Best of Business

Food prices increased 4.4 percent in the 12 months to May 2025, following a 3.7 percent increase in the 12 months to April 2025, according to figures released by Stats NZ. Higher prices for the grocery food group and the meat, poultry and fish group contributed most to the annual increase in food prices. Infometrics Principal Economist Brad Olsen unpacks the factors behind this data. LISTEN ABOVE...

As much as we tried to celebrate last week's excellent economic numbers regarding the food and fibre, the bullishness of Fieldays, the boost in elective surgery and the boom in teacher numbers, what you can't ignore is the manufacturing read for April. It hit a brick wall. It fell over six points and is below the 50 point expansionary mark. A couple of key things about that - while services and se...

Israel and Iran have been engaged in air strikes for several days now - and experts have wondered what the conflict could mean for the wider world. It's day three of the latest conflict, as the two countries exchange deadly attacks following Israel's initial assault on Friday.  Harbour Asset Management's Shane Solly unpacked the market reactions. LISTEN ABOVE See omnystudio.com/listener for p...

This week on the Business Panel, Nick was joined by two second-generation Wellington business owners. On the agenda was the state of the city, potential changes to sick leave, and the mood amongst the business community about upcoming local elections.  Listen to Dragonfly owner Tania Siladi and Nada Bakery owner Michael Gray above. LISTEN ABOVE See omnystudio.com/listener for privacy informat...

This week marks the end of an era for two classic Kiwi brands - department store Smith & Caughey’s announced it will shut their doors for the last time at 4pm today, and hosiery manufacturer Columbine that they’re closing their Gisborne factory in August.   These are both sad events. Smith & Caughey’s has been part of Queen St for 145 years, and Columbine has kept me in opaque tights...

It's all go at Fieldays 2025, and the Country's Jamie Mackay is taking it all in. Farmers are in a better mood as primary export figures soar - and business is booming. Jamie Mackay recaps the mood of day two of Fieldays. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The GDP for Q1 is set to drop next week - and experts are feeling confident about the state of the economy. Predictions from economists claim figures will pick up this time round. NZ Herald business editor at large Liam Dann speculates further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's growing calls to implement price controls on alcohol sold at off-licence stores to boost the hospitality industry and reduce the negative impacts of alcohol harm. Experts say a significant percentage of alcohol consumed in New Zealand is purchased at an off-licence and consumed in the home, where there's more room for harm. Caller Sam says it's not fair that off- and on-licence businesses...

The NZ sharemarket lifted today as Fletcher Building announced it had received inquiries from parties interested in buying its businesses. The S&P/NZX 50 Index closed up 0.33% or 41.51 points, rising to 12,605.93, with 39,702,689 shares changing hands to the value of $139.77 million. Milford Asset Management's Sam Trethewey explains further. LISTEN ABOVE See omnystudio.com/listener for privacy...

There are fears Finance Minister Nicola Willis is opening a can of worms by potentially allowing young farmers to dip into their KiwiSavers to buy farms. She explained she was seeking advice from the IRD on the matter, which is yet to be considered by Cabinet. NZ Herald Wellington business editor Jenee Tibshraeny weighed in on the debate. LISTEN ABOVE See omnystudio.com/listener for privacy inform...

An open letter has been written to the Prime Minister urging Luxon to ease the ban on foreign house buyers. This letter comes after multiple NBR Rich Listers told NBR that making it easier for foreign investors to buy homes here would make New Zealand a better place to do business. Luxury property real estate agent Anthony Morsinkhof provided the open letter - and he says he has clients looking to...

A former Reserve Bank economist is calling out his former employers' lack of transparency. The bank today revealed Adrian Orr quit as Governor in March, when the five-year funding for the RBNZ was much less than anticipated.  Michael Reddell says the bank waited far too long to say why Orr left so abruptly.   "It's just extraordinary - maybe they couldn't tell us the full story on the da...

