Best of Business

The Government's hopeful that digital nomads will help grow New Zealand's economy off the back of their recent visa change. Finance Minister Nicola Willis hasn't confirmed how many the nation can realistically expect to arrive - but she's got faith in this strategy. Infometrics Principal Economist Brad Olsen unpacks the current hotspots for digital nomads - and reveals what New Zealand can do to g...

US stocks took a sharp drop - and experts are feeling wary - after a Chinese artificial intelligence startup posed a threat to America's technology industry. DeepSeek unveiled a new ChatGPT-like AI model called R1 that operated at a fraction of the cost of OpenAI’s, Google’s or Meta’s models, causing the Nasdaq to plunge by 3.1 percent.  US markets analyst Scott Shellady says the $5.6 million...

The richest man in the world, Elon Musk is a controversial man with a history of innovation and entrepreneurship.  He’s one of the most talked about men in America, and after hitching his wagon to Donald Trump in the election, now one of the most influential players in US politics.  Musk was the largest donor in the 2024 election cycle, spending at least US$277 million to back Trump’s ru...

It's set to be a big week for the US' biggest tech companies. Meta, Microsoft, Apple, Amazon and Tesla are all expected to report their results in the coming days - and it's likely these businesses will be expecting a boost from the new presidential administration.  Mark Lister from Craigs Investment Partners explains what we can expect. LISTEN ABOVE See omnystudio.com/listener for privacy in...

Following the closure of the Tangiwai Mill in the Ruapehu District, forestry company Ernslaw One has found a new way to continue production and keep contractors in work. They've struck a deal with KiwiRail and Napier Port where log trains now run five days a week on the Napier-Palmerston North line, dropping off 600 tonnes of logs to Napier Port. It removes 21 logging trucks off the road. Napier P...

The Finance Minister is determined to get tourism figures back up to their pre-pandemic levels - and she hopes the newest batch of visa changes will speed that along. From today, visitors can work remotely for overseas companies while holidaying in New Zealand for up to nine months, but they may need to declare themselves New Zealand tax residents if they stay for over 90 days. Nicola Willis says...

Overseas visitors may need an extra nudge to come here, even with relaxed visa requirements aiming to attract digital nomads to spend more. From today, they're allowed to work remotely for an overseas employer for up to 90 days.  Accommodation provider LyLo director Tim Alpe says it'll suit foreign tourists - but the challenge is telling them about it.  "We've got to get out internationa...

Ohakune is basking in the closure of Desert Road, as businesses are reaping the benefits of a detour.  The Mountain Rocks Café & Bar owner Karl Christensen said his business hasn't been so busy since post-lockdown.  "We've got this flow of traffic, nose to tail through town most of the time, and it's just blown us away really," he said. Maintenance is projected to take two months.&nb...

The United States has stood out as the only major economy experiencing significant expansion amid Global PMIs.  The economic health indicator was a mixed bag for manufacturing and service sectors.  Meanwhile, luxury brand Burberry has soared 10% on its quarterly update.  And back home, why are things are looking up for the red meat sector?  Devon Funds Management representative...

The Government's proposed changes to the science sector have raised a few eyebrows among the nation's scientific community. The Government aims to merge seven Crown Research Institutes into three public research organisations - and creating another focused on AI.  It's also closing Callaghan Innovation, impacting about 355 staff.  Auckland University professor Richard Easther says this i...

How has China reacted to Donald Trump's threat to put a 10% tariff on China as early as February 1st?  Is China warming up to allowing TikTok to be sold as part of a deal with the US? Who is in the running to be the app?  And Donald Trump and Xi Jinping talked on the phone this week, what did they discuss?  Asia Business Correspondent Peter Lewis joins the show.  LISTEN ABOVE.&...

So we have an inflation number, which is better than not knowing, but it doesn’t tell us much. 2.2 percent for the year to December, no change from the quarter before it and crucially non-tradable inflation, the stuff we should have more control over domestically is sticky at 4.5 percent. Two main problems here, one for us and one for the Government. If the exchange rate keeps tanking, the stuff w...

