May 6, 2026 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast 2026, unemployment’s slightly dipped to 5.3%, ASB Chief Economist Nick Tuffley shares his thoughts.
The Government's introducing a new citizenship test for those looking to become Kiwis, Principal lawyer at NZ Immigration Law tells Ryan how big of a difference this will make.
The Government’s pulling the pin on the Broadcasting Standards Authority, ACT MP Laura McClure tells Ryan why she thinks this is a good idea.
Plus, US Correspondent Mitch McCann has the latest on the Iran war edging closer to an end, and a number of state primary elections were held in Indiana, Michigan, and Ohio overnight.
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Speaker 1 (00:00):
The issues, the interviews and the insight. Bryan Bridge on
early edition with Spark for business technology that keeps business moving,
news talks, they'd be good.
Speaker 2 (00:11):
Morning six after five grade to have your company with
Thursday morning more young people out of work will speak
to Nick Tapley from ASP about that. Mitch mccannon's stateside
for US, the citizenship test, what questions would you pop them?
Speaker 3 (00:22):
There?
Speaker 2 (00:22):
And the BSA's Gonski Bryan Bridge Thursday, the seventh of May,
and Trump says the Iran war coulting with a deal,
but if not, strikes could ramp up again.
Speaker 4 (00:35):
The Pakistanis who are the mediators? And all this suggesting
that the Strait of hor moves for now at least
is open to all traffic. We should take none of
these posts at face value.
Speaker 5 (00:46):
I mean it's worth remembering.
Speaker 4 (00:48):
That a few weeks ago a post by the Pakistani
Prime minister. It was then suggested that actually that post
had been written by the Americans.
Speaker 2 (00:57):
I'll give you the details on that in just a second.
Brink crowd Future's either way below one hundred dollars US overnight.
As a result, G seven Trade ministers have been continuing
their meeting in Paris Day two. Supply chain. The big
issue here's the Brits.
Speaker 6 (01:10):
So we've been looking at what those aspects of resilience
mean the United Kingdom. We have started stockpiling critical minerals.
We've also started engaging with our key partners, including the
United States, as to how we can have a set
of arrangements between us to ensure the smooth supply of
critical minerals in different circumstances. And these are the sorts
(01:32):
of things that show that meetings like this really do deliver.
Speaker 2 (01:35):
Finally, this morning, Ted Turner, if you don't know the name,
you'll nobody's famous for created CNN. Founded CNN, amazing cable
network channel, twenty four hour news channel. President George Bush
once joke that they learned more from CNN they did
from CNA at the CIA. He's died at the age
of eighty seven.
Speaker 7 (01:53):
More and better information, more quickly received, has got to
be overall a plus. I think Clenn was pretty good
when when I was running it, and so did everybody else.
That's that's it. Because we were allowed to come in
everywhere in the world, and it was there was a
lot of opposition to a global network when we started
particularly one from the United States because people were afraid
(02:16):
of cultural imperialism.
Speaker 2 (02:19):
You're on News TALKSB. It's eight minutes after you run first.
Speaker 1 (02:22):
Bryan Bridge on early edition with fun for business Technology
that keeps business moving.
Speaker 3 (02:27):
News Talks B.
Speaker 2 (02:28):
Nine nine two is the number TIX. If anyone who
has any ideas, what questions would you put in a
citizenship questionnaire? Would love to hear your ideas this morning
nine two nine two. Apparently there will be one on
the treaty for those who are interested in that. There
will be a question on the treaty. It'll be stuff
like should you pay tax? And why is paying tax
an important part of living in society? That kind of thing,
(02:50):
you know, free speech, all those sorts of things. Now
speaking of actually the BSA is not too long in
this world and probably a good thing. I mean, it
never made sense. So I can say something. You know,
I have two jobs, very busy two jobs. One here
at News Talks, he'd be, and then one on a
streaming platform over at the Herald. I can come on
(03:12):
here News Talks, he'd be, say something, and I can
cop a fine for saying that. I can go on
to my other show, say the exact same thing and
it's consequence free. How does that make sense? The world's changed,
the thing doesn't fit anymore, it's broken, so get rid
of it, and they are it's all going to be
self regulation.
Speaker 8 (03:31):
Now.
Speaker 2 (03:31):
I don't think anyone actually, despite what my own passioned speech,
actually cares about this. So we will move on. Let's
go to the war very quickly. So the problem, of
course is the Strait has always been the Strait. It
was never going to be ending the war because you
can just walk away from that and say that you have,
you know, put a victory banner on it. But the
blockade didn't work, you know, trying to put pressure on
(03:52):
their raanings that way. Blockade didn't work. Project Freedom well
that's now on pause, didn't last a week. And that
it didn't work because no ship will cross that straight
as long as a little speedboat can come along and
fire something at it. And there's an interesting podcast called
Iran the Latest, which the Telegraph does, and they talk
(04:14):
about and have talked about from the very beginning, the
fact this whole situation with the Straight will not end
until there is a political solution, because as long as
you've got angry Iranians in speedboats missiles. You're never going
to get ships through the thing. So you actually need
them to agree to a political solution. And that's the
(04:35):
only way you're going to stop it. And that's basically
what Trump is realizing now. Ten after five YDS talks,
heb coming out next we'll talk about the BSA with
the ACT Party. Also, I'll give you a couple of
details on Charmer's budget that he's announcing on Tuesday. The
Australian has got hold of some COVID era tax relief
for businesses. News Talk SEB.
Speaker 1 (04:55):
On your radio and online on iHeartRadio Belly edition with
Bridge and Spark for business technology that keeps business moving.
Speaker 2 (05:04):
News Talks dB five point thirteen News Talks said be
The Australian reporting this morning that Charmer's budget across the
Tasman on Tuesday will include COVID era business tax relief.
You might remember this. It was worth about five billion
dollars during COVID times, though likely to be less this
time around. But they basically give you two years of
lost carryback for your taxes if you're a business, so
(05:25):
you can reduce your previous year's profits and therefore the
amount of tax that you're going to pay, and then
you essentially get a refund, and that refund will presumably
be reinvested into buying new equipment or keeping the business afloat.
Therefore it's better for the economy. However it costs the government.
And you know we spoke yesterday about the RBA warning
the government don't blow this. Inflation is overheating, so they
(05:51):
are real risk of doing that if you're to believe
that report in the Australian that's coming Tuesday. By the way,
loving the suggestions on a citizenship question, Ryan, question for
new citizens should you park in the middle of the
road and should you drive at twenty kilometers an hour
and a fifty kilometer zone weirdly all over the road?
Very good? Fourteen after five Brian Bred The essay is gone.
(06:13):
Government getting rid of it. Social media taking over traditional media.
Doesn't make sense to have it anymore. So the plan
now is to shift to a self regulated model. Laura
McClure ACTMP had a member's bill to get rid of
the thing. Is doing victory laps this morning. Laura, good morning, Hey,
good morning, Ryan. You're happy with this?
Speaker 3 (06:32):
Oh?
Speaker 9 (06:32):
Look, absolutely, it's a huge one for freedom of speech
here in New Zealand. But yeah, it's the BSA was
well and truly outdated and it's time that it wents.
Speaker 2 (06:44):
What types of things should you not be able to
say on the radio or on a podcast or on
an online streaming show.
Speaker 9 (06:53):
Well, look, I think the point of that question is
it is absolutely outs for debate and the BSA the
mechanism of the BSA was to essentially well regulate or
be the regulating body for our mainstream media, and part
(07:13):
of that was up to them to decide, you know,
uphold complaints. But it doesn't actually cover anything else from
our mainstream media. And we know that young people in
particular are consuming their media everywhere, whether it's online, whether
it's on their social media. So you know, it's look,
that is up for debate, but I don't believe the
BSA was the right is the right platform to be
(07:35):
able to discuss that.
Speaker 2 (07:36):
It's interesting you talk about social media a lot of
young people, that's obviously their main source of news just
of life in general. So isn't the message here really
to parents in particular that you need to school your
your children on how to understand what is right, what
is wrong and what is fact and what is fiction?
Speaker 9 (07:59):
Yeah. Absolutely, Look, it's definitely a parent's job. It's definitely
part of our education where young people are online, and
I believe that, you know, we need to we need
to do absolutely a bit more when it comes to
teaching our kids about the online environment and you know,
how to spot right wrong, disinformation, misinformation because the issue
isn't really with mainstream media, it's with you know, anything
(08:23):
that we can consume online.
