July 8, 2026 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast Thursday the 9th of July 2026, The Reserve Bank has finally pulled the trigger and hiked the OCR 25 basis points, ASB Chief Economist Nick Tuffley shares his thoughts.
Labour's released a similar solar policy to National, John Harman, Director of Lightforce Solar tells Ryan which policy is better.
Wellington's Cake Tin is officially sold out ahead of the All Blacks test against Italy on Saturday, Hurricanes Co-Owner & Chairman Malcolm Gillies shares his thoughts.
Plus, US Correspondent Mitch McCann has the latest on what Trump's said at the NATO summit in Turkey and a New York building collapse.
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Speaker 1 (00:00):
The issues, the interviews and the insight. Ryan Bridge on
early edition with Spark for business Technology that keeps business
moving news talks.
Speaker 2 (00:10):
They'd be good morning and it's Thursday six half for five.
Great to have your company interest rates next moves. That's
our lead this morning. Mitch mccannon's stateside for US, Malcolm Gillies,
Hurricanes co owner, another sell out at the Cakechin. This
is Italy and the ABS. Plus we'll look at the
solar power battle going on between the two big parties
this morning. The agenda Thursday of nineteen July, the sixth
(00:32):
Final Iron is over.
Speaker 3 (00:34):
You know, we hit them hard last night. They launched
a couple of drones and one rocket, one missile and
at chips because they were in the street which have
every rate to be and so we hit them very
hard last night, very very Probably hit them hard again tonight.
I'll give them a little warning we're gonna.
Speaker 4 (00:53):
Hit them right.
Speaker 2 (00:53):
So oil is going up Brent feud Brink crude futures
are up eight percent, so that's now over eighty bucks
a barrel.
Speaker 5 (01:00):
Seeing the impact already on energy prices. People going to
fill up at per petrol station on the fore Court
and see the impact of that. So what's really important
now is, notwithstanding the challenges, that we all focus on
getting back to that seaspar implementing the understanding and playing
our part in getting the straight off hoall moves.
Speaker 2 (01:18):
Open back to NATO Turkey. So you know that Ukraine
has been wanting patriot missiles. Trumpshinted that the Americans might
give the Ukrainians a license to make their own.
Speaker 3 (01:29):
A little birdie told me this about the fact that
we'll give them the right to make patriots, will show
them how to do it. It's very complex, actually, but
it's you'll figure out the perplexity quickly. And we're talking
about that.
Speaker 2 (01:45):
Let's go to the uk Faraj and his bi election.
It's going to be like a one man band because
the Conservatives and Labor at least for their part, has
said they're not having a part of it, not running candidates.
Speaker 6 (01:54):
They have not broken Parliament's rules. However, as a result
of constantly being referred to complained about it now would
appear from the media pylon and for the glogal pasty
Pilon that I'm guilty of virtually everything I've been painted
out to the people in this constituency frankly as being
a crook or to tell you what, I don't think
Sky News or anybody else should be my judge. I
(02:15):
think the voters here in Clacton should have that opportunity.
Speaker 1 (02:20):
The news you need this morning and the in depth
analysis earlier edition with Ryan Bridge and Spark for business
Technology that keeps business moving News Talk z.
Speaker 2 (02:30):
B nine after five nine nine two is the number
to text they this is Labor says that he's basically
Feras going to spend the summer arguing with a rubbish
bin and they want no part of it. Then you
go the soul of power thing. We are going to
talk to somebody about this shortly on the program, but
I just wanted to run you through what happened yesterday
because National came out with their plan. Remember and we
spoke to Simmon Brown about it at the time. National's
(02:53):
solar plan is it is loans or low interest loans.
I remember Simon Brown said you get one or two
who percent off a retail interest rate. As a result
of Nationals plan, seven million dollars is what it will
cost taxpayers. So they're not giving away money. They are
backing loans through banks for people to get solar on
their rooms, et cetera. Labor says, why do loans when
(03:17):
you can just give money away like Oprah Winfrey with
cars seventy seven million dollars in subsidies. This is included
in their plan yesterday. It's free money and installing solar
with or without batteries would be on the cards. Now.
Megan Woods, yesterday, I was listening into this. She said,
the cost of them up to seventy seven million. And
(03:41):
then who gets the money? While they say low income
or medium income, middle income people. But it's a little
bit vague. So the eligibility criteria for this might have
to be strict, not entirely sure yet the grants might
need to be offered on a first come, first serve basis,
which seems fair and doesn't it free money? You know,
(04:04):
run like a lolly scramble. By the way, the money
where is it coming from? Always important question to ask
with this particular party relying on the government's gas fund,
you know, Shane Jones and the two hundred million dollars.
They're going to pinch it from there because they're not
into fossil fuels, of course, pinch it from there. Thank
you very much. We'll take a little bit of that
seventy seven million max. However, if the fund, if the
(04:29):
kitty is empty by the time they get to the election,
the two hundred million dollars, if it has been used
or mostly used, where do they get the money? Well,
Megan Woods was asked and the answer we'll find somewhere
else Frame Bridge eleven after five News Talks. We'll talk
about that, plus the very interested to talk actually this
(04:49):
morning about the rugby because it's it's Lee and it's
the Abs, and it's at the cake tin and it's
the third time that they have filled the cake tin
this year, which is fantastic for them. I mean, obviously
they've had that Hurricans in the final, it'd be hard
not to. But Malcolm Gillies is co owner of the Hurricanes.
He's with us at about twenty past five this morning,
in about ten minutes, came to ask him about that
(05:10):
about the Hurricanes financial position, but also club rugby despite
the fact the Abs are playing in the Capitol this weekend,
do we know club rugby? Because people can't stop abusing
the refs News Talks.
Speaker 1 (05:23):
Hedb the early edition full the Show podcast on iHeartRadio
Power It by News Talks AB on your radio and
online on iHeartRadio Early edition with Ryan Bridge and Spark
for Business Technology that keeps Business Moving News talkshb.
Speaker 2 (05:47):
It is force enough to five year on News Talks
hibb Ryan, enough of you. Auckland is calling at the
cake tin. It's insulting to a great stadium. That's what
it's called. Bob. I didn't make it up and I
am a Wellingtonian. Get off my case. Battle of these
soular power policies happening at the moment between the two
major parties.
Speaker 7 (06:05):
They've basically taken the work that rewiring O I did.
It's good work, and they've put the National Party's logo
on it. Only the Labor Party is able to deliver
the same policy but actually make it cost hundreds of
millions of dollars.
Speaker 2 (06:18):
Right, Let's cut to the case. John Harmon, director of Lightful,
solo with us this morning morning, John Ring Ryan. Whose
is better?
Speaker 8 (06:25):
Well, both of them are very similar. The Labor Party
is just more and what we see in this in
this space, which is more virtue signaling and more politicking.
But it's not going to shift the dial for the average.
Speaker 2 (06:42):
Punter, what would because I mean they're talking about renters here,
they're talking about subsidies here of up to three thousand
dollars to get a couple of panels on your roof.
What would move the dial for renters and for low
income people middle income be able to actually go with solar.
Speaker 8 (07:00):
It's very simple. It's a level playing field with the
retailers of Gentiles and Alliance companies. So they are making
record profits from New Zealanders with high power prices, and
the government itself is rate making record profits from GST,
from dividends and from basically corporate tax and that's not
(07:25):
going to stop. So we want to level playing field
for investors from the little kids, from the little punters
that invest in two panels on their balcony to the
average household which really needs twenty panels to run a house.
And that's symmetrical pricing. So whatever the gentailer charges you
for your power rymes, let's say thirty six censor unit,
(07:48):
well your panel shall get thirty six censor unit from
them when you're not using the power, when you're exporting
it to your neighbor.
Speaker 2 (07:57):
That would move the dial. This is it more costly
I mean you mentioned the lines charges. Is it more
costly to reverse it out? No, not at all. It's easy.
Speaker 8 (08:08):
It's like everywhere in the world has got more solar
than New Zealand, it's just the lines company don't facilitate
it and the gen tailors don't want it because they're
making all the money.
Speaker 2 (08:18):
John Harmon, director of Light four Solar, good to have
you on the show this morning. Sixteen after five, Ryan
Good Morning says this text. Who's going to pay for
the maintenance of the solar installations and ultimately replace them
when they are end of life in seventy ten years time. Well,
presumably once you start, you can't stop. So once you
do it, you'll be once you do it once, you
(08:40):
want to do it forever, and you'll find the money
from somewhere and this well potentially the savings, the magical
savings on your power bill. In the meantime, seventeen after
five News Talk said, b the cake tin filled for
the third time this year. Great news. Wouldn't get many
solar panels on the cake tin, don't get a lot
of sunshine there either, Probably not worth it. We'll speak
(09:01):
to Malcolm Gillies, co owner of the hurricanes.
