July 10, 2024 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast for Thursday 11th of July the OCR is out and the Reserve Bank's outlook is looking better than expected.
A five-point strategy for climate change has been released by the Government, but is there actually a strategy behind it or is it just words? Ryan finds out.
Building costs have dropped for the first time in 12 years, but so have the number of new construction projects. Ryan speaks to NZ Certified Builders' Malcolm Fleming.
Nancy Pelosi drops the equivalent of a NATO bomb on her old buddy Joe Biden, saying he needs to make a decision about running for re-election.
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Speaker 1 (00:01):
The issues, the interviews, and the inside. Ryan Bridge you
for twenty twenty four on the Early edition with Smith City,
New Zealand's Furniture Vans and a play a store us Dogs.
Speaker 2 (00:15):
It'd be good morning, early writers, good morning movers and shakers.
It's great to have you listening this morning. A lot
has happened overnight, mainly in the States. Will keep you
up to date with what's going on. There's a saying
in politics that basically it's show business for ugly people,
and you look at someone like Biden, or you look
at someone like Nancy Pelosi and you'd probably say, yep,
(00:35):
they are pretty ugly. However, real Hollywood is weighing into
Washington's politics this morning. George Clooney, who's actually hot, isn't
he the actor? You'd all agree with that. He has
written an op ed for the New York Times, and
he's very influential in the Democratic Party. He is calling
for Joe Biden to stand down his campaign for reelection
(00:58):
to be president. This morning, Nancy Pelosi has dropped a bombshell,
and at five to twenty six this morning, I'll tell
you more about that. Katherine Ferkin is with us from
the United States to break it all down at five
point forty four. Also, this three page climate action plan
that the National Party has released. You would have seen
it in the news yesterday. I would have thought three
(01:18):
pages is better for the environment, less printing, right? Apparently not.
We're gonna speak to someone about that. Russell Norman's got
his neck is all twisted and we ask you the question,
what is better gas or coal? It's just gone seven
after five.
Speaker 1 (01:35):
The agenda.
Speaker 2 (01:37):
Thursday, the eleventh of July, the Prime Minister is in Washington, DC,
meeting with lawmakers ahead of the NATO summit, which is underway.
The big story in the US, of course, is still
Joe Biden and his debate performance, which Luxen was asked about. Again,
I'm not talking about US tomestic politics.
Speaker 3 (01:53):
I'm here as Prime Minister of New Zealand's My job
is to work with whoever the leader is.
Speaker 2 (01:57):
Yes, smart moves, stay out of it. The Prime Minister
sets a whole by lateral talks with world leaders. Today
they include Justin Trudeau of Canada. Who can you believe
this has been in power now for nine years? Trudeau
and they just lost. They just had a bioection in Toronto,
they lost quite a safe seat, so people are saying
he looks shaky, but there is a poll out saying
most people think he will stand again for re election
(02:20):
by twenty twenty five. Incredible. Machron on the other hand,
of course in a bit of peril, but so he'll
had meetings with Trudeau and Matron today. Meanwhile, back here
in New Zealand, Northland's Chamber of Commerce is heading out
at power grid operator trans Power, saying it's damaging its
reputation by not providing compensation to businesses impacted by last
month's power outage. Much of Northland lost power when workers
(02:42):
cleaning a transmission tower removed too many nuts, causing the
tower to collapse. Northern Chamber of Commerce CEO Darren Fishers's
conversation wouldn't have to be heaps some.
Speaker 4 (02:52):
Sort of good will gesture that at least they recognized
the pain that was caused and tried to make it right.
I think from a brand point of view, in a
moral that's the least that Transfer could have done.
Speaker 2 (03:03):
In New Zealand has been ranked the best place in
New Zealand to work, apparently according to a Ranstad employer's survey.
Also in the top five with a Department of Conservation,
Customs and consulting firms PwC and WSP. It's the second
year in a row that in New Zealand has taken
out the top spot. Don't they give you free flights
if you work for in New Zealand? There you go
(03:23):
easy conservation. You get to roam free around New Zealand Customs.
I don't know. Free drugs they take those homes all right?
This morning, this is a weird story from China. A
man has been caught crossing from Hong Kong to the
mainland with more than one hundred live snakes stuffed into
(03:44):
his pants. According to local authorities, the snakes were in
six bags in the man's pockets. Authorities haven't said if
he has been arrested yet. It follows a man in
June being arrested trying to smuggle four hundred and fifty
endangered turtles from Macau to China. It has just gone
ten minut's after five.
Speaker 1 (04:01):
News and Views You Trust to start your day's early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Beds and a Flying Store.
Speaker 2 (04:10):
News Talk said, be one hundred snakes in your pants.
Some of us only need one. Right. I'm George Clooney.
I mentioned him earlier in the program. I'm going to
read you a little bit of what he has written
for The New York Times. He says, I'm a lifelong Democrat.
I make no apologies for that. I'm proud of what
my party represents and what it stands for. As part
(04:31):
of my participation in the democratic process and in support
of my chosen candidate, I have led some of the
biggest fundraisers in my party's history. All Right, we get it.
You're rich and you've got rich mates. He goes on
to say that he loves Joe Biden. He loves loved
him as a senator, loved him as a vice president,
loved him as a president. But the one battle, says
(04:51):
George Clooney, that he cannot win, is the fight against time.
None of us can. It's devastating to say it, but
the Joe Biden I was worth three weeks ago at
a fundraiser was not the Joe big effing deal Biden
of twenty ten. He wasn't even the Joe Biden of
twenty twenty. He was the same man that we all
witnessed on that debate stage, so that I mean that's cutting.
(05:14):
This is one of his mates, one of his biggest supporters,
and it gets much much worse for Joe Biden because
one of his biggest political supporters, and Nancy Pelosi, has
also dropped a bombshell nothing quite as overt as this
on Joe Biden overnight and NATO sized bombshell. I'll tell
you about that at five twenty six. Very quickly though
(05:34):
to NATO. There is good news for Ukraine that has
come out of the summit already. Ukraine is to get
more F sixteen fighter jets. The Danish and the Dutch
governments are in the process of donating their American made
the F sixteens are donating these to the Ukrainians and
they will have them flying this summer, which is good.
(05:55):
Zaninsky is happy. They were worried that this might escalate
things if you go to war in the skies, you know,
allowing Ukraine to defend the skies against missiles and drones,
et cetera, that you might escalate things with Russia, which
is a nuclear power. They've obviously decided to held with that.
We are going to give them the F sixteenth and
We're going to do it by summer. It has just
gone twelve minutes after five coming up next. It's three
(06:18):
pages long. So why has National's climate change plan been
so controversial?
Speaker 1 (06:25):
The news you need this morning and the in depth
analysis early edition with Ryan Bridge and Smith City, New
Zealand's furniture beds and a playing store.
Speaker 2 (06:34):
News Talk said B fourteen after five, Love your feedback.
Nine two ninety two is the number to text me
this morning. There's been a vicious backlash from the government's
climate change strategy release that was put out last night.
Opposition Mpece have slammed it, arguing that Simon wants the
minister has essentially published a pamphlet to disguise the fact
that government has done little to reduce emissions. It sets
(06:57):
out five key priorities to folks on when it comes
to climate efforts on the government's behalf. Lisa McLaren is
from the Climate Activist Group three point fifty alts Head
Oranges with me this morning. Lisa, good morning, Thank you
for being with me. Can I start with good morning,
good morning? Five quick fire questions for you this morning?
Do you generally agree with these sentiments of what the
(07:21):
statements I'm about to make. We should have infrastructure that's
resilient and communities well prepared for climate change. Do you
think that's a good objective?
Speaker 5 (07:31):
Definitely, though you can do that many different ways.
Speaker 2 (07:33):
All right, What about do you think we should have
pricing emissions and pricing them fairly and effectively to incentivize
emission's reductions.
Speaker 5 (07:42):
Again, there's like a wide range of different sative carbon
markets and pricing mechanisms out there.
Speaker 2 (07:48):
But generally, generally you agree with that.
Speaker 5 (07:52):
If it's done well.
Speaker 2 (07:53):
Okay. Do we need abundant and affordable clean energy?
Speaker 4 (07:58):
We do?
Speaker 2 (07:58):
Okay. Do we need to be old leading climate innovators?
