Best of Business

The Far North District is a hot-spot for Kiwis looking to get away over the holidays. However, due to the impacts of cyclones, storms and COVID - the area's businesses are still struggling. Far North District Mayor Moko Tepania told Andrew Dickens that tourism this summer is key to boosting Northland's struggling businesses. 'We need you all to come up here and spend your money because our businesses bloody need it.' LISTEN ABOVESee omnystudio.com/listener for privacy information.

Often trust have been seen to be province of the uber wealthy. But are they? And often people don't think about this issue until it is too late So when should we think about these issues - our family. inheritances and what's gonna happen to our money when we aren't around to look after it? Managing Director for New Zealand Family Trust Services Limited Janet Xuccoa joins Tim Beveridge to give her advice on trust accounts, and how they should be used. LISTEN ABOVESee omnystudio.com/listener for privacy information.

In November China's economy showed clear signs of strain as investment, consumption, and industrial output all weakened more than anticipated. "I think the most worrying thing is fixed asset investment actually, which has now declined for the 3rd month in a row," Asia business correspondent Peter Lewis told Andrew Dickens "We've never seen that before." LISTEN ABOVESee omnystudio.com/listener for privacy information.

2025 has been a memorable year for global equity markets, and it's prompted speculation from investors. Between economic downturns and tariffs, there's been plenty for experts to voice concerns about. Fisher Funds expert Sam Dickie explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Dairy farmer and agribusiness leader Nathan Guy is New Zealand's new special agricultural trade envoy. Todd McClay, Minister for Trade and Investment and Minister of Agriculture, announced Guy's appointment today. The Country's Jamie Mackay explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's back on the road to financial recovery, according to new reports. The latest Stats NZ data shows the economy contracted 0.5 percent in the year to September. But it's grown 1.1 percent - faster than expected - in the last quarter. Infometrics Principal Economist Brad Olsen says we're effectively returning to where we once were. "Momentum is starting to build, but it's building from a weak spot. So we're certainly not saying that the economy is completely back, but it is on a better track." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's economy grew more than expected between July and September. But between April and June, it shrank more than previously thought. GDP rose 1.1% in the September quarter, surpassing all expectation but Stats NZ has revised the numbers for the June quarter, finding GDP actually fell 1%, not the previously-reported 0.9%. That means the economy shrank 0.5% in the year to September. NZ Herald Business Editor Liam Dann told Kerre Woodham the data is showing there's some momentum in the economy, especially within manufacturing and business services. He says consumers take a bit longer to feel upbeat, but the business core of the economy is picking up. LISTEN ABOVE See omnystudio.com/listener for privacy information.