Speaker 1 (09:03):
Next the Early Edition Full show podcast on iHeartRadio powered
by News Talks at B before the news breaks here
it first Ryan Bridge on Early Edition with Spark for
business Technology that keeps business, Movie News Talks at B.
Speaker 2 (09:20):
Five nine Team we'll deal with the ocr and seven minutes.
We'll do it again in thirty minutes with ASP's Nick
toughly looking ahead to the future. First, Trump not happy
with Spot, never been happy with Spain. Hasn't been happy
with Spain for a very long time. But Pedro Sanchez
really getting under his skin at NATO.
Speaker 3 (09:34):
Spain is a wasted because we don't want to do
any trade business with Spin anymore. By the way, I'd
like you to cut it up Scan.
Speaker 4 (09:40):
Span is a.
Speaker 3 (09:42):
Terrible partner in NATO. They don't participate, they don't pay.
I don't want anything to do with Span. Cut off
all trade with spand liss No.
Speaker 2 (09:52):
Yes, Sanche says. Actually the relationship's doing fine, thank you
very much. Their contribution to NATO two percent. Trump wants
it at five, Sanchez says Brian Bridge. It's the anger right.
Wellington's Caketon officially sold out ahead of Saturday's All Blacks
test against Italy, which is great news. Third time the
cake Tin, if we can call it that. Henry Stadium
has been sold out in Wellington for twenty twenty six.
(10:14):
Malcolm Gillies, Hurricanes co owner and chairman, I'll fill the
tin campaign creator is with us this morning. Good morning, Malcolm, Yeah,
good morning. Okay, great news.
Speaker 9 (10:25):
Yeah it is, isn't it. Yeah, we've got a great
marketing team. We can't take credit for that. Filled the
term to the brim. That was their marketing guys, and
yeah it was a great, great marketing campaign.
Speaker 2 (10:36):
Yew is there something wrong with calling it the Caketon.
I've had lots of texts this morning. I thought that's
what we called it, Malcolm.
Speaker 9 (10:42):
I think call it what you like. I mean, it's
you know, the sponsor Henry Stadium. I mean Henry, the
guy that owns Henry. He said, great guy, you're very
very positive about changes. You know that he wants to
bring to help bring people back to the cake Tin.
But no, I think that the name's been there, always has.
Speaker 2 (11:03):
Been Rugby's cranking and Wellington at the moment. But I
did look back. There was an injury you did last year.
You talked about the Hurricanes and the loss of financial losses.
Has the win for the for this season is that
helped to turn things around for.
Speaker 9 (11:18):
Them, well, most certainly, but even before that things that
financially we're on the right track. We turned it right
round this year, I think will be we would have
turned it around to a profit. So you know, we've
been we've been very blessed with the support that we've
managed to get back from our from our fans. But
I think main needs and probably could contribute to why
(11:41):
the All Blacks have filled the cake tin as well
as the Hurricanes were playing a fantastic brand of rugby,
really entertaining, and I think you know that that final
would have to be the best final, best game of rugby,
I think most people have ever seen. It was just
fantastic and you got what you got eleven and the
All Blacks. So hopefully, you know, we're going to start
(12:02):
seeing some more of that entertaining rugby and that's what
people come to look for.
Speaker 2 (12:05):
It is, isn't it. I Mean people love to back
winners and clearly there are a lot of winners in
Wellington right now. What about club rugby. I've been reading
with some concern this week about the you know, despite
the fact we'll have the ABS in Italy playing at
the cake Tin, we've got no club rugby because of
apparently there's abuse going on with the rest.
Speaker 9 (12:26):
Well, you know, look, we can't tolerate it. It's just
there's no place in sport for that type of behavior.
So I say, good on the rest, you know, put
your foot down. I mean, they don't get paid and
they don't have to put up with that sort of nonsense.
And maybe you know, I mean it's pretty radical when
I heard of Kraky Dick. You know, that's really that's
(12:47):
a good you know, that's pretty out there. But look,
you know it's not it's not tolerant. We can't tolerate
that sort of behavior.
Speaker 2 (12:55):
Malcolm. I'm from Wellington and Wellington hasn't been fantastic when
it comes to super rugby for for a wee while,
or we haven't won for a wee while. What's turned
it around? Like, how where is this as you described
a fantastic style of rugby come from.
Speaker 9 (13:12):
Well, you've got to really, I mean, obviously it wasn't
just myself and our board in one year. You can't,
you know, we can't say it was just us. I
think we added to it, but I think if you
looked at it, it had been building for quite some time.
I think the Hurricanes had recruited well over the last
number of years. They've got a fantastic coaching unit with
(13:32):
Clark and Corey, Jane and Whopper, and it had been building.
It was just quietly there, and I think what we
did probably was give it the ability to come out. So,
you know, it's it's been an exciting time and I
think next year, I mean, the proof and the putting
is can we turn it around? Can we go back
to back? And that's what's going to be exciting, because
if we can, you know, then then obviously we have
(13:54):
got something there. But we've got a wonderful culture. Now
it feels good. You only got to look our girls.
I mean, our girls hadn't won a game in two years.
They'd won two games in a row. And when you
watch them play, you know they're in with a hunt,
they're in with a chance to win that comp they're
playing some great rugby and they're having fun. So you know,
(14:16):
wouldn't that be excited? Men and women? The good win
both good.
Speaker 2 (14:20):
To have goals there. Malcolm Gillies Hurricanes co owner with us.
This morning time is twenty four after five. I did
watch the women play. Actually they beat the Blues last Saturday.
This was before the Avs and the French and beat
the Blues and I think it was their first back
to back whenever, so they were very ever excited after
the game. Now Germany carmakers they're freaking out about China's evs.
(14:42):
I mean they have been slowly freaking out like the
frog and boiling water for a while, but now it's
like alarm bells because Chinese evs are flooding the market.
Your byds, glees, people love them and people buy them.
And now they have this problem where European car production
capacity exceeds demand by more than five million vehicles a year.
So basically the Europeans are making five million more cars
(15:05):
per year than people are buying that are at current
prices anyway, So what do you do? Start cutting the price,
then you're not making a profit or you've got a
bigger problem. And the German car industry is saying we
have a bigger problem. Volkswagen's cutting one hundred thousand jobs.
There are protests happening across Germany about this right now.
(15:25):
What they're going to do about it is anyone's guess,
and there's no solid plan from this group that's come
out to talk about it other than hey, this is
a worry. This is a backbone of the German economy.
Three million people directly are indirectly employed by it, and
the Chinese are undercutting US twenty five after five, the
ocr next five twenty eight. The problem with bashing the
(15:46):
RBNZ in real time is that nobody really knows how
badly they might have cot something up until well after
the cocking has happened. There weren't many, though not none,
chiding or for low rates until it was bleedingly obvious
in the actual data and what Prince Harry would term
lived experience that prices were on the March under the
previous lot. The rbian's edits decided to hike. Now they'll
(16:08):
probably do another one in September, assuming Trump's cease fire
polls is just that, and beyond September it was pretty
much anyone's guess. One argument is that they'll hike in September,
hold in October ahead of the election in November, even
though they shouldn't worry about it and then stick their
finger in the air for December. Either way, we're heading
towards either two point seventy five or three percent by Christmas.
(16:29):
Most of this has been priced into wholesale r rates,
so we shouldn't care too much unless you're on a
floating The justification for the hike, as has been pointed
out by a couple of economists, is easier to swallow now.
For them to come out and say we're hiking now
because the economy is on the up plus a bit
of war pricing potential. That's a lot easier to stomach
than that we're hiking now even though there's no growth.
(16:52):
Welcome to stagflation Nation. Tony Alexander makes the point that
the bank has been criticized in the past for hiking
too late, leading is get away and then over correcting
on rates, causing a recession. I like to think that
he's right. I like to believe Tony's predictions, and I
hope that they come true one maybe two little hits
(17:14):
early on, which is where we are now, and then
no need to overcorrect and crush ourselves later. In the piece,
you're on news Talks eb it is twenty nine after five,
we're stateside with Mitch mccahn.
