July 30, 2025 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast Thursday 31st of July 2025, The Government's given Kiwibank the green light for a capital injection from the private sector, Associate Professor at Massey University Claire Matthews tells Ryan Bridge whether it will impact banking competition.
The cost of flying to and from every airport in New Zealand is about to increase, Air Chathams CEO Duane Emeny shares his thoughts.
Energy Minister Shane Jones has announced a plan to double New Zealand's production of geothermal energy by 2040, Mercury Energy CEO Stewart Hamilton, shares his thoughts.
Plus US Correspondent Mitch McCann has the latest on The August 1st deadline looming and New Zealand calling for a two-state solution at the UN.
Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.
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Speaker 1 (00:01):
The issues, the interviews and the insight. Ryan Bridge on
an early edition with ex pole insulation keeping Kiwi Holmes
warm and.
Speaker 2 (00:09):
Tray this winter news talks. That'd be good morning.
Speaker 3 (00:12):
It is six after five Thursday to thirty, first of July.
Great to have your company this morning. Kiwibank's capital rays
we look at this before six o'clock and the potential
partial float of Kiwibank as well. You know, would Keywis
really care if foreigners partly owned our bank? Well, look
at that Chatham's Air The CEOs on the show. Regional
airlines are feeling the heat. The air traffic control costs
(00:36):
are going up by more than seventeen percent over the
next three years. So can they hold on? Mitch McCann
and the US for US. Oh, and congratulations, we've all
survived the great Tsunamani alert of twenty twenty five.
Speaker 2 (00:49):
The agenda.
Speaker 3 (00:54):
Yes, those alerts across the Pacific made more waves in
the headlines than they did in the water WAYI and
Japan have now downgraded their loots.
Speaker 4 (01:04):
The potential for strong currents or dangerous waves are expected
are occurring. For those in or near the water. There
may be flooding of beach or harbor areas. Those who
have evacuated new safety return home. Based on Kaunty assessments
and directors.
Speaker 3 (01:19):
The California coast and some small pots in North America
the only ones left with warnings for now.
Speaker 5 (01:25):
We are pretty lucky and in the United States West
Coast we are looking at mostly less than one meter
of water, which again means damages to coastlines and harbors,
but luckily not much inundation on land. The only part
that we still have in a warning, which is potentially
over one meter of water, where we do start worrying
(01:46):
about water flooding onto land is a small portion of
northern California.
Speaker 3 (01:52):
Trump tariff watched this morning. He's threatening India, this time
threatening twenty five percent tariff on impulse. They haven't made
the well the deadlines to morrow, but not looking like
they're going to meet it, So he's putting the pressure
on and he's promising some sort of penalty for India
buying Russian energy and weapons.
Speaker 6 (02:08):
It's not the end of the road. It seems more
like a bump. It seems that India from its side,
is hoping that they'll be able to convince US negotiators
the farewell.
Speaker 3 (02:19):
For Ozzie Osborne and Birmingham in the UK taking place overnight.
The Osborne family were in tears taking a moment to
read tributes and laid flowers.
Speaker 7 (02:27):
It's a bit of a somber atmosphere now, but as
you can hear, the chance of Ozzie's name are still
ringing out everywhere.
Speaker 8 (02:34):
But this is what Ozzie would have.
Speaker 7 (02:35):
Wanted, a celebration of his life rather than a morning
of his dad.
Speaker 1 (02:41):
The first word on the News of the Day early
edition with Ryan Bridge and ex Fole Insulation keeping Kighi
Holmes warm and dry.
Speaker 2 (02:49):
This winter news talk, sa'd be.
Speaker 8 (02:51):
So everybody's safe from the tsunami. That's good.
Speaker 3 (02:53):
They do say still to stay out of the water,
I mean, don't go boating this morning. Probably not the
smartest idea, but it was watching a lot of the
coverage yesterday out of Hawaii in particular, and you have
the news casters who were sitting there with a live
shot and the sun's fading, and I know what they're thinking.
They're thinking, Oh, the sun's going down and we won't
(03:14):
be able to show people when the actual tsunami comes,
which is the pictures that we want. However, never really
came did it. There was a bit of you know,
snarl up in the ocean, there was some sea going out,
but then it came back in and nothing really happened,
which is good, which is great because no one was hurt.
Speaker 8 (03:31):
But how do you have you.
Speaker 3 (03:33):
Know, they said it's the top ten in the top
ten recorded history biggest earthquake, it's a megaquake, one of
the strongest ever recorded, eight point eight magnitude, And of
course we had evacuations around the Ring of fire. But
how do you get at an earthquake so big and
then have so little damage? That's my question, not conspiracy
(03:56):
theorizing here, but it would just you know, how does
that have and how do you have such widespread tsunami
alerts with so little tsunami. It's not an exact science, obviously,
so I'm sure that that's part of the problem that
they have. But you know, they kept showing the same
house with the same facade crumbling. We saw that same
(04:18):
picture yesterday over and over and over again. And there
was another one of a house shaking with some tiles
coming off the roof, but that was about it. You know,
how do you get in the top ten biggest earthquakes
mega earthquakes in the history of a recorded history of
the world.
Speaker 8 (04:33):
And if two tiles fall off a guy's roof.
Speaker 3 (04:35):
In Russia, you know, someone who's smarter than me will
be able to answer that question. In terms of the tsunami,
the reason that they put the alerts out is because
they it's not an exact science and they just don't know.
And what's more, I was listening to a guy yesterday
who was a scientist, who was saying.
Speaker 8 (04:52):
Well, you know what would you rather.
Speaker 3 (04:53):
Would you rather have some alerts go out and potentially
save your life or would you rather a box day tsunami,
which you know two thousand and four we all remember
that there were no alerts then and how many two
hundred and thirty thousand people died, And I'm sure they
would have loved an alert. So yes, they're annoying. And
(05:14):
on top of all the weather ones we get. You know,
how many times is NIMA going to make my fine
vibrate this year?
Speaker 8 (05:22):
That's my question? Nine two ninety two is the number text.
Speaker 3 (05:26):
It's just gone eleven minutes after five here on news Talk,
sa'd be We're going to look at a couple of
things finance wise this morning. One is ki We Savor
and the other is kei We Bank Kiwi Bank potentially
getting a partial float.
Speaker 8 (05:39):
We'll look at that a little later on.
Speaker 3 (05:40):
And I've also got some numbers for you this morning,
a zero small Business Insights. This is the interesting one
from June. I'll give you those numbers next on.