I know you shouldn't count your chickens before they hatch, but can we just take a minute to look at the good economic news coming out? Government books aside, tomorrow's GDP read will show we bounced back with a spring in Q3 - close to 1 percent growth, they reckon. What's more, that shocking read for Q2 should be revised down because it wasn't actually as bad as the topline number we were given to begin with. Today, consumer confidence is on the rebound. This is according to the Westpac McDermott Miller survey. It's up 5.6 points - to its highest level this year. Still slightly below 100 - which means more are still glass-half empty than full, but it's going in the right direction. As are Seek job ads and as are most of the numbers that move first when a recovery is underway. Now, I say all of this completely aware that we've been here before and fired a blank. We've had many a false dawn and false start. But barring any major cock-ups, this recovery feels like its real and happening. The missing ingredient of course is house prices, which are either sideways or backwards for most regions. That's the liquor in your Irish coffee that really gets things moving on the economic front. But this recovery will happen without it. It won't be soaring property prices that give birth this recovery, it won't start in an auction room with the hammer going down on a $44 million two-beddy in Sandringham. What's going to drive this recovery, and make it a very gradual one, is confidence in our agricultural exporters, our lower mortgage rates, and, I think - more than anything - a feeling that we're just sick of being in this position. The ironic truth of it is that in order to get us out of the malaise, we must spend money, rather than save it. We must go out and buy stuff. So this Christmas, take that confidence to your nearest shopping mall. Tonight, I'm doing exactly that. Westfield is open till 10pm. I've found a tent, I've been eyeing it up today, and I'm ready to push play on summer and on spending and an economic Christmas miracle. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's hopes a new move by the Reserve Bank will bring about positive changes for New Zealand's banking sector. It is changing the mix of capital banks are required to hold, aiming to reduce funding costs. It is also targeting closing the gap between bigger and smaller banks - making the market more competitive. The Co-Operative Bank chief executive Mark Wilkshire says this will encourage competition and remove certain constraints impacting the banking sector. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Online marketplace Trade Me has been hit with a $138 million write-down of the value of its marketplace business unit. This comes as revenue continues to drop for the online retailer. Massey University marketing professor Bodo Lang says Trade Me still leads its current market, but its status is under threat. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Finance Minister's still aiming for a surplus this decade, despite today's bleak economic news. Treasury's Half Year Economic and Fiscal Update shows more delay to getting the books back to black. The deficit's expected to deepen more to a high of $16.9 billion and not narrow to $60 million dollars until 2029-30. Nicola Willis says a 2029 surplus is very achievable. "What that will take is just a small revision to the growth upwards, combined with fiscal discipline. And those are two things that our Government is committed to." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New data shows the service sector has now dipped in activity for six months in a row. The most recent PSI recorded performance at its lowest since May, at 46.9. For growth, it needs to sit at 50 or above. ABC Business Sales CEO Chris Small told Heather du Plessis-Allan the results were a surprise. He says the data had suggested the low point would be during Winter. The sector is blaming the weak economic environment for the downturn, Small saying that in comparison, the retail sector saw a boost around Black Friday. He says this shows things are turning around and services are just the lagging factor. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government's Half Year Economic and Fiscal Update is due to be unveiled to the nation tomorrow, and the Finance Ministers outlined her expectations. Experts have speculated a projected surplus will be pushed back from 2029 by another year, and Prime Minister Chris Luxon tempered expectations earlier today. Finance Minister Nicola Willis says 'fiscal discipline' will see New Zealand's economy keep growing in the coming months. "Importantly, I also get to update the Treasury's economic forecasts and that's what shows the picture for more job creation, income growth into the future, and people doing better." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Prime Minister's tempering expectations ahead of the Government's books opening this week. The Half Year Economic and Fiscal Update will be unveiled tomorrow - with some economists expecting a projected surplus to be pushed out by another year. Newstalk ZB senior political correspondent Barry Soper says this will be the third time a return to surplus has been pushed out. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealander Harry Mellsop has raised US$4.3 million for his start-up, Antioch, which he says brings artificial intelligence into the physical world. He explained that Antioch's tech will allow companies to build new or better AI robots by letting them test new features in software simulations. Mellsop says this technology will help develop the autonomous driving space, drone technology, the manufacturing sector and several other key industries. "I think something that's personally surprised me is a lot of interest from smart security companies, so smart home sensors, to smart doorbells, those sorts of applications as well." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's economy is set to expand next year, as several key indicators point to economic recovery. Kiwibank's latest bi-annual report forecasts a 2.4 percent growth for 2026, with boosted household confidence, an improved property sector, and a stabilising labour market. The review cites low interest rates as the leading drivers of growth. Economist Sabrina Delgado says there's a broad base for recovery, which comes as relief after 2025. "We did expect a recovery to sort of start taking place in 2025 this time last year - it took some hits and had some delays and it's just now that we're starting to see the signs of recovery taking foot." LISTEN ABOVESee omnystudio.com/listener for privacy information.

