Best of Business

Prime Minister Luxon will travel to Singapore, Thailand, and the Philippines from April 14 - 20. This trip is expected to signal the Government's commitment to deepen New Zealand’s international engagement, particularly in South East Asia. NZME business commentator Fran O'Sullivan explains what New Zealand can offer these potential international partners. LISTEN ABOVE See omnystudio.com/listener f...

There's a good chance consumers might be wasting their money if they pay for high-speed internet without the right equipment.  The Commerce Commission's RealSpeed report revealed that broadband speed depends significantly on the strength of the router and devices as well. Commerce Commission spokesperson Ben Oakley says they're urging consumers to think about the quality and placement of their rou...

Covid-19, worker shortages, the growth in working from home and now public service cuts: Wellington's economy has had a tough few years, and it's still struggling, Wellington businessman and vice president of Hospitality NZ Paul Retimanu says.  He joined Wellington Chamber of Commerce chief executive Simon Arcus and Wellington Mornings host Nick Mills to talk business, including a proposal for a n...

More public sector roles face the chopping block, following recent announcements. The Ministry of Health is the latest to propose slashing jobs in order to meet the Government's cost-cutting targets- of an average of 6.5 percent. Former United Future leader Peter Dunne says there needs to be a purpose for restructuring the sector beyond cutting jobs. "It's pretty easy to say- let's just cut number...

Kate Hawkesby and Tim Wilson have once again joined Mike Hosking to wrap the week. On this docket today is ACC, sleep methods, and the new business venture Glenn and Mike are thinking of buying into. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The first quarter of 2024 is in the books for global investors- what can that tell them going forward? Asset prices were strong all over the world, house prices have risen and oil and gold are enjoying an extra boost. Sam Dickie from Fisher Funds explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Economists and farming experts believe there are economic benefits to selling off Pāmu. The state-owned farming company runs runs 110 farms around the country- with a mix of dairy, sheep, beef, deer and forestry. The Country's Jamie Mackay unpacks the benefits of selling this land off to boost Government finances. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

New Zealand faces a $1 trillion bill over the next three decades to improve infrastructure, ASB warns. This involves bringing existing infrastructure up to scratch and future-proofing it to meet new challenges -  including climate change. NZ Herald business editor at large Liam Dann explains the likelihood of covering these costs. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The Government is changing the Building Act to address a shortage of supplies and long wait times for new products to be approved. This will include green-lighting products with a reputable overseas certification and recognising approval schemes used in countries like Australia. NZ Construction Industry Council chair Malcolm Fleming is pleased the Government is working to address this problem. "In...

The owner of one of Auckland's most prominent waterfront bars has described the moment armed police stormed in to arrest a pair accused of violently kidnapping a woman on Auckland's North Shore. Police descended on Headquarters Bar on Auckland's Viaduct to apprehend and handcuff the man and woman, who had just ordered drinks. Leo Molloy suspects the police were given intel- as it was a very quick...

More bad news for Synlait Milk following their recent half-year net loss. The company's shares are down almost 70 percent in the last year. Milford Asset Management's Jeremy Hutton explains how the company can reduce debt and improve their condition. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The country's biggest banks are pushing back against measures to share their data and increase competition through open banking. The Commerce Commission wants financial technology firms to link up with the banks- and have urged the Government to crack the whip. NZ Herald Wellington business editor Jenee Tibshraeny says this issue has been going on in the background for several years. LISTEN ABOVE...

Auckland's city centre has outpaced New Zealand in both GDP and employment growth for the second year in a row.  According to an Infometrics report, GDP in the city centre grew by 9.2 percent in the year to March 2023, reaching $30.4 billion. Employment was up 7.3 percent in the same period, compared to the equivalent increase of 2.5 percent for the rest of New Zealand. Patrick Reynolds, the Counc...

According to new research, there's a significant gap between the KiwiSaver contributions of men and women. Te Ara Ahunga Ora The Retirement Commission has released a report revealing that women contribute 36 percent less on average yearly than men. Commission policy lead Dr Michelle Reyers says women are more likely to stop working to fulfil care-based responsibilities- or work in part-time roles....

It's a challenging time for cash-strapped dairy giant Synlait. The company is reporting a $96.2 million loss for the six months to January, compared to a $4.8 million profit in the previous corresponding period. It's won an extension on a $130 million debt repayment and is reviewing North Island assets, including the extensive Pōkeno facilities. The Country's Jamie Mackay explains further. LISTEN...

The price of gold has soared to an all-time high- and some Kiwi companies are hoping to take advantage. Gold is currently trading at $2269 USD ($3817 NZD) an ounce. BusinessDesk managing editor Pattrick Smellie explains how companies like Santana can get ahead. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A pair of millionaire philanthropists are urging the Prime Minister to honour a commitment and chase businesses up for Covid wage subsidy money. Grant and Marilyn Nelson suspect companies have wrongly held on to millions of dollars- and hope the Government can encourage these companies to pay that money back. Grant Nelson says businesses should be treated like beneficiaries and be made to pay back...

The Workplace Relations Minister says Easter trading laws are outdated. Two Wānaka New World supermarkets are likely to be fined after remaining open on Good Friday and Easter Sunday, in a potential breach of the weekend's trading laws. A Foodstuffs spokesperson says it was done to make sure people have convenient access to groceries throughout the break. Brooke van Velden says while people should...

Big changes for the Reserve Bank, as it appoints new members to its Monetary Policy Committee. University of Auckland macroeconomics professor Prasanna Gai and former Electricity Authority chief executive Carl Hansen will take up their posts later in the year. Westpac chief economist Kelly Eckhold explains what these new changes could mean for the future of the OCR. LISTEN ABOVE See omnystudio.com...

There's hope a $100 million industrial complex under construction in Auckland will create a new standard for sustainable goods distribution. Argosy Property's 3.5 hectare development on Neilson Street in Onehunga is expected to be completed late next year. It will have large rainwater tanks, will accommodate EV truck charging and will have solar panels for electrified vehicles, industrial processe...

Every year, Easter pops up with the ubiquitous confusion around which shops are open and when over the Easter period. There are two reasons for this- one being so many regard shopping as a fun way to spend time and secondly, because every region has a variety of bylaws. Most have a fantastic understanding of their local shops trading hours. But for those away on holiday around the country, the Eas...

Demand for electric vehicles has ground to a halt in recent months. Growth rates are down in the United States, Europe, and China, according to new data. Sam Dickie from Fisher Funds says these decreased stats don't inspire confidence in buyers. LISTEN ABOVE See omnystudio.com/listener for privacy information.

DairyNZ's Econ Tracker predicts an increase in profitability for farmers- but warns interest costs could bite. Their latest data shows he national breakeven forecast currently sits at $7.75 kg/MS. The Country's Jamie Mackay recaps the report. LISTEN ABOVE See omnystudio.com/listener for privacy information.

After a more hopeful period, business confidence and consumer confidence has slumped again. New data for March indicates businesses and consumers are back to feeling negative about the state of the economy. NZ Herald business editor at large Liam Dann says the 'recession' headline comes with a lot of power to sway markets. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A 'slow grind' lies ahead for households over the next few months, but the end is within sight for the tough fight with inflation. ASB's latest Quarterly Economic Forecast says things will get better after a slow 3 to 6 months for the economy- and rates and living costs will come down again. Infometrics principal economist Brad Olsen says recent data shows people can see the light at the end of th...