Speaker 2 (08:25):
It's the wild West out there. Laura, good to have
you on the show. Laura McLure, ACTMP with us. This morning.
Time is sixteen after five, ran Bridge. Everybody loves Singapore
at the moment. Luxon's been over there, Willis has been
over there. Everybody's just in love with Singapore. Well, they've
just introduced a new rule which I thought you might
be interested in, and it is basically bringing back the cane. Yeah,
(08:50):
Singapore is bringing back the cane for kids only boys
nine years or older, and only if they're bullying other
kids at school. The principle has to approve it and
it's administered by authorized teachers. But if you bully another kid,
including cyber bullying, just to Laura's point, including cyber bullying,
you will get the cane in Singapore that had sought
(09:13):
them out, wouldn't it seventeen after five news talks had been.
Speaker 3 (09:16):
Before the news breaks.
Speaker 1 (09:18):
Here at first, Ryan Bridge on early edition with Spark
for business technology that keeps business moving news talks, he'd
be five nineteen.
Speaker 2 (09:27):
Quite interesting. What's happened post the depositor Compensation Guarantee scheme.
This is where you have one hundred thousand dollars in
a bank, or a building society, a credit union, or
crucially a deposit taking finance company, So your finance companies,
you've got one hundred grand in there that'll be protected
if the finance company goes ballly up. And what we're
(09:48):
doing is moving money, according to the Reserve Bank, from
traditional banks to finance companies. Their deposits have gone up
thirty percent since this change came into FUCE last July
is and that interesting. Also we're taking mortgages with them too,
and normally that says a riskier considered a riskier move
because they are more likely to fall over than a bank,
(10:09):
although you will get a higher return from them. But
those are up thirty percent and mortgages up thirty percent
to twenty after five. Ran brid government's introducing a new
citizenship test for those looking to become key. We's going
to be rolled out late twenty twenty seven. It asks
questions on topics like voting rights, principles of democracy, and
you need to get seventy five percent questions right to pass.
(10:30):
So not quite as hard as school. Aaron Martin, principal
lawyer at New Zealand Immigration Law with me this morning.
Get ay, Aaron is right, So what do you reckon?
What's wrong with asking, you know, should you pay taxes?
Free speech? Bit about the treaty, that sort of thing.
Speaker 8 (10:45):
Oh, there's nothing wrong with it. I just think it's
interesting that you've got someone who determines what is the
correct answer, and there clearly is an indication that there
is a correct view. And I'm just astounded that you've
got a party that's all about spending taxpayers money. Wisely,
(11:08):
who's now saying taxpayers should rund a bunch of bureaucrates
to come up with a pop quiz. I think we've
got bigger problems in New Zealand that need to be
addressed rather than the pop quiz on the citizenship test.
Most people come to New Zealand to become citizens because
of these values. So in my view, I think it's
(11:29):
a bit of a beat up in order to try
and look good in the upcoming election.
Speaker 2 (11:34):
How can you have a problem with the questions when
you don't know what they are yet?
Speaker 8 (11:38):
Well, in these circumstances, what do you need questions about
these things for?
Speaker 2 (11:42):
People know what to to make sure?
Speaker 4 (11:45):
Well?
Speaker 2 (11:46):
I know they know why they're coming, but how much
do they know about us?
Speaker 8 (11:50):
Well, given that they've already been here for about five years.
Speaker 2 (11:53):
Or more, it should be easy to answer exactly.
Speaker 8 (11:58):
So in those circumstances, why do we you even need
to have the test? If it's that easy, it's going
to mean that everyone's surely going to pass.
Speaker 2 (12:06):
In Australia, they ask things like which state is the
smallest of the mainland states Tres Many, Victoria, Queensland. I
mean they're pretty harmless, innocuous.
Speaker 8 (12:15):
You know, to school geography tests. I mean, really, what
you've got to ask what's the value of doing this
in the citizenship application?
Speaker 2 (12:24):
Doesn't it tell you?
Speaker 3 (12:26):
It tells you?
Speaker 2 (12:26):
It tells you something, doesn't aaron? Because if you're you know,
at school, we all studied hard because we were invested
in passing, We were invested in getting to a higher
level of education. So how hard can it be to
just answer a few questions and show that you're invested
in this country.
Speaker 8 (12:43):
I don't have a problem with that. People have already
invested in this country. They've come here, that they've devoted
their time, and I certain skills here. That's not an
issue for me. The issue is why on who thought
we spending taxpayers money the bureaucrats to come up with
a pop quiz at this point in time when New
Zealand's faced with much bigger problems, and on the standard
(13:07):
that are party that promotes itself on the wise spend
of taxpayers money thinks that this is a great thing
to do at this particular juncture of our history. Quite frankly,
it's a waste of money. It should be devoted on more.
Speaker 2 (13:21):
Important Aaron Martin with us this morning, principal lawyer at
New Zealand Immigration Law. Appreciate your time. Twenty three after
five Ryan the number to text now Treasury they've released
a bunch of documents. This is the Minister of Finance
advice that they got from Treasury, you know, they do
the proactive release or they've done a document dump, and
it's from March and April telling us what Treasury was
(13:43):
telling the Minister around the straight offor moves and the
closure in the war. And the worst case scenario for
inflation was seven point four percent. GDP at still up,
but zero point eight percent for the twenty twenty six
Joon quarter and inflation sorry, unemployment at five point seven percent,
so basically really bad. But that is worst case scenario.
(14:05):
And under that scenario they also tell you, which I
hadn't heard before, how much petrol and diesel would cost.
And this is scenario three worst case petrol for quarter two,
the one we're in now five dollars fifty and by
quarter four this year, so the end of this year,
to be down to just under five bucks a liter.
(14:25):
Diesel five dollars eighty five it would cost right now,
and by the end of the year five dollars twelve.
So clearly we are nowhere near the worst case scenario
they were predicting just three weeks ago twenty four after
five News Talks EBB.
Speaker 1 (14:40):
The early edition full the show podcast on iHeartRadio Power by.
Speaker 3 (14:45):
Newstalks IV.
Speaker 2 (14:48):
Five twenty six. Y're on news Talks EBB. The coalition
is failing on two numbers that matter to most of
US voters. The most, inflation is up over three percent,
not as bad as the Aussies, not helped by Trump.
But wage growth two percent this year. The prediction the
cost of buying stuff is going up quicker than we
can afford to pay for it by working our real
(15:09):
wages are basically a bit shite. Sorry be say you know.
When Luxon set the election date in January, he said
people needed to feel the recovery, feel a recovery happening. Well,
they're not. That's why the right track wrong track poll
results look the way that they do. Most of us
reckon that we're heading in the wrong direction because they are,
(15:30):
and people generally and rightly link their individual circumstances to
that of the country. Now, some of you might be
annoyed by this, but these are facts. You can't argue
with them. However, they do not mean labor is getting
back into government. Far from it. Elections are about choices.
Is the other guy hawking as wear has got something
better to offer me? Labour's got three doctors' visits at
(15:53):
already stretched GP clinics at a world of financial and
tax uncertainty with the Greens Anti Party Mardia their site.
As I said from the beginning on this, this coalition
will be re elected because they are relatively stable and
Kiwi's generally mostly give first time as a second shot.
These wage inflation numbers are not good for them, but
(16:16):
not fatal either. The risk of the unknown, the devil
you don't know is, specially during a crisis like this,
will in the end get Luxen re elected Prime Minister.
I still don't think that Kiwi's when they come to
polling booths in November will want to risk getting out
of the frying pan only to end up in the fire.
(16:36):
Ryan Bridge twenty nine minutes after five News Talk said,
be loads of tecks coming in on immigration after our
interview with the lawyer Ryan who becomes a citizen in
New Zealand and what they believe is a fundamental problem
for a nation. There is no bigger issue. Lots of
support for the test that AC party is talking about
and will be introduced by the way. The jobless rate
(16:59):
was downslot the for the March quarter compared to December,
going five point four, down five point three. The Neats
number is the interesting one because this is answers the
question why young people going over to Australia. Well, they've
got jobs and we don't.
Speaker 3 (17:13):
So not in.
Speaker 2 (17:14):
Employment education training that is up to fifteen point nine percent.
It was fourteen point four a year ago. We'll speak
to Nick Tuffley about that before six. Also we'll get
to Trump and what he's saying about Iran. I mean,
it's one day it's says the next day it's that.