There are signs that green shoots are starting to flourish economically. The latest card spending data from Stats NZ shows retail spending was up 1.6-percent last month, compared to November last year. Spending was up across the board - on the likes of groceries, household items and clothes. ASB Chief Economist Nick Tuffley told Ryan Bridge that the GDP for the second half of the year has had a strong rebound. He says they're expecting 0.8 percent for the upcoming quarter. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The global dairy market is expected to face a period of weaker commodity prices off the back of a growth-filled 2025. According to Rabobank's Q4 Global Dairy Quarterly Report, global milk production growth is estimated to have peaked in Q3 2025. The Country's Jamie Mackay explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Singapore Government has teamed up with New Zealand-founded start-up The Fractional Directory for a new pilot programme. The project will pair fractional leaders - experienced professionals who work with multiple organisations on a flexible basis - with Singaporean companies. Company CEO Michelle Allbon says this may seem similar to consultant roles, but there's some key differences. "The different between consulting and fractional is that a fractional leader is fully embedded...we've seen this be really, really effective, it's not just giving them advice and throwing their PowerPoint over the wall." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Recent trading updates indicate the nation's leading retailers are feeling the pinch ahead of the busy season. The Warehouse and Kathmandu are among the big names that have been seeing significant losses over the past few months. Milford Asset Management's Michael Luke says there's hope things will pick up in the next few weeks, given the demand brought about by Christmas and Boxing Day. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A signal from the Reserve Bank's led Westpac to hike rates - and one economist expects other banks could follow. Westpac lifted two five-year fixed rates by 30 basis points yesterday. The bank's chief economist, Kelly Eckhold, says it seems the Reserve Bank's unlikely to cut the OCR again any time soon. "We kind of expected that they would cut the rate by 25 basis points, but we didn't expect them to call time on the easing cycle. It sort of scared the markets a little bit." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The debate over out long summer break is heating up. An op-ed from businessman Toss Grimley claims New Zealand's extended shutdown hurts productivity, a stance backed up by Auckland Business Chamber CEO Simon Bridges. Bridges says there's a real perception the country “shuts down until March”, and that we're seen more as “lifestylers” than serious businesspeople. Massey University Professor of Innovation and Economics, Christoph Schumacher told Heather du Plessis-Allan that while our summer break is long compared to the rest of the world, the question shouldn't be if it's too long, but rather if we can afford it. He says people do deserve breaks, but it needs to be structured a smarter way to keep productivity high. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Deloitte's Top 200 awards took place at Auckland's Viaduct Event Centre last night, with New Zealand space company Rocket Lab, founded by Peter Beck, taking the title of Company of the Year. NZ Herald Technology Editor Chris Keall joined Matt and Tyler to chat about the win. "To actually be a New Zealander and to even dream of doing something like that, let alone be heading off to Mars with your work, that's just so incredible," Keall said. LISTEN ABOVESee omnystudio.com/listener for privacy information.