Speaker 5 (08:03):
I think the ship might have sailed with that. We're
already quite behind the rest of the world and a
whole lot of stuff around climate innovation. So it's great
to tame.
Speaker 2 (08:12):
Okay. So it's a good But in terms of high
level aims, you're on board with that and nature based
solutions to address climate change, I'm going to say yes
for you, because I mean, and that's a given, isn't it.
So what what what this means is you've just agreed
with all five of the points the government's made. So
what exactly are you upset about?
Speaker 5 (08:33):
So I think you can put a nice little plan
down on a couple of pieces of paper and it
can look fine if it's high level and there's a
few nice sentences that actually, this plan, well if you
can call it a plan, is fundamentally inconsistent with the
government's other policies that have been releasing since they've got
into office. The impact climate change, so expects tellers that
(08:58):
to meet out Paris taggarts when it keeps it five
percent of oil and gas reserve and ninety percent of
all coal reserve there must be left in the ground.
It's just that simple. And this government wants to do
the opposite, or they've been talking about it seems in
the media since they got into powers, oil and gas inspiration,
maybe reversing that ban, looking at mining on conservation land,
(09:21):
things that we thought were left in the past, that
they're not consistent with climate action, okay, and that makes
this new plan really meaningless.
Speaker 2 (09:30):
All right, So it's the other things that they're doing.
Let's talk about that oil and gas ban. What do
you think is happening Because the government is saying, you know,
we don't want to go and get the oil and
gas out. But if we don't, then we're going to
be importing dirty Indonesian coal. So what do you think
is better New Zealand gas or dirty Indonesian coal?
Speaker 5 (09:50):
Well, I don't think either. If we get a good
infrastructure plan happening now, we need that investment in our
renewable energy infrastructure now. And also the governments are sending
these signals out to overseas. Companies are just going to
come and instruct it, take the profits overseas, whereas actually,
if we look at things like proper energy storage here,
(10:11):
we can make the power cheap of the households improve
their energy security as a company.
Speaker 2 (10:15):
I'm just going to read things like I'm just sorry
to interrupt you, but I'm just going to quickly read you, Lisa.
This is just a headline from Radio and New Zealand
from the eight of May of this year, Genesis Energy
to fire up coal imports citing increased demand and dwindling
gas supply. So this is after the last government band
oil and gas. You've now got sitting at Genesis Energy,
(10:37):
sitting at the Huntley Power station, half a million tons
of coal that they've imported, and they're about to pull
trigger on importing another three hundred and fifty thousand tons.
So you're saying that we've got enough to transition, but
clearly we don't. I mean, otherwise we wouldn't be importing
all this coal, right.
Speaker 5 (10:57):
I think if you look over seas, there's some great
examples where some of this new renewable and clean energy
infrastructure is helping with some of those like peaks and
troughs of the energy market. So things like we saw
recently Australia electric vehicles, we're helping keep for the power
grids like rebalanced if that national grid losers supply really
(11:20):
quickly so they can be used as a backup and
emergency other technology out there. Why do we want to
go back to the stuff that actually is climate harming.
Speaker 2 (11:29):
Yeah, but Lisa, do you see the problem that it's
it's the lesser of two evils. It's not like it's
not like the government is out there saying we want
to be getting all this out and doing all these
nasty things.
Speaker 5 (11:39):
I think they are though, Like if he's looking Reshturck
and know if you look at Shane Jones's rhetoric in
the news, these talking about drill, baby, drill, we're open
for business. There's these climate hippies have got nothing on us.
We can just do this. This is the right thing
to do. Their unicorns like. That's not a government that's
going out there and saying this is the like last
(12:01):
case like solution we need. This is something they're actively promoting.
Speaker 2 (12:06):
Lisa, thank you very much for your time this morning.
That's Lisa McLaren. She's the three point fifty Altied Dour spokesperson.
It is twenty after five. We'd love to know what
you think about this issue. Nine to niney two is
the number to text. We'll be back in just a second.
Are we're looking at Biden and Pelosi out of the states.
Speaker 1 (12:22):
The first word on the News of the Day early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Beds and Appliant Store News Talk Zippy.
Speaker 2 (12:32):
Twenty two after five, Mark says, and what lifetime do
you think renewables will cover all our needs? And at
what cost to our country? Right now? Core Logics called
our Construction Price Index has recorded the first drop in
construction costs in twelve years since the index started looking
at prices. This should mean that we get cheaper houses
when we're building right Joining me now is the new
(12:53):
Zealand Certified Builders Chief executive Malcolm Fleming. Malcolm, what does
it mean?
Speaker 6 (13:00):
The drop in building US means it's a great time
time for home bok owners to consider a building project.
Global supply chains are no longer disrupted, so costs are
returning to where they were pre pandemic and falling demand
for building materials has led to manufacturers and distributors becoming
more competitive worth they're product pricing, so homeowners can now
(13:22):
be more discerning about the builder engage to set their
building project up for success. Home owners should be insisting
on a trade qualified builder is aligning to the trade
associating because they have choice.
Speaker 2 (13:34):
Now, what does it mean for trade? These wages? Are
they going down or are they just not rising at
the same rate?
Speaker 6 (13:42):
Wages generally have stabilized four point one percent was the
last on that. In terms of statistics, there has been
a slow down and the wage rises generally a constant sector.
Material costs are coming down, as we've just been talking about,
and part of an example of that is manufacturers and
(14:02):
disputed distributors of building products are becoming more competitive. So
in action, what we're seeing is merchants approaching our members
about opening your accounts with them at attractive pricing, and
that's something we never saw a cost two thousand and
twenty twenty two.
Speaker 2 (14:19):
This is all good news. Does this mean that we're
going to see cheaper first into the first homes or
new homes cheaper?
Speaker 6 (14:28):
I think we're going to see some of those costs
coming through. Another driver behind this as well as subcontractor
margins are under pressure as demand is for so subcontractor
margins are a lot higher and more elastic than a
builder's margin, and downward movement in that space has an
impact and that's what we're starting to see now. So
again a really good time for homeowner to consider a
(14:50):
building project.
Speaker 2 (14:50):
Malcolm, thanks for your time. Malcom firming with us this
morning the New Zealand Certified Builders Chief Executive and we've
got the latest on the Nancy Pelosi Joe Biden situation.
Speaker 1 (14:59):
Next, separating the Fact from the Fiction Kids Billing edition
with Smith City, New Zealand's Furniture Beds and Appliant Store.
Speaker 2 (15:08):
News Talk ZBB. Right, it's just gone twenty seven after
five here on News Talk ZBB. Nancy Pelosi's just dropped
the equivalent of a NATO bomb on her old buddy,
Joe Biden. The former House Speaker, is well connected, she
is respected within the Democratic Party. She's always on cable television,
and she had this to say when asked about Biden's
critics attacking his mental capacity during the NATO summit.
Speaker 7 (15:32):
I want him to do whatever he decides to do.
Let's just hold off whatever you're thinking. Either tell somebody privately,
but you don't have to put that out on the
table until we see how we go this week.
Speaker 2 (15:46):
So what is the problem with that? Well, remember Biden
has already said this.
Speaker 4 (15:50):
I am running and gonna win again.
Speaker 2 (15:53):
So now you have the most influential, one of the
most influential people in the Democratic Party saying he needs
to make it decision about whether to run, and you
have the candidate saying I've made the decision. I am running.
It's very messy, it's huge, actually, and the White House
is going to be and a tailspin over this and
(16:13):
it doesn't stop there. Overnight, Michael Bennett became the first
Democratic Senator to publicly say that Joe Biden can't win.
Speaker 3 (16:21):
In fact, Donald Trump is on track I think to
win the selection and maybe win it by a landslide.
Speaker 2 (16:29):
In a political crisis, there are headlines like gunfire. Then
there are bombs, which cause massive, often irreversible damage to
a candidate. They can change the direction of a war,
a turning point, if you will. And make no mistake
when this happens in politics, it's always actually worse when
it's friendly fire. Remember, just a couple of days to
(16:51):
go at NATO and one solo press conference from the
Commander in Chief on Thursday ending this seventy fifth anniversary
NATO summit. The only question now is whether it could
also become the platform for the eighty two year old
president to also end his political career. Ryan Bridge just
(17:14):
gone twenty nine minutes after five. We'd love your feedback
on that nine two ninety two. I did say at
the start of the week, didn't I that? I thought
he's probably going to stick around because the alternatives and
the chaos that you cause by pulling out of a
race are too much. But I'm starting to change my mind.
