Best of Business

After months of debate, an agreement hass been reached between Silver Lake, New Zealand Rugby and the New Zealand Rugby Players’ Association.   UU private equity giant Silver Lake will invest $200 million in exchange for a stake of up to 8.58 percent.   It still needs the green light from the Māori Rugby Board and provincial unions.  North Harbour chairman Gerard van Tilborg joined Mike Hosking to...

Housing affordability has deteriorated to all-time record lows.  Figures from CoreLogic shows the average New Zealand property is now worth 8.8 times the average annual household income - up from 8.3 just three months ago.   But CoreLogic Chief Property Economist Kelvin Davidson told Mike Hosking he doesn't believe numbers have peaked.  “There’s perhaps a little bit of momentum in house prices lef...

Several alcohol companies are continuing to illegally supply Dunedin students free drinks, in exchange for advertising.   Police have warned those companies, but with O-Week starting on Monday, the problem is likely to get a whole lot worse before it gets better.   Doug Sellman, director of the National Addiction Centre joined Kate Hawkesby.  LISTEN ABOVE See omnystudio.com/listener for privacy in...

Hot Property with property expert Matt Ryan on the fast-changing housing market, tips for first home buyers and what to do amid a construction supply shortage.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are more calls for help from hospitality businesses every day.  Now a Hospitality NZ survey says more than 70 percent of cafes, bars and restaurants are looking to cut staff or reduce hours to survive.  We heard earlier this week what's happening in Queenstown and in Auckland's CBD.  Hospitality NZ CEO Julie White and Retail NZ CEO Greg Harford joined Mike Hosking.  LISTEN ABOVE See omnystud...

Tuesday Business with New Zealand Herald Wellington Business Editor Hamish Rutherford: The anti-mandate protest is on its eighth day so how are businesses coping? Food price hikes and is the housing market in Wellington softening?   LISTEN ABOVE See omnystudio.com/listener for privacy information.

A report has been released investigating what matters most in the workplace.  Recruitment agency OneStaff has released their latest report gauging work attitudes, experiences and remuneration from more than six thousand people in the trades and industrial sectors.  It finds median hour pay has risen to $27 an hour.  CEO Jonathan Ives says the number one motivation in a workplace across every secto...

With daily Covid cases coming within an inch of hitting that one thousand mark, more of us will be close contacts and have to isolate.  That could mean more stress for workers who're going to have to pick up the slack.  One expert predicts that a "tidal of wave of risk" is coming.  He warns some workers are at risk of being exploited and taken advantage of to fill the gaps.  Chris O'Reilly is CEO...

A warning the entire economy could collapse, if lawmakers don't come up with a new plan fast.  The local chamber of commerce is predicting most businesses in Queenstown will close in a week, as rising Covid-19 cases forces close contacts into self-isolation.   Republic Hospitality Group CEO Blair Impey told Mike Hosking it's a fast nightmare that comes on quick.   He says they have 51 staff self-i...

A call for New Zealanders to learn the carbon footprint of their grocery shop is yet to get off the ground. There's concern the country is lagging behind when it comes to helping shoppers slash carbon emissions. Food retailers in Europe have brought in receipts telling shoppers the carbon footprint of their purchase. But Kiwi Tech Company CoGo has found it more difficult to get food retailers on b...

A butcher believes the new close contact exemption scheme, raises more questions than answers.   Under the scheme, critical business workers won't have to isolate if they're identified as a close contact at phase two of the Omicron outbreak.  That's if they return daily negative rapid antigen tests.  Businesses can go online now and apply if they think they meet the criteria.  Westmere Butchery Ow...

Small and medium-sized enterprises are feeling the pinch under the Covid-19 protection framework.  A new survey by MYOB shows more than half expect to see a negative impact on the financial health of their business, if the country stays in Red for more than a month.  Almost a quarter believe they will take a significant financial hit.  Head of Go to Market at MYOB Jo Tozer told Kate Hawkesby they'...

Hospitality businesses will continue to ask for government support, as more close their doors.  Latest figures from the Restaurant Association show businesses are reporting a 30 percent decrease in year-on-year revenues.  Eftpos data also shows a 30 percent decrease in transactions in January, with hospitality being one of the hardest hit sectors.  Auckland Restaurant Association President Krishna...

