Best of Business

New Zealand's exporters are seeing success, with the total value of exports adding up to $8.9bn in May.  This is a rise of $1.4bn from last year, and red meat is the biggest driver. It's jumped 43% year on year - with frozen beef being particularly successful.  Beef and Lamb Chair Kate Acland told Heather du Plessis-Allan that the success is due to a combination of factors.  "High d...

Businesses in the capital are looking forward to more certainty, with the controversial Golden Mile project now officially canned.   Councillors voted yesterday to scrap the CBD upgrade plan in favour of more modest upgrades.  It follows a review last week finding further budget blowouts were likely.  Wellington Chamber of Commerce Chief Executive Hayley Horan told Mike Hosking busi...

Kevin Warsh made his debut at the wheel of the US central bank today, and it's prompted a divided response. The Federal Reserve unanimously voted to keep interest rates unchanged today. Sam Dickie from Fisher Funds explained further.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Farmer confidence has fallen slightly, as the impacts of the Iran war continue to be felt. Rabobank's latest survey shows 29 percent of farmers expect things to improve in the coming year, down from 39 percent last quarter. Growers are feeling more negative. The Country's Jamie Mackay explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand's continuing to feel the knock-on effects of continuing economic downturn - but is there light at the end of the tunnel?  The latest data shows GDP rose 0.8 percent in the March quarter, before the fuel crisis started to hit. However, EMA Head of Advocacy Alan McDonald is urging caution at this stage. "Everyone's kind of hedging their bets a little, but those underlying good facto...

New Zealand's economic recovery had been gaining momentum before the Iran war and fuel crisis hit. Today's figures show GDP rose 0.8 percent in the March quarter. That was driven by manufacturing, business services and wholesale trade, particularly production of equipment and food. Newstalk ZB senior political correspondent Barry Soper says there's still indicators the economy could rebound - assu...

Our economy was well on the way to recovery, driven by a resurgence in manufacturing, before the fuel crisis hit.  Stats NZ data out today shows GDP rose 0.8% in both the quarter and year to March.  Equipment manufacturing, food production, accounting and businesses services, wholesale trade, and agriculture were all doing well.  But mining had a big drop, as well as residential and...

Elon Musk's SpaceX company has overtaken Amazon as the fifth most valuable in the world. It comes after a surge in its share price, driven by it joining New York's Nasdaq stock exchange, and the announcement it's buying an AI startup firm for $100 billion dollars. Milford Asset Management expert Remy Wisenberg explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fletcher Building has asked ratings agency Moody's to withdraw its credit rating of the company, as it reports continued pressures on its business and looks to cut debt. The company has Moody's lowest investment grade rating of Baa3 rating, below which is considered a speculative grade and outside the limits for most institutional investment. Generate investment specialist Greg Smith says the comp...

There's been a spike in the number of wealthy Australians expressing interest in property across the ditch. New reports show there's a surge in interest in homes in and around Queenstown since the Australian budget was released in May. Queenstown real estate agent Hamish Walker says Trade Me and similar property websites are seeing more demand from Aussies than ever - with older buyers especially...

Counteroffers have become a widespread retention tactic in today’s hiring market, but questions have been raised about its effectiveness. The 2026 Robert Half Salary Guide reveals 95 percent of New Zealand employers extended a counteroffer to employees with external job offers in the past year. Megan Alexander from Robert Half says it's a short-term fix, as a significant percentage of employees st...

The Bay of Plenty could be seeing the light at the end of the economic tunnel.  ASB's Regional Economic Scoreboard shows the Bay's reclaimed first place after a strong kiwifruit season. Canterbury's runner up, Otago third and the West Coast last. Tauranga Business Chamber chief executive, Matt Cowley, says innovation follows money and there's a lot of innovation in the area.   "Even the...

The US and Iran have agreed to a peace deal, and the news has brought some hope into the economy. Oil prices have fallen about 4 percent since the countries announced an agreement to halt hostilities. Brent crude is now trading at US$84 ($143) a barrel, off the back of a similar drop in prices on Friday. Shane Solly from Harbour Asset Management unpacked the market reactions. LISTEN ABOVE See omny...

