Best of Business

Foodstuffs is raising the alarm about an increase in retail crime throughout their stores. New data shows over 5000 incidents were reported in the first quarter of this year at 320 New World, Pak n' Save and Four Square stores. Foodstuffs North Island general counsel Julian Benefield says a number of these incidents were caused by repeat offenders. "As we've seen with the data that we're reporting...

The Restaurant Association has voiced disappointment with Auckland Transport's move to charge for parking. AT will delay their 24/7 parking fees in the CBD until October - though charges on Sundays and public holidays will still kick in from July.  CEO Marisa Bidois says Auckland Transport still needs to hear what the business community has to say first. "We're talking 15,000 businesses that are p...

WorkSafe's calling for businesses to boost safety standards as more workers lose fingers on unsafe machinery. The courts have issued more than half a million dollars worth of fines to three manufacturing businesses, since mid-March. They involve three people who lost multiple fingers in 2022. WorkSafe Principal Inspector Mark Donaghue says these companies should have had more safety precautions in...

We've got to talk about the brain drain that’s going on. Today, the NSW Government has announced it is going to come for our Kiwi cops. It's got a shortage of 1500 police, and they're extremely worried about it. So the Chris Minns Government has announced it’s going to slash red tape, cut down the course time required by more than half and fast-track Kiwi cops into their force. And Kiwi cops will...

The Australian Government has opted to ban live sheep exports from 2028 onward, a move that has farmers disappointed. The Government as promised a $107 million transition package to support the sector over the next five years. The Country's Jamie Mackay explains why farmers disapprove of this decision. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Australian treasurer Jim Chalmers is set to deliver the 2024 Budget tonight, and economists are raising their eyebrows at some promises. The reworked stage 3 tax cuts and energy bill relief are expected to be included in a set of nationwide cost-of-living support measures, but Chalmers is insistent they won't fuel inflation. HSBC chief economist Paul Bloxham is sceptical these measures won't add t...

A record number of New Zealanders have left the country, according to new data. Stats NZ says the nation had a net migration loss of over 52,500 citizens in the year ending March. Infometrics Principal Economist Brad Olsen suspects concerning economic figures are driving young Kiwis to find greener pastures overseas, particularly Australia. LISTEN ABOVE  See omnystudio.com/listener for privacy inf...

Over in the US, President Joe Biden is set to announce new 100 percent tariffs for Chinese EVs. This is the latest bid from the Biden administration to keep China from undercutting US companies and impacting manufacturing jobs, as Biden fights for a second term in the US election. Drive Electric Chair Kirstin Corson says China doesn't have plans to send EVs like the BYD-produced seagull to the US...

One New Zealand-based whisky producer has walked away from the San Francisco World Spirits Awards with an impressive haul. Pōkeno Whisky brought home two Double Gold Awards, a Gold and two Silver medals by the end of the event. Founder Matt Johns says this is great for the company's international credibility. "We're just focused on making the best single malt we possibly can with no compromise on...

Four Auckland townhouses are on the market, as The Block NZ joins the local television scrap heap. The Brown's Bay homes were nearly ready for contestants on the house renovation show. But Newshub owner Warner Brothers Discovery has confirmed today it's pulling the next season. Host Mark Richardson says it's a shame to see the end of the show, which has been part of his life for 12 years. "It was...

Tauranga Businesses have released their key priorities for prospective council candidates. The city is having elections in July after being under the control of commissioners since 2020. A Tauranga Business Chamber survey found 82 percent of respondents agreed with the direction the commissioners set. Chief Executive Matt Cowley says that may not be love for the commissioners but a dislike of the...

The export of live sheep from Australia will be banned from May 2028 onwards. The Government has promised a $117 million transition package to support the sector over the next five years. Australian correspondent Oliver Peterson says this will be disappointing news for farmers - who weren't properly consulted before the legislation was implemented.  LISTEN ABOVE See omnystudio.com/listener for pri...

