Best of Business

There's been suggestions we need to move away from relying on pine trees to offset our emissions. The Parliamentary Commissioner for the Environment recently put out a report  examining forestry drivers in New Zealand - and says we need to phase out the current approach to forestry. David Norton from Pure Advantage says we can't offset our way out of a climate emergency - and we need to work...

So the Reserve Bank did the predictable thing today and cut 25 basis points. Good news for mortgage holders, good news for the economy, more money in our pockets and more money to spend.  Of course it's not going to change the world, it's a quarter of as percent on the wholesale rate. And the wholesale rate is only makes up a portion of the bank's rate. And the bank's rate only matt...

Labour's finance spokesperson has accused the Government of 'sitting on its hands' amid an economically turbulent week for the world. Barbara Edmonds has criticised Nicola Willis' response to Donald Trump's tariffs - and accused her of 'complacency' as Kiwis express concerns over their jobs and mortgages. She says the Government needs to look inward and come up with a solution that benefits New Ze...

Exporters are scrambling under the sudden imposition of Donald Trump's tariffs.  The President's signature economic policy has taken effect, with US allies and adversaries all facing tariffs.  New Zealand's been hit with the lowest rate -10 percent. Egmont Honey founder James Annabell says the move prompted hasty discussions with US-based buyers. He explained Costco US knew his company c...

There's industry celebrations over a directive to use Kiwi wool in Government buildings.  New builds worth more than $9 million and refurbishments costing over $100,000 must use wool where possible from July, meeting a Coalition deal. In January, housing agency Kainga Ora reversed its price-based decision to not use dearer wool products Campaign for Wool's general manager, Kara Biggs, says sh...

There's uncertainty about what's next after today's OCR cut. The Reserve Bank has slashed the Official Cash Rate 25 basis points to 3.5 percent, with most banks responding by cutting their advertised rates. Economists are divided on how far rates will fall. Westpac Chief Economist Kelly Eckhold says the global trading environment is changing by the day. "There's no clarity, really, about the exten...

New Zealand's dairy sector has voiced concerns as the world prepares to accommodate the financial impacts of Donald Trump's tariffs. Reports show only six percent of NZ-produced dairy goes into the US - but there's still worry among experts. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

China’s commerce ministry has vowed to fight US tariffs 'to the end' after Donald Trump threatened them with new levies. One ministry spokesperson has labelled these threats a 'mistake on top of a mistake' - and claimed China would not accept this. Infometrics Principal Economist Brad Olsen says this is starting to resemble the beginning of a full-on trade war. LISTEN ABOVE See omnystudio.com/list...

A former Finance Minister says New Zealand faces uncharted territory - as the world grapples with Donald Trump's tariffs.  New Zealand, Australian and Asian markets tumbled yesterday, but regained some ground today. Current Minister Nicola Willis is warning the tariffs and world events will impact the Government books.  Steven Joyce says given the daily uncertainty which will slow invest...

Over in Australia, the ASX has seen a slight rebound following a drop from earlier in the week. The S&P/ASX 200 Index lifted 2.1 per cent, or by 151.5 points, to 7494.8 after recouping some of Monday’s 4.2 per cent loss as part of the fallout from Trump's newest tariffs. Australian correspondent Murray Olds says the tariffs have also damped business confidence across Australia, according to ne...

The UK Government is stepping in to make things a little easier for car manufactures following Trump's latest tariff update. A ban on producing new petrol and diesel cars is set to come into effect in 2030 - but Transport Secretary Heidi Alexander confirmed regulations would be relaxed ahead of the deadline. UK correspondent Gavin Grey says Donald Trump's 25 percent levy on cars imported to the US...

The NZX50 index had fallen around 3.7 percent at the close of market today as Donald Trump's tariffs continue to reverberate globally. It hasn't had a fall of this magnitude since the pandemic. Harbour Asset Management's Shane Solly unpacks the economic fallout. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There is relief among New Zealand's wood exporters - who've escaped the import tariffs set by the US. Imports of timber and lumbar products into the US have dodged tariffs, as confirmed by President Donald Trump, The United States was New Zealand's third largest market for timber exports, after China and Australia. Wood Processors & Manufacturers Association of NZ CEO Mark Ross says this doesn...