Speaker 1 (05:50):
Your radio and online on iheard radio early edition with
Ryan Bridge and x Fole Insulation keeping Kiwi homes warm
and dry this winter, TALKSB News, Talks HEB.
Speaker 3 (06:02):
It's just gone fourteen after five. Here's yeah, zero small
Business Insights. This is for the June quarter. It's looking
at sales for our small businesses and it's not a
great story. So the June quarter was down zero point
one percent year on year. That's a drop from a
positive one point one percent year on year for the
March quarter. So we are going backwards, well behind the
(06:26):
long term national average two of six point three percent
year on year, and much behind Australia for quarter two
of twenty twenty five three percent for the Aussies and
we were minus zero point one. One good piece of
news to come out of this. It was released at
five o'clock this morning was an increase. This is for
the month of June, four point four percent year on
(06:48):
year for the month of June. So it looked to
be picking up towards tail end of the quarter, which
is obviously a good thing. And all your usual stories agriculture, good,
South Island good everything else bit lame.
Speaker 8 (07:00):
Quarter past five, Bryant Bridge.
Speaker 3 (07:02):
More energy is on the way and it's coming from
below our feet Energy mister Shane Jones announcing yesterday plan
to double our production of geothermal energy by twenty forty.
He says we have the potential to be a world
leader in the geothermal sector. Stuart Hamilton is Mercury Energy
CEO with me this morning.
Speaker 8 (07:20):
Hey Stuart, good morning, How are you good? Thank you?
What did you make of this?
Speaker 3 (07:24):
I mean it's a first of all, it's a draft plan,
but is there enough meat on the bones for you?
Speaker 9 (07:31):
Yeah, it's a good start, we think. Looking Zilland's already
a global leader in gfrmal energy production and we've produced
about twenty percent of our achristy from gffrmal compared to
a place like the US where it's less than one
so we've definitely got huge potential to not only just
use this to decarbonize as young, but actually potentially grow
our economy and various advanced technologies like supercritical.
Speaker 3 (07:53):
Why do we need the government to be stumping up
money for drilling new wells?
Speaker 9 (07:57):
So welling is a Drilling wells is a huge upfront
cost and large risk in geofrmal development. So we drill
wells are about three klimeters deep and each well cost
is about fifteen to twenty million dollars. So despite extensive investigation,
sometimes you can miss that hot liquid under our feet.
And when each geoffrmal field needs about ten to twenty wells,
(08:19):
it's a pretty large upfront cost and risk.
Speaker 3 (08:22):
How do you know where the hot liquid is? Well,
obviously it's not an exact science exactly.
Speaker 9 (08:27):
That you can do quite a lot of investigation from
the surface to get an understanding of what where the
liquid might be and when the heat might be, but
it's not until you actually start drilling that you get
a feel for whether you've got both the heat, but
you actually need to have the hot liquid as well,
so you need both of those in combination.
Speaker 3 (08:43):
When are we going to start drilling or are we
already you know, more than five k's for the real
potent stuff.
Speaker 9 (08:50):
Yeah, so the supercritical is something which we're working on
at the moment. There's probably going to be it's sort
of in development over the next couple of years, but
that in the meantime, we're actually doing quite a lot
of work with conventional GF thermal, so mercury. For example,
we're currently doing a three hundred million dollar expansion of
one of our sites and that will come on stream
(09:11):
early next year and produced enough power for the whole
of the city of Wellington, for example. So we're pushing
pretty hard with just the conventional geoffrmal in conjunction with
the supercritical.
Speaker 3 (09:21):
If we were to double what the Minister says we
should be doing, doubling the production of geothermal energy by
twenty forty how many holes.
Speaker 8 (09:30):
Do we need to drill? You know, how much is
this going to cost?
Speaker 9 (09:33):
Yeah, it's pretty significant, So doubling our energy, and even mercury,
we've got our own sort of goals to actually double
our size by twenty thirty five. So there's a fair
bit of investment and we're talking billions of dollars and
potentially just the whole of the electricity sector has another
ten billion dollars worth of investment over the next five
years alone, so that's a significant investment in the industry.
(09:55):
But that's absolutely needed.
Speaker 3 (09:57):
And we'll be paying for that through higher prices with electricity.
Speaker 9 (10:02):
So typically what happens is we taken it part of
our the money we're making an invested back into the sector.
So over the half of the money that we've made
in the last couple of years actually goes back into
new and existing power stations.
Speaker 3 (10:16):
Hey, appreciate your time this morning. Stuart Stuart Hamilton, Mercury
Energy chief Executive on Shane Jones' big geo thermal steam
up yesterday.
Speaker 8 (10:24):
He was quite excited by this.
Speaker 3 (10:26):
Interestingly, he because he got in big trouble the day before,
got the night before when he made his little tweaks
to the oil and gas band reversal, which has taken
them sweet amount of time. But yesterday there was all
the scientists under the sun. We're coming out loving Shane Jones.
(10:46):
What an exciting time, said Isabelle chamber Fought from Energy Futures.
She says, what an exciting time. The strategy lays the
groundwork for a national, forward looking and collective approach to
the next generation of geo thermally, they just lapping it
up Professor Barry Barton. He says this is a significant
move from the government. Interestingly, he also points out that
(11:10):
there are moldy stakes in geo thermal unresolved claims against
the Crown through the White Tangi Tribunal over geo thermal areas.
So what happens there and what does Shane think about
all of that. It's nineteen minutes after five. News Talk said,
BE News.
Speaker 2 (11:29):
And Views you trust to start your day.
Speaker 1 (11:31):
It's earlier Ediship with Ryan Bridge at Expol Insulation Keeping, Kiwi, Holmes,
Warn and Drey this winter.
Speaker 2 (11:38):
News Talk said BE.
Speaker 3 (11:39):
Twenty one minutes after five. They've had a Halliban morning
over in the UK.
Speaker 8 (11:43):
Well evening.
Speaker 3 (11:43):
I shit's over in the UK with flights diverted, flights
affected by air traffic control problems. So it looks like
they're getting it sorted and under control right now.
Speaker 8 (11:52):
Back home.
Speaker 3 (11:53):
The cost of flying to and from every airport in
this country is about to go up airways. These are
the guys who run air traffic control. They're upping their
fees seventeen point seven percent over the next three years.
Dwyane Eminy is the Air Chatham CEO with me this morning.
