Best of Business

Our largest sector is continuing to do it tough.  Latest data from BNZ and Business NZ shows our services sector —which makes up almost three quarters of the economy— has contracted for the 18th consecutive month.  Our manufacturing sector is also back in contraction after a period of growth.  Business NZ Chief Executive Katherine Rich told Mike Hosking we're still seeing a tale of...

New data suggests New Zealand's economic turmoil is far from over. New economic data from Stats NZ prompted BNZ to increase its estimate of the size of the contraction in the economy in the three months to the end of June. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new service has been launched that's designed to show mobile network outages in real time. The service builds on the Hourua partnership between Spark and One NZ, and experts believe it'll be helpful for operations taking place during natural emergencies, such as cyclones. One NZ CEO Jason Paris says this development means services will be able to be restored during emergencies much quicker. LIST...

Nicola Willis has responded to protesters chained to the outside of her Johnsonville electorate office. The group of Christian leaders want an urgent timeline from the Government for implementing sanctions against Israel over the war in Gaza. They're praying and fasting - and say they're prepared to stay overnight. Willis says she supports the right to protest, however they're getting in the way o...

More events across the board could be coming to Auckland's Eden Park. RMA Minister Chris Bishop will lead an investigation into local rules impacting the number of concerts and sporting events that can be held and curfews impacting how long they can run for.   Currently, only 12 music events and 25 night-time sports fixtures can be held each year, while conferences can't have more than 2000 p...

Over the last few years, more international retail giants have moved to establish themselves in New Zealand. Costco opened its first store in West Auckland a couple of years ago, and Ikea is set to open up its first New Zealand-based store in Auckland in December. Fisher Funds expert Sam Dickie reveals why these changes are taking place. LISTEN ABOVE See omnystudio.com/listener for privacy informa...

New Zealand’s finance leaders are more confident for the year ahead.  A new report from the Hunter Campbell Group shows an uptick in confidence from CFOs, with 38% expecting modest to strong growth over the next 12 months – up from 31% last year.  But on the flip side, confidence in the Government’s ‘responsiveness’ remains low across the board.  Hunter Campbell Managing Partner Lee...

Jetstar has unveiled its biggest expansion ever of its New Zealand and Trans-Tasman network.  It's adding new routes from Brisbane to Queenstown and Hamilton to Christchurch, and increasing capacity on five domestic and trans-tasman routes - creating a total of more than 660,000 extra seats a year. Tourism Minister Louise Upston says this is proof more airlines have confidence in what New Zea...

The cost of living crisis is hitting New Zealanders hard, with many putting retirement savings on the backburner. The number of people contributing to KiwiSaver fell for the first time in the year to March 2025, according to the Financial Markets Authority’s annual KiwiSaver report. FMA chief executive Samantha Barrass says these difficult circumstances have forced people to make 'difficult choice...

New reports have revealed that more people are taking advantage of AI when it comes to making investment decisions. A recent survey claims at least one third of Kiwi investors are using AI to make investment decisions, with 64 percent of respondents between 18 and 29 utilising the technology. Chartered Accountants ANZ Reporting and Assurance Leader, Amir Ghandar, says concerns have been raised, wi...

New Zealand red meat prices are at record levels and are forecast to remain strong throughout the coming year, despite concerns about inflation. Board chair Kate Acland says the outlook is positive, with tight global supply set to keep demand high. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Rupert Murdoch’s children have reached a settlement in the legal dispute over control of the right-wing media mogul’s companies, with son Lachlan set to take over. The new deal establishes a trust to replace the Murdoch Family Trust that had included all the siblings and half-siblings. Under the agreement, Prudence MacLeod, Elisabeth Murdoch and James Murdoch will receive cash based on equity sale...

ANZ's Australian parent recently announced a significant restructure, which would see about 3500 employees losing their jobs by September 2026. ANZ Group said it would also reduce engagements with consultants and other third parties as part of the restructure. Australian correspondent Murray Olds explained the impact of the restructure. LISTEN ABOVE See omnystudio.com/listener for privacy informat...

Recent US payrolls data has indicated the economy is slowing, and it's sparked concern among investors. Economists are calling on the US Federal Reserve to lower interest rates  at its September 16-17 meeting, in what would be its first reduction in nine months. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

An economist has raised concerns over NZ First's proposed reform for KiwiSaver contributions - and claimed they're not feasible. NZ First recently promised to make it compulsory and increase contributions from employers and workers to 10 percent - offset by a tax cut. Simplicity chief economist Shamubeel Eaqub says he approves of the idea of a compulsory scheme, but warns we can't afford a tax-fun...

Equity markets have taken a turn this September, and it's prompted concerns among experts. Markets are softening a bit, which is a remarkably regular occurrence in September.  Sam Dickie from Fisher Funds reveals what's going on. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's only three months until New Zealand's first Ikea store opens its doors in Auckland's Sylvia Park. The Swedish furniture giant's 34,000 square metre store will host seven-and-a-half thousand products. It'll also see its restaurant open with foods like its famous Swedish meatballs.  Ikea NZ Market Manager Johanna Cederlöf says they've already hired 200 people, with 320 more joining soon...

A busy reporting season has concluded for the NZX-listed companies, with some doing better than others. A2 Milk stood out as a success story from this season, but other listed businesses haven't fared so well. Milford Asset Management's Jeremy Hutton explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There are fears the Government’s proposal to change who is liable for shonky buildings risks leaving homeowners in the lurch. The Government is proposing to prevent local councils from being lumped with big bills if they consent buildings that turn out to be leaky or defective. NZ Herald Wellington business editor Jenee Tibshraeny reveals why homeowners have voiced concerns. LISTEN ABOVE See omnys...

Now, we need to talk about that Amazon announcement yesterday. These guys have taken us for fools in this country. They've looked at us in New Zealand and they've gone, let's take these guys for fools. That $7.5 billion wasn't new, it was already announced by Jacinda 4 years ago. It's not even actually a convincing number, because it looks like what they've done here is included their po...

Stats NZ came out with the latest trade data for New Zealand - and the results show good news for exporters. Exports were up 9.9 percent in the year to June and imports were up 3.2 percent. HSBC chief economist Paul Bloxham explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's hopes the promised 1,000 new jobs created from Amazon's locally based data centres will go to Kiwis. The tech giant's investing $7.5 billion into the Auckland-based centres, which go live today. It'll mean New Zealand customers can use the new cloud region to run workloads and store data locally. Amazon Web Services country manager Manuel Bohnet says they're taking a long-term view with th...

A luxury real estate agent says there's huge interest only in two areas of New Zealand, with the Government's planned loosening of the foreign buyers ban. By next year, Active Investor Plus visa holders will be able to build or buy homes worth at least $5 million. They’ll still need to invest another $5 million separately to qualify. Forbes Global's Anthony Mosinkhof says Auckland and Queenstown a...

A tech commentator has weighed in on the arrival of Amazon's new Auckland-based data centres, which are set to be built in Auckland. The tech giant's investing $7.5 billion dollars into the centres, which go live today. It'll allow New Zealand customers to store data locally and speed up cloud-based services. Peter Griffin joined the Afternoons team to explain further. LISTEN ABOVE See omnystudio....

New economic data impacting the US came out last week and it's got experts speculating over whether rate cuts will come. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.