But Mitch mccan has the details All ahead.
Speaker 3 (17:41):
News and views you trust to start your day.
Speaker 1 (17:45):
It's early edition with Ryan Bridge and Spark for Business
Technology that keeps business moving.
Speaker 3 (17:51):
News Talk d be.
Speaker 2 (17:53):
Are so bad, are so bad it hurts. It's pretty
well away from six year on news Talk, said the
Nick Tuffley asb on jobs Before six, Mitch McCann and
New York on the war for us. We're back to
the peace talk game this morning. There is apparently a
one page word document that's floating around that someone might sign,
but maybe they won't. Markets are loving it though. As
(18:13):
we woke this morning, Brent crude was down, the futures
down seven percent. To just under one hundred bucks a barrel.
In Europe, stocks were up, the foot Sea in Britain
was up two percent, s and P five hundred up.
Everything up, basically, NASDAK up. In fact, the NASDAK and
the SMP now both reaching for the second week in
a row new record highs. And the whole stock market
(18:37):
in the US at the moment is predicated on two
basic things. One that the war will end soon, that
there will be de escalation rather than escalation. And the
other thing is that the AI hype is real news.
Talk seb it is twenty three to six red some
of your texts and a second Calumns and Eden morning
Callum morning, Right. You've got a problem with the African
(18:58):
feather grass.
Speaker 10 (19:00):
This is a nasty invasive pest, this type of grass.
It's been detected in Otago, prompting urgent control if it's here.
It's been found in four clusters on a property in Herbert,
an area where it hasn't been found before. Herbert a
small town just north of Dunedin on State Highway one.
African feather grass is a tussock grass, very invasive, grows
(19:20):
up to two meters in height, produces large amounts of
seeds that spread quickly and easily, and it crowds out
other species, so you've got to get onto it quick.
The Otaga original council staff have removed the seed heads there.
They've begun treatment to stop its spreading. They say they're
grateful to the residents who reported it so they could
stop it spreading further.
Speaker 2 (19:39):
Hopefully, that's the kind of margrant we don't want. How's
your weather.
Speaker 10 (19:43):
We've got a bit of rain here this morning, but
it clears this afternoon to find spells the high nineteen
nice one.
Speaker 2 (19:48):
Thank you Claire on christ this morning, Claire, good Morning's
going on with your horses?
Speaker 11 (19:52):
Yes, the horses, the old Crusaders horses. They were retired
after thirty years of service from Crusaders' home games. This
happened a week out from the new stadium opening. It
was revealed there was not going to be enough room
for them to safely run around the field. Now, it
was quite curious at the time, given the horsemen confirmed
to us they hadn't actually been in the stadium, let
alone tested the theory and had an analysis about the safety.
(20:14):
There's been a petition for their return. The community has
been desperate for them to come back, saying that the
vibe of the stadium won't be the same, etc. Well, yesterday,
just as we were coming off here here locally, we
got word that the horses were actually at the new stadium.
You should have seen it. It was like rats up drain pipes,
reporters running everywhere heading down there to have a look,
and sure enough the Crusaders were doing the lap. The
(20:35):
iconic Conquest song was playing at the same time. There
were TV cameras spotted there, which is very interesting. And
this was all while the weekly media session was helpening
elsewhere with the players. Now we've hassled the Crusaders, as
spokesperson's confirmed, yes they were doing a physical test at
the new venue. But there's still lots to work through.
But we do know, of course that TVNZ cameras were there.
(20:57):
There is suggestion there's going to be a very big
imminent re veal. There's only three remaining home matches for
the Crusaders, so we're very much watching this space.
Speaker 2 (21:05):
Nice So we're now finished talking about it opening. We're
just going on about the horses that we the.
Speaker 12 (21:10):
Clear will never stop.
Speaker 11 (21:12):
High cloud, a bit of scattered rain about today. Otherwise
northeasterliesan twenty one.
Speaker 2 (21:16):
Nice I'm thank you Mex and went into morning mechs,
good morning. Andrew Little getting some help from business.
Speaker 5 (21:21):
Yeah, the council here certainly does not have a reputation
as being a pro business so well. Initially, to try
to counter that narrative, former Mayor Tori Fano would set
up a business advisory group. If you recall, it didn't work.
People quit. It seemed like it was mostly made up
of a Noah's Ark of people who were either her
mates or had a large Instagram following, and few actual
business leaders. This time, Andrew Little setting up three separate
(21:44):
expert business advisory groups, one for property, infrastructure, housing, a
one for tech, science, education innovation, a one for arts
hospitality in a city seeking expressions of interest to help
develop a growth action plan. I can tell you the
first thing whoever ends up on one of these things
is going to say is lower commercial rates please. There
(22:06):
are ours are among the highest in the country, three
times that of residential I think the response is going
to be, well, we can't do that, but what would you.
Speaker 8 (22:13):
Like us to do?
Speaker 2 (22:14):
Max? How's your weather cloudy? With Drezil gusty nor the
Le's eighteen. Thank you very much. Neva in Auckland, Morning, Neva,
good morning. Well quite a shocking revelation from the former
boss of the CRL.
Speaker 12 (22:24):
Yes, you're quite right. Now he's admitted that the CRRAL
infrastructure project could have been built for half the price now.
It was initially costed at three point four billion, then
skyrocketed to an estimated five point five billion due to
the COVID nineteen pandemic, the scope changes and inflation now
back from two years in Ireland. This is Sean Sweeney
(22:45):
and he's told the Herald he would do things differently
with the CRL if he hit his time again. What
he's basically saying is that look New Zealand isn't very
good at specifying scope is we don't have many of
these projects and so we're over specified and it's making
them too expensive. So there's a big, big story there
in the Herald.
Speaker 2 (23:04):
And you can check it out. How's our weather.
Speaker 12 (23:06):
Partly clouding, isolated showers, still warm. Twenty one is the
high here in Auckland.
Speaker 2 (23:09):
Nice one never think very much. It is nineteen minutes away.
Speaker 3 (23:12):
From six Ryan Bridge.
Speaker 2 (23:13):
There are almost they look like chandeliers in the train
and the subway stations that we will be walking through
come September when this thing opens, And you think, what
on earth do we need those for? In London, I've
just got bricks, you know. Why do we need shandlier
type art installations on the roof? And how much does
that cost to install? No wonder the costs blew out
(23:34):
and not just for that reason. I actually asked Wayne
Brown about this the other week. He said, ye, people
are going down there to catch a train, not get married.
You know, it doesn't need to look flash, does it.
And he's right, Hey, couple of numbers for you. Well, actually,
one quick text this is we had loads of feedback
on the government and not performing well in terms of
wage v inflation. However, doesn't mean that labors are going
(23:58):
to get re elected. We'll get elect did. In fact,
the opposite. This person says, how on earth can any
government get their economy under control with the geopolitical situation
as it is at the moment. I would suggest none. Yeah,
I agree with you, and I think the difference because
this election is going to be there'll be a lot
of oh it's a geopolitical international situation let's blame that.
(24:19):
Labour will then come in and say, well, we have
the same with COVID. There's a big difference. So COVID,
sure the virus, you can't control. What you could control
were your responses to it? Did you need that many lockdowns?
Did you need to do the mandates? Did you need
to do all the restrictions? That's the difference. The geopolitical
(24:40):
stuff you can't control. What they could control is what
people didn't like about them seventeen to six. There's no
denying it. Businesses are under pressure at the moment, and
keeping up in the current market takes innovation, real innovation.
That's why businesses are getting ahead of the crowd and
looking harder at technology that can genuinely improve how they
are because resilience doesn't just happen overnight, you build it.
(25:03):
And that's the conversation Spark is having with its customers
right now. Whether it's smarter connectivity, cloud solutions with scale
and they scale with you, or unlocking the power of
AI to drive better decisions and productivity, Spark is helping
businesses stay ahead of the curve. That's where you want
to be. They're not just selling tech, they're offering real
solutions and real support. It's about making your systems work
(25:26):
together so your people can focus on the day to
day stuff, all that stuff that really matters. So if
you're ready to take the pressure off and move forward
with confidence, talk to Spark for Business. They'll help get
you sorted.
Speaker 1 (25:38):
International correspondence with ends and eye insurance, peace of mind
for New Zealand business.
Speaker 2 (25:45):
Trump says, if they don't agree, the bombing starts again.
But the markets like the sound of talk of a
piece deal. Let's go to Mitch McCann's stateside for US. Mitch,
what do you reckon? Are we getting close here?
