Best of Business

Signs are looking good for Fonterra's major sell-off to get the green light this morning. By 10:45 today, the shareholders will decide if selling big brands like Anchor and Mainland to global dairy giant Lactalis is the right decision. Fonterra Shareholder and Supplier Garry Reymer told Ryan Bridge that the majority of shareholders seem to be in favour of the sale. 'I hear a few farmers who tell me they're gonna vote against it, but by and large the majority seem to accept,' LISTEN ABOVESee omnystudio.com/listener for privacy information.

Labour recently confirmed it aimed to campaign on the introduction of a capital gains tax on commercial and investment residential property. Leader Chris Hipkins also claimed the money raised would be used to fund the health system, but questions have been raised over whether this proposal can work. NZ Herald Wellington business editor Jenee Tibshraeny weighed up the idea, and whether Labour can be trusted to spend the money wisely. LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's been a tough couple of years for the economy, but there's hope things will pick up sooner rather than later. There's been an improved outlook on the NZX and NZME recently posted that it had upgraded its earnings forecast. Jeremy Hutton from Milford Asset Management explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The rate Labour settled on for its capital gains tax policy is partially below the recommendation made by the tax working group six years ago. The proposed 28 percent rate would apply to commercial and investment properties from July 2027 - with the revenue going towards health system. Independent tax expert Geof Nightingale weighed up whether this proposal would bring in what Labour's promising. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Companies sharing small numbers of subscription passwords to access paywalled news content may face legal scrutiny. Business website NBR has reached settlements with three major corporates, including a national law firm, for what it calls the 'illegal stealing of its content'. NBR owner Todd Scott says this case is a 'friendly warning shot' for the impacted companies. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government is throwing it's weight behind aged care reform. A ministerial advisory group has been established to review the outdated funding model, which currently costs $2.5billion a year. Chief Executive of the Aged Care Association Tracey Martin told Mike Hosking that the government is ready to make progress instead of writing more paperwork. 'The announcement that has been made recently is the first true action. This is not another review.' LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's set to get easier for New Zealand businesses trading in South East Asia, as the Prime Minister's in Malaysia to finalise a regional deal. Chris Luxon is in Kuala Lumpur for the ASEAN summit and will finalise a Comprehensive Strategic Partnership with the association. ASEAN has 11 member countries such as Malaysia, Thailand, Singapore and Laos. Trade Minister Todd McClay told Mike Hosking that it can be difficult for kiwi businesses to deal in South East Asia, with often complex and prohibitive rules. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Prime Minister's met with various South East Asian leaders but missed out speaking with US President Donald Trump, as he attends talks in Malaysia. Chris Luxon's attending the ASEAN summit in Kuala Lumpur for bilateral talks with regional leaders. Donald Trump was at the talks briefly, before leaving for Japan to meet their new leader. Senior Political Reporter Azaria Howell told Ryan Bridge the pair will have a chance to cross paths again, with APEC in South Korea later this week. She says Luxon told a news conference it's unlikely there'll be any reprieve from tariffs. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's economy could look to benefit from Fonterra's proposed sale. The proposed sale of Anchor and Mainland brands to French company Lactalis could unlock around 4.5 billion in additional spending. ASB Chief Economist Nick Tuffley says they estimate around 60 percent of shareholding farms could receive at least 200-thousand dollars. He says the likely pay out would happen in the first half of next year, so after then, the impacts on farm investments or consumer spending would be seen. LISTEN ABOVESee omnystudio.com/listener for privacy information.

MetService says the strong winds that battered the South Island and lower North are now easing - but there are still a few things to keep an eye on. Red wind warnings have lifted for Canterbury, Southland, Stewart Island, Clutha, Wellington and Wairarapa. Widespread power outages remain across Canterbury, Wairarapa, Manawatu-Whanganui, Marlborough and Southland, where some repairs could take more than a week. The Country's Jamie Mackay unpacks the damage further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

