Best of Business

It's reporting season, and a few big US tech companies have got involved. After Netflix’s stocks dropped to 45 percent last week, expectations have been low. Microsoft and Meta maintained just profit guidance, but the shares are up 6 and 7 percent respectively. Fisher Funds Senior Portfolio Manager Sam Dickie joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy inf...

A big upset for the hospitality sector. A multi-million dollar deal to buy Nourish Group has fallen over because overseas investors couldn’t easily travel to New Zealand and are concerned about future pandemic restrictions. Nourish Group owns a number of well-known hospitality businesses around the country, including Soul Bar in Auckland and Shed 5 in Wellington. The deal would’ve been worth more...

Winter grazing rules have changed. One of the rules concerning re-sowing crop paddocks has been changed from November 1 to as soon as possible. A lot of the regulations were due to come in May 1 last year, but were moved to May 1 this year and then again to November 1. The Country Host Rowena Duncum joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.com/listener for privacy information.

ANZ’s latest Business Confidence Survey is suggesting we’re going to face more inflationary pressure still. Unsurprisingly, confidence overall is down and there are concerns over rising inflation. Activity expectations has picked up and the rate of acceleration of cost increases is slowing. NZ Herald Business Editor at Large Liam Dann joined Heather du Plessis-Allan. LISTEN ABOVE See omnystudio.co...

Fonterra is happy to comply with government conditions on its capital rejig. The Dairy Industry Restructuring Act needs to be changed but the Government wants one more minister on the Milk Price Panel for more transparency. Fonterra would need to contract a financial institution for the farmer-only share trading market - and do independent analysis of the share price performance for farmer-owners....

The Government is trying to get more older workers to stay in the workforce and not retire. They say they have an employment action plan to try and achieve this. It comes as one third of our workforce are considered older workers. CEO of Age Concern Karen Billings-Jensen joined Kate Hawkesby. LISTEN ABOVE See omnystudio.com/listener for privacy information.

I know many of you will have gone away for Easter holidays or school holidays, or perhaps be planning to go away soon given we are now finally free and able to travel. But I’m shocked at how expensive it is – and how under staffed many areas still are. My sister took her kids to the Gold Coast – paid way too much money in my opinion for flights to Brisbane – more than 8 grand for 4 people, and she...

So, yet another red flag for you to be cognisant of. If the co-governance scandal isn't bad enough, if He Puapua isn't bad enough, if the mess the economy is currently in due to absurd spending and the resulting inflation isn't bad enough, get your head around what David Parker has been up to. He gave a speech yesterday about the inequity of the tax system. This comes off the back of him and his m...

Virgin Voyages has announced its newest ship Resilient Lady will be homeported in Melbourne. Richard Branson's freshly chartered cruise company has set course for Australia and New Zealand with its unique brand of 'adults only' cruising. The most anticipated venture into cruising for the last decade, the company couldn't have chosen a worse time to debut. The Flagship Scarlet Lady launched in 2021...

The National Party thinks Labour just wants to tax people more. Revenue Minister David Parker is introducing a new bill focussing on principles of fairness in our tax system. He says the data on tax paid by New Zealand's wealthiest is close to useless, with a lot on low or middle incomes and very little on the wealthy. National Party finance spokesperson and deputy leader, Nicola Willis, told Kate...

A tight labour market means farm managers are having to pay their workers more to retain them. A survey by Rabobank and Federated Farmers shows farm workers’ wages went up 14 percent over the last two years. Todd Charteris, Rabobank chief executive joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's belief the Government may be preparing the groundwork for a capital gains tax - if elected for another term. Revenue Minister, David Parker, has launched the Tax Principles Bill, which will likely include things like fairness and effectiveness. He says Labour's committed to not passing any new taxes this term, but is coy on what tax policy the party will run at next year's election. PWC ta...

