Best of Business

It's less than two days to go until Budget Day 2025, and experts are outlining their predictions. Finance Minister Nicola Willis has hinted this won't be a 'lolly scramble' and plenty of cuts will have to take place. Infometrics Principal Economist Brad Olsen explains further, LISTEN ABOVE See omnystudio.com/listener for privacy information.

The tide looks to be changing for Gull as the leader of low-priced petrol offerings. Fuel-finding app Gaspy is reporting Taupo's Gull Ātiamuri has been undercut by Z-Energy's Waikaraka U-GO in South Auckland. AA Principal Policy Advisor Terry Collins says Gull paved the way with its New Zealand- owned self-service model.  He explained it has a low cost entry, with electronic payment options m...

Negotiations to reset the UK's post-Brexit relations reached a turning point - with leaders holding talks ahead of an upcoming summit. Both regions recently reached a 12-year deal giving fishing access for EU boats in UK waters. UK correspondent Gavin Grey explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Moody's cut the US credit rating by one notch, citing rising debt and interest payments that outpace those of similar sovereigns.  The downgrade to 'Aa1' from 'Aaa' follows a change in the outlook on the sovereign in 2023 due to wider fiscal deficit and higher interest payments, according to new data. Harbour Asset Management's Shane Solly explains further. LISTEN ABOVE See omnystudio.com/lis...

A bustle of butter-buying at Auckland's Costco - where it costs $10 a kilo. Stats NZ figures show the price of a block of butter has soared 65 percent in the past year. Videos on social media show shoppers piling boxes of the spread into carts at the bulk-buy supermarket. Former Costco managing director, Patrick Noone, says the store's very unlikely to try to stop bulk buying.  He explained t...

The Government will officially announce its annual budget this Thursday. It comes as Wellington’s economy has been particularly hit hard over the past 12 months. The capital’s seen public service job cuts, people working from home and slow infrastructure. What does the city need from the budget? Business Central CEO Simon Arcus talks to Ryan Bridge ahead of the budget. LISTEN ABOVE. See omnystudio...

Here's a question for your Monday morning.  If somebody came up to you on the street and asked for DOB, next of kin, phone number, personal address, your interests, sports and hobbies.... what would you say?  Bugger off. Why do you want all that? What will you do with it? Do you need it?  and yet, when some random business asks you this stuff while you're buying shampoo or a compute...

The trade war between the United States and China has settled down for 90 days. President Donald Trump’s agreed to reduce tariffs by 115 percent. Asia Business Correspondent Peter Lewis talks to Heather du Plessis-Allan about the developments, Japan’s conditions on singing a trade deal with the US and China’s exports growing sharply - just not in the US. LISTEN ABOVE. See omnystudio.com/listener f...

Half-year profit has more than doubled for New Zealand seafood company Sanford.  It's the best result in a decade for the company, which took home $34 million in profit in the six months to March this year.  It's seen improved salmon sales, especially in the US and China.  Managing Director David Mair told Mike Hosking he's been there for just over a year and has been working to inc...

Half-year profit has more than doubled for New Zealand seafood company Sanford.  It's the best result in a decade for the company, which took home $34 million in profit in the six months to March this year.  It's seen improved salmon sales, especially in the US and China.  Managing Director David Mair told Mike Hosking he's been there for just over a year and has been working to inc...

Butter, cheese and milk were the biggest drivers of a rise in food prices for the year to April 2025, new figures from Stats NZ show. Food prices increased 3.7 percent in the 12 months to April - well ahead of the annual inflation rate at 2.6 percent. That follows a 3.5 percent increase in the 12 months to March 2025. NZ Herald business editor at large Liam Dann explains what's going on. LISTEN AB...

A new report suggests the increase in domestic air fares may be due to a lack of the right planes. In particular, airlines don't seem to have access to suitable 19-50 seat passenger aircraft. Air New Zealand has abandoned some of their regional routes - but the gap in the market hasn't been filled. Air Chathams chief commercial officer Duane Emeny speculates further. LISTEN ABOVE See omnystudio.co...

