Best of Business

Genesis Energy says fresh Crown investment into the power generator will go towards building infrastructure.  The Government's confirmed it will put up to $200 million dollars - letting it retain its 51 percent shareholding, as Genesis launches a capital raise. Chief executive Malcolm Johns says the money will speed up its ability to build. "We're gonna build some solar farms, some grid-scale...

Business appears to be booming in most parts of the country. ABC's quarterly market report shows business sales are up 28 percent on this time last year, with average prices up three percent. It finds 507 completed sales over a 12 month period - a new historical high. ABS Business Managing Director Chris Small told Mike Hosking that there's a link between sales and the current state of the economy...

On Saturday Donald Trump announced a 10% levy on all goods coming into the US in response to the Supreme Court ruling his other tariffs unconstitutional. The new global tariffs were updated to 15% on Sunday. Economist Cameron Bagrie joined Tim Beveridge to talk about the implications for kiwi businesses.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

US President Donald Trump is pushing ahead with another round of global tariffs, just a day after being told last year’s levies were illegal. In a post on social media, Trump confirmed he’ll lift the tariffs to 15 percent, higher than the 10 percent rate he announced yesterday. The move comes after a Supreme Court ruling found his sweeping trade measures from last year were unlawful. Former US Und...

Confidence green pastures lie ahead for Fonterra, as the sale of brands like Anchor and Mainland nears completion. Almost 99 percent of shareholders voted today to get the tax-free $3.2 billion capital return, from the purchase by French company Lactalis. FedFarmers Dairy Chair, Karl Dean, says the sale is part of Fonterra's move to focus on ingredients. The Country's Jamie Mackay explained furthe...

Auckland Airport says it's gaining momentum. It's reported a four percent increase in revenue in its half-yearly results.  The airport says that lift in revenue is being driven by a two percent increase in passenger numbers to 9.6 million. Chief Executive Carrie Hurihanganui says there's still more work to do - since numbers still haven't caught up to pre-pandemic levels.  LISTEN ABOVE S...

Less confusion over a drink at the local club, as options increase for serving alcohol.  Currently, local sport clubs, RSAs and community clubs can only serve alcohol to members and their guests. The Government's today announced clubs can now choose to stick with their current license or apply to serve the wider public - like a restaurant or bar. Clubs NZ CEO, Lucy Waterreus, says many people...

The new Reserve Bank Governor is standing by the first OCR decision she's overseen - keeping the cash rate at 2.25 percent. Anna Breman said the Bank isn't happy with inflation being at 3.1 percent, but it's likely it will drop later in the year. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

An improving financial situation for one of our largest companies, Fletcher Building. It's announced half-year results, weeks after agreeing to sell off its construction arm. The company's confirmed a half-year loss of $11 million - compared to a loss of $134 million in the year before. Milford Asset Management's Jeremy Hutton unpacked the reactions. LISTEN ABOVE See omnystudio.com/listener for pr...

Telecommunications company Spark's mobile and broadband businesses delivered some revenue growth over the first half, contributing to an 83 percent increase in net profit. The company is reporting a net profit after tax of $64 million, compared with $35 million from a year ago.  Spark CEO Jolie Hodson says the company's still recovering, but there's clear signs things could go up. LISTEN ABOV...

We’ve had the first monetary policy decision from the new Reserve Bank Governor, and it’s not until you get a new captain at the helm that you realise just how little confidence you had left in the previous one. Now, to be fair, it’s early days for Anna Breman. We’ll judge her by what she does from here on in. But she does start with a clean slate - without us reading too much into her decisions o...

Fletcher Building says it's not out of the woods yet, but their financial situation is improving. It recorded an $11 million half-year loss  - down from $134 million the year before. Earnings are out of the red at $45 million, compared to $-88 million the year before. Chief executive Andrew Reding says they'll take a while to get back on track.   "We're not forecasting great times for ou...

