand’s brand value shot up 13% from 2021, according to global rankings released overnight. Brand Finance Nation brands valued New Zealand’s national brand at US$248 billion in 2022, an increase of US$29 billion on the prior year. The annual Nation Brands Report is a study into the world’s top 100 nation brands ranked by their value and strength. It has been providing key benchmarks for dipl...

Massey University recently re-did its survey of what people of different lifestyles spend in retirement with the numbers shocking some - and yet we still put off preparing because it’s scary, because other things take precedence for example. LISTEN ABOVE See omnystudio.com/listener for privacy information.

We officially have a national wine centre. It was opened yesterday in Blenheim by the Government after funding for the Marlborough Research Centre was announced back in 2020. Questions have been asked as to what will this centre do and how it help our incredibly successful industry go to the next level. The boss Gerald Hope joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy...

More than 600,000 passengers are expected to go through Auckland Airport these schools holidays; it's busiest in three years. Two airline powerhouses, United Airlines and American Airlines, are also making their grand return, along with Air New Zealand's Chicago non-stop connection. More than 40,000 people are expected in-and-out of the airport daily, a 70 percent recovery from 2019. Auckland Airp...

Some are suggesting we may be seeing some initial signs of recovery in the small business sector. Xero's Small Business Index for August shows sales were up more than 27 percent year on year, admittedly last year in August was heavily Covid affected. But if you compare it to August 2020 growth is still up 10.4 percent, with a big increase on the July numbers too. Xero New Zealand Country Manager B...

Our latest monthly job numbers are out today. Infometrics say businesses are starting to turn to youth and older workers to fill the gaps in the workforce. Brad Olsen, Infometrics principal economist has been looking into this for us. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A wine grower says more seasonal workers shows the Government is listening to the industry's concerns. It's increased the Recognised Seasonal Employer scheme by 3,000 more workers this year - the biggest increase in a decade. The Government's also requiring employers provide the workers sick leave. Wine Growers Chief Executive Philip Gregan told Kate Hawkesby it won't solve labour issues, but will...

The Immigration Minister says the Government is responding to horticulture industry needs. The Government's increased the Regional Seasonal Employer scheme cap by 3,000 places. Employers will be able to access 19,000 workers each year from participating Pacific countries. It's also requiring employers to provide the workers with sick leave. Minister Michael Wood told Mike Hosking the figure is bas...

Costco Auckland has just begun its grand opening. Hundreds of bargain-hunters in Westgate, with some flying across the country to be the among first to experience the chain's first NZ store. New Zealand Managing Director, Patrick Noone told Mike Hosking says there's potential for branches in Christchurch and Wellington down the track. “And perhaps another one in Auckland in the future as well. For...

One Kiwi company has secured exclusive shelf space. Everblue is the only New Zealand-made haircare brand to be stocked, despite launching just over a year ago. Chief Operating Officer, Renee Lee told Kate Hawkesby going in with a strong pitch was key. “They don’t want heaps of different brands playing in the same space, they want to find the absolute best brand and get the absolute best deal for t...

Air New Zealand’s marathon direct flight to New York is struggling to take off. On Sunday, returning passengers were asked to volunteer to miss their overweight flight. While days earlier travellers narrowly avoided a stop in Fiji to refuel due to weather issues. Air NZ Chief Flight Operations and Safety officer David Morgan joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy...

Employers are getting creative as they fight to attract workers in our tight job market. Flexi-work, work-from-home, sign-on bonuses, extra weeks holidays are all on offer as companies scramble to fill job vacancies. Restaurateur Michele Passarello, owner of Paraparaumu based restaurant Passo has gone one step above, offering not only free accommodation and increased wages but a shared profit sche...

New Zealand won't be completely sheltered from the latest volatility in international markets. World sharemarkets have been taking a tumble over the weekend. The pound has reached its lowest level against the US dollar, the Euro has touched a fresh 20-year low, and Asia-Pacific currencies have also been weakening. Mark Lister from Craigs Investment Partners told Mike Hosking New Zealand won't be c...

The Mood of the Boardroom, which is out in the Herald today, is in some respects, the Government's day of reckoning. You might recall a few years back when the Prime Minister was all shiny and new, too many people had fallen for the superficial charm that she said she was going to work with business, and she was going to listen to business. When that turned out not to be true, she set up a busines...

Hopefully some good news is on the way for our viticulture industry. A member’s bill was pulled out of the biscuit tin yesterday that would help streamline the process required for wineries to sell samples. As it currently stands, small wineries have to secure a separate 'on-licence' to that of their 'off-licence' in order to sell wine samples, which requires added costs such as providing a food s...

For those looking for a job, McDonald’s might just have the answer for you. Tomorrow the fast-food chain is holding walk in interviews at its restaurants with 2000 jobs up for grabs. McDonald’s New Zealand Managing Director Kylie Freeland joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are some new changes coming in the streaming world, with Sky revealing they're set to launch their new box before Christmas at the cost of $200. The new box will allow customers to stream in 4k, record five channels at once, hold 1 terabyte of storage and will incorporate all the major streaming apps such as Netflix and Amazon. Sophie Maloney is Sky Television's CEO and joined Mike Hosking....

Pressure is mounting on the Government, to come up with a better plan for the tough economic times. In the latest annual Herald Mood of the Boardroom Survey, chief executives rate Jacinda Ardern just 1.61 for building confidence with the business community. Optimism in the global economy is at 1.83 out of five, down from 3.15 out of five last year. Employers and Manufacturers Association Chief Exe...

Business leaders feel the Government isn't listening. The NZ Herald's annual Mood of the Boardroom survey has found chief executives and senior directors' confidence in the Government's leadership in falling. They have scored Jacinda Ardern just 1.61 out of five when it comes to building confidence with the business community. Business NZ Chief Executive Kirk Hope told Kate Hawkesby the Government...

Some are suggesting there is a likelihood that inflation is going to be a problem for longer than we expect. Mark Riggall from Milford Asset Management joined Heather du Plessis-Allan to discuss. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Thousands of much-needed Pacific labourers can now return to New Zealand, to work. Immigration Minister Michael Wood has announced the re-opening of visa registrations from the Pacific. Registrations for the Samoan quota will reopen on October 3, and for the Pacific Access Category from October 5. Immigration consultant Kay Armstrong told Mike Hosking it's a big deal. She says it will be a welcome...

A property expert says banks are aiding and abetting housing speculation and thereby contributing to the housing crisis. Auckland University's Dr Michael Rehm says when it comes to speculation, banks take a more relaxed view towards lending to residential property investors than commercial buyers. And he says the banks are benefiting from that. Rehm says compared to countries like the United State...