Best of Business

Wedding venues can reopen in Auckland under Red Light settings - but business is still hard to come by.  Annette Simpkins, the owner of West Auckland's Kumeu Valley Estate wedding venue, told Mike Hosking she only has four events between now and Christmas.  “The whole Christmas market has completely vanished. Probably about $200,000 down for the Christmas season.”  LISTEN ABOVE See omnystudio.com/...

Felt a bit sorry for Geoff White these past couple of days. He is the head of Trade Aid in New Zealand.  He was forlorn over the growing reality of what he called mass consumerism. It's bad, and there we were heading into Black Friday, Cyber Monday, Christmas shopping and Boxing Day sales, and all he was seeing was mass consumerism.  It's the old argument, isn't it? You'd probably get a decent res...

The new traffic light system puts more responsibilities on businesses to enforce vaccine mandates and rules around proof of vaccine passes.  Employsure Employment Relations Specialist Maddie McKenzie told Kate Hawkesby the feedback is mixed.   "Employers are concerned they're losing some of their best employees because of the vaccine mandates." She said, even where vaccine mandates stand for certa...

Signs business leaders are becoming more aware of social issues outside the workplace.    The Institute of Directors have released their sentiment report, looking into the mood of board directors.   50-percent believe CEOs should be speaking out on social issues such as climate change and mental health.  Chief Executive Kirsten Patterson said it shows times are changing.  She said boards do need t...

Economists have been hiking their expectations for Fonterra’s milk payment to farmers for this season, with most now expecting the co-operative to pay the highest level since it was founded 20 years ago.   The Country’s host Jamie MacKay discussed this with Heather du Plessis-Allan.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Toys, building products, bikes. Chances are you're having trouble sourcing them at the moment.  But, there might be light at the end of the tunnel.  Sam Dickie from Fisher Funds told Heather du Plessis-Allan why he thinks the global shipping crisis is wrapping up.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Real wages have suffered the biggest fall in more than a decade as rising costs outrun pay rises, according to a new ANZ report.  Liam Dann, NZ Herald's business editor, joined Heather du Plessis-Allan to discuss the fall.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Pharmac is potentially a good model, but there are issues.  A panel reviewing the drug buying agency has released its interim report on its operation.  Review chair Sue Chetwin says told Heather du Plessis-Allan Pharmac's under increasing challenges from consumers, patient advocates and clinicians.   She said the big concerns are mostly the same from everyone.   They’re all around access to medici...

The talk of Ikea coming to New Zealand is finally becoming a reality.  The Swedish furniture company's signed a deal to buy 3.2 hectares of land at Auckland's Sylvia Park, the country's largest shopping centre.  First Retail Group's Chris Wilkinson told Heather du Plessis-Allan it's a very logical location.  “It’s a regional centre.”   He said it will service all people, not only from across Auckl...

You can't hide from simple statistics, because they are the truth and the reality.  And this week's stats show there are fewer businesses opening in this country than closing.   That's not just bad news, it's an indictment on the economic governance of this country.  Yes, it's a pandemic, but the narrative is this country is doing well economically. It isn't doing well economically.  It's doing we...

Security experts are warning kiwis to be extra cautious when buying toys online this Christmas.   Cyber criminals are banking on global supply issues and people's frustrations, in order to offer dodgy deals online.  ‘If it's too good to be true... Then it probably is.’  Dean Williams is a systems engineer for NortonLifeLock and joined Kate Hawkesby from Australia.  LISTEN ABOVE See omnystudio.com/...

The combined Government and Auckland Council voucher and discount programme is being described as nice idea, but not enough.  The $37.5 million fund includes 100-thousand vouchers for Aucklanders this summer, in a bid to reactivate the city  They can be used for a range of attractions and public facilities - but nothing for hospitality.   Heart of the City chief executive Viv Beck told Mike Hoskin...