This morning, I'm going to pretty much let Toss Grumley do the opener for me. Who's Toss Grumley? Well, Toss is a New Zealand business advisor and investor. The Post has run an editorial he wrote, bemoaning the Christmas shutdown. In it he said New Zealand's Christmas break has started to become way too extreme, and it's impacting our productivity on an individual business level and at the level of the economy. The summer break, he says, seems to be extending, leaving less room for leave later in the year. But the most concerning part is the circle back mid-February mentality, which means that while many are at work, they aren't doing much productive work. And the mentality of circle back Feb seems to start late November or early December. He says having 10 weeks of no productive conversation simply isn't good for business. He points out our productivity has grown at around 1.2% per year since 1996, while Australia's has grown at around 1.8%, and we're getting left behind. We need to work longer as we're producing less. We are 30 to 40% below top performers like the US, Norway, and Ireland. He also points out that March and April are the peak months for business arrears. This, he says, is not by chance, it's driven by business habits over December and January. Additionally, our GDP quarterly volatility is in the top third of the OECD. Again, he says, this is the Christmas season. For retail, we have a huge October to December quarter, then everyone stops spending all of January, creating cash flow problems for our businesses. He says while we all need to recuperate at times, in a country where our recovery is so fragile, we need to work hard up to the break, take some well-deserved time off, then get back into it and get our lives and businesses moving again swiftly. Thank you very much Toss and The Post for doing the heavy lifting on the editorial for me this morning. He does have a point though, doesn't he? Because we have our very own Mike Hosking who's, even as I speak, roaring down the motorway in his fine European vehicle, heading off on his hols before December's been here for a week. The Chrissy decks have barely been put up around the office, and he's gone. And it's unsettling for people when the routine is disrupted. I myself will be heading off – I don't go until the 19th, but I won't be back for a while. Most of January I'll be gone. It's a long time. They're the sort of holidays I could only dream of when I was a junior woodchuck reporter. Penny and Robert, our favourite coffee shop downstairs, they're paying rent on their space. They don't stop paying rent over Christmas and New Year, so they'll be back. Heaven knows who'll be around to buy the coffees and the excellent muffins that Helen barely ever touches because our people are clearing off apart from a skeleton staff. The council offices over the road will be deserted too, I imagine, apart from the skeleton staff. I'd be really interested to hear from you as to what you want. If you are one of the many, many small business owners, small to medium business owners, do you work like a navy right up until Christmas Eve, and then think, thank heavens, put the closed sign up on the shop and head off for three weeks, four weeks, and think, no, I'm not doing anything over January. I'm done. Do you wish that you could take two weeks off, recover, and then come back and everybody else came back too and business as usual, like Toss is saying. He got a fair bit of flak for this when he posted this initially on LinkedIn. People were really grumpy, saying he begrudged people holidays. And he doesn't. He says he just wishes they were spaced out throughout the year, rather than having the great Christmas shutdown. Do people order their bathroom or kitchen renos in December and January, or do you wait until February? Is it a case of, oh well, might as well take the time off because my supplier's taken the time off and customers aren't responding to calls, and then it becomes a domino effect. One topples and the next thing, you know, we all fall over and lie in the sand with a cool drink by our side, thinking, well, circle back February. How many weeks for you is optimum for a holiday? How many would you like other people to take? When it comes to the schools and the teachers, when it comes to radio stations and the hosts, when it comes to businesses, when it comes to suppliers. Is it six weeks, four weeks, three weeks? What to you would be the optimum? See omnystudio.com/listener for privacy information.

New Zealand's relationship with the "Land of Opportunity" is taking the spotlight in Auckland today. Business, trade, and political leaders are attending the annual US Business Summit. Christopher Luxon is set to open the summit, shedding light on the Government's actions to strengthen bilateral ties. NZUS Council Executive Director Fiona Cooper told Mike Hosking New Zealand is doing great business with the US and the summit is about sharing stories about how to navigate the tariff turbulence. But at the same time, she says there are tonnes of opportunities in the US, in areas like technology, investment, education, agriculture, and aerospace, and this is about seizing them. LISTEN ABOVE See omnystudio.com/listener for privacy information.

University of California professor and political analyst Dan Schnur talks to Heather du Plessis-Allan on the realities of doing international trade with the US in Trump's America. He explained that leaders must remember that Trump is first-and-foremost a businessman. "The city of San Francisco ... when they were worried that the Trump administration was going to send the Department of Homeland Security into their streets, they didn't deploy their congressional delegation. They sent business leaders." LISTEN ABOVESee omnystudio.com/listener for privacy information.

It probably came out on the wrong day to get the coverage it deserved, but one of the last pieces in the economic turnaround told us we are basically there. Consumer confidence is back, up six points to 98. It needs to be 100 or more for expansion, but it's the highest figure since June and backs the business confidence, which last week was up a lot. Business comes first because they see the turnaround on sales. The spending numbers back that up because they are pretty real time and then you get confidence as a follow up, given although we are spending, some may not want to admit it may still feel like they are in a bit of a funk. But add it all together and the conclusion is inescapable. You can also add the ASB housing numbers if you want. Confidence in the housing market is at a 15-year high. Why? Because it's almost perfect – good supply, cheap money, but most importantly we seemed to have crossed the psychological barrier and given ourselves permission to start to feel good again. The irony is the growth that drives all this might just have been there all along. We get the Q3 GDP number later this month with Infometrics suggesting it is 0.9%. Add that to the rest of the year and we are well above the growth line. Not that a lot of the commentary has backed that up. Which is not to say some still do it tough. It's not to say it's the boom times. It's just to say there comes a point where the facts, figures and evidence can no longer be denied. Here is my next prediction: as a result of all this, 2026 might well be a very good year indeed. That's based on the idea that economies are about psychologies. Yes, they are about fundamentals but if the fundamentals are in place, then the next thing you look for is mood. And given the mood has been so repressed, when we decide to take the handbrake off there might just be no stopping us. As I said last week don't underestimate the Reserve Bank and the finality of their cut. They said this was it, they they've done their job, we are free to go and enjoy our lives. For those waiting and dilly-dallying, that was what they were waiting for. The next confidence survey will be over 100 and that will be the start of a trend for the year ahead. Remember where you heard it first. See omnystudio.com/listener for privacy information.