Speaker 8 (12:07):
Draane, good morning, very good morning, Brian. Good to have
you on the show. What does this mean for you?
Speaker 10 (12:13):
Ah, well, it's another cost, It's another structural cost that
we have no control over, that we have to you know,
somehow absorb or attempt to pass on. So yeah, it's
not a good thing.
Speaker 3 (12:23):
Is it enough to put you know, regional airlines out
of business? I mean, we're seeing a lot of stories
about regional airlines struggling at the moment. Is you know,
obviously this is not a great move, but is it
enough to tip some over the edge?
Speaker 8 (12:34):
Do you think?
Speaker 11 (12:36):
Yeah?
Speaker 10 (12:36):
I think, well you've already seen it, aren't you. I
mean we're down to there. You've got roots being cut,
you've got airplanes being sold. I can assure you that
all regional airlines, including ourselves, are looking at similar things.
So you know, it's it's not it's just not going
to work long term if we keep doing the same
old thing and hoping for a different result. I think, really,
(12:58):
you know, in our opinion, we've got to really get
back to the root cause of why we have the
issue that we have today and I look at it
and think, well, we seem to have a more expensive
system from a customer perspective, but we actually have a
worse service. So why is that? And it was interesting
I was coming on talking to you this morning. I
(13:20):
was having a look back at some of the reports
sort of November twenty fourteen and when Ayzia made their
decisions to cut one of their original carries at the time,
which was Eagerly Are. They had a fleet of about
eighteen small eighteen ceed aircraft that really connected a lot
of regional New Zealand and at the time it was
decision was made to cut that because it was costing
(13:43):
and just for luction and't words a million dollars a month,
so twelve million dollars a year, but that that airline
would be cut and then the investment would go into
larger tubo proper aircraft and ultimately everyone would get a
bit of service at lower cost. Well, you know we
are ten years later and that's absolutely not the net
result hasn't happened.
Speaker 3 (14:05):
What so what do we need to do to fix
this then? Because I mean airways, I mean, well it's
a bit of a it's a monopoly really isn't it.
I mean, they consult and then they just charge essentially
what they want, but presumably they have costs they need
to increase and cover as well.
Speaker 8 (14:20):
What's the solution.
Speaker 10 (14:23):
Yeah, well, I think you look at the airways example.
I mean, and again this is my opinion, they hid
behind their state owned enterprise band. What's the legislative requirement
to provide a profit back to their shareholder, which is
effective for a government, So you know the government had
some control over that cost. They could actually go to
the airways and say, hey, we needed a better here.
(14:44):
You know, we shouldn't really be making a profit while
these regional airlines and other airlines in general suffering. So
you know, what can we do about that? Because the
reality is there is no other provider that's going to
come in and compete against them because the infrastructure costs
require to do that are significant. So I think that's
an area that needs to be looked at. And then
(15:05):
again you've got to go back to the root course.
Like ten years ago, twenty years ago, we had a
much more vibrant aviation ecosystem in this country. You had
a lot more airlines, a lot more aircraft, so you
had a lot more people playing into the system and
chaining into the system as well. But of course, as
any zones made decisions to withdraw from these smaller regions,
(15:27):
you know, cut its fleet size, consolidate into larger tubo
proper aircraft and obviously into gen aircraft on some of
these regional routes, it ultimately means you've got less planes,
less frequency, in my opinion, or worse service, but you've
actually got less people playing in. So then these bloated
corporate organizations like your Ways and the CIA is some extents,
(15:49):
because they all run corporate structures, they will have high
pay salaries and then really high overheads. They have to
spread that across the users. And of course the only
way you can do that is put the prices up.
And that's what happening, That's what you're seeing. That's what's
airlines like US are trying to put into ticket prices.
The customers pushing back and saying, hey, this is too much.
I'm good joming the Karen drives.
Speaker 3 (16:11):
Yeah, it's literally unaffordable. Douane appreciate that really interesting stuff.
Duane Emini, who's Edge Adams chief executive time now is
twenty six after five quick update on Keep Bank and
Keep we Save.
Speaker 1 (16:22):
Next the early edition full show podcast on iHeartRadio, how
it By News talks at Me.
Speaker 3 (16:29):
A couple of predictions for you this morning, at twenty
eight minutes after five won. The National Party will campaign
on a partial float of.
Speaker 8 (16:36):
Kiwi Bank at the next election.
Speaker 3 (16:37):
I think it's looking and sounding more and more like
they will. The question is whether voters will care. I
don't think so. Asset sales are not the great electoral
disaster that they were once portrayed. As asked John Key,
who whipped Phil Goff's but in twenty eleven on a
platform of partially privatizing assets. It was a devastating loss
for Phil Goff and the Labor Party.
Speaker 8 (16:58):
Key, we saber.
Speaker 3 (17:00):
Another prediction for you this morning, we will pay and
our employers will pay I think twelve percent before long's
currently eight percent for a piece. That will increase too,
and the need for it to increase is just look
across the Tasman where they have four trillion dollars in
(17:20):
retirement funds, our QI saver balances collectively just over a billion.
It's David and Goliath, so we need to save more.
And if we're serious about the Kibank taking on the Aussies.
They need more cash too. Twenty nine after five Bridge
Bridge and we will get to.
Speaker 1 (17:38):
Brian Bridge on early edition with ex bowl insulation keeping
Kiwi homes warm and try this Winter News Talks a b.
Speaker 12 (17:50):
On me. Good morning.
Speaker 3 (18:02):
It is twenty four minutes away from the six News
Talk said be you'll love this story. This is about
the COP you know, the UN Climate conference that they
hold every year. This is COP thirty in November in
Brazil and they're having an emergency UN meeting about it.
So an emergency meeting about an emergency situation because the
price of the hotels is too expensive apparently for a
(18:25):
lot of the people who are wanting to attend. Do
you know how many people go to COP by the way,
the group that they call a meeting. When you've got
a problem with your hotels at your COP conference, you
convene a meeting, an emergency meeting of the UN's COP Bureau.
Speaker 8 (18:39):
This is an actual thing. So who you're going to call.
