Full Show Podcast: 19 February 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Digging through the spin spins to find the real story.
Or it's Ryan Bridge on Heather Dupice Ellen Drive with
One New Zealand let's get connected and news talks.

Speaker 2 (00:13):
That'd be good.

Speaker 3 (00:14):
Afternoon, It is four oh seven. Great to have your
company the OCA as expected, A cut is coming, but
more and sooner on the way. We're across that. This
afternoon we're live with Wayne Brown is having another crack
in Auckland's. Plus the ends at our boss Mark Robinson
on the Ineos battle. It's a game of chicken for him.
Also this afternoon we'll look at why are more older

(00:35):
people dying on our roads bridge? So the Reserve Bank
has done exactly what the pundit said they would do
and dropped fifty points. What's more, they have said they'll
go lower and faster with the cuts than they told
us they would last time. This is darts a dependent
of course, but they should cut another fifty points by midyear.

(00:56):
Then by the end of the year we should get
to three percent, so basically another seventy five points to
go yet then when you're looking basically at a far
more neutral rate at that point, by Christmas, a far
more neutral interest rate where it's neither driving nor starving
the economy of oxygen. And that is good if you're

(01:16):
a homeowner with a tuckapunicized mortgage on your house. But
the word from all in his body's done at the
Central Bank today was don't expect longer term mortgage rates
to come down too much more. That's your two to
five year rates. Why because they're driven largely by offshore
borrowing conditions, which basically aren't that great right now for
a bunch of reasons. So yes, this is good. We're

(01:38):
coming down the slope further. But you can't help but
feel a little pissed off, a little peeved, I should
say that we had to climb so high and so
fast in the first place. You look at the Australians yesterday.
Sure their ocr is higher than ours at the moment,
but they have kept it lower and didn't go as
early as we did. We hiked like Hillary Everest and

(02:02):
we're heading for growth of what half a percent this
year the Aussies two percent. Make no mistake, it was
the same lot standing down there in Wellington today crowing
about dropping rates, telling us the economies on the men
that through the punches that we are feeling right now,
and when you look across the Tasman you can feel
the gut punch. The bigger problem for us, of course,

(02:23):
is not just that we're looking across the Tasman. It's
that we're packing up and moving there as well. Here
is hoping that today's cut and the more to come
that they've signaled will help stop the exodus. Ryan Bridge,
nine after four here on News TALKSB. It could soon
be in chery news. It could soon be cheaper and

(02:44):
easier to repair your faulty or broken goods. That's if
an amendment to the Consumer Guarantees and Act becomes law.
The Right to Repair Amendment Bill has its first reading
in Parliament today and would require manufacturers to make repair
parts and information more available to consumers. Dr Paul Smith
is from the Right to Repair altierro A coalition and

(03:04):
he's with me this afternoon. Paul good A.

Speaker 4 (03:08):
Good good day, Ryan. How are you doing?

Speaker 5 (03:09):
Yeah?

Speaker 3 (03:09):
Good, thank you. What's the current loophole that means manufacturers
don't have to repair their products here?

Speaker 4 (03:16):
Oh yeah, now that's a great one. If I paraphrase it,
it is you have to provide repair facilities and repair
tools and parts. Unless you say you don't, And basically
that means you should tell consumers upfrunt that repair for
a particular product is not available, But in practice that
means it can be buried away on a website somewhere

(03:39):
in some terms and conditions, or as we find in practice,
actually it's never really policed. So a lot of them
just don't bother.

Speaker 3 (03:46):
Aren't things so cheap in Techi these days anyway that
you I mean, you wouldn't want to repair them. It's
so much cheaper to just buy a new thing.

Speaker 4 (03:56):
Yeah, And that's one of the problems that we're trying
to fix with this. Partly, what we've found is a
lot of people want to repair, but they struggle because
repair is just so difficult and so expensive, and it's
got to the point where, yeah, buying something new in
a lot of cases is cheaper than even getting somebody
to look at the product to assess whether it's repairable.

(04:19):
And that's partly because products aren't repaarable at the moment,
a lot of them, and they've been designed to make
it quite difficult to repair, to force everybody into buy
a new stuff.

Speaker 3 (04:31):
Yeah, but that's because they're cheaply made because what you're
proposing would make stuff more expensive, wouldn't that because if
it was able to be repaired, it would be more
costly to make. Plus you have to factor in the
cost of repairs. Don't we just want cheaper stuff.

Speaker 4 (04:46):
Well, one of the problems we've got is one of
the things that won't make it more expensive is we've
had this Great Consumer Guarantees Act since nineteen ninety three,
and as part of that, manufacturers have to support their
products beyond their nominal short usually one year warranty.

Speaker 3 (05:02):
No no, I get that, but the fact that they
have to factor in the cost of repairing stuff would
make the initial upfront cost more expensive.

Speaker 4 (05:12):
A lot of the things that we're talking about as
being repairable are not changes to the product themselves, and
that's sort of like a real long term game is
to try and make things more reparable in the first place.
But it's things like what happens when you break the
jug of your blender and you can't get that jug,
and that's not something that you need to change the

(05:32):
product for. That's just making that part available for you,
or seals on a coffee machine, something like that.

Speaker 3 (05:38):
Okay, interesting, I would love to know what people think
about this one. Dr Paul Smith, thank you very much
for your time. Great to have you on the show.
The Doctor Paul Smith is from the Right to Repair
Altre coalition. This is in the name of Madame and
Davidson from the Greens. This bill that's going before the House.
It's a member's bill. Obviously, we'd love to know your thoughts.
What have you had recently break on you that you've

(05:59):
actually wanted repaired? I mean the fridge. I've had the
fridge repaired recently. But in terms of you know, little
gadgets and things, everything's so cheap that you just don't
you just go out and buy a new one, don't you.
Nine two ninety two is the number text thirteen after
four Darci here was sport.

Speaker 1 (06:15):
Next, it's the Heather to Bussy allan Drive full show
podcast on iHeartRadio powered by News Talk ZEBB.

Speaker 3 (06:24):
Quarter past four. News Talk said the Ryan to repair
a fifteen dollar kettle from Kmart would cost way more
than the purchase price. This is Green Party stupidity, says Steve.
I think that this is the bill that they're currently
debating and were they're going to debate today in Parliament
to force manufacturers to repair stuff that breaks.

Speaker 6 (06:42):
I could like getting that through Apple.

Speaker 3 (06:44):
Well, yeah, there's two different Well, there's two different kettles
of fish here. One is the expensive products that you
actually want to be replaced or repaired, I should say,
And then there's the cheaper products that it's probably just
cheaper to go and buy a new one sixteen and
after four Darci's here, Hey, Darcy, Oh it's the land
ill man. Well, I do throw a lot and I
must admit I do throw a lot of stuff out,

(07:04):
A lot.

Speaker 6 (07:04):
Of my stuff. Just go to leg options for.

Speaker 7 (07:08):
Deceased the States, because all the stuff those older people
have got last for generations.

Speaker 6 (07:12):
It's brilliant.

Speaker 3 (07:13):
Yeah, that's true. Although there's those people that go around
now and raid all of the op shops and all
of those estate sales for their very expensive boutique second
hand stores.

Speaker 7 (07:25):
You need to go to the middle of the country
and they don't have that rubbishcale.

Speaker 3 (07:28):
Probably right, black Caps are playing Pakistan. It's at ten
o'clock tonight.

Speaker 7 (07:32):
Yeah, ten o'clock tonight, so a little wand to three
to five six in the morning. Good luck with that one.
But it's the start of the champions Trophy's very short
sharp a tournament that New Zealand won back in two
thousand and up until the World Test Championship, is the
only thing that New Zealand had won on that global stage.
And Chris Keane's going to join us on the show
to night up after seven o'clock to talk about that

(07:53):
and the chances of course of New Zealand and where
it actually sits in the wider scale of thing. It's
such a congested city scape when you look at all
the peaks and troughs of all the major events.

Speaker 6 (08:05):
What is actually important in cricket?

Speaker 8 (08:06):
Now?

Speaker 6 (08:06):
Where does it sit?

Speaker 7 (08:08):
How do people carry these events? Is it ipl is
at the Test Championship?

Speaker 6 (08:12):
Is it the T twenty matches? Is it the Champions Trophy,
the the World Cup? Just is they're everywhere, They're everywhere.

Speaker 7 (08:18):
You stand in the wrong spot and you'll get a
champions trophy in your foot. So we'll talk to him
about that up after seven o'clock.

Speaker 3 (08:26):
The All Blacks are going to play Ireland. This is
in Chicago in the States, which there's a lot of
Irish Americans there. I wonder why, if that's why they've
gone that side of the well.

Speaker 7 (08:34):
Soldier Field is where the unbelievable actually happened and the
All Blacks got rolled by Ireland back in the day.

Speaker 6 (08:43):
When was that twenty seventeen.

Speaker 7 (08:45):
Twenty six is a while ago, now, that's how long.
So New Zealand rugby plainly they want to get a footprint.
They want traction in the United States of America. World
Cups coming up there in a handful of years, so
they need make events to go to their paymasters and
say we'd like to put on the game here. And
the rivalry now between Ireland and New Zealand is and

(09:07):
chance as it gets. So it's a real shame we
don't get to have it on our own shores. But
increasing of the All blackses and ours. It's an international
property that the Union are going to sell off to
everybody else.

Speaker 3 (09:19):
And they need to do what Daytona did and get
Donald Trump to the game, and then you get eyeballs
and then.

Speaker 7 (09:24):
Well that's what Vlandy's just trying to do.

Speaker 6 (09:25):
He's rady big right now.

Speaker 7 (09:27):
Please please come in darken our door with your shadow.

Speaker 9 (09:31):
We want the bunters.

Speaker 3 (09:32):
Darcy. Thank you, We look forward to seeing you tonight.
Darcy Waldegrave sports talk host seven o'clock tonight on News
Talk said, be it's just gone nineteen minutes after four
lots of text coming on things that you have wanted
to get repaired but for whatever reason the manufacturer has
said nay. We'll get to those in a second. Plus
lots of news out of Europe and Ukraine. We'll get

(09:53):
to that as well.

Speaker 1 (09:54):
Recapping the day's big news and making tomorrow's headlines. It's
Ryan Bridge on Heather Duper see Ellen drive with one
New Zealand let's get connected news talks that'd be.

Speaker 3 (10:06):
For twenty one. So this Repair your Products Bill is
going before Parliament today and there is no shortage of
support for it on the text machine. Hi, Ryan, I
needed a new hose for my water blaster. Still try
to charge me half the price of the water blaster
for one part. See this is the thing it's going
to be. It's one of those vote winners. Be interesting
to see what happens, you know, where the parties fall

(10:28):
on this bill, because it's a Green member's bill, it's
Madame and Davidson's bill that's been plat from the ballots,
so it'd be interesting to see where the parties fall brilliant,
Bill says silly. I think you mean Sally silly, Sally,
brilliant Bill. I had a three thousand dollars coffee machine.
It broke within three years. Andrevil Techs came to look
at it to fix. The cost fourteen hundred dollars. The

(10:49):
parts all from overseas. You can't do it online and
manually order them yourself. So a lot of people will
have sympathy for this Bill. I think just gone twenty
two minutes after four. Trump had a press conference today
and I had to listening to it just because I
find them sort of entertaining. Anyways, talking about Ukraine, obviously
you've had Rubio and Lavrov over in Saudi Arabia having

(11:11):
a chat. Trump reckons the whole thing, the whole war
in Ukraine, would never have happened if he was president.
And I hear that.

Speaker 10 (11:17):
You know they're upset about not having a seat, Well,
they've had a seat for three years and a long
time before that. This could have been settled very easily,
just a half a half baked negotiator could have settled
this years ago without either without the loss of much land,
very little land, without the loss of any lives, and

(11:39):
without the loss of cities that are just laying on
their sides. You have those magnificent golden domes that are shattered,
will never be replaced. You can't replace them.

