Best of Business

South Korean Lawmakers Move To Impeach President Yoon  South Korean MPs have begun impeachment proceedings against President Yoon Suk Yeol hours after thwarting his shock move on Tuesday to impose martial law. This has triggered the country’s worst constitutional crisis in decades. The president had said martial law was needed to protect the country from "North Korea's communist forces" and t...

New reports show there's been a significant decrease in lambs for spring 2024, compared with this time last year. The B+LNZ 2024 Lamb Crop Report indicated 1.1 million fewer lambs were tailed/docked compared to 2023, bringing the total lamb crop to an estimated 19.2 million.  The Country's Jamie Mackay explains what this means for the market. LISTEN ABOVE See omnystudio.com/listener for priva...

Dairy giant Fonterra has  raised its forecast milk price payout to a midpoint of $10 - the second rise in less than a month. The company says this new forecast reflects strong international demand, particularly from China and Southeast Asia. Fonterra's CFO Andrew Murray says this news has been received positively by farmers. "US production is very flat and European production is down - so the...

The Government is looking to crack down on merger rules. The Ministry of Business, Innovation and Employment is reviewing the Commerce Act - which could lead to blocking more proposed mergers and acquisitions.  It's also hoping to give the Commerce Commission more teeth. Commerce and Consumer Affairs Minister Andrew Bayley says they're making sure the laws are fit for purpose. "We've got a nu...

One in three first home buyers in New Zealand have received financial help from the Bank of Mum and Dad, new reports claim. A Kiwibank study has found high property prices are keeping young people out of the market - meaning more Gen Z and millennial buyers have turned to parental support to get on the ladder. Lesley Harris from the First Home Buyers Club says the Bank of Mum and Dad remains the n...

It hasn't been a great year for the NZX, but one expert believes things are in place for a better 2025. The reduced interest rates could lead to a better outlook for investors going forward, according to new reports. Milford Asset Management's Sam Trethewey explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government has unveiled plans to reduce the amount aggrieved employees can be compensated by their employers – to zero in some cases. Minister Brooke van Velden has detailed proposed changes to the Employment Relations Act, which are aimed at giving egregious employers more power in disputes with employees, who have behaved badly themselves.  NZ Herald Wellington business editor Jenee Tib...

Kāinga Ora has copped some backlash for scrapping wool carpets in favour of nylon synthetics in state houses. The agency has released a request for proposal for companies to provide carpet and underlay for its state homes - but claimed nylon was 34 percent cheaper than wool alternatives. Associate Agriculture Minister Mark Patterson has voiced 'disappointment' with this choice. "We're trying to re...

The Ministry for Primary Industries says it's possible there'll be more cases of bird flu at an Otago egg farm. The culling of 80,000 chickens at the Mainland Poultry property in Moeraki will begin tomorrow. The Country's Jamie Mackay explained this won't create too much trouble for the sector - as there's millions of layer hens in the country. LISTEN ABOVE See omnystudio.com/listener for privacy...

One expert has offered a theory about why SolarZero met the end that it did. The Kiwi-founded solar and battery firm was placed into liquidation - costing over 160 employees their jobs. Lightforce Solar owner John Harman says SolarZero offered an 'amazing' deal for consumers - but economic factors have created additional trouble for the sector.  LISTEN ABOVE See omnystudio.com/listener for pr...

Over in Australia, economists have accused the Reserve Bank of mishandling the OCR. Experts claim the central bank has been too focused on keeping unemployment high - impacting the livelihood of hundreds of thousands of Australians. Australian correspondent Murray Olds says the Reserve Bank is in a tough spot - but it can't undo months of progress. LISTEN ABOVE See omnystudio.com/listener for priv...

President-elect Donald Trump's latest policy announcements continue to have an impact on capital markets. Trump's pick of Scott Bessent as Treasury Secretary sent long-term Government bond yields lower and the US share market higher - as investors felt more confident in a 'seasoned' choice taking on the role. However, his threated tariffs on China, Canada and Mexico created a divided response amon...

