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Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the imminent deal Trump talked up on Saturday seems to have faded, mainly because Israeli attacks on Beirut have undermined the situation. But if there was to be a deal, it is sure to dominate financial markets. In the meantime, war is the standard situation. These same markets are also contending the implications of the wildly successful SpaceX float. It was full of animal spirits, FOMO, and gambling fever, and more than a few observers are seeing this as evidence of a gigantic bubble. After all it values SpaceX at 100 times its current revenues, and the business operates at a loss. At a US$2 tln 'value', to be sustainable it would need to generate after-tax profits of at least 10% or US$200 bln per year. And that is about double what Aramco-plus-Google do now, #1 and #2 combined. In the real world, Thursday will bring the next US Fed policy meeting result, the first chaired by Kevin Warsh, Trump's replacement of Jerome Powell. Powell will still have a vote however. Most observers see them holding their key rate at 3.75%. The Fed has an inflation target of 2% for the PCE measure of inflation which is currently running at 3.8% with the CPI running at 4.2%, a three year high, with both rising sharply last time they were released. There will need to be some policy gymnastics to ignore those signals, but they may hope the fuel component reverses soon to save them. That is probably why markets think there will be no change on Thursday. The US Fed won't be the only central bank on action this week. We will get reviews from the Bank of Japan (+25 bps to 1.00% expected), Sweden's Riskbank, Norway's Norges Bank, the Swiss National Bank, the English central bank, even in Brazil. More importantly for us is that we will get the RBA's latest update on Tuesday, where no change from the current 4.35% is expected. And the New Zealand Q1-2026 GDP result will drop this week and it will be a surprise it it isn't a year-on-year growth rate of +1.1%. Of course, this will be very dated data. In fact the RBNZ's own Nowcast suggests GDP will drop -0.2% in Q2-2026 from the prior quarter after rising +0.6% in the March quarter. Markets see a March quarterly rise of +0.9%. In Japan, attention will focus on the Bank of Japan's policy meeting, where it is widely expected to raise the benchmark interest rate by 25 basis points to 1% amid persistent inflation and yen weakness. If delivered, it would mark the first rate increase since December last year and the highest policy rate since 1995. The country is also set to publish trade, inflation, and machinery orders data. In India, producer inflation is projected to rise to 9.1% in May from 8.3% in April, driven by rising energy costs. Other major releases include trade, unemployment, and passenger vehicle sales figures. In China, investors will monitor a series of key economic releases next week, including house prices, industrial production, retail sales, fixed asset investment, and their jobless data. After April's surprise decline, China's May new yuan loans resumed their growth in data out over the weekend, up +5.5% from a year ago with a modest +¥520 bln rise, about what was expected (+¥550 bln). Still, at that level it is the weakest May increase in eighteen years, as the usual suspect - the property market - continues to drag on bank lending. Across the Pacific, American consumers felt the cost of living pressure ease slightly in June as petrol prices came back off their recent war highs. The University of Michigan's Consumer Sentiment Index rose in early June, up from May's all-time low and a better than expected recovery. It was a modest recovery all the same with improvements seen across all age, education, and political groups. Lower-income consumers, for whom fuel represents a larger share of budgets, showed a particularly strong rebound even if it is still deeply negative and its second lowest of all time. And in Europe, Switzerland had another set of national referendums. One proposal, to cap its population at 10 mln, has been voted down. The UST 10yr yield is now just on 4.49%, up +1 bps from Saturday, down -5 bps for the week. The price of gold has recovered a very minor +US$4 from Saturday to US$4222/oz but down -US$102 for the week. Silver is little-changed US$67.50/oz and the same as last week at this time. Oil prices are up +50 USc from Saturday at just under US$85/bbl in the US, while the international Brent price is now just on US$87.50/bbl. A week ago these two prices were US$90.50 and US$93/bbl respectively. Hormuz transits have dried up again. And global oil reserves are draining into uncharted territory. The Kiwi dollar is down -10 bps from this time Saturday at just on 58.3 USc, up +30 bps for the week. Against the Aussie we are unchanged at 82.8 AUc. Against the euro we are holding at just on 50.4 euro cents. That all means our TWI-5 starts today at just under 62 which is unchanged from Saturday, up +30 bps for the week. The bitcoin price starts today at US$63,655 and down a minor -0.3% from this time Saturday. That is a +5.8% rise from this time last week. Volatility over the past 24 hours has been low at just over +/- 0.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorriow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

The red meat sector is a cornerstone of Aotearoa New Zealand. Beef + Lamb New Zealand (B+LNZ) and Meat Industry Association (MIA) have just released new research that offers a robust, evidence-based assessment of the economic and social contribution of the sector, including production, processing and exporting. It is the first full measure of the sector's economic and social contribution since 2020. Project Lead Connor McIndoe from Business and Economic Research (BERL) joins us to make sense of it all. Read the full report here: Research shows New Zealand's red meat sector drives nearly $50 billion in annual spending across the economy.  

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news Trump cancelled his latest planned military strikes claiming negotiating progress. That has been enough to settle financial markets today. But first in the US, producer prices jumped +1.1% in May from April to be +6.5% higher than a year ago and to their highest since November 2022. And before the pandemic, their highest since this series began in 2009. Core PPI was up +5.1% and a similar high. These rises were more than expected. US initial jobless claims also rose more than expected last week.to 228,400 and more than seasonal factors would have indicated. There are now 1.69 mln people on these benefits, less than a year ago and marginally less than two years ago. In Canada, building consents were expected to fall back in April after the spurt in March, but they fell more than expected. Residential consents fell -5.5% and commercial consents fell an outsized -10.5%, both from the prior month. From a year ago, these consent levels were +2.5% high, but that is on a value basis and construction PPI rose +2.8% in that same time. In Europe, the ECB raised its policy interest rate by +25 bps to 2.4% as widely expected, it first increase since 2023. It also raised its inflation expectation to 3% in 2026 and cut its growth forecast slightly to +0.8% this year and to 1.2% in 2027. In Indonesia, their financial crisis is intensifying with their currency in freefall and their stock market too. The worry is it may drive a social crisis at our backdoor. In Australia, the Melbourne Institutes survey of inflation expectations dipped in June to 5.5% following a dip in May after they peaked at 5.9% in April. The June result was well below the 6.5% jump some expected. But remember, their fuel tax concession (50%) is expected to end at the end of this month. If it does, it could put upward pressure on consumer inflation. (April actual CPI came in at 4.2% and the May result will be released on June 24.) In contrast wage expectations have remained unchanged for the past seven months. The World Bank said overnight that global growth is leaking away due solely to the Middle East handbrake. It now sees 2026 expanding at 2.5%, and 2027 at 2.8%. These are slowdowns from 2025's +2.9% expansion and the prospect is slowest growth since the pandemic. Meanwhile OPEC bravely says that world oil demand will recover quickly after the current Persian Gulf issues are resolved. Global container freight rates rose another +3% last week to be level with the elevated rates of a year ago, when the Houthis were threatening the Red Sea access. It is all about outbound rates from China to Europe. In fact, China to the USWC rates are holding, but much lower on a year-ago basis. Bulk cargo rates fell -12% in the past week to be +68% higher than year-ago levels. And official forecasters are now certain enough to warn of a severe El Niño climate event starting soon. The US issued its official warning after Australia said the chances are rising. We are being warned to expect 2026-27 to bring global risks of intense heat waves, sharp drops in rainfall in some key areas but deluges in other parts. India is expected to get a weak monsoon. The UST 10yr yield is now just on 4.45%, down -9 bps for the day. The price of gold has recovered +US$54 from yesterday at US$4152/oz. Silver is up US$1.50 at US$66/oz. Oil prices are down -US$5 from yesterday at just under US$86.50/bbl in the US, while the international Brent price is now just on US$89.50/bbl. Hormuz transits are resuming today with 69 in the past 24 hours as owners rush to get their ships out. The Kiwi dollar is up +10 bps from this time yesterday at just under 58.2 USc. Against the Aussie we are down -20 bps at 82.7 AUc. Against the euro we are little-changed at just on 50.3 euro cents. That all means our TWI-5 starts today at just over 61.8 which is also little-changed from yesterday. The bitcoin price starts today at US$63,223 and up +2.3% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday.

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz.  Today we lead with news the US is frustrated with Iran and is promising even more military strikes. The deal Trump thought was close, isn't. The escalation threat has oil and financial markets reacting badly. But first today, American CPI inflation jumped from 3.8% in April to 4.2% in May, largely as expected and largely based on higher fuel costs. This is its highest since April 2023. Today's geopolitical events and markets reactions probably mean it isn't finished with the current trajectory. Actually, for March, April and now May, their CPI index rose +2.0% in just those months, so the rate being experienced by consumers (annualised +8%?) is very much higher than the annual one reported. The White House reaction was very unexpected: Trump said, "You know, I love the inflation." Certainly, financial markets were unimpressed. There was a large jump in American mortgage applications last week even though benchmark home loan interest rates stayed elevated at about 6.6%. After six weeks of holding back, it seems borrowers are coming to accept that they have to pay these higher rates. Remember pre-war, these rates were under 6.1%. The jump in applications this week were from both new borrowers and those needing refinance. For a seventh straight week, and including stocks in their strategic reserve, American crude oil stocks dropped in the latest update, and by almost double the rate expected. Today's US Treasury 10yr bond auction was well supported and yield's rose only modestly for this one, coming in at 4.48% median (4.54% high bid), up from 4.41% at the prior equivalent event a month ago. In Canada, their central bank kept its policy rate unchanged at 2.25% as expected, and for the fifth consecutive time. They had inflation at 2.8% in April so, so far, there is little evidence higher energy prices are being passed on or embedded in their consumer cost base. Data out in Japan yesterday shows their May producer prices rose +6.3% from a year ago, up from 5.3% in April and the fastest rise since the end of the pandemic in March 2023. After the April spurt, they rose another +0.9% in May alone. China's CPI inflation level was low and stable in May, coming in at 1.2% from a year ago, unchanged from April. Beef prices were up +4.2% however and lamb prices up +6.2%. Egg prices are up +6.6% on the same basis and a five year high. These were more than offset by a -16% drop in Chinese pork prices though. And dairy prices fell -1.2% on the same year-ago basis. But China's producer prices are not so calm. In fact they rose an outsized +5.8% in May from a year ago for industrial products, up 3.9% overall when you broaden the categories to include food, clothing and other goods produced for consumers. Apart from the pandemic, the headline 3.9% is the highest they have had since August 2018. In Australia, we should note that their emergency petrol tax concession will end at the end of June. That will juice up their inflation if it isn't extended. The UST 10yr yield is now just on 4.54%, up +1 bp for the day.  The price of gold will start today down another -US$160 from yesterday at US$4098/oz. Silver is down -50 USc at US$64.50/oz. Oil prices are up +US$3 from yesterday at just under US$91.50/bbl in the US, while the international Brent price is now just on US$94.50/bbl. Hormuz transits are almost non-existent today, only 2 in the past 24 hours.. The Kiwi dollar is down -10 bps from this time yesterday at just on 58.1 USc. Against the Aussie we are up +10 bps at 82.9 AUc. Against the euro we are down -10 bps at just on 50.3 euro cents. That all means our TWI-5 starts today at just over 61.8 which is down -10 bps from yesterday. The bitcoin price starts today at just on US$61,781 and little-changed (up +0.3%) from this time yesterday. Volatility over the past 24 hours has been modest at just over +/- 1.7%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news uncertainty swirls in the Middle East as Iran has shot down an American Apache helicopter (and Trump is looking more like Jimmy Carter by the day). But more ships are transiting (paying Iran's toll), and that extra oil is easing the global price. But first locally, the overnight dairy Pulse auction delivered lower prices for the four products offered. AMF was down -4.6% from last week's full auction. Butter was down -0.6%. SMP was down -5.5% and WMP was down -3.5%. But an intervening -2% fall in the NZD took some of the sting out of these retreats. In the US, NFIB Business Optimism Index fell again and to its lowest since October 2024.. These businesses are struggling with "significant and unpredictable hikes in fuel prices", which they find harder to pass on to their customers compared to their larger corporate competitors. The weekly ADP jobs report said new private sector jobs created were lower last week at +29,000, in fact their lowest since the end of March. American existing home sales actually rose in May to an annualised rate of 4.17 mln, its highest of the year. This was impressive because mortgage interest rates rose in the period and seems not to have been the handbrake sometimes assumed. All the same, unsold inventory rose. There was a small but notable increase in demand for the overnight and popular US Treasury 3 year bond which delivered a median yield of 4.15% (high of 4.19%), sharply up on the 3.92% median at the prior equivalent event a month ago. In April, US exports of goods and services rose +2.6% from March +12.5% from a year ago, helped by better exports of crude oil, AI computer gear and aircraft, but most offset by a quite sharp fall in tourism receipts. Imports were up +1.9% from March, up +9.1% from a year ago, dominated by capital goods and rising transport and travel cost by Americans. Their trade deficit narrowed slightly, but big trade deficits remained with Taiwan (-$19.3 nln), Vietnam (-$19.3 bln), Mexico (-$14.8 bln), China (-$12.0 bln), the EU (-$7.2 bln), and Canada (-$6.2 bln). The Texas screwworm outbreak is spreading which will affect their beef trade. The outbreak now includes for a dog. Meanwhile, Canadian exports rose +1.6% from the previous month to C$75.2 bln in April, the highest on record and up +24.7% from the same month a year ago. Imports rose too, but they still managed to report their best monthly trade surplus since January 2025 and their best April since 2008. Across the Pacific, China's exports surged +19.4% in May from a year ago to a record high of US$377 bln, far exceeding forecasts of +15% and accelerating sharply from April's 14.1% rise. It was the fastest increase since February and gave them a trade surplus of +US$105.4 bln. However, Chinese oil imports hit an eight year low in May. Across the strait, Taiwan said its exports rose even more impressively, up +52% from a year ago. Their imports were up +55%. That means a trade surplus for them of +US$17.9 bln, middle-range for what they have had since October 2025 and wildly higher than in any prior period Japanese machine tool orders fell in May from April after falling in April too. But they remain up +37% from a year ago. The monthly easing was for orders from both domestic and foreign customers. Staying in Japan, reports are growing that their central bank will raise its policy rate by +25 bps to 1.0% when they meet on Friday week. And they are likely to pause their JGB bond sell-down program that is underway. And in Indonesia, their central bank held an emergency meeting to assess the economic crisis growing in their financial and fx markets. At that meeting they hikes their policy rate to 5.50%, a hike of +25 bps. They last met only three weeks ago when they raised their rate by +25 bps at that time too. They started 2026 with a 4.75% rate. Their actions are required to stop the Indonesian currency falling sharply, down -7.8% in 2026. In Europe, the Netherlands blocked an American company from buying a local firm that handles its national ID system, saying it would create a “threat to the public interest.” The UST 10yr yield is now just on 4.53%, down -2 bps for the day. The price of gold will start today down -US$75 from yesterday at US$4258/oz. Silver is down a sharp -US$3.50 at just under US$65/oz. Oil prices are down -US$2.50 from yesterday at just under US$88.50/bbl in the US, while the international Brent price is now just on US$91.50/bbl. Hormuz transits are still very low despite the pricing optimism. China's crude imports dropped to around 7.8 million barrels per day last month, the lowest level in more than eight years and nearly 4 million barrels per day below the 2025 average. Weaker shipments to from the world's largest oil importer even if caused by Hormuz, combined with record US exports and emergency reserve releases, has limited the price impact of the Middle East conflict. The Kiwi dollar is up +10 bps from this time yesterday at just on 58.2 USc. Against the Aussie we are up +30 bps at 82.8 AUc. Against the euro we are unchanged at just on 50.4 euro cents. That all means our TWI-5 starts today at just on 61.9 which is up +10 bps from yesterday. The bitcoin price starts today at just on US$61,545 and down -2.95% from this time yesterday. Volatility over the past 24 hours has been moderate at just over +/- 2.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Sugary drinks are a favourite for many children across the country. However, this consumption of high-sugar drinks is proving harmful, with dental issues, heightened risk of diabetes, and other health issues tied to these drinks. Despite this, sugary drinks are stil readily available to children across Aotearoa New Zealand, even within their schools. This morning, the New Zealand Beverages Guidance Panel, published a policy brief calling for the ban of sugary drinks from school grounds - prohibiting them from being purchased or brought by students into schools To learn more, I spoke to the University of Auckland's Dr Gerhard Sundborn, a member of the New Zealand Beverages Guidance Panel, on their policy brief.

