Best of Business

Oceans and Fisheries Minister Shane Jones has agreed New Zealand's dairy sector is 'capped out' - and investing in aquaculture is the way to go. In an interview with Newsroom, Jones claimed the aquaculture sector faced fewer barriers and offered more opportunities than other primary industries- including wool, dairy and meat. Mark Hopper from Federated Farmers says there's opportunity in aquacultu...

There's some potential light at the end of the tunnel for mortgage holders after today's Reserve Bank update. The OCR's been held in place at 5.5 percent - the eighth pause in a row. However, the Bank's tone has softened, with experts predicting inflation will make the one-to-three percent target by the end of this year. Kiwibank Chief Economist Jarrod Kerr says his bank's sticking to its November...

The future of South Island dairy company Synlait Milk is up in the air ahead of a crucial vote to ensure its survival. A special shareholders meeting will be held on Thursday to approve a $130 million loan from its biggest shareholder, China's Bright Dairy. The Country's Jamie Mackay speculates which direction the voters will go. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank is set to release their latest update regarding the OCR tomorrow afternoon. New Zealand's Official Cash Rate has been held at 5.5 percent for over a year, and economists don't expect that to change. Infometrics chief economist Gareth Kiernan outlined his predictions - and speculated when the Reserve Bank might introduce cuts. LISTEN ABOVE  See omnystudio.com/listener for privacy i...

Award-winning finance app Dosh has launched a bid to become New Zealand's first locally-owned digital-only bank. The company has initiated an application to become a registered bank in New Zealand, with the goal of reducing costs for customers by cutting out physical branches. Dosh co-founder Shane Marsh says more and more users have switched over to using digital-only banking. LISTEN ABOVE See om...

There's speculation that Labour is examining the possible benefits of an inheritance tax ahead of its next party conference. The party has reportedly taken inspiration from Ireland, where people are required to pay a 33 percent tax on gifts or inheritances worth more than €335,000 ($558,00 NZD). Independent tax expert Geof Nightingale says there's good arguments for the tax - but it's not without...

Synlait Milk's future is hanging in the balance ahead of an upcoming vote impacting the company. On Thursday, a shareholders meeting will take place to determine if a $130 million dollar loan from China's Bright Dairy will be approved. Synlait chair George Adams unpacks the significance of the upcoming vote. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank is set to deliver its next Monetary Policy Statement regarding the OCR on Wednesday. It's expected the Bank will keep rates on hold for longer, but economists are divided on when the anticipated cuts will come. Harbour Asset Management's Shane Solly says markets are pricing in cuts, which could come between November to next February.  LISTEN ABOVE See omnystudio.com/listener for p...

There's growing calls for power companies to go easier on customers who can't pay their bills. Each year, around 40,000 New Zealanders are disconnected from the power supply for non-payment, according to new data. Consumer NZ's Paul Fuge says people genuinely struggling shouldn't have to ration an essential service. "There needs to be more protections around disconnections and more time for interv...

As the hospitality sector struggles and consumers feel the pinch from rising living costs, one entrepreneur has devised a solution. Food waste is still a lingering issue, so Foodprint founder Michal Garvey launched Mystery Bags to help business and consumers get through a gloomy winter period. Garvey says the viral nature of mystery packages would allow consumers to eat out sustainably - and have...

Experts fear that the Government's plan to 'flood' the housing market comes with too many risks. Housing Minister Chris Bishop has promised to fill urban areas with development land and remove council powers to mandate boundaries and standards. UOA senior lecturer of Architecture and Planning, Dr Elizabeth Aitken Rose, says freeing up land won't fix the issues in the housing market. "We've know fo...

Equity markets around the world are experiencing lifetime highs - but one expert has warned of the possible risks involved. The US, Japan, Europe and Australia are all thriving, amid a collective battle with inflation. Sam Dickie from Fisher Funds explains the situation further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The golden era of   trade is over and New Zealand needs to push hard to diversify its trading partners, according to a warning from the Deputy Secretary of Trade.  During the Primary Industries Conference, Vangelis Vitalis said primary industry exports went through a boom between 1995 and 2017 but since then, things have become much harder. The Country's Jamie Mackay unpack the issue further. LIST...