Speaker 13 (25:54):
Well, it's hard to know, Ryan, but the investors are
really happy to DOWT is almost back at fifty thousand,
that number Donald Trump often talks about. But it's up
to the Iranians whether or not they agree to this
proposal from the US. It reportedly contains a couple of
interesting provisions here. The deal would involved irun committing to
a moratorium on nuclear enrichment. How long for, we don't know.
(26:17):
It's also reported the deal would include the US agreeing
to lift sanctions and release billions of dollars of frozen
Iranian funds, and both sides would also lift restrictions around
the Strait of Horn moves. Now it could take up
for forty eight hours for the Iranians to decide what
they're going to do here. But as you mentioned, Donald
Trump said, quote, if they don't agree, the bombing starts,
and it will be sadly, at much higher levels and
(26:39):
intensity than it was before.
Speaker 2 (26:41):
That's the threat from the US president. Hey, the state
primary elections were interesting, particularly Indiania, Indiana, and Trump not
doing too bad. Yeah, not at all.
Speaker 13 (26:50):
So several primary elections were held in US states overnight
where Republicans and Democrats pick their candidates for say governor
in the state of Ohio and state Senate seats and Indiana. Now,
these aren't normally exciting races at all Rome, but they
showed the power Donald Trump still has over the Republican
Party because in December, seven Republicans in Indiana refused to
(27:11):
back Donald Trump's plans to redraw redraw district lines to
favor the Republican Party. Now, Donald Trump endorsed challenges against
all seven some sort of retribution, and at least five
of those Trump back candidates won last night. So really
It shows the power he still has with him the GOP.
Speaker 2 (27:30):
Mitch McCann our US corresponding Good TV on the show
This Morning. Mitch is always twelve minutes away.
Speaker 3 (27:34):
From six Ryan Bridge.
Speaker 2 (27:36):
So unemployment came in five point three percent for quarter one.
That was down from five point four percent quarter four
to twenty twenty five, still to feel the full impact
of the war, of course that it did include a
month of it. Youth unemployment is the one you want
to watch. That's up fourteen point four percent from thirteen
point three. Wage growth also out of five year low
two percent. Nick Tuffley Asbchief Economist, Nick, good morning, Good morning.
(27:58):
Worst is yet to come on.
Speaker 14 (28:01):
Well, we do think we'll see a bit of a
hiccup in hiring through the middle parts of this year.
But we've got a view that employment will be sort
of fairly flat rather than something catastrophic. Well, we'll obviously
have to wait and see, but the next quarter or two.
So where we are now and over the next few months,
is it are more the danger zone because that's where
we're in that time where people are ADUs in their
(28:23):
spending habits and being more cautious, and businesses are sort
of deferring or reconsidering decisions or just hunting down to
wait and see for a little bit.
Speaker 2 (28:31):
The young people who are not in work, not training,
all that good stuff, the number going up. Is this
normally what happens when there is problems with employment and
it's the young ones who have the most trouble or
is there something more going on here?
Speaker 14 (28:44):
Well, unfortunately, it's the pattern that we often see because
your younger people are people who have less experience if
they're coming out of say school or university into a
market where hiring is pretty cool. So that's the sort
of environment we've been in for several years. Unfortunately, it's
(29:05):
tough getting that first job that gets you on that
employment ladder. So unfortunately, this is a pattern that we
do tend to see.
Speaker 2 (29:12):
How long before we see wages start topace inflation again, Well.
Speaker 14 (29:18):
At this point, we expect wages are going to be
sort of pretty pretty muted really, so we don't really
see wage growth sort of gathering a lot of steam
and being too much of an inflation problem. So we
expect that wages are going to remain that the growth
of them go remains sort of fairly standing, sort of
roughly where it is. So, Look, we're not in the
(29:38):
environment we were in a few years ago where because
you had super low unemployment, employees scrambling to find people
and paying huge wage increases even though there wasn't any
productivity there. That caused quite a bit of inflation. This
time around, we're not so likely to have that problem,
even though inflation is pretty high, but means that we're
not getting that compensation. So we're speaking their pay packets
(30:02):
for these sort of added fuel costs and some of
the other costs increases.
Speaker 2 (30:06):
The giving with one takes with the other, doesn't it. Nick,
appreciate your time, Nick Tuffley, aspechief Economists. You're on News
Talk SeeDB Ryan Bridge. So over in the States, they've
had their own little jobs update this week. In fact,
they've had one overnight numbers from the human resources firm
ADP because their job park it has been doing well,
especially when you consider what's going on here. However, they've
(30:28):
actually been shedding jobs in the US for five out
of the last twelve months, not a great sign. However,
these new numbers give them some hopes. So private sector
jobs added one hundred and nine thousand for April. That's
the best in fifteen months. Now, Tuesday you had some
labor department numbers. Hiring was picking up considerably higher in
March Friday, the real tests for the Americans. The Labor
(30:50):
Department April jobs report is due eight to six. News
Talk SEB might next.
Speaker 1 (30:57):
Ryan Bridge on early edition with for Business Technology that
Keeps Business Moving News Talks B.
Speaker 2 (31:04):
Sixty six News Talks said B. Despite what Mitch told
us from New York just earlier, the average price of
a gallon of gas over in the US is four
dollars fifty four right now. That is up from three
dollars when the war started. So that is going to
be one of the biggest problems that Trump will have
another number for you this morning. You know, the European
Union of the Brits hated They hated it for a
(31:24):
lot of reasons, but one of the reasons was just
the sheer amount of paperwork and bureaucracy that came with
being part of it. There is a report out this
morning estimates three hundred billion New Zealand dollars is what
paperwork cumulatively, paperwork and bureaucracy and red tape is costing
anyone who is in that block right now doing business.
Speaker 3 (31:45):
Brian Bridge took six.
Speaker 2 (31:47):
And Mike's in the studio. Morning Mike, Greetings, Ryan. Lovely
to see you, even more lovely to see you. Have
you look. I don't imagine you've seen this story, but
it took my fancy. Have you ever been to one
of those hotels where the Brits run like a stampede
for the beach chairs, the deck chairs around the poll.
Speaker 15 (32:06):
That's that's not British, that's that's global.
Speaker 2 (32:09):
Everyone does it.
Speaker 15 (32:10):
Everyone does it. Have you never been to dinner ow
go to dinner our Sometimes it's like it's oh, they
do it literally all over the world. It's the most
disgusting thing I've ever seen. And the German guy, I
have seen the story, you have.
Speaker 2 (32:24):
Seen, he's got some compensation.
Speaker 15 (32:26):
More importantly, he's won.
Speaker 2 (32:27):
He won a thousand pounds off a seven thousand pound
trip with his wife and two kids on a package holiday.
Speaker 15 (32:34):
There's something that's why, it's why. Look, this will make
me sound it is feral, and it makes me sound
like a snob, but we we swore off eg many
years ago for that very thing. Because the whole thing,
it's there's two things I can't stand and that's why
I don't go on cruise. It's poor people, no people,
people who hog lounges from six am in the morning.
(32:56):
And also buffets because people's behavior own buffets is shocking.
Speaker 2 (33:00):
Also after COVID, have we learned nothing? I mean, you
don't want to get around a buffet table with strangers.
Speaker 15 (33:05):
Have you seen is it easy yo or Yo mo
or lovely yo or whatever it is? You go, you
go by your It's like the days of pizza hut.
We used to have the buffet and the ice cream thing.
So there are yoga outlets. Now you go and you
pay by weight, which is your first mistake. Fostered this
the other day. He paid thirty dollars because he brought
about two tons of yoga. Then next to the yogurt machine,
(33:26):
you're just needing that, pulling this leg?
Speaker 2 (33:28):
Are you then eating it in one sitting? It's so
thirty dollars worth of yogat How long was he there?
Speaker 15 (33:34):
About three and a half minutes? You know, he's like anyway,
next to that, you've got the chocolate chips and the
hundreds of thousands, and it's disgusting.
Speaker 2 (33:42):
Do you know one other thing that should not be
done eating in mauls.
Speaker 15 (33:46):
Couldn't agree more. Do you know the Japanese you do
not walk and eat. That's that's the thing you get. Yeah,
and you do not walk and eat because it's just
it's appalling. Also hard to do it with chop sticks. Hey,
my wife went to the movies and we don't have
time for this. Is twenty six.