Two farms have been suspended from New Zealand Merino’s ZQ quality standard supply programme after undercover videos appeared to show animal welfare breaches. People for the Ethical Treatment of Animals (PETA) claimed that a recent investigation uncovered cruelty towards sheep on these farms - forcing MPI to take action. The Country's Jamie Mackay says people reportedly stood on sheep's necks, dra...

Prime Minister Chris Luxon laid out his vision for growing the economy as part of today's State of the Nation address - and pointed the finger at the country. Luxon pushed the need for more jobs, investment and innovation, and criticised New Zealand's 'culture of saying no' that was holding back new developments. NZ Herald business editor at large Liam Dann explains further. LISTEN ABOVE See omnys...

Facebook and Instagram users have recently noticed their accounts have started following President Donald Trump, his wife Melania and Vice President JD Vance without their prior knowledge. Gracie Abrams and Demi Lovato are among the famous names who have posted complaints Meta won't let them unfollow these accounts, with Abrams eventually being forced to block them altogether.  Others have al...

The Trade Minister says he wants deals through the door this year - with a Government goal of tempting overseas funding. A new agency called Invest New Zealand will roll out the red carpet out to foreigners with money to put into infrastructure and key sectors. Todd McClay says he doesn't want reports, he wants deals with investors. "They certainly don't invest in a country when Government agencie...

Tourism Industry Aotearoa is excited about the Government's new growth agenda. Minister-in-charge Nicola Willis is considering visa changes, hoping to pull in more tourists. Just over 321,000 people entered the country from overseas in November - 86 percent of pre-pandemic figures. CEO Rebecca Ingram says there's lots of room to build on that.  "So as an industry, we're delighted to see such...

Donald Trump officially got the keys back to the White House earlier this week - and his return to power could have an impact on NZX-listed businesses. Fisher & Paykel Healthcare produces medical devices sold in the US, and it's likely the incoming tariffs could leave an impact. Milford Asset Management's Jeremy Hutton explains further. LISTEN ABOVE See omnystudio.com/listener for privacy info...

New reports indicate the Indian Government is sounding out the nation's biggest businesses to determine how they feel about a trade agreement with New Zealand. The Indian Government reportedly sent an email to members of the Federation of Indian Chambers of Commerce and Industry asking for feedback on the idea of starting negotiations with NZ on a free trade agreement. India NZ Business Council ch...

A media commentator says cuts at NZME are just the latest in a troubled industry.  NZ Herald and Newstalk ZB owner NZME is proposing a restructure, with a net loss of about 38 roles. Spinoff founder Duncan Grieve says all around the world massive cuts are taking place while other brands disappear completely.  He says it's not a problem which is likely to go away. "It wouldn't shock me if...

Confidence another substantial Official Cash Rate cut's on the cards, with today's figures showing inflation is still under control. Stats NZ says the rate for the year to December remained unchanged at 2.2 percent. Inflation is well down from the 2022 high of 7.3 percent, but still higher than the 1.5 percent reached in 2021. Infometrics Chief Forecaster Gareth Kiernan says he's confident the Res...

There’s a belief we're still yet to reap the benefits of having inflation under control.  Latest Stats NZ figures show the inflation rate for the year to December was 2.2%, unchanged from September.  Inflation is well down on the once-in-a-generation high of 7.3% of just two and a half years ago.  The Herald's Liam Dann told John McDonald we're still yet to see many prices come down...

Business executives, academics, Government officials and civic leaders are expected to gather in Switzerland for the World Economic forum - and there's one key name on everyone's lips.  Donald Trump's return to the White House is set to be a topic of discussion, with experts set to participate in an upcoming '47th US Presidency, Early Thoughts' panel. UK correspondent Enda Brady says wars, mi...

Over in Australia, the unemployment rate increased to 4 percent in December - raising questions ahead of a potential interest rate cut next month. Unemployment is one of the key metrics the RBA uses to inform interest rate settings, and a weakening market could encourage the central bank to reduce rates. HSBC chief economist Paul Bloxham explains further. LISTEN ABOVE See omnystudio.com/listener f...

It's been a big week for the US, with Donald Trump returning to the Oval Office for his second term as US President. His plan for tariffs has sparked concern among many key industries, with Kiwi farmers wondering what this means for one of New Zealand's biggest red meat markets. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.