More and more businesses are rolling back sustainability initiatives and DEI requirements, but one expert says it still pays to be progressive. The Net Zero Banking Alliance has shut down, Nestle has pulled out of the Dairy Methane Action Alliance and the Government recently loosened climate reporting requirements for companies. Despite this, former Starbucks Chief Sustainability Officer Michael Kobori says it's still good to make progressive choices to boost your business. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwis will be able to buy a share in a house for as little as $100 with a new investment platform launched today that promises to break down the barriers to home ownership. Housies will allow investors to buy shares in a house and receive returns from rental income or long-term capital growth. Co-founder James Jordan says this will allow people to easily get access to a home if they invest enough. "They have skin in the game, they've got their own money in the property. The properties are all going to be new homes and they're going to look after them and we're going to support them." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Labour plans to expand rebate for game development industry. Labour says that, if re-elected, they will expand the game development rebate, which gives Kiwi studios access to $40million a year to grow the industry. The subsidy currently covers 41 different game studios, and in the 2025 financial year $24million of the $40million was spent. Game Developers Association Executive Director Joy Keene told Ryan Bridge that, “the world can't get enough of New Zealand developed games.” LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Government is more than halving the number of entities that need to make climate-related disclosures. It has proposed to only require listed issuers with market capitalisations of more than $1 billion to make disclosures. Currently, the threshold is $60 million. NZ Herald Wellington business editor Jenee Tibshraeny explains the changes further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

More financial experts have raised concerns about an AI bubble - and what it could mean for the wider economy. Multiple AI companies are attracting the attention of investors, and this interest is projected to grow, but concerns have been raised. Milford Asset Management Andrew Curtayne explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's yet another, frankly welcome, sign that the world's climate overhype may be over, or at least correcting. The latest is that the Government has announced it's now easing the rules on how much compulsory climate reporting the big listed companies have to do. Now, I don't blame you if you feel at this minute like your eyes are about to glaze over, but do not let that happen. Because this is actually much more important than it sounds. This goes back to the bad old days of Jacinda and Grant in 2021, when the Ardern administration brought in rules forcing large, publicly listed companies to report to shareholders the impact that climate change may have on them. It was world-leading, it was ground-breaking - and it was incredibly expensive. Turner's, the car company, reckons that their first report, which only runs to seven pages, cost them $1 million to produce. Some companies have told the relevant minister, Scott Simpson, that it cost them $2 million to produce their reports. And the ones who are getting off easy here are still paying apparently close to $10,000. Veteran director Joan Withers famously complained about this in July, when she said that climate reporting was taking up more of her time than preparing financial statements, which is the actual thing that shareholders are interested in - and that is completely nuts. And for all of the money and all of the effort that these businesses were putting into it, not one carbon particle was saved from going into the atmosphere. It did not bring down anybody's emissions and that was not the point of it. It was simply to talk about it. And the money was just wasted on paperwork instead of being reinvested into the business to raise productivity, which is the thing that we should be laser-focused on in this country. Now, I applaud the Government for doing what it has done today, but it does not go far enough, because they've only eased the rules for the smaller companies. So about 88 of them will now not have to report. But 76 of the big ones are still going to be required to do this utterly pointless, expensive, unproductive exercise. If it is pointless and expensive and unproductive for the small companies, it is also pointless, expensive and unproductive for the big companies. And the Government should go further than it has today. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Air New Zealand says it now expects to make a first-half loss of about $30 million to $55 million, before tax. It's just provided a trading update to the NZX. The national carrier says it expected a two to three percent uplift in revenue across domestic and US-bound bookings. However, this hasn't materialised and isn't evidenced in future bookings. NZ Shareholders Association head Oliver Mander says the engine issues and ongoing economic downturn are the main factors behind these changes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A Kiwi company is investing in drone boats able to be used for defence - on home shores and beyond. Robotics company Syos has acquired Tauranga business Bay Dynamics. Syos CEO Sam Vye says it will strengthen their position in the surveillance and defence market. He adds underwater sabotage is a growing concern overseas. "Particularly in the EU around potential sabotage by hostile vessels or vessels from certain countries that might accidentally drag anchor or intentionally disrupt seafloor infrastructure." LISTEN ABOVESee omnystudio.com/listener for privacy information.

With gas prices going up all over the country, there's debate over whether households should make the switch to electricity. Contact Energy recently revealed it's hiking gas prices by an average of 17 percent, as the decline in production has hit faster and harder than expected. Master Plumbers CEO Greg Wallace says making the switch is a big decision - and could set households back by thousands of dollars. "The costs are anything between five and a half to $10,000 dollars to change over, so that capital investment is a considerable investment, and that payback takes some time." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A new report reveals the importance of contributing to Kiwisaver after buying a first home. The Retirement Expenditure Guidelines from Massey University and Fin-Ed Centre suggests Kiwisaver is great for funding retirement - if utilised correctly. It finds a modest retirement goal can be reached by age 65 even after withdrawing funds for a first-home at 35. But report author Associate Professor Claire Matthews says there is an emphasis on using it for a home. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Alliance has reached a $270million deal with Dawn Meats. 2,600 farmer-shareholders voted 87% in favour of selling 65% of the company arm to the Irish-backed company. The new investment is expected to strengthen Alliance's balance sheet, pay down debt and enable greater capital growth. Spokesperson for Alliance shareholders Jeff Grant told Mike Hosking that ‘The company was forced into a position of having to find new equity.' LISTEN ABOVESee omnystudio.com/listener for privacy information.