Speaker 2 (34:00):
To fifty normal for a movie? Yes, in fact, that's cheap.
I paid thirty six dollars the other day.
Speaker 3 (34:05):
See you tomorrow.
Speaker 1 (34:09):
For more from Early Edition with Ryan Bridge. Listen live
to News Talks. It'd be from five am weekdays, or
follow the podcast on iHeartRadio
The issues, the interviews and the insight. Bryan Bridge on
early edition with Spark for business technology that keeps business moving,
news talks, they'd be good.
Speaker 2 (00:11):
Morning six after five grade to have your company with
Thursday morning more young people out of work will speak
to Nick Tapley from ASP about that. Mitch mccannon's stateside
for US, the citizenship test, what questions would you pop them?
Speaker 3 (00:22):
There?
Speaker 2 (00:22):
And the BSA's Gonski Bryan Bridge Thursday, the seventh of May,
and Trump says the Iran war coulting with a deal,
but if not, strikes could ramp up again.
Speaker 4 (00:35):
The Pakistanis who are the mediators? And all this suggesting
that the Strait of hor moves for now at least
is open to all traffic. We should take none of
these posts at face value.
Speaker 5 (00:46):
I mean it's worth remembering.
Speaker 4 (00:48):
That a few weeks ago a post by the Pakistani
Prime minister. It was then suggested that actually that post
had been written by the Americans.
Speaker 2 (00:57):
I'll give you the details on that in just a second.
Brink crowd Future's either way below one hundred dollars US overnight.
As a result, G seven Trade ministers have been continuing
their meeting in Paris Day two. Supply chain. The big
issue here's the Brits.
Speaker 6 (01:10):
So we've been looking at what those aspects of resilience
mean the United Kingdom. We have started stockpiling critical minerals.
We've also started engaging with our key partners, including the
United States, as to how we can have a set
of arrangements between us to ensure the smooth supply of
critical minerals in different circumstances. And these are the sorts
(01:32):
of things that show that meetings like this really do deliver.
Speaker 2 (01:35):
Finally, this morning, Ted Turner, if you don't know the name,
you'll nobody's famous for created CNN. Founded CNN, amazing cable
network channel, twenty four hour news channel. President George Bush
once joke that they learned more from CNN they did
from CNA at the CIA. He's died at the age
of eighty seven.
Speaker 7 (01:53):
More and better information, more quickly received, has got to
be overall a plus. I think Clenn was pretty good
when when I was running it, and so did everybody else.
That's that's it. Because we were allowed to come in
everywhere in the world, and it was there was a
lot of opposition to a global network when we started
particularly one from the United States because people were afraid
(02:16):
of cultural imperialism.
Speaker 2 (02:19):
You're on News TALKSB. It's eight minutes after you run first.
Speaker 1 (02:22):
Bryan Bridge on early edition with fun for business Technology
that keeps business moving.
Speaker 3 (02:27):
News Talks B.
Speaker 2 (02:28):
Nine nine two is the number TIX. If anyone who
has any ideas, what questions would you put in a
citizenship questionnaire? Would love to hear your ideas this morning
nine two nine two. Apparently there will be one on
the treaty for those who are interested in that. There
will be a question on the treaty. It'll be stuff
like should you pay tax? And why is paying tax
an important part of living in society? That kind of thing,
(02:50):
you know, free speech, all those sorts of things. Now
speaking of actually the BSA is not too long in
this world and probably a good thing. I mean, it
never made sense. So I can say something. You know,
I have two jobs, very busy two jobs. One here
at News Talks, he'd be, and then one on a
streaming platform over at the Herald. I can come on
(03:12):
here News Talks, he'd be, say something, and I can
cop a fine for saying that. I can go on
to my other show, say the exact same thing and
it's consequence free. How does that make sense? The world's changed,
the thing doesn't fit anymore, it's broken, so get rid
of it, and they are it's all going to be
self regulation.
Speaker 8 (03:31):
Now.
Speaker 2 (03:31):
I don't think anyone actually, despite what my own passioned speech,
actually cares about this. So we will move on. Let's
go to the war very quickly. So the problem, of
course is the Strait has always been the Strait. It
was never going to be ending the war because you
can just walk away from that and say that you have,
you know, put a victory banner on it. But the
blockade didn't work, you know, trying to put pressure on
(03:52):
their raanings that way. Blockade didn't work. Project Freedom well
that's now on pause, didn't last a week. And that
it didn't work because no ship will cross that straight
as long as a little speedboat can come along and
fire something at it. And there's an interesting podcast called
Iran the Latest, which the Telegraph does, and they talk
(04:14):
about and have talked about from the very beginning, the
fact this whole situation with the Straight will not end
until there is a political solution, because as long as
you've got angry Iranians in speedboats missiles. You're never going
to get ships through the thing. So you actually need
them to agree to a political solution. And that's the
(04:35):
only way you're going to stop it. And that's basically
what Trump is realizing now. Ten after five YDS talks,
heb coming out next we'll talk about the BSA with
the ACT Party. Also, I'll give you a couple of
details on Charmer's budget that he's announcing on Tuesday. The
Australian has got hold of some COVID era tax relief
for businesses. News Talk SEB.
Speaker 1 (04:55):
On your radio and online on iHeartRadio Belly edition with
Bridge and Spark for business technology that keeps business moving.
Speaker 2 (05:04):
News Talks dB five point thirteen News Talks said be
The Australian reporting this morning that Charmer's budget across the
Tasman on Tuesday will include COVID era business tax relief.
You might remember this. It was worth about five billion
dollars during COVID times, though likely to be less this
time around. But they basically give you two years of
lost carryback for your taxes if you're a business, so
(05:25):
you can reduce your previous year's profits and therefore the
amount of tax that you're going to pay, and then
you essentially get a refund, and that refund will presumably
be reinvested into buying new equipment or keeping the business afloat.
Therefore it's better for the economy. However it costs the government.
And you know we spoke yesterday about the RBA warning
the government don't blow this. Inflation is overheating, so they
(05:51):
are real risk of doing that if you're to believe
that report in the Australian that's coming Tuesday. By the way,
loving the suggestions on a citizenship question, Ryan, question for
new citizens should you park in the middle of the
road and should you drive at twenty kilometers an hour
and a fifty kilometer zone weirdly all over the road?
Very good? Fourteen after five Brian Bred The essay is gone.
(06:13):
Government getting rid of it. Social media taking over traditional media.
Doesn't make sense to have it anymore. So the plan
now is to shift to a self regulated model. Laura
McClure ACTMP had a member's bill to get rid of
the thing. Is doing victory laps this morning. Laura, good morning, Hey,
good morning, Ryan. You're happy with this?
Speaker 3 (06:32):
Oh?
Speaker 9 (06:32):
Look, absolutely, it's a huge one for freedom of speech
here in New Zealand. But yeah, it's the BSA was
well and truly outdated and it's time that it wents.
Speaker 2 (06:44):
What types of things should you not be able to
say on the radio or on a podcast or on
an online streaming show.
Speaker 9 (06:53):
Well, look, I think the point of that question is
it is absolutely outs for debate and the BSA the
mechanism of the BSA was to essentially well regulate or
be the regulating body for our mainstream media, and part
(07:13):
of that was up to them to decide, you know,
uphold complaints. But it doesn't actually cover anything else from
our mainstream media. And we know that young people in
particular are consuming their media everywhere, whether it's online, whether
it's on their social media. So you know, it's look,
that is up for debate, but I don't believe the
BSA was the right is the right platform to be
(07:35):
able to discuss that.
Speaker 2 (07:36):
It's interesting you talk about social media a lot of
young people, that's obviously their main source of news just
of life in general. So isn't the message here really
to parents in particular that you need to school your
your children on how to understand what is right, what
is wrong and what is fact and what is fiction?
Speaker 9 (07:59):
Yeah. Absolutely, Look, it's definitely a parent's job. It's definitely
part of our education where young people are online, and
I believe that, you know, we need to we need
to do absolutely a bit more when it comes to
teaching our kids about the online environment and you know,
how to spot right wrong, disinformation, misinformation because the issue
isn't really with mainstream media, it's with you know, anything
(08:23):
that we can consume online.
Speaker 2 (08:25):
It's the wild West out there. Laura, good to have
you on the show. Laura McLure, ACTMP with us. This morning.