Speaker 3 (18:43):
You're going to call the COP Bureau and they are
forty five thousand people are going to attend COP thirty
in November in Brazil. Forty five that's almost the size
of Nelson traveling. Most of them, you'd say business class
traveling to Brazil to talk about the climate. You know,
(19:04):
we're serious. The problem is a lot of the poor
countries can't afford the hotel rooms. This is a city
of one point three million people where they're holding it,
and they're going to transplant forty five thousand people there
for the conference and eighteen thousand hotel beds. They're expanding
to eighteen thousand hotel beds. So desperate are they the
(19:25):
Brazilian government, they are now getting two cruise ships to
provide six thousand.
Speaker 8 (19:31):
Extra beds for delegates. Are on what planet?
Speaker 3 (19:35):
Now here's the kicker, and this is the cheap price
of a hotel room for COP thirty the cheap price
that they are subsidizing for third world countries. So we
won't get this price, but the cheap going rate for
a room at COP three hundred and seventy one New
Zealand dollars. Good luck, Well twenty two to six. Ryan
(19:58):
Michael sircles with US Denise News this morning. Michael, good morning,
Good morning. Boiled water notice could be shortened.
Speaker 13 (20:05):
Yes for two Central Otago communities ran Purley and Partieroa
currently under a precautionally boil water notice which is due
to go into the December. While water treatment plants are
being upgraded. Both towns water treatment processes lack a barrier
of proto zoa and that could cause illnesses. The district
councils agreed now to borrow a containerized UV unit from
(20:28):
the Selwyn District Council to serve as a temporary barrier.
So that means that everything could be operational by September,
allowing the council to lift the notus three to four
months earlier than previously expected.
Speaker 8 (20:39):
All right, that's good news, Michael. How's the weather partly? Cloudly?
Speaker 13 (20:42):
The chants of showers eight the high today brilliant.
Speaker 3 (20:44):
Thank you Claires and christ Chuts this morning, clear, good morning,
good morning. You've got some international recognition for Christchurch City Council.
Speaker 14 (20:52):
It's right well, indeed, specifically for the council's fire detection
and monitoring initiatives. So we have fifteen cents as of
cross the city.
Speaker 11 (21:00):
Here.
Speaker 14 (21:01):
They gather information on things like air pollution, smoke, wind
speed and even wind direction, along with some visual and
thermal imaging. It helps to detect the early signs of
any fire in christ Church. Now, this is a project
which uses smart technology. It's now won the International Innovation
of the Year award. That's at the Society for Innovation,
(21:21):
Technology and Modernization Awards held in the UK. Earlier this
year we had four more of the senses added to
the Port Hills near Summit Road, of course, the area
where those massive Porthills fires were in twenty seventeen.
Speaker 15 (21:35):
And just last year. How's your were the Claire rainy today?
Speaker 14 (21:39):
It will clear to mostly find some southerly strong about
Banks Peninsula and a high of ten.
Speaker 3 (21:43):
All right, thank you, max Is and Wellington, Max good morning,
good morning. Have we had any confirmation on the FBI
director and his potential visit to Wellington?
Speaker 16 (21:53):
Well we have, yes, this is a excuse me, Cash Patel,
Donald Trump's appointed. Yeah, the current direct through the FBI,
very big cheese in global security. Spotted by an eagle
eyed member of our newsroom in Parliament alongside other US
officials yesterday. What he's been doing in New Zealand, we
don't know. It can assume he most likely met with
(22:13):
Winston Peters, but no word from him, no word from
Judith Collins either no confirmation by the US embassy. But
before you start suspecting a possible case of mistaken identity,
Nicola Willis did confirm to Newstalk z EDB it was
in fact Cash Patel at Parliament yesterday. Then she suggested
perhaps she shouldn't have confirmed it, but flight records then
(22:34):
did show Patel traveling from Hawaii to Sydney to Wellington.
The US Embassy would only say this that we have
many official visits to New Zealand and comment on those
at the appropriate time when they're in a position to
do so. So a lot of coyness around this visit
a visit, but it was confirmed Cash.
Speaker 8 (22:51):
Pateel Here we go, Nicola, let the cat out of
the bag.
Speaker 3 (22:54):
It's not hugely professional, isn't it, you know when they're
trying to be secret about this stuff? And didn't she
say something about how hot the bodyguards were.
Speaker 16 (23:02):
She did say that a lot of attractive men in
suits were walking around Parliament yesterday. Yes, great day for Nikola.
How's the weather showers early clearing later? Southerly's ten the
hey Central, nice.
Speaker 3 (23:13):
Thank you Nevasva, good morning delays. This is about the
Western Springs decision, making another delay.
Speaker 7 (23:20):
Another delay. You're quite right, so yeah, bit of disappointment
to you. So the Auckland Council was set to discuss
the issue at today's governing body meeting. Now that is
going to come up after October's local elections. So as
we know, you know, this was after uplan and FC
back proposal with Drew citing the extended timelines and all
these complexities around it. So Councilor Shane Henderson has come out.
(23:41):
He said, look, the last council meeting when the issue
was discussed, it got quite heated. So it's a tough decision,
he said. You know, it's a shame that it's been
dragged out, but that's what it is. So that's a
new angle. It will be discussed after the election.
Speaker 8 (23:55):
Oh god. So we have to keep hearing about Western Springs.
Speaker 3 (23:59):
That's right, bomb under it. I'm second hearing about it.
It was sit there in the same state it is now.
Speaker 7 (24:05):
I totally agree with you.
Speaker 3 (24:06):
In another ten years yep, all right, Neva House, the weather
and all place you think.
Speaker 7 (24:10):
About hearing this, expect strong and unusual currents and unpredictable
soogas as opposed to urgas. At the shore. The warning
hasn't been withdrawn people. And you know what the funny
thing is is when you're told don't go down to
the beach, they all bloody flop down there.
Speaker 3 (24:25):
There was a guy yesterday the Hawaiian news coverage, I
think it was NBC and there was a guy on
a paddle board and they were saying we're just waiting
for the tsunami to come in, and.
Speaker 8 (24:35):
The other do it on a paddle board.
Speaker 3 (24:38):
Don't do that, don't do that, please don't it's that
seventeen to six.
Speaker 8 (24:42):
Thanks Neva, you're on news Talk sa'd.
Speaker 3 (24:43):
B will get to Mitch McCann's Stateside next for the
latest on the White House action against India on trade, Yes,
India in Trump sites this morning. And then kir We
Bank this partial potential for a partial float on the
Stock exchange and the five h hundred billion dollars that
they are hopefully going to pick up after an announcement
(25:05):
from Nicola Willis yesterday.
Speaker 8 (25:06):
It's all ahead before.