The Finance Minister has been getting updates about the financial fallout from the latest batch of Trump tariffs. New Zealand goods have been hit with a 10 percent tariff, as part of President Trump's trade plan.  Nicola Willis warns these changes will come with 'profound' economic implications for New Zealand. "We will finalise our economic forecasts, which feed into the Budget - in the next...

The NZX50 index had fallen about 3.7 percent at the close of market today - as Donald Trump's tariffs continue to reverberate globally. It hasn't had a fall of this magnitude since the pandemic. Sharesies Co-CEO Brooke Roberts says it's hard to say how long markets will keep rattling around. "Look, it's unprecedented times in terms of the shock that has happened to the markets at the moment based...

Simon Squibb is not your average entrepreneur.  After tragedy saw him leave home at the age 15, Simon went into survival mode - he started a gardening business with no actual experience or knowledge of the industry.  19 businesses later, Simon is a multimillionaire.  He's since taken to social media to ask people about their dreams via TikTok and he's founded the ‘Elevator of Dreams...

New Zealanders in Kiwisaver are urged to stay calm and stay the course as stock markets tumble. The global uncertainty comes off the back of US President Donald Trump's sweeping tariffs on imported goods from the rest of the world. Simplicity Chief Economist Shamubeel Eaqub says tariffs have caused significant damage to the global economy in the past - and the uncertainty has added to existing eco...

The UK will likely be pushing hard for a better deal after President Donald Trump unveiled the new tariffs set to impact the region. Trump announced new levies on goods coming into the US, including 10 percent on all UK imports and 20 percent on those from the European Union. UK correspondent Enda Brady says the UK is among many countries that will be pushing back against the tariffs - with discus...

The UK will likely be pushing hard for a better deal after President Donald Trump unveiled the new tariffs set to impact the region. Trump announced new levies on goods coming into the US, including 10 percent on all UK imports and 20 percent on those from the European Union. UK correspondent Enda Brady says the UK is among many countries that will be pushing back against the tariffs - with discus...

There's been plenty of discussion about Donald Trump's new barrage of tariffs - and many Kiwis have been left wondering what it means for them. The new tariffs come with wide-reaching global implications, and experts have revealed it could play a part on future interest rates later down the line. NZ Herald business editor at large Liam Dann explains further. LISTEN ABOVE See omnystudio.com/listene...

Donald Trump has finally unveiled his long-awaited batch of tariffs - and it's gotten a mixed reaction from New Zealand's rural sector. Red meat producers have voiced their disappointment with these changes, but it's unclear how hard the dairy sector will be hit. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Donald Trump has unveiled a barrage of sweeping tariffs set to hit the rest of the world - and it's left a notable impact on the markets. All countries, including New Zealand, have been hit with a 10 percent tariff, the EU will cop 20 percent, but Asia's been hit a little harder. China will pay 34 percent on top of a 20 percent levy, Japan will pay 24 percent and India will pay 26 percent on their...

New Zealand is finally in the firing line of Donald Trump's tariffs - but one Kiwi CEO is determined to make the best of things. Under the new regime, New Zealand faces a 10 percent tariff on all imports into the states across all industries. NZ King Salmon CEO Carl Carrington says the company will work through this development over the coming weeks - but he's not too worried. "I think we have, to...

The Government's questioning the numbers the US is using to justify new tariffs. The Trump administration claims it is imposing a 10 percent tariff on our goods, in response to New Zealand's 20 percent tariff on US goods. But Trade Minister Todd McClay says our tariffs average under 2 percent, with the highest about 5 percent. "It looks like they've used a different type of calculation as to balan...

President Donald Trump has today confirmed a roll-out of 10 percent tariffs on almost all imports to the US. They're much higher for some countries and products - including 25 percent on vehicles, 34 percent on China, and nearly 50 percent on some other countries. Republican strategist Jeanette Hoffman says domestically, Trump is taking a major political risk. "If prices go up, we hit a recession...