Time is sixteen after five, ran Bridge. Everybody loves Singapore
at the moment. Luxon's been over there, Willis has been
over there. Everybody's just in love with Singapore. Well, they've
just introduced a new rule which I thought you might
be interested in, and it is basically bringing back the cane. Yeah,
(08:50):
Singapore is bringing back the cane for kids only boys
nine years or older, and only if they're bullying other
kids at school. The principle has to approve it and
it's administered by authorized teachers. But if you bully another kid,
including cyber bullying, just to Laura's point, including cyber bullying,
you will get the cane in Singapore that had sought
(09:13):
them out, wouldn't it seventeen after five news talks had been.
Speaker 3 (09:16):
Before the news breaks.
Speaker 1 (09:18):
Here at first, Ryan Bridge on early edition with Spark
for business technology that keeps business moving news talks, he'd
be five nineteen.
Speaker 2 (09:27):
Quite interesting. What's happened post the depositor Compensation Guarantee scheme.
This is where you have one hundred thousand dollars in
a bank, or a building society, a credit union, or
crucially a deposit taking finance company, So your finance companies,
you've got one hundred grand in there that'll be protected
if the finance company goes ballly up. And what we're
(09:48):
doing is moving money, according to the Reserve Bank, from
traditional banks to finance companies. Their deposits have gone up
thirty percent since this change came into FUCE last July
is and that interesting. Also we're taking mortgages with them too,
and normally that says a riskier considered a riskier move
because they are more likely to fall over than a bank,
(10:09):
although you will get a higher return from them. But
those are up thirty percent and mortgages up thirty percent
to twenty after five. Ran brid government's introducing a new
citizenship test for those looking to become key. We's going
to be rolled out late twenty twenty seven. It asks
questions on topics like voting rights, principles of democracy, and
you need to get seventy five percent questions right to pass.
(10:30):
So not quite as hard as school. Aaron Martin, principal
lawyer at New Zealand Immigration Law with me this morning.
Get ay, Aaron is right, So what do you reckon?
What's wrong with asking, you know, should you pay taxes?
Free speech? Bit about the treaty, that sort of thing.
Speaker 8 (10:45):
Oh, there's nothing wrong with it. I just think it's
interesting that you've got someone who determines what is the
correct answer, and there clearly is an indication that there
is a correct view. And I'm just astounded that you've
got a party that's all about spending taxpayers money. Wisely,
(11:08):
who's now saying taxpayers should rund a bunch of bureaucrates
to come up with a pop quiz. I think we've
got bigger problems in New Zealand that need to be
addressed rather than the pop quiz on the citizenship test.
Most people come to New Zealand to become citizens because
of these values. So in my view, I think it's
(11:29):
a bit of a beat up in order to try
and look good in the upcoming election.
Speaker 2 (11:34):
How can you have a problem with the questions when
you don't know what they are yet?
Speaker 8 (11:38):
Well, in these circumstances, what do you need questions about
these things for?
Speaker 2 (11:42):
People know what to to make sure?
Speaker 4 (11:45):
Well?
Speaker 2 (11:46):
I know they know why they're coming, but how much
do they know about us?
Speaker 8 (11:50):
Well, given that they've already been here for about five years.
Speaker 2 (11:53):
Or more, it should be easy to answer exactly.
Speaker 8 (11:58):
So in those circumstances, why do we you even need
to have the test? If it's that easy, it's going
to mean that everyone's surely going to pass.
Speaker 2 (12:06):
In Australia, they ask things like which state is the
smallest of the mainland states Tres Many, Victoria, Queensland. I
mean they're pretty harmless, innocuous.
Speaker 8 (12:15):
You know, to school geography tests. I mean, really, what
you've got to ask what's the value of doing this
in the citizenship application?
Speaker 2 (12:24):
Doesn't it tell you?
Speaker 3 (12:26):
It tells you?
Speaker 2 (12:26):
It tells you something, doesn't aaron? Because if you're you know,
at school, we all studied hard because we were invested
in passing, We were invested in getting to a higher
level of education. So how hard can it be to
just answer a few questions and show that you're invested
in this country.
Speaker 8 (12:43):
I don't have a problem with that. People have already
invested in this country. They've come here, that they've devoted
their time, and I certain skills here. That's not an
issue for me. The issue is why on who thought
we spending taxpayers money the bureaucrats to come up with
a pop quiz at this point in time when New
Zealand's faced with much bigger problems, and on the standard
(13:07):
that are party that promotes itself on the wise spend
of taxpayers money thinks that this is a great thing
to do at this particular juncture of our history. Quite frankly,
it's a waste of money. It should be devoted on more.
Speaker 2 (13:21):
Important Aaron Martin with us this morning, principal lawyer at
New Zealand Immigration Law. Appreciate your time. Twenty three after
five Ryan the number to text now Treasury they've released
a bunch of documents. This is the Minister of Finance
advice that they got from Treasury, you know, they do
the proactive release or they've done a document dump, and
it's from March and April telling us what Treasury was
(13:43):
telling the Minister around the straight offor moves and the
closure in the war. And the worst case scenario for
inflation was seven point four percent. GDP at still up,
but zero point eight percent for the twenty twenty six
Joon quarter and inflation sorry, unemployment at five point seven percent,
so basically really bad. But that is worst case scenario.
(14:05):
And under that scenario they also tell you, which I
hadn't heard before, how much petrol and diesel would cost.
And this is scenario three worst case petrol for quarter two,
the one we're in now five dollars fifty and by
quarter four this year, so the end of this year,
to be down to just under five bucks a liter.
(14:25):
Diesel five dollars eighty five it would cost right now,
and by the end of the year five dollars twelve.
So clearly we are nowhere near the worst case scenario
they were predicting just three weeks ago twenty four after
five News Talks EBB.
Speaker 1 (14:40):
The early edition full the show podcast on iHeartRadio Power by.
Speaker 3 (14:45):
Newstalks IV.
Speaker 2 (14:48):
Five twenty six. Y're on news Talks EBB. The coalition
is failing on two numbers that matter to most of
US voters. The most, inflation is up over three percent,
not as bad as the Aussies, not helped by Trump.
But wage growth two percent this year. The prediction the
cost of buying stuff is going up quicker than we
can afford to pay for it by working our real
(15:09):
wages are basically a bit shite. Sorry be say you know.
When Luxon set the election date in January, he said
people needed to feel the recovery, feel a recovery happening. Well,
they're not. That's why the right track wrong track poll
results look the way that they do. Most of us
reckon that we're heading in the wrong direction because they are,
(15:30):
and people generally and rightly link their individual circumstances to
that of the country. Now, some of you might be
annoyed by this, but these are facts. You can't argue
with them. However, they do not mean labor is getting
back into government. Far from it. Elections are about choices.
Is the other guy hawking as wear has got something
better to offer me? Labour's got three doctors' visits at
(15:53):
already stretched GP clinics at a world of financial and
tax uncertainty with the Greens Anti Party Mardia their site.
As I said from the beginning on this, this coalition
will be re elected because they are relatively stable and
Kiwi's generally mostly give first time as a second shot.
These wage inflation numbers are not good for them, but
(16:16):
not fatal either. The risk of the unknown, the devil
you don't know is, specially during a crisis like this,
will in the end get Luxen re elected Prime Minister.
I still don't think that Kiwi's when they come to
polling booths in November will want to risk getting out
of the frying pan only to end up in the fire.
(16:36):
Ryan Bridge twenty nine minutes after five News Talk said,
be loads of tecks coming in on immigration after our
interview with the lawyer Ryan who becomes a citizen in
New Zealand and what they believe is a fundamental problem
for a nation. There is no bigger issue. Lots of
support for the test that AC party is talking about
and will be introduced by the way. The jobless rate
(16:59):
was downslot the for the March quarter compared to December,
going five point four, down five point three. The Neats
number is the interesting one because this is answers the
question why young people going over to Australia. Well, they've
got jobs and we don't.
Speaker 3 (17:13):
So not in.
Speaker 2 (17:14):
Employment education training that is up to fifteen point nine percent.
It was fourteen point four a year ago. We'll speak
to Nick Tuffley about that before six. Also we'll get
to Trump and what he's saying about Iran. I mean,
it's one day it's says the next day it's that.
But Mitch mccan has the details All ahead.
Speaker 3 (17:41):
News and views you trust to start your day.
Speaker 1 (17:45):
It's early edition with Ryan Bridge and Spark for Business
Technology that keeps business moving.
Speaker 3 (17:51):
News Talk d be.