Auckland oyster farmers are facing another blow just weeks after a major wastewater spill into the Mahurangi River. Watercare says heavy rain on 19 November caused 86 cubic metres of wastewater and stormwater to overflow into the river from a Warkworth pipeline. The Ministry for Primary Industries has suspended harvesting while tests are carried out, but growers say the spill has already wrecked their busiest season. Matakana Oysters owner Tom Walters told Kerre Woodham that, 'it's been a gutting year, and it seems to be the gutting cherry on top of it at the moment.' LISTEN ABOVESee omnystudio.com/listener for privacy information.

Chris Luxon says banks need to be passing on their OCR cuts to customers - and customers should be switching banks if they don't. Mortgage rates have been falling significantly, following recent OCR cuts. But the Reserve Bank says the banks still have room to move, to be cutting the rates further. The Prime Minister says [told Mike Hosking] banks should be competing for customers, and customers should be trying to get the best deal they can. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Audio file FR EDITORIAL 301125.mp3 Transcript So, did you get yourself a bargain on Black Friday or some kind of good deal in the last 10 days that may also be associated with a Black Friday? I've done quite a bit of Christmas shopping this weekend, most of it online through Kiwi retailers, and have saved at least the shipping costs or up to maybe 25% savings, which, you know, it all adds up. There have been warnings this week about being sucked into Black Friday and Cyber Monday sales. Consumer New Zealand, they did a three-month investigation. They tracked 10 products at four major retailers, and they found that half of the items could have been bought at the same or lower prices at some point in the last three months. But I think we all know this. Black Friday is a brilliantly executed marketing campaign. The reality is a lot of discounts are a token gesture, but if you do your homework and you have a bit of luck, you can find something you wanted for a good price. And I think that we approach shopping differently these days, driven by the fact a lot of the big retailers have sales all the time. If we look at the main sales at this time of the year, people go shopping at Labour Weekend, Black Friday, Cyber Monday, and hey, look, if you've missed out, Boxing Day is only about four weeks away. So you'd be an idiot to buy something when it wasn't on sale. But hopefully all the spending will still be giving retailers the lift they need. This week there was a little bit of good news from Stats New Zealand with data showing that the total volume of sales increased 1.9% in the September quarter compared to the June 2025 quarter. And this is the largest quarterly increase in activity since December 2021. Last year, payment provider data showed that more than $175 million was spent at core retail merchants during Black Friday weekend. And it's going to be really interesting to see what the figure is this year. And retail, there sort of seems to be a little bit of a frenzy around retail at the moment. Look at the anticipation around IKEA opening in Auckland's Mount Wellington this week on December 4th. Good on AT for warning shoppers there could potentially be 40-minute delays to get off the motorway. And then it may take an hour to find a car park. You were warned. You may think it's unnecessary, but we all know what it's like when we hit that traffic on the motorway and we stop. Look, I know. It's exciting. I care opening. I have a kid going flatting next year and I wouldn't be surprised if we end up buying a flat pack of some sort. But IKEA's not going anywhere. Do yourself a favour and give it some time before you descend on the Swedish giant. Or better still, shop at some of our very own Kiwi excellent flat pack furniture stores. But look, if you're less patient than me and you're prepared to deal with the traffic, best of luck out there. LISTEN ABOVESee omnystudio.com/listener for privacy information.