Per- and polyfluoralkyl substances (or, PFAS) have been called ‘forever chemicals'. That's because these synthetic chemicals are incredibly durable, lasting thousands of years. This durability has made this large group of chemicals useful in a variety of industries, from cosmetics to electronic and cookware. However, PFAS have been linked to a myriad of health risks including cancers, liver damage, and suppressed immunity, bad news, given their ubiquity within the environment and humans. Recently, the Australian Government moved to sue the manufacturing giant 3M for $2.4b NZD, for their use of forever chemicals in firefighting foam, which contaminated numerous defence force bases across the country. While no such legal action is yet on the cards for New Zealand, increased attention is being given to the presence of PFAS in our environment. In 2022 PFAS were for the first time included in the suite of compounds analysed in a quadrennial groundwater survey. However, there is still a lack of information on how present PFAS are in Aotearoa New Zealand, so later this year the Environmental Protection Authority will be engaging with councils and other agencies to carry out further groundwater testing. To learn more, producer Theo spoke with the Environmental Protection Authority's acting manager of hazardous substances applications, Dr Shaun Presow.

Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news that yesterday's renewed hostilities between Israel and Iran seem to have been paused. And financial markets are reacting as though this is something permanent, a deluded reading of even recent history. It is more an excuse to bet on higher equity prices again. Away from these irrational markets and after hitting a two and a half year high in April at 3.5%, American inflation expectations for one year ahead slipped back to 3.2% in May, according to the latest national New York Fed survey update. Given that April's actual inflation was recorded at 3.8%, this represents a sanguine view of what lies ahead. More broadly, the same survey shows that households expect their financial situation to deteriorate. It is not only households. In a focus on the SME sector, another national review found them deeply pessimistic about 2026 prospects. Across the Pacific in Japan, some top-line data out yesterday for the March quarter points to improving metrics. GDP came in with a +1.8% growth rate and better than expected (+1.3%). And bank lending data shot up in May, up +5.7% and easily exceeding the expansion of +5.4% in April from a year ago. In China, construction machinery sales were strong in May with excavator sales up +36% from year-ago levels as infrastructure projects gain momentum. Things are not so bright for car sales in China. Sales ‌dropped -22% from a year earlier to 1.53 million vehicles in May, the eighth consecutive monthly fall. Even EV sales fell (-5%). In Germany, they posted some negative factory order data for April. They were down -3.8% on an inflation adjusted basis from the previous month, but that came after a +4.5% rise on the same basis for March. From a year ago, also in real terms, German factory orders were up +1.6% in April. And factory sales didn't decline in April either. In the Persian Gulf, to cross the Strait of Hormuz, the transit trickle is still low but not zero. Only ten ships crossed in the past 24 hours. It has now been 100 days since the crisis began and it seems Iran is successfully tolling the Strait, according to maritime sources. The UST 10yr yield is now just on 4.55%, up just +1 bp for the day.  The price of gold will start today up +US$5 from yesterday at US$4333/oz. Silver is up +US$1 at just under US$68.50/oz. Oil prices are up +50 USc from yesterday at just on US$91/bbl in the US, while the international Brent price is now just on US$94/bbl and up +US$1. Hormuz transits are still very low despite the pricing optimism. The Kiwi dollar is up +10 bps from this time yesterday at this time at just over 58.1 USc. Against the Aussie we are up +20 bps at 82.5 AUc. Against the euro we are also up +10 bps at just on 50.4 euro cents. That all means our TWI-5 starts today at just on 61.8 which is up +20 bps from yesterday. The bitcoin price starts today at just on US$63,416 and up +1.9% from this time yesterday. Volatility over the past 24 hours has been moderate at just over +/- 2.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news US benchmark interest rates rose notably after their apparently strong labour market report. But first, locally this week it will be about migration and travel data for April, possibly plus the May PMIs. In Australia, we will be watching for the April building permit data, along with updates for May for their consumer and business confidence surveys. In the US, they will release its consumer and producer inflation figures, the final price gauges before this month's Federal Reserve decision at the end of next week, in addition to existing home sales and their trade balance. Likewise, trade data and inflation data is coming from China as well as new yuan lending data. Trade data from Taiwan will drop this week too. And at the end of the week we will get central bank decisions from Canada and the ECB. On the corporate front, SpaceX will release what is likely to be the largest IPO on record. Over the weekend, China said its foreign exchange reserves swelled again and are now at US$3.44 tln and their highest since October 2015. They added a bit more gold but its value eased in the past month, so this wasn't a factor in the expanding reserves. Also, there was data out for Taiwanese inflation (firmish but low at 2.2%), Singapore retail (doing better with a +5.4% rise from a year ago), and an Indian central bank policy rate review (holding at 5.25%). None of these moved markets. Meanwhile, India said its Q1-2026 economic expansion rolled on with a better growth rate (+7.8%) than markets were expecting (+7.2%). In the US, the anticipated non-farm payrolls report delivered a strong result over the weekend, with a +172,000 jobs gain at the headline level and more than double the expected +82,000 gain. From a year ago, that is a rise of +503,000. But this data is the seasonally adjusted result from payroll employment. Looking more broadly, US civilian employment rose +149,000 in May from April but is -504,000 lower than year-ago levels. It is clearly very tough indeed for the unincorporated self employed. Of the headline jobs gain, +70,000 were in their hospitality sector (expecting a soccer World Cup boost?), local government added +55,000 jobs, healthcare +35,000, social assistance +17,000. There we no changes or declines in the manufacturing, IT and administration sectors, and little in the construction sector. Basically, lower paid jobs rose, higher paid ones shrank. The US no longer releases details of full-time, part-time job changes or detail. Total American consumer debt rose by +US$21 in May, following a downwardly revised +US$22 bln gain in April. This was slightly more than expected. Revolving credit, which includes credit card debt, rose +US$14 bln while nonrevolving credit, which includes vehicle and student loans, rose +US$8 bln in the month. This data shows sustained consumer demand for debt despite elevated borrowing costs and the rising interest-rate environment. And that, along with the gritty labour market questions, has driven a pullback in attitudes, to a more risk-off, defensive posture at the end of last week. More investors see the US Fed pushing ahead with rate hikes earlier than anticipated to try and not be blindsided from rising inflation getting embedded. After all, the Strait of Hormuz remains shut, and oil prices have ended the week higher than where they started. In turn that risk-off has driven US benchmark interest rates up, equity markets lower, and the US currency very much higher, Canada also released its May jobs data over the weekend and that was better than expected too. They added +88,000 jobs when a gain of only +10,000 was anticipated. Better, their full-time jobs grew +154,000 in the month, as part-time jobs shrank. Their jobless rates fell notably to 6.6%, from 6.9% in April and continuing the downward trend that started in October 2025. A stronger jobs market may also give the Bank of Canada cover to raise rates to get ahead of their inflation threats, too. In the EU, Ireland has had a stunning reversal of fortune, with their economy contracting more than -12% in Q1-2026. It alone was enough to twist the overall EU GDP lower. Ireland's multinational-dominated sectors contracted by -27% in Q1-2026 with their domestic sectors expanding by +0.4% and more in line with the other EU countries. The UST 10yr yield is now just on 4.54%, unchanged from this time Saturday but up +11 bps for the week.  The price of gold will start today up +US$4 from Saturday at US$4328/oz. That is down -US$227/oz (or -5.1%) from this time last week and about its lowest level of the year. Silver is down -50 USc at just under US$67.50/oz, down -10% for the week. Oil prices are little-changed from Saturday just on US$90.50/bbl in the US, while the international Brent price is now just on US$93/bbl. Hormuz transits are still very low despite the pricing optimism. A week ago these prices were US$87.50/bbl and US$91.50/bbl. The Kiwi dollar has stayed down from Saturday at this time at just under 58 USc. From a week ago it is down -190 bps. Against the Aussie we are unchanged at 82.3 AUc. Against the euro we are also unchanged at just on 50.3 euro cents. That all means our TWI-5 starts today at just under 61.6 which is down -10 bps from Saturday, down -170 bps for the week. The bitcoin price starts today at just on US$62,246 and recovering +3.4% from this time Saturday and still falling. Volatility over the past 24 hours has been moderate at just over +/- 2.1%.  You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Nevena and Paul are joined live on air by Cameron McTernan, Lecturer & Researcher at Adelaide University; as they discuss the  implications of Gina Rinehart – Australia's richest person – buying into Southern Cross Austerio Cameron is a researcher and educator at Adelaide University specialising in social media, political communication and media industries. He is currently an: Executive Committee member for the Australian and Aotearoa-New Zealand Communication Association Researcher for The Global Media and Internet Concentration Project (Australian and Aotearoa-New Zealand teams) Areas of interest and research include Media Diversity and Pluralism in Australia, Political Communication, Social Media and Streaming Services. Teaching areas include Communication and Social Media. Current teaching profile for 2026 is: MDIA 2021    Research Methods in Media and Communication MDIA 2101    Creating Content for Media MDIA 1017    Social Media Audiences and Algorithmic Cultures Read his book: Social Media in Society (Palgrave Macmillan) https://orcid.org/0000-0003-2025-1029 The post Sat, 6th June, 2026: Cameron McTernan, Lecturer & Researcher at Adelaide University; Implications of Gina Rinehart – Australia's richest person – buying into Southern Cross Austerio appeared first on Saturday Magazine.

