Best of Business

Fonterra's forewarning farmers falling global dairy prices could hit their bottom lines. The dairy co-op recently cut its seasonal farmgate milk payout midpoint forecast - from $10 to $9.50. It paid out $10.16 last season. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank is set to make an announcement this week, and experts are expecting at least one more cut to the OCR. Markets are projecting the OCR will be cut down to 2.25, and they've priced it in accordingly. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New surveys show Auckland business confidence is on the up, with reports indicating businesses are feeling less pessimistic ahead of the new year. Auckland Business Chamber CEO Simon Bridges says the latest November survey shows the city isn't 'out of the woods' but it's no longer 'stuck in the darkest part of the forest'. Bridges says there's room for the economy to improve, but the OCR's coming...

Let's talk about Air New Zealand. Look, if I was Air New Zealand, I would feel pretty beaten up after the weekend's opinion pieces. Bruce Cotterill  wrote a piece in one newspaper complaining that if Air New Zealand want to charge as much as they do, then they have to do the job better and be on time more often. And then, Sam Stubbs wrote a piece in another newspaper telling them to stop over...

New Zealand farms and food producers appear to be outpacing other countries when it comes to reducing food waste. A report commissioned by the Ministry of Environment reveals more than 1.2 million tonnes of food is wasted or thrown away here every year. The total proportion of food wasted is between 5 and 10 percent - considerably lower than the global estimate of 30 to 40 percent. University of O...

Up to 15,000 passengers could be disrupted if Air New Zealand cabin crew go ahead with strike action next month. The airline's largely unionised crew plan to strike on December 8th demanding greater salaries and allowances. The flagship carrier's assessing the potential effect on operations. Expert and advisor to business leaders, Bruce Cotterill, says people have high expectations when it comes t...

It’s hard enough to chase a scientific breakthrough.  But as New Zealand company Ārepa found out it's even harder and more expenisve to defend your breakthroughs time and time again. Ārepa was founded in 2017 and the so called “brain drink” company was growing at a rapid pace when at the end of 2023, they hit a massive speed bump. That's when the Ministry for Primary Industries and an Aucklan...

Despite growing concerns about the AI bubble, Nvidia's shown it won't be popping any time soon. The company's quarterly results have smashed expectations and it recorded a 22 percent jump in profit from the previous quarter. Fisher Funds expert Sam Dickie explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Zespri has issued its November forecast for the 2025/26 kiwifruit season, and it's predicting some solid results. At a per-hectare level, record returns are currently projected across all categories. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Australian teenagers have been warned their accounts of Facebook, Instagram and Threads will be shut down ahead of the country's incoming social media ban. Meta has confirmed it has started notifying users between 13 and 15 years old by text, email and in-app messages that their accounts would be deactivated come December.  Australian correspondent Murray Olds says Meta has encouraged young u...

The Government is delaying hiking the levy most home owners pay via their private insurers to fund the Natural Hazards Commission until 2027. The $552 levy was supposed to go up by between $207 and $311, but reports claim ministers are still considering their options, with Finance Minister Nicola Willis saying she didn't want to make a 'hurried decision'. NZ Herald Wellington business editor Jenee...

The Reserve Bank is set to reveal their latest OCR update next week, but experts aren't feeling too hopeful about the economy. GDP is down and the labour market remains weak, and many are feeling less optimistic. Milford Asset Management's Brendan Larsen explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A warning our major political parties need to display more bipartisan planning so we don't buckle to a dwindling population and economic growth.  Business NZ's report warns a labour shortage of at least a quarter of a million is expected before 2050, and there's also a one in four chance the population doesn't grow. Business Canterbury Chief Executive Leeann Watson told Andrew Dickens says ma...

A big turnaround for fisheries company Sanford with the reveal of their latest profits.   They’ve reported an after-tax profit of $63.7 million – a 224% increase for the year to September.   Cash flow was also up 85%, helping cut debt by nearly half to $93.4 million.  Sanford Managing Director David Mair told Mike Hosking that by focusing on customers, they’re turning the business a...

Bold, bipartisan centred planning is key to ensuring New Zealand doesn't succumb to the effects of a dwindling population and economic growth.   A new BusinessNZ report's calling for a cross-party vision and long-term goals to strengthen the country by 2050.   It notes a labour shortage of at least a quarter of a million is expected before then, and there's also a one in four chance the...

New Zealand's largest mānuka honey producer's voted down a richlister takeover bid, leaving its fate in limbo.  Comvita received an offer of 80-cents-per-share in August from Florenz - a subsidiary of Christchurch billionaire Mark Stewart’s Masthead Limited.  Comvita CEO Karl Gradon explained how the company could bounce back. LISTEN ABOVE See omnystudio.com/listener for privacy informat...

Prices are soaring for food staples, with prices up 4.7 percent on a year ago. Stats NZ data for October shows cheese, instant coffee, eggs and milk had some of the largest surges.  Gas rose 14.4 percent and electricity almost 12 percent Infometrics chief executive Brad Olsen says fruit and vegetables are cheaper - but not meat. "A couple of months ago, right, we were talking a lot about butt...

The Government is planning to increase fines for breaching the Fair Trading Act - from 600-thousand dollars to five-million. It is announcing a swathe of changes to crack down on businesses and individuals breaking consumer laws.  The cases could also be moved from the criminal court to the Civil Court to make prosecution easier.  Consumer NZ Chief Executive Jon Duffy told Mike Hosking t...

New Zealand produces enough food to feed 40 million people. Some of it we consume and some some we export.  But a staggering 30% of the food we make or grow goes to waste.  Fruit and vegetables need to look a certain way to make it onto supermarket shelves – or they get tossed.   Angus Simms and his partner Katie Jackson wanted to tackle that problem - so they started Wonky Box thre...

A shareholder vote to approve a takeover bid for Comvita has not gathered enough votes to proceed.   The bid from Florence to buy Comvita at 80 cents a share required 75% support from shareholders to go through.   Although the official vote count has not been released, we know that the numbers fall short of the margin.   Octagon Chief Investment Officer Paul Robertshawe told Heather...

The price of gold continues to hit new highs, and speculators are wondering whether they should invest. Gold has seen the strongest year since the 1970s, largely thanks to volatile markets and economic uncertainty.  Fisher Funds expert Sam Dickie explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government says it will act on all 19 recommendations from Parliament’s banking inquiry - and it's committed to increasing scrutiny around the banking sector. This comes as Westpac and ANZ report significant increases in profit, prompting concern from experts. Kent Duston from the Banking Reform Coalition says the proposed changes make good steps forward, but it's unclear how much of a differe...

One NZ-based think tank is floating the idea of KiwiSaver schemes for kids, claiming it could set them up with $10,000-$20,000 in savings by the time they reach adulthood. The Institute for Democratic and Economic Analysis has put out a report proposing different models, including a kickstart Government payment and matching parental contributions. Max Rashbrooke, co-founder of the Institute for De...

Andrew Mountbatten-Windsor is closing down some of his last remaining known business interests, including Pitch@Palace Global Ltd. Pitch@Palace was a start-up project where aspiring entrepreneurs could present their ideas to potential investors - and was once seen as a possible income source for Andrew after the King stopped supporting him financially. UK correspondent Gavin Grey says it's a final...

The long-running US Government shut-down has come with plenty of economic ripple effects, but there's hopes it could come to an end. The 41-day shutdown could last a few more days, but the the Senate passed legislation to attempt to reopen things. Milford Asset Management expert Jeremy Hutton explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.