Best of Business

Torpedo7’s new owners have revealed a major shake-up to the outdoor sports gear retailer. Tahua Partners plan to close its stores in Rotorua and Auckland's Westgate, then convert 10 of the 16 remaining locations to a new offering called The Outlet. In a statement, it says Torpedo7 will continue to prioritise its online presence and its six flagship stores. Owner Roger Harper says there's a clear g...

New research reveals New Zealand businesses are losing billions of dollars a year as a result of unwell workers pushing through instead of taking time out to recover. In a new report by Umbrella Wellbeing, 'presenteeism' - when employees turn up to work while physically or mentally unwell - has been found to erode productivity and result in costly mistakes from staff. Umbrella Wellbeing Principal...

One former Special Trade Envoy has issued a warning to Kiwi primary exporters amid the escalating trade war. Mike Petersen has joined the chorus of international trade experts who say New Zealand will be caught in the crossfire between the US and China - and he's warning exporters to 'be ready to be nimble'. The Country host Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener f...

Export prices are sitting in a strong position - with cherries seeing a surge in overseas demand. New data shows cherry exports over the 2024/25 season reached 5.07m kg, up 33 percent from the prior season. Infometrics Principal Economist unpacked this data further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New data shows a significant number of Kiwis are working past the retirement age. A new report from Stats NZ shows there are almost 200,000 New Zealanders aged 65 or older that are still in the workforce. This research also reveals at least 1200 Kiwis in their 90's are still working. Financial adviser Martin Hawes says many of these people will need the extra money - and plenty are just used to wo...

A new report exploring the tech sector has raised concerns among experts. A new survey by Tech Beyond Gender found that over half of all female and gender diverse technology workers who took part in the study have contemplated leaving their positions - while a third considered leaving the sector altogether. Tech Beyond Gender founder Meena Satishkumar says many of them have experienced microaggres...

There's fears stricter regulation of event organisers could hurt smaller promoters most.  Three companies connected to Juicy Fest and Timeless Summer have gone into liquidation - with ticket holders yet to receive refunds.  Eccles Entertainment co-founder Brent Eccles is pushing to force ticketing companies to hold money until an event has ended.  But Lo-Fi Productions Managing Dire...

New research shows investors looking for the best returns might be better off putting money into whisky or Lego, as opposed to the share market.  University of Auckland finance lecturer Gertjan Verdickt has released new research into alternative investments, including Lego, instruments, classic cars, wine, whisky and baseball cards. Verdickt says there's value in adding an additional componen...

Confidence in the labour market is shrinking, according to new reports. The Westpac-McDermott Miller index shows employment confidence has reached its lowest level since mid-Covid - in September 2020. It fell in 4 out of 11 regions - including the biggest jobs market - Auckland. Westpac senior economist, Michael Gordon, says businesses are advertising fewer jobs. He explained some are just looking...

The global economy has gone through an interesting few months - and it's got markets worried. Trade concerns are impacting markets all over the world, especially the US.  Harbour Asset Management's Shane Solly explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A return to profit for troubled Canterbury milk processor Synlait. Its half-year result to January's end shows earnings of $63 million before interest, taxes, and depreciation. It follows a tough 2024 for Synlait, which saw a shareholder bailout via a $218 million capital raise to repay debt. Acting Chief Executive Tim Carter explains how the company managed to bounce back. LISTEN ABOVE See omnyst...

The Finance Minister says there will be an announcement in the next week on the Government's next steps to encourage more competition in the supermarket sector. Nicola Willis has previously indicated intentions to encourage a third player into the market to challenge the two incumbents. She explained while it's good to have a niche provider opening - unless someone is opening multiple stores, it's...

Land owners will have more control of their property under the Government's new Resource Management Act system.  It's scrapping the RMA to replace it with two acts focused on land use and environmental protections.  Cabinet is hoping to pass it before the next election - to be in place before councils start 2027 long-term plans.  RMA Reform Minister Chris Bishop says building and ex...

The Warehouse group is making a profit again, announcing its half-year results for the six months ending 26 January this year.  But results did show a revenue drop of 1.6% for the first half of 2024. The Warehouse interim Chief Executive John Journee talks to Ryan Bridge about the results.   LISTEN ABOVE. See omnystudio.com/listener for privacy information.

New Zealand's move out of recession is being felt by some much earlier than others.  Latest figures show our economy's grown by 0.7% between October and December.  But some sectors are faring much better than others, with construction and IT contracting about 3%, and transport and warehousing growing almost 2.5%.  Chartered Institute of Logistics and Transport Vice President Paul Ko...

New Zealand has climbed out of a recession as the economy grew 0.7% in the December quarter.  The outcome was better than economists predicted and Finance Minister Nicola Willis is pleased with the results.  What are the chances of the number being revised down again later?  New Zealand Herald Business Editor Liam Dann answers all the important questions with Tim Beveridge.  LI...

The US stock market is still undergoing a turbulent period, with more investors aiming to cut their losses. Donald Trump's tariffs still loom large over the market, with numbers dipping into the red after a short rebound. Milford Asset Management's Andrew Curtayne explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

18 councils and three council-controlled organisations have recently had their credit ratings downgraded by S&P Global Ratings. The credit rating agency has expressed concern that councils aren't receiving enough revenue to cover rising costs, including investment in infrastructure.   NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE See omnystudio....

Amid worldwide economic turmoil, the price of gold has hit a record high this week. It's broken through the US$3000 per ounce mark - and is currently up 15 percent since the start of 2025. Tony Coleman from New Zealand Gold Merchants says gold's been accelerating in price since the start of the Covid-19 pandemic - and Trump's second term as President has also helped push up the value.  LISTEN...

Global uncertainty and domestic cost-of-living pressures are hitting collective consumer confidence hard, according to new data. The Westpac McDermott Miller Consumer Confidence Index for the March quarter fell eight points to 89.2. Anything below 100 indicates a pessimistic view. Westpac senior economist Satish Ranchhod says confidence will likely trend upward as the year continues, but it'll be...

An employment relations expert says many workers want to discuss how much they earn - and should be allowed to. A Bill put forward by Labour would protect that right for employees. It's supported by all parties, except for ACT and New Zealand First.  Amy Ross says information about salaries belongs to the worker - and this bill would not force them to share it.  "If I want to be able to...

The OECD has downgraded its outlook for the global economy as a result of President Trump's escalating trade wars. Canada and Mexico are predicted to see the biggest impact, with Canada's growth outlook being halved and Mexico being expected to see a recession. HSBC chief economist Paul Bloxham explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Househunters are being offered $500 grocery vouchers or a free week's rent by Auckland landlords keen to lure them in. This comes as new TradeMe data shows the number of new rental listings in the city in February was up 34 percent on the same time last year - from 8049 to 10,805. Infometrics Principal Economist Brad Olsen says people looking for rentals have more choices than ever, because there'...

Auckland International Airport’s duty-free stores are set for a big makeover under a new partnership with French global travel retailer Lagardère. Lagardère successfully won an eight-year contract to operate the airport’s four duty-free stores from July, according to a new announcement. The airport says passengers can expect to see the next evolution of duty-free shopping. First Retail Group manag...

A new Wellington café is hoping a subscription-based coffee offer will help boost the company in a tough economic environment. For $70 a month, customers can have as many free drinks as they want - and for $30 a month, all drinks are $2 and for $15 a month, all drinks are half-price. Jarrod Strong from Eva's Garage says the service has had an 'amazing' amount of support from the cafe's regulars. "...