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with Hezbollah has rejected being part of a US-Iran accommodation, and Israel is continuing to attack it in Beirut and southern Lebanon. Despite this, markets still hope that a ceasefire can be agreed and the Strait of Hormuz opened. They are pricing it will, but it is shut still today. Elsewhere and in the US, there were 97,000 announced job cuts in May, the most since January and the highest May since 2020 and the pandemic effect - and prior to that the highest since this tracking began in 1999. Most of the current layoffs are in the tech industry, and due to AI displacement. Markets await the May non-farm payrolls report tomorrow and the expectation is for a modest +85,000 net jobs gain. This is despite the private ADP report indicating a higher level. US initial jobless claims were little-changed last week at 188,000 although seasonal factors would have expected a solid -10,000 fall from that level. There are now 1.64 mln people on these benefits. lower than year ago levels. And staying in the US, they have found the flesh-eating screwworm in their Texas cattle herd, another reason their beef industry is unlikely to be able to sustain its output. The EU said its retail sales volume growth was weak in April, up +0.9%, up +1.0% in the euro area from a year ago. From the prior month, these volumes dipped. But this dip actually doesn't interrupt the rising trend in place since late 2023 We are ending the week with the price of some key commodities like copper, tin and aluminium hold just off their recent peaks. China is facing broad pushback at the level of subsidising it gives its steel industry. The OECD singled them out for criticism urging coordinated action against them to save capability around the world. A new round of defensive trade barriers will likely follow. Chinese over-capacity is enabled by these subsidies and it drives down prices everywhere as Chinese companies rush to quit stocks they can't sell at home. The geopolitical toll on the logistics industry is starting to bite. Global container freight rates surged +23% this week from the prior week to be up basically level with year-ago levels (which were unusually high due to the Houthi attacks in the Red Sea). Most of this is due to the hikes in rates for the outbound China trade routes. Meanwhile bulk cargo freight rates eased back a minor -3% after their recent peak last week. In Australia, AI is being put to use driving legal claims by amateurs. Courts are being flooded with AI written plaintiff claims, especially for personal injury, unfair dismissal, rent disputes, and 'pain & suffering' claims. New powers are being rushed through the Canberra parliament to try and stem the flood. The UST 10yr yield is now just on 4.47%, down -2 bps from this time yesterday. The price of gold will start today up +US$41 at US$4478/oz. Silver is up +50 USc at just under US$74/oz. Oil prices are down -US$4 just over US$92/bbl in the US, while the international Brent price is now just over US$94.50/bbl and down -US$3.50. Hormuz remains shut however despite the pricing optimism. The Kiwi dollar is firmer from yesterday at this time at 58.8 USc, up +20 bps. Against the Aussie we are up +10 bps at 82.3 AUc. Against the euro we are unchanged at just under 50.6 euro cents. That all means our TWI-5 starts today at just under 62.3 which is up +10 bps from yesterday. The bitcoin price starts today at just on US$63,013 and down another -4.3% from this time yesterday and still falling. Volatility over the past 24 hours has been high at just under +/- 3.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday.

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news intensified clashes in the Persian Gulf has oil prices rising, little transit activity in the Strait of Hormuz, and significant disconnect from Trump's claim that both sides are still negotiating. Clearly they aren't, In the world economy, and first in the US, mortgage applications fell again last week, a third consecutive weekly easing mostly driven by lower refinance activity. Mortgage interest rates eased back however even if they remain at close to one year highs. Ahead of this weekend's US non-farm payrolls report (expect +85,000), private businesses added +122,000 jobs in May according to the ADP survey, a new high since January 2025, compared to a downwardly revised +105,000 in April and above forecasts of +117,000. Hiring was broad-based they report and say it augers well going into the summer hiring season. But this isn't backed up by the US services PMIs for the US. The May ISM services PMI reported a good expansion, about the average it has been in 2026 and slightly higher than expected. Good new order flows are behind the result. But the same firms reported contracting staffing levels and faster input cost pressures. The parallel S&P Global services PMI was less upbeat, noting a muted increase in business activity, optimism faltering and employment falling solidly. Overall, it is a jobless expansion, these PMIs both say. US factory orders are reflecting some of the stockpiling effects we have noted earlier. In April these orders rose +13.0% in nominal dollar terms above year-ago levels. But without aircraft and defense orders, they were up +5.8% - still a good result but mostly accounted for by inflation. And remember PPI rose +6.0% in the same twelve month period. American crude oil stocks fell again, for the sixth consecutive week and the largest fall in this period. Over the past year, it has fallen more only in three specific weeks but each of those were not in a continuing series. Their strategic oil stocks are now at their lowest in 22 years. The US Fed's Beige Book surveys for May reported most of the 12 Federal Reserve Districts had slight-to-modest increases in growth, though a handful experienced flat or slightly declining activity. Labour markets remained tight but were cooling. Business respondents said rising input costs for nonlabour inputs were largely able to be passed on to consumers. Consumer spending was described as mixed, heavily influenced by affordability concerns and shifts in discretionary income. In Canada key housing markets in Ontario, new listings have fallen, as have prices, and more homes are selling but also, more are selling at a loss. In Japan, their central bank will meet next in a bit over a week and their Governor has indicated that rate hikes will be discussed to weigh against rising inflation, even that pushed by higher energy costs. According to the private S&P Global (RatingDog) services PMI for China, that sector is expanding on a faster basis, much stronger than as reported by their official data. New business is expanding and they are hiring faster. But they also face their highest cost pressure since October 2023. Meanwhile, Australia released its Q1-2026 GDP data today, saying their economy expanded +2.5% in real terms over the past year. But the growth rate slowed in the March quarter from the December 2025 quarter. Rising interest rates and significantly higher fuel costs in the March month likely created an environment for more cautious consumer behaviour. This resulted in reduced spending across a range of household expenditure categories. And exports fell. The unders and overs likely balanced out but the level of spending on equipment for new data centers was so large it might have accounted for all the Q1 gain. The UST 10yr yield is now just on 4.49%, up +3 bps from this time yesterday.  The price of gold will start today down -US$45 at US$4437/oz. Silver is down -US$1.50 at just under US$73.50/oz. Oil prices are up another +US$2.50 just over US$96/bbl in the US, while the international Brent price is now just over US$98/bbl and up +US$2. Hormuz remains shut. The Kiwi dollar is lower from yesterday at this time at 58.6 USc, down -60 bps. Against the Aussie we are down -30 bps at 82.2 AUc. Against the euro we are down -40 bps at just under 50.6 euro cents. That all means our TWI-5 starts today at just under 62.2 which is down -50 bps from yesterday. The bitcoin price starts today at just on US$65,847 and down another -2.4% from this time yesterday and still falling. Volatility over the past 24 hours has been modest however at just under +/- 1.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

World Parrot Day - Dunedin Wildlife Hospital GM Suzanne Stephenson reflects on World Parrot Day and the very special parrots that are unique to Aotearoa New Zealand. This show was broadcast on OAR 105.4FM Dunedin - oar.org.nz

What practical steps can Aotearoa New Zealand take to strengthen its energy security while creating jobs and reducing environmental impacts?  In this episode of Scigest, host and scientist Darryl Herron talks with Paul Bennett, Integrated Bioenergy Portfolio Lead at the Bioeconomy Science Institute Maiangi Taiao, about the opportunities for locally produced bioenergy and biofuels. Drawing on New Zealand's existing woody biomass resources, the team is exploring how scalable bioenergy solutions could help reduce the country's long-term fuel insecurity, support regional economic growth, and contribute to a more sustainable future.  Tune in to learn how science is helping unlock New Zealand's bioeconomy potential and what it could mean for our energy future. To view our full catalogue of podcasts including extra links on some podcasts please go to our Scigest pages: www.plantandfood.com/scigest

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of a changing of the guard. Countries are moving away from US Treasuries as a core reserve asset, replacing it with gold. At the same time, crypto values including for bitcoin, seem to be fading fast. But first up today, there was a full dairy auction overnight, one that brought slightly lower overall prices, with the USD index falling -0.6% mainly on -3% lower SMP prices. Milk fat products like AMF. Butter and Cheddar all rose, offsetting the fall in powder prices. But the NZD has also strengthened, so the result in NZD terms was a -2.0% fall. A pull-back in demand from China is part of this story too. In the US, they reported a surge in April job openings, their most in 18 months, notably in California and other western states. It is a services related thing, with manufacturing jobs not really participating. Meanwhile, the US RCM/TIPP economic sentiment survey fell slightly in June from may, but to its lowest in two years. And the US Logistics Managers Index is showing the full impacts of the current supply-chain disruptions and stockpiling. It held in May at its highest since the pandemic stress period. It is increasing at an increasing rate for inventory costs, warehousing capacity, and freight prices. In China, we should note that it is wheat harvest season and that they expect a bumper result. At the same time, both Australian and US farmers are hesitating in their plans for wheat as high fertiliser and fuel costs threaten to make the prospects very uncertain. In the EU and as expected, CPI inflation firmed up to 3.2% in May from 3.0% in April. Their core inflation rose as well. It seems to be only about rising fuel costs at present with the spread wider quite limited. Will the ECB hike its policy rate on June 11? Markets are betting 100% it will. In Australia, they have slipped into their first trade deficit since 2017 in the March 2026 quarter. Exports of minerals fell (except for gold) while imports of data center equipment surged. Globally, it is worth noting again that aluminium, zinc, copper and tin are all now either at record highs or at post-pandemic highs. The UST 10yr yield is now just on 4.46%, down -1 bp from this time yesterday.  The price of gold will start today down -US$9 at US$4482/oz. Silver is down -50 USc at just over US$75/oz. Interestingly, an ECB analysis released overnight has highlighted that after the run-up in the gold price, at the same time as the value of US Treasuries fell, gold was the largest single asset held for 'foreign reserves'. (see Chart 7) Oil prices are up another +US$2 just under US$93.50/bbl in the US, while the international Brent price is now on US$96/bbl and up +US$1.50. Hormuz remains shut. The Kiwi dollar is lower from yesterday at this time at 59.2 USc, down -30 bps. Against the Aussie we are also down -40 bps at 82.5 AUc. Against the euro we are down -10 bps at just under 51 euro cents. That all means our TWI-5 starts today at just over 62.7 which is down -20 bps from yesterday. The bitcoin price starts today at just on US$67,464 and down a sharp -5.9% from this time yesterday and falling. Crypto funds are getting excess redemptions at present. Volatility over the past 24 hours has been high at just under +/- 3.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Chris plays a selection of mainly deep cuts from his personal vaults to kick off winter. The best and freshest of Kiwi music — 100% tunes from Aotearoa New Zealand, thanks to NZ On Air Music!

Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the scale of Trump's strategic failure with Iran is becoming clearer. Iran holds the key cards, it seems, and there is little but bluster and renewing its military flailing he can do about it. Even Israel seem to be ignoring Trump's potency, which is another signal of regional chaos. Iranian media reported that Tehran had suspended communications with Washington, following the attacks in Lebanon, and will move to fully close the Strait of Hormuz - and open new fronts in their war pushback. We are just going to have to live with the resulting chronic mess. And that probably means elevated inflation for much longer and all that brings with it - like supply chain disruptions and logistic twists. Stockpiling, itself an indication of economic inefficiency, is the current way the global economy is reacting, in turn an inflation enhancer. First today in the US, that stockpiling is showing up in their two May factory PMI reports. The S&P Global version recorded output growth rose to its strongest level since April 2022 as buyers scramble to beat price rises and supply delays. Input costs rose at their fastest rate since mid-2022. Meanwhile the ISM version reported very similar conditions, even if at a slightly lesser level. In Canada, their factory PMI version reported that growth was sustained in May as output, new orders and employment all rose. But like in the US, this is all trying to beat the cost pressures and supply chain challenges that are intensifying. In Japan, their May factory PMI remained unusually strong. But firms there signaled further strong increases in production with sales Input costs and selling prices rising at some of the steepest rates on record. Stock building efforts are still very much in evidence amid the ongoing and substantial supply chain disruptions. In South Korea, their factory upturn, already strong, gathered more pace amid stockpiling efforts. Output rises are their strongest in five years. Price pressures persist and remain near record highs. Meanwhile jobs growth is now at its highest since March 2013 as the outlook improves. Meanwhile Korean exports surged +53% from a year ago to a record US$88 bln for the month. (For perspective, New Zealand exports run at about US$6 bln per month average. Australia is about US$32 bln/mth.) Their biggest increases were to China, although there were outsized export gains to the US. Their explosive growth is largely around their IT sector. In Taiwan, their factory output expanded at quickest rate since July 2021 in May. New orders continue to rise sharply. Firms report intense cost pressures here too, amid severe supply chain disruption. Stockpiling efforts are driving a quicker upturn in purchasing activity, they say. In China, their non-official S&P Global factory PMI was good, but nothing like their smaller neighbours. Growth rates for new orders and output remain good, although export orders fell. Input price inflation eased for first time in six months. They also have stockpiling effects as factories raised input stocks because supplier delivery times stretched out again. Indian industrial production stayed expanding in April and at a good rate, similar to what they have had since July 2025, and showing none of the slowdown analysts had been expecting to see in their data. EU inflation expectations as tracked by the broad ECB survey shows them unchanged at 4.0% in April. Analysts had expected them to rise to 4.3% but that didn't eventuate. The EU factory PMI is still expanding but at quite a modest rate even as they have the same cost pressures everyone else is reporting. In Australia, and in something of a surprise, the Melbourne Institute Monthly Inflation Gauge recorded a -0.3% fall in May from April, after consecutive rises in the previous two months. The fall was primarily influenced by lower transport-related prices, attributable largely to fuel and the excise tax rollback. For the year to May this gauge reports inflation at 4.4%. The monthly cost of living also declined in May from April, particularly for self-funded retirees. The updated Australian PMI shows little real expansion with the steepest fall in new orders since last October being recorded for May. But prices are being pushed up all the same with selling price inflation at a 45-month high as sharp rises in input costs keep coming. The UST 10yr yield is now just on 4.47%, up +2 bps from this time yesterday.  Wall Street has started its week ignoring the Middle East situation with the S&P500 up +0.4% and enough to claim another new record high. The Nasdaq is up +0.7%. Both markets consumed by the big tech IPOs underway.  The price of gold will start today down -US$48 at US$4491/oz. Silver is up +50 USc at just under US$75.50/oz. Oil prices are up +US$4 just under US$91.50/bbl in the US, while the international Brent price is now on US$94.50/bbl and up +US$3.50. Oil had been starting to trade like Hormuz was open, but no more. The Kiwi dollar is lower from yesterday at this time at 59.5 USc, down -50 bps. Against the Aussie we are also down -50 bps at 82.9 AUc. Against the euro we are down -30 bps at just under 51.1 euro cents. That all means our TWI-5 starts today at just over 62.9 which is down -40 bps from yesterday. The bitcoin price starts today at US$71.684 and down -2.5% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the US and Iran have apparently agreed a 60 day truce, pending Trump's signoff. All the while, both sides traded attacks in the region. The small number of ships transiting the Strait of Hormuz has virtually dried up. Meanwhile, US jobless claims slipped last week to 185,600 and by about what seasonal factors would have indicated. There are now 1.68 mln people on these benefits, less than one and two years ago. There was a sharp drop in new home sales reported for April, and they were -11.3% lower than year ago levels. Rising mortgage rates is weighing heavily on this sector. But they reported a sharp increase in durable goods orders in April, up +19% from a year ago, up notably from March. This is where we see the full effect of stockpiling as buyers try to get ahead of rising inflation. One reason was a +41% jump in capital goods on the same basis. But excluding defense and aircraft orders, the increase was modest. The second estimate of GDP growth for Q1-2026 is out and it was revised lower, mainly on lower consumer spending and investment levels than in the initial estimate. They now say the US economy expanded +1.6% in the period. They also released the April data for US personal income and personal spending. This showed that personal disposable income fell from March, up +2.5% from a year ago, while personal consumption expenditures rose, up +5.9% from a year ago. In fact, their April PCE inflation measure rose to 3.8%, its highest since May 2023 and the end of the pandemic effect, and prior to that the highest since this data was collated in 2017. Undoubtedly, this has the Fed's attention, especially the accelerating nature of it. US crude oil and petrol stocks fell again last week, but 'only' by about the levels expected. that extends the fall to five consecutive weeks, all substantial, and coming after three prior weeks of modest or no-change outcomes. Retail pump prices for petrol are still +48% higher than at the start of the Iran-US conflict and closure of the Strait of Hormuz. There was a US Treasury 7yr note auction overnight and the yield increase was not as fierce as yesterday's event. This one delivered a median yield of 4.24% (high 4.29%), up from the 4.12% at the prior equivalent event a month ago. In Canada, their central bank has released and updated Financial Stability Report which found that Canada's financial system has functioned well through a challenging year. Households and businesses remain in stable financial condition, and banks have strengthened their capacity to absorb shocks. Meanwhile they reported that average weekly earnings rose +3.5% in March from a year ago, a faster pace of increase. They have CPI inflation of +2.8% at the same time so Canadian employees are generally staying ahead of the cost pressures. The Korean central bank kept its official rate unchanged yesterday at 2.5%, as expected. Updated Australian household spending data for April shows it fell -1.1% month-on-month (on a current price, seasonally adjusted basis) to be +4.9% higher than in April 2025. In the same period CPI inflation rose 4.2%. The weak outcome is being attributed to the sharp hike in fuel costs, and compensating pullbacks elsewhere. It is their first fall in household spending in four months. And staying in Australia, they said private new capital expenditure rose +6.5% in the March quarter to be +14.6% higher than the March 2025 quarter. This strong growth is largely on the back of significant investment in data centers, up +96% and a new record high. Investment in mining was flat. The Middle East war lead to a -3.4% fall in air passenger demand in April. But Asia/Pacific international demand rose +3.0% from a year ago. For air cargo, demand was up +4.0% despite the turmoil, up +11.3% in the Asia/Pacific region. Global container shipping freight rates rose +3.2% last week from the prior week to be +12% higher than year-ago levels. This is largely driven by rates from China to the EU. Transpacific rates from China to the US West Coast actually fell last week. As did trade volumes. Meanwhile bulk cargo rates rose +4.4% last week, to be a massive +140% higher than a year ago. The UST 10yr yield is now just on 4.45%, down -3 bps from this time yesterday. The price of gold will start today up +US$57 at US$4506/oz. Silver is back up +US$1.50 at just under US$76/oz. Oil prices have fallen -50 USc to just on US$89/bbl in the US, while the international Brent price is now at US$93.50/bbl and down -US$1.50/bbl. The Kiwi dollar is up +40 bps from yesterday at this time at 59.3 USc. Against the Aussie we are up +20 bps at 82.8 AUc. Against the euro we are also up +20 bps at just under 50.9 euro cents. That all means our TWI-5 starts today at just under 62.8 which is up +40 bps from yesterday. The bitcoin price starts today at US$73,455 and down -1.8% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and because Monday is a New Zealand holiday, we'll do this again on Tuesday.

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news commodity markets are betting all-in that a deal between the US and Iran will unlock the Strait of Hormuz soon. An Iranian State TV report has triggered the optimism. (And even though the US has denied it.) More ships are transiting, but it is still only a fraction of 'normal'. However it is enough to drive the price of crude oil lower. But despite all that, financial markets seem to remain unconvinced, or at least they have turned defensive due to what lies ahead of a resolution. How well any deal will stick between the two parties who have become quite transactional remains to be seen. Certainly the US is unlikely to be trusted to maintain the deal by both Iran, and even its own traditional allies. Iran will be Iran, agreeing but preparing for another attack/fight. The one thing the US/Israeli thing has done is solidify the Iranian regime's position at home. It no longer has internal dissent or street challenges, and it will thank Trump for that. In the US, mortgage applications fell sharply last week, as US 30 year mortgage rates rose. Most of the fall is from the outsized retreat in refinance activity (-18%), although new purchase activity did dip as well. Those mortgage rates rose to their highest level since August 2025. Meanwhile, the ADP tracking of private payrolls showed the good levels continued last week, even if there was a small dip posted. And that is supported by factory survey data out from the Richmond Fed for the mid-Atlantic states area. New order levels rose notable. And firms expected growth in prices paid to moderate slightly over the next 12 months. But there was no improvement in the forward expectations, despite these improvements. Meanwhile the Dallas Fed services sector survey remained quite negative, even if less so in May than in April. But their uncertainty metric is notably less. There was a US Treasury 5yr Note auction overnight and that delivered a yield of 4.13% (4.18% high), up sharply from the 3.90% yield at the prior equivalent event a month ago. In Australia, consumer price inflation came in lower than most analysts were expecting for Aril. It rose 4.2% from a year ago, lower than the March 4.6%, and lower than the expected 4.4%. From March, CPI prices rose +0.4%, also lower in the same way. A key reason is that fuel prices fell -7.0% from March to April, after rising 33% in the previous month. The fall this month includes the halving of the fuel excise on 1 April. Fuel prices are still +23.5% higher than in February and before the impact of the Middle East conflict. Apart from fuel, outsized rises were recorded for 'housing' (+6.3%) and 'clothing' (+5.9%). The main contributors to the annual housing rise were Electricity (+22.5%), New dwellings (+4.7%) and Rents (+3.5%). And staying in Australia, Westpac has been hit with a AU$26 mln civil penalty for not dealing with clients who were struggling financially in a proper way. Remediation of all costs to those clients was AU$1.7 mln. The UST 10yr yield is now just on 4.48%, down -1 bp from this time yesterday. The price of gold will start today down another -US$49 at US$4450/oz. Silver is down -US$1.50 at just under US$74.50/oz. Oil prices have fallen -US$4.50 to just on US$89.50/bbl in the US, while the international Brent price is now at US$95/bbl. The Kiwi dollar is up +60 bps from yesterday at this time at 58.9 USc. Against the Aussie we are up +110 bps at 82.6 AUc. Against the euro we are up +50 bps at just under 50.7 euro cents. That all means our TWI-5 starts today at just under 62.4 which is up +60 bps from yesterday. The bitcoin price starts today at US$74,765 and down -1.5% from this time yesterday. Volatility over the past 24 hours has been modest at just on +/- 1.0%. Join us later today for full coverage of the 2026 Budget release, an election budget of course. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

In this episode of the Elevate Podcast, Andrew Eagles, CEO of the New Zealand Green Building Council, joins the conversation to unpack how healthier, more energy-efficient homes can create major financial advantages for both developers and homeowners. From lower-interest development finance to green mortgage offers, Andrew explains how Homestar certification is helping builders access funding benefits while delivering warmer, drier, and more comfortable homes. Andrew shares practical insights into the Homestar process, common misconceptions around cost, and why many developments can achieve certification with only minor design changes. He also discusses the future of building standards in New Zealand, the growing influence of global green finance, and why energy performance ratings are likely to become a key part of every home sale. Packed with real-world examples, this episode is essential listening for builders, developers, and anyone interested in the future of residential construction in Aotearoa New Zealand.Useful links:The New Zealand Green Building Council (NZGBC) Homestar™Free Homestar Design GuideInfometrics researchWhere else you can find usWebsite: https://www.masterbuilder.org.nz/Elevate Platform: http://elevate.masterbuilder.org.nzInstagram: https://www.instagram.com/masterbuildernz/Facebook: https://www.facebook.com/registeredmasterbuildersYouTube: https://www.youtube.com/channel/UCmh_9vl0pFf0zSB6N7RrVeg

Recorded live at the PCOA25 Conference in Christchurch, this episode of The Conference Collective features inclusion strategist Joe Consedine.Joe shares his journey from traditional corporate leadership into diversity, equity and inclusion, and why he believes inclusion is not a moral add-on but a commercial imperative. From demographic change and future talent pipelines to psychological safety and innovation, this conversation explores how organisations can remain relevant in a rapidly shifting world.Libbie and Joe unpack practical ways to move beyond performative DEI, open up safe dialogue across generations, rethink recruitment from “culture fit” to “culture add,” and design events and workplaces that amplify diverse voices.About Joe Consedine Joe is one of Aotearoa New Zealand's leading voices on inclusion. A highly engaging and in-demand speaker and consultant to a range of organisations and industries in New Zealand and globally, Joe has a unique ability to unite audiences around why inclusion is such a critical capability for individuals and organisations to adopt to survive and thrive in a diverse and complex future of work.Joe is a former Director of Champions for Change with Global Women where he worked with New Zealand's leading 80 Chief Executives and Board Chairs on scaled Diversity Equity and Inclusion strategies for Aotearoa, New Zealand. Joe's LinkedIn: https://www.linkedin.com/in/joeconsedinenz/About The PCOA:The PCO Association is the leading body representing the interests of Professional Conference Organisers and Event Managers in Australia and New Zealand.The Association's objectives are to increase the standard of professionalism of its members and promote a better understanding of the roles, functions and contributions of Professional Conference Organisers and Event Managers and other practitioners in the conference and event sector.Website: www.pco.asn.auAbout Connected Event Group:Connected Event Group delivers innovative audio-visual services, event production, and digital experiences that help people and businesses connect in meaningful ways. With over two decades of experience, the team specialises in AV equipment and services, technical event production management, broadcasting, and interactive event technology across a wide range of industries.In 2026, Connected Event Group expanded its offering with the launch of Connected Apps, a dedicated branch focused on custom event apps, business platforms, fast websites, and AI-powered automation. Designed for live environments, these solutions bridge the gap between creative vision and real-world delivery, ensuring technology performs on site, on the day.Website: www.connectedeventgroup.comAbout Libbie Ray:Libbie Ray is the Director of Connected Event Group and Founder of Connected Apps. With 20 years of experience spanning marketing, events, technology, and broadcast production, Libbie brings a holistic and forward-thinking perspective to the evolving events landscape. A strong advocate for innovation, Libbie is particularly passionate about the role of digital platforms and AI in shaping the future of live and hybrid events. Libbie's LinkedIn: https://www.linkedin.com/in/libbie-ray/Send us Fan Mail