Speaker 3 (11:50):
He also said he used to warn Putin not to
go into Ukraine.

Speaker 10 (11:53):
This is something that should have never happened, would have
never happened. And I used to discuss it with Putin.
President Putin. I know, we'll talk about Ukraine. And it
was the apple of his eye, I will tell you that.
But he never there was never a chance of him
going in. And they told him you better.

Speaker 2 (12:07):
Not go in, don't go in, don't go in.

Speaker 6 (12:09):
And he understood that.

Speaker 3 (12:11):
And Biden comes in and he goes in. And of
course Trump says that that he also said in this
press conference, and you will see this headline in all
of the news today, across the splashed across the news
that Trump blamed Ukraine for starting the war. Now he
did as a throwaway comment, I think during this press
conference say that. I don't think it was the main
thrust of what he was getting at. Today. Anyway, lots

(12:32):
to update you on when it comes to Ukraine. So
miss yesterday we're talking about Starma, So he comes out,
you know, Captain Planet, saving Captain Planet. He comes out
and says, I will send troops in there and save
the day. Now, the UK is a NATO country, right,
and Russia has spoken about not wanting NATO troops or
NATO peacekeepers at the border because you'll need something down

(12:55):
the middle to separate these two borring sites. So Income
starma to save the day and say we'll send British
troops in there to do that job. But so Lavrov,
who's been over in Saudi Arabia, he's come out and
slapped him down and said, yet any appearance of armed
forces under any flag, doesn't matter which flag they're carrying,

(13:17):
completely unacceptable. So he's kind of put a line in
the sand there. But you would have to say there,
there's got to be some sort of DMZ, doesn't there.
I mean, who's going to trust Russia next to an
open door nobody, And you've got to I mean, you're
going to have some kind of troops in there. I
would have thought. Anyway, we're going to talk about that.
We've got world wires coming up in just a few
moments after the news, so there's lots more to come

(13:41):
here on News Talk, said B. Also an interesting development
on minerals to do with Ukraine, which I'll get to
a little later on. You know, this is approximately twelve
trillion US trillion dollars worth of minerals sitting right now
under Ukraine. How much of what Putin is doing is

(14:01):
to try and get at those minerals? And could the
minerals actually help to end the war, because that's certainly
what Lindsay Graham is talking about. You know, giving Trump
a reason to to bac Ukraine twelve trillion dollars sounds
like a pretty good reason to me. Twenty six minutes
after four, News Talk the Bay.

Speaker 11 (14:22):
I can hear your southern draw thousand miles away, changing gold.

Speaker 12 (14:28):
You're a pink pony girl.

Speaker 11 (14:32):
You don't have the curb, mama, just.

Speaker 12 (14:38):
Hom sage in lines. So what down.

Speaker 1 (15:37):
Informed insight into today's issues. It's Ryan Bridge on Hither
Duplessy Alan drive with one New Zealand let's get connected
news talks.

Speaker 2 (15:47):
That'd be you know, going.

Speaker 3 (15:57):
On pretty far away from If you're on News Talk
z B, We're going to talk to Brad Olson after
five about the OCR. If you're just joining us, it
has dropped fifty basis points as everybody was telling us
what happened, and they are going to slightly increase the
speed and the size of future cuts, which is good news.
One little tidbit from today's press conference that I wanted
to share with you. This is from an Interest stock

(16:20):
co dot Nz reporter, because you know how they've taken
the world's longest summer. I think it's the longest break
for any central bank in the world. Anyway, they've taken
a very long summer. The last time we heard from
them was November is now February, and there was a
little dig in this question from a reporter at Interest
dot Co.

Speaker 13 (16:38):
I Dan Broun Skill from Interest stock Code and ZI,
nice to see a long time, No see, I was holding.

Speaker 14 (16:47):
No, it's a good summer holiday.

Speaker 3 (16:49):
Yeah, yeah, I had one as well.

Speaker 4 (16:50):
I don't, I don't don't.

Speaker 9 (16:51):
I don't blame you.

Speaker 2 (16:53):
It's the world wires on news Talks Drive.

Speaker 3 (16:57):
And yet he sort of did right. The Americans Russians
have met over Ukraine. Zelenski wants a seat at the table,
but Trump doesn't see why he should get.

Speaker 10 (17:04):
One here that you know they're upset about not having
a seat. Well, they've had a seat for three years,
and a long time before that. This could have been
settled very easily. Just a half a half beggd negotiator
could have settled this years ago to Gaza.

Speaker 3 (17:21):
Hamas has announced some hostages will be released this weekend.
On Saturday, the twenty second of February, the remaining six
living Israeli captives who were due to be released and
the first phase of the agreement will be released. They're
also going to return the remains of four hostages who've died.
In exchange. Israel will release half of the women and
children that the IDEF took kept of during the Gaza War. Finally,

(17:44):
this afternoon, you know that nearly discovered asteroid that we're
tracking like well, I mean like the ocr actually who
we've probably been paying more tension to this asteroid on
this program. Then we have the OCI bad news. They've

(18:05):
updated again. It's track, so NASA says, the chances of
a collision in December twenty thirty two, it's now gone
from one point nine percent to two point six percent.
Remember it was one, then it doubled, Now it's almost
doubled again. Astronomers say that since the rock is so
far away, at the moment, we can expect to see
that number change quite frequently, so we shouldn't apparently shouldn't

(18:27):
panic just yet.

Speaker 1 (18:29):
International correspondence with ends an eye insurance peace of mind
for New Zealand business love to.

Speaker 3 (18:35):
Talk of a meeting between Trump and Poutin. Dan Mitchison
is a US correspondent. Dan, Good afternoon, Hey, good afternoon, Ryan.
How soon could we see this?

Speaker 2 (18:44):
Oh?

Speaker 3 (18:44):
I don't know.

Speaker 15 (18:45):
I think this is going to be a long time
in coming. I mean, you know, as you heard Donald Trump,
well you know, mister Trump said that this could have
been solved a long time ago. But it's a good start,
I guess. I mean, there's three main goals here that
want to restore staffing at the embassy's Washington and Russia.
According to both countries, they want to create this high
level team to support Ukraine peace talks, and they want

(19:06):
to explore closer relationships, and I guess more economic tize
going on. But here's the thing. I mean, no officials
from Ukraine were present at that meeting. So how awkward
is it to have two countries talking about your own
future and your own fate and you don't have a
seat at the table.

Speaker 3 (19:22):
Yeah, I mean it's a little lift out, but there
is still time. I mean they can include a presumably
later on down the track, once things are a bit
more firmed up.

Speaker 2 (19:31):
Yeah, yeah, I would, I would.

Speaker 15 (19:32):
I would hope so at this point in time, but
right now, as we know that the relationship between mister
Trump and Ukraine is not the best like it was
with former President Biden, so it'll be interesting to see.
And again right now, Trump thinks that there should have
been concessions to Russia before the invasion happened almost three
years ago.

Speaker 3 (19:52):
Speaking of Trump, hey and Elon Musk have just done
a joint interview on folks, what's happened then?

Speaker 15 (19:58):
Well, you know, there's a lot of the stuff that
we knew about already, this bromance going on between the two.
But one of the interesting points that they brought up
during the interview that seemed to surprise Donald Trump was
Elon Musk said that he was going to endorse President
Trump even before that attempt on his life in Pennsylvania,
but he said once that happened, that kind of sped

(20:18):
up his decision a little bit. And Trump kind of
turned to Musk and said, well, I didn't know that
was kind of it, and then Musk said, I was
going to do it anyway, but it's kind of interesting
to watch these two go back and forth. And I mean,
this was supposed to focus on the first one hundred
days of President Trump's administration, and Musk kind of goes
off on this tangent talking about Trump dearrangement syndrome, and

(20:40):
he says he didn't realize it was a real thing
until he was at a friend's dinner party a couple
of months before the election, and he said, people look
like they got I think he said, shot with the
dart in the neck and it was like they were
on meth and rabies right now. And he said he
really was surprised about how adamant people were against voting
for for the president at the time.

Speaker 3 (20:59):
Goodness may AFC and we love a bit of KFC
here in New Zealand. Is it going to turn into TFC?

Speaker 15 (21:06):
Well, it's interesting because first they took the Kentucky out
of KFC, and now they're taking the KFC out of Kentucky,
so they're moving it to Texas to foster They're saying
this collaboration among brands and employees, I don't That sounds
like somebody in the PR Department just wrote that up.
But basically they're also telling all the remote employees they've
got to get back to where the work happens. And

(21:28):
what's interesting, though, is that this is becoming more common,
not just with KFC, but with companies moving out of
states like California and into Texas where they had better
tax breaks and the cost of living is less and
the cost of doing business is last. And it's also
been a problem for a lot of overseas companies. They've
been looking to move to states like California or Washington

(21:48):
or Oregon. Texas has just become very an inviting place
to do business. So you not only have these businesses
that are moving, but a lot of people that are
moving to to that part of the US over here.
But it'll be interesting to see. And you're right about
KFC being popular in New Zealand. I think they're the
second most popular fast food restaurant behind McDonald's, so not
just in New Zealand but in the world.

Speaker 3 (22:09):
Good stuff, Dan, thank you very much for that. Dan
Mitchinson is our US correspondency. Tax breaks do apparently attract
multinationals and corporations. It is nineteen minutes away from five
News Talk.

Speaker 2 (22:19):
Sb Ryan Bridge.

Speaker 3 (22:21):
So Wayne Brown is announcing. He's just announcing as we speak,
actually that he's going to run for mayor again in Auckland.
And there's a story I just had to bring you
out of Brazil today. There's a man by the name
of Jose Aparigio de Silba, and he was running for
the mirror of a local district in Brazil up for reelection,
wasn't doing very well in the polls, quite concerned about

(22:43):
being turfed out of office. Right, so on the eve
of the early election, this was last October, terrible news.
He was seriously hurt by some bad guys with AK
forty sevens who attacked his motorkate this mayor day before
the election. Shock horror newspaper headlines. You can turns out
he hired the hit men, He hired phony hitmen, staged

(23:07):
a fake assassination and hoped that it would engender a
public sympathy and would win him the election. Again. Well,
he has lost the election anyway, there was not much
sympathy for him. He's now before the courts and the
shoulder injury he got apparently you know in the process
they weren't meant to shoot him, but in the process
they accidentally shot him. So he's got a bullet wound

(23:29):
in his shoulder for his troubles. Eighteen minutes away from five.

Speaker 1 (23:34):
Politics with Centrics Crey to check your customers and get
payment Certainty.

Speaker 3 (23:38):
News talks'd b quarter to five. Barries Soper, senior political
correspondent with US. Hey, Barry, good afternoon. Right, so we've
had the Oca Adrian Ores come out. He's done a
press conference, which he have to admit he likes doing,
doesn't he.

Speaker 6 (23:49):
Well now he does, although he seemed to quite enjoy
it when he engineered the depression in the first exactly.

Speaker 3 (23:55):
I think he just likes a press conference, period, that's right.
But anyway, the dancing in the aisles at Parliament, well you're.

Speaker 6 (24:02):
Certainly dancing from the government side, and on a rare occasion,
both act and nationalist singing from the same hymn that
they're both praising the efforts of the government collectively for
where we are at at the moment. So it had
to come down though it was inevitable that you know,

(24:23):
inflation was clearly under control. The squeeze the economy had
been squeezed so hard by Adrian Oren. When you look
at you know, the years twenty twenty three, twenty four,
I mean it ranged between I think it was four
point seven five and five point five and only started

(24:45):
coming down on October last year. So it's been a
long hard grind, mainly for the mortgage interest holders. And
a lot of people ask me about the OCR what
does it mean three point seven five, Well, that's the
rate that the banks can horrow money at and the
margin that the bank set is above that for your
mortgage and interest rates. So you know, it'll be interesting

(25:08):
to see if those margins are reduced or stay the same,
and what real effect that it will have on our
interest rates.