Speaker 1 (17:27):
Next the Early Edition Full The Show podcast on iHeartRadio.
Power by News Talks it B.
Speaker 4 (17:39):
News and Views you.
Speaker 1 (17:40):
Trust to start your day. It's Early Edition with Ryan
Bridge and Spark for Business Technology that keeps business moving.
Speaker 2 (17:48):
News Talks EB. It is twenty four away from sixerre
on News Talks. They'll be coming up. We'll head stateside
with Mitch mccahn. Get the latest on the ceasefire. It's over.
If you're just waking up, great news. What's it doing
to the price of oil? What's it going to do
(18:10):
to the price of petrol? That's our question for this morning.
Brent crude is up. It was over eighty bucks a barrel.
It's come back a little bit from there. At its peak,
it was up eight percent overnight now about four point
nine or roughly five percent. This is an increase on yesterday,
by the way, not on pre war. Pre war are
up now quite a bit. However, well we came down
(18:30):
quite a bit, didn't we up until twenty four hours ago.
US stocks are in the red overnight. Don't worry this
a little change Trumps will have as little Tis and
we'll move on. It's interesting watching the stocks though. Yesterday
the AI stocks, well, people were saying, have they gone
too far? And let's pull back, and some of the
money was pulling back off of them, let's retreat into
safer things like healthcare. And then and then the war
(18:53):
pokes its head up again and people go, oh, let's
respond to that. So we're basically oscillating at the moment
between are we do we think AI is overpriced and
then all the war? Do we think AI is overpriced?
And then all the war. That's what the market's doing
for the last couple of weeks. It is twenty three
to six, Ryan Bridge, all lots of texts, Ryan, what
is that text to talking about my solar system is
(19:15):
fifteen years old, still going strong, five to seven year replacement.
Sounds like a doing your own research sort of thing.
This is interesting from Lisa Ryan. Good morning, morning, Lisa.
Regarding solar panels and sunshine hours, I've just looked up
the top twenty New Zealand locations. The interesting thing is
there is a major variance across the list. The other
interesting fact Wellington is two places ahead of Auckland in
(19:39):
annual sunshine hours. I wouldn't have thought that, Lisa. I
will take you at your word. Maybe load up the
Caketon with solar panels after all. And another person here
says on the we've been debating whether you can call
it the Caketon anymore. After a few texts got angry.
This person says, Ryan, you don't call it the Caketon
only opens. Do we call it the stadium? Well that's
(20:01):
good for you, but you're what stadium? You know for
the rest of the county. Where are you talking about?
Speaker 3 (20:07):
It's like when you.
Speaker 2 (20:07):
Listen to talk back and someone says, oh, I'm down
on Williamson Street. Where which part of New Zealand please?
Twenty two to six Bryan Bridge, our reporters Callum and
Dunedin Morning Callum wanting right, well, we're talking about forsythe Bar.
We know where that is?
Speaker 10 (20:26):
We do?
Speaker 3 (20:27):
We do?
Speaker 2 (20:27):
Although it hasn't been used a lot lately. Our poor
old stadium here.
Speaker 11 (20:31):
The venue has really struggled to attract major events in
recent years, but it's about to host one of Dunedin's
biggest community celebrations. Forsyth Bar Stadium will now host tomorrow's
Martiniki Marpoo Arkifestival here. After all, the rain here this week,
which is still falling, by the way, made the original
outdoors sites unsafe, so it's been moved indoors to the stadium.
Speaker 2 (20:52):
It's a free event.
Speaker 11 (20:53):
The drone shows will still take place outside on the
nearby fields. Organizers say the stadium's a safe, comfortable space
for the community to come and celebrate Martiniki and Ryan.
This comes as residents and leaders pushed for the stadium
to be used more for these types of community events
due to the lack of concerts and international sport here.
(21:14):
There is a new stadium boss, Phil Kings's name. He's
been reported as promising a quote golden era of events,
fantastic on the on the way for Zanita here. How's
your forecast today? Partly cloudy, few showers and eight is
the high today?
Speaker 2 (21:27):
Nice one. Thank you Claires and christ this morning. Claire,
good morning. I cannot wait for you to tell me
about the Canterbury Provincial Council buildings.
Speaker 10 (21:34):
That's one of those things that no one knows what
on earth they are, but council has now opened expressions
of interest for what to do with the quake damaged buildings.
They've obviously sat pretty untouched since the twenty eleven quakes.
General Manager of Citizens in Community Andrew Rutledge says the
buildings are a unique asset and they were previously used
for many commercial purposes. They now want to look at
(21:54):
what to do with them in the future. They're looking
for these expressions of interest right through until next month.
Speaker 2 (22:00):
How's your weather clear?
Speaker 12 (22:01):
I'm at a.
Speaker 10 (22:01):
Rainbolt today, southerlyas gusty and the high will be eight.
Speaker 2 (22:04):
You enjoy yourself a nice long weekend to beus in Wellington.
Hate to bes morning, Ryan, I call it the cake
tin affair.
Speaker 13 (22:10):
Helps.
Speaker 2 (22:11):
Oh, there we go, and are you from Wellington or
did you move there for work?
Speaker 14 (22:14):
Born and raised?
Speaker 2 (22:15):
Oh fantastic, there we go, offending no one. How's the
more point situation going? So there was an overflow within
a day of the whole meltdown?
Speaker 14 (22:25):
Yes, So this is from an incident report released to
news Talks. They'd be under the local government Official Information
and Meetings Act. It shows crews were forced to abandon
work after a high flow alarm was triggered on February
the third.
Speaker 12 (22:38):
So.
Speaker 14 (22:38):
It reported wastewater was flowing from an isolated channel undergoing maintenance.
A consultant then wrote that teams took lunch and monitored
the conditions to see if flows would cecil, but they
didn't and the decision was made to shut the site down,
with works finishing at four pm. Less than twelve hours later,
the plant flooded, which caused the tens of millions of
dollars of damage, sending raw, untreated wastewater into the city
(23:00):
south Coast, a new water entity Tiaki wide. They haven't
responded to our request for interview.
Speaker 2 (23:06):
How's your weather.
Speaker 14 (23:07):
It's not nice out there today. Periods of heavy rain,
southeastly is gusting around one hundred kilometers an hour and
nine degrees are high.
Speaker 2 (23:13):
Enjoy the cake ten This weekend to be a sneva
in Auckland. Good morning, never morning. Train's not running for
the rest of the week.
Speaker 15 (23:20):
Yes, correct. Now, this is going to make way for
the City rail Link dress rehearsal, dinner and network upgrades
as well. So what's going to happen from today through
to the long weekend. More work is going to be
done towards the CRL opening, the date still to be
confirmed as we all know, and the safer level crossings also.
It will include you know, work on the new station bridges,
trek renewals and year and a few other things. At
(23:43):
says that they're also going to be running today the
full Monday to Friday structure for one day only today,
just to give you know, the four hundred staff a
final opportunity, you know, to get to grips with what
they're going to be doing when it all opens.
Speaker 2 (23:56):
Well, hopefully all Run's plan was it does open. How's
our weather, parly cloud?
Speaker 15 (24:00):
A few shells from late morning are fourteen the high
here in Auckland's.
Speaker 2 (24:04):
Yeah, but you enjoy yourself a nice long weekend role.
As they'd break for you eighteen minutes away from six
year on news talks, they'd be very quickly high necked.
The South Korean memory chip maker, we've spoken about them
a couple of times because while they're just going gangbusters,
and they on Friday listed on the Nasdaq in America
apparently several times over subscribed. This listing was and hoping
(24:27):
to raise around twenty eight billion dollars, which would make
this the largest ever initial listing by a foreign company
in US history. Shows you the power of the chip
seventeen to six as online threats continue to evolve, so
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working quietly behind the scenes to keep your business moving.
Join the network helping to protect New Zealand businesses. If
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Speaker 1 (25:41):
International correspondence with ends and eye insurance, feace of mind
for New Zealand business.
Speaker 2 (25:48):
Right, just got to Mitch mccan stateside for US fourteen
minutes away from six Trumps being speaking on around this
is at NATO.
Speaker 3 (25:54):
Everything's gone. The leaders are gone. At Leaders they're gone.
And they had another set of leaders. They're gone. Now
they have another sat leaders there maybe going who knows,
And you know what I may be going to because
I'm their number one target. It's all over the place.
I'm the number one because they're scum. That's the way
they act.
