Best of Business

The US dollar and Treasuries are likely to see a knee-jerk bid higher after Joe Biden dropped his re-election bid. Investors will see this development as bringing a fresh level of uncertainty about the final outcome of the US elections. Shane Solly from Harbour Asset Management says this is definitely a spanner in the works. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government is strongly opposing proposed changes to infant formula laws. Minister from Australia and New Zealand will meet this week to discuss a 400-page proposal, which would overhaul baby formula regulation - including labelling laws. Some groups fear it would cause plain-packaging and cripple New Zealand's exports. Finance Minister Nicola Willis says the impacts would be too severe. "There...

It's unclear what the Warehouse Group's next steps will be. Founder Sir Stephen Tindall, who remains a majority shareholder, has shown potential interest in acquiring its shares with Andamantem Capital Partners. The company has confirmed it's received an approach, and is advising investors not to sell shares, pending further advice from directors. Shareholders' Association CEO Oliver Mander says t...

Kiwi businessman Mat Weir's First Table allows Kiwis to get a taste of affordable fine dining. Founded in 2014, the platform connects diners with venues - with an offer of 50 percent off the bill on the first table of the night.  BloggerAtLarge's Megan Singleton takes a look at the dining options available to customers - read more about her experience with the platform here . LISTEN ABOVE See omny...

New Zealand's retail sector is still reeling from shock after Friday's unexpected outage. Businesses all over the world were impacted after a CrowdStrike update shut down transaction services for thousands of stores. Retail NZ CEO Carolyn Young says it's hard to know if something of this scale could have been prevented. "When something cuts down the line so quickly, it's very difficult to manage t...

Many companies are still recovering after Friday's global IT outage impacted retailers, banks - and even airlines. Friday's update by cyber security firm CrowdStrike created technical problems for several major businesses, resulting in the company's value dropping by $20 billion. Tech commentator Paul Spain says many companies will see the risks of putting all their IT in one basket - and attempt...

The AI boom is continuing to hype up investors, as new developments keep occurring. The rise of AI in art, literature, media and even medicine has experts speculating about future developments. Fisher Funds expert Sam Dickie unpacks the phenomenon - and the long-term implications of the technology. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The first liquidators' report on Auckland's SPQR shows it owes creditors $2.24 million. The Ponsonby eatery was placed into liquidation last Thursday by special resolution of the shareholders and is no longer trading. NZ Herald business editor at large Liam Dann says this is a sign of the times, as several iconic Auckland eateries have yet to recover from Covid and the economic downturn.  LISTEN A...

Regional Development Minister Shane Jones is set to begin a 15-stop tour next month to promote the Government's $1.2 billion fund for regional infrastructure. The Regional Infrastructure Fund will be spent over a three-year period and aims to fund projects designed around boosting growth, productivity and resilience. The Country's Jamie Mackay explains further. LISTEN ABOVE See omnystudio.com/list...

SkyCity is apologising for failing to intervene with a repeat player in Auckland. A customer complained to Internal Affairs after gambling went continuously unnoticed on 23 occasions. SkyCity says a system failure meant they went undetected - and it's committed to improving its harm minimisation technology. Chief Operating Officer Callum Mallett says they'll close the casino for five days to work...

Over in the UK, inflation has held steady at 2 percent - prompting calls for interest rate cuts. Prices across all sectors have taken a dive, with hotel stays being the lone exception. UK correspondent Gavin Grey outlines his prediction for when cuts will come. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

ANZ is the latest major bank to bring their interest rate cut predictions forward as the mood towards the economy changes. The bank has forecasted a 25 basis point rate cut from the Reserve Bank by November of this year. ANZ Chief Economist Sharon Zollner says today's dip in inflation shows the tide is turning.  "While it's true that domestic inflation is a smidge higher than the Reserve Bank expe...