Speaker 3 (25:16):
Well, it's interesting today listening to that press conference, them
saying basically, your longer term rates, so anything two to
five years, don't expect much of men, because most of
that is influenced by your bank swap rates and your
international money markets rather than the OCR. So, but your
floating rates will certainly go up and down. Hey, John Tommaheaty,
he came out this morning.

Speaker 6 (25:36):
Wellllarm whole John Tama Harry is speaking to somebody. He
essentially agreed that some photocopf copying had taken place at
the muddy at the center of all this, and his candidate,
of course won the election, who was the chief executive
of the MRA. But it's interesting Tamma Herry has been

(25:58):
proached approached by News z'd be on many occasions for
an interview, but the calls go unanswered. But the phone
was unswered from Radio New Zealand this morning and he
seemed to suggest the whole thing was a Pakiha conspiracy.

Speaker 16 (26:14):
I think it's in the interest of all pakia that
they want it sort of out right because the only
people that get investigated constantly, and there's not one rule
for law in this country by long shot, from suppresion
orders all the way through, because we suffer a significant
microscope have done since I that school have done today
plays out in different ways. So we will continue to

(26:36):
participate in the democratic process, whether people like it or not.
And where we're are growing forced politically in this country,
that will continue whether people like.

Speaker 17 (26:46):
It or not.

Speaker 6 (26:47):
Hang on though, wasn't the Maori party that called the
policeman to investigate in the first place. If John's listening,
you can't have it both ways.

Speaker 3 (26:58):
And Also it was a Mary and Penny Hennade who
said that they were ripped off.

Speaker 6 (27:02):
I mean, honestly, I'll tell you what the interesting question
at the end of all of this, if electoral wrong
doing is found by the police against the Maori Party
and they vehemently decided to deny that done anything wrong,
the whole balance of Parliament has been decided on the
seats like the one that they won. As a result,

(27:26):
some would say of the vote being jacked up. Now
where does that leave Parliament.

Speaker 3 (27:31):
And where does and obviously there's a police investigation going
on all that Privacy commission, and then also the question
for the Electoral Commission, I mean, why did they let
a booth go in first place?

Speaker 6 (27:44):
Exactly?

Speaker 3 (27:45):
You know, because it's their job, like in legislation, it's
their job to run a friend fair election and to separate.

Speaker 6 (27:50):
It from what our bested interests.

Speaker 3 (27:53):
Now the Mexicans stand off, as Shane Jones once eloquently
put it, between the Greens and New Zealand, first is
continuing to.

Speaker 6 (28:00):
Yes, it is. And it came down to a bit
of a history lesson. I mean, Mendis March was born
in Mexico. His father is Mexican his mother was Key
Where in Key when he came to New Zealand with
his mother. The question that led to the debate today
was to the Immigration Minister, and it started all the

(28:23):
kafuffle that led to the history lesson does she think
it's fair to deport people who have been born in troa,
separating them from communities and their families. It was the
use of a tro that infuriated Winston Betters and his
sidekick Shane Jones.

Speaker 18 (28:41):
Here the are that is, someone who applied to come
to a country called New Zealand as immigrant in two
thousand and six allowed this House to change the country's
name without the mandate the approval of raferend of people.
A person asking the questions an elected member of this
House go to the treaty.

Speaker 19 (28:58):
New Zealand is translor rated as New Tidny Pember Reeves
popularized the word altero.

Speaker 20 (29:05):
Would you also be willing to consider whether it is
appropriate for any member of this House to openly question
the legitimacy of the presence of another member in order
to make a political point. Okay, think about that.

Speaker 21 (29:19):
I do think that is worth while considering those comments
actually reflect outside of the Chambers off this place into
a broader communities. This incentivating people that may have been
born overseas from participating in our democracy.

Speaker 19 (29:33):
So can you also contemplate the appropriateness of recent immigrants
telling maldi is what the name of our country should be?

Speaker 3 (29:41):
Goodness?

Speaker 6 (29:42):
It was Pember Reeves, of course, he wrote the book,
and he was a politician at the turn of the
nineteenth century in New Zealand, and he wrote the book
The Land of the Long White Cloud, which is where
at Roll came from. And Shane Jones being moldy himself,
Winston Peter's being Maori himself. They are right, this is

(30:03):
not a Maori word. It's a word that was taken
by a European politician and popularized.

Speaker 2 (30:11):
Does it.

Speaker 3 (30:11):
I think he's running into a bit of a problem.
We probably not electorally for him, but continuing to go
down the foreign born route. And Winston, oh, you.

Speaker 6 (30:21):
Know that that needling, needling and needling. It's just it's
pure political theater and they love it.

Speaker 3 (30:28):
They do. I thank you, We right. Oh, it's bloody enjoyable.
Verry Soper, Senior political correspondent, News Talks. There'll be just
gone eight away from five.

Speaker 1 (30:37):
Putting the tough questions to the newspeakers. The mic asking Breakfast.

Speaker 22 (30:41):
The Public Service Commissions Report into the use of Census
in COVID data ad Monea Marai. The Public Service Commissioner
is Sir Brian Roche.

Speaker 23 (30:48):
Of course, this is a massive wake up call for
slack practices in like professionalism and the safe guttying of information.

Speaker 22 (30:54):
Explain it to people who are listening to this, because
on one hand, and I'm sure you're right, there are
people in the public service who are really good, really skilled,
and we should value them more than we do.

Speaker 3 (31:03):
And yet you.

Speaker 22 (31:03):
Looked at several departments and each and every one of
them was hopeless. So how do you balance those two up?

Speaker 23 (31:09):
Yeah, I don't think they were completely hopeless. So it
challenges there are less and for them to be learned.
But we can never have this situation occur again.

Speaker 22 (31:17):
Back tomorrow at six am the mic Hosking Breakfast with
the rain drove of the Laugh.

Speaker 3 (31:21):
News Talk ZB. It is five away from five. So
the good news keeps coming from Adrian or yes he
did it again, dropping fifty basis points as was expected.
Here he is from the press of today.

Speaker 14 (31:32):
You know we're predicting we are past a turning point.

Speaker 3 (31:36):
This is what he spoke said when you spoke about
the recovery.

Speaker 14 (31:38):
Generally, once economies turn and you know that people get
their tail up, you don't see a smooth two and
a half percent growth rate going forward. You may see
actually faster growth over the second half of this year
once confidence is back.

Speaker 3 (31:54):
More medium term things still a bit dicey, thank you Trump.

Speaker 14 (31:58):
The medium term slightly longer term risks related to first
of all, of course shock risk. We're in the middle
of this geoeconomic fragmentation. We don't know what may happen
with regard to tariff, but we know that it is
going to slow potential global economic gross Interesting.

Speaker 3 (32:17):
I've just had a text coming from Neil. Neil says,
get a. Ryan have just received notice from Sheer's Ease
that our savings account rate has dropped from three point
three five percent to two point eight five percent effective
from today, letting us know ahead of time, perhaps, says Neil. Yeah,
I mean it's it is what it is, isn't it.
It's a double edged sword, and depending on depending on

(32:38):
where you set to be people celebrating this today anyway,
we're going to talk about that with Brad Olsen after
five o'clock. We're also going to talk to Wayne Brown,
who is seeking reelection. I mean, surprise, surprise, we all
thought he would but he has confirmed today in a
press conference he is seeking reelection. Having another crack. We'll
ask him about Desley as well, the drama with Desley

(32:59):
that's coming up last Fine where.

Speaker 1 (33:32):
Questions, answers, facts analysis, the drive show you trust for
the full picture. Brian Bridge on hither duplicy allan drive
with one New Zealand let's get connected news talks that'd
be good anything.

Speaker 3 (33:46):
It's seven half to five, the OCI down fifty points
now three point seventy five. Banks are starting to cut
their rates mainly though on the floatings. Adrian Or who's
the governor, made it pretty clear today what you can
expect and when.

Speaker 14 (34:00):
We are looking at lowering the official cash right a
little bit quicker than what we projected back in November,
but that's around fifty basis points by mid this year,
you know, around July, and in the document that comes
broadly into twenty five basis point steps. It doesn't stop there.
We have our projection of the ocr being around three

(34:23):
percent by year end.

Speaker 3 (34:24):
Brad Olson's informatric Principal economists Brad Good evening, Good evening.
So we're going cutting basically sooner and deeper.

Speaker 24 (34:32):
Why Well, effectively, the Reserve Bank is a lot more
confident about where it's heading in certainly where it's been
on the inflation front. I think, you know, hearing from
the Governor at his press conference this afternoon, he was
pretty chipper about things. You know, inflation is at two
point two percent, it's pretty close to that midpoint, and
a lot of the expectations that the Reserve Bank had

(34:53):
for how the economy was going to play out is
broadly coming true. Those inflationary pressures have come back. The
economy still in a tough position at the moment, and
interest rates setting still restrictive, and so the Reserve Bank
wants to remove those restrictions more over time. Long story short,
this announcement was broadly or very much as expected, the

(35:14):
right move to cut, the right sort of forecast now
with effectively the Reserve Bank pricing in what the markets
have been thinking as well, and so very much a
sensible decision coming out from the Reserve Bank today.

Speaker 3 (35:26):
They were also saying today, don't get your hopes up.
If you're looking for cuts to your longer term rates,
your two to five year rates, don't be expecting much
of a change. No, that's right, and even you've just
noted it around, you know, the focus from the retail
banks has been at the shorter end, looking at the
floating rates, and some of those sort of shorter term
numbers are the longer term rates have actually on a

(35:48):
global stage, they've been pushing a bit higher because of
what's coming out of the US and the US economy,
and so probably not as much of a shift there,
I think for households as well, though a lot of
them are sure they might be looking for a few
more cuts coming through in the system, But for a
lot of households, they're just looking forward to refixing on
to what is already a lower interest rate now than
what they might have been on previously as the year

(36:10):
rolls through.

Speaker 24 (36:11):
And so there's I think about half of the mortgage
book that reprices and has to or could refix in
the next sort of half a year or so, so
a lot of that activity coming through. I think what
the reserve banker is signaling is, look, they've had a
direction that they were moving in. They're a bit more
confident about doing that a bit quicker. I do worry
a little bit that maybe they're a little bit too
optimistic on continuing with that stronger tone. I worry you

(36:34):
maybe there's a bit more risk on, a bit more
pressure towards the second half of this year. Not enough
to deviate from where they are, but just you know,
maybe a little bit more caution will be warranted. But
that's for another day. The Reserve bankers said, look, they
are continuing to cut. That will come through. It might
not come through as much for each and every household,
but it's very much there and they've got options going forward.

Speaker 3 (36:53):
Yeah, as they kept saying today that it depends on
the data, doesn't it. So you can almost change your mind, Brad,
Thank you for that, Brad Olson informential, It's principal economist
John News talks here. But it's ten up to five Bridge,
the world's worst kept secret auklid Mere. Wayne Brown wants
three more years from you our super city, Thank you
very much. He's launched his bid for reelection today. He's
with me, Hi, Wayne, you got that run. You're not

(37:15):
sick of it yet?

Speaker 8 (37:18):
Well at least this one is an English so the
last one was in Chinese, which I do speak a
little bit of. So there you go.

Speaker 3 (37:25):
No, not talking about the interview, I'm talking about the job. Ah.

Speaker 8 (37:31):
Well, it's like the curious you get has good, it's
good in part. No, I think I'm there you go
again because I want to. I've made a lot of
progress and delivered most of what I promised, but I'd
want to another three years. All that be locked in.
It won't be unusual to stop wasting money. It'll be
the way that they properly behave. It won't be unusual

(37:54):
for at to listen to the public and stop doing
dumb stuff. You know, it'll be rocked in that we
expect to deliver the last rate rises in the country,
expect to do deliver value for everything. Those things are
still novel and they could be relessed. I want those
to be the normal ongoing behavior we will behave. Like

(38:15):
we're looking after the money as it was ours. There's
something or other I've been wigging. I'm trying to get
the staff to spend the ways if it was their,
not just it's somebody else's.

