Best of Business

Christchurch Airport says it's achieved its goal of becoming beyond carbon neutral - and now it's entered into being climate positive. The airport is considered a global leader in getting airports and aviation to a lower carbon future. Nick Flack, General Manager of Planning and Sustainability at Christchurch Airport joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy informatio...

The chain that owns PaknSave, Four Square and New World says it's doing everything to help customers in the face of high inflation. Many economists are predicting the Consumer Price Index will be more than seven percent, when it's released this morning. Foodstuffs North Island chief executive Chris Quin told Tim Dower the company is trying to help customers find value. He says pricing's being simp...

This morning's inflation rate will be historically high - but economists are divided on how high inflation will be, and how long it will last. Stats NZ will release its latest Consumer Price Index data just before 11am. ASB Economist Mark Smith told Roman Travers the big uncertainty is whether the high inflation continues into next year. “The longer these prices stay up, the more the cost of high...

I often wonder how different things would be for myself if I didn’t listen to the news, the news makers and those with editorial licence. Do you sometimes find yourself buying into impending doom and global catastrophe only to find that things don’t change for you personally? The past few years has been like living through an incredibly drawn out and poorly directed Netflix series that’s sucked yo...

Our billion dollar collision repair industry could lose 15 percent of its revenue this year. Demand for parts and repairs are down 31 percent on pre-Covid levels, due to less people using their cars while working from home and the rising cost of petrol. Neil Pritchard, from the Collision Repair Association joined Tim Dower. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Global events are weighing down global dairy prices. Overall prices are down 3.6 percent at the latest Global Dairy Trade auction overnight. The all-important whole milk powder price is down 4.4 percent - while the price of skim milk is down 4.2 percent. JMI Wealth Director Andrew Kelleher told Tim Dower supply is up, and several factors are pulling demand down. “Russia-Ukraine conflict, we’ve had...

Inflation could spiral even higher. Reserve Bank Governor Adrian Orr admits to being caught on the back foot by supply chain woes, and the war in Ukraine. The man who used to hold his job through the 90s, Don Brash, says Orr has a major inflation issue on his plate. He told Tim Dower if the inflation number tomorrow is seven percent or above, it will be the highest since 1988. Brash says the risk...

The Prime Minister re-starts in-person trade negotiations today. Jacinda Ardern sits down with Singapore's Prime Minister this afternoon. It's her first meeting with a foreign leader overseas since the pandemic began. A delegation of trade and business leaders are with her, including Zespri. The company's External Relations Director Michael Fox told Roman Travers the Asian market is incredibly imp...

Concerns are being raised about the implications of less experienced workforces worldwide. 70 per cent of those who left work in the US during the pandemic were older than 55. In the UK the employment rate of over 50's has fallen dramatically. In contrast, New Zealand still has an aging workforce and there are those who feel we could be using this to our advantage. Sarah White, from Tribe Recruitm...

Hannah McQueen gives her perspective on hiking interest rates following a rise in the OCR this week. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The move to Orange setting means we can now mingle at bars, nightclubs and restaurants mask free - with no capacity or distancing requirements.  It's welcome news for the hospitality industry.  Chand Sahrawat and her husband Sid run The French Cafe and Cassia restaurants in Auckland and Chand Sahrawat joined Kerre McIvor.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

One economist says the Reserve Bank has needed to increase the Official Cash Rate for a while.  It's gone from one to 1.5 percent.  Infometrics Chief Economist, Gareth Kiernan, welcomes the central bank coming to the party, and realising we don't need interest levels so low.  He told Kate Hawkesby the housing market's been running rampant and there's been strong household spending.  Kiernan says t...

This morning's move to Orange means an end to gathering limits for major indoor events like netball games.  Central Pulse Chief Executive Fran Scholey told Mike Hosking while demand for tickets is high, some fans will still be a bit hesitant.  “We’ll have that fear I think sometimes with people and we’ll also have the factor of they don’t have that income at the moment because of the cost of livin...