Speaker 2 (26:13):
Right, Let's go to Mitch. Now, Mitch, is this a blitz?
Ceasefires over for now? Is this a blip or you know,
is it going to be back to war?
Speaker 12 (26:21):
Well, it's hard to know, Ryan, because it's constantly back
and forth with Donald Trump. What we expected was that
he would make a series of strong statements about NATO,
Wilen Turkey, But perhaps we did not expect that he
would all but rip up the ceasefire agreement and restart
this war. In the last ninety minutes, Ryan, Donald Trump
has called Iran evil, sick people, scum, liars and cuckoo,
(26:42):
and the reason this is flaring up again is that
Washington sees Iran struck three innocent commercial vessels in the
strain of will moves, so they responded by launching a
series of strikes against Iran overnight. Now the markets here
are reacting that Dow Jones has dropped six hundred points
in the last couple of hours, Brent cruders back towards
eighty dollars a barrel, and Ryan. The important thing to
watch next is what decisions Donald Trump makes about more strikes.
(27:05):
He said that he will probably hit a run hard
again tonight, and that he told his officials don't touch
the oil because maybe we'll take over carg Island.
Speaker 3 (27:13):
Now.
Speaker 12 (27:13):
Carg Island is the seaport that handles up to ninety
percent of Iran's oil exports.
Speaker 2 (27:19):
What about Leaning Tower or apartment block in New York City?
What's happening?
Speaker 12 (27:25):
Yeah, this is a large building that's a commercial building
being transformed into a residential building. Emergency services were called
yesterday when bricks were reported to be falling from it.
It turned out that two still beams on the twenty
first floor had buckled, which led to concerns of a
partial collapse. Now they've been in the overnight and today
they say they've stabilized the building timborarily, but many streets
(27:48):
and buildings have still been evacuated and caughted off here
in midtown Manhattan, and that means for thousands of people
they can't go back inside, including tourists who are on
holiday here who can't get their passports in their bags
to make their flights home. So officials are confident it's
been stabilized, but many questions over this building in the
long term run.
Speaker 2 (28:07):
All right, Mitch, thank you. Mitch McCann our US correspondent.
Time is eleven away from six Bridge, brich So the
Reserve Bank. This is before obviously Trump through the ceasefire
in the bin. However, yesterday they have hike twenty five
bases points up to two and a half percent. His
art of Bremen.
Speaker 13 (28:22):
Some of the effects from the conflict are still there
and they will linger for some time.
Speaker 2 (28:26):
So there's a risk here that we get more persistence
and inflation. Lectathely with us saying spechief economists, Nick, good morning,
good morning. I mean, this is the thing. You're making judgments,
and you're making calls and line wall calls in the
midst of a war and a very shaky ceasefire.
Speaker 13 (28:43):
Yes, it doesn't help, and it's one of the things
that Reserve banks had to grapple worth was the last
three decisions that it has made, where it's done it
with this cloud of war and uncertainty hanging over it.
Speaker 2 (28:56):
So what do they do next? Do you reckon another
hike still in September and then crouch, pause and hold
and see what happens after the election or what.
Speaker 13 (29:06):
We do think the Reserve Bank will steadily lift interest
rates over the rest of the year, so that would
get the Reserve Bank and it's cashtraight back to three
hundre quarter percent by the end of the year. But
we do think there is a risk that they do
pause along the way, but it's having done one and started,
we do think it's very likely that they'll follow through
in September and then they can keep looking at the
(29:29):
lay of the land and work out the pace of
which to titan after that.
Speaker 2 (29:33):
Because obviously the election is in November and they're not
meant to pay attentions to elect they're meant to be
sort of agnostic. Who cares. We will do what we
will do regardless of an election, but dip down, they
must have it quite firmly in the back of their mind.
Speaker 13 (29:47):
Well, at the end of the day, the Reserve Bank's
got a clear job to do, and what we have
seen in the pastes is that the Reserve Bank will
do what it thinks is the right thing to do
for its inflation target. It's already started lifting interest rates,
so you know, any political sensitivity around that, whether it
to start that or not, is already already out the window.
So they'll respond to what they see. By the time
(30:09):
you get through to the September window, we'll have had
some inflation data, but we still won't know how the
economy fared over that sort of second quarter which is
now just behind us. So they will also be wanting
to see what signs of life we're getting out of
the economy, because that's the thing we've hit the pause button.
We are seeing some early good signs of consumer confidence,
business confidence picking up, but we still won't know quite
(30:33):
what that strength of recovery is going to be like
and how that will influence inflation as well.
Speaker 2 (30:37):
Nick Touughly asb chief economists with us this morning time
is nine minutes away from six of course, there are
plenty of people texting in the program right now saying
that it is way too really to be hiking rates.
As Nick just said, Yeah, confidence has been up, but
then confidence was down in the last surveys because of
what's happened in the Middle East. It's up and down
and up and down, and the recovery doesn't feel like
it's happening yet, even though on a numbers basis that
(30:59):
is and while and then probably is again now now
is not the time to be hiking rates. But that
is not the Reserve Bank's concern, isn't it the Reserve Bank?
It is looking at one number, and basically one number
only in that's inflation. Eight to six MinC.
Speaker 1 (31:13):
Next Ryan Bridge on early edition with Spark for Business
Technology that keeps Business Moving News TALKSB.
Speaker 2 (31:21):
It is six to six News TALKSB. So both parties
National and Labor been accused of faking a podcast in
their election advertising campaigns. This is some of the goal
that you get from the fake podcasts.
Speaker 7 (31:33):
It don't improve education for kids by cutting the number
of people who are supporting schools to do a really
good job of educating our kids. Here, that's exactly what
this government have been trying to do.
Speaker 16 (31:44):
Costs one point two million dollars to build a classroom,
a standard classroom in New Zealand. Now that's more expensive
than the average.
Speaker 4 (31:51):
House in this country.
Speaker 16 (31:52):
And by standardizing the designs, by fixing the basics, by
better management, we've been able to have the cost of
the class.
Speaker 2 (31:59):
As a story out complaining about this because it sort
of looks like someone's interviewing them when it's really an
in house thing and probably one of their staff is
interviewing them. A big deal, who cares not? Really? It
is five two.
Speaker 4 (32:11):
Ryan Bridge, Ryan, how, I very well? Thank you?
Speaker 17 (32:16):
Do you reckon that coat? Which is a nice can
I just say for people not watching online? And I
assume there's several of them, it's it's what you'd call
a camel.
Speaker 2 (32:25):
You like it very much?
Speaker 17 (32:26):
So my husband hates that terrible color we see see
now there's so I wanted a camel jacket for years
and have been prevented from it because my wife says
it doesn't suit my complexion.
Speaker 2 (32:38):
Wish she's got a point. You're maybe a little pale.
Speaker 4 (32:42):
Do you think so? I look?
Speaker 17 (32:47):
So you would agree with it because it's one of
it's one of those staples in a wardrobe.
Speaker 4 (32:50):
Yeah, you might think, I think you mean to have
a bit of a bit of a tan bit of color.
Speaker 2 (32:56):
But I mean, I don't know. My husband thinks it's
a terrible color on me. But I like the shape.
Speaker 4 (33:01):
Do you like the shape of the shape of It's good?
Speaker 3 (33:02):
Is it?
Speaker 4 (33:03):
Did you get it made?
Speaker 2 (33:04):
Or is it just? Do you know where this is from?
It's about seven years old? Zara? Of course it is.
Speaker 16 (33:10):
Yeah.
Speaker 4 (33:10):
Are you do you shop at Zara with pride?
Speaker 2 (33:12):
Well? I don't stop there anymore. I find the clothes
now a little bit too small. There's a lot about
what's half my physical.
Speaker 4 (33:21):
What's happened there?
Speaker 17 (33:22):
Nikola, Willis and Bramman yesterday? Were you a holder of
a hiker?
Speaker 8 (33:26):
I was? I was.
Speaker 2 (33:28):
I'm not sure.
Speaker 4 (33:29):
You weren't sure? I no, you don't want to be
on the fence.
Speaker 2 (33:32):
I mean, and my gut was like, they need to
probably do a little get one under the belt. But
then your heart says, don't don't kick us while we're down.
Speaker 4 (33:41):
That's my view too.
Speaker 14 (33:42):
Yeah.
Speaker 17 (33:43):
See what I found most surprising is and no one
picked us up yesterday. It was consensus folk. Yeah, everyone,
So the market wasn't a consensus. Market was divided. So
if the market's divided, why isn't the committee divided? See
now that's an interesting point, isn't it? With the governor
this morning on the program.