I mean, what is it Thursday. You're allowed to change
your mind, don't you. We've got news coming up with
(17:35):
never Etimanu and after that we are live to the
United States for all the fallout with Catherine Ferkin our US.
Speaker 1 (17:41):
College get ahead of the headlines, Ryan Bridge, you for
twenty twenty four on early edition with Smith City, New
Zealand's furniture bids and a play a store.
Speaker 2 (17:52):
News Talk said, be good morning, New Zealand. It is
twenty four away from six zero. News Talk's early edition
was me, Ryan Bridge, good to have you with me
this morning. We've just had a text come in from
(18:14):
Tea who says, I'm not sure if it was a
small earthquake or a big truck in Otago. Did I
imagine something that happened ten minutes ago. I don't know.
Maybe I can tell you what it might have been.
There is a once in a lifetime explosion about to
create a new star in the sky. Sounds fascinating, right,
So you read the story on and you find out
(18:35):
that any night now this new star or nova will
appear in the night sky and we will see it
from New Zealand, which is awesome. It's called tcore Boar
and it's a constellation of the Northern Crown, which is
prominent in the northern hemisphere but also visible in the
northern sky from Australia and New Zealand over the next
few months. So this is three thousand light years away,
(18:58):
which is too faint to be said, and once every
eighty years. See, this is where it gets interesting. It's
not actually a new star that you're going to see.
It will be visible for about three days. It's not
a new star. It's an old star that sort of
blows up every eighty years, and it will become fifteen
hundred times brighter than usual, which is why you'll be
able to see it, and you should be able to
(19:19):
see it with the naked eye, which is pretty cool.
So the star itself is well past its prime and
it's now what they call a a stellar remnant, known
as a white dwarf, which I thought should be a
little person in today's context, but whatever, here we are.
So what happens is the white dwarf and this is
(19:39):
me explaining science, so you know, go figure. The white
dwarf sits next to a red giant, which is a
different type of star. The dwarf sucks up the red
Giant's gas. The pressure gets so high that a thermonuclear
reaction happens and boom, the skylights up and you can
see it for about three days, which is very very interesting.
(20:00):
Lots of feedback coming in speaking of reactions and how
you might create energy, lots of feedback coming in on
zero carbon and how we might create a more sustainable
energy future in New Zealand. We'll get some of that
feedback shortly. Right now though, it is twenty two away.
Speaker 1 (20:17):
From Sex Rayan Bridge.
Speaker 2 (20:19):
And we're going to Dunedin with Culum Proctor Culum Larnark Castle.
Some restoration work going to happen here morning Ryan.
Speaker 8 (20:26):
This is a crucial work to ensure the historic building's future.
Speaker 2 (20:30):
Contractors there are on site.
Speaker 8 (20:31):
The castle covered in scaffolding and it's all about making
it more water tight. They're removing the compromised tower floor
and slate bedroom roof tiles and it concerned that they
just may uncover more damage than expected. Here at the
Jadifacate day Manor Crichton says this work is key. She's
seen a lot of historic builds demolished by neglect after
(20:53):
failures to keep up with maintenance like this.
Speaker 2 (20:56):
How's the weather today, Collum? But you good day of
the castle?
Speaker 9 (21:00):
Fine?
Speaker 8 (21:00):
Mostly find cloudy periods like wins the high eleven today brilliant.
Speaker 2 (21:03):
Thank you Emily ansel is in christ Church this morning
with the big day for Sinlay.
Speaker 10 (21:09):
Yes, definitely d day for Sinlay. The struggling South Island
dairy manufacturer decides this afternoon whether to accept a crucial
one hundred and thirty million dollar loan. Shareholders will vote
on the lifeline offer from a major Chinese shareholder, just
four days before its debt deadline. If it fails, our
third largest dairy processor will likely collapse. Federated Farmers Dairy
(21:31):
chair Richard McIntyre says that would leave many without a
processor in carving season. He says there's potential for another
company to jump in and take the supply, but Sinlay
Milk's closure would bring major ripple effects and stress to farmers.
Speaker 2 (21:47):
All right, what's the weather going to be like for
this meeting?
Speaker 10 (21:49):
Cloudy periods, patchy drizzle late evening, early morning, frost, light
winds with a high of twelve degrees.
Speaker 2 (21:55):
Emily, Thank you, Max toler Is and Wellington for us
this morning. More questions about how the utter te fery
ran a ground or is it more? Answers Max, Well,
that's the point.
Speaker 11 (22:04):
Really, you had the year, so you had the official
New Zealand First Twitter account posting a couple of days
ago this rumor that the intervind the ferry ran aground
because someone put it an autopilot to go get a
coffee and when they came back, they couldn't get it
off auto pilot and it effectively crashed. MZED first, copying
a lot of criticism, Chris Hipkins had to go yesterday.
(22:24):
Kbi Well said they got their facts wrong. Maritime New
Zealand told us its inquiries have so far found that
was not the case. But the post and newspaper reporting
that it was a mistakenly pressed execute button that sent
the ship of course and the crew could not indeed
wrestle it back from autopilot. That's an elked internal bulletin.
So whether this went to get a coffee rumor is true,
(22:46):
who knows. But Z First looking more justified at this point,
and as you say, we're getting a little closer to
finding out the facts.
Speaker 2 (22:52):
All right, Max, Thanks for that. How's the weather today
in the Capitol A.
Speaker 11 (22:55):
Cloudy period's the odd shower mostly after midday, southerly's eleven
the high.
Speaker 2 (23:00):
Thanks so much. Never ready moneyed with us in Auckland
this morning good morning, Good morning, some Auckland roads have
had a makeover.
Speaker 12 (23:05):
Yes, now, I know this isn't breaking news because you
know here in Auckland, it's just like Cone City, isn't it.
But Auckland Transport has come up with these numbers. They're
saying resurface more than four hundred kilometers of the region's roads. Now,
this is part of the summer road reno which they
committed to last year kind of like ending in June.
So this is the news that they're saying, Hey, hey,
(23:26):
we've done four hundred kilometers. Ellen Wallace is the road Esset,
Maintenance and Renewals manager. He says, look, this is the
biggest program of work that they've done since twenty eighteen.
But but but there's seven five hundred kilometers still.
Speaker 2 (23:42):
To go in total.
Speaker 12 (23:43):
So he's saying, hey, there's plenty of work to do.
So they've got a huge backlog. As if we didn't
know that, we wouldn't know ourselves. No, once things are normal, no,
I mean, you know everyone, what will that look like?
Speaker 2 (23:53):
That'll take them a few summers to get through that,
that's for sure. Speaking of summers, what's the weather looking
like today?
Speaker 12 (23:58):
Fine morning, cloud morning, frost shelter places for Auckland. Do
you believe it? A high fourteen four is the load tonight,
so it's pretty chilly for Auckland.
Speaker 2 (24:06):
Bit nippy all right, thank you so much. Never ready
money with us in Auckland this morning. It has just
gone eighteen minutes away from six o'clock when we come back.
We're live to the United States with Catherine Ferkin. Lots
of you texting in in reply to I think it
was Bob earlier that was it an earthquake? Was it
a big truck in Dunedin and Otago? I can tell
you that earthquake details five twenty am, five kilometers southwest
(24:30):
of all i'madu shaking was felt. It was a weak
magnitude of two point six at a depth of six kilometers.
Thank you for that text, Rob. We're back in a second.
Speaker 1 (24:40):
International correspondence with Ends and Eye Insurance. Peace of mind
for New Zealand business.
Speaker 2 (24:47):
And this is great about building costs coming down? Are
we ever going to get offered fixed price contracts like
they do overseas for new builds so that the costs
don't blow out? And then you're on the hook. There
is a good question we could put that to the
master builders that we had on earlier in the program
and put it to the next time. Thanks for your message.
At just gone sixteen away from six o'clock. Right now,
(25:09):
we're going to Catherine Ferkin, a US correspondent, because the
first Democratic Senator has questioned President Joe Biden's election chances.
It comes as Nancy Pelosi has weighed into this in
an awkward way too for Joe Biden. Catherine, Good morning.
What's the latest?