The Reserve Bank says inflation's too high, but it's actually worried it could soon end up too low. It's kept the OCR unchanged at 2.25 percent. New Governor Anna Breman says they're not happy with headline inflation surpassing the one-to-three percent target band last quarter. But she says underlying core-inflation is much lower, and wage growth slow. She explained that unless the economy rebound...

Six companies linked to the former Duchess of York, Sarah Ferguson, are being wound down, according to new reports. One company is related to public relations, another to retail, and none appeared to be commercially active. UK correspondent Enda Brady says Ferguson was desperate for money, even emailing Epstein for help while he was in prison.  LISTEN ABOVE See omnystudio.com/listener for pri...

New Zealand's not getting good bang for its infrastructure buck, according to some. The Infrastructure Commission has released a 30-year plan with 16 recommendations, and 10 top priorities for the next decade - including health spending.  Infrastructure Commission chief executive Geoff Cooper says we rank high on spending in the OECD, but our outcomes are in the bottom 10 percent. He says New...

The business events sector's working to bump up our international multi-day conferences, which are currently lagging behind domestic bookings.  A Business Events Industry Aotearoa report shows events contributed $925 million to the economy last year.   Multi-day conferences generated approximately 1.5-million visitor nights for accommodation, nationwide.  BusinessNZ Advocacy Directo...

New housing data shows the market hasn't quite matched the mood of the economy as of yet. The Real Estate Institute of New Zealand says housing sales are down 5.4 percent from January last year. Prices were also softer, with REINZ's House Price Index dropping 0.6 percent compared to December.  Property Investors Federation expert Matt Ball says it looks like the housing market will stay flat...

Labour has raised some concerns over the FTA with India, but Finance Minister Nicola Willis is pushing back. The opposition says they want the un-redacted advice about the deal and greater protection for migrant workers.  Nicola Willis says there's strong aspirations in the agreement to promote investment. "What it's saying is - let's both agree to promote significant levels of investment in...

More evidence of an improving economy, based on the amount of freight hitting our roads. Freight company Freightways is reporting a 17 percent rise in half-year profit. Chief executive Mark Troughear says they're starting to see optimism return, slowly and steadily. "It's a good result, and that's a bit of market share gains - Australia is going really well for us. But in New Zealand, you're just...

Airbnb rates in Christchurch have fallen for the first time in five years, as hosts flood the market before the new stadium opens. The Press reports average short-term rental income dropped to $105 a night last year - down $2 annually. Construction market analyst Mike Blackburn says multi-unit builds are dominating the city, with some apartments just 39 square metres with no carpark. "These are un...

The Prime Minister says Labour's concerns with the India Free Trade Agreement is "politicking", and Chris Hipkins wanting attention.  Labour's saying they want the un-redacted advice about the deal and greater protection for migrant workers.  In a letter to Chris Luxon, Chris Hipkins wants more clarity about the clause which requires New Zealand business to invest $33billion into India.&...

Greg Foran is back where I suspect he belongs, and likes. The former Air New Zealand boss, if you have missed it, is off to Kroger, which is America's second biggest grocer behind Walmart. I have never met a New Zealander who has worked in America that belongs in America more. It was evident from the first time I met him that he was American. You can spot them in their shirts and ties. They are co...

March 6th is your day. This is the date that the changes to foreign buyers of expensive houses comes into play. This date, in a way, is like the LNG announcement. The idea of foreign buyers for houses isn't new. It's been part of the Government's plan ever since the Government became the Government. The LNG idea got floated in the winter of 2024, not long after the Government became the Government...

An industry expert says it's not practical to regulate blind cords.  A coroner's released a report on the death of three-year-old Tilly Cambie in 2023, after a cord tangled around her neck. She's one of several children to die that way since 2009.  They recommend mandatory blind standards - which the Government's ruled out.  Window Treatments chief executive Graeme Rose says blanket...

A lot of the country's small businesses are feeling the end of financial year sting. Data from Xero shows 75 percent of the New Zealand small business owners surveyed say the current financial year has been more stressful than past years. Nearly half had considered giving up their business due to stress, with 67 percent citing financial management as their main worry. Xero Country Manager Bridget...