Speaker 2 (34:00):
And do you know what you should get for doing that?
The Camel Coach Tuesday.
Speaker 1 (34:08):
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. Ryan Bridge on
early edition with Spark for business Technology that keeps business
moving news talks.
Speaker 2 (00:10):
They'd be good morning and it's Thursday six half for five.
Great to have your company interest rates next moves. That's
our lead this morning. Mitch mccannon's stateside for US, Malcolm Gillies,
Hurricanes co owner, another sell out at the Cakechin. This
is Italy and the ABS. Plus we'll look at the
solar power battle going on between the two big parties
this morning. The agenda Thursday of nineteen July, the sixth
(00:32):
Final Iron is over.
Speaker 3 (00:34):
You know, we hit them hard last night. They launched
a couple of drones and one rocket, one missile and
at chips because they were in the street which have
every rate to be and so we hit them very
hard last night, very very Probably hit them hard again tonight.
I'll give them a little warning we're gonna.
Speaker 4 (00:53):
Hit them right.
Speaker 2 (00:53):
So oil is going up Brent feud Brink crude futures
are up eight percent, so that's now over eighty bucks
a barrel.
Speaker 5 (01:00):
Seeing the impact already on energy prices. People going to
fill up at per petrol station on the fore Court
and see the impact of that. So what's really important
now is, notwithstanding the challenges, that we all focus on
getting back to that seaspar implementing the understanding and playing
our part in getting the straight off hoall moves.
Speaker 2 (01:18):
Open back to NATO Turkey. So you know that Ukraine
has been wanting patriot missiles. Trumpshinted that the Americans might
give the Ukrainians a license to make their own.
Speaker 3 (01:29):
A little birdie told me this about the fact that
we'll give them the right to make patriots, will show
them how to do it. It's very complex, actually, but
it's you'll figure out the perplexity quickly. And we're talking
about that.
Speaker 2 (01:45):
Let's go to the uk Faraj and his bi election.
It's going to be like a one man band because
the Conservatives and Labor at least for their part, has
said they're not having a part of it, not running candidates.
Speaker 6 (01:54):
They have not broken Parliament's rules. However, as a result
of constantly being referred to complained about it now would
appear from the media pylon and for the glogal pasty
Pilon that I'm guilty of virtually everything I've been painted
out to the people in this constituency frankly as being
a crook or to tell you what, I don't think
Sky News or anybody else should be my judge. I
(02:15):
think the voters here in Clacton should have that opportunity.
Speaker 1 (02:20):
The news you need this morning and the in depth
analysis earlier edition with Ryan Bridge and Spark for business
Technology that keeps business moving News Talk z.
Speaker 2 (02:30):
B nine after five nine nine two is the number
to text they this is Labor says that he's basically
Feras going to spend the summer arguing with a rubbish
bin and they want no part of it. Then you
go the soul of power thing. We are going to
talk to somebody about this shortly on the program, but
I just wanted to run you through what happened yesterday
because National came out with their plan. Remember and we
spoke to Simmon Brown about it at the time. National's
(02:53):
solar plan is it is loans or low interest loans.
I remember Simon Brown said you get one or two
who percent off a retail interest rate. As a result
of Nationals plan, seven million dollars is what it will
cost taxpayers. So they're not giving away money. They are
backing loans through banks for people to get solar on
their rooms, et cetera. Labor says, why do loans when
(03:17):
you can just give money away like Oprah Winfrey with
cars seventy seven million dollars in subsidies. This is included
in their plan yesterday. It's free money and installing solar
with or without batteries would be on the cards. Now.
Megan Woods, yesterday, I was listening into this. She said,
the cost of them up to seventy seven million. And
(03:41):
then who gets the money? While they say low income
or medium income, middle income people. But it's a little
bit vague. So the eligibility criteria for this might have
to be strict, not entirely sure yet the grants might
need to be offered on a first come, first serve basis,
which seems fair and doesn't it free money? You know,
(04:04):
run like a lolly scramble. By the way, the money
where is it coming from? Always important question to ask
with this particular party relying on the government's gas fund,
you know, Shane Jones and the two hundred million dollars.
They're going to pinch it from there because they're not
into fossil fuels, of course, pinch it from there. Thank
you very much. We'll take a little bit of that
seventy seven million max. However, if the fund, if the
(04:29):
kitty is empty by the time they get to the election,
the two hundred million dollars, if it has been used
or mostly used, where do they get the money? Well,
Megan Woods was asked and the answer we'll find somewhere
else Frame Bridge eleven after five News Talks. We'll talk
about that, plus the very interested to talk actually this
(04:49):
morning about the rugby because it's it's Lee and it's
the Abs, and it's at the cake tin and it's
the third time that they have filled the cake tin
this year, which is fantastic for them. I mean, obviously
they've had that Hurricans in the final, it'd be hard
not to. But Malcolm Gillies is co owner of the Hurricanes.
He's with us at about twenty past five this morning,
in about ten minutes, came to ask him about that
(05:10):
about the Hurricanes financial position, but also club rugby despite
the fact the Abs are playing in the Capitol this weekend,
do we know club rugby? Because people can't stop abusing
the refs News Talks.
Speaker 1 (05:23):
Hedb the early edition full the Show podcast on iHeartRadio
Power It by News Talks AB on your radio and
online on iHeartRadio Early edition with Ryan Bridge and Spark
for Business Technology that keeps Business Moving News talkshb.
Speaker 2 (05:47):
It is force enough to five year on News Talks
hibb Ryan, enough of you. Auckland is calling at the
cake tin. It's insulting to a great stadium. That's what
it's called. Bob. I didn't make it up and I
am a Wellingtonian. Get off my case. Battle of these
soular power policies happening at the moment between the two
major parties.
Speaker 7 (06:05):
They've basically taken the work that rewiring O I did.
It's good work, and they've put the National Party's logo
on it. Only the Labor Party is able to deliver
the same policy but actually make it cost hundreds of
millions of dollars.
Speaker 2 (06:18):
Right, Let's cut to the case. John Harmon, director of Lightful,
solo with us this morning morning, John Ring Ryan. Whose
is better?
Speaker 8 (06:25):
Well, both of them are very similar. The Labor Party
is just more and what we see in this in
this space, which is more virtue signaling and more politicking.
But it's not going to shift the dial for the average.
Speaker 2 (06:42):
Punter, what would because I mean they're talking about renters here,
they're talking about subsidies here of up to three thousand
dollars to get a couple of panels on your roof.
What would move the dial for renters and for low
income people middle income be able to actually go with solar.
Speaker 8 (07:00):
It's very simple. It's a level playing field with the
retailers of Gentiles and Alliance companies. So they are making
record profits from New Zealanders with high power prices, and
the government itself is rate making record profits from GST,
from dividends and from basically corporate tax and that's not
(07:25):
going to stop. So we want to level playing field
for investors from the little kids, from the little punters
that invest in two panels on their balcony to the
average household which really needs twenty panels to run a house.
And that's symmetrical pricing. So whatever the gentailer charges you
for your power rymes, let's say thirty six censor unit,
(07:48):
well your panel shall get thirty six censor unit from
them when you're not using the power, when you're exporting
it to your neighbor.
Speaker 2 (07:57):
That would move the dial. This is it more costly
I mean you mentioned the lines charges. Is it more
costly to reverse it out? No, not at all. It's easy.
Speaker 8 (08:08):
It's like everywhere in the world has got more solar
than New Zealand, it's just the lines company don't facilitate
it and the gen tailors don't want it because they're
making all the money.
Speaker 2 (08:18):
John Harmon, director of Light four Solar, good to have
you on the show this morning. Sixteen after five, Ryan
Good Morning says this text. Who's going to pay for
the maintenance of the solar installations and ultimately replace them
when they are end of life in seventy ten years time. Well,
presumably once you start, you can't stop. So once you
do it, you'll be once you do it once, you
(08:40):
want to do it forever, and you'll find the money
from somewhere and this well potentially the savings, the magical
savings on your power bill. In the meantime, seventeen after
five News Talk said, b the cake tin filled for
the third time this year. Great news. Wouldn't get many
solar panels on the cake tin, don't get a lot
of sunshine there either, Probably not worth it. We'll speak
(09:01):
to Malcolm Gillies, co owner of the hurricanes.