Speaker 2 (17:53):
Are so bad, are so bad it hurts. It's pretty
well away from six year on news Talk, said the
Nick Tuffley asb on jobs Before six, Mitch McCann and
New York on the war for us. We're back to
the peace talk game this morning. There is apparently a
one page word document that's floating around that someone might sign,
but maybe they won't. Markets are loving it though. As
(18:13):
we woke this morning, Brent crude was down, the futures
down seven percent. To just under one hundred bucks a barrel.
In Europe, stocks were up, the foot Sea in Britain
was up two percent, s and P five hundred up.
Everything up, basically, NASDAK up. In fact, the NASDAK and
the SMP now both reaching for the second week in
a row new record highs. And the whole stock market
(18:37):
in the US at the moment is predicated on two
basic things. One that the war will end soon, that
there will be de escalation rather than escalation. And the
other thing is that the AI hype is real news.
Talk seb it is twenty three to six red some
of your texts and a second Calumns and Eden morning
Callum morning, Right. You've got a problem with the African
(18:58):
feather grass.
Speaker 10 (19:00):
This is a nasty invasive pest, this type of grass.
It's been detected in Otago, prompting urgent control if it's here.
It's been found in four clusters on a property in Herbert,
an area where it hasn't been found before. Herbert a
small town just north of Dunedin on State Highway one.
African feather grass is a tussock grass, very invasive, grows
(19:20):
up to two meters in height, produces large amounts of
seeds that spread quickly and easily, and it crowds out
other species, so you've got to get onto it quick.
The Otaga original council staff have removed the seed heads there.
They've begun treatment to stop its spreading. They say they're
grateful to the residents who reported it so they could
stop it spreading further.
Speaker 2 (19:39):
Hopefully, that's the kind of margrant we don't want. How's
your weather.
Speaker 10 (19:43):
We've got a bit of rain here this morning, but
it clears this afternoon to find spells the high nineteen
nice one.
Speaker 2 (19:48):
Thank you Claire on christ this morning, Claire, good Morning's
going on with your horses?
Speaker 11 (19:52):
Yes, the horses, the old Crusaders horses. They were retired
after thirty years of service from Crusaders' home games. This
happened a week out from the new stadium opening. It
was revealed there was not going to be enough room
for them to safely run around the field. Now, it
was quite curious at the time, given the horsemen confirmed
to us they hadn't actually been in the stadium, let
alone tested the theory and had an analysis about the safety.
(20:14):
There's been a petition for their return. The community has
been desperate for them to come back, saying that the
vibe of the stadium won't be the same, etc. Well, yesterday,
just as we were coming off here here locally, we
got word that the horses were actually at the new stadium.
You should have seen it. It was like rats up drain pipes,
reporters running everywhere heading down there to have a look,
and sure enough the Crusaders were doing the lap. The
(20:35):
iconic Conquest song was playing at the same time. There
were TV cameras spotted there, which is very interesting. And
this was all while the weekly media session was helpening
elsewhere with the players. Now we've hassled the Crusaders, as
spokesperson's confirmed, yes they were doing a physical test at
the new venue. But there's still lots to work through.
But we do know, of course that TVNZ cameras were there.
(20:57):
There is suggestion there's going to be a very big
imminent re veal. There's only three remaining home matches for
the Crusaders, so we're very much watching this space.
Speaker 2 (21:05):
Nice So we're now finished talking about it opening. We're
just going on about the horses that we the.
Speaker 12 (21:10):
Clear will never stop.
Speaker 11 (21:12):
High cloud, a bit of scattered rain about today. Otherwise
northeasterliesan twenty one.
Speaker 2 (21:16):
Nice I'm thank you Mex and went into morning mechs,
good morning. Andrew Little getting some help from business.
Speaker 5 (21:21):
Yeah, the council here certainly does not have a reputation
as being a pro business so well. Initially, to try
to counter that narrative, former Mayor Tori Fano would set
up a business advisory group. If you recall, it didn't work.
People quit. It seemed like it was mostly made up
of a Noah's Ark of people who were either her
mates or had a large Instagram following, and few actual
business leaders. This time, Andrew Little setting up three separate
(21:44):
expert business advisory groups, one for property, infrastructure, housing, a
one for tech, science, education innovation, a one for arts
hospitality in a city seeking expressions of interest to help
develop a growth action plan. I can tell you the
first thing whoever ends up on one of these things
is going to say is lower commercial rates please. There
(22:06):
are ours are among the highest in the country, three
times that of residential I think the response is going
to be, well, we can't do that, but what would you.
Speaker 8 (22:13):
Like us to do?
Speaker 2 (22:14):
Max? How's your weather cloudy? With Drezil gusty nor the
Le's eighteen. Thank you very much. Neva in Auckland, Morning, Neva,
good morning. Well quite a shocking revelation from the former
boss of the CRL.
Speaker 12 (22:24):
Yes, you're quite right. Now he's admitted that the CRRAL
infrastructure project could have been built for half the price now.
It was initially costed at three point four billion, then
skyrocketed to an estimated five point five billion due to
the COVID nineteen pandemic, the scope changes and inflation now
back from two years in Ireland. This is Sean Sweeney
(22:45):
and he's told the Herald he would do things differently
with the CRL if he hit his time again. What
he's basically saying is that look New Zealand isn't very
good at specifying scope is we don't have many of
these projects and so we're over specified and it's making
them too expensive. So there's a big, big story there
in the Herald.
Speaker 2 (23:04):
And you can check it out. How's our weather.
Speaker 12 (23:06):
Partly clouding, isolated showers, still warm. Twenty one is the
high here in Auckland.
Speaker 2 (23:09):
Nice one never think very much. It is nineteen minutes away.
Speaker 3 (23:12):
From six Ryan Bridge.
Speaker 2 (23:13):
There are almost they look like chandeliers in the train
and the subway stations that we will be walking through
come September when this thing opens, And you think, what
on earth do we need those for? In London, I've
just got bricks, you know. Why do we need shandlier
type art installations on the roof? And how much does
that cost to install? No wonder the costs blew out
(23:34):
and not just for that reason. I actually asked Wayne
Brown about this the other week. He said, ye, people
are going down there to catch a train, not get married.
You know, it doesn't need to look flash, does it.
And he's right, Hey, couple of numbers for you. Well, actually,
one quick text this is we had loads of feedback
on the government and not performing well in terms of
wage v inflation. However, doesn't mean that labors are going
(23:58):
to get re elected. We'll get elect did. In fact,
the opposite. This person says, how on earth can any
government get their economy under control with the geopolitical situation
as it is at the moment. I would suggest none. Yeah,
I agree with you, and I think the difference because
this election is going to be there'll be a lot
of oh it's a geopolitical international situation let's blame that.
(24:19):
Labour will then come in and say, well, we have
the same with COVID. There's a big difference. So COVID,
sure the virus, you can't control. What you could control
were your responses to it? Did you need that many lockdowns?
Did you need to do the mandates? Did you need
to do all the restrictions? That's the difference. The geopolitical
(24:40):
stuff you can't control. What they could control is what
people didn't like about them seventeen to six. There's no
denying it. Businesses are under pressure at the moment, and
keeping up in the current market takes innovation, real innovation.
That's why businesses are getting ahead of the crowd and
looking harder at technology that can genuinely improve how they
are because resilience doesn't just happen overnight, you build it.
(25:03):
And that's the conversation Spark is having with its customers
right now. Whether it's smarter connectivity, cloud solutions with scale
and they scale with you, or unlocking the power of
AI to drive better decisions and productivity, Spark is helping
businesses stay ahead of the curve. That's where you want
to be. They're not just selling tech, they're offering real
solutions and real support. It's about making your systems work
(25:26):
together so your people can focus on the day to
day stuff, all that stuff that really matters. So if
you're ready to take the pressure off and move forward
with confidence, talk to Spark for Business. They'll help get
you sorted.
Speaker 1 (25:38):
International correspondence with ends and eye insurance, peace of mind
for New Zealand business.
Speaker 2 (25:45):
Trump says, if they don't agree, the bombing starts again.
But the markets like the sound of talk of a
piece deal. Let's go to Mitch McCann's stateside for US. Mitch,
what do you reckon? Are we getting close here?
Speaker 13 (25:54):
Well, it's hard to know, Ryan, but the investors are
really happy to DOWT is almost back at fifty thousand,
that number Donald Trump often talks about. But it's up
to the Iranians whether or not they agree to this
proposal from the US. It reportedly contains a couple of
interesting provisions here. The deal would involved irun committing to
a moratorium on nuclear enrichment. How long for, we don't know.