Elon Musk's purchase of Twitter has been met with cheers - and jeers. The billionaire added the social media giant to his empire in a deal worth $66 billion. While some have welcomed the move, others are worried that misinformation and hate speech will be allowed to thrive. Former White House Senior Cybersecurity Director Samir Jain says some people have already started leaving the site. He told K...

Along with the number, came the commentary, and the commentary was the thing that clearly stung the most. Our inflation number is a disaster. 6.9 percent is something we all see, feel, and fear. There was no escaping it, given it's a statistic. It's a number, and numbers don't lie. But Adrian Orr's commentary to the International Monetary Fund is the bit that clearly got under the governments, and...

The tourism industry wants restrictions at the border lifted. Tourism Export Council chief executive, Lynda Keene, says many countries have opened up, including Australia, the UK, Canada and Singapore, with no Covid-19 testing requirements. She told Mike Hosking New Zealand is slower with our decision-making, which is frustrating for offshore travel partners. Keene says Australia's rolling out the...

Hong Kong relaxed pandemic restrictions on Thursday, with Disneyland and museums reopening and nighttime restaurant dining resuming as the city's worst COVID-19 outbreak appears to be fading. Enthusiastic visitors ran into Disneyland the moment the gates opened after a three-month closure. Popular theme parks were ordered to close in January as Hong Kong's fifth wave of the coronavirus took hold....

Yesterday saw inflation figures rise to 6.9 percent. It comes after predictions of as high as 7.4 percent, which is seemingly better than the actual result. While the figures don’t look good, there may actually be some good news with inflation. Business commentator Rod Oram joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Americans think wool is rough, itchy and hard to care for. New Zealand is the world's third largest exporter of wool, so a group called Campaign for Wool New Zealand is on a mission to change America’s perspective of it. Chair, Tom O'Sullivan joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Grant Robertson says the Government is doing what it can to help beneficiaries. The Acting Prime Minister and Finance Minister told Tim Dower that's why it's targeted low and middle income people with its April 1 package. He says people are still getting the benefit of that, with increased income support payments. Robertson says the Government also continues to provide Covid support in the area of...

Unions are demanding for robust and enforceable health and safety national standards for our port workers. It comes after 26 year old port worker Atiroa Tauiti died on Tuesday while working on a docked container ship. Three maritime unions have written a joint letter to Workplace Relations Minister Michael Wood to try and get action on this. Iain MacLeod, Merchant Service Guild National Vice Presi...

Grant Robertson is being urged to help people as inflation bites. Inflation's risen to a 30-year high of 6.9 percent, there are predictions it will continue to go up. Beneficiary advocate Kay Brereton says beneficiaries are cutting back on food, and says it will be a shock when fuel and public transport prices and go back to normal. She told Tim Dower she wants the Finance Minister to extend those...

Companies are being warned they could go out of business, if they don't lift prices. Annual inflation's hit 6.9 percent  - a 30-year high. Auckland Business Chamber CEO, Michael Barnett, says businesses are paying more for shipping, fuel, and transport and have higher staff costs. He told Roman Travers consumers will have less money in their pockets, so businesses need to ensure their products hav...

There is some hope on the horizon for our wine growers. This year’s grape harvest looks to be in far better shape than what 2021 gave them. Last year’s harvest was 20 percent smaller than usual, due to poor weather and having to navigate through Covid.  Philip Gregan, CEO of New Zealand Winegrowers joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A Kiwi oil company is hoping to meet the demand for sunflower oil in New Zealand, which would usually be meeting by imports from Ukraine. Pure Oil currently grow 300 to 400 hectares of sunflowers a year, but would like to expand that up to 1000 hectares while supplies are short. Pure Oil Managing Director Nick Murney joined Roman Travers. LISTEN ABOVE See omnystudio.com/listener for privacy inform...

So while the property market might be cooling in some parts of the country, this might make your eyes water. A new record has been set in Tauranga, where a penthouse apartment at Mount Manganui has sold for $10.2m. To put in context, the rateable value was only about $6 million. Questions are being raised as to how a such a big purchase is justified. Bayleys luxury home and apartment specialist in...