Best of Business

What started as a punt, has become a relatively successful story in eradicating Mycoplasma bovis from New Zealand. Only one farm is left with the infection. It has been cleared from 271 farms - but not without herds lost, generations of genetics gone and claims from more than 2700 cases. Dairy New Zealand chair Jim van der Poel told Mike Hosking says it's been worth the shot. “We took a punt and s...

A gesture from one of our two big supermarket companies. Countdown says from Monday, it's putting a price freeze on 500 items for the winter months, everything from cheese and butter to carrots and pumpkin. It's in response to the cost of living crisis. But, Consumer New Zealand Chief Executive Jon Duffy told Mike Hosking it's just masking the real problem, which is that the industry is broken. “S...

The Auditor-General's being commended for flagging issues with the transparency of the Government's Covid response fund. John Ryan has written to Treasury, saying MPs and the general public haven't been getting enough information about how the $74 billion fund is being spent. Treasury has now published details on how much funding has been set aside and how it has been allocated. But Ryan says it's...

There are  hopes newly-approved Auckland cycleway extensions will provide safety for city commuters. Plans for more than $300 million in funding was endorsed by the Auckland Council yesterday. Bike Auckland Chair Tony Mitchell told Kate Hawkesby when you look at major cities like London and Paris - it's clear people don't get on their bikes unless it's safe to do so. He says the main issue with cy...

There is a bit of a supply shortage problem going on at PlaceMakers. On Thursday, PlaceMackers delivered price rise and shortage information, revealing Pink Batts has had production issues. Another product of concern is Gib, with customers being told to order it now for July. NZ Herald Business Editor at Large Liam Dann joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for...

Auckland Transport are appointing a designated staff member to oversee solutions to the recent ram raids experienced by local businesses. In some cases bollards will be installed outside shops that feel they're being targeted. But retailers feel it's still too hard to get permission for the bollards. Newmarket Business Association chief executive Mark Knoff-Thomas joined Heather du Plessis-Allan....

Nadia Lim isn't sweating the small stuff after a Kiwi richlister brought up her attire and race in an interview. DGL Group CEO Simon Henry claimed in an NBR interview that things including Lim's appearance, could explain why his business has outperformed hers on the NZX and ASX. Simplicity and Kiwi Wealth have chucked DGL Group on its exclusion list. Lim told Heather du Plessis-Allan his comments...

Founder and CEO of chemicals company DGL, Simon Henry, has criticised My Food Bag for putting an image of brand ambassador Nadia Lim in its prospectus, referring to Lim as 'Eurasian fluff'. National Business Review ran an article featuring an interview in which the comments were made. Kiwi Wealth in the process of adding DGL to its exclusions list in response to the derogatory comments. Kiwi Wealt...

What I wasn’t expecting in yesterday's unemployment number is that it would go nowhere. Just think about it, how is that possible? Everyone was forecasting 3.1 or 3 percent, down from 3.2 percent. Why? Because given what we know about work and the desperate shortage of skills and massive demand for labour, how is it possible we have so many people jobless and yet not able to find a single day's wo...

Auckland Airport is welcoming back international travellers, although most of its food and retail stores are yet to open. Vaccinated tourists can now come here from up to 60 visa-waiver countries. Currently there are limited dining and shopping options for them to choose from at the international terminal. Auckland Airport Chief Executive Carrie Hurihanganui told Mike Hosking about 30 percent of s...

Anyone who has checked their Kiwisaver account recently will be aware that returns have slowed down somewhat recently, with losses across funds from conservative to growth. To provide an insight into what’s going on in the investment world at the moment, Mark Riggall from Wilford Asset Management joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Today Stats NZ will be releasing unemployment figures for the first quarter. Economists are predicting it will fall to a new record low, just three percent. So with a lack of workers, and wage inflations, what can businesses do? For some in the primary sector, they are using AI, robotics and automation tech to do the jobs instead. Robotics is a kiwi-based world class company in robotics technology...