Speaker 3 (38:24):
Jeez, you're on message. This evening, Mayne, it's good to
have you. I've been watching your videos on social media
and you've been down in the city looking at the
you know, the cone town that the cone apocalypse has
taken over. How frustrating is it that you're the mayor
of Auckland and you've got basically no say and all
of the stuff happening.

Speaker 8 (38:45):
Well, at the end of last year, I got a
unanimous support from the council, which is pretty hard. Yet
I've got to tell you to change take back control
of CCOs, which was one of my five policies that
took in the one longest to get underway with the
at It does require that government to change some legislation

(39:06):
and I've agreed to do that. There's about three pieces
of legislation that need them to change, and the frustrating
part of the government doesn't move as quickly as I do.
But they're going to have to speed up. I mean,
the visa changes have to be that requires a change.
The midnight levy requires a bit of legislation. But none
of the legislation of the master in the government do cost
them any money, so I can't say I have got

(39:27):
no money. Just get on with the job and a
strong mayor is in a better position to do that.
So I need to come back with a big, strong result.

Speaker 3 (39:36):
What about Desley? What's happening with Desley?

Speaker 8 (39:39):
Well, she's my deputy miror and she's she will continue
to be part of the team until she decides not
to be part of the team. And I think she's
she's still continuing as part of the team and that's good.

Speaker 3 (39:49):
Oh, that's good. So she'll continue on and then you'd
be happy to have her back next time as a deputy.

Speaker 8 (39:55):
Well, the next time, you don't do that until you
see who it gets in. Some people retired, some new
people will come. I didn't make a decision until well
after I won the last election. I had to meet
them all in Pine at what they want to do
and who's happy to do what I want to do.

Speaker 3 (40:08):
So, but you'll definitely stay on to the end of
this term as your deputy.

Speaker 8 (40:12):
Well is what she said. You say she's happy to
work on with me, and then there'll be where it
sits at the moment.

Speaker 3 (40:20):
Oh that's good. And she's not running against you.

Speaker 8 (40:24):
This stage, not that I know. I mean, if she
did do that, that might require a reconsideration. But he
stays here, we're working as a team and that's what
I expected to happen.

Speaker 3 (40:32):
All right, Wayne, thanks very much for coming on tonight.
Wayne Brown, who wants to be the mayor of Auckland
one more time and it sounds like Desley. If you
try and go for that, you might just lose your
deputy job before the elections. Thirteen after five sixteen after
five new data on road safety programs. Road fatalities are
at a historic twenty five year low, which is the
good news. Since the year two thousand, they're down thirty

(40:53):
six percent the number of deaths on our roads. Now
the number of youth road fatalities down by fifty five percent.
That's even better news. But for the first time it
is older New Zealanders who have the highest fatality rate
on our roads. Maria Lovelock is the general manager for
New Zealand at Road Safety Education. She's with us him.

Speaker 25 (41:15):
Maria, Yeah, Hi, Ryan.

Speaker 3 (41:17):
What age are we talking here?

Speaker 26 (41:20):
So with what we're talking talking about the older age group,
So that's sort of yeah, So that was sort of
looking at it some combines that's across Australia and New
Zealand and so that was a very targeted at eighty
five percent. We noticed there was a real trend where
with the licensed drivers in that age group, and obviously
as you get older you have to go through a

(41:41):
lot more testing from seventy five, but the ones that
still have their license, they definitely there was a spike
there that we found quite interesting. You know, according to
the population drivers, so they might it's not so obviously
you look at the overalls road staffs, so seventy you know,
when you're looking at the New Zealand of sort of

(42:02):
older drivers, which you know they count perhaps say ten
percent of the total from seventy six to one hundred,
but then you sort of beg into by license older
and that it's a really spiked.

Speaker 3 (42:13):
Right do you know why? I mean, is it is
it that you've got a lot of older people behind
the world maybe having a medical event and crashing because
of that, or is it that they're having accidents for
other reasons.

Speaker 26 (42:24):
It's probably a range of all those regions, So I mean,
this is why you get that sort of testing. And
at the older age group. You know, some seventy five,
you know, your cognitions, things start happening in your eyesight,
gets poorer, your reactions times aren't necessarily as quick as
when you're younger. But also your ability to survive a
crash is not as great either, so your your body isn't,

(42:47):
as you know, able to bounce back so to speak,
when you're when you're in a crash. So you know
that's why they sort of coming through.

Speaker 3 (42:54):
Do we do anything you mentioned that you've been comparing
with Australia, Do we do anything differently to them when
it comes to older drivers.

Speaker 26 (43:01):
To older drivers. I was just talking to my colleague
and Australia about this. Actually we caught the interview and
it seems very similar. It's the same sort of thing
where you do in cognition tests and maybe going on
and doing a driver since we've driver training. So so
in New Zealand you go and get your medical but
then you'll benefit. The doctor thinks, oh, maybe you'll have

(43:22):
to go and do it and basit your refit you
driver license and test again and so and that happens
sort of every two years from once you tune eighty,
not that you have to set your test again, but
you have to go and get checked. And I think
it's similar. I haven't dig dug straight into exactly what
they do. But it is similar and it's a similar
trend that we're seeing across both country.

Speaker 3 (43:43):
Interesting. Maria, thank you very much for that. Great to
have you on the show. Maria Lovelock, general manager and
z at Road Safety Education Brian bred It's gone nineteen
minutes after five. So Trump, we told you about this
the other week. Trump is ditching the paper straws and
the cardboard straws and saying bring back plastic. We've got
countries pulling out of the Paris Accord, left, right and center.

(44:06):
You've got in this country, you've got Winston and you've
got Seymour saying that we should do the same, basically
pull out of it, although they're both now talking about
different time frames for doing that. Now you might have
seen this in the news today. We've got KeyWe companies
pulling out of climate change schemes and initiatives. This is
New Zealand businesses, some quite big ones too, I might

(44:27):
add leaving, you have to say, leaving in a much
more quiet fashion, a much more quieter affair than when
they entered into these climate change in green initiatives. They're
almost doing an Irish goodbye. You know, they're ghosting them
so that nobody knows because it sounds good when you
join one and everyone goes, oh, plan, that's fantastic, but
leaving sh don't say anything anyway. So who is doing this?

(44:50):
This is the Science Based Targets Initiative, which does exactly
what it sounds like it does. We're talking here about
silver Fern Farms, although they are saying they're leaving because
ofroblems with measuring their emissions a whole bunch of other reasons.
But the other one that's interesting is Auckland Airport. Now
Auckland Airport is leaving this because they say ninety percent
of their emissions are surprise, surprise being an airport from

(45:14):
the planes that are sitting on their tarmac right and
they don't have responsibility for the emissions from those planes.
That's up to the airlines. And they say basically, until
the airlines can solve the problem of emissions out the
back of a plane from the jet fuel, then there's
not much they can do. Hands are tired, So the
question is, why did you sign a stupid thing in
the first place. Twenty one after five newstalksb.

Speaker 1 (45:38):
On the iHeart app and in your car on your
drive home, it's Ryan Bridge on Heather duplicy allan drive
with one New Zealand.

Speaker 2 (45:46):
Let's get connected. News talks'd be.

Speaker 3 (45:49):
Five twenty four. Winston Peters continues to call out Riccardo
men Ende's march in the House, and there are many
good reasons to call out Riccardo Menenda's march in the House,
don't get me wrong, but continues to call him out
using the fact that he was born in Mexico as
the basis to make an attack. And it's starting to
get on my nerves a little bit. So Winston Peters

(46:12):
asked why an immigrant like Ricardo Menindi's mart was allowed
to call New Zealand altered in the House. Menindis march
said the Prime Minister should get involved in all of.

Speaker 21 (46:22):
This again, what we have this language and behavior that
can translates to home outside.

Speaker 3 (46:27):
Of his four doors. Winston Peters he reckons his comments
were totally okay.

Speaker 18 (46:32):
He applied to a country whose ours is just called
New Zealand, and in this parliament has just changed the
company's name without the mandate the authority of referend zial people.

Speaker 3 (46:42):
I think we can have this debate, a civil debate
about whether Alta should be the name of New Zealand,
or shouldn't be the name of New Zealand, or should
be used in Parliament to refer to New Zealand without
going down the track and saying, hey, you're from Mexico.
You just got here.

Speaker 27 (47:00):
Yeah.

Speaker 3 (47:00):
I think it's a bit of a race to the bottom.
I think we can have a civilized debate without needing
to point out where everybody was born. I mean, isn't
that part of the problem in the first place. Isn't
that part of the problem that Winston is trying to address,
this obsession with who your fucker papa is or who
you know, who you were born to in New Zealand,

(47:21):
whether you were born overseas or whether you were born here,
who your parents were, who your grandparents were. His point
is actually who cares right, So by constantly pointing out
where Riccardo Menendi's march was born, he's undermining his own
argument just a little bit, don't you think twenty six
after five Ray and Bridge, great story about rocket Lab today?
Did you read this? A rocket Lab ready to serve

(47:43):
the Pentagon? Nothing really new because we know that they've
got a contract with the Pentagon and that's been in
place for about a year. But what they're going to
do now from Mahia is launch rockets that one of satellites.
I should say that one day might be used for
military capabilities. The payload could have you know, it could
be used for spying, could be used for observing military operations,

(48:06):
et cetera. And the contention is, and there's lots of
people who've protested about this, we don't want that, we
don't like that, and I just think, so what you know.
I mean, obviously it's not a great thing that wars happen,
but the fact is they do happen. And the fact
is that this type of equipment will be sent to space,
whether we deal or someone else does it. Surely we

(48:28):
should make the money. Nine two the numbers text twenty
seven minutes after five. Lots of people saying, Ryan, what
the hell is an Irish goodbye?

Speaker 25 (48:37):
Hat?

Speaker 3 (48:38):
Says, I'm irish is when you just suddenly disappear from
the party because you're a bit drunk. I'm irish too, Pat,
So come be upset with the drunk thing. Mark Robinson
from New Zealand Rugby on Enios on the sky TV
deal and the game in Chicago. That's next, just.

Speaker 2 (49:04):
Getting the facts, discarding the fluff.

Speaker 1 (49:07):
It's Ryan Bridge on hither Duplice Ellen Drive with one
New Zealand, Let's get connected news talks.

Speaker 28 (49:13):
Be In Flowers.

Speaker 12 (49:19):
Said, jumping myself.

Speaker 3 (49:23):
Hour good even twenty five away from six year on
news Talks. There b This is a text from one
of our listeners, Ryan on Wayne Brown. We had Wayne
Brown on the show earlier. He's gonna run for here again. Surprise, surprise.
What's actually changed AT is still clogging up the roads
with cones. It doesn't matter where you live in New Zealand,
you will know the story. It's a familiar one, clogging

(49:46):
up the roads with cones and long term pointless cycle lanes.
He's talked a good game, but I haven't seen any
change AT is killing businesses one so about a time
I completely agree with you. Do you know what's actually
quite bad about what Wayne didn't? I didn't have a
chance to ask him about it. But and because it's
also a bit of a personal gripe, because I'm stuck
in traffic every day with these building, these bloody cycle

(50:08):
lanes that no one's in, which frustrates, you know end.
But he's hand in control. This is the dearly done
with the government. Will hand control for cycle lanes, for
speed limits, for raised pedestrian crossings, and for changes to parking.
In other words, everything that makes you enraged in the world,
he's hand in control of that. From Auckland Transport to

(50:31):
local boards. Have you ever seen the people that sit
on local boards. They are insane, They look insane, they
sound insane, they are insane. It is an insane asylum
at a local board meeting. So I just think the
whole plot. In fact, if I would prefer, I think
I would actually prefer Auckland Transport to be in charge
of cycle lanes than the local board.