News of a peace agreement to be signed this between Iran and the US is prompting optimism about fuel prices and the global economy, but the Finance Minister is staying cautious. Both sides have agreed a deal, to be formally signed in Switzerland on Friday - and it's understood the the Strait of Hormuz will reopen and 60 days of nuclear negotiations will commence. Nicola Willis says there's been br...

The country's richest man is passing on some advice. Zuru founders Nick and Mat Mowbray have retained the top spot on the annual NBR rich-list, with an estimated net worth of $20 billion. The rich-list's collective value has increased 26 percent in the past year to $129 billion - and the number of billionaires has also risen from 18 to 26. Nick Mowbray says there are some keys to success. "It just...

An economist says it won't be long until 91 petrol is consistently back down at $2.80. The US and Iran peace agreement to cease hostilities and reopen the Strait of Hormuz is sending positive signals for the global oil industry.  Westpac chief economist Kelly Eckhold says prices will stay low, once ships are moving normally.  "We know that there's pretty low inventories out there around...

Questions over whether SpaceX will live up to its colossal share price.  Shares soared above $160 US dollars as the rocket, satellite and data centre company hit the market yesterday.  It's sent Elon Musk skyrocketing to trillionaire status - a world first. Eric Berger, who's authored two books about Musk, says it's still a risky investment for those buying in - partly due to Musk's erra...

Last week, an Ashburton family won 28.6 million in the Powerball draw. Just imagine how overwhelming that must be. We all dream about it, but the reality of managing such a windfall and all that comes with it is more complicated than the fantasy.   Then this week, the world got its first trillionaire and suddenly getting your head around a huge windfall got even more surreal, and the wealth g...

A lot of investor attention on Wall Street - with Space X heading to market on Saturday. The debut of Elon Musk's rocket, satellite and data centre company will be one of the most-watched in years. A chunk of shares will be available in a company that up to now, was exclusive to Musk and a select group of rich private institutions. Sam Dickie from Fisher Funds explained further. LISTEN ABOVE See o...

McDonalds is increasing the size of medium and large coffees for Super Gold cardholders. It had previously sold any size McCafe coffee, tea or hot chocolate for $3 but it has now increased the price for medium and large to $4 and $5, respectively. Massey University marketing professor Bodo Lang says it's likely there will be some upset people as a result of these changes. "If the costs have increa...

The cost of hiring the wrong person is racking up for employers, despite a large number of applicants.   New Seek data estimates small and medium sized businesses lose more than $900 million a year from bad hires.   Small Business NZ founder Phil Wicks told Francesca Rudkin the quality of applicants seems to be slowly declining.   He says often in the trades, it's hard to find the r...

The High Court has ordered ASB Bank to pay $6.731 million for breaching anti-money laundering laws. The penalty is the largest ever imposed by a New Zealand court under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009. NZ Herald Wellington business editor Jenee Tibshraeny explained the case further - and whether it sets a precedent. LISTEN ABOVE See omnystudio.com...

Experts are warning investors to brace for a 'choppy' market in the tech sector. Some of the US's leading chip companies have been getting some extra attention on them, as the market looks set to change.  Milford Asset Management's Jeremy Hutton explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Tough economic conditions over the past six years have taken a toll on the survival rate of small and medium-sized businesses, but franchises appear to have fared better. International data supplied by the Franchise Association of New Zealand (FANZ) indicates about 75 to 85 percent of franchises were still operating after five years, compared with about half of independent small businesses. Franch...

New data shows Australian business confidence is on the up - but things are still gloomy across the Tasman. The survey from National Australia Bank showed its index ​of business conditions held at +3 in ​May, ending four months of losses. Confidence ⁠improved modestly to -14, from -23 in April. HSBC Chief Economist Paul Bloxham explained further. LISTEN ABOVE See omnystudio.com/listener for privac...