Best of Business

Spark's becoming the first New Zealand telco to block all child sexual abuse images made with artificial intelligence. It already stops access to photo-realistic material made by AI, but this move will extend to images which have a cartoon or artistic style. The website list comes from the Internet Watch Foundation which has seen a 400 percent increase in this type of material. Spark Sustainabilit...

Mooove over dairy and beef cows, for a new hybrid breed on the block. Pāmu and Livestock Improvement Corporation have created a new cattle breed - called the Synegizer. About 350 first-cross beef-on-dairy calves were born this year, and limited frozen insemination will available next spring. Pāmu CEO Mark Leslie says dairy farmers won't use Synegizers for milking. "These bulls will be used to go o...

Revenue in the hospitality sector's reached a new record high, but many operators are seeing profit margins reach a new record low.  Restaurant Association data shows sales have risen 1.4% in the past year.  Tourism regions like Nelson and Queenstown-Lakes are seeing strong growth but central Auckland and Wellington are still doing it tough.  Association Chief Executive Marisa Bidoi...

New reports indicate the Reserve Bank of Australia won't be cutting interest rates until at least February 2026. Employment remains high and inflation is still at target, and experts claim the central bank has no reason to do anything big. HSBC chief economist Paul Bloxham explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Air New Zealand's teamed up with Air Chathams on a new partnership for Whakatane. It'll mean customers can book single-ticket trips that combine domestic flights on both airlines. Checked-in baggage will be transferred directly to the final destination. Air New Zealand's Chief Transformation and Alliances Officer, Mike Williams, explained what the partnership could mean for both airlines. LISTEN A...

Changes to lending restrictions are on the cards. Finance Minister Nicola Willis is welcoming the Reserve Bank consulting with banks on easing loan to value restrictions from December. The central bank's looking at increasing the new lending limit for first-home buyers and property investors. Banking Association CEO Roger Beaumont says this is really good - and will give first-home buyers more fle...

Fletcher Building's issued a gloomy trading update, marked with trading slumps, market falls and low sales volumes. The company's now aiming for a further $100 million dollars in cost cuts. Harbour Asset Management's Shane Solly explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The IRD is set to be cracking down harder on those who don't pay their taxes properly, and they've unveiled new measures for people who ignore correspondence. The department will start taking money out of people's bank accounts if they owe over a certain amount - and they've recovered at least $17 million so far. The IRD's Tony Morris says they aim to phone people at least twice before they start...

China’s hotels are taking a hit, as a struggling economy hurts domestic spending.   China’s economy has been in decline for the past 4 years, and now budget hotels are having to slash their prices despite being full.  Asia business correspondent Peter Lewis told Heather duPlessis-Allan that this is partly due to unemployment rates, with 1 in 5 Chinese people under the age of 24 being une...

Artificial intelligence technology continues to attract attention from investors, but there's growing concerns over an 'AI bubble' situation. Officials at the Bank of England recently flagged the risk that tech stock prices pumped up by the AI boom could burst. Fisher Funds expert Sam Dickie explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's been concerns out of Parliament over Fonterra's future. Peters is asking the dairy giant questions about its proposed nearly $4 billion dollar sale of brands like Anchor and Mainland to a French company. He's laying out a number of questions, including how long the deal is, and if it's repeating mistakes from the past. The Country's Hamish McKay explained further. LISTEN ABOVE See omnystud...

Treasury has revealed the state of the Government’s finances, and it's been revealed that spending has dropped. The country's still in an operating deficit of $9.3 billion, but tax take has gone up and growth in total expenses has slowed. Infometrics principal economist Brad Olsen unpacks what's behind this recent data. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance, prompting speculation. This follows other companies backing out of climate initiatives, with the Net Zero Banking Alliance confirming it was set to shut down earlier in the week. Agribusiness expert Dr Jacqueline Rowarth says it's likely the Alliance didn't move fast enough for Nestle, and they're taking their support...

