Best of Business

Former Reserve Bank Governor Adrian Orr is in for a significant payday. He resigned in March, following a funding disagreement, with tensions between Treasury, the bank, and the Finance Minister. The central bank's annual report shows Orr will receive a $416,000 restraint of trade payment this month. Finance Minister Nicola Willis says she wasn't informed of this until today. "I had been assured t...

There's growing calls for New Zealand to regulate AI, amid concerns that the nation is falling behind on this matter. It's been revealed that Meta has been data scraping the accounts of users in New Zealand and Australia due to the lack of regulations - in order to train AI. AI expert Dr Andrew Lensen says the EU is leading the way with its AI Act - and it's something other countries should be loo...

Move over Murdoch family - there's a new set of media moguls looking to make a name for themselves. Larry Ellison, founder of the software firm Oracle, and his son David are orchestrating media deals which could see them owning big names like CNN, Paramount and TikTok. Fisher Funds expert Sam Dickie explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Wool prices have seen a significant rise this week, and there's a few key factors behind this development. Currently, wool prices are on the longest rise since 1987 - and while these prices are mostly benefitting Australian farmers, there's hope Kiwis could benefit from this demand too. The Country's Hamish McKay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Warehouse Group's chief executive is confident he can turn the retail giant around.  It's reporting an annual net loss of $2.76 million dollars - a major improvement from last year's $54.2 million dollar loss. Noel Leeming is performing the best, with revenue up 3.3 percent. Chief executive Mark Stirton says they're moving away from a digital focus to give more attention to shoppers in-st...

A property mogul developing some of Wellington’s most infamous quake-prone sites has voiced support for recent Government changes, but says these won't slow down his large-scale projects. Eyal Aharoni is currently working on reopening the long-closed Reading Cinema complex on Courtenay Place and the nearby Amora Hotel, which closed in 2019 and 2017 respectively because of earthquake damage. Earlie...

The Government recently unveiled its highly-anticipated energy sector announcement and it's prompted good news for the energy companies. The share price for New Zealand's major gentailers raised on the NZX, with Meridian seeing a 5 percent increase. Milford Asset Management's Michael Luke explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government finally unveiled its plan to address issues impacting the energy sector, and it's prompted a mixed response. The country's largest power companies have responded positively, and their shares have jumped on the NZX as a result. Meanwhile, consumers and other businesses have voiced concerns this doesn't address the status quo. Consumer NZ CEO Jon Duffy has criticised this announcement...

The Australian Reserve Bank will keep the Official Cash Rate on hold at at 3.6 percent. The RBA's Governor, Michele Bullock, says Australia is in a 'difficult position', but they're committed to addressing inflation. HSBC chief economist Paul Bloxham explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Prime Minister Anthony Albanese recently confirmed he invited LuLu Hypermarket to set up in Australia while on a visit to the United Arab Emirates. This comes as Australia looks to develop a new free trade agreement with the Middle Eastern nation.  Australian correspondent Murray Olds says a new player in the grocery market would help break up the current duopoly.  LISTEN ABOVE See omnys...

Synlait has confirmed the sale of its loss-making factory at Pōkeno to US company, Abbott. The infant-formula company is selling the site and related assets for $307 million, and will use the proceeds to pay down debt. Harbour Asset Management expert Shane Solly unpacks the data further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government recently confirmed they were going to overhaul the assessment of earthquake-prone buildings - a move welcomed by property owners and building engineers alike. The changes will leave just 80 buildings needing full retrofits and 1500 buildings will still need some remediation - many of them in Wellington. Property Institute CEO Leonie Freeman has welcomed these changes and c...

A New World worker's taken to social media to complain about an incoming water bottle ban.  A Reddit user made a post stating their store's banning staff from having their bottles at checkout, with management telling them they can drink during breaks.  Rudd Hughes from the Workers First Union says this isn't the first time they've seen this, and might stem from customer service concerns....