Partially selling one of New Zealand's largest meat companies should give it much-needed capital, according to some. Farmer shareholders of Alliance Group voted to let Ireland's Dawn Meats buy a 65 percent stake in the company, for $270 million. The remaining 35 percent will still belong to the co-op. The Country's Jamie Mackay explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Problems with Amazon's cloud services in the US have been felt around the world. Thousands of websites and apps were affected by an outage during the night, including TVNZ Plus, Neon, Sky TV, Snapchat and Wordle. Tech commentator Paul Spain says a lot of things got broken in the process of trying to undo the damage, and some businesses are still trying to recover. "When you break a lot of technology, sometimes it takes quite a bit of effort to actually get that fully back to operation, and possibly Amazon have been a bit cautious about putting thing back up to full speed, but they haven't officially indicated that from what I've seen." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A survey of roadworkers has found many face routine abuse, attacks, and some are even purposely hit by cars, according to new reports. The survey, which was run by Temporary Traffic Management Industry Steering Group, included 667 workers across New Zealand who described their experiences with verbal abuse and physical assault. Pipeline & Civil Ltd owner Hugh Goddard says he's heard his staff have been yelled at, almost hit by vehicles - and nearly faced physical abuse. "I wasn't involved in the development of the survey, but I know over 700 TTM workers in New Zealand who responded in the survey, which is a significant sample. And that's the feedback that's coming through, so it's very much a real issue." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A multi-million-dollar class action against ANZ New Zealand over historic disclosure obligations looks likely to go ahead. ASB earlier this month settled its part in the four-year class action for $135.6 million - without conceding liability or wrongdoing. ANZ Chief Executive Antonia Watson has voiced disappointment with the development. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Recent Stats NZ data shows annual inflation hit three percent in September - the upper limit of the Reserve Bank's target range. This has sparked mixed reactions from the Government, but it's unclear if New Zealand avoided another technical recession. Harbour Asset Management's Shane Solly unpacked the market responses. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's belief from some economists that inflation's peaked, and it's all downhill from here. It reached 3 percent in the year to September - up from 2.2 percent the year before. Kiwibank says the third quarter is traditionally tough, and conditions are likely to improve as the year ends. Kiwibank chief economist Jarrod Kerr says he's satisfied domestic prices will now ease. "We think inflation, this time next year, will be running at about 1.7, 1.8 percent. So job done for the Reserve Bank." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Annual inflation has risen to a 15-month high of 3%. Economists had been expecting inflation to reach or surpass the 3% upper limit of the Reserve Bank's target band. The central bank's expected to look past this current spike when it reviews the OCR next month. New Zealand Herald Business Editor-at-large Liam Dann told Kerre Woodham that, “this this drip feeding of the rate cuts means that everybody just waits.” LISTEN ABOVE See omnystudio.com/listener for privacy information.

Another spike in inflation won't stop the Reserve Bank from cutting the Official Cash Rate again next month. Stats NZ is providing its latest quarterly CPI update at 10.45. Most economists expect it to hit the Reserve Bank's upper limit of three-percent, and some think it will surpass that limit. But Westpac Chief Economist Kelly Eckhold told Mike Hosking the Reserve Bank still thinks the economy's weak enough to start pushing inflation down. He says even the Reserve Bank probably won't be too bothered, even if inflation surpasses the three-percent limit. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Shane Jones is determined to use his voice to attract mining investors to our shores - no matter the next election outcome. The Resources Minister and self-proclaimed 'mining champion' is heading to the International Mining and Resources Conference in Sydney, to promote our supply of rare earth minerals. Jones told Ryan Bridge regardless of the risk of the opposition taking power, if there is no strong advocate for mining, then we surrender to woke-ism. He says investors are warming to the fact New Zealand has a voice that is pushing back the tide, and without it, we'd be poorer. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Several Kiwi industry leaders and screen businesses have teamed up to officially launch Screen NZ International, an industry body designed to boost New Zealand's film industry. The organisation aims to help New Zealand remain a competitive screen destination by building relationships with clients and promoting the country internationally. Screen NZ International executive chair Mel Turner says the organisation wants to see New Zealand be 'globally competitive'. "It's a fierce global market out there for international productions coming into New Zealand, so we want to focus on the industry becoming more sustainable and future-focused." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Most people think about money in terms of days. Wealthy people think about money in decades. Here's how to think about money differently: Based on this calculator. Ed McKnight joined Jack Tame to look at how Kiwis view their money, and why we should start counting decades, not days. LISTEN ABOVESee omnystudio.com/listener for privacy information.