The Reserve Bank's continuing to walk a fine line, with its move to cut the OCR 50-basis points to 2.5%.  Economic data suggests inflation has now hit 3%.  Finance Minister Nicola Willis is blaming rising rates, saying they’re having a disproportionate impact on overall inflation, whereas other sectors are stabilising.  NZ Herald Business Editor Liam Dann told Kerre Woodham we almos...

The biggest upshot of the latest OCR cut is likely to be the boost to consumer confidence.  The Reserve Bank's slashed the cash rate by 50-basis-points to 2.5%.  Major banks are responding by lowering floating and flexible rates after already lowering their fixed-term rates in recent days.  ABC Business Sales Chief Executive Chris Small told Mike Hosking businesses will benefit more...

The Reserve Bank today slashed the OCR by 50 basis points to 2.5 percent, prompting markets to make readjustments. This recent cut wasn't full priced in, and it's got some experts re-thinking their OCR outlooks ahead of the end of the year. Milford Asset Management's Remy Morgan explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Good news - the Reserve Bank has finally done the thing many of us thought was necessary, and they've gone for a double cut in the OCR of 50 basis points. That's the good news. The bad news is that they've been forced to do it because they didn't do it earlier, as in, they haven't cut as quickly as they should have. I mean, think back to July when they actually chose not to cut at all, which...

Queenstown Airport is flying high, thanks to a surge in visitors. It's been named Large Airport of the Year at the national awards - with judges praising its strong safety record, commercial success, and community engagement. They were also impressed with its new end-of-runway safety system. Chief operating officer Todd Grace says the airport's seen strong growth since Covid. He says they're the o...

Today's 50 basis point OCR cut could go some way to getting our economy growing again. The Reserve Bank's slashed the cash rate to 2.5 percent. ANZ has lowered its floating and flexible rates, on top of all major banks already lowering fixed term offerings. Kiwibank chief economist, Jarrod Kerr, says he's been calling for a 2.5 percent cash rate for two years. "We knew it needed to go below neutra...

The Reserve Bank has cut the OCR by 50 basis points to 2.5 percent, despite acknowledging inflation is still above where they'd like it. Finance Minister Nicola Willis says they've factored in broader economic conditions. She says the central bank clearly thinks any fluctuation in inflation will be constrained by spare capacity in the economy. Newstalk ZB senior political correspondent Barry Soper...

Today's OCR cut probably won't be the last in the current cycle, according to new claims. The Reserve Bank's Monetary Policy Committee agreed to cut the cash rate 50 basis points to 2.5 percent. They expect the tough economic conditions to stop inflation getting too high. NZ Herald Business Editor at Large Liam Dann says there's definitely scope for at least one more cut. LISTEN ABOVE See omnystud...

Trade Minister Todd McClay has confirmed trade negotiations with India are progressing - but there's still a ways to go. New Zealand and Indian trade negotiators met in Queenstown last month for a third round of formal negotiations for a free trade agreement. The Country's Hamish McKay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Former All Black Mils Muliaina is set to trade rugby fields for the boardroom as he steps into his new role. He recently joined the Auckland Business Chamber board, becoming its first Pasifika director in the organisation's history. Mils Muliaina says this new role came to him as a surprise, but he's welcoming the new opportunity.  "I'm supposed to provide a voice for the communities, especia...

ASB has agreed to pay $135.6 million to settle a class action after it was accused of breaching its disclosure obligations under the Credit Contracts and Consumer Finance Act. The case against ASB alleged failures to provide compliant written disclosure of loan variations to a significant number of customers. ANZ is still hanging on as the remaining defendant of the class action. Scott Russell, th...

The Commerce Commission has ruled out an inquiry into airport regulation, for now. Air New Zealand had written to the regulator, saying there was enough 'accumulated evidence and concern' to justify a probe. The Commission has done a 'short, targeted review'. Air New Zealand Head of Regulatory Affairs Kristy McKay revealed why she's pleased with this outcome. LISTEN ABOVE See omnystudio.com/listen...