A shake-up to the quake-prone building standards could be a reprieve for iconic properties facing large retrofit bills. The Government's loosening the regime to only capture buildings genuinely posing a risk to life in medium and high seismic risk zones.  It'll mean only 80 will need full retrofits and 15,000 will still need some remediation.  Building and Construction Minister Chris Pen...

Australian telco giant Optus  is investigating another network outage that led to nine failed triple-0 calls on the NSW south coast. Optus has issued a statement saying the problem stemmed from a mobile phone tower site in Dapto. It affected calls between 3am and 12:20pm on Sunday, including calls to the triple-0 network. Australian correspondent Oliver Peterson says this incident will cause...

New Zealand's economy has been shrinking, but our largest company has seen profits surge. Fonterra's announced a 13 percent rise in annual operating profit. Its cash return to shareholders is up 30.6 percent, and its final farmgate milk payout to farmers has reached a new record high of $10.16 per kg of milk solids. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/liste...

Oil and gas exploration applications have reopened for the first time since the 2018 ban. Companies can now apply for new prospecting and exploration permits anywhere in the country - not just onshore Taranaki. An open market application pathway's also being introduced to allocate new permits, in addition to the current competitive tender process. Energy Resources Aotearoa chief executive John Car...

Fonterra's CEO says cheaper butter prices could be on the horizon.  The dairy co-op's announced a 13 percent rise in annual operating profit and a record-high final milk payout of $10.16 per kg. Chief Executive Miles Hurrell says it's a great result for farmers.  He says the price of wholesale butter globally has fallen 15 percent in the past two months. "At some point, that'll flow thro...

Telco provider 2degrees made a net loss attributable to shareholders of $18.2 million for the 2025 financial year. Despite this, operating earnings and overall revenue, plus revenue in key product categories such as mobile, broadband and energy, were up. CEO Mark Callander says it's a tough economic environment - but the company's hoping things will pick up. LISTEN ABOVE See omnystudio.com/listene...

Treasury has raised the alarm over the state of New Zealand's public finances as part of its long-term fiscal forecast. Record levels of Government spending, increasing health costs and an ever-growing aging population are among the concerns set to create additional fiscal pressures for the country, according to new reports. Treasury warned Net Core Crown Debt is set to hit 200 percent of GDP by 2...

AI and technology stocks are continuing to have a significant presence in the market - but which companies are leading the charge? Broadcom and Oracle are among the companies that have generated positive results, and Nvidia made headlines following its $100 billion investment in OpenAI. Milford Asset Management's Andrew Curtayne explained further. LISTEN ABOVE See omnystudio.com/listener for priva...

The Commerce and Consumer Affairs Minister is not sharing the same fears as retailers over the surcharge ban. Scott Simpson says the legislation banning surcharges like PayWave is before the Select Committee and will be in place by next year.  36 business associations have written a letter warning the ban could be passed on through increased prices. Simpson says a lot of businesses don't use...

Three hundred potential candidates were identified in the hunt for our new Reserve Bank Governor. The role has gone to Anna Breman, who was the First Deputy Governor of Sweden's central bank. Finance Minister Nicola Willis says it was a a tough competition amongst candidates. "The Reserve Bank went through a process of both advertising and also doing a large international search to consider people...

The new Reserve Bank Governor is pledging to build trust and credibility. Sweden's Anna Breman has been announced to lead  the central bank, taking over from interim Governor Christian Hawkesby in December. She'll be the first woman to ever hold the role - selected from more than 300 candidates who were initially identified. Newstalk ZB reporter Azaria Howell says Breman has revealed the new...

You know how the Prime Minister does a very good job of batting away poll results and saying that his focus is fixing up the joint after the last lot and that he’ll wait until election day to be judged? I don’t think he will find it quite as easy to do that with these results out today from the NZ Herald’s annual Mood of the Boardroom survey. The annual survey of about 150 business leaders – 125 o...