Speaker 1 (25:07):
Six international correspondents with ends and eye insurance, peace of
mind for New Zealand business.
Speaker 3 (25:14):
We'll check kvy Bank in a second just gone fourteen
away from six now and Mitch McCann is our US correspondent.
Speaker 8 (25:20):
Mitch, good morning, Good.
Speaker 15 (25:21):
Morning, Ryan, how are you very well?
Speaker 8 (25:23):
Thank you tell us about this.
Speaker 3 (25:24):
We're a day away from the trade deadline and Trump's
in to trade deadline and we've got a bit of
a hit out on India.
Speaker 15 (25:32):
Yeah, that's right. Donald Trump wanted to sign I think
it was ninety deals in ninety days, Ryan. Unfortunately for
the president, I think he's managed five. And on the
first of August, these reciprocal tariffs are going to come
into place. These are new tariff rates pretty high for
most of America's partners. But instead of signing a deal
with India, he's decided he's going to slap a twenty
(25:53):
five percent tariff on in there. He said, India is
our friend, but we've done little business with him over
the last few years because their tariff are too high,
which really indicates he's not happy with the way trade
negotiations have been going. And another important aspect of this
is that Donald Trump says India has been buying too
much military equipment and energy from Russia, and he's threatening
(26:14):
a second tariff concerning that matter in the coming days.
So Donald Trump says all things not good in capital letters,
and he's implementing a twenty five percent tariff on India.
Speaker 3 (26:25):
And you've been watching our government calling for a two
state solution to Gaza.
Speaker 8 (26:30):
This is at a UN conference.
Speaker 15 (26:32):
Yeah, that's right, a high level conference this week, Very
timely given what we're seeing in Gaza at the moment.
France and Saudi Arabia holding this conference where a number
of members of the international community have had a chance
to talk about how they want to advance the two
state solution. Now, this morning we heard from Nicole Robertson
from in Fatchie's, New Zealand's head of delegation. Here's what
(26:52):
she said about New Zealand and the two state solution
and Israel's actions.
Speaker 17 (26:57):
Israel's actions, including its withholders and politicization of humanitarian assistance,
are unacceptable. Failure to do this not only undermines human rights,
but also the long term prospects for security and stability
and the international rules on which we all rely.
Speaker 15 (27:17):
Then, Nicole Robertson there Ryan said it remains for us,
as in New Zealand, a matter of when, not if
Palestinian statehood is realized. Of course, Christopher Luxen says that
is something that is possible in the future, but he
wants pressure on Israel to get humanitarian aid into Gaza
as the priority at the moment.
Speaker 3 (27:34):
Mitch, appreciate it. Thank you, Mitch McCann our, US correspondent.
It is twelve to six Bryan Bridge. Good news for
banking competition, Well, hopefully good news for banking competition. The
government giving the green light for a capital injection from
the private sector. Cabinet approving raising half a billion, five
hundred million dollars through QB saver funds and investment groups
with the hope of finally making the bank competitive with
(27:58):
the big four of the Aussies. Is Associate professor at
Massi University Business School, a banking expert.
Speaker 8 (28:03):
Clear, Good morning, Marina Iron.
Speaker 3 (28:06):
Is this going to shift the dial in terms of
its competitiveness, how argibargie it can be in market?
Speaker 11 (28:14):
Well, it's sitting in and make a difference. We're talking
about increasing its capital by around seventeen percent, but in
reality it's still going to be substantially smaller than the
big four Australian banks. It's obviously going to be able
to do more lending and if it can do a
substantial amount more lending. Then it can be challenging in
terms of what it offers, but it's not going to
(28:38):
take it anywhere near the size of the Big Four.
So the extent of which to which it will actually
impact on competition is questionable.
Speaker 8 (28:45):
How do you get it there?
Speaker 3 (28:46):
Do you need to put it on the stock market,
as Nicola Willis is sort of indicated, is potentially an option.
Speaker 11 (28:54):
We're still talking a huge amount of increase in capital
that would be required in order to get it to
anywhere like the size of the Big Four, enabling it
to grow and enabling it to do more lending, whether
it's through this capital injection or additional capital through an IPO,
that's all going to help. But as usual, we're overstating
(29:16):
the competition issue in the market in my view, because
we do have a competitive market. qEV Bank is making
a difference as it is. Yes, it will make a
bit more of a difference if it's able to do more,
But whether we're going to see a huge change in
terms of what's happening in the banking market, I just
(29:37):
don't see that it's going to happen.
Speaker 3 (29:39):
Is that because it's started a capital or because We're
just a small country.
Speaker 11 (29:47):
It's probably not either of those things. It is certainly
a challenge for keev Bank in terms of its capital
situation because in order to do leaning it needs capital
and it can only generate so much from its normal operation.
So getting more capital as a capital injection helps. We
are a small country, but that's not actually affecting a
competition issue. We have a good number of banks, they
(30:10):
are competing. We seem to perceive that just because they're
making lots of money that that's not competitive. That's not
necessarily the case in my view, and the challenge is
that Kiwibank is just a small bank and at least
you've got something a similar size to the big four,
You're not really going to have a competitive difference with
(30:32):
my view.
Speaker 8 (30:32):
Interesting, Clear appreciate that.
Speaker 3 (30:34):
Clear Mathews as I said, professor at mass University Business School,
saying we don't have an issue with competition in our
bank in sector. Despite what Nikola Willis keeps binging on
about nine minutes away from six News talks, they'd been
right next.
Speaker 1 (30:47):
The news you need this morning and the in depth
analysis earlier thisu with Ryan Bridge and ex Bowl Insulation
keeping Kiwi Holmes warm and dry this winter news talks,
that'd be.
Speaker 3 (30:58):
Six minutes away from six. We all survive the tsunami, congratulations,
But when will we die?
Speaker 8 (31:04):
That is the question.
Speaker 3 (31:05):
Yesterday we had some numbers out on life, the longevity
of life, and the average male life expectancy at birth
rose to eighty point one years for twenty twenty four.
That is the highest ever. For females it's about three
years longer, so they do live longer than us. But
if you're thirty five years old, your expected your life
expectancy on average would be eighty one point four years.
(31:27):
If you're forty five years old you made it that far,
then it would be eighty one point nine years. For
fifty five year old it would be eighty two point
nine years. And for sixty five year olds. If you're
sixty five right now, you will probably on average reach
eighty four point four years. If you make it to
eighty years a male, you can expect to live to
at least eighty eight point six years. For females that
(31:51):
is very close to ninety five to six. Cram Bridge
and I've thought i'd read that because Mike's here and
I know how much how long you want to live for.