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news  traders who claimed to foresee a Trump 'victory' over Iran are getting a lesson in their susceptibility to propaganda. In the Middle East, US and Israeli struck a number of Iranian vessels in the Strait of Hormuz, hours after President Donald Trump had suggested negotiations with Tehran over an interim deal were progressing. Renewed aggression there and in Lebanon hardly seems to indicate talks are "going nicely". Both sides are in a chronic violent embrace, despite what they say. Oil prices are rising again; prospects for normalisation have faded significantly. First we should note there was another dairy Pulse auction overnight. This on saw the butter price recover notably, up +2% from the prior week's full auction, and the SMP price fall back notably, down -5% on that same basis. The WMP price dipped -1%. In the US, the Conference Board said its survey of consumer confidence edged down in May. But this dip wasn't quite as much as analysts had expected. Meanwhile the May Dallas Fed factory survey edged up slightly from its languid ("stable") state, a bit less than other similar surveys and less than expected. And the National Activity Index tracked by the Chicago Fed rose in April to its best reading since March 2025. The US Treasury's popular 2 year bond auction today brought sharply higher yields. The median yield today was 4.02% (high was 4.07%), a big shift up from the median 3.75% at the equivalent event a month ago. Across the Pacific, Singapore said its industrial production was up a very healthy +17.6% in April from a year ago, a rising trend and an expansion that is starting to rival Taiwan. And in Taiwan industrial production rose at a +15% rate in April from the same month a year ago, less than in March but still the third-best month ever. The base has been rising spectacularly for more than a year now so the outsized yeay-on-year growth will ease back from here. Their retail sales were up +5.2% in April, extending the outsized improvements to three consecutive months now. In Malaysia, it appears that they have instituted a 10% tariff on imported gold bars, surprising dealers and buyers alike. We should note that the aluminium price pushed up yet again, now very close to the brief pandemic-induced peak. Also tin prices are also near record highs, but this is nothing to do with the Middle East. Rather it relates to an Indonesian crackdown on illegal tin mining there, which has been extensive. They are going after the palm oil industry too, but over financial issues. The UST 10yr yield is now just on 4.49%, up +2 bps from this time yesterday. The price of gold will start today down -US$64 at US$4499/oz. Silver is down -US$2at just under US$76/oz. Oil prices have risen +US$3.50 to just under US$94/bbl in the US, while the international Brent price is up +US$3 to just on US$99.50/bbl. The Kiwi dollar is down -40 bps from yesterday at this time at 58.3 USc. Against the Aussie we are also down -40 bps at 81.5 AUc. Against the euro we are down -30 bps at just under 50.2 euro cents. That all means our TWI-5 starts today at just under 61.8 which is down -30 bps from yesterday. The bitcoin price starts today at US$75,906 and down -2.1% from this time yesterday. Volatility over the past 24 hours has been modest at just on +/- 1.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news oil prices have slid on hopes of a US-Iran deal. But despite US statements saying talks are "going nicely", Iran seems to be saying otherwise even if they are engaged in talks. But they seem to be talks-about-talks. Supposed insider information says the Strait of Hormuz will still be closed for another 60 days "for mine-clearing" (some say 30 days). And the US is adding new conditions each time the sides meet. Meanwhile, two LNG tankers have passed through the Strait in the past 24 hours. Just a reminder that the US is on a long weekend holiday and we won't be getting data updates from there until tomorrow morning from there. Pre-market activity (futures) is still active however. So first, like Japan, Singapore reported that their April CPI inflation pressure stayed very low and contained, up just +1.8% from a year ago, down -0.3% from March. Fuel costs are a small part of their index. The big mover was for clothing and that fell sharply. Singapore also said its Q1-2026 expansion was +6.0% from the same quarter a year ago, bettering the +5.7% expansion in the previous quarter, and better than forecast (+5.1%). But they are much less bullish on how the year will turn out, revising that to "2%-4%" as Trump's Gulf War takes its toll. But in Malaysia they reported a sharp jump in producer costs. Their producer prices rose +5.4% in April from a year ago, picking up from just a +1.1% rise in March. Prior to that, their PPI had fallen consistently since March 2025. This latest increase was also the most since August 2022, all driven by the mounting disruptions from the war in Iran. In China, they said foreign direct investment fell -10.3% in the first four months of 2026 compared to the same period in 2025. Things got off to a negative start, but regained some initiative in April. (April 2025 was a particularly weak base.) And global demand for yuan-denominated financing is rising, with panda and dim sum bond issuance climbing sharply in early 2026 as borrowers look to diversify away from costly US dollar funding. Panda bond issuance - yuan debt sold on the Chinese mainland by overseas institutions - topped US$13 bln in the first quarter, nearly half of last year's total. Dim sum bonds are those issued outside China, in yuan. They hit US$45 bln in the quarter, also on track to beat the 2025 level. Yuan funding comes with much lower interest rates than US dollar funding. We should probably also note that the Pope has issued an encyclical on how AI should be managed, by politicians and company managers. Like many previous Papal encyclicals, if is likely to be influential in debates about AI. The UST 10yr yield is now just on 4.47%, down -10 bps from this time yesterday.  The price of gold will start today up +US$55 at US$4563/oz. Silver is up +US$2.50at just over US$78/oz. Oil prices have fallen -US$6.50 to just on US$90.50/bbl in the US, while the international Brent price is down -US$7.50 to just on US$96.50/bbl. The Kiwi dollar is up +20 bps from yesterday at this time at 58.7 USc. Against the Aussie we are down -20 bps at 81.9 AUc. Against the euro we are up +10 bps at just under 50.5 euro cents. That all means our TWI-5 starts today at just on 62.1 which is up +10 bps from yesterday. The bitcoin price starts today at US$77,502 and up +1.2% from this time yesterday. Volatility over the past 24 hours has been modest at just on +/- 1.2%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of an apparent agreement to wind back the crisis levels in the Persian Gulf. But details are not available. One thing is clear however, the US will be in a significantly worse position than if the Obama deal with Iran had not been torn up by Trump. Follow up statements by Trump that "It isn't even fully negotiated yet" suggest things aren't quite as close as he earlier suggested. And the headline news that one "Supertanker With Iraq Crude Exits Persian Gulf as Talks Continue" highlights how little progress has actually been made. But locally this week will be dominated by two big set piece announcements. First, the RBNZ will review its monetary policy settings and while no-one expects them to change, all eyes will on how they view the current inflation pressures. Markets have a +25 bps hike priced in for July 8. Following that, the Government will deliver its election Budget. It will likely be all "jam today" but couched as 'responsible restraint'. Credit rating agencies will be interested readers, especially around the credibility of the forecasting. And on Friday, there will be the usual month-end data released for April, plus a mountain of March quarter data released. And the RBNZ's Dashboard will also drop on Friday. In Australia, we will get the April CPI data on Wednesday, and the household spending update on Thursday, both expected to be elevated. It will be a busy week in Japan where we will get industrial production, retail sales, consumer confidence, and the unemployment rate. Meanwhile, the Bank of Korea will also decide on monetary policy. Data from China will be relatively light, but we will be interested in their FDI update. We should note that this will be a long weekend holiday in the US, Memorial Day, and their unofficial start of 'summer'. For the record, tradition states that investors should "sell in May and go away" until the end of this period on their Labor Day (September 7). This 'rule' is a warning that their summer financial markets can be volatile. Wall Street will re-open on Wednesday, NZT. Data from the US this week will limited, although PCE data, and the weekly ADP Employment update will be watched closely. As will the durable goods order data. Over the weekend the University of Michigan's Consumer Sentiment Index plunged to a record low in May, revised down sharply from the earlier and preliminary report. This is the third straight monthly decline. Petrol prices are getting the blame and it's cause, the chaotic Middle East adventure. The cost of living remained the top concern in this survey, with 57% of consumers spontaneously citing high prices as eroding their personal finances. Lower-income consumers and those without college degrees posted the steepest declines, as these groups are more sensitive to rising gas and essentials costs. Critically, consumers grew increasingly worried that inflation would spread beyond fuel prices in the long term. Year-ahead inflation expectations edged up to 4.8% from 4.7%, while long-run expectations climbed to 3.9% from 3.5%. Things may not get easier, even with slightly lower oil prices. Fed governor Waller said he supports removing the "easing bias" language from the Fed's outlook, and the next change could be a hike, even if it is some way off. He followed that up with remarks that it would be "crazy" to lower rates at this time. investors are bullish that the Iran-US war will end soon, but consumers are very negative about how all this is hurting them. Profits are remaining high, insulated from the rising costs, but household living costs are making consumers very grumpy. In Canada, and for a fourth month in a row, retail sales rose in April, but largely because petrol prices are higher. And that is even after the volume of petrol sales fell. In fact, overall sales volumes are trending lower. Canadian producer prices rose a sharp +2.0% in April from March, to be an uncomfortable +11.4% higher than year-ago levels. These changes are worse than expected. Despite all the global pressure their business are under, Japanese consumers avoided the impacts in April. Their inflation edged down to 1.4% from 1.5% in March. Food prices rose the least in 18 months amid a further slowdown in rice costs. After falling sharply in April, South Korean consumer sentiment rebounded in May, although not quite back to levels it was between June 2025 and March 2026. Still, this new level is above every month from December 2021 to May 2025 and was a much stronger bounce-back than was anticipated. The UST 10yr yield is now just on 4.57%, up +2 bps from this time Saturday. The price of gold will start today down -US$6 at US$4509/oz to be down -US$42 for the week. Silver is down -50 USc at just under US$75.50/oz. Oil prices have firmed +50 USc to just on US$97/bbl in the US, while the international Brent price is up at just on US$104/bbl. The Kiwi dollar is down -10 bps from Saturday at this time at 58.5 USc and up +10 bps from a week ago. Against the Aussie we are holding at 82.1 AUc. Against the euro we are down -10 bps at just on 50.4 euro cents. That all means our TWI-5 starts today at just on 62 which is down -10 bps from Saturday, up +10 bps for the week. The bitcoin price starts today at US$76,601 and very little-changed, down just -0.1% from this time Saturday, but down -3.2% from this time last week. Volatility over the past 24 hours has been modest at just under +/- 1.4%. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news no-one knows what is going on in the Iran-US 'negotiations' - least of all Trump. Ships are transiting at trickle-pace, but they tend to be large Chinese tankers. The bottom line is essentially 'no progress'. And although the benchmark 10 year bond yields are basically holding, yields for shorter terms are catching up, so a rate flattening is underway. US jobless claims dipped last week, and by marginally more than seasonal factors would have expected. Precautionary stockpiling by manufacturers is currently driving the US factory sector. New order growth slowed slightly but is still higher than normal in May, according to the latest S&P Global PMI for the US. But factory activity has taken a step up so output is rising at its fastest pace in four years. Driving all this is the need to get ahead of surging input costs, which are spiking in dramatic fashion. But the activity surge isn't everywhere. The Philly Fed's factory survey unexpectedly contracted in May. The Kansas City Fed's survey was little-changed from a modest expansion. Both saw very little respite from elevated input costs. US housing starts dipped in April from the good March levels. They are being held up on the same drive to get ahead of expected large cost increases. Across the Pacific in Korea, they are feeling producer price inflation at disarmingly high levels. They rose +2.5% in April to be 6.9% higher than year ago levels. But factory input costs rose an average of +11.3% mainly for fuel and other oil-based inputs. And this is very interesting. After a strong rise in February, Japanese machinery orders were expected to ease back in March, and they did, and by about the expected level. However, export orders remained very strong. They are expecting the April-June quarter to just be level-pegging with the same period a year ago. But this whole machinery manufacturing sector is in an upswing phase that started in 2023 and one that gathered some real impetus from mid-2025. That Japanese factory order data is confirmed in April export data out yesterday. Japan's exports jumped almost +15% to a near-record high of ¥10.5 tln in April, accelerating from an +11.5% gain in March, the fastest pace in three months and topping market forecasts. Exports grew to China (+15.5%), the US (+9.5%), ASEAN (+19.9%), the EU (+26.9%), and India (+8.9%). The May Japanese factory PMI is still expanding quite quickly but cost pressures are surging. In India, their PMI is little changed at a healthy expansion, but they report that further expansion is being capped by this rising cost pressure. EU consumer sentiment has stayed very low in May, even if it did bounce back from the ugly April level. The EU economy is being forecasted to slow down amid rising inflation following the energy shock. The Eurozone factory PMI is still expanding, but less so, and under heavy input cost pressure too. The Australian labour market is weakening with a turn lower in April. The number of employed people fell by -19,000 in April, while the number of unemployed people rose by +33,000. Markets had expected employment to rise by +10,000. Their jobless rate is now 4.5%, the highest in seven months. (The New Zealand jobless rate was 5.3% in March 2026.) The April PMIs are out for Australia, and they show weakening business conditions. The S&P Global factory PMI slowed to a stall with the private sector getting its steepest fall in new business in over four-and-a-half years. The service sector is now in contraction after March's stall. And staying in Australia, there has been an outpouring of voices, a veritable cacophony, claiming the loss of low tax capital gains is an affront, "punishing aspiration". "stifling innovation". Since when did 'aspiration' and 'innovation' rely so heavily on discounted taxes on the gains made from this activity? Inequitable taxes on this activity is just distorting behaviour and it helps misrepresent what is being achieved. It also loads more tax on those that can't avail themselves of these distortions. They all want a "level playing field" - unless the playing field is unlevel in their favour. What we are seeing is a classic lesson for anyone designing a tax system. Make it neutral and fair to start with. Global container freight rates rose +6% last week to be +10% above year-ago levels, driven largely by outbound rates from China to the EU. Bulk freight rates fell -5.7% in the past week, easing after the prior six week run-up reaction to Trump's Gulf War. But that still leaves them +125% higher than year-ago levels. The UST 10yr yield is now just on 4.58%, up +1 bp from this time yesterday.  The price of gold will start today up +US$20 at US$4553/oz. Silver is up +US$1 at just under US$77/oz. Oil prices have dipped -50 USc to just over US$97/bbl in the US, while the international Brent price is now at just on US$103.50/bbl The Kiwi dollar is up +10 bps from yesterday at this time at 58.8 USc. Against the Aussie we are unchanged at 82.1 AUc. Against the euro we are up +10 bps at just on 50.6 euro cents. That all means our TWI-5 starts today at just under 62.3 which is up +10 bps from yesterday. The bitcoin price starts today at US$77,759 and up +0.3% from this time yesterday. Volatility over the past 24 hours has been low at just under +/- 1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday.