Speaker 9 (25:26):
Yeah, good morning, Ryan. Well, it just really keeps getting
worse for Joe Biden, doesn't it. I mean, now we're
basically a fortnight out from that disastrous debate between the
President and Donald Trump, and just nothing that he does
seems to be helping him in terms of improving his
standing amongst the American public. You know, since the debate,
we saw him, we've seen him out on the campaign trail,
(25:48):
We've seen him call up radio stations and TV stations,
We've seen him do a whole sit down TV interview
about what went wrong, and none of this is resonating
with voters. None of it is changing people's minds. Now,
as you mentioned today, we've heard from the first Democratic
senator who's spoken out with really the most damning comments yet.
(26:09):
Colorado's Michael Bennett says he fears his part and could
lose in a landslide to Donald Trump if Joe Biden
stays on the ticket. The language he used was really,
really strong. He says he believes Donald Trump is on
track to win November's election, and he's worried that he
will take both the Senate and the House if the
Democrats don't make a drastic change. Interestingly, he didn't actually
(26:32):
call for Biden to step down, but rather he said
the party itself now has a moral obligation to do
everything it can to stop Trump from returning to the
White House. You mentioned Nancy Pelosi there in the intro.
She's also given some really quite awkward comments about the
fact that time is running out for Biden to make
a decision. We've also heard from actor and Democratic donor
(26:55):
George Clooney today. He published a guest sa in The
New York Times basically saying we need a new nominee. Now.
This is particularly strong because Clooney is a longtime friend
of Biden's and he's outwardly passionate about the Democrats that
He says that Joe Biden I was with three weeks
ago at the fundraiser was not the Joe big effing
(27:16):
deal Biden of twenty ten. So unfortunately for Biden, I
mean all the signs appointing to exit stage left.
Speaker 2 (27:24):
Ryan Catherine, thank you very much for that. Our US
correspondent Katherine Ferkin with US Live from the United States,
twelve away from six. Very quickly from that, George Clooney
op ed, he says, and this is the death now.
I think for Joe Biden. We're not going to win
in November with this president. On top of that, we
won't win the House. We're not and we're going to
lose the Senate. This isn't only my opinion, this is
(27:45):
an interesting but this is the opinion of every Senator
and congress member and governor that I've spoken with in private,
every single one, irrespective of what he or she is
saying publicly, that is damning. It's eleven away four on
six o'clock here on zb Bridge Rich positive news from
the Reserve Bank. Despite the OCR remaining unchanged at five
(28:07):
point five percent, It's hinted that interest rate cuts could
be closer than previously thought. The RB and Z said
they expect inflation to drop within the target of one
to three percent later this year. It follows wide expectations
that interest rates would remain unchanged until next year. Sharon
Zomer is the A and Z Chief economist and is
with me now, Sharon, good morning. Has this changed your
(28:29):
view on when you think a rate cut might happen?
Speaker 13 (28:33):
Well, it was that bank was pretty careful to leave
all their options open. That comment about inflation falling back
in the band by the end of the year wasn't
actually you, but a couple of they did rehisterate they're
willing to change their mind, which of course they always
are and should be, but noted that rates will evolve
according to the conditions and that they've noted that the
recent data has been weaker, so certainly that the market
(28:57):
jumped on it. We'd see it as tilting and the
risk a little bit towards earlier cuts. But essentially it's
going to be the data that decides, and we've got
the inflation data next week, so with that and down
the track, the Reserve Bank was never going to come
out with a really really strong view because you know,
why would you when you could look a bit silly
(29:17):
a week later. So I think that's going to really
be a very very important piece of data.
Speaker 2 (29:23):
And are you following the same strategy.
Speaker 4 (29:28):
Pretty much what the data is.
Speaker 13 (29:31):
Yeah, yeah, Well it's really really important because in the
main monetary policy statements, the Reserve Bank decided that, gosh,
maybe this economy is just so unfit it can't run
very fast at all without overheating and generating inflation. So
they revised down their growth forecast. At the same time,
they revised up their inflation forecast pushed out their estimate
of when they'll be cutting. So it was like a
(29:51):
triple header of bad news. So hopefully we'll get some
better news next week that will make the Reserve Bank
more confident than they are winning the.
Speaker 2 (29:59):
Battle to hold your tongue. Hey, a hypothetical one for you.
If they were to drop this talk would be twenty
five basis points. What would be the real impact on
mortgage interest rates? What would the time lay be for people?
Just so that they can get an idea in their head.
Speaker 13 (30:16):
Well, actually it's the Reserve Bank only controls the overnight
interest rate, which feeds into the floating mortgage rate, but
the interest rates out one year, two year, even out
of forrest three years. That is actually determined mostly by
what the market expects the Reserve Bank to do, and
that actually changed yesterday quite a bit. The markets will
(30:36):
make it will come and go a little bit, and
the data next week will be important, as I said,
but certainly in the hour following what the Reserve Bank
said yesterday, rates dropped a lot, so you could potentially
see mortgage rates to fall well in advance of when
the Reserve Bank actually moves the official cash rates, just
as the symmetric situation to when the Reserve Bank was
hiking and you saw fax rates mortgages increase well before
(31:00):
the ocup. On the other side, the sex mortgage rates,
I'd like you to come down before they actually start cutting.
Speaker 2 (31:07):
All right, Sharon, thank you very much for that update.
Great to have you on the show. Sharon Zolner, the
A and Z Chief economist, holding her tongue staying mum,
just for now until we get more data, and we
will get inflation data. I think next week, isn't it, Sharon,
with you to get the next round. Yes, that's right, yep,
all right, we'll look forward to talking to you then. Sharon,
Zoler with us from the chief economist at A and Z.
(31:30):
It's just gone eight minutes away from six o'clock here
on News Talk ZB. We'll get to some of your
feedback in just a few moments. Also another another we
comment on the three page climate change plan the government
put out yesterday.
Speaker 1 (31:44):
That's next on your radio and online on iHeartRadio early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Bids and a playing Store.
Speaker 2 (31:54):
News Talk zed B six to six. So the three
page climate goal setting exercise that the government did yesterday,
all of the climate activists came out and said, wow,
that's to hide an MB report which is really really bad.
And the NBA report said, actually, we're going to pump
a whole lot more emissions into the atmosphere because we
are going for oil and gas. Again that same report,
(32:15):
it must be said, and Thomas Coglan from the Herald
points of this out. It noted that the policy also
has virtues. Using more gas would mean burning less coal,
which emits far more co two. They also said that
more gas would also mean a more stable electricity market,
which would encourage electrification. So there are upsides to this
(32:36):
as well. It is five away from six. Now Andrew
Dickens is with you after six. Good morning, coome onning
to you.
Speaker 3 (32:42):
Burned you could have burned something to do something. Have
you ever noticed that you've got to dig something out
of the ground to make everything? And where did your
Where did your shirt come from? Where did you shoes
come from? Everything comes from the earth. Medicines, chemicals, everything
comes from the earth. So and energy it comes from
the sun and it comes from burning stuff. Yay for
water and hydro electric, but yeah, you've got to burn
(33:03):
something absolutely and weave for water and hydro electric.
Speaker 2 (33:06):
But at some point you know there's there are black spots,
aren't there? And fill them? That's all right. What's on
the big show today?
Speaker 3 (33:12):
Well, the glimmer of hope for interest rates obviously because
of what about sex change words. Construction costs are coming down,
so this is good news. And there's that leak safety
bulletin about the grounding of the art of Teddy. So
we're going to talk to wins Peters, whose party did
the tweet in the first place, or the X or
whatever you call it, and he's got stuff to say.
Now he's had a look at the safety bulletin and
(33:34):
he's you know, he's acting Prime minister right now. So
that's at seven thirty five.
Speaker 2 (33:38):
We were debating whether the person was going to make
a coffee. Well you would. I had some theories on that.
Speaker 3 (33:44):
I'll tell you that later.
Speaker 2 (33:45):
Yeah, because I think you would push the autopilot to
go to the toilet, but not to make a coffee.
Speaker 3 (33:50):
You're going to push that oiler pilot for five long seconds, ah,
which is interesting. So you've got to know what you're doing,
and you've got to do it purposefully. It's not like, oh, no,
I push there or no pilot.
Speaker 2 (34:03):
No, it's a it's a it's a purposeful push. All right.
