Best of Business

Australian mining firm Santana Minerals has forecasted making $3.8 billion (NZD) in pre-tax profit off a proposed gold mine it hopes to open in Otago by 2027. The company believes it could get 1.25 million ounces of gold from the mine near Cromwell - and the profit is predicted to be significant if gold prices keep holding up. Santana Minerals CEO Damian Spring says this mine will come with divide...

Finance Minister Nicola Willis says New Zealand has not “escaped the aftershocks of world events” as new data shows hardship rising and more Kiwis struggling to pay the bills. Speaking to Newstalk ZB   Wellington Mornings host Nick Mills about the state of the economy, Willis acknowledged it had been “a tough time”. “Things were starting to come along and then come April there were some reaso...

Business NZ's Advocacy Director says Invest New Zealand is looking to hire people with an array of international connections.  The government organisation's been given $85 million over four years to work with global investors to create jobs, boost innovation, and lift productivity.  Catherine Beard told Ryan Bridge potential employees should be well-connected around the world.  She...

Canada recently scrapped its digital services tax targeting US technology firms - just hours before it was due to take effect.  Canadian Prime Minister Mark Carney and US President Donald Trump are set to re-open trade talks in order to agree on a deal by July 21, according to Canada's finance ministry. Harbour Asset Management's Shane Solly explains further. LISTEN ABOVE See omnystudio.com/l...

Strategic Pay's latest Directors' Fees Survey has uncovered an unexpected trend in the nation's private sector boardrooms. The data shows women are out-earning their male counterparts - despite still being somewhat under-represented. Strategic Pay managing director Cathy Hendry says this is 'surprising' - but it's still good to see. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government's slamming the requirement for builders of a new Ikea in Auckland - to consult with seven mana whenua groups. Consent for the Sylvia Park store requires iwi consultation around erosion, stormwater treatment, and planting.  ACT's Simon Court flagged the issue, and the Prime Minister's called it insane. RMA Reform Minister Chris Bishop says it's ridiculous - and why we can't have...

There's concerns not all landlords will comply with the Healthy Homes standards set to kick in tomorrow. New rental compliance standards for heating, insulation, ventilation, and moisture in rental properties will come into effect from July 1. NZ Green Building Council CEO Andrew Eagles says it's likely a significant percentage of homes won't meet the standard by the deadline. "There's been an awf...

New reports show Nike's stock has plummeted 68 percent from its November 2021 peak. Experts say it's a textbook 'fallen angel' - a former market darling now trading at beaten-down prices. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New reports indicate the global housing market has entered a significant downturn. Existing home sales have neared recessionary levels and new home sales are expected to fall. Milford Asset Management's Brendan Larsen explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Broadband company Chorus is celebrating an endorsement from the Infrastructure Commission for its planed extension. Chorus seeks to extend its ultrafast broadband network to another 160,000 homes and businesses at a cost of between $2.5 billion and $3 billion. Chorus CEO Mark Aue says now is the time to boost New Zealand's rural communities.  LISTEN ABOVE See omnystudio.com/listener for priva...

Halter, a New Zealand tech company specialising in virtual fencing and animal management technology, has raised $165 million in a Series D fundraising round, valuing the company at $1.65 billion. Started in 2016, Halter’s solar-powered, smart collars were guiding thousands of cattle by sound and vibration cues, allowing farmers to get rid of fencing on paddocks. CEO and founder Craig Piggott says...

New Zealand’s largest bank is lending less cash to businesses than it was half a decade ago.  Figures from the Reserve Bank show a softening across all bank business lending since the pandemic, with ANZ the only one going backwards.  The overall growth rate across all banks has slowed to just 1.5%, down from 6% in 2013.   ANZ CEO Antonia Watson told Mike Hosking much of the drop is...