Speaker 2 (50:55):
Ryan Bridge, The.

Speaker 3 (50:57):
All Blacks are looking to avenge one of their historic defeat.
The team will be playing a Test against Ireland at
Soldier Field in Chicago in November. You may recall at
the last time the All Blacks played Island at Solderfield
in twenty sixteen, things didn't go too well for US.
Ireland has been to the.

Speaker 29 (51:12):
All Blacks the culmination of a historic week at Chicago,
Ireland forty New Zealand twenty nine.

Speaker 3 (51:20):
That was, of course the first time that Ireland ever
won a Test match against New Zealand, but they've gone
on to beat US four more times since then. Not
that we need reminding. Mark Robinson is in New Zealand.
Rugby Chief Executive, Hi, Mark, how.

Speaker 9 (51:33):
Are you good?

Speaker 8 (51:35):
Good?

Speaker 9 (51:35):
Thanks Mammy?

Speaker 4 (51:35):
How are you?

Speaker 3 (51:36):
Yeah good? Thank you? Why Chicago.

Speaker 16 (51:40):
Look what, there's a lot of.

Speaker 9 (51:42):
Opportunities around the United States in general at the moment.
We've talked a lot in recent times about the fact
that the Rugby World Cups in twenty thirty one and
twenty thirty three provide a real opportunity to build a
long term plan in the US, and I think in
this case, opposition in Ireland provides a very opportunity to

(52:03):
draw on some history, the recent rivalry, and also providable
the testing going into into the United States, into a
different environment than we did last year with San Diego,
which is obviously on the other coast. So look, we're
really excited. We're going to build a huge week around
the match. You know, lots of different sectors and industries

(52:24):
and fans from different parts of the world engauging already,
so we're looking forward to it.

Speaker 3 (52:27):
You need to get Trump involved, like they did a
Daytona that was a master stroke.

Speaker 16 (52:32):
Yeah.

Speaker 30 (52:32):
I mean we're obviously influencers are becoming a big part
of sport, you know, in different leagues and teams and
athletes around the world. So I don't know whatever to
think about that, but certainly last year we had Jason
Maamara on board with.

Speaker 9 (52:44):
Different ideas coming into this game. So, yeah, what's up.

Speaker 3 (52:48):
While we've got you? Are you do you reckon? You
can get any money out of any of us?

Speaker 9 (52:53):
Hey, we're going to add at the moment, you know we're.

Speaker 3 (52:56):
Are you're still talking to each other.

Speaker 9 (52:59):
Yeah, we're going to some stage, you know, look to
begin steps to work through it and all the rest
of it. So it's obviously a shame to get to
the stage. But look, we'll be very constructive and respectful
in the process.

Speaker 3 (53:15):
Would you try and settle, ideally settle out of court?
I mean, you don't want to have to go to
court there.

Speaker 9 (53:20):
Well, look, we'll just see how the ongoing interaction he received,
you know, is he open?

Speaker 25 (53:29):
Oh?

Speaker 9 (53:29):
I think both organizations, like I say, are in contact
and we'll just carry on working front.

Speaker 3 (53:35):
Have you found a new sponsor yet?

Speaker 9 (53:39):
Look, these things don't happen overnight that we're really fortunate,
you know, obviously in regular contact constantly with our listing
partners and prospects, and so certainly, you know, the feedback
we've had from all our existing partners around and domestically
is hugely supportive around the value and the sort of

(54:01):
behaviors we bring to these these partnerships.

Speaker 3 (54:05):
So one of them might step up potentially, Well, you know,
we just to keep talking to people.

Speaker 9 (54:10):
Certainly there's new these new prospects. As I say, I'm
taking off to London tomorrow night for anti meetings of
which you know a couple of those meetings are going
to be with potential partners and some existing ones and
and our team, you know, and all the work they
do in different territories. The fact we've played in Japan
and stuts, the UK and Europe so much in recent

(54:31):
times means you know, there's lots of dialogue with different
parties in.

Speaker 3 (54:35):
The sky ideal. Are you guys going to take a
big hit on that? I mean, are you guys going
to have cash flow problems at all?

Speaker 9 (54:41):
Look, we're really solid in terms of the financial position
we are, and you know there's always different speculation around
these things, Ryan, But if you look across the world
and rugby and also a majority of sporting organizations, we're
in a really, you know, relatively strong space and we've
got good partnerships with a lot of revenue. You know

(55:01):
that that's locked down for a period and you know.

Speaker 3 (55:06):
I know you say that, but yeah, I mean you haven't.
You haven't got it. You haven't got this Sky deal
done yet, and you haven't got a principal sponsor at
this point.

Speaker 9 (55:16):
Oh no, that's that's not totally true. We've got we've
got a range of principles and we've got principle and
arrange of global sponsors lockdown our you know, our sponsorship
revenue has grown by over fifty percent in the last
few years, so it's now significant part of the revenue
profile compete to the past.

Speaker 3 (55:35):
So those conversations did that not include any of.

Speaker 9 (55:41):
It's part of it. Much has gone if you let
me finish, We've got other conversations going on, and like
I said, they don't happen overnight. But we're we're really
positive about the value and the nature their brand on
the global stage. So we'll keep working through that. As
it relates to the media, rights. Well, we'll continued in
the discussions we're having and I can't, for obvious reasons,

(56:03):
say too much about that. But when you look at
the quality of the calendar that we're bringing forward in
this next five year cycle, we've got two lines series.
With the invention of the Nation's Cup, which is going
to be a massive international competition, we got a global
club competition. Anyone that saw Super Rugby on the weekend
would have seen that absolute incredible footing in the engagement,

(56:23):
both in terms of broadcast and social media and just
Genital Sentinel was incredible. So that we're in a good space.
We've had two consecutive years of community numbers growing. We've
got a whole lot of initiatives going into that area
starting as as we kick off the season now. So look,
there's lots of positives in forty ryan and we're looking

(56:46):
forward to growing it throughout twenty twenty five.

Speaker 3 (56:48):
All Right, Mark, sounds good. Thank you very much for
coming on the program. Always appreciated. Mark Robinson, the Inded
Rugby Chief Executive.

Speaker 1 (56:54):
The Huddle with New Zealand Sullerby's international realty, local and
global exposure like no other.

Speaker 3 (57:01):
It is eighteen to six Jordan Williams from the Texpayers
Union and Ellie Jones from red PR on the huddle tonight.

Speaker 29 (57:06):
Good evening, guys, good evening, and also a local community board, Ryan,
So thanks for that. We are a pack of nutbars
with here growing out of our ears.

Speaker 28 (57:15):
Thank you.

Speaker 3 (57:15):
Know, I didn't actually realize you were on a local
board until Laura. I've produced appointed that out. Yeah, I
can tell you from my comments.

Speaker 31 (57:26):
Oh, Jordan, you're a slippery devil.

Speaker 29 (57:28):
Yes, I am the exception. Thank you.

Speaker 3 (57:31):
Hey, guys, let's talk about the official cash rate. Obviously
it's dropped today, but the track going forward is for
bigger drop, faster good news. What do you think when you, Jordan,
when you listen to and watch those press conferences from
the governor Adrian or what do you think about? Do
you think, gosh, you're the guy that did this to us,

(57:51):
because that's what I think.

Speaker 5 (57:53):
Well, I don't look at the press conference anymore. I
listen to them because we have a Reserve Bank governor
who doesn't appear to know how to iron a shirt
and refuses to wear a tie and not take his
job seriously.

Speaker 2 (58:03):
No, look, it's terrible to say that.

Speaker 3 (58:05):
Oh, it's good.

Speaker 5 (58:06):
Interest rates are going to come down further and faster.

Speaker 3 (58:09):
No, the projected growth.

Speaker 5 (58:13):
Compared to the same update, you know, the same document
they produce in November, is worse.

Speaker 2 (58:20):
We're going backwards.

Speaker 5 (58:21):
Things are not good in the economy, and I mean,
ultimately we're all on economic growth, you know, that's what
makes me zeal and prosperous. That gives us the ability
to pay for good public services, the ability to have
good standards of living. And we've gott every indicator for

(58:42):
you know, for the last year, every update, it's getting
worse than we thought it would be.

Speaker 29 (58:47):
Hellie, I wonder where the cost of living plays a
part in that too. I am not an economist, and
as someone who's just living day to day of finding
things extremely expensive. Yes, of course mortgage interest rates dropping
is going to help as far as have money for
people to spend, but as far as making life easier

(59:09):
and reducing the cost of living, the food prices, we're
still being ripped off by those. We've got premiums for insurance.
Insurance is turning into a nice to have and it
can't be. We've got rates that are out of control.
I mean, you can't just fix it by lowering mortgage
interest rates, and I think that those other things are

(59:29):
being left to get out of control and that's what's
making life really hard for people.

Speaker 3 (59:34):
Yeah, it's a good point actually, because Jordan we don't
have disinflation, so you know, inflation pushes all the prices up,
and sure some people's wages have increased alongside that, but
for most people that's not the case. For many people,
that's not the case. And it's not like prices have
actually gone down. I mean they go up and they

(59:55):
stay there and they just don't increase at the same rate. Right, Yeah,
that's all of that's true.

Speaker 5 (01:00:03):
But I mean the even when we go get back,
when we focus to get back to growth, it's only
growth per capita or GDP per capita that matters. And
on that measure, we are in the longest recession or
quarter you know, you know, quarter to quarter to quarter
to quarter on a per person basis, the longest since

(01:00:23):
records began. You know, we're in you know, we've got
real problems. And I would argue that the government simply
is not acting with the urgency. Ali Rightney mentions local government,
you know, the big outlier in the stat sense of
data on inflation is the cost of local government and
you know, Simmy and Brown was doing some great work there.

(01:00:43):
We've now got, you know, the minister that's just lumped
us with larger climate taxes. You know, actually though the
climate tax is going up later this year with under
the ets.

Speaker 3 (01:00:55):
So you're saying that government they need to move work
a lot harder. Jordan Williams, tax Payer Jones, red PR.
We're back in a second with more from the Huddle.

Speaker 1 (01:01:03):
The Huddle with New Zealand Southeby's International Realty Elevate the
marketing of your home.

Speaker 3 (01:01:08):
Jordan Williams from the Taxpayer's Union and Ellie Jones from
red PR on the Huddle tonight. The Right to Repair,
So there's a member's bill before Parliament that's going to
be read today and MPs will get to vote on
whether they think it should happens. It would force the
manufacturers to repair stuff. Ellie, I just wonder how much
stuff is repairable. I mean you think exactly yeah in

(01:01:30):
my camp?

Speaker 29 (01:01:31):
Yeah, no, Look, I completely agree. I don't think you
can force companies to do a repair. I think the
Consumer Guarantees Act is pretty clear as far as the
life of an object or thing is and I think
that that works pretty well when people know how it
works and they call people out on it, and I
do that regularly. I return the vacuum cleaner yesterday. How

(01:01:52):
long should something last? You know, let's have that discussion.
If it's cheap, is it a fair expectation that it
won't last? And it's just tough if it breaks? I
think it's admirable this kind of idea. I don't think
it will work. We have places in christ Church where
you take things to get them repaired. There's one Enrichmond
near me called Repair Revolution. I've had a handbag repaired

(01:02:12):
and and a lamp repaired. Yeah, I don't think it's
feasible to be able to make something like that work.
Not everything can be repaired. Let's time make things last
as long as they can. But you know, are people
are going to have the time or the wherewithal to
actually get something repaired or just take it to the dump.
I think it'll be the latter.

Speaker 3 (01:02:29):
What happened to your vacuum cleaner?

Speaker 29 (01:02:32):
It stopped sucking, which is quite important for a vacuum cleaner.
And when I took it back Ryan, I was told
that I hadn't cleaned the filters, and I felt I
felt quite put out by that someone was questioning my
parenting ability of a vacuum cleaner. And so but anyway,
they were very good customers, always right, So thumbs up
to Bristol.