This week Kevin Milne wants to give a boutique business their flowers. All Better is a toy repair business run by Janice in Te Awamutu. She specialises in fixing wooden puzzles for kids – a service Kevin was in dire need of after their dog caused a bit of damage to their vintage family puzzle. If you're in need of her services, you can contact her via email: jgdownhome@yahoo.co.nz LISTEN ABOVE See omnystudio.com/listener for privacy information.

The UK's embattled Labour Government has unveiled a tax-raising budget - after its full contents were leaked half an hour early. The plan's designed to lift economic growth and ease cost-of-living pressures. UK correspondent Enda Brady says Chancellor Rachel Reeves acknowledged ordinary people would have to pay more, and it's prompted backlash. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's growing concerns from experts about the risks surrounding AI investments. Investors believe AI is at risk of forming a stock market bubble, and some analysts are worried about the risks coming home to roost. Fisher Funds expert Sam Dickie explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Can I give you a positive spin on the recession that we're just coming out of? I mean, maybe it's not so much a positive spin, but maybe it's an explanation for why this recession was harder than it needed to be - but why it actually did need to be this hard. If you've been following the commentary around the Reserve Bank's last two OCR decisions, you'll know there's been a fair bit of chat about the wealth effect and how that has made the recession worse. Now, the wealth effect is the thing that happens when your house goes up in value. You feel rich - you're not rich, you just feel rich - so you go out and spend more money. And then, of course, when it does the opposite and goes down in value, you feel poor. You're not poor, you just feel it, so you shut your wallet. And that is part of the reason why this recession has dragged - because our house prices are not going up. They have gone backwards, and so we're not spending, which means that we're not spending our way out of the recession. Now, the thing about this is that the Reserve Bank has actually done things to deliberately keep our house prices suppressed, right? Things like debt-to-income ratios. Some of the stuff is not their fault, like people leaving the country and therefore not wanting to buy a house - supply and demand, blah blah blah - but some of it is the fault of the Reserve Bank, who've done this deliberately. And I warned you about this on the show before. I said this to you in August, I said I was worried that the Reserve Bank was keeping house prices depressed and that it would drag out this recession longer, which it has. And I've been talking privately to Brad Olsen about it as well, who's been keeping an eye on it too, and we've been debating the merits of it. But here's the silver lining - we actually needed to let go of this property obsession. It's been hard, but we needed to do it because we have got to stop putting our money into property and we've got to start putting our money into businesses and other productive assets. And this is the breakup that we needed to have. No breakup is nice, and this one isn't either. So I text Brad Olsen this morning, yet again. He goes, “Oh, here we go. Here's a text from Heather.” I said, “Brad, are you still sure that it was worth it to break up with our property obsession given how hard it has made this recession?” And he just replied with, “Yes, I do.” So what I would say is, if you're doing the glass-half-full thing, at least we will come out of this recession less in love with houses and more likely to put our dollars into stuff that will actually make New Zealand richer - and that's got to be a good thing. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank has blamed the ongoing recession on an uncertain property market, prompting experts to weigh in. New Zealand has traditionally relied on housing as an engine of growth, but years of flat property prices have reportedly contributed to the ongoing economic downturn. Infometrics principal economist Brad Olsen explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Inland Revenue Department has launched some new steps in bringing down tax debt - with one scheme linked to a key credit agency. Following a successful pilot, the IRD will report more recalcitrant tax debtors to credit reporting agency Centrix. Centrix Group Managing Director Keith McLaughlin says this scheme is designed to bring down company debt at this stage, not personal debt. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Business as usual for Jetstar, despite Air New Zealand taking a swipe at its airport discounts. Air New Zealand head Nikhil Ravishankar claimed airports are unfairly subsidising the Qantas-owned airline - on our most profitable air routes. BusinessDesk reports Ravishankar says that includes open-ended discounted landing rights and cost cutting deals. Jetstar CEO Stephanie Tully says they're just focused on running their own race. "The reality is, we've been trying really hard to make sure that we've got a great value proposition in the New Zealand market - and it's great that more Kiwis are giving us a go." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank is addressing concerns cash is becoming inaccessible by bringing money to rural communities. It has opened a 12-month trial of a cash depot in Hawke's Bays' Waipukurau - offering a closer site to make withdrawals. Local banks have recently closed, meaning the nearest ATM for locals is 50 kilometres away. Reserve Bank Money and Cash Director, Ian Woolford, says, currently, only businesses can use the depot for cash. "It's quite surprising, about a third of where people get their money from is actually from a retailer...but people might be noticing retailers are increasingly saying - well, we don't really want to accept cash." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Businesses are taking class-action over a power outage to of all Northland last year - although the exact loss is still unknown. In June, an inexperienced worker removed nuts from three legs of a pylon, which toppled, cutting electricity to almost the entire region. An opt-out class action against Transpower and its lines maintenance contractor is progressing through the courts. Stout Street Chambers partner, Mike Colson, says losses will be calculated in due course. "It's giving Northland businesses an opportunity to be compensated - and second, an opportunity to incentivise those working on critical infrastructure to do a good job out of it." See omnystudio.com/listener for privacy information.

