Best of Business

It's a tale of two islands when it comes to the economy.   The Westpac Regional Roundup shows many businesses and households are suffering from the slow economy.   Westpac Senior Economist Satish Ranchhod says feedback from the North Island was more downbeat, with Wellington being the worst off because of a shrinking public service.   He says there was a rosier picture in the South...

Nuclear energy is experiencing a resurgence in interest amid concern surrounding shortages. Its greenhouse gas emissions are smaller than most - and  reactors produce reliable baseline electricity cheaply and efficiently. Fisher Funds expert Sam Dickie unpacks whether nuclear energy can have a future in New Zealand. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Business leaders have given their verdict on the Government in the Herald’s Mood of the Boardroom survey. Some experts have noted that as the country enters an interest-rate cutting phase, now is the time to have a discussion about the make-up of ongoing retirement savings. NZ Herald business editor at large Liam Dann says there's a clear mood for change as the economy enters a new phase. LISTEN A...

The Finance Minister is pleased the nation's business heavyweights share her values and priorities. The Herald's annual Mood of the Boardroom survey has found CEOs and board members are more optimistic than pessimistic about the economy. But they still have concerns about things like energy, living costs, interest rates, cyber security threats and insurance costs. Nicola Willis says it's good to s...

Christchurch's Business Association is calling out the food truck plans of the city's Arts Centre.   The centre's applied for licences for 33 trucks to operate 12 hours a day, seven days a week.  But the Christchurch Business Association believes this is unfair, with chair Annabel Turley saying city businesses are subsidising the Arts Centre.  She told Heather du Plessis-Allan that...

Senior business leaders are rating Christopher Luxon well on keeping his Cabinet focused on delivery, and Education Minister Erica Stanford well on performance.  More than 100 CEOs and board chairs have been quizzed for today's Mood of the Boardroom survey.  They've identified energy prices as their biggest concern, followed by the cost of living.  Dame Joan Withers, Chairperson for...

A proposal to re-develop Marsden Point's decommissioned refinery is being considered. Channel Infrastructure NZ recently entered a conditional agreement with Seadra Energy to create a bio-refinery at the Northland site.  Seadra would purchase it for about $53-million and use some existing, decommissioned assets like tankage and jetties. Milford Asset Management's Jeremy Hutton unpacks what th...

Politicians of all stripes say the Government shouldn’t try to stop the values of properties vulnerable to the effects of climate change from plummeting. In fact, they believe there is room for at-risk property values to fall further to discourage investment in flood-prone parts of the country. NZ Herald Wellington business editor Jenee Tibshraeny unpacks these findings further. LISTEN ABOVE See o...

The Government has continued its push to increase the use of remote building inspections to speed up the construction and consenting process. Building and Construction Minister Chris Penk has voiced disapproval with the current process - and claimed that remote inspections will make the building process more efficient and affordable.  NZ Certified Builders CEO Malcolm Fleming says this proces...

Genesis Energy has confirmed it will  spend $64 million on taking a majority stake in ChargeNet - the nation's leading EV public charging network. Under terms of the agreement, Genesis will acquire a 65 percent stake in ChargeNet, which was founded in 2015 by tech entrepreneurs Steve and Dianna West.  Genesis chief retail officer Stephen England-Hall says decarbonising New Zealand's tran...

Australian retail sales rebounded by more than expected in August as warmer weather brought forward spring spending after a midwinter slump. According to the Australian Bureau of Statistics, retail sales rose 0.7 percent - beating out initial predictions of 0.4 percent. HSBC chief economist Paul Bloxham says it's clear recent tax cuts have driven up consumer spending. LISTEN ABOVE See omnystudio.c...

Construction continues to slow, although consents for office and public transport buildings have risen 26 percent. Stats NZ says new home consents dropped 20 percent in the year to August - and standalone new builds fell 9.7 percent. Consents for townhouses, apartments, retirement village units, and flats are down 27 percent. Infometrics Principal Economist Brad Olsen unpacks the factors behind th...