Speaker 1 (09:03):
Next the Early Edition Full show podcast on iHeartRadio powered
by News Talks at B before the news breaks here
it first Ryan Bridge on Early Edition with Spark for
business Technology that keeps business, Movie News Talks at B.
Speaker 2 (09:20):
Five nine Team we'll deal with the ocr and seven minutes.
We'll do it again in thirty minutes with ASP's Nick
toughly looking ahead to the future. First, Trump not happy
with Spot, never been happy with Spain. Hasn't been happy
with Spain for a very long time. But Pedro Sanchez
really getting under his skin at NATO.
Speaker 3 (09:34):
Spain is a wasted because we don't want to do
any trade business with Spin anymore. By the way, I'd
like you to cut it up Scan.
Speaker 4 (09:40):
Span is a.
Speaker 3 (09:42):
Terrible partner in NATO. They don't participate, they don't pay.
I don't want anything to do with Span. Cut off
all trade with spand liss No.
Speaker 2 (09:52):
Yes, Sanche says. Actually the relationship's doing fine, thank you
very much. Their contribution to NATO two percent. Trump wants
it at five, Sanchez says Brian Bridge. It's the anger right.
Wellington's Caketon officially sold out ahead of Saturday's All Blacks
test against Italy, which is great news. Third time the
cake Tin, if we can call it that. Henry Stadium
has been sold out in Wellington for twenty twenty six.
(10:14):
Malcolm Gillies, Hurricanes co owner and chairman, I'll fill the
tin campaign creator is with us this morning. Good morning, Malcolm, Yeah,
good morning. Okay, great news.
Speaker 9 (10:25):
Yeah it is, isn't it. Yeah, we've got a great
marketing team. We can't take credit for that. Filled the
term to the brim. That was their marketing guys, and
yeah it was a great, great marketing campaign.
Speaker 2 (10:36):
Yew is there something wrong with calling it the Caketon.
I've had lots of texts this morning. I thought that's
what we called it, Malcolm.
Speaker 9 (10:42):
I think call it what you like. I mean, it's
you know, the sponsor Henry Stadium. I mean Henry, the
guy that owns Henry. He said, great guy, you're very
very positive about changes. You know that he wants to
bring to help bring people back to the cake Tin.
But no, I think that the name's been there, always has.
Speaker 2 (11:03):
Been Rugby's cranking and Wellington at the moment. But I
did look back. There was an injury you did last year.
You talked about the Hurricanes and the loss of financial losses.
Has the win for the for this season is that
helped to turn things around for.
Speaker 9 (11:18):
Them, well, most certainly, but even before that things that
financially we're on the right track. We turned it right
round this year, I think will be we would have
turned it around to a profit. So you know, we've
been we've been very blessed with the support that we've
managed to get back from our from our fans. But
I think main needs and probably could contribute to why
(11:41):
the All Blacks have filled the cake tin as well
as the Hurricanes were playing a fantastic brand of rugby,
really entertaining, and I think you know that that final
would have to be the best final, best game of rugby,
I think most people have ever seen. It was just
fantastic and you got what you got eleven and the
All Blacks. So hopefully, you know, we're going to start
(12:02):
seeing some more of that entertaining rugby and that's what
people come to look for.
Speaker 2 (12:05):
It is, isn't it. I Mean people love to back
winners and clearly there are a lot of winners in
Wellington right now. What about club rugby. I've been reading
with some concern this week about the you know, despite
the fact we'll have the ABS in Italy playing at
the cake Tin, we've got no club rugby because of
apparently there's abuse going on with the rest.
Speaker 9 (12:26):
Well, you know, look, we can't tolerate it. It's just
there's no place in sport for that type of behavior.
So I say, good on the rest, you know, put
your foot down. I mean, they don't get paid and
they don't have to put up with that sort of nonsense.
And maybe you know, I mean it's pretty radical when
I heard of Kraky Dick. You know, that's really that's
(12:47):
a good you know, that's pretty out there. But look,
you know it's not it's not tolerant. We can't tolerate
that sort of behavior.
Speaker 2 (12:55):
Malcolm. I'm from Wellington and Wellington hasn't been fantastic when
it comes to super rugby for for a wee while,
or we haven't won for a wee while. What's turned
it around? Like, how where is this as you described
a fantastic style of rugby come from.
Speaker 9 (13:12):
Well, you've got to really, I mean, obviously it wasn't
just myself and our board in one year. You can't,
you know, we can't say it was just us. I
think we added to it, but I think if you
looked at it, it had been building for quite some time.
I think the Hurricanes had recruited well over the last
number of years. They've got a fantastic coaching unit with
(13:32):
Clark and Corey, Jane and Whopper, and it had been building.
It was just quietly there, and I think what we
did probably was give it the ability to come out. So,
you know, it's it's been an exciting time and I
think next year, I mean, the proof and the putting
is can we turn it around? Can we go back
to back? And that's what's going to be exciting, because
if we can, you know, then then obviously we have
(13:54):
got something there. But we've got a wonderful culture. Now
it feels good. You only got to look our girls.
I mean, our girls hadn't won a game in two years.
They'd won two games in a row. And when you
watch them play, you know they're in with a hunt,
they're in with a chance to win that comp they're
playing some great rugby and they're having fun. So you know,
(14:16):
wouldn't that be excited? Men and women? The good win
both good.
Speaker 2 (14:20):
To have goals there. Malcolm Gillies Hurricanes co owner with us.
This morning time is twenty four after five. I did
watch the women play. Actually they beat the Blues last Saturday.
This was before the Avs and the French and beat
the Blues and I think it was their first back
to back whenever, so they were very ever excited after
the game. Now Germany carmakers they're freaking out about China's evs.
(14:42):
I mean they have been slowly freaking out like the
frog and boiling water for a while, but now it's
like alarm bells because Chinese evs are flooding the market.
Your byds, glees, people love them and people buy them.
And now they have this problem where European car production
capacity exceeds demand by more than five million vehicles a year.
So basically the Europeans are making five million more cars
(15:05):
per year than people are buying that are at current
prices anyway, So what do you do? Start cutting the price,
then you're not making a profit or you've got a
bigger problem. And the German car industry is saying we
have a bigger problem. Volkswagen's cutting one hundred thousand jobs.
There are protests happening across Germany about this right now.
(15:25):
What they're going to do about it is anyone's guess,
and there's no solid plan from this group that's come
out to talk about it other than hey, this is
a worry. This is a backbone of the German economy.
Three million people directly are indirectly employed by it, and
the Chinese are undercutting US twenty five after five, the
ocr next five twenty eight. The problem with bashing the
(15:46):
RBNZ in real time is that nobody really knows how
badly they might have cot something up until well after
the cocking has happened. There weren't many, though not none,
chiding or for low rates until it was bleedingly obvious
in the actual data and what Prince Harry would term
lived experience that prices were on the March under the
previous lot. The rbian's edits decided to hike. Now they'll
(16:08):
probably do another one in September, assuming Trump's cease fire
polls is just that, and beyond September it was pretty
much anyone's guess. One argument is that they'll hike in September,
hold in October ahead of the election in November, even
though they shouldn't worry about it and then stick their
finger in the air for December. Either way, we're heading
towards either two point seventy five or three percent by Christmas.
(16:29):
Most of this has been priced into wholesale r rates,
so we shouldn't care too much unless you're on a
floating The justification for the hike, as has been pointed
out by a couple of economists, is easier to swallow now.
For them to come out and say we're hiking now
because the economy is on the up plus a bit
of war pricing potential. That's a lot easier to stomach
than that we're hiking now even though there's no growth.
(16:52):
Welcome to stagflation Nation. Tony Alexander makes the point that
the bank has been criticized in the past for hiking
too late, leading is get away and then over correcting
on rates, causing a recession. I like to think that
he's right. I like to believe Tony's predictions, and I
hope that they come true one maybe two little hits
(17:14):
early on, which is where we are now, and then
no need to overcorrect and crush ourselves later. In the piece,
you're on news Talks eb it is twenty nine after five,
we're stateside with Mitch mccahn.
Speaker 1 (17:27):
Next the Early Edition Full The Show podcast on iHeartRadio.
Power by News Talks it B.
Speaker 4 (17:39):
News and Views you.
Speaker 1 (17:40):
Trust to start your day. It's Early Edition with Ryan
Bridge and Spark for Business Technology that keeps business moving.
Speaker 2 (17:48):
News Talks EB. It is twenty four away from sixerre
on News Talks. They'll be coming up. We'll head stateside
with Mitch mccahn. Get the latest on the ceasefire. It's over.