India's Prime Minister Narendra Modi is expected to visit Aotearoa New Zealand later this year. The expected visit follows the signing of the trade agreement between India and New Zealand last month. However, Prime Minister Modi is a controversial figure in Indian politics, largely for his religiously divisive policy and anti-Muslim speeches. Wire Host Caeden spoke to Sapna Samant, GP, storyteller, and activist, who is critical of Indian Prime Minister Modi and his supporters in the diaspora, about his expected visit.

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news there is optimism the Persian Gulf oil supply may be easing as satellite data showed three supertankers crossing the Strait. Most were Chinese. But there is still 160 tankers trapped in the Gulf as Iran now effectively controls the passage. US moves now depend on Trump's latest mood change. The latest update of US crude oil stocks showed another outsized reduction last week (-7.9 mlb barrels), and again far more than expected (-2.9 mln bbl). Petrol stocks fell too, but more modestly although that extends this decline to 14 straight weeks. US strategic reserves were reduced almost -10 mln barrels last week. And staying in the US, mortgage applications fell last week, all on new purchase applications because home loan interest rate benchmarks jumped. Refinance activity was stable however. Those rising interest rates are a market response to rising inflation. And the latest Fed minutes reveal that most Fed governors are worried too. A majority warned they would likely need to consider raising interest rates if inflation continued to run persistently above their 2% target. They wanted to drop its easing bias and signal its next move could be an interest-rate increase. This puts incoming Fed chairman Warsh in a tough spot because he was appointed to do the opposite. It looks like he won't have the votes. There was a US Treasury 20 year bond auction overnight and that brought slightly higher demand, no doubt in part because the median yield rose to 5.07% with a high of 5.12%. That is up sharply from 4.84% (4.88%) at the prior equivalent event a month ago. Across the Pacific, analysts and cottoning on to how strong Taiwan's export orders are flowing. For April they forecast a +52% rise, but it 'only' came in at +48% from year ago levels. Still these orders ran at their second highest level on record. Meanwhile, China reviewed its loan prime rates& yesterday and kept them both unchanged at record low levels. That means they actually haven't changed in a year now. In Malaysia, their exports surged on manufactured orders. They rose almost +37% to a record high, accelerating sharply from March's upwardly revised +8.4% increase and far exceeding forecasts of +9% for April. This was their best export growth result since August 2022. In Indonesia, their central bank delivered something of a surprise, hiking their policy rate +50 bps when a +25 bps rise was expected. That takes it to 5.25% and back to August 2025 levels. Driving the change was a need to strengthen the rupiah, curb imported inflation risks, and keep domestic inflation within the government's mid-point target of 2.5% (±1%). In Australia, a new labour market data series from employer tax filings shows there were 15.5 mln employee jobs in March, up +1.0% from a year ago, or +147,000 more. They were paid +6.0% more than a year ago. Obviously some of this is for the growth in the paid workforce, and that extra pay is before accounting for inflation. The UST 10yr yield is now just on 4.57%, down -10 bps from this time yesterday.  The price of gold will start today up +US$33 at US$4533/oz. Silver is up +US$1.50 at just over US$76/oz. American oil prices have fallen -US$6 to just on US$97.50/bbl, while the international Brent price is now at just over US$104.50/bbl, down -US$5.50. The Kiwi dollar is up +30 bps from yesterday at this time at 58.7 USc. Against the Aussie we are unchanged at 82.1 AUc. Against the euro we are up +20 bps at just on 50.5 euro cents. That all means our TWI-5 starts today at just on 62.2 which is up +30 bps from yesterday. The bitcoin price starts today at US$77,559 and up +1.0% from this time yesterday. Volatility over the past 24 hours has been low at just under +/- 0.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

India's Prime Minister Narendra Modi is expected to visit Aotearoa New Zealand later this year. The expected visit follows the signing of the trade agreement between India and New Zealand last month. However, Prime Minister Modi is a controversial figure in Indian politics, largely for his religiously divisive policy and anti-Muslim speeches. Wire Host Caeden spoke to Sapna Samant, GP, storyteller, and activist, who is critical of Indian Prime Minister Modi and his supporters in the diaspora, about his expected visit.

Chris welcomed into the studio Aotearoa NZ heavy metal king Chris Calavrias of Stälker and Razorwyre — who chatted about some of his favourite local tunes plus selections from his own fabled career. The best and freshest of Kiwi music — 100% tunes from Aotearoa New Zealand, thanks to NZ On Air Music!

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the bond market is dominating the news today with sharply rising long term yields as investors see no end in sight top the war inflation upon us now. The benchmark US Treasury 10 year yield is now up to its highest since the brief October 2025 spike, and before that, it highest since 2023. In those earlier peaks, there was nothing like the fundamental inflationary pressure building now. And the US Treasury 30 bond yield is now at its highest since 2007. And if it lasts, yield asset valuations are at risk, especially real estate. There is already severe valuation pressure in the commercial office market from low demand. A higher cost of money could do widespread damage to these market valuations, globally. But first today, the overnight full Global Dairy Trade auction saw prices rise +0.6% in USD terms, rise +1.55% in NZD terms. This is a stable commodity in a sea of instability elsewhere. The outcome may have been helped by the low volumes on offer, down -15% from the same auction a year ago. In the US, private employers added an average of 42,250 jobs per week in the four weeks to May 2, up from 33,000 in the prior period, according to the ADP Research. Strong hiring in healthcare is a key feature. US pending home sales rose +1.4% in April from March to be +3.2% higher than year-ago levels. But the recent modest rises are not yet enough to make back the big falls in December and the small fall in January. The sharply rising 30 year bond rates will likely affect this market going forward. In Canada and as expected, their headline CPI inflation rose 2.8% in April from 2.4% in March and the highest in two years, But this is notably lower than the expected 3.1% rate and probably takes the pressure off their central bank to raise rates. In Japan, they said their GDP came in with a +2.1% (real) annual expansion are in Q1-2026, up from the +0.8% in Q4-2025. A rise was anticipated but only to +1.7%. In China, the always excellent Bill Bishop has used AI (Claude) to compare what the Chinese think was accomplished, with what the US think. It is here. There is some overlap. But there is clearly much confusion on what was actually agreed. Basically we should expect both sides to accuse the other of reneging - and in turn, the great rivalry will just fester on. In Malaysia, their inflation came in at 1.9% in April , at the low end of their expected level and only a modest rise from March. It was their most however since July 2024. In Europe, they posted a smaller trade surplus than expected as exports underwhelmed in March and imports rose. It was a much lower surplus that they recorded a year earlier. In Australia, the Westpac-Melbourne Institute consumer sentiment survey is picking up a range of recent trends. Sentiment improved marginally despite the fuel shock, but within that more people are downbeat on their economy. The Canberra Budget didn't have a big impact though. Job loss fears are still elevated even if slightly less so. But homebuyer sentiment is down sharply to deeply pessimistic levels. And consumer house price expectations have softened even if they are still positive. A key thing to watch across the ditch is the widening sentiment gap between young and old. The ‘baby boomer' and ‘Generation X' cohorts are extremely weak (angry). Sentiment amongst ‘Millennials' is only modestly pessimistic. But ‘Generation Z' is outright positive they note. Rich people whingeing over losing their tax advantages in the latest Australian Federal Budget is becoming a feature of public discourse there, especially in the real estate sector. The UST 10yr yield is now just on 4.67%, up +8 bps from this time yesterday.  The price of gold will start today down -US$47 at US$4500/oz. Silver is down -US$2 at just over US$74.50/oz. American oil prices have fallen -US$3.50 to just on US$103.50/bbl, while the international Brent price is now at just over US$110/bbl, down only -50 USc. The Kiwi dollar is down -30 bps from yesterday at this time at 58.4 USc. Against the Aussie we are also up +10 bps at 82.1 AUc. Against the euro we are down -10 bps at just on 50.3 euro cents. That all means our TWI-5 starts today at just on 61.9 which is down -30 bps from yesterday. The bitcoin price starts today at US$76,771 and up just +0.1% from this time yesterday. Volatility over the past 24 hours has been low at just under +/- 0.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Last week, figures published by RNZ showed that Afterpay made close to $20m in late fees in Aotearoa New Zealand, in the year to December 2025. This revenue is an increase on their 2024 earnings, and comes after legislation was introduced to bring Buy Now Pay Later lending services—such as Afterpay—under similar regulation to other lenders. Prior to September of 2024, buy now pay later lenders were exempted from the Credit Contracts and Consumer Finance Act that governs other lenders. This is because, unlike other lenders such as credit card companies, buy now pay later schemes do not charge interest or any other fees—so long as the debts are repaid on time—meaning they did not meet the definition of a ‘consumer credit contract'. After September of 2024, however, they came under the act, with some exemptions, such as that they don't have to carry out the same checks as other lenders to see if a borrower can actually afford a loan. A later amendment exempted them from the prohibition on charging unreasonable fees and also exempted them from being required to ensure default fees do no more than reasonably compensate the provider for their costs. Earlier this year, Consumer New Zealand and FinCap (with support from Victoria University and funding from the Borrin Foundation) published the second stage of their report examining Buy Now Pay Later schemes in Aotearoa New Zealand, before and after these regulatory changes. So, to discuss the recently reported Afterpay late fee revenues within the wider context of what that report found, producer Theo spoke to the senior policy advisor at FinCap, Jake Lilley.