Andrew dickens with you after six o'clock. That's it for
me for this morning.
Speaker 1 (34:11):
See you tomorrow for more from News Talks ed B
listen live on air or online, and keep our shows
with you wherever you go with our podcasts on iHeartRadio
The issues, the interviews, and the inside. Ryan Bridge you
for twenty twenty four on the Early edition with Smith City,
New Zealand's Furniture Vans and a play a store us Dogs.
Speaker 2 (00:15):
It'd be good morning, early writers, good morning movers and shakers.
It's great to have you listening this morning. A lot
has happened overnight, mainly in the States. Will keep you
up to date with what's going on. There's a saying
in politics that basically it's show business for ugly people,
and you look at someone like Biden, or you look
at someone like Nancy Pelosi and you'd probably say, yep,
(00:35):
they are pretty ugly. However, real Hollywood is weighing into
Washington's politics this morning. George Clooney, who's actually hot, isn't
he the actor? You'd all agree with that. He has
written an op ed for the New York Times, and
he's very influential in the Democratic Party. He is calling
for Joe Biden to stand down his campaign for reelection
(00:58):
to be president. This morning, Nancy Pelosi has dropped a bombshell,
and at five to twenty six this morning, I'll tell
you more about that. Katherine Ferkin is with us from
the United States to break it all down at five
point forty four. Also, this three page climate action plan
that the National Party has released. You would have seen
it in the news yesterday. I would have thought three
(01:18):
pages is better for the environment, less printing, right? Apparently not.
We're gonna speak to someone about that. Russell Norman's got
his neck is all twisted and we ask you the question,
what is better gas or coal? It's just gone seven
after five.
Speaker 1 (01:35):
The agenda.
Speaker 2 (01:37):
Thursday, the eleventh of July, the Prime Minister is in Washington, DC,
meeting with lawmakers ahead of the NATO summit, which is underway.
The big story in the US, of course, is still
Joe Biden and his debate performance, which Luxen was asked about. Again,
I'm not talking about US tomestic politics.
Speaker 3 (01:53):
I'm here as Prime Minister of New Zealand's My job
is to work with whoever the leader is.
Speaker 2 (01:57):
Yes, smart moves, stay out of it. The Prime Minister
sets a whole by lateral talks with world leaders. Today
they include Justin Trudeau of Canada. Who can you believe
this has been in power now for nine years? Trudeau
and they just lost. They just had a bioection in Toronto,
they lost quite a safe seat, so people are saying
he looks shaky, but there is a poll out saying
most people think he will stand again for re election
(02:20):
by twenty twenty five. Incredible. Machron on the other hand,
of course in a bit of peril, but so he'll
had meetings with Trudeau and Matron today. Meanwhile, back here
in New Zealand, Northland's Chamber of Commerce is heading out
at power grid operator trans Power, saying it's damaging its
reputation by not providing compensation to businesses impacted by last
month's power outage. Much of Northland lost power when workers
(02:42):
cleaning a transmission tower removed too many nuts, causing the
tower to collapse. Northern Chamber of Commerce CEO Darren Fishers's
conversation wouldn't have to be heaps some.
Speaker 4 (02:52):
Sort of good will gesture that at least they recognized
the pain that was caused and tried to make it right.
I think from a brand point of view, in a
moral that's the least that Transfer could have done.
Speaker 2 (03:03):
In New Zealand has been ranked the best place in
New Zealand to work, apparently according to a Ranstad employer's survey.
Also in the top five with a Department of Conservation,
Customs and consulting firms PwC and WSP. It's the second
year in a row that in New Zealand has taken
out the top spot. Don't they give you free flights
if you work for in New Zealand? There you go
(03:23):
easy conservation. You get to roam free around New Zealand Customs.
I don't know. Free drugs they take those homes all right?
This morning, this is a weird story from China. A
man has been caught crossing from Hong Kong to the
mainland with more than one hundred live snakes stuffed into
(03:44):
his pants. According to local authorities, the snakes were in
six bags in the man's pockets. Authorities haven't said if
he has been arrested yet. It follows a man in
June being arrested trying to smuggle four hundred and fifty
endangered turtles from Macau to China. It has just gone
ten minut's after five.
Speaker 1 (04:01):
News and Views You Trust to start your day's early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Beds and a Flying Store.
Speaker 2 (04:10):
News Talk said, be one hundred snakes in your pants.
Some of us only need one. Right. I'm George Clooney.
I mentioned him earlier in the program. I'm going to
read you a little bit of what he has written
for The New York Times. He says, I'm a lifelong Democrat.
I make no apologies for that. I'm proud of what
my party represents and what it stands for. As part
(04:31):
of my participation in the democratic process and in support
of my chosen candidate, I have led some of the
biggest fundraisers in my party's history. All Right, we get it.
You're rich and you've got rich mates. He goes on
to say that he loves Joe Biden. He loves loved
him as a senator, loved him as a vice president,
loved him as a president. But the one battle, says
(04:51):
George Clooney, that he cannot win, is the fight against time.
None of us can. It's devastating to say it, but
the Joe Biden I was worth three weeks ago at
a fundraiser was not the Joe big effing deal Biden
of twenty ten. He wasn't even the Joe Biden of
twenty twenty. He was the same man that we all
witnessed on that debate stage, so that I mean that's cutting.
(05:14):
This is one of his mates, one of his biggest supporters,
and it gets much much worse for Joe Biden because
one of his biggest political supporters, and Nancy Pelosi, has
also dropped a bombshell nothing quite as overt as this
on Joe Biden overnight and NATO sized bombshell. I'll tell
you about that at five twenty six. Very quickly though
(05:34):
to NATO. There is good news for Ukraine that has
come out of the summit already. Ukraine is to get
more F sixteen fighter jets. The Danish and the Dutch
governments are in the process of donating their American made
the F sixteens are donating these to the Ukrainians and
they will have them flying this summer, which is good.
(05:55):
Zaninsky is happy. They were worried that this might escalate
things if you go to war in the skies, you know,
allowing Ukraine to defend the skies against missiles and drones,
et cetera, that you might escalate things with Russia, which
is a nuclear power. They've obviously decided to held with that.
We are going to give them the F sixteenth and
We're going to do it by summer. It has just
gone twelve minutes after five coming up next. It's three
(06:18):
pages long. So why has National's climate change plan been
so controversial?
Speaker 1 (06:25):
The news you need this morning and the in depth
analysis early edition with Ryan Bridge and Smith City, New
Zealand's furniture beds and a playing store.
Speaker 2 (06:34):
News Talk said B fourteen after five, Love your feedback.
Nine two ninety two is the number to text me
this morning. There's been a vicious backlash from the government's
climate change strategy release that was put out last night.
Opposition Mpece have slammed it, arguing that Simon wants the
minister has essentially published a pamphlet to disguise the fact
that government has done little to reduce emissions. It sets
(06:57):
out five key priorities to folks on when it comes
to climate efforts on the government's behalf. Lisa McLaren is
from the Climate Activist Group three point fifty alts Head
Oranges with me this morning. Lisa, good morning, Thank you
for being with me. Can I start with good morning,
good morning? Five quick fire questions for you this morning?
Do you generally agree with these sentiments of what the
(07:21):
statements I'm about to make. We should have infrastructure that's
resilient and communities well prepared for climate change. Do you
think that's a good objective?
Speaker 5 (07:31):
Definitely, though you can do that many different ways.
Speaker 2 (07:33):
All right, What about do you think we should have
pricing emissions and pricing them fairly and effectively to incentivize
emission's reductions.
Speaker 5 (07:42):
Again, there's like a wide range of different sative carbon
markets and pricing mechanisms out there.
Speaker 2 (07:48):
But generally, generally you agree with that.
Speaker 5 (07:52):
If it's done well.
Speaker 2 (07:53):
Okay. Do we need abundant and affordable clean energy?
Speaker 4 (07:58):
We do?
Speaker 2 (07:58):
Okay. Do we need to be old leading climate innovators?
Speaker 5 (08:03):
I think the ship might have sailed with that. We're
already quite behind the rest of the world and a
whole lot of stuff around climate innovation. So it's great
to tame.
Speaker 2 (08:12):
Okay. So it's a good But in terms of high
level aims, you're on board with that and nature based
solutions to address climate change, I'm going to say yes
for you, because I mean, and that's a given, isn't it.