(26:17):
It's also reported the deal would include the US agreeing
to lift sanctions and release billions of dollars of frozen
Iranian funds, and both sides would also lift restrictions around
the Strait of Horn moves. Now it could take up
for forty eight hours for the Iranians to decide what
they're going to do here. But as you mentioned, Donald
Trump said, quote, if they don't agree, the bombing starts,
and it will be sadly, at much higher levels and
(26:39):
intensity than it was before.
Speaker 2 (26:41):
That's the threat from the US president. Hey, the state
primary elections were interesting, particularly Indiania, Indiana, and Trump not
doing too bad. Yeah, not at all.
Speaker 13 (26:50):
So several primary elections were held in US states overnight
where Republicans and Democrats pick their candidates for say governor
in the state of Ohio and state Senate seats and Indiana. Now,
these aren't normally exciting races at all Rome, but they
showed the power Donald Trump still has over the Republican
Party because in December, seven Republicans in Indiana refused to
(27:11):
back Donald Trump's plans to redraw redraw district lines to
favor the Republican Party. Now, Donald Trump endorsed challenges against
all seven some sort of retribution, and at least five
of those Trump back candidates won last night. So really
It shows the power he still has with him the GOP.
Speaker 2 (27:30):
Mitch McCann our US corresponding Good TV on the show
This Morning. Mitch is always twelve minutes away.
Speaker 3 (27:34):
From six Ryan Bridge.
Speaker 2 (27:36):
So unemployment came in five point three percent for quarter one.
That was down from five point four percent quarter four
to twenty twenty five, still to feel the full impact
of the war, of course that it did include a
month of it. Youth unemployment is the one you want
to watch. That's up fourteen point four percent from thirteen
point three. Wage growth also out of five year low
two percent. Nick Tuffley Asbchief Economist, Nick, good morning, Good morning.
(27:58):
Worst is yet to come on.
Speaker 14 (28:01):
Well, we do think we'll see a bit of a
hiccup in hiring through the middle parts of this year.
But we've got a view that employment will be sort
of fairly flat rather than something catastrophic. Well, we'll obviously
have to wait and see, but the next quarter or two.
So where we are now and over the next few months,
is it are more the danger zone because that's where
we're in that time where people are ADUs in their
(28:23):
spending habits and being more cautious, and businesses are sort
of deferring or reconsidering decisions or just hunting down to
wait and see for a little bit.
Speaker 2 (28:31):
The young people who are not in work, not training,
all that good stuff, the number going up. Is this
normally what happens when there is problems with employment and
it's the young ones who have the most trouble or
is there something more going on here?
Speaker 14 (28:44):
Well, unfortunately, it's the pattern that we often see because
your younger people are people who have less experience if
they're coming out of say school or university into a
market where hiring is pretty cool. So that's the sort
of environment we've been in for several years. Unfortunately, it's
(29:05):
tough getting that first job that gets you on that
employment ladder. So unfortunately, this is a pattern that we
do tend to see.
Speaker 2 (29:12):
How long before we see wages start topace inflation again, Well.
Speaker 14 (29:18):
At this point, we expect wages are going to be
sort of pretty pretty muted really, so we don't really
see wage growth sort of gathering a lot of steam
and being too much of an inflation problem. So we
expect that wages are going to remain that the growth
of them go remains sort of fairly standing, sort of
roughly where it is. So, Look, we're not in the
(29:38):
environment we were in a few years ago where because
you had super low unemployment, employees scrambling to find people
and paying huge wage increases even though there wasn't any
productivity there. That caused quite a bit of inflation. This
time around, we're not so likely to have that problem,
even though inflation is pretty high, but means that we're
not getting that compensation. So we're speaking their pay packets
(30:02):
for these sort of added fuel costs and some of
the other costs increases.
Speaker 2 (30:06):
The giving with one takes with the other, doesn't it. Nick,
appreciate your time, Nick Tuffley, aspechief Economists. You're on News
Talk SeeDB Ryan Bridge. So over in the States, they've
had their own little jobs update this week. In fact,
they've had one overnight numbers from the human resources firm
ADP because their job park it has been doing well,
especially when you consider what's going on here. However, they've
(30:28):
actually been shedding jobs in the US for five out
of the last twelve months, not a great sign. However,
these new numbers give them some hopes. So private sector
jobs added one hundred and nine thousand for April. That's
the best in fifteen months. Now, Tuesday you had some
labor department numbers. Hiring was picking up considerably higher in
March Friday, the real tests for the Americans. The Labor
(30:50):
Department April jobs report is due eight to six. News
Talk SEB might next.
Speaker 1 (30:57):
Ryan Bridge on early edition with for Business Technology that
Keeps Business Moving News Talks B.
Speaker 2 (31:04):
Sixty six News Talks said B. Despite what Mitch told
us from New York just earlier, the average price of
a gallon of gas over in the US is four
dollars fifty four right now. That is up from three
dollars when the war started. So that is going to
be one of the biggest problems that Trump will have
another number for you this morning. You know, the European
Union of the Brits hated They hated it for a
(31:24):
lot of reasons, but one of the reasons was just
the sheer amount of paperwork and bureaucracy that came with
being part of it. There is a report out this
morning estimates three hundred billion New Zealand dollars is what
paperwork cumulatively, paperwork and bureaucracy and red tape is costing
anyone who is in that block right now doing business.
Speaker 3 (31:45):
Brian Bridge took six.
Speaker 2 (31:47):
And Mike's in the studio. Morning Mike, Greetings, Ryan. Lovely
to see you, even more lovely to see you. Have
you look. I don't imagine you've seen this story, but
it took my fancy. Have you ever been to one
of those hotels where the Brits run like a stampede
for the beach chairs, the deck chairs around the poll.
Speaker 15 (32:06):
That's that's not British, that's that's global.
Speaker 2 (32:09):
Everyone does it.
Speaker 15 (32:10):
Everyone does it. Have you never been to dinner ow
go to dinner our Sometimes it's like it's oh, they
do it literally all over the world. It's the most
disgusting thing I've ever seen. And the German guy, I
have seen the story, you have.
Speaker 2 (32:24):
Seen, he's got some compensation.
Speaker 15 (32:26):
More importantly, he's won.
Speaker 2 (32:27):
He won a thousand pounds off a seven thousand pound
trip with his wife and two kids on a package holiday.
Speaker 15 (32:34):
There's something that's why, it's why. Look, this will make
me sound it is feral, and it makes me sound
like a snob, but we we swore off eg many
years ago for that very thing. Because the whole thing,
it's there's two things I can't stand and that's why
I don't go on cruise. It's poor people, no people,
people who hog lounges from six am in the morning.
(32:56):
And also buffets because people's behavior own buffets is shocking.
Speaker 2 (33:00):
Also after COVID, have we learned nothing? I mean, you
don't want to get around a buffet table with strangers.
Speaker 15 (33:05):
Have you seen is it easy yo or Yo mo
or lovely yo or whatever it is? You go, you
go by your It's like the days of pizza hut.
We used to have the buffet and the ice cream thing.
So there are yoga outlets. Now you go and you
pay by weight, which is your first mistake. Fostered this
the other day. He paid thirty dollars because he brought
about two tons of yoga. Then next to the yogurt machine,
(33:26):
you're just needing that, pulling this leg?
Speaker 2 (33:28):
Are you then eating it in one sitting? It's so
thirty dollars worth of yogat How long was he there?
Speaker 15 (33:34):
About three and a half minutes? You know, he's like anyway,
next to that, you've got the chocolate chips and the
hundreds of thousands, and it's disgusting.
Speaker 2 (33:42):
Do you know one other thing that should not be
done eating in mauls.
Speaker 15 (33:46):
Couldn't agree more. Do you know the Japanese you do
not walk and eat. That's that's the thing you get. Yeah,
and you do not walk and eat because it's just
it's appalling. Also hard to do it with chop sticks. Hey,
my wife went to the movies and we don't have
time for this. Is twenty six.
Speaker 2 (34:00):
To fifty normal for a movie? Yes, in fact, that's cheap.
I paid thirty six dollars the other day.
Speaker 3 (34:05):
See you tomorrow.
Speaker 1 (34:09):
For more from Early Edition with Ryan Bridge. Listen live
to News Talks. It'd be from five am weekdays, or
follow the podcast on iHeartRadio
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