Best of Business

A new survey by ASB indicates Kiwis aren't expecting house prices to pick up again anytime soon. According to ASB's Housing Confidence survey, a net 13 percent of respondents believe house prices will go up - down more than 30 percent compared with last quarter. A net 20 percent of respondents now expect lower interest rates and only a net 8 percent think now is a good time to buy. ASB chief econo...

The US market is up almost 20 percent on the year - but big names like Starbucks, Nike, and Lululemon have been struggling. The consumer discretionary sector has jumped 6 percent, with a number of companies being dubbed 'fallen angels'. Milford Asset Management's Stephanie Batchelor explains how investors can proceed. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Savers have rushed to lock in high interest rates ahead of the Reserve Bank cutting the OCR for the first time in more than four years. New RBNZ data shows households put an extra $2.1 billion in term deposits in July - which saw the amount of money held in term deposits rise to a record $136 billion. NZ Herald Wellington business editor Jenee Tibshraeny explains why people have been making these...

The Commerce Minister says a third big player in our supermarket sector is unlikely to come from overseas. A first annual Commerce Commission report on the grocery market has found no meaningful improvement in competition. It wants New Zealand's two major operators - Foodstuffs and Woolworths - pressured more and for it to be made it easier for a third to enter. Minister Andrew Bayly says overseas...

The Grocery Commissioner says the returns our big supermarkets get on assets is about double what overseas equivalents make. The Commerce Commission's first annual report into the grocery market shows competition hasn't meaningfully improved. It flags increasing margins and high profitability. Pierre van Heerden says overseas grocers make less because they have more competition. "The return on ass...

Australia's GDP data is set to be released tomorrow - and experts are outlining their predictions. This follows last week's inflation data, which is currently at 3.8 percent for the year to July. HSBC chief economist Paul Bloxham is predicting weak economic growth, but rate cuts aren't looking very likely. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Growing global demand for dairy products and a flat milk supply could be setting the stage for a near-record farm gate milk price this season. With nine months left in the 2024-2025 season, Jarden and ANZ have outlined their predictions ahead of the latest GDT austion. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand's chief financial officers have revealed their thoughts in a first of its kind survey. Hunter Campbell's report reveals 42 percent expect challenging conditions with positive opportunities over the next year. The survey also revealed 41 percent of CFOs met or exceeded their revenue growth target in 2024. Infometrics Brad Olsen says they provided a range of concerns including costs, reg...

Fonterra is set to invest $150 million to build a new plant at its Edendale site in Southland to meet growing demand from Asia. The plant will produce UHT cream - a product that expected to experience growing demand over the next decade. Fonterra CEO Miles Hurrell says this venture will open up at least 70 new jobs in the area. "We've got a strong pipeline of people coming through right across the...

Inland Revenue is being asked not to seesaw on its stance, with rising liquidations across the country. Centrix's July figures reveal business liquidations are up 19 percent overall year-on-year. They sparked spiked sharply in Auckland in the second quarter, up 33 percent annually. Auckland Chamber of Commerce CEO Simon Bridges says he thinks IR's hard-line approach is behind a majority of closure...

Today, the Government has done the thing that the tourism industry was hoping they wouldn't do and increased the visitor levy - the amount that tourists pay to come here - from $35 bucks to $100. That is the high end of what they were considering. The Government could have gone with $50, or $70, or just left it at $35. But they went full noise to $100. Now in principle, I'm on board with this. I'v...

A New Zealand entrepreneur and former Waitakere City Mayor are getting behind a waka-shaped museum on Auckland's waterfront. Sirs Ian Taylor and Bob Harvey say a mega attraction on Wynyard Point could be Auckland's answer to the Sydney Opera House. Sir Ian says he wants to explore its commercial viability. He says he wouldn't want the Government to have to fork out for it. "It could be an iwi, it...

Retirement village operator Ryman Healthcare is raising prices and slowing down construction efforts to repair its financial holes.  The company has raised its deferred management fee (DMF) and made three senior executives redundant in order to get profits back up. Ryman Healthcare executive chair Dean Hamilton says people are living longer and staying longer - and they need to restructure to addr...

Markets around the world are pricing in potential cuts to interest rates. Last Friday saw PCE inflation in the US rise 0.2 percent over the month to be up 2.6 percent on a year ago, bolstering federal rate cut expectations. Harbour Asset Management's Shane Solly explains why this has been happening. LISTEN ABOVE See omnystudio.com/listener for privacy information.

With the news last week that a lot of people are changing banks as they re-finance their mortgages, we once again ask ourselves whether the problem we think we have is actually a problem. We seem, at least in part in this country, to be caught up in the idea that if you are big and profitable there might be an issue. Banks have taken heat for years, so much so that Governments past, and indeed thi...

Business confidence has hit a ten-year high according to ANZ's latest survey - but are businesses in Wellington feeling as confident as those in other parts of the country?  And what impact are electricity prices having on businesses, and is the market working?  Those were some of the questions for the Wellington Mornings Business Panel this week, with Kaffee Eis owner Karl Tiefenbacher and Mills...

There's growing market interest in humanoids - robots and robotic technology designed to mimic humans. New improvements in technology have opened up room for more developments in the world of robotics, and it's caught the eyes of investors. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Ten years ago, New Zealand had a 'rockstar economy' according to experts. In 2014, New Zealand's GDP growth turned out to be among the strongest across the OECD economies. HSBC chief economist Paul Bloxham unveiled his tips for how the nation can change its tune and bring those figures back. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Air New Zealand's CEO isn't holding back his frustration about the issues plaguing some of its engines. The airline's earnings, underlying profit, and net profit have all more than halved. Air New Zealand is one of several airlines that have seen planes taken out of action due to engine issues. CEO Greg Foran says the newer planes have been plagued by engine issues - creating problems for the airl...

Many people dream of becoming social media influencers - but the reality is a lot less glamorous.  According to new data from the IRD, only 60 people in New Zealand are working full-time as influencers, with the average annual income being $46,000. Thompson Spencer co-founder and CEO Melanie Spencer is surprised by these statistics. "We have influencers earning well over $10,000 per piece of conte...

Air New Zealand's financial results are out tomorrow - and hopes aren't flying particularly high.  The airline has been hit with plane engine troubles, increased competition and decreased consumer demand. Milford Asset Management's Jeremy Hutton outlined some predictions about the airline's financial state. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Elevated interest rates have encouraged mortgage holders to switch banks at a record rate. The value of mortgages refinanced by a new bank climbed to $1.75 billion in July – the largest amount since at least 2017, when the Reserve Bank started publishing this data. NZ Herald Wellington business editor Jenee Tibshraeny unpacks the market factors encouraging homeowners to bank-hop.  LISTEN ABOVE See...

Meridian Energy - the country’s largest power generator - has reported strong earnings in the June year, but warns the year ahead looks challenging. The partially state-owned company’s net profit went from $95 million to $429 million - with much of the increase influenced significantly by net gains on hedge instruments of $249 million. Meridian CEO Neal Barclay says earnings will likely drop in th...

Sources claim dairy giant Fonterra is set to make a big announcement tomorrow. This follows the company predicting a 50 percent increase to the milk forecast price.  The Country's Jamie Mackay speculates about what the upcoming announcement might reveal. LISTEN ABOVE     See omnystudio.com/listener for privacy information.

The Secretary-General of the OECD, Mathias Cormann, has made his first official visit to New Zealand. Trade Minister Todd McClay welcomed him to Wellington today - and trade agreements appear to be on the agenda. Infometrics principal economist Brad Olsen explains the significance of this visit. LISTEN ABOVE See omnystudio.com/listener for privacy information.