Best of Business

The Prime Minister has taken aim at the chief executives of New Zealand’s largest banks saying it was 'utterly unacceptable' that some were withdrawing banking services from petrol stations and mines. Chris Luxon joined Mike Hosking earlier today to explain that the banks needed to keep funding businesses Kiwis need to keep moving forward - and expressed concern at rural petrol stations in particu...

Wellington housing valuations have taken a dive, with no suburb unscathed.  QV valuations show house values have fallen 24.4 percent since 2021, with the average house value now sitting just under $1.1 million. Auckland valuations are expected to show little movement since 2021.  City Councillor Ben McNulty says it won't change rates bills much. "The council has decided it needs 13 perce...

New Zealand could have one of the least competitive corporation tax rates - but that could change by May. The Prime Minister has hinted this year's Budget could make way for relief.  The rate has stayed on 28 percent since 2011 - but Finance Minister Nicola Willis is making comparisons with countries like Ireland, with a 12.5 percent rate. Advisory expert Robin Oliver says such a change would...

Kāinga Ora is focused on bringing down its building costs going forward. The Government is taking aim at its pricing - saying it is refocusing the state landlord on basics. A new review judged Kāinga Ora was paid about 12 percent more for building houses, when compared to the market. Chair Simon Moutter says the costs were partly due to higher design specs than needed. "Social housing does require...

One expert believes the US could potentially establish a Free Trade Agreement with New Zealand. Donald Trump is set to meet with the leaders of Canada and Mexico after both nations revealed they planned to impose their own tariffs in response to the President's newest scheme. Former US ambassador to New Zealand Scott Brown says he hasn't heard any plans to impose tariffs on New Zealand. LISTEN ABO...

The Finance Minister's floated potential tax cuts for corporations.  Speaking to Ryan Bridge about economic growth, Nicola Willis says our corporate tax rate is reasonably high compared to the rest of the world.  Asked if she's planning to lower the tax to encourage investment in the country, Willis says while the money would have to come from somewhere, they're looking at a range of pot...

There's belief the job market is tougher for teens without any experience than ever before. Hawke's Bay local Kaitlin Elsworth has spent two years searching for her first paid job. The 18-year-old says rejection letters usually blame it on a lack of experience. Swivel Careers founder Kate Ross says that's always the hardest aspect for teens - but they shouldn't give up. "I encourage people of that...

A new app connecting businesses and truckies is looking to fill labour shortage across the ditch following a successful launch in New Zealand. Road Ninja has been dubbed 'the love child of Tinder and Uber' - as it matches up companies looking for hireable help with skilled drivers in their area. CEO and founder Bodhi Vette says the company's built a pool of skilled and reliable workers, and they'r...

The Government has recently unveiled its future plan for mining with the release of the minerals strategy and critical minerals list - with the goal of doubling the country's mining exports by 2035. This development has been well-received by industry experts, but environmental groups have voiced their concerns. Straterra CEO Josie Vida says this development sends positive signals to the rest of th...

Proving life is what you make it, I walked into a local restaurant over the holidays.  It's Italian and very good, and they have a new owner.  Who was this person, I inquired?  He came from hospitality, had worked in the city, but he and a mate had decided to, as he put it, take a punt. "It's better to be an owner than work for someone," he said.  I immediately admired him.&nbs...

New Zealand remains in the dark about Donald Trump's tariff plan, as new data shows the US has overtaken Australia as our second largest destination for exported goods.  Business NZ Advocacy Director Catherine Beard told Andrew Dickens blanket tariffs wouldn't have the same impact as targeted tariffs.  She says it would mean the cost will be passed on to the US consumer rather than havin...

FIRST WITH YESTERDAY'S NEWS  (highlights from Thursday on Newstalk ZB) Why Else Would They Turn Away Business/How To Succeed In Business/Mark the Week/Cheating Old Musk/Coffee Isn't Going Anywhere See omnystudio.com/listener for privacy information.

