The SME Stream

The Reserve Bank is widely expected to cut the OCR tomorrow, according to new reports. The OCR is currently sitting at 3.25 percent and the major banks have already been dropping their mortgage interest rates in anticipation. HSBC chief economist Paul Bloxham outlined his predictions. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professio...

Former economist and investment manager Gareth Morgan was caught off-guard by an AI deepfake using his voice and likeness, and he's warned people to be careful. The investment scam made the rounds on Facebook and Instagram and encouraged Kiwis to invest in a vaguely-defined US-based scheme. Gareth Morgan says his daughter showed him the scam - and it almost had him fooled.  "The only giveaway...

There are tentative signs of recovery, as a troubled construction sector looks to turn the corner.  A new report shows the sector generated $94 billion in revenue in the year to March, down slightly from $99 billion the year prior.  Despite this, the report shows residential consents have levelled off, government infrastructure projects are restarting, and falling interest rates are supp...

Financial results are coming in thick and fast.  a2 Milk is reporting a 21% rise in profit alongside announcing it has bought the Yashili  plant in Pokeno.  It's also sold its majority stake in the Mataura Valley plant in Gore to Open Country Dairy.  Contact Energy's profit is up 13% after a surge in geothermal generation.  Freightways' profit is up 12.9%.  Chief exec...

Financial results are coming in thick and fast. a2 Milk is reporting a 21 percent rise in profit - alongside announcing it bought the Yashili plant in Pokeno. It's also sold its majority stake in the Mataura Valley plant in Gore - to Open Country Dairy. Contact Energy's profit is up 13-percent, after a surge in geothermal generation, and Freightways' profit is up 12.9 percent. Harbour Asset Manage...

Tax deductions can be confusing, especially when you’re trying to figure out what you can and can’t claim if you're running a business or are self-employed. So, what’s a legit deduction and what’s not? How do you make the most of what you can claim without crossing the line? And what happens if the IRD think you've crossed that line? Catriona Knapp, director at Future Focus...

New Zealand could secure a place in the global AI economy with a sustainable data centre Research by the Maxim Institute has looked at leveraging the country's renewable energy, cool climate, and strong privacy laws to become a hub in the Asia–Pacific.  Researcher Thomas Scrimgeour says high energy costs must be tackled in order to seize the opportunity.  He told Mike Hosking AI se...

We are well on our way to a collective one trillion dollars in debt. In the year to the end of May, New Zealand hit just over 870-billion in gross debt - up 5.4 percent from almost 830-billion last year. It represents an average of just over 160-thousand dollars in raw debt for every person in the country. At the current rate of growth, New Zealand will hit the trillion dollar landmark,  insi...

 [VIDEO EPISODE ON YOUTUBE & SPOTIFY]  Power generator Mercury is investing $550 million into three of its historic hydro stations, aged between 64 to 75 years old. Come on a tour of one of the oldest energy assets with me and the CEO! The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcast...

New Zealand exporters are remaining upbeat.  The latest Export New Zealand DHL Export Barometer shows about four in five have maintained or increased export volumes over the past year.  Exporters say it's been getting cheaper to do business, but they're getting more worried about trade wars.  NZ International Business Forum Executive Director Felicity Roxburgh told Mike Hosking the...

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina Shrimpton each week as she gives you a rundown of the biggest stories that could impact on your business, so you can make informed decisions with expert advice.   This week, We’re quite literally running out of gas, so what’s the solution? Banks have already started slash...

As US tech companies double down on artificial intelligence, pouring billions into new data centres and offering eye-watering compensation packages to secure the best talent, a different path is emerging for New Zealand. Catalyst Cloud co-founder Don Christie returned to The Business of Tech podcast this week to lay out his vision for sovereign AI, one where open source models and local infrastruc...

US inflation held steady in July, with consumer prices rising 2.7 percent - depite the ongoing concerns around import tariffs. Figures are better than economists feared, but underlying pressures make the Federal Reserve's next move unclear. Milford Asset Management's Michael Luke explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial&nbs...

Chef, TV host and farmer Mike Van de Elzen has worked in some of the toughest kitchens in the world, from London’s high-pressure restaurant scene to running his own award-winning eateries in Aotearoa. He joins Liam Dann to talk about growing up on a Henderson poultry farm, funding his first motorbike with chicken manure sales, surviving on scraps in London and why the term “celebrity c...

The Reserve Bank is moving to cut 20 percent of its staff in a bid to unwind the hiring spree by former Governor Adrian Orr. The restructure will see the net reduction on 142 roles, including 35 vacant positions. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or profession...

Major gas users are looking to the Government for help, with many struggling with high prices.  A survey by energy management company Optima and Business NZ reveals gas prices have risen by more than 100% on average in the past five years.  Nearly half of industrial and commercial users have had to make cuts as a result.  Resources Minister Shane Jones is seeking advice whether rati...

Resources Minister Shane Jones is investigating whether to ration gas to keep some businesses going. Fertiliser co-operative Ballance last week revealed it's considering a four-month temporary closure after it failed to renew its long-term gas deal. It was outbid by Contact Energy, which is supplying homes. Jones says he'll be focusing on what's doable, to help solve the shortage. "We're not makin...

Spark New Zealand is selling 75 percent of its data centre business for about half a billion dollars. Australian-owned Pacific Equity Partners is taking the controlling share of the $705-million-dollar business. Spark will move its data centre assets and operations into a new stand-alone company. Devon Funds Head of Retail Greg Smith explains what this could mean for the business. LISTEN ABOVE The...

A growing number of businesses are reporting losses and economists have voiced concerns. IRD data shows that in the 2023 tax year, 107,360 companies out of 475,010 reported a current loss. Another 40,670 were carrying a loss over from a previous tax year. Infometrics Chief Forecaster Gareth Kiernan says these figures are consistent with the current deterioration of the economy. LISTEN ABOVE The po...

There's a view businesses have been taken by surprise by surging gas prices.  Energy management company Optima and Business NZ's joint survey reveals gas prices have risen by more than 100% on average in the past five years.  Nearly half report it's led to them reducing operations, increased prices, or cutting staff.  Business NZ Energy Council Executive Director Tina Schirr told Mi...

The next US Consumer Price Inflation report will be out this week, and economists are speculating about what this could mean going forward. Markets are keeping an eye on things, as inflation continues to be an issue in the US. Harbour Asset Management's Shane Solly explains further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professiona...

Most New Zealanders consider themselves only “average” with money.  In fact, a new study from Partners Life finds less than a quarter of New Zealanders rate their financial knowledge as "excellent". Nearly 60 percent find it tough to pay monthly expenses, and just over half reported stress or losing sleep due to money concerns.  At the same time, many are reportedly using cre...

Amid the soaring cost of everything from butter and cheese to rates and insurance, tips on how to trim your budget abound. But once that budget's cut to the quick, the only alternative is to earn more. While the need for side hustles can be controversial, Tracy Hemingway – who used them to escape $94,000 of debt and buy her first home in just four years – says they can serve a purpose...

Anduril has a plan to protect Western waters, involving extra-large autonomous submarines and torpedoes. Go inside the US$30.5b defense hardware company’s headquarters in California to meet the Australian engineer leading its expanding underwater division. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed i...

Two new seasonal visas have been unveiled, allowing the likes of rural contractors or chairlift operators to return for up to three years or stay for up to seven months. It follows the unemployment rate reaching a five-year high of 5.2-percent.  Malcolm Pacific Immigration Director David Cooper told Mike Hosking it's hard to get New Zealanders into domestic seasonal work. LISTEN ABOVE The pod...