New data shows food prices have show up for the first time in three months - contributing to inflationary pressures. Stats NZ says food prices went up 0.6 percent on March, to be 0.8 percent higher than 2023 figures. Rent and petrol, two other key components, went up by 4.6 percent and 2 percent, respectively. ASB economist Kim Mundy says it's likely consumers will have to tighten their belts for...

After making waves in the beauty industry, Ethique founder Brianne West has set her sights on beverages. Her newest venture, Incrediballs, offers consumers flavoured tablets that turns water into flavoured drinks - cutting down on plastic pollution. She says the number of single-use bottles wasted every year is a 'disgrace', and wanted to develop a solution. "In New Zealand we throw away just over...

The US and Europe have posted several quarterly results - and this season has been labelled 'spicy' and volatile by experts. Sam Dickie from Fisher Funds unpacks all the highs and lows found within the results. LISTEN ABOVE See omnystudio.com/listener for privacy information.

AgriZeroNZ, the joint venture fast-tracking emissions reduction tools for Kiwi farmers, has put up millions of dollars in the race for a 'methane vaccine'. The company has invested $9.9 million in U.S. ag-biotech start-up, ArkeaBio, to accelerate a treatment for ruminant animals. The Country's Jamie Mackay examines the impact of these treatments. LISTEN ABOVE See omnystudio.com/listener for privac...

It's looking increasingly likely that cash is getting phased out. More and more banks have removed their ATMs, and Australia's Macquarie Bank made headlines over its decision to scrap physical money altogether. NZ Herald business editor at large Liam Dann examines the future of physical cash. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The nation is grappling with worsening power and gas shortages - in line with one expert's warning. In September 2023, Enerlytica director John Kidd warned of power shortage risks following the loss of a key gas-fired power plant. Kidd says these issues have been coming for a while. "It is one of those things where you need capacity to cover exactly these types of periods. And over the last few ye...

Thousands of people have been caught up in Woolworths whoopsie. The supermarket wrote to winners of a promotion, awarding them 4000 reward points - which equals $30 worth of groceries. But it sent about 80,000 emails, instead of 1000. It's apologised and offered 500 points compensation to those wrongly emailed. Auckland University marketing professor Mike Lee says it's understandable if people are...

Questions are being raised about the future of the Port of Tauranga. This comes off the back of Auckland mayor Wayne Brown confirming the Port of Auckland's land, assets, and operations will be kept in council ownership. Milford Asset Management's Jeremy Hutton explores a few potential outcomes. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

One expert has noticed New Zealand's biggest banks don't seem to be rushing to get more information about the insurability of the properties they lend against. The Reserve Bank wants banks to keep a closer eye on the long-term insurability of properties they lend against, amid concerns about natural risks. Jenee Tibshraeny explains the moves the banks could take to address these issues. LISTEN ABO...

New research indicates manual cars will be phased out within the next five years. The number of new manual cars being manufactured has halved within the last six years - and companies like Volvo, Lexus, Jaguar have stopped producing showroom models of manual cars. AA's Roger Venn says it's likely we'll only be importing battery-powered electric vehicles, according to new regulations. "They don't c...

Meat exporters are celebrating news the Government's negotiating a free trade agreement with the United Arab Emirates. Trade Minister Todd McClay says he hopes to get a deal over the line as soon as possible. Infometrics Principal Economist Brad Olsen says it's good that we're striking when the iron's hot when it comes to demand from that part of the world. LISTEN ABOVE See omnystudio.com/listener...

The small town of Reefton, located in the West Coast, is sitting on a supply of a valuable mineral. An Australian mining company believes Reefton could have 5 percent of the world's supply of antimony. Siren Gold CEO Victor Rajasooriar says it's likely they'll find at least 50,000 to 100,000 tonnes of antimony if they keep drilling. "We're quite confident with the initial drilling that we've done....

The country's largest bank has increased its cash profit, despite falling interest margins. ANZ New Zealand's cash profit rose to $1.15 billion dollars in the six months to March. That's stable on the previous six months, and up four percent on the same period the previous year. Chief Executive Antonia Watson says the bank has taken on less provision for 'doubtful' debts this half. "Revenue is und...