The Pohutukawa are out and flowering and abundant. The days are longer, the sun is shining, the Reserve Bank has cut the OCR, Christmas is coming, summer holidays are on the horizon, Chris Hipkins was talking tough around any kind of coalition with the Greens. We're in charge, we're not going to have this rabidly socialist nonsense, was the clear implication. Commentators are saying that this point now, here, is rock bottom. I know we've been told things are nearing the bottom, nearing the nadir, but this is it. And now things are on the up. So how confident are you feeling? I know when we've talked about this in the past, you've been bruised by past events, and that's informed the way you're thinking and who could blame you. The world has been a very uncertain place over the past five years, and nobody could blame you for hunkering down and keeping your nuts hoarded away. Nobody. Some of you have said, those of you that have got the readies to invest, you've said, "I'm not willing to. I'm just not willing to. I'm not willing to grow my business. I'm not willing to take risk in case Labour gets back in." Well, where are you at right now? The Reserve Bank lowered the OCR to 2.25%, the ninth reduction since August 2024. The bank said economic activity is picking up, inflation is forecast to fall to 2% by mid 2026, and that will help households. And listen to Roger Gray from the Ports of Auckland, who was on with Heather Du Plessis-Allan last night. “Nine months ago, I was in Miami talking to the cruise lines to try and understand why they were dropping off their bookings and the feedback across the whole lot of the four cruise lines I went to was they felt that New Zealand was just simply too hard to deal with because people were so negative about things. What I think is interesting is that's where we were and that was their perception, but the cool thing is now, I think there's a real change going on amongst people. There's a real starting to be a positivity amongst a lot of people and you know, I think the Bledisloe Wharf is a great example. If you can just get on and do stuff, we've created 250 new jobs for Aucklanders and that wharf will be finished by the end of next year.” He was saying, "Yeah, we used to be known as “No Zealand” and it was all like, 'Oh no, no. No, don't bother investing here. It's all too hard. No, you'll lose your money.'" He says it's quite different now. Quite different. He's picking up the positivity, he's seeing more of it. Where are you at right now? You know, as we go into Christmas, there's a month of business for many companies and many businesses and many workers. It's a busy time of year up until a couple of weeks before Christmas, then as we go into Christmas and the Christmas holidays, how are you feeling about going into 2026? Are you feeling optimistic? Can you feel the tide is turning? See omnystudio.com/listener for privacy information.

Leaky-home experts fear a proposed overhaul of the Building Act could leave unlucky home owners - apartment owners in particular - in financial ruin. Under the new regime, liabilities are only assigned to the party responsible, and for many new buildings, a warranty will be required. NZ Herald Wellington business editor Jenee Tibshraeny unpacks the concerns further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank ended the year on a hopeful note and brought down the OCR for the end of 2025. The central bank cut the Official Cash Rate another 25 basis points today - bringing it to 2.25 percent. Milford Asset Management's Sam Trethewey explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.