Best of Business

Kiwi start-up Recorp, backed up by some of New Zealand's biggest names in business, has opened up its new aluminium facility. The company is promising to be the most innovative can producer in New Zealand - and a direct threat to Australian competitors. Chair Rob Fyfe says it's a huge relief to get the company up and running. "I've been going for three years, a lot of money - and it's just, in the...

The Reserve Bank has warned the economic downturn is expected to get worse before it gets better, with unemployment being expected to worsen. The bank's biannual Financial Stability Report says unemployment will peak at 5.4 percent by 2025. Infometrics Principal Economist Brad Olsen says there are better economic times on the horizon - but there'll be 6-9 months of pain first.  LISTEN ABOVE S...

Students looking for summer work are struggling to land roles, as there's enormous competition for entry-level roles. Retail NZ says businesses are seeing a 'much higher calibre' of potential applicants looking for jobs. Swivel Careers founder Kate Ross says even people with full qualifications are finding it tough to land the right roles. "There's just not enough work out there right now. The eco...

There's still no relief for Australian homeowners as the RBA leaves rates unchanged at 4.35 percent. This decision falls in line with expectations from economists - as the nation grapples with the impacts of high inflation. Australian correspondent Murray Olds says it's looking more likely the Reserve Bank will not start cutting rates until 2025. LISTEN ABOVE See omnystudio.com/listener for privac...

48 hours ahead of the US presidential election, financial markets are gearing up for a Trump victory. Polls indicate the election result will be close, and some experts are warning people not to adjust just yet. Harbour Asset Management's Shane Solly unpacks the potential financial implications ahead of election day. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister says Chris Luxon's description of voters in a recent sit-down interview was a 'slip of the tongue' as part of his corporate background. In a new episode of 30 with Guyon Espiner , the Prime Minister referred to voters as 'customers' - and defended claims that he was out of touch with New Zealanders  Nicola Willis says Luxon is focused on delivering results above all, and...

There's green shoots emerging for New Zealand's struggling red meat sector, according to new reports. The Meat Industry Association claims exports to China in August were down 50 percent to $107 million compared with the same time last year. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Plenty of celebrities have expressed their support for supplement giant AG1 - but an investigation has dug up some questionable details about the company's founder. Founder Chris Ashenden has resigned amid a Newsroom investigation that raised questions over his criminal history and unpaid fines and reparations by his now-defunct firms.  Newsroom Pro managing editor Jonathan Milne says Ashende...

It's less than a week until voters in the US will cast their ballots and determine a new president - and experts are wondering about the economic impacts. No matter who wins, both Kamala Harris and Donald Trump have policies that could have implications regarding the future of international business. NZ Herald business editor at large Liam Dann explains what the candidates could do for New Zealand...

Auckland mayor Wayne Brown has launched a bid to establish a direct flight from Auckland Airport to Brazil's Sao Paulo. He believes this could boost trade between New Zealand and Brazil by up to $1.5 billion a year. NZIER Principal Economist Chris Nixon says this is a good idea - and could open up new opportunities for New Zealand. "Given the mayhem which is happening in the United States at the m...

Optimism is rising among businesses - largely driven by construction.  ANZ's October business outlook has business confidence up five points on 66, in a 10-year high.  Meanwhile, the proportion of businesses feeling they're faring well, has climbed to -11 in the highest point since March.  Chief economist Sharon Zollner says it boils down to interest rates.  She says fewer cons...

Spark has reduced its earnings and dividend guidance for the 2025 year, saying its financial performance 'falls short of what is acceptable'. The company said its operating earnings (Ebitdai) were expected to fall to around $1.12-$1.18 billion in 2025, down 4% from a previous forecast of $1.165-$1.22b. The company has reduced its dividend forecast from 27.5 cents to 25c, 75% imputed. Milford Asset...

BNZ is set to head back to court tomorrow as part of their ongoing legal dispute with Gloriavale. If the hearing goes well, the bank could get approval to close the accounts Gloriavale has with BNZ. NZ Herald Wellington business editor Jenee Tibshraeny reveals what could come out of tomorrow's case. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Small businesses want the Government to rethink regulations it describes as a burden.  A new report from Business NZ claims small Kiwi businesses are bogged down by compliance hurdles and complicated regulations, which it says cost time and money.  Business NZ CEO Katherine Rich told Mike Hosking politicians need to ease the burden, and not politicise it.  She says too often the deb...

The latest employment numbers for September 2024 show the job market is still in a tough spot. Annual filled jobs were down 0.9 percent compared to this time last year. Infometrics Principal Economist Brad Olsen says this is a tricky point for the economy - and things aren't expected to get better until mid-2025. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister has received early advice on how to better capitalise Kiwibank so it might compete better with the large Australian-owned banks. The advice is in response to the Commerce Commission market study on personal banking. Minister Nicola Willis says she hopes to bring more competition to the banking sector to improve things for Kiwi users. "If you look over to Australia, they had a...

The Ministry of Business, Innovation and Employment is asking for feedback on Kiwi postal services.  It's proposing changes to NZ Post - including fewer weekly deliveries and reduced postal outlets  People are sending 813 million fewer mail items than they were 20 years ago. MBIE Communications Infrastructure and Trade General Manager James Hartley says this is the right time to hear fro...

Treasury's advised the Government of three options to boost Kiwibank's capital to better compete with the Australian-owned banks.   They include borrowing money for Crown investment, third party investment, or an Initial Public Offering on the share market.   It comes in response to the Commerce Commission market study on personal banking.  Massey University Business School associat...

This time last year Arepa found themselves in hot water after the government officials decided that made unsubstantial health claims of cognitive and physical boosting abilities, they are forced to amend these claims and now back launching a new brain drink – Uplift. Co-Founder of Arepa, Angus Brown told Heather Du Plessis – Allan that this time round he's proud to call the "brain drink” because o...

Plenty of Kiwi customers are still enjoying Netflix's output - and the company's doing well among investors. But as times get tough, the streaming giant has walked back on an earlier promise and looks to introduce ads on the service. Fisher Funds expert Sam Dickie explains why Netflix has made these changes. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Minister for Trade and Agriculture is in Brazil on a New Zealand Trade Mission to São Paulo.   Todd McClay is expected to meet with experts and business leaders to bring the nations closer together. The Country's Rowena Duncum explains the opportunities that could come out of these meetings. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Electricity Authority said market options were available to big power users during the winter price spike that some blamed for their closure. The closures prompted the EA – the regulator – to investigate the options available to big power users, and it found hedges available tended to be lower than the overlapping average ASX price at the time. Last month, a number of Kiwi businesses, includin...

David Seymour's new school lunch programme has opened up more concerns - this time from environmentalists.  The new lunches are expected to come in aluminium trays and non-compostable packaging, prompting worry about sustainability, with some suggesting the food should come in less 'wasteful' packaging. Ecoware co-founder James Calver has raised concerns about the lack of recyclable materials...

As the latest US earnings season picks up, one famed luxury good company has caught attention for all the wrong reasons. LVMH's earnings report left investors disappointed, with its key Fashion & Leather Goods division seeing a 5 percent revenue drop this quarter. Milford Asset Management's Stephanie Batchelor explains what's causing this drop. LISTEN ABOVE See omnystudio.com/listener for priv...

Experts from Australia and New Zealand are meeting with leaders in Malaysia to discuss how to improve business and security. The three groups are expected to discuss new opportunities and challenges - and outline new solutions. Infometrics Principal Economist Brad Olsen explained what could come out of these discussions. LISTEN ABOVE  See omnystudio.com/listener for privacy information.