Best of Business

Seven rising female-led New Zealand businesses are set to receive funding, resources and mentorship from Coralus. Coralus, formerly known as SheEO, has announced its 2023 Ventures today- expanding their outreach by two more businesses than in previous years. Among this selection is Kiwi Launch Pad, an employer-funded digital platform for new migrants designed to help them successfully settle in Ao...

A promising challenger to the supermarket duopoly has dropped out of the race. Online grocer Supie has entered voluntary administration- owing an estimated $3 million. Analyst Nick Hogendijk says the start-up battled from day one. "The big pressure point will be the significant amount of investment in resources she was going to need to have from day one- it was always going to be difficult against...

All eyes were on Fletcher Building and how shareholders would react at their AGM. Among the issues it’s dealt with recently include the Iplex pipes, directors’ fees and the poor annual results. Business commentator Rod Oram joined Jack Tame. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwi scientists have developed ground-breaking new technology that will allow farmers to measure methane emissions from cattle. Crown institute AgResearch has developed a portable chamber to test individual cows- helping farmers to selectively breed cattle and reduce emissions over time. The Country's Jamie Mackay says this technology is the latest scientific development that will cull emissions a...

Innovation is a key driver of global economic growth- and it's moving faster than ever. Science, research, and technology have driven economic growth over the years, ever since the industrial revolution. Sam Dickie from Fisher Funds says society has gotten better at adapting to new developments, comparing the fast adoption of AI and weight-loss drugs to the slower reception of earlier technology....

Inflation may be coming down- but three big influences have accelerated living costs for Kiwi households.  The cost of living has gone up by 7.4 percent in a year, with groceries, insurance and interest payments driving up these increases. NZ Herald business editor at large Liam Dann says these increases will keep inflation up for longer in a temporary worst-of-both-worlds scenario. LISTEN ABOVE S...

A council plan to set up more paid parking at one of New Zealand's hottest summer spots has been met with community backlash. Mount Maunganui was set to introduce more paid parking meters this summer season- but that plan has been delayed after residents and business owners voiced opposition. Tauranga Business Chamber CEO Matt Cowley says paid parking has been regarded as an unpopular decision by...

Newly released provisional estimates from Stats NZ show the country has experience rapid population growth after two years of shrinkage. Auckland's population expanded the fastest in the year to June, with the region gaining 47,000 more people. Otago, Waikato, and the Bay of Plenty also grew faster than the New Zealand average. Infometrics principal economist Brad Olsen says Auckland's economy sta...

Big tech companies are posting strong sales results this quarter- with AI aiding this economic turnaround. ChatGPT kicked off the recent AI wave, with chip company Nvidia spurring this growth. Microsoft and Google have seen sales up by 11 percent to 12 percent, with their new AI features and tools generating interest. Milford Asset Management Portfolio Manager Felix Fok explains what this technolo...

New Zealand's largest bank, ANZ, has lifted their mortgage and deposit rates by as much as 30 basis points. As of today, the bank's six-month mortgage rates will increase by 26 points, its four and five-year rates will rise by 25 points, and its three-year rates by 20 points. ANZ has also hiked their one-year, 18-month, and two-year rates by between 10 and 14 points. NZ Herald Wellington business...

One prospective Cabinet minister appears to have learned from his predecessor's mistakes. Senior National MP Chris Bishop has sold his shares in Kiwi Income Property and plans to sell off his further shares in Paysauce Ltd, Telstra and Parrotdog. Former National MP Steven Joyce disagrees that ministers should have to sell their shares once they get into office. "You keep lifting the bar higher and...

New data indicates the milk price cycle may be picking up after an earlier downturn. The latest lift on October 17 saw prices move 4.3 percent, with milk powder up 4.2 percent and the overall average price reaching $3202 USD. Fonterra has lifted their forecast by 50 cents and ASB and Westpac have since followed suit and increased their forecasts $7.35/kg MS and $7.25/kg MS respectively.  The Count...

