Best of Business

It's a tale of two islands when it comes to the economy.  

The Westpac Regional Roundup shows many businesses and households are suffering from the slow economy.  

Westpac Senior Economist Satish Ranchhod says feedback from the North Island was more downbeat, with Wellington being the worst off because of a shrinking public service.  

He says there was a rosier picture in the South Island.  

Ranchhod told Ryan B...

Business leaders have given their verdict on the Government in the Herald’s Mood of the Boardroom survey.

Some experts have noted that as the country enters an interest-rate cutting phase, now is the time to have a discussion about the make-up of ongoing retirement savings.

NZ Herald business editor at large Liam Dann says there's a clear mood for change as the economy enters a new phase.

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The Finance Minister is pleased the nation's business heavyweights share her values and priorities.

The Herald's annual Mood of the Boardroom survey has found CEOs and board members are more optimistic than pessimistic about the economy.

But they still have concerns about things like energy, living costs, interest rates, cyber security threats and insurance costs.

Nicola Willis says it's good to see New Zealand's business community...

Christchurch's Business Association is calling out the food truck plans of the city's Arts Centre.  

The centre's applied for licences for 33 trucks to operate 12 hours a day, seven days a week. 

But the Christchurch Business Association believes this is unfair, with chair Annabel Turley saying city businesses are subsidising the Arts Centre. 

She told Heather du Plessis-Allan that the centre is getting $5.5 million ...

Senior business leaders are rating Christopher Luxon well on keeping his Cabinet focused on delivery, and Education Minister Erica Stanford well on performance. 

More than 100 CEOs and board chairs have been quizzed for today's Mood of the Boardroom survey. 

They've identified energy prices as their biggest concern, followed by the cost of living. 

Dame Joan Withers, Chairperson for the Warehouse Group, told Heather ...

A proposal to re-develop Marsden Point's decommissioned refinery is being considered.

Channel Infrastructure NZ recently entered a conditional agreement with Seadra Energy to create a bio-refinery at the Northland site. 

Seadra would purchase it for about $53-million and use some existing, decommissioned assets like tankage and jetties.

Milford Asset Management's Jeremy Hutton unpacks what this could look like.

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Politicians of all stripes say the Government shouldn’t try to stop the values of properties vulnerable to the effects of climate change from plummeting.

In fact, they believe there is room for at-risk property values to fall further to discourage investment in flood-prone parts of the country.

NZ Herald Wellington business editor Jenee Tibshraeny unpacks these findings further.

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The Government has continued its push to increase the use of remote building inspections to speed up the construction and consenting process.

Building and Construction Minister Chris Penk has voiced disapproval with the current process - and claimed that remote inspections will make the building process more efficient and affordable.

 NZ Certified Builders CEO Malcolm Fleming says this process works well in remote parts of the...

Genesis Energy has confirmed it will spend $64 million on taking a majority stake in ChargeNet - the nation's leading EV public charging network.

Under terms of the agreement, Genesis will acquire a 65 percent stake in ChargeNet, which was founded in 2015 by tech entrepreneurs Steve and Dianna West. 

Genesis chief retail officer Stephen England-Hall says decarbonising New Zealand's transpor...

Australian retail sales rebounded by more than expected in August as warmer weather brought forward spring spending after a midwinter slump.

According to the Australian Bureau of Statistics, retail sales rose 0.7 percent - beating out initial predictions of 0.4 percent.

HSBC chief economist Paul Bloxham says it's clear recent tax cuts have driven up consumer spending.

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Construction continues to slow, although consents for office and public transport buildings have risen 26 percent.

Stats NZ says new home consents dropped 20 percent in the year to August - and standalone new builds fell 9.7 percent.

Consents for townhouses, apartments, retirement village units, and flats are down 27 percent.

Infometrics Principal Economist Brad Olsen unpacks the factors behind the decline.

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NZIER's latest Quarterly Survey of Business Opinion (QSBO) shows a marked improvement in business confidence in the September quarter.

A net 5 percent of firms expect a deterioration in general economic conditions over the coming months - a significant drop from the net 40 percent that expected a downturn three months ago.

NZIER deputy chief executive Christina Leung says demand was quite weak over the September quarter, but expect...

Foodstuffs has argued a merger blocked by the Commerce Commission would benefit consumers and suppliers. 

The competition watchdog has decided merging the chain's North and South Island co-ops would substantially lessen competition. 

Foodstuffs North Island CEO Chris Quin says they're likely to appeal the decision - based on the evidence they have at this point.

He says the move would only have changed the support ea...

Kiwis struggling to stay afloat have turned to credit cards to bridge the cap amid an ongoing cost-of-living crisis.

New credit card application enquiries have reached their highest level since 2021- and card arrears have jumped 4.4 percent in August.

Sorted Personal Finance Lead Tom Hartmann says living costs have increased and bills have piled up - and people feel the need to borrow their way through it.

"From power, from kids' s...

Over in China, regulators recently announced a range of monetary and fiscal stimulus policy changes aimed at fostering economic stabilisation and improving consumer confidence.

Official interest rates were cut and the Government announced a number of central bank spending programmes aimed at stabilising housing and supporting consumption.

Harbour Asset Management's Shane Solly unpacked these new policy changes - and explained what ...

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers. 

The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion. 

It took a total non-cash impairment of $114.6 million during the year against its long-term assets. 

CEO Grant Watson says the 2024 financial year was a...

The wine industry is hoping a new programme will help double production. 

The Government is investing $5.6 million over seven years into the programme, Next Generation Viticulture.

It aims to grow vines more efficiently, turning sunlight into grapes.

NZ Winegrowers Research Centre CEO Dr Juliet Ansell says it will redesign canopy management.

"It enables the vines to capture as much sunlight as they can - and encourage that sun...