Speaker 3 (01:02:51):
They fixed it and you went home with the repair.

Speaker 29 (01:02:54):
No, because I'd already bought another one and they couldn't
fix it. So they gave me my money back. So
I did say that Consumer Guarantees Act allows me to
do this, and they agree.

Speaker 3 (01:03:02):
And how long ago did you buy it?

Speaker 29 (01:03:04):
October twenty fifth of October?

Speaker 3 (01:03:06):
Ah, okay, so that's fair enough. Jordan went, have you
taken anything back to the store lately?

Speaker 5 (01:03:12):
No, But I sort of to have something similar to
this and that a few years ago I brought something
called a car thing off Spotify, which is like a
controller for you, sort of remote controller for Spotify. And
then just before Christmas they up and said, oh, we're
no longer supporting that anymore, and just like pulled the
software support for it. So this thing that costs like
one hundred yuears no longer words thought, was that rageous

(01:03:36):
in terms.

Speaker 11 (01:03:36):
Of the right to repair?

Speaker 5 (01:03:38):
A lot of this sort of goes back to this,
is it a movement for consumer movement in the US
when John Deer started making all these stuff proprietary so
that Joe Farmer couldn't go and fix it. It's it's like,
I mean, bumper stick of policy. Really God, but realistically
Apple going to change the design of their iPhone to
make the battery replaceable or being able to the consumer

(01:03:59):
be able to do it. I think in a world
of electronics where stuff is frankly, you know, a lot
more proprietary in the like I think Allie's you know,
this conversation has shown it. It's a strong consumer guarantees
act things are fit for purpose. That's more important than
the ability to sort of you know, to tinker with
tinker with with with your John Dare or whatever.

Speaker 3 (01:04:22):
Yeah, yeah, or you're so many texts coming in today
about water blasters. Apparently water a lot of water blasters
breaking around New Zealand and they will charge you half
the cost of the brand new water blast. Crisis crisis.
Everyone's going to have filthy homes just to fix.

Speaker 5 (01:04:40):
But a water blaster would be fun to fix.

Speaker 17 (01:04:43):
You know.

Speaker 5 (01:04:43):
There's some things that look, I can't push a pen
round for a living. So my summer was like you know,
at the at my wife's of the family batch. You
know that I broke the ride on.

Speaker 2 (01:04:57):
I don't know anything about ride ons.

Speaker 5 (01:04:59):
I'm terrible that sort of thing. But what probably took
someone with any skill half an hour took me two
days and.

Speaker 32 (01:05:05):
I loved it.

Speaker 3 (01:05:06):
It was so satisfying.

Speaker 29 (01:05:08):
You're exceptional, though, Jordan, No, you're definitely exceptional. There are
many people who would take take a look at something
like that and either not even give it a go,
or give it a go for ten minutes and then
lose interest in That would be me. So that's the
other thing. It's going to end up in landfill or
be sold cheap as is, whereas I don't think people
are going to you know, if you've got something in law,
I don't think it's going to make any difference.

Speaker 3 (01:05:29):
Allie Jones, thank you very much from Red pr and
Jordan Williams from the Taxpayers Union. And what have we
learned from that discussion where we've learned that whoever Jordan
is married to has parents have a batch that's big
enough to have its own right on lawnmower. It's six
minutes away from six.

Speaker 1 (01:05:47):
It's the Heather Duplessy Allen Drive Full Show podcast on
my Heart Radio powered by News TALKSB News Talks.

Speaker 3 (01:05:55):
There be four away from six lots of texts on
the issue of hearing your goods. I like this from
a cobbler in christ Church, which is a shoe repairer.
Sorry in Hamilton, forgive me, Hi, Ryan, We are flat
out at the moment. But there is a difference between
a decent leather shoe and a km up warehouse shoe.
The cheaper ones are more expensive to resole. That means

(01:06:18):
they are really worth fixing. But if you buy something
decent to start with, it is actually quite economical to
repair it. You don't throw your car out because you
need new tires.

Speaker 8 (01:06:27):
Do you.

Speaker 3 (01:06:28):
I suppose it's not, but I mean, it just depends
how much you've got to spend up front on a
pair of shoes. That's really what it would come down to.
I would think, really interesting, someone says I had my
heart broken. I can't get it repaired. That's said, and
this is not the place to have it fixed, so sorry.

(01:06:48):
Coming up to six o'clock on news Talk said be
more on the ocr with donative training from the Herald
after six.

Speaker 33 (01:06:57):
If this were Man where business meets insight the Business Hour,
it's with Ryan Bridge and Man's Insurance and Investments.

Speaker 2 (01:07:09):
Grow your wealth, Protect your future.

Speaker 3 (01:07:11):
News Talks, dB good editing seven after six. Coming up
this evening A Herald's Jeanete Tip training is with us.
She asked Adrian all today about long term you know
your fixed mortgage rates. We'll hear what he had to
say to her. Shortly big day for the NZX. We'll
get reaction from Milford, Fonterra still mulling how they'll sell
their consumer brands, and Gavin Gray's in the UK. That's

(01:07:32):
all I head here on the Business Hour right now.
Fetcher Building is in the red again, a company today
announcing it made one hundred and thirty four million dollar
net loss after tacks for the half year two December.
That's down one hundred from one hundred and twenty million
dollars last year. It's the tough result for the entire
business with the clients basically across all of the different
business units. Andrew reading as fletch A's chief executive Andrew.

Speaker 25 (01:07:54):
Hello, Hello, it's nice to meet you're own.

Speaker 3 (01:07:57):
Nice to talk to you too. So you're not selling
enough stuff.

Speaker 25 (01:07:59):
Basically, it's a bit difficult too when the market isn't
there to buy it.

Speaker 3 (01:08:05):
Do you know, do you think the market has bottomed out?

Speaker 9 (01:08:10):
Look?

Speaker 25 (01:08:10):
I mean that's a question on everybody's lips. And we
hear some people saying there are green shoots. We're a
bit more nervous about that. There are some businesses that
are seeing early signs of recovery and others aren't seeing
much change in volumes at all. And remember I'm thinking
about both Australia and New Zealand when I say that.

(01:08:31):
So with some of the interest rate cuts around October
last year, we did see a small pickup in our
residential and development business, about a seventeen percent increasing sales
in September to December period versus the July and August.
But it's not boom times yet. And I think what
people forget is that even if you start dropping interest rates,

(01:08:53):
there's a period between in thinking about a house and
it getting built, and that period anywhere between six and
nine months sort of thing.

Speaker 3 (01:09:02):
We've just had Adrian or announce say another fifty basis
point cut to the ici. He's talking about another fifty
by midyear. Getting down to three by the end of
the year. That'll obviously be good news to your ears.
Welcome news for you.

Speaker 25 (01:09:14):
I assume it has just brought a smile to my face.
I will have to admit. I think what we have
to remember is that it will take time to feed through.
But it does underline that it's not a case of
when the market change, sorry if the market changes, but
when it changes. So I have no doubts in my
mind that at some stage or other we will start

(01:09:35):
to see demand taking off of a lot of what
we're doing at the moment. In the cost out exercise,
we've been carrying it out. It's the right size of
our business and get it prepared and ready for any
uplift in the market that might happen.

Speaker 3 (01:09:48):
Yeah, you've been cutting costs and you're actually a head
of schedule. What have you been cutting?

Speaker 25 (01:09:54):
So we've got ninety one million out for the half year,
sixty million of which is in overheads and thirty million
is in cogs. So the cogs is the sort of
variable cost that you might have in supplying product. The
overhead has been a whole variety of activities, including some

(01:10:16):
heads out, some facilities being shuttle mothboard. So it's a
whole range of activities.

Speaker 3 (01:10:23):
Obviously you're going to wait for the market to pick
up again, but you can't just sit on your hands
while you do that. So I note that you're going
to review the business parts of the business, including Placemakers.
Why placemakers and what are you planning?

Speaker 25 (01:10:34):
I think that that was taken slightly out of context.
Placemakers is one of our leading businesses. But what we're
doing there is historically the number of branches that were
managed by JV partners has been reduced, and what we're
going to do now is actually increase the number of
JV partners that we have, especially in the rural branches.

(01:10:56):
And we find that if you have somebody who is
a skin in the game aim, then they pay absolute
attention to the branch's profit loss account and they give
excellent customer service. So we're just going to tweak the
model rather than review it.

Speaker 3 (01:11:10):
Right, So having someone local actually makes a big difference to.

Speaker 25 (01:11:13):
A business, huge difference.

Speaker 3 (01:11:16):
Yeah, interesting, Andrew, thank you very much for that. Really
appreciate your time.

Speaker 25 (01:11:20):
No problem is all likes to talk to you.

Speaker 3 (01:11:22):
That's Andrew reading Chief executive at Fletcher Building with us tonight.
They're just announced today. Quite chipper for a guy who's
just made a loss of one hundred and thirty four
million dollars net loss after six months. But you know,
hopefully things will turn a corner and hopefully what Adrian
Or and the sl have done on Wellington today will
help with that process. It's eleven minutes after six update

(01:11:43):
on Tom Phillips the missing man police have released something.
We'll give that to you shortly. Also, next we're going
to Milford Asset Management Why lot for the INSIDEX to
digest Today.

Speaker 1 (01:11:54):
It's the Heather Dooper Cel and Drive Full Show podcast
on Iheartradiom.

Speaker 2 (01:11:59):
Powered by News.

Speaker 3 (01:12:02):
It's time to invest in yourself. In Milford's words, to
make twenty twenty five your Money's year. I think we've
all realized that retirement planning needs to happen now. In
the present you has to look after future you, and
that starts here. Mapping up the journey and knowing what
it'll take to get there are both crucial. Start by
visiting Moneygoals dot co dot nz you'll find a range

(01:12:25):
of Milford's investing insights, financial goal setting tips. Expert keiwisaver
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Milford's role in all of this is to empower you
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(01:12:47):
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Speaker 2 (01:13:01):
Ran Bridge your news.

Speaker 3 (01:13:03):
Talks and we will be speaking to Milford actually in
just a few moments to get a market update right now, though,
the banks have followed Adrian Or and they are cutting
mortgage interest rates after the OCR decision. This afternoon, amz
it's two year rate is down below the five percent
mark to four night I mean barely four nine to nine.
But it is of course bad news for sabers. Term
deposit rates have been cut to Jane tips Training is

(01:13:25):
The Herald's Wellington Business editor. She's with US tonight. Hi Jane,
Hi Ryan. Now, I saw your question and I thought,
great question to the Reserve Bank today at the press
about the longer term rates, your two to five years,
what can we expect to see there?

Speaker 32 (01:13:40):
That's right, Assistant Governor Karen Silk basically tempered people's expectations
around those longer term rates coming down. She made the
point that, yes, the OCI has a more direct impact
on floating rates and on shorter term rates, but when
it comes to those two, three, four five year mortgage rates,

(01:14:00):
those are affected by a range of international factors that
are beyond the Reserve banks control. So the thing is
is that at the moment, some of those factors are
putting quite a bit of upward pressure on interest rates.
So if you are floating or fixing for a short term,
those rates will keep coming down a bit. But if
you're looking to fix longer term, we might not see

(01:14:24):
mortgage rates come down too much. Now, some of those
factors that are pushing up those rates are the fact
that investors around the world are worried about Donald Trump's
policies being inflationary, so Federal Reserve interest rate that the
Federal Reserve not cutting rates as quickly also worried about

(01:14:44):
geopolitical risks and worried about the US, the finances in
the US and the government's fiscal deficit. So those factors
are making it more expensive for banks to borrow, and
that does affect people looking to fixing more for longer term.

Speaker 3 (01:15:01):
We're getting punched in the head twice, isn't it. You know, Well,
finally we get some relief, but oh no, actually we've
got trumps. So those longer term rates aren't going to
be as attractive as we would have hoped.