Many economists are tipping that unemployment will fall, some to a new record low, around the 3% mark. Suggestions are being raised that what it means though is that New Zealand has tapped out our labour market - everyone who wants to or can work, is. We now have a reliance on overseas workers so what can we do when they can't come in in bulk? Founder and CEO of Tech Futures Lab Frances Valintine...

National says the cost of living crisis is highlighted in the latest Newshub Reid Research poll. National is up 9.2 points at 40.5 percent surpassing Labour's 38.2 percent, falling 6.1 points. Act and the Greens have both dropped while the Maori Party has nudged half a point up. National Leader Christopher Luxon told Mike Hosking he believes the public sees National as better economic managers. “W...

It’s often said that marketing plays on people’s fears. You know what I’m talking about - things like those ads on TV that talk about the house being full of bacteria we can’t see and if we really want to be good parents and keep our family safe we should be spraying this or spraying that on every surface every five minutes. Create the fear and present the solution. All in 30 seconds. Elections ar...

A wealth researcher says there's enough big earners for a wealth tax to make a difference. Prime Minister Jacinda Ardern has ruled out introducing such a policy this term or next term if she's re-elected. Senior Associate at Victoria University Max Rashbrooke told Mike Hosking we have very large inequalities in New Zealand. “What people are normally trying to do with this kind of tax is not tax or...

‘Not good enough’ is the summation of the Bankers’ Association when it comes to the Government's tweaks on the CCCFA. The Government put a band aid on the lending rules when they announced the changes in March and put it up for consultation. Now the NZ Bankers' Association has officially put in their submission to the Ministry calling for a more fulsome review. Chief executive Roger Beaumont joine...

As house prices continue to climb, Kiwibank have set up an alternative to the traditional home ownership model, to help kiwis break into the housing market. Kiwibank say the new "co-own" scheme is hoped to streamline the process of buying into property with friends or family. Mobile mortgage manager at Kiwibank Madeleine Allen joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for priv...

The gaping hole in New Zealand's infrastructure may never be filled. A new report from the Infrastructure Commission has found we'd need about $31 billion annually to build our way out of our current infrastructure challenges. Commission Chief Executive Ross Copland accepts that kind of spending simply isn't viable. He told Mike Hosking we need to look at other solutions, including trying to reduc...

A former National party minister says it's risky for politicians to rule things out at any stage. Prime Minister Jacinda Ardern has ruled out introducing a wealth tax this term or next, if Labour is re-elected. Former Finance Minister Steven Joyce told Kate Hawkesby if she happens to change approach, the public will question her word. He says sometimes politicians rule something out because the pu...

So do we have a big backflip from the PM coming? The Heralds Political Editor Claire Trevett reminded us all yesterday of Ardern’s words regarding a wealth tax during the 2020 election campaign, remember that? It seems not even the PM recalled what she'd said, given she’s now saying something different.   So back in 2020, as Claire reminds us, Ardern not only ruled out a wealth tax - but said she...

You know it must be a slow news week when tax spends so much time in the headlines. But no matter which major party finds itself in government after next year’s election, it looks increasingly likely we’ll see changes to our tax system. Even though it’s not really true, New Zealand likes to think of itself as a relatively egalitarian society. We don’t have a formalised aristocracy or thousands of...

Big hype this week about Costco, the world’s largest retailer after Walmart, opening one petrol station in Auckland’s northwest. The retailer is expected to open its big warehouse later this year, including groceries, a tyre centre, a pharmacy, a food court, and an optical and hearing aid centre So the big question is will Costco bring the gull effect to the supermarket duopoly? Costco managing di...

The merger between Orcon Group (aka Vocus NZ) and 2degrees has cleared its final hurdle after the Overseas Investment Office granted consent. The deal earlier gained Commerce Commission, GCSB and shareholder approvals. Orcon Group chief executive Mark Callander, who will lead the merged business, said: "We expect the transaction to be finalised in the coming weeks and will come together as a combi...

The most common home loan these days is one that lasts for 30 years. Think about it, chances are it's longer than you have been alive, given many of them go to first home buyers. If you're later in life, it could be longer than you have left on Earth. That’s a lot of time owing a lot of money. 57 percent of mortgages this year so far are for 30 years. 66 percent of them in are Auckland, which shoo...