So what what what this means is you've just agreed
with all five of the points the government's made. So
what exactly are you upset about?
Speaker 5 (08:33):
So I think you can put a nice little plan
down on a couple of pieces of paper and it
can look fine if it's high level and there's a
few nice sentences that actually, this plan, well if you
can call it a plan, is fundamentally inconsistent with the
government's other policies that have been releasing since they've got
into office. The impact climate change, so expects tellers that
(08:58):
to meet out Paris taggarts when it keeps it five
percent of oil and gas reserve and ninety percent of
all coal reserve there must be left in the ground.
It's just that simple. And this government wants to do
the opposite, or they've been talking about it seems in
the media since they got into powers, oil and gas inspiration,
maybe reversing that ban, looking at mining on conservation land,
(09:21):
things that we thought were left in the past, that
they're not consistent with climate action, okay, and that makes
this new plan really meaningless.
Speaker 2 (09:30):
All right, So it's the other things that they're doing.
Let's talk about that oil and gas ban. What do
you think is happening Because the government is saying, you know,
we don't want to go and get the oil and
gas out. But if we don't, then we're going to
be importing dirty Indonesian coal. So what do you think
is better New Zealand gas or dirty Indonesian coal?
Speaker 5 (09:50):
Well, I don't think either. If we get a good
infrastructure plan happening now, we need that investment in our
renewable energy infrastructure now. And also the governments are sending
these signals out to overseas. Companies are just going to
come and instruct it, take the profits overseas, whereas actually,
if we look at things like proper energy storage here,
(10:11):
we can make the power cheap of the households improve
their energy security as a company.
Speaker 2 (10:15):
I'm just going to read things like I'm just sorry
to interrupt you, but I'm just going to quickly read you, Lisa.
This is just a headline from Radio and New Zealand
from the eight of May of this year, Genesis Energy
to fire up coal imports citing increased demand and dwindling
gas supply. So this is after the last government band
oil and gas. You've now got sitting at Genesis Energy,
(10:37):
sitting at the Huntley Power station, half a million tons
of coal that they've imported, and they're about to pull
trigger on importing another three hundred and fifty thousand tons.
So you're saying that we've got enough to transition, but
clearly we don't. I mean, otherwise we wouldn't be importing
all this coal, right.
Speaker 5 (10:57):
I think if you look over seas, there's some great
examples where some of this new renewable and clean energy
infrastructure is helping with some of those like peaks and
troughs of the energy market. So things like we saw
recently Australia electric vehicles, we're helping keep for the power
grids like rebalanced if that national grid losers supply really
(11:20):
quickly so they can be used as a backup and
emergency other technology out there. Why do we want to
go back to the stuff that actually is climate harming.
Speaker 2 (11:29):
Yeah, but Lisa, do you see the problem that it's
it's the lesser of two evils. It's not like it's
not like the government is out there saying we want
to be getting all this out and doing all these
nasty things.
Speaker 5 (11:39):
I think they are though, Like if he's looking Reshturck
and know if you look at Shane Jones's rhetoric in
the news, these talking about drill, baby, drill, we're open
for business. There's these climate hippies have got nothing on us.
We can just do this. This is the right thing
to do. Their unicorns like. That's not a government that's
going out there and saying this is the like last
(12:01):
case like solution we need. This is something they're actively promoting.
Speaker 2 (12:06):
Lisa, thank you very much for your time this morning.
That's Lisa McLaren. She's the three point fifty Altied Dour spokesperson.
It is twenty after five. We'd love to know what
you think about this issue. Nine to niney two is
the number to text. We'll be back in just a second.
Are we're looking at Biden and Pelosi out of the states.
Speaker 1 (12:22):
The first word on the News of the Day early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Beds and Appliant Store News Talk Zippy.
Speaker 2 (12:32):
Twenty two after five, Mark says, and what lifetime do
you think renewables will cover all our needs? And at
what cost to our country? Right now? Core Logics called
our Construction Price Index has recorded the first drop in
construction costs in twelve years since the index started looking
at prices. This should mean that we get cheaper houses
when we're building right Joining me now is the new
(12:53):
Zealand Certified Builders Chief executive Malcolm Fleming. Malcolm, what does
it mean?
Speaker 6 (13:00):
The drop in building US means it's a great time
time for home bok owners to consider a building project.
Global supply chains are no longer disrupted, so costs are
returning to where they were pre pandemic and falling demand
for building materials has led to manufacturers and distributors becoming
more competitive worth they're product pricing, so homeowners can now
(13:22):
be more discerning about the builder engage to set their
building project up for success. Home owners should be insisting
on a trade qualified builder is aligning to the trade
associating because they have choice.
Speaker 2 (13:34):
Now, what does it mean for trade? These wages? Are
they going down or are they just not rising at
the same rate?
Speaker 6 (13:42):
Wages generally have stabilized four point one percent was the
last on that. In terms of statistics, there has been
a slow down and the wage rises generally a constant sector.
Material costs are coming down, as we've just been talking about,
and part of an example of that is manufacturers and
(14:02):
disputed distributors of building products are becoming more competitive. So
in action, what we're seeing is merchants approaching our members
about opening your accounts with them at attractive pricing, and
that's something we never saw a cost two thousand and
twenty twenty two.
Speaker 2 (14:19):
This is all good news. Does this mean that we're
going to see cheaper first into the first homes or
new homes cheaper?
Speaker 6 (14:28):
I think we're going to see some of those costs
coming through. Another driver behind this as well as subcontractor
margins are under pressure as demand is for so subcontractor
margins are a lot higher and more elastic than a
builder's margin, and downward movement in that space has an
impact and that's what we're starting to see now. So
again a really good time for homeowner to consider a
(14:50):
building project.
Speaker 2 (14:50):
Malcolm, thanks for your time. Malcom firming with us this
morning the New Zealand Certified Builders Chief Executive and we've
got the latest on the Nancy Pelosi Joe Biden situation.
Speaker 1 (14:59):
Next, separating the Fact from the Fiction Kids Billing edition
with Smith City, New Zealand's Furniture Beds and Appliant Store.
Speaker 2 (15:08):
News Talk ZBB. Right, it's just gone twenty seven after
five here on News Talk ZBB. Nancy Pelosi's just dropped
the equivalent of a NATO bomb on her old buddy,
Joe Biden. The former House Speaker, is well connected, she
is respected within the Democratic Party. She's always on cable television,
and she had this to say when asked about Biden's
critics attacking his mental capacity during the NATO summit.
Speaker 7 (15:32):
I want him to do whatever he decides to do.
Let's just hold off whatever you're thinking. Either tell somebody privately,
but you don't have to put that out on the
table until we see how we go this week.
Speaker 2 (15:46):
So what is the problem with that? Well, remember Biden
has already said this.
Speaker 4 (15:50):
I am running and gonna win again.
Speaker 2 (15:53):
So now you have the most influential, one of the
most influential people in the Democratic Party saying he needs
to make it decision about whether to run, and you
have the candidate saying I've made the decision. I am running.
It's very messy, it's huge, actually, and the White House
is going to be and a tailspin over this and
(16:13):
it doesn't stop there. Overnight, Michael Bennett became the first
Democratic Senator to publicly say that Joe Biden can't win.
Speaker 3 (16:21):
In fact, Donald Trump is on track I think to
win the selection and maybe win it by a landslide.
Speaker 2 (16:29):
In a political crisis, there are headlines like gunfire. Then
there are bombs, which cause massive, often irreversible damage to
a candidate. They can change the direction of a war,
a turning point, if you will. And make no mistake
when this happens in politics, it's always actually worse when
it's friendly fire. Remember, just a couple of days to
(16:51):
go at NATO and one solo press conference from the
Commander in Chief on Thursday ending this seventy fifth anniversary
NATO summit. The only question now is whether it could
also become the platform for the eighty two year old
president to also end his political career. Ryan Bridge just
(17:14):
gone twenty nine minutes after five. We'd love your feedback
on that nine two ninety two. I did say at
the start of the week, didn't I that? I thought
he's probably going to stick around because the alternatives and
the chaos that you cause by pulling out of a
race are too much. But I'm starting to change my mind.
I mean, what is it Thursday. You're allowed to change
your mind, don't you. We've got news coming up with
(17:35):
never Etimanu and after that we are live to the
United States for all the fallout with Catherine Ferkin our US.