There's been plenty of volatility in the tech market this week off the back of the recent DeepSeek fiasco. Despite things picking up after this week's crash, experts are still wondering what's set to happen next. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Kāinga Ora has announced it will allow wool carpet providers the chance to tender for supply of carpet and underlay in its homes. The agency has spent the last few years using nylon carpets - citing durability and cheaper prices.  The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The US Federal Reserve has left its benchmark interest rate unchanged, due to stubbornly high inflation. US President Donald Trump has voiced his disapproval with this move and accused the central bank of mishandling the economy. NZ Herald business editor at large Liam Dann unpacks this result - and explains why it's unsurprising rates were left on hold. LISTEN ABOVE See omnystudio.com/listener fo...

Growing demand for burger meat has super-charged New Zealand's exports to the United States. The US has recently overtaken Australia as New Zealand’s second-largest export market last year, according to new Stats NZ data. ANZ economist Henry Russell says this is good news for New Zealand's beef industry, which has been hit hard by decreased demand from China. "The US market has actually overtaken...

Experts are warning things are set to get 'very scary' for New Zealand's coffee and café industry. Global supply chain disruptions and worsening climate conditions have been driving up production costs - and one leading presence in the coffee world warns that these costs will be passed on to businesses. New reports show the average green coffee price had lifted from $3.76 a kilogram in 2020 to $10...

Sales teams are still bracing for some tough months ahead, according to consultancy firm Indicator's latest survey of sales team leaders.  Only 39% of respondents say they’re achieving growth – the lowest seen since the survey began in 2008.  Indicator CEO Mike Stokes told Mike Hosking four in five don't think we're out of the woods yet.  He says most say we'll recover in the second...

The UK Government is looking to 'fight for growth' and expand the resources dedicating to funding major airports. British finance minister Rachel Reeves is expected to throw her support behind the expansion of Heathrow Airport in a bid to boost the economy.  UK correspondent Gail Downey explained what else people could expect ahead of the incoming update.  LISTEN ABOVE See omnystudio.com...

Over in the US, tech stocks have picked up again after a 3 percent selloff after Chinese startup DeepSeek caused a storm in the AI industry. The stocks took a dive earlier in the week after DeepSeek stunned the tech world by revealing it could compete with US counterparts at a fraction of the cost. Milford Asset Management's Andrew Curtayne explains what this means for the wider world of AI. LISTE...

Bank switching surged in December, as those with mortgages appear to have shopped around for cheaper debt at a record rate. Just over $2 billion of mortgage debt changed hands between banks and non-banks during the month - a record amount since at least 2017 when Reserve Bank records began. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE See omnystudio.com/list...

Fonterra is investing $150 million into electrification over the next 18 months. The collective says the projects across the North Island are a significant step towards its climate goals and operational resilience.  It includes electric boilers at the Whareroa, Edgecumbe, and Waitoa sites - and more fleet decarbonisation.  Fonterra's Director of Global Engineering, Chris Kane, says the r...

More roads could get faster - beyond the Government's planned changes to speed limits on 38 sections of road. The Government is reversing speed limit reductions on those stretches by July, with work set to start tonight. The Prime Minister believes it'll help people get to jobs faster, pushing economic growth. Transport Minister Chris Bishop says 49 roads deemed 'more complicated' will be consulte...

New data shows more people are concerned about work, housing, and health, according to research by NZCTU. The council's annual Mood of the Workforce survey polled over 1900 people - and many of these respondents have voiced concern with the direction the Government has taken the country. NZCTU President Richard Wagstaff says there's been a significant shift in the last 12 months - as people believ...

There's speculation the Government may be looking to sell off Landcorp as the asset continues to underperform. Long-standing agricultural consultant Will Wilson has noted it's worth $1.6 billion - which is significantly less than it was a year ago. The Country's Jamie Mackay explains further. LISTEN ABOVE  See omnystudio.com/listener for privacy information.