The capital's business sector is calling for more clarity about when Transmission Gully will be open.  The Wellington, Kapiti and Porirua Chambers of Commerce are calling for an urgent independent inquiry into the 1.25 billion dollar motorway.  Another independent review is already underway into a road, but its complete findings won't be out until the project's finished.  Porirua Chamber of Commer...

A concert promoter is frustrated at the lack of support for the sector.  Several events have already been cancelled this year due to the Omicron outbreak.  The latest includes Wellington's Homegrown Music Festival and New Plymouth's Womad.  Capital C Concerts Owner Phil Sprey told Mike Hosking it's devastating to see more concerts being pulled for another year.  “We’ve actually to the Government,...

At 10am Hipkins and Verrall are setting out "the plan to support key businesses and supply chains" so businesses can make some money during phases two and three of our response.   What they really want to hear is what is going to happen with the Rapid Antigen Tests and how they will be distributed.   Employers and Manufacturers Association chief executive Brett O'Riley joined Mike Hosking.  LISTEN...

Another cheque has been thrown in the Government's Covid coffers.   This time Damien O'Connor is handing out $400,000, for farmers who might get the virus.  It's all part of a contingency plan and wrap around support for the sector should they get an outbreak.  Federated Farmers vice president Andrew Hoggard joined Mike Hosking.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

More pain at the pump is on its way, as petrol prices continue to climb.  It's thought 91 could reach $3 a litre soon, and stay there this year.  The National Party is calling on Auckland's regional fuel tax to be scrapped.  Consumer New Zealand Chief Executive Jon Duffy told Kate Hawkesby $3 a litre will hurt everyone, but particularly those on low or fixed incomes.  “Bear in mind this is in comb...

People are still buying the same amount of fuel, despite prices edging closer to $3 a litre.  The Prime Minister says the rising cost is a supplier issue, while National's Chris Luxon is calling for the removal of Auckland's Regional Fuel Tax in order to give customers some respite.  Gull New Zealand Chief Executive Dave Bodger told Mike Hosking regardless of the tax, people are buying the same am...

Sky high construction costs are taking a toll on builders' mental health.   CoreLogic Cordell Construction Cost Index for the last quarter of 2021 shows a 6.2 percent increase.  And there's a warning that figure could hit double digits.   It comes as a recent study from Mates in Construction has shown the impact it's having on builders' mental health.   Registered Master Builders' Association chie...

Construction costs are continuing to skyrocket and there are no signs of slowing down.   The CoreLogic Cordell Construction Cost Index for the last quarter of 2021 shows a 6.2 percent increase.  That's the highest in four years.   But experts are warning that figure could hit double digits.   CoreLogic chief economist Kelvin Davidson told Kate Hawkesby costs could easily rise to 10 per cent or mor...

Petrol soars to the $3 mark in the capital and NZ Herald Business Editor Hamish Rutherford shares his concerns about Wellington's CBD. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are hopes the most expensive bottle of wine to ever go to auction in New Zealand will be consumed, rather than invested.   Liquid gold is on the market today, with a 1996 bottle of Romanée-Conti going under the hammer.   The pinot noir from Burgundy is expected to sell at The Wine Auction Room's rare and fine wine event for between $65,000 - $85,000.  Co-founder Reece Warren told Mike Hoskin...

Unleaded 95 is above $3 per litre at different places around the country while experts predict the same isn't far off for 91.  It hits the regular punter hard, because evidence shows we still use our cars just as much during price hikes, but spare a thought for the transport companies as well.   Managing director of OnRoad Transport Ltd Don Wilson joined Mike Hosking.  LISTEN ABOVE See omnystudio....

The demand for quality meat has meant a boost for homekill and retail butcher services.   There's been a surge in home kill trade since 2020 - believed to be from people using the service to avoid contacts with others at supermarkets.   Plus, if you have the animal available, it's significantly cheaper.   Founder of Meatworx butchery Brad Walters joined Mike Hosking.  LISTEN ABOVE See omnystudio.c...