Up to 15 metro-style Briscoe and Rebel Sport stores will be popping up across the country - in a bid to pump up Briscoes Group's profitability. The project will cost more than $100 million dollars - and launch in 2028.  Briscoe Group managing director Rod Duke says the company is looking to expand their reach to new locations. LISTEN ABOVE See omnystudio.com/listener for privacy information.

It's been a memorable year for financial markets so far - but experts have noted that the NZX appears to have calmed down. After President Donald Trump's 'Liberation Day', the NZX took a significant dip, but the markets appear to have shaken off the impact caused by the tariffs. Milford Asset Management's Jeremy Hutton explains further. LISTEN ABOVE See omnystudio.com/listener for privacy informat...

Finance Minister Nicola Willis has talked up how changes to KiwiSaver, due to be announced at the Budget, will boost members’ balances. She's offered up some hints - but it's unlikely the Government will help by opening up its wallet. NZ Herald Wellington business editor Jenee Tibshraeny speculates further ahead of Budget day. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Carpet maker Bremworth has reversed its wool only policy - and will soon start making synthetic carpets again. The NZX-listed company, which stopped producing synthetic carpets in 2020 in favour of a wool-only policy, will restart production of synthetic carpets at its Auckland facility in the next financial year. The Country's Jamie Mackay unpacked the market reactions to this. LISTEN ABOVE See o...

The Finance Minister has revealed the Government will will make its first withdrawal from the Super in 2028 - five years earlier than initially planned. In the first year, $32 million will be withdrawn - but from 2031, withdrawals are expected annually. Infometrics Principal Economist Brad Olsen explains why this is happening. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Inland Revenue has collected more than $207 million in repayments since July last year from student loan borrowers living overseas in the past 9 months. This is a 43 percent increase on the same period from the previous year. Currently, 71 percent of overseas student loan borrowers are in default - and together, they owe about $2.3 billion in loans, penalties and interest. Deloitte tax partner Rob...

There's belief that injecting taxpayer dollars into venture capital comes with high risks. The Government's putting $100 million into the Elevate fund - which supports small business start-ups.  It's diverting $61 million from its yearly Super Fund contribution, topped up with $39 million from the Budget. The Taxpayers Union's James Ross says commercially viable businesses wouldn't need propp...

Another plant-based meat alternative is set to leave the market - and it's sparked debate about the benefits and drawbacks of these products. Bean Supreme, a leading producer of vegetarian sausages, burgers and mince, will have their products departing the shelves in June.  Head Of Nutrition at Beef + Lamb NZ, Julia Sekula, joined the Afternoons team to discuss. LISTEN ABOVE See omnystudio.co...

Auckland's Business Chamber CEO says we have nothing to lose by loosening transit visas for Chinese nationals.  Auckland Mayor Wayne Brown's updated his Auckland Manifesto, laying out a Beehive to-do list.  It includes calling for the Government to reconsider loosening transit visas for Chinese Nationals, giving them more freedom for short stays in the country.  Simon Bridges told R...

The US and China have agreed to slash their reciprocal tariffs by 115 percent for 90 days. Washington imposed a 145 percent tariff on Chinese imports at the start of the year - and Beijing responded with a 125 percent levy on some US goods. But this weekend's trade negotiations between US and Chinese officials in Switzerland appear to have gone well.  Harbour Asset Management's Shane Solly ex...

Time is running out for businesses who took out a Covid Small Business Cashflow Scheme. It's five years today since Inland Revenue introduced the loans. They were issued to more than 129,000 businesses and totalled $2.4 billion. The IRD says they're now reaching their cut-off point, and default loans not paid in full will be enforced. ABC Business Sales managing director unveils how many businesse...

A Queenstown brewery has put New Zealand on the global sake map for the first time. The country’s first and only dedicated sake brewery has taken home a gold award for its handcrafted Drip Pressed Junmai Ginjo as part of the Tokyo Sake Challenge. Zenkuro Sake director Richard Ryall says this award comes as the brewery celebrates its 10-year anniversary. "It's been an amazing journey for us to reac...

Trade officials from the worlds biggest economies are coming together for discussions this weekend.  US-President Donald Trump says tariffs on goods from China may come down.  Asia Business Correspondent says people shouldn't get their hopes up.  "These aren't really negotiations about trade, they're talks about having talks," he said.  LISTEN ABOVE.  See omnystudio.com/li...