Speaker 18 (32:00):
It's the quality, you mate, It's not about the length,
it's the quality. Surely you've been told that before.
Speaker 3 (32:04):
Well, yes, but I just think at some point the
two things. It's like the graph gets a bit skilled
with where you get so old?
Speaker 18 (32:15):
Is it quality anything? There's something there isn't there? But
you look at people like, there's no question that sixties
the new forty seventy is the new fifty.
Speaker 8 (32:24):
But you get hang on, hang on, you're jumping.
Speaker 18 (32:26):
No, you get past eighty here, you get past eighty
though you don't see many really well eighty high eighties,
do you, And once you get to ninety it becomes
really rare. Something happens in the eighties to nineties that
you're sort.
Speaker 8 (32:37):
Of the body gets the body.
Speaker 18 (32:38):
Yeah, it's yeah, I don't know. And so at that
point you're talking about medical and medical intervention. But I
reckon this generation of people because I read a lot
about this and the generation of people. If you get
in early, the stuff they know now about genes and
turning genes on and off and stuff is incredible. And
so if you get in early and you conduct your
life in a way that you know aims at longevity.
Speaker 8 (32:57):
You'll you'll be away on.
Speaker 3 (32:58):
Every fine, But then you've got such an expensive retirement.
I mean, if you retire at sixty five, if you
may need, didn't come until you're ninety.
Speaker 18 (33:04):
See, that's the other part of it. No one's retiring
in sixty five. No one's retired sixty five, And that's
that's a big change. In fact, I know a guy
who his father is ninety something now and he says
his biggest regret said to his son, his biggest regrets
to son sixty three. He said to his son, his
biggest regret was retiring at sixty five, because he's been
retired for thirty something years now and he's bought out
(33:25):
of his brain.
Speaker 8 (33:26):
But he's still here exactly.
Speaker 18 (33:28):
And soon we want to work longer. You and I
be here for another thirty forty years, right, yeah.
Speaker 3 (33:32):
Yeah or not.
Speaker 8 (33:35):
I don't know about that.
Speaker 11 (33:37):
Now.
Speaker 8 (33:37):
What have you got on the show today?
Speaker 18 (33:38):
Courts they're changing the rules. They've done a trial pilot
worked well apparently judge only, so they're going to roll
it out right around the country. Yeah, you can't get
a jury for love nor money, as far as I
can work out, you know, Jeremy Pitten.
Speaker 8 (33:48):
Yeah, he's in Oh lovely, he's here today. Yeah, big
day on the Mike hosting Breakfast. See to him over.
Speaker 12 (33:55):
Runs Rules to the Gown.
Speaker 1 (34:07):
For more from Early Edition with Ryan Bridge, listen live
to News Talks it Be from five am weekdays, or
follow the podcast on iHeartRadio
The issues, the interviews and the insight. Ryan Bridge on
an early edition with ex pole insulation keeping Kiwi Holmes
warm and.
Speaker 2 (00:09):
Tray this winter news talks. That'd be good morning.
Speaker 3 (00:12):
It is six after five Thursday to thirty, first of July.
Great to have your company this morning. Kiwibank's capital rays
we look at this before six o'clock and the potential
partial float of Kiwibank as well. You know, would Keywis
really care if foreigners partly owned our bank? Well, look
at that Chatham's Air The CEOs on the show. Regional
airlines are feeling the heat. The air traffic control costs
(00:36):
are going up by more than seventeen percent over the
next three years. So can they hold on? Mitch McCann
and the US for US. Oh, and congratulations, we've all
survived the great Tsunamani alert of twenty twenty five.
Speaker 2 (00:49):
The agenda.
Speaker 3 (00:54):
Yes, those alerts across the Pacific made more waves in
the headlines than they did in the water WAYI and
Japan have now downgraded their loots.
Speaker 4 (01:04):
The potential for strong currents or dangerous waves are expected
are occurring. For those in or near the water. There
may be flooding of beach or harbor areas. Those who
have evacuated new safety return home. Based on Kaunty assessments
and directors.
Speaker 3 (01:19):
The California coast and some small pots in North America
the only ones left with warnings for now.
Speaker 5 (01:25):
We are pretty lucky and in the United States West
Coast we are looking at mostly less than one meter
of water, which again means damages to coastlines and harbors,
but luckily not much inundation on land. The only part
that we still have in a warning, which is potentially
over one meter of water, where we do start worrying
(01:46):
about water flooding onto land is a small portion of
northern California.
Speaker 3 (01:52):
Trump tariff watched this morning. He's threatening India, this time
threatening twenty five percent tariff on impulse. They haven't made
the well the deadlines to morrow, but not looking like
they're going to meet it, So he's putting the pressure
on and he's promising some sort of penalty for India
buying Russian energy and weapons.
Speaker 6 (02:08):
It's not the end of the road. It seems more
like a bump. It seems that India from its side,
is hoping that they'll be able to convince US negotiators
the farewell.
Speaker 3 (02:19):
For Ozzie Osborne and Birmingham in the UK taking place overnight.
The Osborne family were in tears taking a moment to
read tributes and laid flowers.
Speaker 7 (02:27):
It's a bit of a somber atmosphere now, but as
you can hear, the chance of Ozzie's name are still
ringing out everywhere.
Speaker 8 (02:34):
But this is what Ozzie would have.
Speaker 7 (02:35):
Wanted, a celebration of his life rather than a morning
of his dad.
Speaker 1 (02:41):
The first word on the News of the Day early
edition with Ryan Bridge and ex Fole Insulation keeping Kighi
Holmes warm and dry.
Speaker 2 (02:49):
This winter news talk, sa'd be.
Speaker 8 (02:51):
So everybody's safe from the tsunami. That's good.
Speaker 3 (02:53):
They do say still to stay out of the water,
I mean, don't go boating this morning. Probably not the
smartest idea, but it was watching a lot of the
coverage yesterday out of Hawaii in particular, and you have
the news casters who were sitting there with a live
shot and the sun's fading, and I know what they're thinking.
They're thinking, Oh, the sun's going down and we won't
(03:14):
be able to show people when the actual tsunami comes,
which is the pictures that we want. However, never really
came did it. There was a bit of you know,
snarl up in the ocean, there was some sea going out,
but then it came back in and nothing really happened,
which is good, which is great because no one was hurt.
