Best of Business

We have a couple of trends in the small business sector that are performing stronger than a couple of international heavyweights. Xero has released their Small Business Index for May, revealing small business wages and jobs grew during the month. Wages were up 5.3 percent, the fastest pace since January 2017 while the number of jobs grew 4.1 percent. That's better than the likes of the UK and Aust...

We're past the halfway point of the year. So far, sharemarkets are predicting a major economic slowdown due to effects from Covid-19 and inflation rates. The first six months of this year is one of the worst starts in history for shares and bonds. Milford Asset Management portfolio manager Stephen Johnston joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy inform...

New analysis from Infometrics is pointing to higher levels of infrastructure investment over the next decade. $172 billion is expected to be invested by 2031. The money is expected to go into roading, electricity generation, and water systems in particular. Infometrics principal economist Brad Olsen joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

ASB and ANZ are both pausing their mortgage lending again for anyone who has less than a 20 percent deposit. Meanwhile, Westpac is now limiting availability. The three banks reckon they're coming up against the limits the Reserve Bank has set for them on the amount of high-risk lending they're allowed to do. NZ Herald Wellington Business Editor Jenée Tibshraeny joined Heather du Plessis-Allan. LIS...

Apprehension for a New Zealand-European Union trade deal don't bode well. The Prime Minister is heading to Brussels tomorrow after Nato meetings in Madrid, and will hold talks with EU trade negotiators. Despite discussions continuing for roughly four years, there's been no win yet. Democracy Project international analyst Geoffrey Miller told Heather du Plessis-Allan the rumours around the deal are...

Air New Zealand is making some big changes to its cabin. It's the airline's biggest cabin transformation in almost 20 years. The changes include set refurbishments in Economy, including their new Skynest sleeping pods, and big changes to Premium Economy and Business Premier, as well as their new Business Premier Lux. NZ Herald Deputy Business Editor Grant Bradley joined Simon Barnett and James Dan...

Contact Energy says potential electricity shortages shouldn't worry people. It follows concerns being averted both last night and last week, after warnings there were risks of insufficient power generation and reserve to meet demand. Chief Executive Mike Fuge told Mike Hosking we're never close to the edge, as the country has a robust power system and recent events show it responds well. “Sometime...

The FTA agreements with the EU are going down to the wire. Jacinda Ardern and Trade Minister Damien O'Connor are in Europe to meet with EU leaders to secure a good deal. New Zealand already has a positive FTA with the UK, but the EU aren't offering us much of a great deal with dairy and meat. The Country host joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy inf...

NZ King Salmon is closing down 3 of its 4 fish farms in Marlborough Sounds. Warming sea temperatures is the reason behind this, which have become a growing issue for the company for the past 4-5 years. Over the last few summers, sea temperatures off the New Zealand coast have been around 5 to 6 degrees warmer than normal. BusinessDesk managing editor Pattrick Smellie joined Heather du Plessis-Alla...

The World Bank is warning of a global economic slowdown. They say many countries are likely to face a recession. A forecast of global growth slowing to 2.9 percent has also been predicted by the World Bank, a drop of 1.2 percentage points from January. HSBC chief economist Paul Bloxham joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Look no further than the mighty Hamilton for how a city survives during a pandemic when it isn't locked down. A recently released 2021 economic report shows that Hamilton has had the strongest economy compared to other cities. Since 2019 it's GDP has increased 4.3 percent - compared to 3.3 percent for Wellington, 3.1 percent for Christchurch, 0.4 percent for Auckland and 3.6 percent across the cou...

Warnings from industry leaders that the housing crisis could deepen and property prices could spiral again, if new builds stall. The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries for new housing builds, as lending becomes tougher and banks want fixed-price contracts. Vice-President Johnny Calley told Mike Hosking it's the ha...

A construction expert says we're in for turbulent times, with the slowdown in the market for new housing builds igniting fears property prices could begin to spiral. The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts. AUT's John Tookey told Kate Hawkesby some co...

Employers are being asked to loosen their approach to medical certificates for sick leave among staff. GPs say having people coming into clinics while sick every time a medical certificate is needed is taking its toll on an already overwhelmed workforce. They say that schools and workplaces should think about waiving the certificate requirement or extending the time period they are required for. B...

Jacinda Ardern is on her way to Europe. One of the issues on her mind in particular is the FTA with the EU, particularly with milk and cheese. The Dairy Companies Association reckons the EU is “doubling down on keeping its market almost entirely shut to New Zealand dairy exporters.” NZME Business Commentator Fran O'Sullivan joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener...

An argument is being made for us look at the correlation of home loan rates and the Official Cash Rate, after looking at the average floating rate above the OCR. The floating rate used to sit about 2 percent above the OCR, but over the last 15 years that has steadily increased to now sit around 4 percent. And on a $1.1 million home that can be the difference between paying $1.1 million in interest...

More than $1 billion is spent on takeaways and fast food each year in Auckland. High deprivation areas have a higher concentration of the outlets, and fewer places - like supermarkets - selling fresh food. Nutritionist Nikki Hart told Kate Hawkesby for people with low incomes, working multiple jobs and with large families to feed, the food looks attractive after a long day. She says the industries...

The removal of pre-departure tests could be the bait luring Australians to New Zealand ski slopes. NZ Ski Chief Executive Paul Anderson told Tim Dower they've seen a huge increase in bookings in the last week. He says this could've been because of the snow or the scrapping of pre-departure tests for international tourists. Paul Anderson says the travel experience for Australians won't be as bad fo...

Farmers says a stock control bylaw being proposed by the Tasman District Council, will be impossible for farmers to comply with. The council wants farmers to hold sheep 50 metres back from a road, while moving stock until all cars have driven past. There's also a suggestion the new bylaw has a 'no-poo' requirement when shifting stock. Nelson Provincial Federated Farmers President Stephen Todd told...

A proposed bylaw in Tasman District Council is causing outrage. The proposed law will require farmers to hold sheep 50m back from a road while shifting stock until all cars have driven past. Federated Farmers Nelson Provincial President Stephen Todd says it could end up being an unworkable joke. The Country host Jamie Mackay joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener...

Air New Zealand has announced it's relaunching 14 international routes in 16 days. It will have three-quarters of its international and domestic routes up and running by July 9th. Houston, Honolulu, and Tahiti are among the destinations that are being restarted from Auckland, while flights to Fiji and Australia are restarting from Christchurch, Queenstown and Wellington. NZ Herald Business Editor...

It is the worst time to be a first homebuyer since 1957 apparently. Infometrics say millennials are signing up to a lifetime of debt and they're likely to be much worse off than baby boomers. They say the two key factors for this are the average proportion of a household's income needed to service the loan throughout the mortgage and the expected increase in the value of the property over the life...

New Zealand now has it's first-ever alcohol free bottleshop. AF Drinks (Alcohol Free) opened today on Ponsonby Road. It hopes to remove some of the stigmas attached to those who don't drink alcohol. AF Drinks founder Lisa King joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fletcher Building says the plasterboard shortage should be sorted by October. Chief Executive Ross Taylor has spoken at an investor presentation about measures being taken to control and increase supply. That includes its allocation model and importing Australian board. He told Mike Hosking they've also reconfigured their plasterboard factory to lift production. Taylor says supply should be hittin...

Smaller grocery players are casting doubts on the latest moves by the supermarket giants. Foodstuffs has followed its rival Woolworths, in announcing a wholesale service for smaller operators. It follows concerns about the current grocery duopoly. Dairy and Business Owners Group chairman Sunny Kaushal told Tim Dower many of the problems won't be fixed, until the duopoly ends. LISTEN ABOVE See omny...