The Waikato Chamber of Commerce is throwing their weight behind the idea of relocating Fonterra's headquarters back to the heartland.  Fonterra is currently based in the Auckland CBD.   Waikato Chamber of Commerce CEO Don Good told Heather du Plessis-Allan location makes it easier for them to make with their key shareholders. "It's important, especially if you want to give them the best return the...

November was a tough month for the NZX with the market down 2.9%.   Sam Trethewey from Milford Asset Management joined Heather du Plessis-Allan to share what he thought was behind this.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The general public has reacted pretty positively to Christopher Luxon as the new National Party leader.  But the question is, will business fall behind him as well?  Hamish Rutherford is the NZ Herald's Wellington Business Editor and has been sounding out some business voices.  He told Heather du Plessis-Allan there will be a sense relief.  "This is a guy who has run major organisations...He clear...

Christchurch Airport is beginning its transition towards a low energy future.  The city's international airport has announced it's committing 400 hectares to create a renewable energy park with a solar farm.  CEO Malcolm Johns told Heather Du Plessis-Allan the airport will be platform to help other organisations de-carbonise their sector.  “Our focus in this precinct is to be a landlord and to bri...

Auckland hospitality providers are "crushed" to be left out of the city's reactivation budget.   The Government, Auckland Council and Auckland Unlimited have put together a $37.5 million fund to revitalise the city.   It includes a $12-million voucher programme for discounts on commercial attractions and public facilities - but not hospitality.   Restaurant Association chief executive Marisa Bidoi...

ANZ Bank's Business Outlook for November is a mixed bag. Business Confidence fell 3 points from October, a slight improvement on the preliminary reading. The reading of Own Activity Outlook fell by 7 points which is trending down. JMI Wealth director Andrew Kelleher told Mike Hosking it's a very clear signal that inflation pressures are extreme. He said he's a little bit worried about Profit Expec...

A world-first automated beef boning system made in Dunedin hopes to solve worker shortages. The high-speed technology, combining X-ray vision with robotic and mechanical automation, can process 200 carcasses an hour. Scott Technology Chief Executive John Kippenberger told Kate Hawkesby rural companies in New Zealand, Australia and the US have been struggling with labour supply. “Automation was imp...

House values continue to rise out of reach of many young Wellingtonians. The latest rating valuation has been released by QV. Over the past three years, the average home value across Wellington city has increased 60.4 per cent to sit now at more than $1.4 million. All of the capital's suburbs now have an average value above $1 million and land value across the city has increased to more than $980,...

An Auckland video production company is facing a bit of bad luck with its name.  Omnicrom has been around since the 1980s. And not to be confused with the new Covid strain Omicrom.    Founder Ondrej Havas told Heather du Plessis-Allan they've had the name for 40 years. "Fortunately, three years go, we changed our brand to Video Taxi."  He said they've mostly retired that name. Havas said to change...

Infometrics Principal Economist Brad Olsen joined Heather du Plessis-Allan to discuss the slight increase in filled jobs, the impact of the distribution workers' strikes and how businesses in the red light districts will fare.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A South Island music festival is going ahead but it's unclear whether two North Island ones will open their gates. Rhythm and Alps in Wanaka is due to start on December 29 after the area was given an orange light. Director Alex Turnbull told Mike Hosking they're good to go because they check Vaccine Passes as people buy their tickets. He's not sure whether Rhythm and Vines in Gisborne and Northern...

A tragic reminder of the pressures entrepreneurs face. Founder of Unfiltered and Oompher Jake Millar died this week while working in Kenya. The 26-year-old ran into some trouble with Unfiltered and ended up selling it to his business partner Jamie Beaton. Crimson Education founder Jamie Beaton told Mike Hosking Jake was a tall poppy and had some struggles along the way. “A lot of the, I think, neg...

By the sounds of things, there is still bargaining going on for National Party leadership. NZME Business commentator Fran O’Sullivan told Heather du Plessis-Allan that both Christopher Luxon and Simon Bridges, the two main contenders for leadership, are auditioning for Prime Minister. "They’re not really not auditioning to be Leader of the Opposition. This is a fairly significant pitch by both of...