The National Public Health Service is exactly what's wrong with this country. The Health Minister, who shouldn't have had to, intervened in their submission to the district council looking at the application for McDonald's in Wanaka. Why was the health service offering a submission? Because the council asked them to. So who is more at fault (the answer is of course both of them), the council for c...

More details have emerged in the wake of SolarZero’s shock liquidation, which affected 160 employees. The company revealed on Tuesday that the business was unable to continue trading, citing 'unsustainable operating losses and liquidity constraints'. Former employees have since spoken out against the company -  and one of them, Mike, has unveiled some concerns ahead of a planned protest tomor...

The OCR was slashed by 50 basis points today - but some markets believe it could have gone lower. Some experts believed a chunkier 75 point cut was on the way before the Reserve Bank took its summer break. Milford Asset Management Portfolio Manager Katlyn Parker unpacked the response further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Many mortgage holders will be relieved to hear that the OCR has been brought down by an addition 50 basis points. Despite this, one expert is warning that borrowers might need to keep their enthusiasm about the interest rates in check. NZ Herald Wellington business editor Jenee Tibshraeny explained that there were other factors impacting interest rates. LISTEN ABOVE See omnystudio.com/listener for...

There's questions over what will come next for the OCR after today's 50 basis point cut. The Reserve Bank has hinted more cuts will come in the new year. However, Infometrics Principal Economist Brad Olsen has warned this might not be the right approach. "A lot of economic forecasters are wondering - when do we get back to those more normal and considered steps, given that the economy is already s...

Homeowners can expect some relief - as the Reserve Bank cuts the OCR down in its final update of the year. The central bank has slashed the rate 50 basis points today - to sit on 4.25 percent. It's now forecasting 4.1 percent by March next year, 3.6 percent by the end of next year, with an endpoint of 3.1 percent by March 2027. ZB political correspondent Barry Soper says Governor Adrian Orr has wa...

Some positive news for mortgage holders. The Reserve Bank has cut the Official Cash Rate another 50 basis points to 4.25 percent. ANZ, ASB, BNZ, Kiwibank and The Cooperative Bank have all lowered their rates in response. NZ Herald business editor at large Liam Dann says the central bank is pointing to a few more cuts over the next six months. LISTEN ABOVE See omnystudio.com/listener for privacy in...

Donald Trump's return to the White House could lead to a more complex landscape for global food and agricultural trade, according to a new report by Rabobank. Rabobank says the implications of Trump's proposed policy shifts could be potential disruptions to established trade relationships, shifts in export demand, and rising costs for consumers and businesses alike. The Country's Jamie Mackay expl...

President-elect Donald Trump has threatened to hit Mexico, Canada and China with new tariffs as soon as he takes office. In a post on social media, Trump promised to charge Mexico and Canada an additional 25 percent tariff on all products they send to the US - and an additional 10 percent tariff will be placed on Chinese goods. Infometrics Principal Economist Brad Olsen says these trade changes co...

The Reserve Bank is set to make its final decision for the Official Cash Rate for the year tomorrow afternoon.  The general consensus among experts is that the OCR will be cut by at least 50 basis points. HSBC chief economist Paul Bloxham says the Reserve Bank needs to strike the right balance for the economy. LISTEN ABOVE See omnystudio.com/listener for privacy information.

24 November 2024:  Sarah Trotman, ONZM, business leader and elected member on Auckland Council’s Waitematā Local Board, talks to Hamish Williams and psychologist Dr Emma Woodward about how the business world has taught her about anxiety and learning how to fail. With thanks to NZ on Air. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Air New Zealand isn't going into the 2025 financial year with rosy expectations.  The airline expects its first-half pre-tax profit to be in a range of $120 million to $160m, down from $185m in the previous comparable half year. Harbour Asset Management's Shane Solly unpacked the mood of investors. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nvidia's reported third-quarter earnings have surpassed expectations - and left the chip maker feeling optimistic about its future. The company's earnings delivered a better-than-expected forecast for the next quarter. Fisher Funds expert Sam Dickie explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.