Today's CPI data report prompted positive responses from experts - as it signalled a decline in inflation. CPI increased 3.3 percent in the year to June, down from 4 percent annually to March.  Milford Asset Management's Sam Trethewey explained further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Commerce Commission says Auckland Airport’s proposed charge increases to fund infrastructure are 'too high'. In a statement released this morning, the commission said the five year pricing path is not reasonable and the airport was on track for an excess profit of $200m. Air New Zealand Airports Association CEO Billie Moore says the airport will have to undergo an additional consultation proce...

The Finance Minister says the Government has a plan to tackle non-tradeable inflation. CPI increased 3.3 percent in the year to June, a fall from the 4 percent rise in the year to March. Nicola Willis says things like higher rents are sticking around. She says they want to help push that inflation down with more housing supply. "That's what will ultimately push rents lower - and we are conducting...

The Government has confirmed it plans to roll back insulation standards amid concern about cost blowouts for new builds. The current standards, introduced in May 2023, have been estimated to save homes over 40 percent on heating. AUT construction professor John Tookey is sceptical about this idea. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Tomorrow's CPI announcement is set to reveal whether or not New Zealand is making headway with its war on inflation. Stats NZ will publish the Q2 consumers price inflation figures, helping the Reserve Bank determine future OCR decisions. Infometrics Principal Economist Brad Olsen outlines his predictions - and how they'll impact Kiwi households.   LISTEN ABOVE   See omnystudio.com/listener for pri...

Wellington City Council has been found to be in the wrong in a battle involving a cycleway and parking space.   A group of businesses on Thorndon Quay opposed findings of a judicial review over the move to slash car parks near shops.   The court's ruled the council was not compliant with its legal obligations in deciding to cut back the number of carparks.   Thorndon retailer Paul Robinson told Mi...

Rising business costs and cash-strapped consumers have forced a number of Kiwi hospitality businesses to close their doors. Auckland's SPQR recently closed its doors for good, following liquidators being appointed to the establishment. Restaurant Association CEO Marisa Bidois says the last three years have been particularly challenging for the hospitality industry.  "To be frank, we're still in a...

One expert explains how Mastercard's market performance is impacted by the concerns global investors have raised. Recently, investors have been focused on slower economic growth expectations in the US, as well as regulatory risk and the impact this has on new technology like open banking. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE See omnystudio.com/listener for privacy informatio...

Economists say falling food prices are a certain sign inflation's going down - but we may have to wait to get the full picture.  Annual food prices have decreased for the first time in six years - sliding 0.3 percent in the year ending June. Despite this, NZ Herald business editor at large Liam Dann says more data in other industries is needed to confirm if inflation is reducing. LISTEN ABOVE See...

Synlait Milk will live to see another day after winning shareholder approval for a last-minute loan. The shareholders have approved the company taking out a $130 million loan from Bright Dairy, after a nail-biting waiting period. Synlait chairperson George Adams is 'relieved' the vote worked out. "It wasn't close at all, actually. We had 99.6 percent of our shareholders voting in favour. So it was...

Air New Zealand entered the G-string debate and added 41,000 more seats to the Pacific this summer. The move comes after a New Plymouth swimming pool considered banning g-string bikinis following a petition from a concerned mum. Air New Zealand Chief Sales Officer Leanne Geraghty says they saw an opportunity and took it, claiming customers should have freedom of choice when it comes to swimwear. "...

The Reserve Bank's decision to leave the OCR in place was in line with expectations - but their tone caught markets by surprise. The Bank indicated inflation could return to the one-to-three percent threshold by the end of the year, and cuts could be coming sooner than predicted. Milford Asset Management's Katlyn Parker explains further. LISTEN ABOVE  See omnystudio.com/listener for privacy inform...

The light at the end of the tunnel could be in sight for mortgage holders after today's OCR update. The Reserve Bank left rates unchanged at 5.5 percent - but the bank has hinted cuts could be coming sooner than initially predicted.  NZ Herald Wellington business editor Jenee Tibshraeny explains how the Reserve Bank's change in tone could impact borrowers.  LISTEN ABOVE See omnystudio.com/listener...