Speaker 1 (17:41):
College get ahead of the headlines, Ryan Bridge, you for
twenty twenty four on early edition with Smith City, New
Zealand's furniture bids and a play a store.
Speaker 2 (17:52):
News Talk said, be good morning, New Zealand. It is
twenty four away from six zero. News Talk's early edition
was me, Ryan Bridge, good to have you with me
this morning. We've just had a text come in from
(18:14):
Tea who says, I'm not sure if it was a
small earthquake or a big truck in Otago. Did I
imagine something that happened ten minutes ago. I don't know.
Maybe I can tell you what it might have been.
There is a once in a lifetime explosion about to
create a new star in the sky. Sounds fascinating, right,
So you read the story on and you find out
(18:35):
that any night now this new star or nova will
appear in the night sky and we will see it
from New Zealand, which is awesome. It's called tcore Boar
and it's a constellation of the Northern Crown, which is
prominent in the northern hemisphere but also visible in the
northern sky from Australia and New Zealand over the next
few months. So this is three thousand light years away,
(18:58):
which is too faint to be said, and once every
eighty years. See, this is where it gets interesting. It's
not actually a new star that you're going to see.
It will be visible for about three days. It's not
a new star. It's an old star that sort of
blows up every eighty years, and it will become fifteen
hundred times brighter than usual, which is why you'll be
able to see it, and you should be able to
(19:19):
see it with the naked eye, which is pretty cool.
So the star itself is well past its prime and
it's now what they call a a stellar remnant, known
as a white dwarf, which I thought should be a
little person in today's context, but whatever, here we are.
So what happens is the white dwarf and this is
(19:39):
me explaining science, so you know, go figure. The white
dwarf sits next to a red giant, which is a
different type of star. The dwarf sucks up the red
Giant's gas. The pressure gets so high that a thermonuclear
reaction happens and boom, the skylights up and you can
see it for about three days, which is very very interesting.
(20:00):
Lots of feedback coming in speaking of reactions and how
you might create energy, lots of feedback coming in on
zero carbon and how we might create a more sustainable
energy future in New Zealand. We'll get some of that
feedback shortly. Right now though, it is twenty two away.
Speaker 1 (20:17):
From Sex Rayan Bridge.
Speaker 2 (20:19):
And we're going to Dunedin with Culum Proctor Culum Larnark Castle.
Some restoration work going to happen here morning Ryan.
Speaker 8 (20:26):
This is a crucial work to ensure the historic building's future.
Speaker 2 (20:30):
Contractors there are on site.
Speaker 8 (20:31):
The castle covered in scaffolding and it's all about making
it more water tight. They're removing the compromised tower floor
and slate bedroom roof tiles and it concerned that they
just may uncover more damage than expected. Here at the
Jadifacate day Manor Crichton says this work is key. She's
seen a lot of historic builds demolished by neglect after
(20:53):
failures to keep up with maintenance like this.
Speaker 2 (20:56):
How's the weather today, Collum? But you good day of
the castle?
Speaker 9 (21:00):
Fine?
Speaker 8 (21:00):
Mostly find cloudy periods like wins the high eleven today brilliant.
Speaker 2 (21:03):
Thank you Emily ansel is in christ Church this morning
with the big day for Sinlay.
Speaker 10 (21:09):
Yes, definitely d day for Sinlay. The struggling South Island
dairy manufacturer decides this afternoon whether to accept a crucial
one hundred and thirty million dollar loan. Shareholders will vote
on the lifeline offer from a major Chinese shareholder, just
four days before its debt deadline. If it fails, our
third largest dairy processor will likely collapse. Federated Farmers Dairy
(21:31):
chair Richard McIntyre says that would leave many without a
processor in carving season. He says there's potential for another
company to jump in and take the supply, but Sinlay
Milk's closure would bring major ripple effects and stress to farmers.
Speaker 2 (21:47):
All right, what's the weather going to be like for
this meeting?
Speaker 10 (21:49):
Cloudy periods, patchy drizzle late evening, early morning, frost, light
winds with a high of twelve degrees.
Speaker 2 (21:55):
Emily, Thank you, Max toler Is and Wellington for us
this morning. More questions about how the utter te fery
ran a ground or is it more? Answers Max, Well,
that's the point.
Speaker 11 (22:04):
Really, you had the year, so you had the official
New Zealand First Twitter account posting a couple of days
ago this rumor that the intervind the ferry ran aground
because someone put it an autopilot to go get a
coffee and when they came back, they couldn't get it
off auto pilot and it effectively crashed. MZED first, copying
a lot of criticism, Chris Hipkins had to go yesterday.
(22:24):
Kbi Well said they got their facts wrong. Maritime New
Zealand told us its inquiries have so far found that
was not the case. But the post and newspaper reporting
that it was a mistakenly pressed execute button that sent
the ship of course and the crew could not indeed
wrestle it back from autopilot. That's an elked internal bulletin.
So whether this went to get a coffee rumor is true,
(22:46):
who knows. But Z First looking more justified at this point,
and as you say, we're getting a little closer to
finding out the facts.
Speaker 2 (22:52):
All right, Max, Thanks for that. How's the weather today
in the Capitol A.
Speaker 11 (22:55):
Cloudy period's the odd shower mostly after midday, southerly's eleven
the high.
Speaker 2 (23:00):
Thanks so much. Never ready moneyed with us in Auckland
this morning good morning, Good morning, some Auckland roads have
had a makeover.
Speaker 12 (23:05):
Yes, now, I know this isn't breaking news because you
know here in Auckland, it's just like Cone City, isn't it.
But Auckland Transport has come up with these numbers. They're
saying resurface more than four hundred kilometers of the region's roads. Now,
this is part of the summer road reno which they
committed to last year kind of like ending in June.
So this is the news that they're saying, Hey, hey,
(23:26):
we've done four hundred kilometers. Ellen Wallace is the road Esset,
Maintenance and Renewals manager. He says, look, this is the
biggest program of work that they've done since twenty eighteen.
But but but there's seven five hundred kilometers still.
Speaker 2 (23:42):
To go in total.
Speaker 12 (23:43):
So he's saying, hey, there's plenty of work to do.
So they've got a huge backlog. As if we didn't
know that, we wouldn't know ourselves. No, once things are normal, no,
I mean, you know everyone, what will that look like?
Speaker 2 (23:53):
That'll take them a few summers to get through that,
that's for sure. Speaking of summers, what's the weather looking
like today?
Speaker 12 (23:58):
Fine morning, cloud morning, frost shelter places for Auckland. Do
you believe it? A high fourteen four is the load tonight,
so it's pretty chilly for Auckland.
Speaker 2 (24:06):
Bit nippy all right, thank you so much. Never ready
money with us in Auckland this morning. It has just
gone eighteen minutes away from six o'clock when we come back.
We're live to the United States with Catherine Ferkin. Lots
of you texting in in reply to I think it
was Bob earlier that was it an earthquake? Was it
a big truck in Dunedin and Otago? I can tell
you that earthquake details five twenty am, five kilometers southwest
(24:30):
of all i'madu shaking was felt. It was a weak
magnitude of two point six at a depth of six kilometers.
Thank you for that text, Rob. We're back in a second.
Speaker 1 (24:40):
International correspondence with Ends and Eye Insurance. Peace of mind
for New Zealand business.
Speaker 2 (24:47):
And this is great about building costs coming down? Are
we ever going to get offered fixed price contracts like
they do overseas for new builds so that the costs
don't blow out? And then you're on the hook. There
is a good question we could put that to the
master builders that we had on earlier in the program
and put it to the next time. Thanks for your message.
At just gone sixteen away from six o'clock. Right now,
(25:09):
we're going to Catherine Ferkin, a US correspondent, because the
first Democratic Senator has questioned President Joe Biden's election chances.
It comes as Nancy Pelosi has weighed into this in
an awkward way too for Joe Biden. Catherine, Good morning.
What's the latest?