If you're just waking up, great news. What's it doing
to the price of oil? What's it going to do
(18:10):
to the price of petrol? That's our question for this morning.
Brent crude is up. It was over eighty bucks a barrel.
It's come back a little bit from there. At its peak,
it was up eight percent overnight now about four point
nine or roughly five percent. This is an increase on yesterday,
by the way, not on pre war. Pre war are
up now quite a bit. However, well we came down
(18:30):
quite a bit, didn't we up until twenty four hours ago.
US stocks are in the red overnight. Don't worry this
a little change Trumps will have as little Tis and
we'll move on. It's interesting watching the stocks though. Yesterday
the AI stocks, well, people were saying, have they gone
too far? And let's pull back, and some of the
money was pulling back off of them, let's retreat into
safer things like healthcare. And then and then the war
(18:53):
pokes its head up again and people go, oh, let's
respond to that. So we're basically oscillating at the moment
between are we do we think AI is overpriced and
then all the war? Do we think AI is overpriced?
And then all the war. That's what the market's doing
for the last couple of weeks. It is twenty three
to six, Ryan Bridge, all lots of texts, Ryan, what
is that text to talking about my solar system is
(19:15):
fifteen years old, still going strong, five to seven year replacement.
Sounds like a doing your own research sort of thing.
This is interesting from Lisa Ryan. Good morning, morning, Lisa.
Regarding solar panels and sunshine hours, I've just looked up
the top twenty New Zealand locations. The interesting thing is
there is a major variance across the list. The other
interesting fact Wellington is two places ahead of Auckland in
(19:39):
annual sunshine hours. I wouldn't have thought that, Lisa. I
will take you at your word. Maybe load up the
Caketon with solar panels after all. And another person here
says on the we've been debating whether you can call
it the Caketon anymore. After a few texts got angry.
This person says, Ryan, you don't call it the Caketon
only opens. Do we call it the stadium? Well that's
(20:01):
good for you, but you're what stadium? You know for
the rest of the county. Where are you talking about?
Speaker 3 (20:07):
It's like when you.
Speaker 2 (20:07):
Listen to talk back and someone says, oh, I'm down
on Williamson Street. Where which part of New Zealand please?
Twenty two to six Bryan Bridge, our reporters Callum and
Dunedin Morning Callum wanting right, well, we're talking about forsythe Bar.
We know where that is?
Speaker 10 (20:26):
We do?
Speaker 3 (20:27):
We do?
Speaker 2 (20:27):
Although it hasn't been used a lot lately. Our poor
old stadium here.
Speaker 11 (20:31):
The venue has really struggled to attract major events in
recent years, but it's about to host one of Dunedin's
biggest community celebrations. Forsyth Bar Stadium will now host tomorrow's
Martiniki Marpoo Arkifestival here. After all, the rain here this week,
which is still falling, by the way, made the original
outdoors sites unsafe, so it's been moved indoors to the stadium.
Speaker 2 (20:52):
It's a free event.
Speaker 11 (20:53):
The drone shows will still take place outside on the
nearby fields. Organizers say the stadium's a safe, comfortable space
for the community to come and celebrate Martiniki and Ryan.
This comes as residents and leaders pushed for the stadium
to be used more for these types of community events
due to the lack of concerts and international sport here.
(21:14):
There is a new stadium boss, Phil Kings's name. He's
been reported as promising a quote golden era of events,
fantastic on the on the way for Zanita here. How's
your forecast today? Partly cloudy, few showers and eight is
the high today?
Speaker 2 (21:27):
Nice one. Thank you Claires and christ this morning. Claire,
good morning. I cannot wait for you to tell me
about the Canterbury Provincial Council buildings.
Speaker 10 (21:34):
That's one of those things that no one knows what
on earth they are, but council has now opened expressions
of interest for what to do with the quake damaged buildings.
They've obviously sat pretty untouched since the twenty eleven quakes.
General Manager of Citizens in Community Andrew Rutledge says the
buildings are a unique asset and they were previously used
for many commercial purposes. They now want to look at
(21:54):
what to do with them in the future. They're looking
for these expressions of interest right through until next month.
Speaker 2 (22:00):
How's your weather clear?
Speaker 12 (22:01):
I'm at a.
Speaker 10 (22:01):
Rainbolt today, southerlyas gusty and the high will be eight.
Speaker 2 (22:04):
You enjoy yourself a nice long weekend to beus in Wellington.
Hate to bes morning, Ryan, I call it the cake
tin affair.
Speaker 13 (22:10):
Helps.
Speaker 2 (22:11):
Oh, there we go, and are you from Wellington or
did you move there for work?
Speaker 14 (22:14):
Born and raised?
Speaker 2 (22:15):
Oh fantastic, there we go, offending no one. How's the
more point situation going? So there was an overflow within
a day of the whole meltdown?
Speaker 14 (22:25):
Yes, So this is from an incident report released to
news Talks. They'd be under the local government Official Information
and Meetings Act. It shows crews were forced to abandon
work after a high flow alarm was triggered on February
the third.
Speaker 12 (22:38):
So.
Speaker 14 (22:38):
It reported wastewater was flowing from an isolated channel undergoing maintenance.
A consultant then wrote that teams took lunch and monitored
the conditions to see if flows would cecil, but they
didn't and the decision was made to shut the site down,
with works finishing at four pm. Less than twelve hours later,
the plant flooded, which caused the tens of millions of
dollars of damage, sending raw, untreated wastewater into the city
(23:00):
south Coast, a new water entity Tiaki wide. They haven't
responded to our request for interview.
Speaker 2 (23:06):
How's your weather.
Speaker 14 (23:07):
It's not nice out there today. Periods of heavy rain,
southeastly is gusting around one hundred kilometers an hour and
nine degrees are high.
Speaker 2 (23:13):
Enjoy the cake ten This weekend to be a sneva
in Auckland. Good morning, never morning. Train's not running for
the rest of the week.
Speaker 15 (23:20):
Yes, correct. Now, this is going to make way for
the City rail Link dress rehearsal, dinner and network upgrades
as well. So what's going to happen from today through
to the long weekend. More work is going to be
done towards the CRL opening, the date still to be
confirmed as we all know, and the safer level crossings also.
It will include you know, work on the new station bridges,
trek renewals and year and a few other things. At
(23:43):
says that they're also going to be running today the
full Monday to Friday structure for one day only today,
just to give you know, the four hundred staff a
final opportunity, you know, to get to grips with what
they're going to be doing when it all opens.
Speaker 2 (23:56):
Well, hopefully all Run's plan was it does open. How's
our weather, parly cloud?
Speaker 15 (24:00):
A few shells from late morning are fourteen the high
here in Auckland's.
Speaker 2 (24:04):
Yeah, but you enjoy yourself a nice long weekend role.
As they'd break for you eighteen minutes away from six
year on news talks, they'd be very quickly high necked.
The South Korean memory chip maker, we've spoken about them
a couple of times because while they're just going gangbusters,
and they on Friday listed on the Nasdaq in America
apparently several times over subscribed. This listing was and hoping
(24:27):
to raise around twenty eight billion dollars, which would make
this the largest ever initial listing by a foreign company
in US history. Shows you the power of the chip
seventeen to six as online threats continue to evolve, so
does the way that Spark helps stop them. Spark works
quietly behind the scenes. You won't hear them, you won't
(24:47):
see them. They work around the clock, though, to identify
and block millions of online threats before they even reach
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Protecting your business from online threats isn't just a nice
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This is backed by one hundred cybersecurity specialists. They've got
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(25:09):
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Speaker 1 (25:41):
International correspondence with ends and eye insurance, feace of mind
for New Zealand business.
Speaker 2 (25:48):
Right, just got to Mitch mccan stateside for US fourteen
minutes away from six Trumps being speaking on around this
is at NATO.
Speaker 3 (25:54):
Everything's gone. The leaders are gone. At Leaders they're gone.
And they had another set of leaders. They're gone. Now
they have another sat leaders there maybe going who knows,
And you know what I may be going to because
I'm their number one target. It's all over the place.
I'm the number one because they're scum. That's the way
they act.
Speaker 2 (26:13):
Right, Let's go to Mitch. Now, Mitch, is this a blitz?
Ceasefires over for now? Is this a blip or you know,
is it going to be back to war?