In July the Government announced a ban on surcharges on credit card payments in-store from May 2026 at the latest. ACT is attempting to block this ban by allowing credit card surcharges, as long as other payment options are offered- such as cash or eftpos. They suggest the ban will either increase prices for customers or unfairly punish businesses. ACT Commerce and Consumer Affairs spokesperson Dr Parmjeet Parmar said to Heather du Plessis-Allan that ACT's proposal was creating with 'cost and choice' in mind. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There are fears that inflation could come back into the picture as the OCR falls. Infometrics expects the OCR to fall to 2.25% next month - it's 2.5% at the moment. Infometrics Chief Forecaster Gareth Kiernan says they expect to see growth hit 2.3% annual growth in 2027. He says alongside stoking inflation, it could create other problems. Kiernan says it risks stretching capacity in the construction and infrastructure sector. LISTEN ABOVESee omnystudio.com/listener for privacy information.

An argument has been made that the government has ‘overdone it' with interest rate cuts. Economist Cameron Bagrie told Ryan Bridge that the Reserve Bank has a difficult balance to maintain. 'Giving the economy a little bit more juice is not without risk...and headline inflation is moving up.' LISTEN ABOVE See omnystudio.com/listener for privacy information.

Amazon has been scaling up its same-day grocery delivery services across cities all over the US. It's looking to expand to 2,300 US cities by the end of the year, and investors are speculating about what it could mean for the market. Sam Dickie from Fisher Funds explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's no guarantee businesses will honour unredeemed vouchers from GrabOne, which has gone into liquidation. The online deals website won't be issuing refunds for unused purchases - and has told customers to directly contact vendors. Some sellers have indicated they'll recognise GrabOne deals, but others say they may not be able to. Parakai Springs general manager Dion Tilson says they will honour vouchers, but customers could lose-out at other companies. "I've spoken to a lot of businesses, restaurants and so forth, hotels - they may not be in a position to be able to offer it." LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's thought that the aviation sector is over capitalising - as New Zealand's domestic airfares have shot up more quickly than any other country. A global airport group says domestic airfares are up 63% in six years, and are well ahead of the second-highest, up 53%. Air New Zealand's Chief customer and digital officer Jeremy O'Brien told Mike Hosking that accelerated inflation is effecting the industry. He says we're a reasonably small country with long distances to fly. O'Brien says in many cases the industry is over-capitalising, which then impacts the sustainability of the market. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Airports Association is defending itself after airlines blame their charges, for spikes in airfares. An international airport group says New Zealand's domestic airfares have shot up more quickly than any other country by 63-percent in six years. But Air New Zealand says its fares are only up 35-percent. Association chief executive, Billie Moore told Ryan Bridge the biggest driver is air capacity reduction, so smaller numbers of passengers are footing bigger bills. She says criticising airport charges has long been a strategy for major airlines but they're not the reason. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank recently disputed the idea that Covid-era money printing programme caused sky-high inflation, which cost the Government billions. Staff at the bank have published new research that concludes the bank's $55 billion Large-Scale Asset Purchase (LSAP) programme didn't 'meaningfully' contribute to above-target inflation following the pandemic. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Spark's becoming the first New Zealand telco to block all child sexual abuse images made with artificial intelligence. It already stops access to photo-realistic material made by AI, but this move will extend to images which have a cartoon or artistic style. The website list comes from the Internet Watch Foundation which has seen a 400 percent increase in this type of material. Spark Sustainability Director Leela Ashford says it blocks the sites automatically. She says the list can include tens of thousands of websites. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Mooove over dairy and beef cows, for a new hybrid breed on the block. Pāmu and Livestock Improvement Corporation have created a new cattle breed - called the Synegizer. About 350 first-cross beef-on-dairy calves were born this year, and limited frozen insemination will available next spring. Pāmu CEO Mark Leslie says dairy farmers won't use Synegizers for milking. "These bulls will be used to go over maybe some of the cows they don't want to keep the replacements out of - and they'll use these to generate animals that can then go off into the livestock centre." LISTEN ABOVESee omnystudio.com/listener for privacy information.