Speaker 9 (25:26):
Yeah, good morning, Ryan. Well, it just really keeps getting
worse for Joe Biden, doesn't it. I mean, now we're
basically a fortnight out from that disastrous debate between the
President and Donald Trump, and just nothing that he does
seems to be helping him in terms of improving his
standing amongst the American public. You know, since the debate,
we saw him, we've seen him out on the campaign trail,
(25:48):
We've seen him call up radio stations and TV stations,
We've seen him do a whole sit down TV interview
about what went wrong, and none of this is resonating
with voters. None of it is changing people's minds. Now,
as you mentioned today, we've heard from the first Democratic
senator who's spoken out with really the most damning comments yet.
(26:09):
Colorado's Michael Bennett says he fears his part and could
lose in a landslide to Donald Trump if Joe Biden
stays on the ticket. The language he used was really,
really strong. He says he believes Donald Trump is on
track to win November's election, and he's worried that he
will take both the Senate and the House if the
Democrats don't make a drastic change. Interestingly, he didn't actually
(26:32):
call for Biden to step down, but rather he said
the party itself now has a moral obligation to do
everything it can to stop Trump from returning to the
White House. You mentioned Nancy Pelosi there in the intro.
She's also given some really quite awkward comments about the
fact that time is running out for Biden to make
a decision. We've also heard from actor and Democratic donor
(26:55):
George Clooney today. He published a guest sa in The
New York Times basically saying we need a new nominee. Now.
This is particularly strong because Clooney is a longtime friend
of Biden's and he's outwardly passionate about the Democrats that
He says that Joe Biden I was with three weeks
ago at the fundraiser was not the Joe big effing
(27:16):
deal Biden of twenty ten. So unfortunately for Biden, I
mean all the signs appointing to exit stage left.
Speaker 2 (27:24):
Ryan Catherine, thank you very much for that. Our US
correspondent Katherine Ferkin with US Live from the United States,
twelve away from six. Very quickly from that, George Clooney
op ed, he says, and this is the death now.
I think for Joe Biden. We're not going to win
in November with this president. On top of that, we
won't win the House. We're not and we're going to
lose the Senate. This isn't only my opinion, this is
(27:45):
an interesting but this is the opinion of every Senator
and congress member and governor that I've spoken with in private,
every single one, irrespective of what he or she is
saying publicly, that is damning. It's eleven away four on
six o'clock here on zb Bridge Rich positive news from
the Reserve Bank. Despite the OCR remaining unchanged at five
(28:07):
point five percent, It's hinted that interest rate cuts could
be closer than previously thought. The RB and Z said
they expect inflation to drop within the target of one
to three percent later this year. It follows wide expectations
that interest rates would remain unchanged until next year. Sharon
Zomer is the A and Z Chief economist and is
with me now, Sharon, good morning. Has this changed your
(28:29):
view on when you think a rate cut might happen?
Speaker 13 (28:33):
Well, it was that bank was pretty careful to leave
all their options open. That comment about inflation falling back
in the band by the end of the year wasn't
actually you, but a couple of they did rehisterate they're
willing to change their mind, which of course they always
are and should be, but noted that rates will evolve
according to the conditions and that they've noted that the
recent data has been weaker, so certainly that the market
(28:57):
jumped on it. We'd see it as tilting and the
risk a little bit towards earlier cuts. But essentially it's
going to be the data that decides, and we've got
the inflation data next week, so with that and down
the track, the Reserve Bank was never going to come
out with a really really strong view because you know,
why would you when you could look a bit silly
(29:17):
a week later. So I think that's going to really
be a very very important piece of data.
Speaker 2 (29:23):
And are you following the same strategy.
Speaker 4 (29:28):
Pretty much what the data is.
Speaker 13 (29:31):
Yeah, yeah, Well it's really really important because in the
main monetary policy statements, the Reserve Bank decided that, gosh,
maybe this economy is just so unfit it can't run
very fast at all without overheating and generating inflation. So
they revised down their growth forecast. At the same time,
they revised up their inflation forecast pushed out their estimate
of when they'll be cutting. So it was like a
(29:51):
triple header of bad news. So hopefully we'll get some
better news next week that will make the Reserve Bank
more confident than they are winning the.
Speaker 2 (29:59):
Battle to hold your tongue. Hey, a hypothetical one for you.
If they were to drop this talk would be twenty
five basis points. What would be the real impact on
mortgage interest rates? What would the time lay be for people?
Just so that they can get an idea in their head.
Speaker 13 (30:16):
Well, actually it's the Reserve Bank only controls the overnight
interest rate, which feeds into the floating mortgage rate, but
the interest rates out one year, two year, even out
of forrest three years. That is actually determined mostly by
what the market expects the Reserve Bank to do, and
that actually changed yesterday quite a bit. The markets will
(30:36):
make it will come and go a little bit, and
the data next week will be important, as I said,
but certainly in the hour following what the Reserve Bank
said yesterday, rates dropped a lot, so you could potentially
see mortgage rates to fall well in advance of when
the Reserve Bank actually moves the official cash rates, just
as the symmetric situation to when the Reserve Bank was
hiking and you saw fax rates mortgages increase well before
(31:00):
the ocup. On the other side, the sex mortgage rates,
I'd like you to come down before they actually start cutting.
Speaker 2 (31:07):
All right, Sharon, thank you very much for that update.
Great to have you on the show. Sharon Zolner, the
A and Z Chief economist, holding her tongue staying mum,
just for now until we get more data, and we
will get inflation data. I think next week, isn't it, Sharon,
with you to get the next round. Yes, that's right, yep,
all right, we'll look forward to talking to you then. Sharon,
Zoler with us from the chief economist at A and Z.
(31:30):
It's just gone eight minutes away from six o'clock here
on News Talk ZB. We'll get to some of your
feedback in just a few moments. Also another another we
comment on the three page climate change plan the government
put out yesterday.
Speaker 1 (31:44):
That's next on your radio and online on iHeartRadio early
edition with Ryan Bridge and Smith City, New Zealand's Furniture
Bids and a playing Store.
Speaker 2 (31:54):
News Talk zed B six to six. So the three
page climate goal setting exercise that the government did yesterday,
all of the climate activists came out and said, wow,
that's to hide an MB report which is really really bad.
And the NBA report said, actually, we're going to pump
a whole lot more emissions into the atmosphere because we
are going for oil and gas. Again that same report,
(32:15):
it must be said, and Thomas Coglan from the Herald
points of this out. It noted that the policy also
has virtues. Using more gas would mean burning less coal,
which emits far more co two. They also said that
more gas would also mean a more stable electricity market,
which would encourage electrification. So there are upsides to this
(32:36):
as well. It is five away from six. Now Andrew
Dickens is with you after six. Good morning, coome onning
to you.
Speaker 3 (32:42):
Burned you could have burned something to do something. Have
you ever noticed that you've got to dig something out
of the ground to make everything? And where did your
Where did your shirt come from? Where did you shoes
come from? Everything comes from the earth. Medicines, chemicals, everything
comes from the earth. So and energy it comes from
the sun and it comes from burning stuff. Yay for
water and hydro electric, but yeah, you've got to burn
(33:03):
something absolutely and weave for water and hydro electric.
Speaker 2 (33:06):
But at some point you know there's there are black spots,
aren't there? And fill them? That's all right. What's on
the big show today?
Speaker 3 (33:12):
Well, the glimmer of hope for interest rates obviously because
of what about sex change words. Construction costs are coming down,
so this is good news. And there's that leak safety
bulletin about the grounding of the art of Teddy. So
we're going to talk to wins Peters, whose party did
the tweet in the first place, or the X or
whatever you call it, and he's got stuff to say.
Now he's had a look at the safety bulletin and
(33:34):
he's you know, he's acting Prime minister right now. So
that's at seven thirty five.
Speaker 2 (33:38):
We were debating whether the person was going to make
a coffee. Well you would. I had some theories on that.
Speaker 3 (33:44):
I'll tell you that later.
Speaker 2 (33:45):
Yeah, because I think you would push the autopilot to
go to the toilet, but not to make a coffee.
Speaker 3 (33:50):
You're going to push that oiler pilot for five long seconds, ah,
which is interesting. So you've got to know what you're doing,
and you've got to do it purposefully. It's not like, oh, no,
I push there or no pilot.
Speaker 2 (34:03):
No, it's a it's a it's a purposeful push. All right.
Andrew dickens with you after six o'clock. That's it for
me for this morning.
Speaker 1 (34:11):
See you tomorrow for more from News Talks ed B
listen live on air or online, and keep our shows
with you wherever you go with our podcasts on iHeartRadio
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