As more people take the leap to owning their own businesses, many seem to be buying into already established brands.  Data suggests the business of franchising and owning established brands is booming, with around 30,000 franchise unites currently existing nationwide.  Association CEO Katrina King told Kerre Woodham they see franchising as being in business for yourself, but not by yours...

There’s been plenty of buzz around AI in the last few years.  The most recent headlines have been highlighting its evils, such as the creation and lack of regulation around deepfake technology and fake pornography.  However, there are many positive applications for AI technology, particularly in business.  Jason Flitter, founder of NewZealand. AI, joined Kerre Woodham to discuss the...

Acting Reserve Bank Governor Christian Hawkesby left experts speculating about the future of interest rates following the recent OCR cut. More banks have slashed their rates after the recent announcement, but questions have been raised over future cuts. HSBC chief economist Paul Bloxham speculates further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New census data shows more Kiwis are moving house than ever and it's raised questions among experts. 45 percent of New Zealanders have moved address over the last five years - a noticeable increase on previous data. Infometrics principal economist Brad Olsen explains why this could be the case. LISTEN ABOVE See omnystudio.com/listener for privacy information.

It is as expected - if our office is anything to go by, Auckland is a miserable town today because the house valuations are out, and they're bad. Just about everyone has jumped on the computer to have a look by now, I'd say, and just about everyone's house has gone backwards. So my house - it's gone down in value by 8 percent. One of the bosses, not too bad, only gone back by 4 percent. I don...

New figures from NZ Post’s latest eCommerce Market Sentiments Report show more Kiwis get last-minute jitters before they check out. The data shows 68 percent of shoppers would abandon their cart if the cost of delivery was too high and 57 percent would hit the exit button if free returns weren't available. Murray Crane from Crane Brothers says it's likely people are treating the cart like a 'Pinte...

Buyers could hold all the cards, based on a plunge in Auckland Council home valuations. Numbers have been released today for 630,000 properties across the region, and will affect how the spread of rates from next month. On average, residential homes dropped nine percent from 2021 CVs. Real estate agent, Rawdon Christie, says buyers could use it to help beat down prices. He explained they're making...

If you turned up to work yesterday, first day of a new week, with a bad case of Mondayitis, feeling like you're getting nowhere working for the man, thinking now is the time in your life when you should be the master of your own destiny, making your own decisions, getting the true reward for your labours, well join the queue.   Buyer demand for New Zealand businesses is on the up with large b...

We got the press release recently from the Restaurant Association where they said there were flat sales, cost pressures and regional divergence was the theme. I have changed my mind a bit on hospitality. More broadly, I wonder whether there are too many vested interests in this country who get in the way of real progress. The hospitality story has been a long, arduous and well told one. We hear ho...

Now is the time to sell your business.  According to ABC Business Sales, the number of buyers enquiring about purchases is up 30%.  Demand is currently outstripping supply, as new listings are down 10% on last year.  CEO Chris Small told Mike Hosking much of the interest is led by migrants, and hospitality, services, and construction are the three sectors people are primarily lookin...

US share markets have continued to pick up recently, sparking discussion among experts. Harbour Asset Management's Shane Solly explains the factors behind the change. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Wellington City Council is being called on to review its rating system over fears increased rates are driving businesses out of the capital. Newly released figures show Wellington’s average commercial rates bill is $47,881. That compares to $20,716 in Auckland, $18,059 in Christchurch, $24,768 in Hamilton, and $25,670 in Tauranga. Director of The Wellington Company, Ian Cassels, says there's a lot...

Auckland home values have fallen, down nine percent on CVs released in 2021. New capital values are being released tomorrow for 630,000 properties, with inner-city suburbs taking a bigger hit. Central Auckland areas - including Mount Eden and Maungakiekie - fell about 13 percent. Auckland Council Group CFO, Ross Tucker, says a few reasons have driven the slump. "We've seen apartments fall 12 perce...