Best of Business

Federated Farmers has launched a petition calling for KiwiSaver rules to be changed to help young farmers get their foot on the ladder. The petition’s launch has been timed to coincide with Fieldays, where thousands of farmers, industry leaders and politicians will gather at Mystery Creek. Federated Farmers' banking spokesperson Richard McIntyre says farming is very capital intensive and young far...

Positive news from the manufacturing sector.  Data from inventory management software company Unleashed shows that both revenue and profitability is up.  In the first quarter of the year, revenue across the sector was up 7.5%, and profitability was up 30% compared to the same time last year.  Food, beverage, and the building industry are the big winners.  Alan McDonald, EMA Hea...

The US debt burden has been thrust into the spotlight - and it's an ongoing point of concern. Sam Dickie from Fisher Funds explains why this is happening. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Labour has slammed the Government for not getting a better trade deal out of the current Trump administration. New Zealand currently has to pay a 10 percent tariff on all imports on New Zealand products out of the US. But the opposition has claimed the Government is failing Kiwis by 'being comfortable' with a 10 percent tariff. Former trade negotiator Stephen Jacobi says the Government is watching...

The Commerce Commission is proposing to give grocery suppliers a leg up in their dealings with the supermarket giants. The commission has proposed updates to the Grocery Supply Code, including stopping retailers charging suppliers for stocking shelves and requiring retailers to keep records on how they’re complying with certain parts of the code. Night 'n Day general manager Matthew Lane says this...

The UK has managed to escape Donald Trump's recent executive order doubling steel and aluminium tariffs from 25 percent to 50 percent.  The order raises import taxes for US-based firms buying metals from other countries going forward.  UK correspondent Gavin Grey says the UK evaded these tariffs as a result of the trade deal between both nations. LISTEN ABOVE See omnystudio.com/listener...

Homeowners need to brace for another cost increase, this time to help fund the state disaster insurer, the Natural Hazards Commission. The minister responsible for the commission, David Seymour, says levies will 'almost certainly' need to rise, with Cabinet set to decide the changes in the coming months. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE See omnys...

Business leaders across New Zealand have voiced concerns that Donald Trump's tariffs could have a more severe global impact than the Covid-19 pandemic and the Global Financial Crisis.  The months since Trump’s 'Liberation Day' announcement have seen sustained market volatility, tit-for-tat trade wars and fears of a resurgence in inflation. New Zealand Initiative executive director Oliver Hart...

There's belief state-owned enterprises need to go back to basics in order to up their game. New Treasury documents show the Government's told New Zealand Post and Landcorp it's not impressed with their recent performance. Simeon Brown - the Minister responsible for State-Owned Enterprises - has told them to deliver bold turnaround plans. Northland MP Grant McCallum says Lancorp's lost its purpose....

Foodstuffs is hoping to bring retail crime down after a successful trial of live facial recognition technology. The Privacy Commissioner has deemed Foodstuffs North Island's trial compliant with the Privacy Act, and effective in reducing harm.  But his report states there's more work to do. General Counsel for Foodstuffs North Island, Julian Benefield, says retail crime has put staff at risk...

Kiwi business leaders fear the impact of Donald Trump's tariffs will be more severe than the impact of the Global Financial Crisis and the Covid pandemic.  ASB and Talbot Mills have been surveying more than 300 business leaders, including CEOs and founders.  Two-thirds of businesses are concerned about the impacts, including almost 80% of exporters.  Meat, dairy and wine are expecte...

New data shows more Kiwi farmers are satisfied with their banks - pointing to improved communication and less 'undue pressure'. Federated Farmers’ latest Banking Survey shows 60 percent of respondents are 'satisfied' or 'very satisfied' with their bank. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Canadian billionaire Jim Grenon and former Finance Minister, Steven Joyce, have won positions on integrated media company NZME's board.  Board positions were voted on today in a shareholder meeting - where current chair Barbara Chapman stepped down. Joyce is set to chair, and he says he's got an eye on the company's future. "It's about not necessarily slavishly following social media - it's s...

The downturn in construction continues. The Post is reporting almost a third of all business liquidations are construction companies - up from a quarter in 2022. Building Industry Federation chief executive Julian Leys says it's been a tough few months. But he says things are levelling out. "We still have a good number of building consents - sitting around at 33-34,000. We still are seeing active...

The ongoing economic downturn has sparked discussion about the best kinds of careers to take on. The hospitality sector comes with plenty of benefits and drawbacks, but one expert joined the Afternoons team to explain whether it's worth the trouble to become a chef. Warwick Brown joined the Afternoons team to explain further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Leeann Watson, CEO of Business Canterbury, joined John MacDonald to give a quarterly update.  Are we seeing signs of recovery in Canterbury? What would a commuter train mean for the city business scene?  And will the Government’s new approach to WorkSafe make a difference for local businesses and how they operate?  LISTEN ABOVE  See omnystudio.com/listener for privacy informati...

The founder of plastics storage container business Sistema Plastics Brendan Lindsay has been appointed a knight companion of the New Zealand Order of Merit in this year’s King’s Birthday Honours. Lindsay received the honour for his services to business and philanthropy, noting his work at Sistema and his efforts as part of the Lindsay Foundation. He founded the plastic business in 1982.  He w...

A US federal court's blocked Donald Trump's global tariffs from going into effect - ruling the President overstepped his authority. The Court of International Trade says an emergency law invoked by the White House doesn't provide unilateral authority to impose tariffs on nearly every country. Fisher Funds expert Sam Dickie explains what this means for the economy. LISTEN ABOVE See omnystudio.com/l...

Fonterra is being cautiously upbeat about the future. The dairy co-op is forecasting a $10 farmgate milk price payout for the current season, and an earnings range of 65 to 75 cents a share. The Country's Jamie Mackay explains what this means for the market. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Transport heavyweight Mainfreight has posted a solid full-year financial result, but international economic uncertainty is causing concerns. Annual net profit was up nearly a third on the previous year - to  $274.3 million compared to $208.7 million. Mainfreight General Manager Don Braid says the company's focused on business and what that means for customers around the world. "We'll do whate...

The Reserve Bank cut the Official Cash Rate by 25 basis points to 3.25 percent. The markets had already priced a rates cut in - but there was some uncertainty emerging after the announcement took place.  Milford Asset Management's Remy Morgan explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank delivered their quarterly update on the OCR - but there was a hawkish undertone this time round, according to experts. The central bank cut the Official Cash Rate by 25 basis points to 3.25 percent, in line with expectations from economists. Despite this,  NZ Herald Wellington business editor Jenee Tibshraeny noted there were some concerns about the economic future. LISTEN AB...

Some complex airline problems might be solved with another type of aircraft now operating in an Auckland warehouse. Air New Zealand has teamed up with Spark, Ericsson and Canadian firm Cypher Robotics to deploy a robot-tethered drone. The airline and the telco said they worked together to create New Zealand’s first private 5G network for business. Mark Beder, Spark New Zealand customer director fo...

I don't really want to have to start on a bum note, but if there is a thing that we do on the show, it's honesty. So let's be honest about it. What the Reserve Bank decision told you today is how much trouble our economy is in. If you're in business, you already know this and you don't need me to tell you this. I was talking to a couple of CEOs yesterday. They were telling me they cannot see the g...

The Warehouse Group has appointed a new CEO after a lengthy search to fill the role. Mark Stirton, who joined the company in April last year, will head the group from August 1. Chair Dame Joan Withers says Stirton has basically completed a one-year job interview - and has continued to impress the board. "Rather than just anoint someone internally, we went through that thorough process so that we c...