Another Global Dairy Trade auction is expected to take place tonight - and experts are predicting more good news this time round. There was a substantial life off the back of the previous auction - with a 0.8 percent increase across the board. The Country's Jamie Mackay outlined his predictions ahead of tonight's results. LISTEN ABOVE See omnystudio.com/listener for privacy information.

NZIER's latest Quarterly Survey of Business Opinion (QSBO) shows a marked improvement in business confidence in the September quarter. A net 5 percent of firms expect a deterioration in general economic conditions over the coming months - a significant drop from the net 40 percent that expected a downturn three months ago. NZIER deputy chief executive Christina Leung says demand was quite weak ove...

Foodstuffs has argued a merger blocked by the Commerce Commission would benefit consumers and suppliers.  The competition watchdog has decided merging the chain's North and South Island co-ops would substantially lessen competition.  Foodstuffs North Island CEO Chris Quin says they're likely to appeal the decision - based on the evidence they have at this point. He says the move wou...

Kiwis struggling to stay afloat have turned to credit cards to bridge the cap amid an ongoing cost-of-living crisis. New credit card application enquiries have reached their highest level since 2021- and card arrears have jumped 4.4 percent in August. Sorted Personal Finance Lead Tom Hartmann says living costs have increased and bills have piled up - and people feel the need to borrow their way th...

Over in China, regulators recently announced a range of monetary and fiscal stimulus policy changes aimed at fostering economic stabilisation and improving consumer confidence. Official interest rates were cut and the Government announced a number of central bank spending programmes aimed at stabilising housing and supporting consumption. Harbour Asset Management's Shane Solly unpacked these new p...

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers.  The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion.  It took a total non-cash impairment of $114.6 million during the year against its long-term assets.  CEO Grant Watson...

The wine industry is hoping a new programme will help double production.  The Government is investing $5.6 million over seven years into the programme, Next Generation Viticulture. It aims to grow vines more efficiently, turning sunlight into grapes. NZ Winegrowers Research Centre CEO Dr Juliet Ansell says it will redesign canopy management. "It enables the vines to capture as much sunlight a...

Auckland mayor Wayne Brown aims to disestablish the city's tourism and economic development agency. The mayor is progressing plans to fold Tātaki Auckland Unlimited back into council control and reduce its functions. He says the agency spent more than $700,000 on a campaign promoting Auckland to Aucklanders. He says these things need to stop happening with ratepayer money. Hospitality New Zealand...

There's growing concerns about the future of small town New Zealand - with one expert warning 'tough conversations' are needed. The closure of Winstone Pulp International's Ruapehu mills have cost the region 230 jobs, and the proposed shutdown of Alliance Group’s Smithfield meat processing plant in Timaru could cost over 600 more. Regional Development Minister Shane Jones says the need to achieve...

Former industry giant Intel used to dominate the computer chip market - with significant presence in the world of PCs and servers. However, the company's market share has plummeted and it runs the risk of being bought out by rivals. Fisher Funds expert Sam Dickie explains what went wrong for the business. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwi dairy farmers can breathe a sigh of relief following Fonterra's successful results. The dairy giant posted a $1.1 billion dollar net profit and confirmed a 55 cent total dividend for the past financial year. The Country's Jamie Mackay explains what this news means for the wider dairy sector. LISTEN ABOVE     See omnystudio.com/listener for privacy information.

Leading Kiwi retailer The Warehouse Group has posted a significant net loss off the back of a tough trading environment. The company today posted it announced a net loss of $54.2 million - a contract to last year's $29.8 million net profit. NZ Herald business editor at large Liam Dann says it's unclear if the Warehouse can recover from this. LISTEN ABOVE See omnystudio.com/listener for privacy inf...

The Trade Minister has revealed how he managed to get the trade agreement with the United Arab Emirates over the line so quickly. Todd McClay and counterpart Minister Al Zeyoudi signed the deal this morning to remove 98.5 percent of export duties on goods. McClay says he'd been working negotiators hard for four months following an exchange earlier in the year. "We made a commitment together then t...