Best of Business

New data from has confirmed food prices are up - but not as much as predicted. Stats NZ reports show food prices have increased by 0.6 percent in the 12 months to July. NZ Herald business editor at large Liam Dann says this is good news for the economy following the recent OCR cut. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government has announced a new immigration pathway for essential seasonal workers. It has created a new subcategory of the Specific Purpose Work Visa - to help employers in upcoming seasonal peaks. Roles must pay at least $29.66 per hour, and offer at least 30 hours each week. EMA's Alan McDonald says these changes will be welcomed by the business sector. LISTEN ABOVE See omnystudio.com/listen...

Several Kiwi businesses have expressed relief as the Reserve Bank announces cuts to the OCR. The cash rate has been dropped 25 basis points to 5.25 percent - the first significant cut to the OCR since 2020.  Milford Asset Management's Katlyn Parker unpacks the wider market response. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's shock and excitement across the nation, as the Reserve Bank makes cuts to the OCR for the first time since 2020. The Bank's slashed the cash rate by 25 basis points to 5.25 percent. NZ Herald Wellington business editor Jenee Tibshraeny unpacks what brought this change on - and what caused Governor Adrian Orr to announce this. LISTEN ABOVE See omnystudio.com/listener for privacy information...

The Reserve Bank says several factors are driving down inflation. It's cut the Official Cash Rate to 5.25 percent, saying it's now confident inflation is returning to the one-to-three percent target range. The Government is claiming credit for the turn-around - saying tax cuts and government spending cuts have been reducing inflationary pressure. ZB senior political correspondent Barry Soper says...

ASB is welcoming the news that the Reserve Bank has cut the Official Cash Rate by 25 basis points. This comes after the bank's run of record annual profits ended with a 10 percent fall in its cash profit as borrowing demand slowed down. Chief Executive Vittoria Shortt says today's OCR cut comes at a perfect time. "I think it's a really good thing for New Zealand households and New Zealand business...

It's the start of a significant turnaround for the economy - as the Reserve Bank slashes the OCR for the first time since 2020. It's dropped the cash rate 25-basis points to 5.25 percent. Former Reserve Bank economist, Michael Reddell says Governor Orr's post-announcement claims about the economy don't stack up. "It's not as if some big event has happened externally, it's just that they badly misr...

It's the news many have been hoping for.   The Reserve Bank has cut the Official Cash Rate 25 basis points, from 5.5% to 5.25%.   It says business surveys and economic indicators suggest inflation is returning to within the 1-3% target band.   But the Herald's Liam Dann told Simon Barnett and James Daniels we certainly won't be getting a return to the record-low cash rate we had during the pandemi...

The Reserve Bank is set to issue their latest OCR update tomorrow - and experts are divided about the outcome. Some economists are predicting rate cuts will come now, while others believe the Reserve Bank will hold steady and announce cuts later in the year. Infometrics Principal Economist Brad Olsen says the Reserve Bank needs to lay the groundwork for future rate cuts. "The economy is in a darke...

The Reserve Bank is set to make a call on the Official Cash Rate this week, and experts are feeling hopeful. While economists are divided on the outcome, markets have priced in possible rate cuts going forward. Shane Solly from Harbour Asset Management explains what we can expect. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nearly three-quarters of builders think the industry is in for another tough financial year, according to new data.  650 Kiwi builders were consulted in a new EBoss survey, with 67 percent of respondents reporting less projects and 70 percent claiming industry conditions will only get worse in the coming months. Matt Duder from EBoss says builders operate on tough margins, so steady work is import...

After a turbulent week for financial markets - have things bounced back?  Japan's stocks have rebounded after their crash, but there's mixed results from around the rest of the world. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

ASB has made a surprise call ahead of next week's OCR announcement. The bank is predicting the Reserve Bank will cut rates in the coming days - a sooner timeframe than initially predicted. NZ Herald business editor at large Liam Dann explains whether or not ASB makes a good case. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

There's bad news for a former darling of the footwear world. Kiwi shoe company Allbirds, co-founded by former All White Tim Brown, has posted a net loss of $19 million for the second quarter of 2024. Greg Smith from Devon Funds says the company runs the risk of being de-listed from the Nasdaq. "The valuation of the company was over $4 billion, the year before, they'd made over $200 million in sale...

Australian airline Qantas has slashed former CEO Alan Joyce's exit package, following a stint of costly scandals and legal cases. The $21.4m payout Joyce was due to get after leaving the company last year will be cut by $9.26m, the company told investors. Australian correspondent Murray Olds says this follows a rough business period for the airline. LISTEN ABOVE See omnystudio.com/listener for pri...

Rideshare giant Uber has reported its second quarter result - and shares were up +11 percent. CEO Dara Khosrowshahi says the company is in a position to keep growing, despite an uncertain macroeconomic outlook and decreased consumer spending. Milford Asset Management's Deborah Lambie unpacks these results. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Around 40,000 McDonald’s staff are likely to be compensated, as the fast-food chain corrects a widespread payroll issue dating back 15 years. McDonald’s is contacting those employed between November 1, 2009, and December 6, 2020, asking them to check a portal on its website to see if they’re eligible for reimbursement. The company is one of countless employers, including government departments, th...

There's belief a major Auckland pulp mill proposing closure could be the first of many. Oji Fibre Solutions is consulting with its 75 Penrose staff, citing a three-year pattern of losses. CEO Jon Ryder says dramatically rising energy costs are one of several issues plaguing the mill. E tū Union negotiation specialist Joe Gallagher says the Government needs to step in and set up some regulations. L...

Kiwibank's Chief Economist says unemployment will rise for another year. Stats NZ figures out today show unemployment jumped to 4.6 percent in the June quarter, from 4.4 the quarter before, and 3.6 percent this time last year. Jarrod Kerr says this statistic tends to lag behind the rest of the economy, because employers keep workers as long as they can. "So we think the unemployment rate keeps lif...

Australia's Reserve Bank has taken on a grim tone with today's OCR update - and warned rate cuts aren't on the horizon. The Bank considered hiking rates today, but moved to keep them in place at 4.35 percent. HSBC chief economist Paul Bloxham says inflation is still running too far above expectations. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Three major New Zealand banks have slashed their rates ahead of next week's OCR review. Both Kiwibank and BNZ have urged the Reserve Bank to cut the cash rate down - months ahead of predicted forecasts. Infometrics Principal Economist Brad Olsen explains why there's a case for the Reserve Bank to move quicker. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's another crucial Global Dairy Trade auction taking place tonight as a new season kicks into gear. Rabobank analyst Emma Higgins has predicted WMP and SMP will move lower overnight. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Historic Auckland department store Smith & Caughey’s is living to fight another day. The 144 year old business announced in May it would close next year - but today revealed measures to let it stay open. It will downsize physical trading to the ground floor of its Queen Street store, cut about 100 staff and close the Newmarket branch, and ramp up online operations. Chair Tony Caughey says the...

The Japanese market is clawing its way back, after an epic tumble overnight. Its Nikkei had a historic one-day drop - the first in a volatile chain of global financial markets. It's now starting to stabilise, sitting about nine percent up on yesterday. Matt Goodson from Salt Funds Management says Japan's weakness began a couple of days ago, when the central bank hiked up cash rates. "The Japanese...

One New Zealand based construction company is working on the country's first 3D printed show home. Iconic Construction has broken ground on the project - and the walls have already been made. Director Nick Lane says the company has paired with QOROX to improve on traditional building techniques. LISTEN ABOVE See omnystudio.com/listener for privacy information.