Speaker 32 (01:15:12):
I know, it's it's really it's really one thing after
the next. And yeah, and you know, the Reserve Bank
did share a bit of data on that. They said
that currently the average interest rate that banks receive on
all the mortgages is about six point two percent. By December,
they reckon it'll only get to five point seven percent.
So while, you know, while we'll start to feel those

(01:15:35):
lower interest rates quite soon, the overall impact is not
going to be big. Like, if the average interest rate
that banks are receiving is only five point seven percent
by December, you know that shows that the rates will
you know, stay stay wee bit elevated five point seven
percent is the level that it was at in late
twenty twenty three.

Speaker 3 (01:15:55):
Wow, that is a really interesting stat Were you surprised
the rbn Z still very firm on seventy five basis
point cuts this year?

Speaker 32 (01:16:06):
Yeah, that it was a little bit more dubbish than
it was in November. I think that the bank is
worried about the effect that tariffs and some of this
sture of political instability will have on GDP growth. It
didn't interestingly take a view on the impact tariffs would
have on inflation. That was something I was looking out for,

(01:16:27):
but it said that we don't really know and there
are quite a few moving parts there. Something else that
people will be interested in is it's doesn't think house
price growth will recover too much. So it actually thinks
house prices annually will will keep falling at the start
of this year and then sort of return to single
digit growth. So it doesn't believe that lower interest rates

(01:16:50):
will see house prices take off anywhere close to the
way they took off during the pandemic.

Speaker 3 (01:16:54):
Interesting stuff. Jan I think he was always to know
showining with us and he's on the hero of Baldy
from Business editor who has all the good numbers nineteen
minutes after six here on news Talks here b. It's
interesting they also talked about in the in the report
that they put out today about you know, with a
lower inflash are sure a lower exchange rate, stuff is
obviously more expensive for US overseas. It's great for our exporters,

(01:17:16):
but it makes our inputs more expensive, and so there
is a risk of petrol prices started to go up
as they're expected to. Plus you add your exchange rate,
and there's a risk of importing inflation. So there's all
these things that they have to balance up. I'm not
saying it's an easy job. I think anyone's ever said
it's an easy job. But when they get it wrong,
we reserve the right to come down on them like
a ton of brick. Storme you because it's very bloody

(01:17:37):
expensive to have a mortgage, thank you very much. Twenty
after six. Will get reaction from the markets with Milford.

Speaker 1 (01:17:43):
Next, everything from SMEs to the big corporates, The Business
Hour with Ryan Bridge and Players, Insurance and Investments, Grew
your Wealth, Protect Your Future, News Talks v six twenty two.

Speaker 3 (01:17:57):
Remy Morgan Milf from Milford is here. Hey, Remy Hi, Ryan,
how's it going. You have a really good Thank you,
thanks for being on the show with us. How did
the market three? Obviously a lot to digesterday We've had
company results, but we're the main thing, of course, was
the RBNZ. How did the market react?

Speaker 31 (01:18:12):
Yeah, so today's Reserve Bank meeting that was the first
since November last year, given we've had the summer holiday
and the fifty basis point cut today was largely expected
and almost fully priced in. So what was actually more
interest was the rbn zaid forward track. So this was
revised down little, implying that the rate cuts will come

(01:18:33):
in slightly quicker than what was previously expected by the RBNZ.
So their track is now forecasting two twenty five basis
point cuts by July this year and a cache erate
of around three point one percent by the end of
the year, which is down from three point five to
five percent previously. Now that's actually a lot more closely
aligned to what the market had already been pricing in

(01:18:55):
going into the meeting. So because of that, the market
reaction was pretty subdue and there was really no major
or unexpected moves to call out. Now the next meeting
is on the ninth of April and another twenty five
basis point cut is essentially fully priced by the market,
but what actually happens will depend on the data and

(01:19:15):
what unfolds between now and then.

Speaker 3 (01:19:19):
Remy. If we think about what's happening in the US,
obviously there's a lot of uncertainty there to what extent
that influenced the Reserve Bank's decision today.

Speaker 31 (01:19:28):
Yeah, that's a good question. So the US Federal Reserve
is currently on pores with its interest rate easing cycle,
and this was something that the RBNSI did discuss, as
the market is now pricing in less cuts in the
US than back at the time of their meeting in November,
and this has implications for the currency. We've already seen
the New Zealand dollar quite a bit weaker against the

(01:19:50):
US since November. There's also quite a lot of uncertainty
around the US tariffs, and the RBNS also discussed these risks. Now,
the impact of T restrictions really remains quite uncertain, but
it might be something that needs to be factored into
future monetary policy responses. Now, these things can take a
bit of time to play out, and we'll see the

(01:20:11):
z RB and z respond accordingly, we.

Speaker 3 (01:20:14):
Also had the Reserve Bank of Australia use today. How
does this contrast with what's happening here in New Zealand.

Speaker 31 (01:20:22):
Yes, so yesterday the RBA finally cut its policy rate,
but only by twenty five basis points to four point
one percent. Now, this was its first cut to this cycle. Now,
as we know in New Zealand, we've already been cutting
since August last year and from a much higher peak
cash rate of five point five percent, And the tone
of the RBA implied that there could be a slower

(01:20:44):
pace of rate cuts from here than what the market
was pricing, which obviously compares to a slightly faster pace
now expected by the rbn Z in New Zealand. Another
key difference is that in Australia the labor market remains
much tighter, and THERB actually revised down its peak unemployment
forecast of four point two percent, which compares to the

(01:21:06):
expectation of five point two percent peak unemployment in New Zealand.
So I think based on the current data, it's fair
to say that we could see some continued divergence between
the easing cycle in New Zealand and Australia. But again,
this remains started dependent.

Speaker 3 (01:21:22):
Certainly sounds like it, Remy, thank you very much for
that. That's Remy Morgan from Milford.

Speaker 2 (01:21:26):
Asset Management, Bryan Bridge.

Speaker 3 (01:21:28):
Twenty six minutes halfter six here on News Talk ZMB.
So you would have heard yesterday this possible sighting of
Tom Phillips and his kids, and how many of these
have we had? And you think, oh goodness, they might
finally get him. By the way, why has no one
in New Zealand done a documentary on this? Endlessly fascinating
Someone needs to go out and find them, and in
fact there's a British film crew coming over.

Speaker 13 (01:21:50):
I feel like that might be the hard right, and
that might be that the documentarians are all struggling with.

Speaker 3 (01:21:54):
No but it's a mystery, right. This is how many
podcasts are out there based on Miss Trees. No one
ever solves the thing, right, it's the fascination with the mystery, right.

Speaker 13 (01:22:04):
All right, say you don't need to find them, You
don't need.

Speaker 3 (01:22:05):
To find them. You just need to interview the town,
get the mayor on, go to the cops, you know
what I mean, talk to the dairy owner, all of
that stuff. But anyway, a British film crew is coming
to it anyway, I'm getting distracted. So the update is
they haven't found them. It wasn't them. Police have said
that there was a group cited on State Highway for
around eight thirty am on Sunday, the sixteenth of February,
who were potentially Tom Phillips and his kids. They said

(01:22:27):
they were not received a number of calls from people
in the area a person who was part of the
group in question, which has since been confirmed it wasn't
Tom Phillips and his stry children. So there you go.
Someone going to a doco twenty seven up to six.

Speaker 2 (01:22:42):
If it's to do with money, it matters to you.

Speaker 1 (01:22:45):
The business hour with Ryan Bridge and Mayor's Insurance and investments,
grow your wealth, protect your future.

Speaker 2 (01:22:53):
News dogs that'd be.

Speaker 11 (01:22:55):
The mass baby, just me and a drug like a
califon King.

Speaker 2 (01:23:06):
We've been breaking you know, twenty far.

Speaker 3 (01:23:09):
And away from the seven. You're on news Talk ZMB tonight.
It's great to have your company now. Dennis has text
us And for those who are outside Auckland, you won't
necessarily get this advert that's on the radio at the moment,
but here if you are in the city of Sales,
you'll hear Wayne Brown placing ads all the way through
news Talk ZDB to say I'm running for Maria of

(01:23:29):
Auckland and you should vote for me. And he's done
this to time it with his press conference, which was today,
which is quite a shrewd thing to do. And Dennis says, Ryan,
do we have to listen to Wayne Brown adverts from
now all the way until the October election? No, says Dennis,
I would think not. I think they're slightly expensive things
to purchase. I don't imagine he'll be doing all the

(01:23:50):
way till October. However, I think it's a smart thing
to do because if you'll notice this, no matter where
you live in New Zealand, you will notice that the
he who will the poll wins the election. So what
Wayne Brown is doing is getting out ahead of all
of the competition. Who are they anyway getting out ahead
of all the competitions, cementing his name as the one

(01:24:10):
you vote for early on. Then the polsters come in
they say who you're going to vote for? People go, well,
there's only one name in town, it's Wayne Brown, and boom,
he wins the election, which I think, and it's an
easy prediction to make that he will. Twenty four away
from seven, Fonterra is advancing its plans for selling off Anchor,
Mainland and its other consumer brands. The co op hasn't

(01:24:33):
quite decided whether to sell the brands to another business
and a trade sale yet, or whether it'll list them
in an IPO. But if there is an IPO, Fonterra
has already chosen a name for the new business, which
would be Mainland Group, and it's already lined up a
potential CEO and CFO. Oliver Amanda is the CEO of
the Shareholders Association. He's with me tonight, Hi, Oliver, got it, Ryan,

(01:24:54):
What do you reckon it'll be? Do you reckon trade
sale or IPO?

Speaker 17 (01:24:59):
Well, certainly this is a New Zealand with institutional or
individual investors would really welcome a sale by IPO onto
the ins and X. And really, given that the fact
that the brands are so well known, that is real,
we're real shot in the arm for the inside X.
But also because it's so well known, it would probably

(01:25:19):
create a lot of value for Fonterra as well.

Speaker 3 (01:25:22):
Yeah, you mentioned the brands are very well known. They're
also not just sold here, right, they're sold all over
the world. So for if you're talking about investors coming
at it from a sheer market point of view, that's
got to be attractive. And yeah, absolutely right.

Speaker 17 (01:25:37):
So certainly from an investor viewpoint is the fact that
the brands are well known here that recognize the strong
domestic cash flows here with the New Zealand or at
least we're assuming there are. But also there's that opportunity
for growth from an international market, and I think from
a New Zealand Inc. Perspective, from from a broader New
Zealand perspective. That's why it's almost really important that actually

(01:25:57):
that this does become an IPO on the insidets owned
by New Zealand investors, because then you've got Fonterra strategy
playing out and I've talked about that being before, about
being very manufacturing focused wholesale or supply chain business, and
then you get that real long term value that's that's
brought about by investment in brands.

Speaker 3 (01:26:18):
I suppose you would say that's been when the shareholders Association,
I mean, you.

Speaker 17 (01:26:23):
Could argue that, but I think this also comes down
to where the best value is for Voluntierra. And look,
I think individual investors and institutional New Zealand based investors
would would probably pay a premium to get hold of
a really high performing asset compared to what a private
equity or a trade trade sale for the sorts of
returns that they'd be looking.

Speaker 3 (01:26:41):
For and which it could also mean that it goes
offshore as well, right the ownership, which would be not
great for us.

Speaker 17 (01:26:48):
And that's absolutely right. So from New Zealand think perspective,
as I said, I mean, this is really about trying
to preserve as much value as we can in New Zealand.
So Fonterra strategy is all about trying to really sweat
that manufacturing supply chain process. That's great for them. But
then from a New Zealand perspective, let's try to preserve
that long term value in the brands and mainland group
as it's proposed.

Speaker 2 (01:27:07):
Actually that would do.

Speaker 17 (01:27:09):
That, That would preserve value for investors and create longer
term value for New Zealand inc.