Two warnings from international credit ratings agencies have sparked concern amongst economists. Standard and Poor expressed concern with National's proposed Three Waters policy, as it could negatively impact the debt ceilings for local councils. Fitch Ratings predicted that the new National-led Government couldn't live up to their promise of producing a budget surplus in 2027. BusinessDesk managi...

The outgoing head of New Zealand's Insurance Council has advised Kiwis to stop building in 'dumb' places. Tim Grafton has spent 11 years in the role and overseen the pressure earthquakes, cyclones, floods and climate change are placing on infrastructure. He says building houses in risky locations will put people in harm's way and make it harder for insurance to be readily available. "All of those...

American Express have recorded a strong quarter on the back of increased retail spending, and Germany has seen a record drop in inflation. Devon Funds' Greg Smith talked to Tim Dower about the latest money news from around the world.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

International airfares are again set to rise next year. Capacity and engineering issues are believed to be the problem. Hawaiian Airlines recently scaled back it's New Zealand route, leaving Air New Zealand the key player in that market. Aviation commentator Irene King spoke to Tim Dower about why this is happening.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

International airfares are again set to rise next year. Capacity and engineering issues are believed to be the problem. Hawaiian Airlines recently scaled back it's New Zealand route, leaving Air New Zealand the key player in that market. Aviation commentator Irene King spoke to Tim Dower about why this is happening.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fletcher has its AGM next Friday, but it’s expecting a tough time from the shareholders. It’s expected the Iplex pipes drama will be a hot topic, as well as its persistently poor performance, and a number of shareholders being told to vote against directors’ remuneration. Business commentator Rod Oram joined Jason Pine. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Exporters and importers are calling on Ports of Auckland to lift its efficiency and productivity by at least as much as they’re hiking their user prices. The number of containers moved on and off ships has dropped by 42 percent in the past four years. But at the same time, the Ports put up its prices, including a general increase of 7 percent from next year. New Zealand Council of Cargo Owners cha...

The US has surprised economists by reporting more rapid economic growth. The net worth of the typical US household grew at the fastest pace in more than three decades from 2020 through 2022, and interest rates have stayed low. Fisher Funds expert Sam Dickie explains why the US economy has managed to stay so resilient. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Speculation hints that the post-pandemic imbalances in the economy could be working themselves out. Since mid-September, the economic numbers have started to beat the expectations of economists and markets. NZ Herald business editor at large Liam Dann says inflation is still running rampant- but unless something bad happens, the economy is moving in a positive direction. LISTEN ABOVE See omnystudi...

A Wellington City Councillor is defending his comments on a commercially-sensitive Council deal. The Post reports Council is looking to buy the site where Reading Cinema stands, for $32 million dollars. The boarded up Courtenay Place complex has been closed for years. Councillor Ray Chung is one of five people under a code of conduct investigation, around alleged breaches of confidentiality. He's...

New Zealanders will get extra insight into the cost of living, as Stats NZ promises to release more up-to-date inflation data. Stats NZ will now publish monthly price changes for alcohol, fuel, tobacco, air and travel costs, in addition to regular data for food and rent prices. The CPI data will continue to be published every three months. Infometrics Principal Economist Brad Olsen says this will...

2023 is a big year for organised labour action. Hundreds of thousands of Americans have walked off their jobs at a rate not seen in decades, with new data claiming over 18 million days have been lost to strikes so far this year. Back on New Zealand shores, 850,000 workdays have been lost to strikes between January and May, according to MBIE reports. Milford Asset Management's Deborah Lambie says u...

Insurance premiums are going through the roof, and Kiwis are feeling the pinch. All types of insurance costs rose by 9.6 per cent between the September 2022 and 2023 quarters, according to new data. Dwelling insurance costs led the jump, rising 21.2 percent, and contents and car insurance premiums went up by 18.8 and 10.2 percent, respectively. NZ Herald Wellington business editor Jenee Tibshraeny...