Best of Business

Small businesses are still finding it hard to fill vacancies. A snapshot from MYOB shows 59 percent of SMEs have increased their wages, but a third are still struggling to find workers. Questions are being asked as to who fills the gaps. Doug Jarvis owns two butchers stores in Tauranga, and is having to work seven days a week, just to keep things operating. Doug joined Kate Hawkesby. LISTEN ABOVE...

Some positive signs for consumer confidence. Economist Tony Alexander has been polling New Zealanders on whether they're planning to cut down how much they're buying. Last month, 27 percent of people said they were planning to do so. Alexander told Mike Hosking this month, only 18 percent are looking to cut back. “Maybe we’ve past the worst speed of decline in many things; it doesn’t mean there’s...

Insurance giant Suncorp, who own AA insurance, have had their profits slip 23 percenet in the financial year, despite an increase in premiums paid. They owe it to inflation but also the multiple extreme weather events, that seem to happen more often. Therefore they're warning insurance holders, they may see an increase in their premium prices. Katrina Shanks, chief executive of Financial Advice jo...

Yummy Fruit Company General Manager, Paul Paynter joined Heather du Plessis-Allan to discuss Nationals' new welfare and youth employment policy. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Your weekly grocery shop isn't likely to get cheaper any time soon. New analysis from Infometrics and Foodstuffs shows the prices supplies charge supermarkets has increased nearly eight-percent in the past year. The increases are being passed on to consumers. Infometrics Principal Economist Brad Olsen told Kate Hawkesby the increase follows minimal rises over previous years. He says throughout 201...

The head of a major employer is welcoming National's "tailored approach" to getting young people into work. National's unveiled a new plan to get under-25s off the Jobseeker benefit. Under the plan, young beneficiaries would get a job coach and a financial bonus for getting and staying in work, and those who refuse to take part would be penalised. Beca Group Chief Executive Greg Lowe told Mike Hos...

Bad weather, rising fuel costs, and staff shortages are all pushing up the price you're paying at the checkout. New analysis by Infometrics and Foodstuffs shows the prices being charged by suppliers has increased nearly eight-percent in the past year. Those costs are the major driver to the rising grocery prices being faced by consumers. Vegetables New Zealand chair John Murphy told Mike Hosking g...

A big payday for tech entrepreneur Sir Peter Maire. His company Invenco, an EFTPOS systems company, has been sold to an overseas buyer for $127 million.  It's also part-owned by interests associated with NBR Lister Greg Tomlinson. Business commentator Rod Oram joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Brian Tamaki, as we know, is planning another protest tomorrow which starts in the Auckland Domain. Protests that start there generally have a tendency to spill over into Newmarket. This especially angers the local business association. Newmarket Business Association CEO Mark Knoff-Thomas joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The critical part missed yesterday in the great National tax scandal debate is not whether tax cuts are inflationary; it's the right of people to hold onto their money. You can also add it was a storm in a tea cup, given it's not election year. Until it is, opposition parties shouldn't really be in the business of announcing policy because not all of us are engaged. So, here’s some simple economic...

There are warnings our main export season could be hit by further supply chain disruptions. We all know the issues in recent months, but a new supply chain risk analytics report from Massey University says a perfect storm of factors could hit our summer season. It's due to China's recent lockdowns, which are only expected to happen more frequently during their winter, the war in Ukraine pumping up...

Despite significant cost of living increases impacting retail, Briscoes have posted a strong second quarter result. Sales for the second quarter rose 3.5 percent to almost $192 million with homeware and sporting goods the strongest performers. It's boosted their first half sales after a less than ideal first quarter, with first half sales up 2.7 percent to almost $370 million. Chief Financial Offi...

Increasing competition in the building supplies sector won't necessarily result in cheaper homes. A new Commerce Commission draft report has found there isn't enough competition in the sector, and it's too difficult to get innovative products to market. Registered Master Builders Association chief executive David Kelly says we need to look more broadly. He told Mike Hosking regulatory barriers are...

Another wave of supply chain disruptions is predicted this coming summer, just as exports are due to peak. Massey University’s mid-year risk outlook highlights a bunch of factors converging. Ant Boyles chairs the New Zealand Council of Cargo Owners and joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Regulatory changes may be needed to bring more competition to the building supplies sector. A Commerce Commission draft report into the building product sector has found competition in the market isn't working as well as it should be. The watchdog has found it's too difficult to get innovative products to market, and established players are blocking land use by their competitors. Building Industry...

Sighs of relief in some quarters after the Commerce Commission report on building supplies came out. ComCom says competition isn't working as well as it could in the sector and a lot of people in the industry said…er...tell us something we didn't know. ComCom also raised the issue of rebates; big volume buyers get a better discount, but is there anything too surprising about that? If you were a bi...

With the price of food the way it is, lest we forget we are in a ‘cost of living crisis’, I have become hyper-alert at the supermarket these days in terms of what I’m paying. And it seems I’m not the only one. Headlines these days say shoppers are fed up and looking to go elsewhere than a supermarket. It used to be, back in the good old days, that the supermarket was the best deal for food. You’d...

The Council of Trade Unions says more needs to be done to protect low income workers. The latest wage figures show inflation has increased, but the union says pay isn't being matched. Meanwhile, despite forecasts, unemployment has slightly risen. Union economist Craig Renney joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Does a rise in unemployment mean Adrian Orr had a good day? Did he say to himself the rate rises are working, this thing might not be as big a cluster as we had imagined. Or, did he look at those wage increases and freak out and think, ‘My god the cash rate can’t top out at 3.9’? Explain to me how there are more unemployed people, how did that happen? How can you not have a job when there are jobs...

Questions have been asked as to how hard is Immigration NZ making it to get accredited employers work visas across the line. Sean Wood is a carpenter in Tauranga and recently has been travelling the world in search of skilled workers to come work for him. He got his accreditation to hire on May 31st and applied for the INZ job checks for a number of workers on June 20th. These job checks are suppo...

Insurers say the Government's new strategy for adapting to climate change is a positive start. The new framework outlines priorities for the next six years, with some coastal homes likely to be abandoned due to sea level rise. However, it's still unclear who's likely to foot the bill for the transition. Insurance Council Chief Executive Tim Grafton told Mike Hosking the strategy has a lot of good...

The reopening of international borders won't be enough to address the worker shortage and rising cost of living. Unemployment has reached 3.3 percent in the June quarter up only slightly from the record low 3.2 percent of the previous two quarters. Overall wages have risen 3.4 percent in the year to June, well below the inflation rate of 7.3 percent. ANZ Chief Economist Sharon Zollner told Mike Ho...

A mortgage broker is dismissing changes to new lending rules as too little, too late. The Government is further tweaking consumer lending regulations, after earlier changes blocked some borrowers from getting loans. Three changes are planned, including narrowing the expenses lenders have to take into account. But mortgage broker Sue Tierney told Kate Hawkesby it's not good enough. She says they're...

The Ggovernment's cost of living sop, cock up, circus, or whatever you want to call it, now has the potential to turn into a real political crisis. Issue one; they knew those offshore would get the money. So, money was going to people that weren't in the country, which was one of the Government's key criteria. Issue two; their excuse was it was too hard to do it any other way. Issue three; it adde...

Today could see another historic milestone for the New Zealand economy. Unemployment is expected to fall from its current level of 3.2 percent, which is already the lowest since records began. ANZ is picking a figure as low as 2.8 percent. Eric Crampton, Chief Economist at the New Zealand Initiative, told Mike Hosking the economic situation is becoming more precarious. “In the current circumstance...