Speaker 8 (03:31):
But how do you have you.
Speaker 3 (03:33):
Know, they said it's the top ten in the top
ten recorded history biggest earthquake, it's a megaquake, one of
the strongest ever recorded, eight point eight magnitude, And of
course we had evacuations around the Ring of fire. But
how do you get at an earthquake so big and
then have so little damage? That's my question, not conspiracy
(03:56):
theorizing here, but it would just you know, how does
that have and how do you have such widespread tsunami
alerts with so little tsunami. It's not an exact science, obviously,
so I'm sure that that's part of the problem that
they have. But you know, they kept showing the same
house with the same facade crumbling. We saw that same
(04:18):
picture yesterday over and over and over again. And there
was another one of a house shaking with some tiles
coming off the roof, but that was about it. You know,
how do you get in the top ten biggest earthquakes
mega earthquakes in the history of a recorded history of
the world.
Speaker 8 (04:33):
And if two tiles fall off a guy's roof.
Speaker 3 (04:35):
In Russia, you know, someone who's smarter than me will
be able to answer that question. In terms of the tsunami,
the reason that they put the alerts out is because
they it's not an exact science and they just don't know.
And what's more, I was listening to a guy yesterday
who was a scientist, who was saying.
Speaker 8 (04:52):
Well, you know what would you rather.
Speaker 3 (04:53):
Would you rather have some alerts go out and potentially
save your life or would you rather a box day tsunami,
which you know two thousand and four we all remember
that there were no alerts then and how many two
hundred and thirty thousand people died, And I'm sure they
would have loved an alert. So yes, they're annoying. And
(05:14):
on top of all the weather ones we get. You know,
how many times is NIMA going to make my fine
vibrate this year?
Speaker 8 (05:22):
That's my question? Nine two ninety two is the number text.
Speaker 3 (05:26):
It's just gone eleven minutes after five here on news Talk,
sa'd be We're going to look at a couple of
things finance wise this morning. One is ki We Savor
and the other is kei We Bank Kiwi Bank potentially
getting a partial float.
Speaker 8 (05:39):
We'll look at that a little later on.
Speaker 3 (05:40):
And I've also got some numbers for you this morning,
a zero small Business Insights. This is the interesting one
from June. I'll give you those numbers next on.
Speaker 1 (05:50):
Your radio and online on iheard radio early edition with
Ryan Bridge and x Fole Insulation keeping Kiwi homes warm
and dry this winter, TALKSB News, Talks HEB.
Speaker 3 (06:02):
It's just gone fourteen after five. Here's yeah, zero small
Business Insights. This is for the June quarter. It's looking
at sales for our small businesses and it's not a
great story. So the June quarter was down zero point
one percent year on year. That's a drop from a
positive one point one percent year on year for the
March quarter. So we are going backwards, well behind the
(06:26):
long term national average two of six point three percent
year on year, and much behind Australia for quarter two
of twenty twenty five three percent for the Aussies and
we were minus zero point one. One good piece of
news to come out of this. It was released at
five o'clock this morning was an increase. This is for
the month of June, four point four percent year on
(06:48):
year for the month of June. So it looked to
be picking up towards tail end of the quarter, which
is obviously a good thing. And all your usual stories agriculture, good,
South Island good everything else bit lame.
Speaker 8 (07:00):
Quarter past five, Bryant Bridge.
Speaker 3 (07:02):
More energy is on the way and it's coming from
below our feet Energy mister Shane Jones announcing yesterday plan
to double our production of geothermal energy by twenty forty.
He says we have the potential to be a world
leader in the geothermal sector. Stuart Hamilton is Mercury Energy
CEO with me this morning.
Speaker 8 (07:20):
Hey Stuart, good morning, How are you good? Thank you?
What did you make of this?
Speaker 3 (07:24):
I mean it's a first of all, it's a draft plan,
but is there enough meat on the bones for you?
Speaker 9 (07:31):
Yeah, it's a good start, we think. Looking Zilland's already
a global leader in gfrmal energy production and we've produced
about twenty percent of our achristy from gffrmal compared to
a place like the US where it's less than one
so we've definitely got huge potential to not only just
use this to decarbonize as young, but actually potentially grow
our economy and various advanced technologies like supercritical.
Speaker 3 (07:53):
Why do we need the government to be stumping up
money for drilling new wells?
Speaker 9 (07:57):
So welling is a Drilling wells is a huge upfront
cost and large risk in geofrmal development. So we drill
wells are about three klimeters deep and each well cost
is about fifteen to twenty million dollars. So despite extensive investigation,
sometimes you can miss that hot liquid under our feet.
And when each geoffrmal field needs about ten to twenty wells,
(08:19):
it's a pretty large upfront cost and risk.
Speaker 3 (08:22):
How do you know where the hot liquid is? Well,
obviously it's not an exact science exactly.
Speaker 9 (08:27):
That you can do quite a lot of investigation from
the surface to get an understanding of what where the
liquid might be and when the heat might be, but
it's not until you actually start drilling that you get
a feel for whether you've got both the heat, but
you actually need to have the hot liquid as well,
so you need both of those in combination.
Speaker 3 (08:43):
When are we going to start drilling or are we
already you know, more than five k's for the real
potent stuff.
Speaker 9 (08:50):
Yeah, so the supercritical is something which we're working on
at the moment. There's probably going to be it's sort
of in development over the next couple of years, but
that in the meantime, we're actually doing quite a lot
of work with conventional GF thermal, so mercury. For example,
we're currently doing a three hundred million dollar expansion of
one of our sites and that will come on stream
(09:11):
early next year and produced enough power for the whole
of the city of Wellington, for example. So we're pushing
pretty hard with just the conventional geoffrmal in conjunction with
the supercritical.
Speaker 3 (09:21):
If we were to double what the Minister says we
should be doing, doubling the production of geothermal energy by
twenty forty how many holes.
Speaker 8 (09:30):
Do we need to drill? You know, how much is
this going to cost?
Speaker 9 (09:33):
Yeah, it's pretty significant, So doubling our energy, and even mercury,
we've got our own sort of goals to actually double
our size by twenty thirty five. So there's a fair
bit of investment and we're talking billions of dollars and
potentially just the whole of the electricity sector has another
ten billion dollars worth of investment over the next five
years alone, so that's a significant investment in the industry.
