Best of Business

Hannah McQueen is talking about the latest OCR increase - the fact that rates are rising faster, and likely higher than previously predicted will be scary for some. The whole economic picture can seem overwhelmingly negative at the moment – so what do you focus on in the midst of the doom and gloom?  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Oil companies are making a killing at the moment. The price of Brent crude is back to levels not seen since early March. But there are a few developments this week that are starting to put pressure on the oil and gas companies. Business commentator Rod Oram joined Heather du Plessis-Allan. See omnystudio.com/listener for privacy information.

Apart from Kiwibank, no other bank appears to have changed their mortgage rates. Kiwibank has changed theirs as a result of the OCR going up on Wednesday. But why haven’t the other banks followed suit? Independent economist Tony Alexander joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Herald focus team did what we should all be doing. They worked out exactly how much you can save at a supermarket if you want to. Complaining about the price of things is easy. And when the two major players got into the game of making a contribution towards savings and price cuts, most people viewed it through a very cynical eye. But what I have been trying to argue is that although there is...

If you're an employer and offer flexible working options, you're opening up the talent pool by 45 percent. Frog Recruitment has released their 2022 Employment and Salary Trend report - and it's still all about the flexibility. The other big benefits that employees are after is career development, and then bonuses. Frog Recruitment’s Managing Director, Shannon Barlow joined Mike Hosking. LISTEN ABO...

Auckland's biggest supplier of sand for concrete is still fighting to mine a beach north of the city. Earlier this month, McCallum Brothers was declined resource consent by Auckland Council for offshore sand extraction at Pakiri Beach, due to concerns for the likes of marine and bird life. They have now lodged an appeal to the Environment Court, claiming the environment will be worse off, if they...

Disagreement between National and the construction industry, over the pressures facing the industry. The recent liquidation of Tauranga's Oceanside Homes and Wellington's Armstrong Downes has exposed the pressures the multi-billion dollar industry is under. National MP Andrew Bayly told Mike Hosking the issues could tip the economy into recession. LISTEN ABOVE See omnystudio.com/listener for priva...

Dairy owners say $6 million to stop ram raids is too little too late. The funding, announced by Police Minister Poto Williams, will come out of the Proceeds of Crime Fund to help vulnerable businesses bolster their protection. It will help pay for bollards and other security measures to prevent offenders breaking into and robbing stores. Sunny Kaushal from the Dairy Owners' Association told Mike H...

Disagreement between National and the construction industry, over the pressures facing the industry. The recent liquidation of Tauranga's Oceanside Homes and Wellington's Armstrong Downes has exposed the pressures the multi-billion dollar industry is under. But Construction Industry Council Chair Graham Burke told Tim Dower talking about a recession, is the right way to go about making one happen....

I really feel for these guys throwing in the towel on their construction businesses, there's been a spate in the past couple of weeks. Most recently, not a big one, a firm in Tauranga but bad enough if you're one of the creditors, who won't be seeing any of that half million shortfall. Since the start of the year, nearly 100 construction companies have gone unde, .nearly 1 in five of all business...

The reality dating show Love Island will dress contestants in second hand clothes from e-Bay. The show has attracted criticism in the past for having clothing sponsors like Missguided, and I Saw It First, companies known for their fast-fashion. Personal stylist Caitlin Taylor joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Central Bank has raised the Official Cash Rate to 2 percent in a bid to drive down our 31-year-high inflation. Its forecasts of how high the OCR might rise have also jumped significantly, peaking at 3.9 percent in June next year. Reserve Bank Governor Adrian Orr joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government is expected to announce funding for security measures that protect businesses from ramraids. Parnell Business Association's Cheryl Adamson told Mike Hosking any form of support is welcome. She says businesses have been crying out for ram raid security funding for 18 months, and hopes they'll be given cash for things like security grills, bollards, glass and barriers. LISTEN ABOVE Se...

Zespri's global revenue has topped $4 billion for the first time despite a challenging season, the company says. The kiwifruit marketer credited a record crop, investment in brand-led demand creation and its industry's ability to respond and leverage its scale for the record financial result in 2021/22. In a statement, the Mount Maunganui-based company said its global operating revenue of $4.47 bi...

It's coming home to roost a bit, isn't it? What we have learned this week, whether it be the construction company now in Britain looking to fill the jobs here that pay over $100,000, the university students that haven't come back despite the door being open, the manufacturers who told us the job queue is non-existent because reputation is an issue, or the apple orchards that have left over $100 mi...

Some consumers are fizzed up over Cocoa-Cola's decision to axe two of its soft drink flavours. Coke Zero and Coke No Sugar will soon be merged into one new flavour, Coke Zero Sugar. Auckland University marketing expert Bodo Lang told Kate Hawkesby outrage caused by the move shows how attached people become to brands. He says you'd expect the criticism over a change to a product such as a car, but...

The Reserve Bank is expected to lift the OCR to its highest level again since 2016. Economists are predicting a lift of another 50 basis points, trying to cool demand while we deal with rising inflation. It's also predicted all mortgage rates will be above 6 percent over the coming year. John Bolton is the founder of mortgage broker Squirrel and he joined Kate Hawkesby. LISTEN ABOVE See omnystudio...

New data suggests our shopping habits have changed for the long term. NZ Post's e-Commerce Spotlight report says online shopping was up 31 percent this quarter, compared to the previous year. To put it in context, it's up 86 percent compared to 2020. Even though we're out of Covid lockdowns, questions are being raised as to whether shoppers and businesses chosen a "new normal" of predominantly sho...

Prepare for interest rates to keep rising. The Reserve Bank is expected to raise the Official Cash Rate by another 50 basis points today, to counter rising inflation. That would take the OCR from 1.5 to 2.0 per cent -it's highest point in six years. Kiwibank Chief Economist Jarrod Kerr told Mike Hosking the central bank is likely to continue with 25 basis point rises until the OCR hits three perce...

Seismic global events have left the milk market on shaky ground. Rabobank's latest Dairy Seasonal Outlook forecasts a farmgate milk price of $9 per kilogram of milk solids for the 2022 to 2023 dairy season. But it says farmers need to control costs and manage their risks, thanks to an uncertain outlook. Senior agricultural analyst Emma Higgins says ongoing lockdowns in China, where about 45 percen...

The saving grace, they say, as we plummet towards who knows where economically, is that we all have jobs.  Growth might be slow or non-existent, the cost of living may well be going through the roof, the debt may be piling up, and the mood may be sour, but we all have jobs. It's a global phenomenon. As bad as it is, or might yet be, we are in work.  But you might have noticed Netflix laid some peo...

CTU economist Craig Renney joined the Weekend Collective to discuss the recently announced cost of living payment that will be received by all Kiwis earning less than $70,000 anually. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Harbour Asset Management's Chris di Leva joined Smart Money with reaction to the Budget released last week. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fears New Zealand's cost of living crisis is stopping international skilled workers from joining our job market.   A survey by Beyond Recruitment has found about 66 percent of businesses say it's harder to keep staff than last year, and 55 percent notice a rise in employees changing jobs  It comes after Seek data, released last week, shows some salaries have risen by a third in a year, and the num...

After extensive pressure on drug-buying agency Pharmac, and a major review of its operations, Budget 2022 has provided a big cash injection. Pharmac's medicines budget has received its biggest boost in history with $191 million allocated over two years to make more medicines and other health treatments available. Health Minister Andrew Little said some of the new money would be for new medicines a...