Data suggests that 18-39 year olds could become a "lost generation" as a lot of our young people are planning to try their luck overseas.  Questions are being raised as to how we keep skilled young talent from taking their skills offshore.  Auckland Central MP Chloe swarbrick says we need to make our CBDs more attractive for young people.  AUT Professor of Management Jarrod Harr joined Kate Hawkes...

The supermarket duopoly is copping blame for the highest food price rise in more than a decade.    Latest figures show food prices jumped 7.6 percent in a year - with fruit and veggie prices rising 18 percent.    The Consumer Affairs Minister says it highlights the grocery sector's role in driving up prices.   Night 'n Day General Manager Matthew Lane told Mike Hosking it's hard for smaller player...

Surprise from some economists at the size of the Official Cash Rate rise.  The Reserve Bank has lifted the rate by half a percent, to 1.5 percent.  NZIER principal economist, Christina Leung, says she thought there was a 50/50 chance of the rise being 50 basis points.  But she told Mike Hosking the central bank is balancing a lot of different factors.  Leung says there's a surge in inflation press...

A big change in the wind for Air New Zealand.  A move to Orange has meant from today domestic travellers will no longer have to be vaccinated or show a negative test to be able to fly.   From May, the same rules will apply to international travellers.   Air New Zealand CEO Greg Foran told Mike Hosking it's a step in the right direction for simplifying travel for customers.  He says they're seeing...

The Anthony Albanese gaff over employment and the cash rate, in some respects, is why we end up the way we do.  Adrian Orr today increases our cash rate yet again. He started doing that before just about anyone else in the world. He was in that position because he and his mate Grant Robertson went nuts with the printer.  We are today, yet again, paying the price for an astonishing amount of fiscal...

All eyes will be on whether the reserve bank lifts the OCR by 25 or 50 points.   Chief economist at ANZ Sharon Zollner joined Mike Hosking with her predicition.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Marketing efforts to draw Australians to our shores are being ramped up.  Fully vaccinated Aussies can now come here without needing to isolate, with the first flight touching down from Melbourne just after midnight.  Tourism New Zealand chief executive, Rene de Monchy, says the organisation has been lightly promoting New Zealand to keep people interested.  He told Kate Hawkesby with the border re...

David Jones is leaving Lambton Quay in Wellington.  This will leave a huge hole in the city as in a short time, David Jones became a flagship store for the area.  Foot traffic has been down in Wellington due to Covid, the protests and the council's removal of a lot of on-street parking.  Retail NZ's Greg Harford joined Kate Hawkesby.  LISTEN ABOVE See omnystudio.com/listener for privacy informatio...

As of this morning, Australians are welcome back to our shores. The long-awaited welcome mat gets laid out as the border creaks open.  It’s going to be interesting over the next few weeks in terms of how many take up the opportunity – will they come now? Or wait for the ski season? Will our red light put them off? Can they get decent priced flights? Can they get good hotel rooms in parts of the ci...

New emails show the Health Ministry asked Rapid Antigen Test suppliers to prioritise its orders over those of private businesses.  On January 22, staff flagged concerns they only had information on five percent of their January and February orders - just two percent were confirmed for delivery.   By month's end, businesses began reporting their orders were cancelled - because the Government had ta...

Some building companies are fed up with long waiting times for inspections.  There's a seven-week delay to get routine on-site building inspections from the Christchurch City Council.  These are inspections needed in order for builders to move forward in their work.   Home Trends Building director Peter de Gouw says it's not unique to Christchurch but it's particularly bad there.  He told Mike Hos...

Welcome relief for farmers as the Government announces it's allowing 1600 primary sector workers into the country.  They'll include 500 each for the dairy industry and red meat sector, and nearly 600 for forestry workers, wood processors and manufacturers.   But Federated Farmers employment spokesperson, Chris Lewis, told Kate Hawkesby it's a slow, frustrating process to bring them here.  He says...