Maddie Ballard (she/her) is a writer of mixed Chinese heritage from Aotearoa New Zealand. Her debut essay collection was published as Bound: A Memoir of Making and Remaking (The Emma Press, 2024) in the UK and Patchwork: A Sewist's Diary (Tin House, 2025) in the US. She co-edits Starling, a literary journal for emerging New Zealand writers, and writes a sporadic Substack. She currently lives in Melbourne. In Patchwork, a charming and evocative sewist's diary, Maddie Ballard explores the making (and sometimes remaking) of seventeen specific garments over a period of great change in her life—from a jacket lined with the embroidered Cantonese names of her female ancestors, to a dressing gown made as a gift for a dear friend, to an eco-friendly, zero-waste dress. As the wardrobe grows, so too does Maddie. From her first off-kilter dresses and coats to perfectly fitting pants, readers follow along as she learns to navigate the world around her and how she sees herself in it—both as she is and as she hopes to be. Stitch by stitch, word by word, Maddie drafts her own patterns for ways of living. Throughout the diary, delightful illustrations bring Maddie's creations to life on the page. With a focus on the practical comfort and pleasure provided by sewing in a time of personal renewal, Patchwork: A Sewist's Diary is a warmhearted celebration of the value of craft in the modern age. This episode of Sew Organised Style podcast for SewOver50 was both video and audio produced by Maria Theoharous in her sewing room. With permission of Maddie. Sound by Kaneef on Youtube Many thanks for the ongoing monthly support of the podcast's Patreon contributors. Their paid Patreon membership enables me to create these video and audio podcasts for free. You can find Sew Organised Style podcast, spelt with an s not a z, on Apple Podcasts, Spotify, Amazon Music, YouTube, or wherever you get your podcasts And yes. If you live in Australia and decide to purchase your own Mimiquin custpm dressform, I'll be your body scanner for Mimiquins UK. Tag your makes using @sharesewover50 to be able to find your makes in chronological order on Instagram. I look forward to joining you in your sewing room next time. Stay safe everyone. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news there has been no improvement in the backdrop to the global economy. To open the new week, oil prices have risen after Trump warned that Tehran is running out of time to reach a deal he likes, while Iranian media reports indicated the two sides remain far apart in negotiations. Shipping flows through the Strait of Hormuz remains effectively shut, keeping supplies tight. In the US, the NY Fed's regional Business Leaders Survey shows that the service sector there is continuing to contract, but now at a lesser pace. Activity has been contracting there since late 2024. Inflationary pressures remained persistent, with firms reporting steep increases in input costs and still-elevated selling prices. Staying tin the US, the NAHB/Wells Fargo Housing Market Index, which measures builder confidence in the market for newly built single-family homes, rose in May from April (which was its lowest level since September 2025). They too complain about sharply elevated input costs. And we should probably note that Elon Musk has lost his case against Sam Altman and OpenAI to claim the company. The jury quickly decided Must had no case. In China, new home prices across the 70 cities they reference shrank -3.5% in April from a year earlier, following a -3.4% decline in the previous month. This is the 34th consecutive month of contraction. It is also the sharpest contraction pace since May 2025. The weakness in their property sector goes on and on. The pace of decline in their existing home market is even faster. Four a fourth month, China's electricity production fell from the previous month. But it was +2.6% higher than the same month a year ago. This is a good reference point to assess their industrial production, which they said rose +4.1% in April from a year ago. But that was the slowest they have reported for an April since 2022. Fixed asset investment fell -1.8% in April on that same basis. At the same time, they said retail sales fell -0.5% in April after a -0.1% decline in March. Chinese banks now have an average net interest margin of 1.4%, according to the latest data as at March 2026. That is news because it is a record low. (For perspective, the New Zealand industry NIM is 2.3%.) Singapore said its non-oil exports rose a fast +24.5% in April from a year ago, up sharply from the +15.3% pace in March. This was the eighth consecutive month of growth and the fastest pace in fourteen years, with electronics the growth leader. In Australia, Cotality reported that 1,939 capital city homes went to auction last week, an -11% drop from the previous week, but still tracking higher than a year ago (+8.7%) when 1,784 home auctions were held. The preliminary clearance rate rose 1.1 percentage points to 57.5%, still a soft result but with highly mixed outcomes across different cities. This was the fifth time in the past seven weeks that the early clearance rate had held below the 60% mark and the third lowest result for the year-to-date. The Aussie Budget signals may have contributed to the mood.  The UST 10yr yield is now just on 4.59%, down -1 bp from this time yesterday. The price of gold will start today up +US$8 at US$4547/oz. Silver is up +US$1 at just over US$76.50/oz. American oil prices have risen +US$1.50 to just over US$107/bbl, while the international Brent price is now at just over US$110.50/bbl. The Kiwi dollar is up +30 bps from yesterday at this time at 58.7 USc. Against the Aussie we are also up +30 bps at 82 AUc. Against the euro we are up +20 bps at just on 50.4 euro cents. That all means our TWI-5 starts today at just under 62.2 which is up +30 bps from yesterday. The bitcoin price starts today at US$76,661 and down -1.8% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.6%. It turns out Trump's investment partners are enabling Iran to access the global financial system and evade US sanctions. Iran's Nobitex has processed at least US$2.3 billion through Tron and BNB Chain, blockchain ledgers started by backers of the Trump family's World Liberty Financial. Of course there will be no Justice Department investigation. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

To honor ICOM's 80th anniversary and the 2026 International Museum Day, Girl Museum's Head Girl Ashley E Remer speaks with Aotearoa New Zealand museum leader Liz Cotton about this year's theme-- 'Museums Uniting a Divided World'. Join us for a great conversation about our work in museums and how we approach the aspirations of IMD themes.Bio: Elizabeth (Liz) Cotton is an experienced museum and gallery sector leader based in Auckland with over 25 years of experience fostering community relationships and enhancing visitor experiences in cultural institutions. She has held senior roles including Director of Museum Experience at MOTAT and Director Museum & Arts at Te Whare Taonga o Waikato, where she led significant visitor experience transformations and team development. She prioritizes building strong relationships with mana whenua, iwi, councils, and funders, integrating Te Tiriti principles throughout her work.Check out the Museum of Technology and Transport (MOTAT).And ICOM NZ.

Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news financial market sentiment deteriorated sharply at the end of trading last week as war-driven inflation is being priced in more aggressively, because it will persist longer than earlier assumptions. Markets are shifting to a much more sceptical position on Trump policies & actions given the extended track record of failures. Higher long rates tend to feed on themselves when stress (like the Iran War) is elevated. And the US Fed is in no position to cut rates; in fact markets are guessing the chances of a hike are rising. These two pressures are pushing rates up. But first in the week ahead, locally we will be following updated population data this week, producer prices, credit card data, household and business expectations survey results, and retail sales, all for March. In Australia, the key data coming is for their April labour market, along with a key consumer sentiment survey and a key inflation expectations survey. Globally, apart from watching what is or isn't going on in the Persian Gulf, we will be tracking how bond markets are reacting to the Trump turmoil, US regional surveys and PMIs, and the UofM sentiment survey update. From China, there will be a raft of key data updates this coming week. There will be key industrial data out in Japan. And there will be PMI data out for India too. Indonesia's central bank will announce its latest monetary policy decision late Wednesday night. Over the weekend, analysts have been able to assess the results from the China-US summit. Those haven't been very positive. And it says a lot that Russian president Putin is in Beijing this week. Essentially the takeaways from the Beijing summit meetings between Xi and Trump have been underwhelming. It is notable that the Chinese have made no mention of the trade claims by the US, although there will be some. And they will be hoping Trump throws Taiwan under the bus after they stroked his ego. Meanwhile, the 'negotiations' between the US and Iran seem to have stalled completely. So no resolution to the Strait of Hormuz blockades. Oil prices are settling in, even rising, on fears of a much broader energy crisis. It has now been two months since Trump said the US would provide transit insurance for the Strait of Hormuz crossing. So far it has done no deals; zero. In the US, April industrial production jumped +0.7% from March to be +1.4% higher than year ago levels, and much more than expected. But it is all "business equipment" (read: AI data centers). This will be 'good' if it generates lasting increased productivity, but the rest of their factory sector is going backwards, even with 'tariff protections'. Consumer goods manufacturing shrank in April (-0.2%) from a year ago, construction stalled in April. In the New York region, there is a scramble to stockpile ahead for fast-rising cost increases. Business activity grew strongly there in May. US stockpiling may end up giving their Q2-2025 economic activity data an unexpected boost for the quarter. In Canada, housing starts jumped an impressive +17% in April from March to an annualised 279,300 units in April from the previous month, well above market forecasts of 240,000 units. But it is just back to year-ago levels (281,800). In Japan, machine tool orders surged +45% in April from a year ago, far exceeding market expectations. It maintains the much higher level it reached in March which was an all-time record, and by quite a margin. Both domestic and foreign orders leapt the at the same pace. Japan's producer prices rose +4.9% in April from a year ago, a surge from an upwardly revised +2.9% increase in March. That is an all-time high in a record that stretches back to 1960. Markets had expected a +3% rise. The usual suspects were the cause. Indian exports rose sharply in April, and were near their record high levels in March 2022. They had very good increases in both goods and service exports. Imports rose fast too, probably related to the rising cost of oil. Overall, their trade deficit shrank slightly in the month. The Russian economy is contracting, again. It is giving all the signs it is exhausted by its war on Ukraine, and this is despite its higher oil revenues. Manpower is a serious and probably unsolvable issue now that they have suffered excessive battlefield deaths. The UST 10yr yield is now just on 4.60%, unchanged from this time Saturday. For the week this is a +24 bps jump, one of the largest one-day jumps for quite some time. The price of gold will start today down -US$15 at US$4539/oz and down -US$184 for the week. Silver is down -US$1.50 at just over US$75.50/oz, down -US$5 for the week. American oil prices have stayed up at just over US$105.50/bbl, while the international Brent price is down -50 USc at just over US$109/bbl. A week ago these prices were US$99.50/bbl and US$101/bbl respectively. The Kiwi dollar is little-changed from Saturday at this time at 58.4 USc, down -120 bps for the week. Against the Aussie we are also unchanged at 81.7 AUc. Against the euro we are down -10 bps at just under 50.2 euro cents. That all means our TWI-5 starts today at just under  61.9 which is unchanged from yesterday, down -90 bps for the week to its lowest since early April.. The bitcoin price starts today at US$78,024 and down -1.5% from this time Saturday, down -4.2% from a week ago. Volatility over the past 24 hours has been low at just under +/- 0.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

David Hill reviews Out of the Blue: Essays on Artists from Aotearoa New Zealand 1985-2021 by Christina Barton, published by Te Herenga Waka University Press.

An expert in traditional Maori weaving says the return of a centuries-old cloak to Aotearoa New Zealand has brought surprise, intrigue, and a closeness to her ancestors. Erin Johnson reports.

For the first time in almost 15 years there are more business deaths than births here in Aotearoa New Zealand. And of those business failures, the vast majority are solo business operators. We know a lot of you listening run your own businesses, so do let us know if this conversation resonates. In a new research paper "Built on Assumptions" our next guest argues that with more support these businesses could be thriving instead of failing. Sarah Davies from Sweet Spot business coaching talks to Jesse.  [picture id="4K68AJT_Sarah_Davies2_jpg" crop="16x10" layout="full"]

The U.S. Department of the Interior has announced a new task force aimed at addressing violent crime in tribal communities. The Indian Country Violent Crime Task Force was announced May 5, which is also Missing and Murdered Indigenous Peoples Awareness Day. Officials say the initiative is designed to strengthen law enforcement coordination and protect families across Indian Country. The effort will be led by the Bureau of Indian Affairs Office of Justice Services and will work with federal, tribal, and state partners to expand investigations, deploy mobile enforcement teams, and target drug trafficking and crimes against children. Interior Secretary Doug Burgum says the initiative takes what he calls a “zero-tolerance approach to violent crime” and is focused on protecting tribal communities. Assistant Secretary for Indian Affairs Billy Kirkland says the effort is also about strengthening coordination and accountability. In a statement, he says working closely with tribal communities will help improve public safety outcomes and prevent future crime. Officials say the task force will focus on solving missing persons and homicide cases, while using data to identify high-crime areas and direct resources where they are needed most. The initiative builds on earlier federal efforts, including Operation Lady Justice and the Bureau of Indian Affairs Missing and Murdered Unit, as concerns about public safety in Indian Country continue. Keystone Pipeline in Canada. (Courtesy TransCanada) A 650-mile crude oil pipeline through eastern Montana and Wyoming just cleared another hurdle on the way to construction. Montana Public Radio's Ellis Juhlin reports, President Donald Trump issued a cross-border permit for the Bridger Pipeline Expansion Project Thursday. The pipeline would move no less than half a million gallons of crude tar sands oil from Canada into the U.S. daily. Its proposed path covers some of the same area as the controversial Keystone XL Pipeline, which was terminated under President Joe Biden. The Bridger Pipeline would cross major rivers including the Missouri and the Yellowstone, prompting fears about the potential for contamination of water sources. It could also run through the Fort Peck Indian Reservation and the Assiniboine and Sioux Tribes. Tribal nations were not consulted as part of Trump's permitting decision and say a pipeline in this area could violate treaty rights. Jenny Harbine, a lawyer with the nonprofit firm EarthJustice, says pipelines like these are known to break. “Crude oil spills are extraordinarily time, consumptive and costly to clean up, and I don’t know that our local communities in Montana or our regulators are prepared for that kind of devastation.” The proposal must still go through several permitting processes at the state and federal level before construction could begin, but the pipeline is fast-tracked, and supported by Republican lawmakers in Montana. Construction could begin as early as next summer. Diehtosiida, a Sámi knowledge centre in Guovdageaidnu/Kautokeino, Norway, where the 2026 Journalism Excellence Awards ceremony will take place in September. (Photo: Illustratedjc via Wikimedia) The World Indigenous Broadcasters Network (WIBN) has announced the finalists for its 2026 Journalism Excellence Award, highlighting top Indigenous reporting from around the world. Six journalists were selected from an international field, representing media organizations in Aotearoa New Zealand, Australia, Taiwan, Sápmi, and Canada. The award recognizes excellence in storytelling, cultural integrity, and public accountability in Indigenous journalism. Entries were reviewed by an independent panel of Indigenous media leaders, who evaluated work based on reporting quality, innovation, and impact. WIBN Chair Shane Taurima says this year's finalists reflect the strength of Indigenous journalism globally, with reporting grounded in community voices and focused on issues that matter most. The winner will be announced at the WIBN Conference in Sápmi, Norway in September. Get National Native News delivered to your inbox daily. Sign up for our daily newsletter today. Download our NV1 Android or iOs App for breaking news alerts. Check out today’s Native America Calling episode Wednesday, May 6, 2026 – Tribes try to stay ahead of prediction markets on sports betting

