Best of Business

There's a call for a broader conversation about New Zealand's growing issue of greenwashing.  It comes from AMP Wealth Management.  Chief executive Blair Vernon told Mike Hosking it's more an issue of gilding the lily.  He says there's a lot of money out there being invested - and the demand from their clients is no matter where it goes, they want it invested responsibly.   Vernon says that's why...

Over 40 per cent of Kiwis agree the Government should forcibly bring house prices down to pre-Covid levels.   That would be around a 20 to 25 per cent drop in prices.   These numbers come from a One-Roof consumer link survey.   Kelvin Davidson, Core Logic's chief property economist joined Kate Hawkesby.  LISTEN ABOVE    See omnystudio.com/listener for privacy information.

An acknowledgement from the Government it's a challenge to fill job vacancies in rural areas.  It's making it easier for dairy, meat processing and forestry workers to come here from overseas.  An extra 1600 or so workers will be given border exemptions from today.  Agriculture Minister, Damien O'Connor, told Mike Hosking that farmers have made efforts to get young Kiwis into these roles, but not...

Leaft Foods has attracted some big global backers this week. They’ve raised money from investors including a Silicon Valley venture. Leaft Foods grow leafy green crops in Canterbury and then extract the protein from them to be used to make other foods. Business commentator Rod Oram joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government is pumping $13 million into growing the local organic medicinal cannabis industry. The Beehive reckons cannabis could become the new wine when it comes to exports. The money is going to Marlborough-based organic cannabis growing company Puro. Puro managing director Tim Aldridge joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

With all the many big-name businesses and restaurants having closed down in recent months, it's nice to see one coming back. Lion's Little Creatures is officially opening back up today. They originally shut because of the Red Light restrictions and staff shortages, but the changes to the Red Light settings, although they aren't Orange, is enough to open back up. Lion Hospitality director Mike Corr...

It’s no secret that stock markets have been very volatile this year and investors have had a tough time. And now investors in bonds, which are always considered to be safe and conservative, are all over the shop as well. This year, the return from investing in a global government bond is down more than 8 percent on average so far and the return from investing in a global corporate bond is down mor...

Local businesses are being impacted by a proposed new cycleway in Wellington which goes through Newtown up to the Basin Reserve. They say they’ve had virtually no consultation and they aren’t happy about the cycleway as it’ll take away carparks. The businesses in the area have launched their own petition to take to Wellington Council. Four Seasons Florist owner Laura Newcombe joined Andrew Dickens...

It’s looking at costing up to $1 million to repair the Parliament lawn after the protests. And it’s not just repairing the lawn as well, as the mess from Parliament has to be tidied up. The lawn has been completely ruined due to being infested with rats and human defecation. The Country host Jamie Mackay joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nicola Willis and Grant Robertson have been interviewed for the NZ Herald. Inflation was the big issue that was brought up in the interviews. With tackling inflation, their approaches aren’t actually that much different but are dressed differently. NZ Herald Business Editor at Large Liam Dann joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

If you’re in KiwiSaver, chances are part of the appeal of signing up is that you get a regular financial contribution to your retirement from your employer. So it’s come as a bit of a shock that depending on your contract, that employer contribution may be coming out of your pay packet. Current law allows this under a total remuneration clause in employment contracts, and Consumer NZ says this is...

Commodity prices are on the up. The ANZ World Commodity Price Index hit a new record in March with a lift of 3.9 percent. Meanwhile, global shipping is being driven up due to the continuing lockdowns in China. Infometrics Principal Economist Brad Olsen joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new brain drain may be upon us, but that doesn't necessarily mean the brain gain is over. Tony Austin is a Kiwi who has held senior roles at eBay and Amazon, and he's coming home to take a position with tech start-up Partly. Austin was an early investor in the online auto parts firm and he's now been hired as Chief Strategy Officer. Tony Austin joined Andrew Dickens. LISTEN ABOVE See omnystudio....