Speaker 12 (26:21):
Well, it's hard to know, Ryan, because it's constantly back
and forth with Donald Trump. What we expected was that
he would make a series of strong statements about NATO,
Wilen Turkey, But perhaps we did not expect that he
would all but rip up the ceasefire agreement and restart
this war. In the last ninety minutes, Ryan, Donald Trump
has called Iran evil, sick people, scum, liars and cuckoo,
(26:42):
and the reason this is flaring up again is that
Washington sees Iran struck three innocent commercial vessels in the
strain of will moves, so they responded by launching a
series of strikes against Iran overnight. Now the markets here
are reacting that Dow Jones has dropped six hundred points
in the last couple of hours, Brent cruders back towards
eighty dollars a barrel, and Ryan. The important thing to
watch next is what decisions Donald Trump makes about more strikes.
(27:05):
He said that he will probably hit a run hard
again tonight, and that he told his officials don't touch
the oil because maybe we'll take over carg Island.
Speaker 3 (27:13):
Now.
Speaker 12 (27:13):
Carg Island is the seaport that handles up to ninety
percent of Iran's oil exports.
Speaker 2 (27:19):
What about Leaning Tower or apartment block in New York City?
What's happening?
Speaker 12 (27:25):
Yeah, this is a large building that's a commercial building
being transformed into a residential building. Emergency services were called
yesterday when bricks were reported to be falling from it.
It turned out that two still beams on the twenty
first floor had buckled, which led to concerns of a
partial collapse. Now they've been in the overnight and today
they say they've stabilized the building timborarily, but many streets
(27:48):
and buildings have still been evacuated and caughted off here
in midtown Manhattan, and that means for thousands of people
they can't go back inside, including tourists who are on
holiday here who can't get their passports in their bags
to make their flights home. So officials are confident it's
been stabilized, but many questions over this building in the
long term run.
Speaker 2 (28:07):
All right, Mitch, thank you. Mitch McCann our US correspondent.
Time is eleven away from six Bridge, brich So the
Reserve Bank. This is before obviously Trump through the ceasefire
in the bin. However, yesterday they have hike twenty five
bases points up to two and a half percent. His
art of Bremen.
Speaker 13 (28:22):
Some of the effects from the conflict are still there
and they will linger for some time.
Speaker 2 (28:26):
So there's a risk here that we get more persistence
and inflation. Lectathely with us saying spechief economists, Nick, good morning,
good morning. I mean, this is the thing. You're making judgments,
and you're making calls and line wall calls in the
midst of a war and a very shaky ceasefire.
Speaker 13 (28:43):
Yes, it doesn't help, and it's one of the things
that Reserve banks had to grapple worth was the last
three decisions that it has made, where it's done it
with this cloud of war and uncertainty hanging over it.
Speaker 2 (28:56):
So what do they do next? Do you reckon another
hike still in September and then crouch, pause and hold
and see what happens after the election or what.
Speaker 13 (29:06):
We do think the Reserve Bank will steadily lift interest
rates over the rest of the year, so that would
get the Reserve Bank and it's cashtraight back to three
hundre quarter percent by the end of the year. But
we do think there is a risk that they do
pause along the way, but it's having done one and started,
we do think it's very likely that they'll follow through
in September and then they can keep looking at the
(29:29):
lay of the land and work out the pace of
which to titan after that.
Speaker 2 (29:33):
Because obviously the election is in November and they're not
meant to pay attentions to elect they're meant to be
sort of agnostic. Who cares. We will do what we
will do regardless of an election, but dip down, they
must have it quite firmly in the back of their mind.
Speaker 13 (29:47):
Well, at the end of the day, the Reserve Bank's
got a clear job to do, and what we have
seen in the pastes is that the Reserve Bank will
do what it thinks is the right thing to do
for its inflation target. It's already started lifting interest rates,
so you know, any political sensitivity around that, whether it
to start that or not, is already already out the window.
So they'll respond to what they see. By the time
(30:09):
you get through to the September window, we'll have had
some inflation data, but we still won't know how the
economy fared over that sort of second quarter which is
now just behind us. So they will also be wanting
to see what signs of life we're getting out of
the economy, because that's the thing we've hit the pause button.
We are seeing some early good signs of consumer confidence,
business confidence picking up, but we still won't know quite
(30:33):
what that strength of recovery is going to be like
and how that will influence inflation as well.
Speaker 2 (30:37):
Nick Touughly asb chief economists with us this morning time
is nine minutes away from six of course, there are
plenty of people texting in the program right now saying
that it is way too really to be hiking rates.
As Nick just said, Yeah, confidence has been up, but
then confidence was down in the last surveys because of
what's happened in the Middle East. It's up and down
and up and down, and the recovery doesn't feel like
it's happening yet, even though on a numbers basis that
(30:59):
is and while and then probably is again now now
is not the time to be hiking rates. But that
is not the Reserve Bank's concern, isn't it the Reserve Bank?
It is looking at one number, and basically one number
only in that's inflation. Eight to six MinC.
Speaker 1 (31:13):
Next Ryan Bridge on early edition with Spark for Business
Technology that keeps Business Moving News TALKSB.
Speaker 2 (31:21):
It is six to six News TALKSB. So both parties
National and Labor been accused of faking a podcast in
their election advertising campaigns. This is some of the goal
that you get from the fake podcasts.
Speaker 7 (31:33):
It don't improve education for kids by cutting the number
of people who are supporting schools to do a really
good job of educating our kids. Here, that's exactly what
this government have been trying to do.
Speaker 16 (31:44):
Costs one point two million dollars to build a classroom,
a standard classroom in New Zealand. Now that's more expensive
than the average.
Speaker 4 (31:51):
House in this country.
Speaker 16 (31:52):
And by standardizing the designs, by fixing the basics, by
better management, we've been able to have the cost of
the class.
Speaker 2 (31:59):
As a story out complaining about this because it sort
of looks like someone's interviewing them when it's really an
in house thing and probably one of their staff is
interviewing them. A big deal, who cares not? Really? It
is five two.
Speaker 4 (32:11):
Ryan Bridge, Ryan, how, I very well? Thank you?
Speaker 17 (32:16):
Do you reckon that coat? Which is a nice can
I just say for people not watching online? And I
assume there's several of them, it's it's what you'd call
a camel.
Speaker 2 (32:25):
You like it very much?
Speaker 17 (32:26):
So my husband hates that terrible color we see see
now there's so I wanted a camel jacket for years
and have been prevented from it because my wife says
it doesn't suit my complexion.
Speaker 2 (32:38):
Wish she's got a point. You're maybe a little pale.
Speaker 4 (32:42):
Do you think so? I look?
Speaker 17 (32:47):
So you would agree with it because it's one of
it's one of those staples in a wardrobe.
Speaker 4 (32:50):
Yeah, you might think, I think you mean to have
a bit of a bit of a tan bit of color.
Speaker 2 (32:56):
But I mean, I don't know. My husband thinks it's
a terrible color on me. But I like the shape.
Speaker 4 (33:01):
Do you like the shape of the shape of It's good?
Speaker 3 (33:02):
Is it?
Speaker 4 (33:03):
Did you get it made?
Speaker 2 (33:04):
Or is it just? Do you know where this is from?
It's about seven years old? Zara? Of course it is.
Speaker 16 (33:10):
Yeah.
Speaker 4 (33:10):
Are you do you shop at Zara with pride?
Speaker 2 (33:12):
Well? I don't stop there anymore. I find the clothes
now a little bit too small. There's a lot about
what's half my physical.
Speaker 4 (33:21):
What's happened there?
Speaker 17 (33:22):
Nikola, Willis and Bramman yesterday? Were you a holder of
a hiker?
Speaker 8 (33:26):
I was? I was.
Speaker 2 (33:28):
I'm not sure.
Speaker 4 (33:29):
You weren't sure? I no, you don't want to be
on the fence.
Speaker 2 (33:32):
I mean, and my gut was like, they need to
probably do a little get one under the belt. But
then your heart says, don't don't kick us while we're down.
Speaker 4 (33:41):
That's my view too.
Speaker 14 (33:42):
Yeah.
Speaker 17 (33:43):
See what I found most surprising is and no one
picked us up yesterday. It was consensus folk. Yeah, everyone,
So the market wasn't a consensus. Market was divided. So
if the market's divided, why isn't the committee divided? See
now that's an interesting point, isn't it? With the governor
this morning on the program.
Speaker 2 (34:00):
And do you know what you should get for doing that?
The Camel Coach Tuesday.
Speaker 1 (34:08):
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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