Send us Fan MailIn this episode, Batt Lamb has the seasonal sniffles. There's nothing like a story to make you feel better, epecially one about the origins of delicious kai. Tanya and Pete share a a pūrākau/a traditional Māori story from Aotearoa/New Zealand, from Ngāti Kahungunu about how the kūmara, or sweet potato, came to this land.Support the showYou can find our audios and books to purchase at https://imagined-worlds.net/story-shopOr join the live monthly Batt Cave storytelling club at https://ko-fi.com/tanyabatt0027/tiers Or if you are an educator for children 0 - 8 years subscribe to 'Batt on the Mat' - a monthly online, professional development storytelling and arts programme https://imagined-worlds.net/batt-on-the-matAnd finally, if you enjoyed our podcast, please share with friends and write a review. Or make a donation to support what we do here https://ko-fi.com/tanyabatt0027Kia Ora!

A meteorite about the size of your fist goes on display today at the Tuhura Otago Museum. The rock - which is well over 100 years old - is one of just 10 discovered in Aotearoa New Zealand, and the first fresh discovery in over 20 years. Tuhura Museum Natural Sciences curator Kane Fleury joins Jesse.

A to Z of Aotearoa is our regular segment where we choose topics that represent an iconic person, place or thing. This week we've arrived at 'S', and our focus is the now internationally recognised symbol of New Zealand, the Silver Fern. Jesse chats to Leon Perrie, curator of botany at Te Papa and co-author of the 'Identification Guide to the Ferns and Lycophytes of Aotearoa New Zealand' and designer Ben Clark (Ben is the son of Dave Clark, the designer of the first official All Blacks logo).

Questions to Ministers Hon BARBARA EDMONDS to the Minister of Finance: Does she stand by all her statements and actions? NANCY LU to the Minister for Infrastructure: What recent announcements has he made about strengthening New Zealand's infrastructure system? RICARDO MENÉNDEZ MARCH to the Minister of Immigration: Do migrant bus drivers deserve clear, practical pathways to residency; if so, will she review the requirements for the Work to Residence pathway for bus drivers so that they can remain in the country? Hon WILLIE JACKSON to the Minister for Maori Crown Relations: Te Arawhiti: Does he believe that the review of references to the principles of the Treaty of Waitangi will improve Maori-Crown relations; if so, how? HANA-RAWHITI MAIPI-CLARKE to the Minister of Education: What assurances, if any, can she give to the Wai 3553 claimants that her education reforms will not risk long-term harm for Maori learners? CAMERON LUXTON to the Minister of Internal Affairs: What recent announcement has she made about a new Anzac initiative with Archives New Zealand and the National Library? SHANAN HALBERT to the Minister for Tertiary Education: What actions, if any, has she taken to support tertiary institutions and students impacted by the ongoing fuel crisis and rising cost of living? SAM UFFINDELL to the Minister of Health: What recent announcements has he made about expanding the role for community pharmacists? JAMIE ARBUCKLE to the Associate Minister of Health: What recent reports has she seen on illicit tobacco? LEMAUGA LYDIA SOSENE to the Minister of Internal Affairs: Has Fire and Emergency New Zealand been classified as a critical customer under the National Fuel Response Plan; if so, what does this classification mean in terms of fuel supply for Fire and Emergency New Zealand under National Fuel Response Plan phases 2, 3, and 4? MILES ANDERSON to the Minister for Land Information: What recent announcements has he made about investment in New Zealand's premium agricultural sector? STEVE ABEL to the Minister for Resources: Are there any places in Aotearoa New Zealand where mining should not be promoted; if so, where are these places?

The routes taken by migratory birds, known as flyways, often cross vast expanses of ocean. Six of these marine flyways have now been formally recognized by the U.N.'s Convention on Migratory Species, at the suggestion of scientists who published their findings on these flyways in the British Ecological Society's Journal of Applied Ecology. Tammy Davies, a co-author of the paper and marine science coordinator at BirdLife International, joins the Mongabay Newscast this week to discuss the conservation potential of the six flyways, and what the formal recognition by CMS does and doesn't do. "It's a fantastic communication tool for highlighting these amazing journeys that the seabirds undertake and the fact that multiple people, stakeholders, and countries need to come together and everyone can do their bit," Davies says. She notes that 151 bird species rely on these migratory routes, which connect 1,300 key biodiversity areas that the birds regularly use. Having nations focus on protecting these areas, and reducing bycatch from fishing, are just some of the ways countries can coordinate conservation efforts along these routes. But this effort requires shared responsibility across the 54 nations that these flyways bisect. The flyways provide a formal mechanism for nations to do this, Davies says. Please take a minute to let us know what you think of our podcast, here. Mike DiGirolamo is the host & producer for the Mongabay Newscast based in Sydney. Find him on LinkedIn and Bluesky. Image Credit: Antipodean albatross (Diomedea antipodensis antipodensis) offshore from Dunedin, Otago, Aotearoa New Zealand. Image by Oscar Thomas via Wikimedia Commons (CC BY-SA 4.0). ———-   Timestamps   (00:00) What are marine flyways? (07:47) How formal recognition helps conservation (14:55) Policy limitations (19:32) Shared goals with other treaties (21:41) What's next?

In this episode of the Elevate Podcast, Mark Metzger, Director of Metzger Builders, joins the conversation to share a behind-the-scenes look at the Registered Master Builders House of the Year Awards. With more than 35 years in the industry and multiple Supreme House of the Year titles to his name, Mark brings a unique perspective as both an award-winning builder and national judge.Mark unpacks how the judging process really works — from travelling across the country and assessing homes, to the detailed scoring system that evaluates workmanship, design, and degree of difficulty. He shares what makes a home stand out, the importance of consistency and craftsmanship, and how the competition continues to raise standards across the industry. This episode offers valuable insights for builders considering entering, and a fascinating look at what excellence in residential construction truly means in Aotearoa New Zealand. Useful links:Metzger Builders https://www.mblexcellence.co.nz/House of the Year Awards Where else you can find usWebsite: https://www.masterbuilder.org.nz/Elevate Platform: http://elevate.masterbuilder.org.nzInstagram: https://www.instagram.com/masterbuildernz/Facebook: https://www.facebook.com/registeredmasterbuildersYouTube: https://www.youtube.com/channel/UCmh_9vl0pFf0zSB6N7RrVeg

TRN Podcast Nick Estes live in conversation with Kim TallBear about the conference they organized,  Holding Our Ground: Voices and Strategies Against Self-Indigenization.  You can watch the individual panels that were livestreamed  on our YouTube channel https://www.youtube.com/playlist?list=PLKWiQX270BMoLRv25dDskRfsJ2pptPf3Z Conference description: "This two-day, hybrid symposium will convene leading experts, community members, and "first responders" to the global issue of self-Indigenization, particularly in the form of "Indigenous ethnic fraud," or "pretendianism," as it is referred to in North America. The symposium will be held in Minneapolis, on the traditional homelands of the Dakota people, who were imprisoned and eventually exiled in 1863 to aid settler appropriation of "Minnesota," a word also taken from the Dakota. On top of seizing land, US citizens have for centuries "played Indian" via sports mascots and appropriating Native nation names and iconography in scouting and in industries including the military. In the twenty-first century, we see ballooning numbers of US citizens make mythological claims to belong to Native lineages and nations. Some capitalize on those claims to appropriate Indigenous resources and opportunities, and to seize governance of institutions. We see an obviously violent example of self-Indigenization in the Department of "Homeland Security" whose agents seize governance of these lands, terrorize, imprison, and threaten to exile. As multiple forms of self-Indigenization converge, not all are grasped as violent, yet they combine to further colonial extraction. Extractive self-Indigenization, including Indigenous ethnic fraud, not only targets American Indians, but also First Nations, Métis, and Inuit in Canada; and global Indigenous communities in Aotearoa/New Zealand, Australia, Mexico, and elsewhere. This symposium will bring participants together to engage in critical discussions, learn from one another, and discuss actionable strategies to disrupt this global problem." Empower our work: GoFundMe: https://www.gofundme.com/f/empower-red-medias-indigenous-content  Subscribe to The Red Nation Newsletter: https://www.therednation.org/ Patreon https://www.patreon.com/redmediapr

A conversation with Leon Rui, CEO of the Whadjuk Aboriginal Corporation, after the return of a delegation invited to Aotearoa New Zealand for and economic exchange.

In this special Women's Month episode of the Elevate Podcast, Kirsty Hopewell, President of NAWIC New Zealand and Senior Quantity Surveyor at Naylor Love, joins the conversation to reflect on 30 years of the National Association of Women in Construction (NAWIC) and the powerful “30 Stories for 30 Years” campaign. Kirsty shares her own journey into construction, what drew her to the industry, and how NAWIC has created connection, visibility and support for women across Aotearoa New Zealand.Together, they explore the progress women have made in construction over the past three decades, the importance of mentorship and role models, and why greater visibility still matters. Kirsty also speaks about the value of diverse thinking on-site and in leadership, and why construction offers exciting pathways for the next generation of women. This is an inspiring Women's Month conversation about representation, opportunity, and building a more inclusive future for the industry.Useful links:NAWIC New Zealand 30 Stories for 30 Years campaignKirsty Hopewell LinkedIn Where else you can find usWebsite: https://www.masterbuilder.org.nz/Elevate Platform: http://elevate.masterbuilder.org.nzInstagram: https://www.instagram.com/masterbuildernz/Facebook: https://www.facebook.com/registeredmasterbuildersYouTube: https://www.youtube.com/channel/UCmh_9vl0pFf0zSB6N7RrVeg

Mary Fawcett of Schrödinger's Books reviews A Tiny Book of 100 Big Things in Aotearoa New Zealand by Maja Zonjic, published by Floki Films.

Indigenous scholar Tyson Yunkaporta (Apalech clan (Wik) Lostmob Nungar) joins the Mongabay Newscast to detail the Aboriginal perspectives behind his latest book, Right Story, Wrong Story: Adventures in Indigenous Thinking. The book explains how stories shape society, how they can harm us and the environment, and how they may save our species and the natural world. Yunkaporta explains how Indigenous laws, systems and lore can help us improve modern society, specifically in how humans relate first to the land, then to each other, and why this shapes how we exploit nature and care for it. Identifying the "wrong story" is critical, Yunkaporta explains, to correcting harmful behaviors or ways of governing. Ultimately, it's a lie, he says. Personified by what he characterizes as narcissistic or selfish behavior, it's generally seen by those who exploit the natural world at the expense of community well-being. "It's a terrible thing to … misrepresent things, make false claims, bear false witness in a way that is bending story, the story that everybody follows. The narratives that people tell that weave together to make a community and to hold a community on the right path that's sustainable for thousands of years." Please take a minute to let us know what you think of our podcast, here. Mike DiGirolamo is the host & producer for the Mongabay Newscast based in Sydney. Find him on LinkedIn and Bluesky. Image Credit: Mt. Taranaki, Aotearoa New Zealand, captured March 16, 2022. Image courtesy of Planet Labs PBC. —- Timecodes (00:00) What is 'Wrong Story'? (14:26) The 'Sacred Mind' (17:54) First Law (27:24) The environment and Wrong Story (38:13) The tale of Tidalik the frog (42:28) Totems and kinship (47:06) Serpent law