People are being warned to expect more rises to mortgage interest rates. Kiwibank has lifted its standard 5-year home loan rate to 6.79 percent, the highest since 2014. Umbrella Company mortgage advisor, Sara Hartigan, says as a country, we've been conditioned to very low interest rates but it's not going to stay like that. She told Kate Hawkesby there are many things affecting interest rates, suc...

Businesses could be more inclined to support the Government's unemployment insurance plan, if it cut health and disability coverage. The scheme would see people who are made redundant or stopping work for medical and disability reasons, paid up to 80 percent of their salary, for up to seven months. It would be funded by a 1.39 percent levy on both employers and workers. BusinessNZ Chief Executive...

New Zealand mortgage holders are expected to feel the pinch, as interest rates rise. Kiwibank's lifted its standard 5-year home loan rate to 6.79 percent, for those with less than 20 percent equity. Chief executive, Steve Jurkovich, told Mike Hosking it's a long time since there's been a rate that high. He says most people will have an under 80 percent Loan to Value Ratio, so will be paying 5.79 f...

The country's ski industry is grappling to fill 250 specialised roles before the Australians arrive. With the border beginning to reopen next week - places such as Queenstown are bracing for what could be its biggest ski seasons on record. But the industry wants a class exemption to get the needed workers into the country, and are waiting to hear from Immigration New Zealand. Cardrona and Treble C...

A Christchurch start-up developing technology to clear fog at airports is delighted to have won government backing. Pyper Vision is in active development of a spray which is able to quickly absorb moisture from the air, clearing fog in critical areas. It could help prevent flight disruptions like those seen at Wellington Airport last week. Chief Executive Emily Blythe told Mike Hosking over 200 te...

Kiwi education tech platform Kami has been named one of Time Magazine’s 100 most influential companies of 2022. Kami is an online platform that allows teachers to upload learning documents that can then be shared with students and create interactive channels. It’s the only all Kiwi company to make the list among the likes of Apple and Spotify. Kami founder and CEO Hengjie Wang joined Andrew Dicken...

Consumer confidence is at yet another record low at the moment. According to the latest ANZ-Roy Morgan survey, nearly half of us think we’re worse off financially than we were this time last year. 23 per cent of us also think that house prices will decline, up 7 per cent from October. ANZ senior economist Miles Workman joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy inf...

In these times when business is hard to come by, we should be celebrating when a company does so well.   Silver Fern Farms has posted an annual record profit of $103.8 million, a 59% increase.   They've benefited from a market surge in demand for protein and of course we have the best here.   Silver Fern Farms chief executive Simon Limmer joined Mike Hosking.  LISTEN ABOVE See omnystudio.com/liste...

More Kiwis are relying on shares over traditional savings for their retirement. New data says Kiwis are much more inclined to invest in shares, even though shares are much more volatile in the market. Some of the trends show that Kiwis are more interested in managed funds over the past year or two, but older people are more likely to invest in managed funds than they were a year ago. Fisher Funds...

The Prime Minister is set to meet with Groundswell. However, Jacinda Ardern wants to meet them with other farming groups like DairyNZ, Beef + Lamb and Federated Farmers. Groundswell has said they will only meet with the Prime Minister one on one. The Country host Jamie Mackay joined Andrew Dickens. LISTEN ABOVE See omnystudio.com/listener for privacy information.

April 1st is the start of the new financial year. It means the ute tax, but also means the minimum wage goes up to $21.20 on Friday. There are some fears that this could stoke inflation further, with the ANZ Business Survey this week concluded that inflation expectations are off the charts and ‘moon-bound’. Economists point to productivity to break this dangerous spiral. NZ Herald Business Editor...

A lot of shareholders are facing a rights issue for the first time ever. Air New Zealand is launching its recapitalisation package and some investors will have to process a rights offer for the first time. Sharesies investors own over 6 per cent of Air New Zealand and now they’ve been given the right to buy 6 per cent more shares at a discounted price. But how will this work for Sharesies and are...