Market reactions after the US strikes on Iran have been more 'muted' than expected, especially compared to the response from a week ago. Reports indicate investors have brushed off this escalation.  Shane Solly from Harbour Asset Management explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister's keeping a close eye on the economic impact of volatility in the Middle East. Economists worry it will impact oil, driving up prices at the pump for Kiwis.  Nicola Willis says this is a concern.  "Our position now is that we support all efforts at diplomacy and de-escalation. That is good for the world." LISTEN ABOVE See omnystudio.com/listener for privacy informati...

Following the recent US strikes on Iran, experts have voiced concerns over whether Iran will close the Strait of Hormuz. The strait is considered a significant oil 'choke point' with one fifth of global oil supplies and a third of liquefied natural gas passing through it. International relations expert Stephen Hoadley says it's an option Iran's considering - and warns closing it will come with sig...

The Israel-Iran conflict has continued on for a week - and it's seen markets dropping as more fear the conflict intensifying. Experts also believes markets are likely to drop further if the US gets more involved in the conflict. Sam Dickie from Fisher Funds explains the market impact of the conflict. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New data out of Stats NZ reveals the country's gross domestic product grew by 0.8 percent in the first quarter of 2025. It's a stronger result than predicted by the Reserve Bank and Treasury. NZ Herald business editor at large Liam Dann unpacks these results - and voices his concerns about the future. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Federated Farmers is calling on Revenue Minister Simon Watts to rule out new changes to the Fringe Benefit tax that would impact utes. The IRD has proposed major changes to the way FBT applies to utes and farmers are concerned this would set them back thousands of dollars a year. Federated Farmers' transport spokesperson Mark Hooper says this issue started drawing in more attention post-Fieldays....

Kiwibank's chief economist says GDP figures released today show good momentum - but the next report isn't looking as good.  Stats NZ says our gross domestic product grew a strong 0.8 percent in this year's first quarter. It's much higher than predicted by the Reserve Bank and Treasury. Jarrod Kerr says there is less optimism around the quarter ending June.  "The data that we talked about...

The Finance Minister's revealed top-level legal advice was sought over the Reserve Bank's battle with Treasury for funding.  The bank received less money than it anticipated in the latest funding round - which prompted Adrian Orr to quit as Governor.  NZ Herald Wellington business editor Jenee Tibshraeny unpacks the issue further. LISTEN ABOVE See omnystudio.com/listener for privacy info...

The conflict between Israel and Iran is continuing on - and it's sparked concerns among investors. US President Donald Trump has demanded Iran's unconditional surrender, as he weighs up whether to join Israel's targeting of nuclear sites. Milford Asset Management expert Andrew Curtayne explains the impact of the conflict. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New data shows consumer confidence has gone up - but overall levels show people are feeling more pessimistic than optimistic about the economy.  The Westpac McDermott Miller Consumer Confidence index rose two points in June to 91.2, a modest rise from last quarter's drop. Westpac senior economist Satish Ranchhod says negative news and the rising cost of living are contributing to an uncertain...

The Inland Revenue Department has unveiled the horticulture sector hasn't paid their fair share of taxes. Over the last 10 months, the IRD has found $45 million dollars of undeclared tax - and almost 100 audits are in the works now, within the sector. Inland Revenue spokesperson Tony Morris says the department is seeing people being paid under the table, undeclared cash sales and withholding tax g...

New Zealand businesses believe things are looking up, with optimism at a high.  The 2degrees 2025 Shaping Business Study reveals 45% of surveyed business leaders are more optimistic about the year ahead – up on last year's 34%.  46% of businesses also report they're more productive than last year.   Business Central CEO Simon Arcus told Ryan Bridge things will probably still fluctua...

Farmer confidence remains at a near-record high, according to the latest Rabobank Rural Confidence Survey. Farmer confidence in the broader agri-economy was unchanged at a net reading of +44 percent following consecutive lifts in the previous three quarters. The Country's Jamie Mackay unpacks the survey results further. LISTEN ABOVE See omnystudio.com/listener for privacy information.