A property expert says housing changes announced today will increase supply - with a massive infrastructure bill attached. Housing Minister Chris Bishop says they'll let cities expand by stopping councils setting fixed rural-urban boundaries and requiring them to plan for growth 30 years ahead. Apartment floor area minimums and balcony requirements are being abolished. Property developer and inves...

Finance Minister Nicola Willis isn’t receptive to calls for the establishment of an independent unit to check Treasury’s forecasts and ensure Government spending is sustainable. The International Budget Partnership and Organisation for Economic Co-operation and Development (OECD) are among the organisations that believe New Zealand needs an institution that both costs policies and keeps tabs on th...

There's increased efforts to position New Zealand on the world stage and make connections with the US. Prime Minister Chris Luxon is jetting off to the NATO summit and meeting with officials in Washington next week. He says he looks forward to forging stronger links with businesses and investors to help rebuild our economy. Former US Ambassador Tim Groser says the timing couldn't be more tense or...

House prices need to fall at least another 16 percent to become anything like affordable, one forecaster says. According to the Real Estate Institute, prices remain 15.9 percent below their 2021 peak - but Housing Minister Chris Bishop has indicated they need to drop down more. Infometrics Principal Economist Brad Olsen explains further. LISTEN ABOVE See omnystudio.com/listener for privacy informa...

One expert says Paul Goldsmith's proposed new media bill could jump-start conversations about the future of news content in New Zealand. The Broadcasting Minister plans to implement an amended version of Labour's Fair Digital News Bargaining Bill, forcing tech giants to pay for news content. News Publishers' Association Public Affairs Director Andrew Holden says it's worth discussing potential opt...

Fletcher Building's shares have bounced back up after the business completed and handed over part of their NZ International Convention Centre project. The project is back in SkyCity's hands - with the project on track to reopen by the end of the year. Harbour Asset Management spokesperson Shane Solly explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Finance Minister is determined to grow the economy and ease the cost of living for struggling Kiwis as the Government outlines its next points of focus.  The Government today unveiled its third quarterly priorities - focusing on law and order, the economy, public services and infrastructure. Minister Nicola Willis says it's important for the Government to focus on making sustainable financial...

Former Air New Zealand CEO Rob Fyfe is set to launch his biggest - and most sustainable - business venture yet. Recorp, an aluminium canning company, is set to launch in September, with former House of Travel head Bruce Parton being appointed the inaugural CEO. Fyfe says many Kiwi companies are phasing out plastic, meaning there's room to enter a new market. LISTEN ABOVE See omnystudio.com/listene...

Kāinga Ora's Chief Executive Andrew McKenzie will be stepping down at the end of October, with a $365,000 payout. A review has found the state housing provider needs significant savings to be financially viable. Kainga Ora Chair Simon Moutter says it's the right time. "Given the extent of change going on in this organisation with the changes through the Government's budget allocations to KO and th...

There's high hopes from Santana Minerals following the revelation of unearthed gold in Central Otago. The company's discovery on the privately owned Bendigo Station land has been dubbed one of New Zealand's most significant in 40 years - with a $4.4 billion dollar lifetime export value. Santana Minerals Chief Executive Damian Spring is hopeful an investment decision will be made by the new year. "...

Denmark is moving ahead on plans to introduce a carbon tax on agriculture, with cattle farmers facing additional charges as a result. The bill suggests that farmers would be taxed at 300 DKK ($70) per ton of CO2 equivalent emitted from 2030, moving to 750 DKK ($177) by 2035. The Country's Jamie Mackay says the farmers will be unlikely to take this lying down - and they love a good protest. LISTEN...

International research group BMI has lowered its GDP growth forecast for New Zealand for 2024 - and warned of economic challenges to come. BMI predicted the nation's GDP would grow by just 1 percent this year, down 0.2 percent from previous estimates. NZ Herald business editor at large Liam Dann unpacked this research further. LISTEN ABOVE See omnystudio.com/listener for privacy information.