Speaker 3 (01:27:14):
Oliver, what do we know about the potential CEO and
CFO and is it unusual before they've even decided how
they'll sell it or whether they'll do an IPO to
sort of sound some.

Speaker 17 (01:27:23):
Out I don't think it's particularly unusual. I mean, what
you've got here is a leadership to the emergence of
a leadership team. If you're trying to promote an IPO
into the market, actually getting getting that leadership team introduced
to potential investors is actually a really good idea and
certain that the blend that you have here, you know,
a long term volunteer employee, someone who is someone who

(01:27:47):
the business has grown themselves into having the right capability
that's needed for that business, and then also bringing in
the right blend of external experience and that can provide
a fresh perspective and that's what's proposed And Paul Victor,
so no, look, I don't think it's particularly unusual. I
think it's good for the market. It's good for the
company to go out and introduce the people who become

(01:28:08):
really important to investors as this business comes on to
the stock exchange.

Speaker 3 (01:28:12):
Good stuff, Oliver, thank you very much for that. Great
to have you on the show. Oliver. Amanda the New
Zealand shareholders Association's CEO. Just for the record, it's Renee
Didonka who is the CEO elect for Mainland Group. And
Paul Victor has been named by Fonterra as the CFO
elect for Mainland Group. You're on News Talk CB. It
is twenty away from seven. We've still got to get

(01:28:33):
to London, Gavin Gray standing.

Speaker 2 (01:28:35):
By encroaching the numbers and getting the results.

Speaker 1 (01:28:38):
It's Ryan Bridge with the Business Hour and MAS Insurance
and Investments.

Speaker 2 (01:28:43):
Grew your wealth, Protect your future the Newstalks EDB.

Speaker 3 (01:28:47):
Seventeen to seven on News Talks EDB. So good text
here actually from one of our listeners. The shareholders have
not even voted on any of this yet. This is
the potential IPO of what they would like to call
Mainland Group. This is Fonterra selling off its consumer businesses.
They'll either do it by a trade sale or they'll
either do it by an IPO. This we just had

(01:29:09):
an interview with the Shareholders Association. This listener pointing out
the shareholders have not even voted on any of this,
and I doubt whether the shareholders would vote yes to
an IPO. It's a good point they have not voted
on it yet. All that's happened is that Fonterra has
put out a basically a message to the markets and
to the media to say, hey, we're looking at one

(01:29:29):
of these two options. We're not quite sure which one
will do yet. Over in the States, and Zelensky has
been trying to do this for a very long time,
with both with Biden and but now particularly with Trump,
get him interested in backing Ukraine and keeping Russia at bay.
And Lindsey Graham, who's obviously a Republican over in the

(01:29:49):
United States and a good friend of Trump's, he has
been trying to use a specific tool to get Trump's
attention when it comes to Ukraine, and that tool is money,
two things Trump loves very much. So there's a report
from Politico in which it and actually Lindsay Graham has
gone on record in the last couple of days to
talk about this. Ukraine is sitting on US ten trillion

(01:30:13):
dollars plus of minerals. Now I can tell you what
type of minerals. Twenty two of the fifty materials that
the US has identified as critical. You know how we
have a critical minerals list, Well, the US has one two.
There are fifty materials on it, and twenty two are
sitting under Ukraine right now, worth close to twelve billion

(01:30:34):
US dollars. It's a lot of money. We're talking graphite, lithium, titanium, uranium,
things I can't pronounce anyway, Lindsey Graham really wants Trump
to focus on that when he's thinking about the security
of Ukraine.

Speaker 34 (01:30:49):
Have a listen so you can talk about democracy. And
people love talking about democracy here, which is this great
to talk about democracy. But where were you in twenty
fourteen and they actually needed you. So Trump now sees
Ukraine differently.

Speaker 3 (01:31:06):
Because of the rarest stuff.

Speaker 15 (01:31:07):
Oh I got I said.

Speaker 28 (01:31:10):
Playing over.

Speaker 34 (01:31:11):
These people are sitting on literally a gold mine.

Speaker 3 (01:31:15):
So he's just saying, look, you you support them, you
back them and secure them, and you can sign a
deal and get some of the they want fifty percent
of the mineral wealth of Ukraine. And the thing is,
it's sort of it makes sense, right if you are
Russia and you're sitting on the you know, the border

(01:31:36):
between you, You've decided to draw a line wherever it is
which for your ceasefire agreement, and the Americans have a
huge financial interest in the land across the border. Then
you know, you're kind of walking on eggshells, aren't you.
So there was method to the madness. There is logic there.
It's just gone fourteen minutes away from seven News talk set.

(01:31:57):
Bryan Vin Grays are UK correspond for more on Ukraine.
The EU countries preparing a military aid package the hi
Gevin Hi there ran.

Speaker 27 (01:32:08):
Yes, those are the unconfirmed reports, not just then in
military package, a huge military package roughly eleven billion New
Zealand dollars billion, three EU diplomats being quoted saying the
package would mark one of the blocks largest military aid
deals since the full scale invasion of Ukraine by Russia.

(01:32:30):
And it looks like EU ministers are going to meet
potentially next week in Brussels, but unclear whether this deal
will be approved as a whole or even just backed
by a coalition of willing countries. I'm afraid that emergency
summit that the EU leaders held hastily panics about why
they hadn't been involved to that initial Russia US meeting

(01:32:54):
in the Middle East, well, I'm afraid it didn't yield
very much. But perhaps it did you and something that
we didn't find out at the time, which is this
gathering too effectively put together this massive military package. But
again not confirmed yet, but the divergence of used by
European leaders playing for all to see with Germany's Chancellor

(01:33:14):
all Our Schultz saying the discussion about troops on the
ground was completely premature and saying he was slightly irritated
by the whole thing.

Speaker 3 (01:33:22):
Oh really, in referring to Starmer's check.

Speaker 27 (01:33:26):
Yeah, and referring to the fact that France as well
seems to be veering in a more hawkish, bullish line
than the rest of the EU.

Speaker 3 (01:33:34):
Well, of course all the Schultz has got problems back.
They're going to the polls and the days, aren't they.
So it's a bit hard to find out, I suppose
what is exactly what they're thinking in a cohesive way.
How's the pope going?

Speaker 27 (01:33:45):
Given Yeah, we now learned that the Pope has pneumonia
in both lungs, which is really extremely serious. So at
the moment we do know that all the events that
were planned and all the things that the Pope was
due to attend for the end of this week and
indeed into the weekend and over the weekend, that has

(01:34:08):
all been canceled. Others have been lined up to take
his spot, as it were, and to fulfill those engagements.
But yeah, extremely serious for the Pope. The eighty eight
yard Pontiff as well known as having problems with his
lungs and of poor health. But this is I think
the most serious update that we've had since he went

(01:34:29):
to hospital back on Friday.

Speaker 3 (01:34:31):
Hopefully he's all right. I'm sure there are many people
around the world praying for him. A teeny tiny house
is just a we have them here at teeny tiny
homes we call them in Cornwall. How much are they
asking for this tiny home?

Speaker 27 (01:34:44):
Well, an unbelievable some of money. Let me give you
some figures. It's down in Cornwall, which is down in
the extreme southwest of England, and it's a small house.
It's even called the Dolls House in porth leaven in Cornwall,
and it was really built between two full sized detach houses.
It's basically in an alleyway and was built on it's
one bedroom. It is only ninety centimeters wide in places

(01:35:11):
and have a total square footage area on the first
floor of fourteen point eight square meters that's one hundred
and fifty nine square feet ground four slightly bigger one
hundred and eighty square feet sixteen point seven square meters
and it's up for sale for about five hundred and
fifty thousand new Zealand dollars. It does have the most

(01:35:33):
amazing view, but there isn't much room to sit and
admire it. You've got to tilt your seat into one
particular position. But despite it coming up for sale, despite
a very quirky design and shape, squeezed in this alleyway,
as I mentioned, between two other buildings, it has the
most outstanding views of the Lizard Peninsula out over the
coast and unspoilt terrain. But yeah, whether you'd be prepared

(01:35:57):
to give it that much money just as somewhere to
live or maybe a getaway for the weekend, well, I
know it seems an awful lot to.

Speaker 3 (01:36:05):
Me, certainly does Gavin for such a tiny, teeny tiny
little bit of land as well. Gavin Gray are UK correspondent.
Thanks for being with us. It is ten away from
seven on News Talk ZIBB coming up next. I don't
want to bore you with the headline, so maybe I
shouldn't say the headline. Just don't say the headline. I'll
read it for you. The implications of global tariffs for
the New Zealand economy. All right, that's from the Reserve

(01:36:27):
Bank Monetary policy statement from today. I'll get to that
next for you, because there's some interesting tidbits in there
which I do think you will be interested in. We're
also going to get to the song that will get
us out this evening answer standing by with that, so
perhaps actually to make it a little more light, we
could sing the implications of global tariffs for the New

(01:36:48):
Zealand economy. When we come back News Talk SIBB.

Speaker 1 (01:36:51):
It's the Heather Tuplicy Allan Drive Full Show podcast on
iHeartRadio powered by News Talk ZEBB.

Speaker 3 (01:37:00):
Even on News Talk ZVB. So the Reserve Bank today
and its monetary policy statement gave us a little update
on the potential impact of tariffs for New Zealand and
for our economy, but also for the world's economy. So
this is, if Trump goes ahead with his tariffs, there
will be a larger negative impact on economic growth and
more inflationary pressure in the country that imposes the tariffs.

(01:37:20):
So that obviously makes sense, right because it's those consumers
that end up paying it. Similarly, they say there will
be a larger negative impact on economic growth in the
tariff targeted country, So basically there will be an effect
reduced economic growth in America, but there would also be
reduced economic growth in Mexico or Canada or China for example.
And what does that mean when you start talking about

(01:37:42):
less growth in countries like that, It means global growth
is down. It means more inflation in the US. And
when there's inflation in the US, it's never good for
the global economy. But what does that mean for US? Well,
there's two ways that we can be affected by tariffs.
One is directly, and at the moment it looks like
I mean, we've had some steel and aluminium, but at

(01:38:02):
the moment we're kind of hoping to get off scot free.
Maybe maybe we'll get slapped with a general ten percent.
But at China, all those other big players that will
affect us, and that's according to the Reserve Bank, where
we will be most affected as indirectly. So if China
gets hit, China gets weak, we sell a lot to China.
That is bad for US. News talks B five Away

(01:38:23):
from seven and it's what are we going out.

Speaker 13 (01:38:25):
To Wildflower by Billy Eilish to play us out tonight?
Billy Eilish is touring in Australia at the moment and
you know, skipping us, But that's okay. We're over that,
and some fans aren't terribly happy at how much the
merch is costing. So this is all in Australian dollars,
So add maybe like five to twenty dollars to these.
But a blue canvas belt fifty bucks, a necklace one

(01:38:46):
hundred and twenty bucks. Boxes you can get Billy Eilish
boxes at the concert if you're running short on underwear
and you sort of want some, So those are those
are fifty bucks or three for ninety so you can
save a bit there if you're buying. But I mean,
you know you're gonna go through a few sets.

Speaker 15 (01:39:01):
Aren't you.

Speaker 13 (01:39:01):
And then the most expensive one though a hoodie. A
to a hoodie two hundred and twenty Australian dollars from
Billie Eilishes. That's two hundred and forty five New Zealand dollars.
I've been to concerts where the ticket was much less
than that.

Speaker 3 (01:39:13):
What's the tiff on the hoodies?

Speaker 13 (01:39:15):
Well, it's not in the basket of goods and services
they look at for the inflation.

Speaker 3 (01:39:21):
Nice one as I did promise I'd singing something, but
I lied. I lied. See you tomorrow.

Speaker 28 (01:39:48):
Do you see in the back of your mind.

Speaker 1 (01:40:37):
Welcome For more from Hither Duplessy Allen Drive, listen live
to news talks it'd be from four pm weekdays, or
follow the podcast on iHeartRadio

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