(09:55):
But that's absolutely needed.
Speaker 3 (09:57):
And we'll be paying for that through higher prices with electricity.
Speaker 9 (10:02):
So typically what happens is we taken it part of
our the money we're making an invested back into the sector.
So over the half of the money that we've made
in the last couple of years actually goes back into
new and existing power stations.
Speaker 3 (10:16):
Hey, appreciate your time this morning. Stuart Stuart Hamilton, Mercury
Energy chief Executive on Shane Jones' big geo thermal steam
up yesterday.
Speaker 8 (10:24):
He was quite excited by this.
Speaker 3 (10:26):
Interestingly, he because he got in big trouble the day before,
got the night before when he made his little tweaks
to the oil and gas band reversal, which has taken
them sweet amount of time. But yesterday there was all
the scientists under the sun. We're coming out loving Shane Jones.
(10:46):
What an exciting time, said Isabelle chamber Fought from Energy Futures.
She says, what an exciting time. The strategy lays the
groundwork for a national, forward looking and collective approach to
the next generation of geo thermally, they just lapping it
up Professor Barry Barton. He says this is a significant
move from the government. Interestingly, he also points out that
(11:10):
there are moldy stakes in geo thermal unresolved claims against
the Crown through the White Tangi Tribunal over geo thermal areas.
So what happens there and what does Shane think about
all of that. It's nineteen minutes after five. News Talk said,
BE News.
Speaker 2 (11:29):
And Views you trust to start your day.
Speaker 1 (11:31):
It's earlier Ediship with Ryan Bridge at Expol Insulation Keeping, Kiwi, Holmes,
Warn and Drey this winter.
Speaker 2 (11:38):
News Talk said BE.
Speaker 3 (11:39):
Twenty one minutes after five. They've had a Halliban morning
over in the UK.
Speaker 8 (11:43):
Well evening.
Speaker 3 (11:43):
I shit's over in the UK with flights diverted, flights
affected by air traffic control problems. So it looks like
they're getting it sorted and under control right now.
Speaker 8 (11:52):
Back home.
Speaker 3 (11:53):
The cost of flying to and from every airport in
this country is about to go up airways. These are
the guys who run air traffic control. They're upping their
fees seventeen point seven percent over the next three years.
Dwyane Eminy is the Air Chatham CEO with me this morning.
Speaker 8 (12:07):
Draane, good morning, very good morning, Brian. Good to have
you on the show. What does this mean for you?
Speaker 10 (12:13):
Ah, well, it's another cost, It's another structural cost that
we have no control over, that we have to you know,
somehow absorb or attempt to pass on. So yeah, it's
not a good thing.
Speaker 3 (12:23):
Is it enough to put you know, regional airlines out
of business? I mean, we're seeing a lot of stories
about regional airlines struggling at the moment. Is you know,
obviously this is not a great move, but is it
enough to tip some over the edge?
Speaker 8 (12:34):
Do you think?
Speaker 11 (12:36):
Yeah?
Speaker 10 (12:36):
I think, well you've already seen it, aren't you. I
mean we're down to there. You've got roots being cut,
you've got airplanes being sold. I can assure you that
all regional airlines, including ourselves, are looking at similar things.
So you know, it's it's not it's just not going
to work long term if we keep doing the same
old thing and hoping for a different result. I think, really,
(12:58):
you know, in our opinion, we've got to really get
back to the root cause of why we have the
issue that we have today and I look at it
and think, well, we seem to have a more expensive
system from a customer perspective, but we actually have a
worse service. So why is that? And it was interesting
I was coming on talking to you this morning. I
(13:20):
was having a look back at some of the reports
sort of November twenty fourteen and when Ayzia made their
decisions to cut one of their original carries at the time,
which was Eagerly Are. They had a fleet of about
eighteen small eighteen ceed aircraft that really connected a lot
of regional New Zealand and at the time it was
decision was made to cut that because it was costing
(13:43):
and just for luction and't words a million dollars a month,
so twelve million dollars a year, but that that airline
would be cut and then the investment would go into
larger tubo proper aircraft and ultimately everyone would get a
bit of service at lower cost. Well, you know we
are ten years later and that's absolutely not the net
result hasn't happened.
Speaker 3 (14:05):
What so what do we need to do to fix
this then? Because I mean airways, I mean, well it's
a bit of a it's a monopoly really isn't it.
I mean, they consult and then they just charge essentially
what they want, but presumably they have costs they need
to increase and cover as well.
Speaker 8 (14:20):
What's the solution.
Speaker 10 (14:23):
Yeah, well, I think you look at the airways example.
I mean, and again this is my opinion, they hid
behind their state owned enterprise band. What's the legislative requirement
to provide a profit back to their shareholder, which is
effective for a government, So you know the government had
some control over that cost. They could actually go to
the airways and say, hey, we needed a better here.
(14:44):
You know, we shouldn't really be making a profit while
these regional airlines and other airlines in general suffering. So
you know, what can we do about that? Because the
reality is there is no other provider that's going to
come in and compete against them because the infrastructure costs
require to do that are significant. So I think that's
an area that needs to be looked at. And then
(15:05):
again you've got to go back to the root course.
Like ten years ago, twenty years ago, we had a
much more vibrant aviation ecosystem in this country. You had
a lot more airlines, a lot more aircraft, so you
had a lot more people playing into the system and
chaining into the system as well. But of course, as
any zones made decisions to withdraw from these smaller regions,
(15:27):
you know, cut its fleet size, consolidate into larger tubo
proper aircraft and obviously into gen aircraft on some of
these regional routes, it ultimately means you've got less planes,
less frequency, in my opinion, or worse service, but you've
actually got less people playing in. So then these bloated
corporate organizations like your Ways and the CIA is some extents,
(15:49):
because they all run corporate structures, they will have high
pay salaries and then really high overheads. They have to
spread that across the users. And of course the only
way you can do that is put the prices up.
And that's what happening, That's what you're seeing. That's what's
airlines like US are trying to put into ticket prices.
The customers pushing back and saying, hey, this is too much.
I'm good joming the Karen drives.
Speaker 3 (16:11):
Yeah, it's literally unaffordable. Douane appreciate that really interesting stuff.
Duane Emini, who's Edge Adams chief executive time now is
twenty six after five quick update on Keep Bank and
Keep we Save.
Speaker 1 (16:22):
Next the early edition full show podcast on iHeartRadio, how
it By News talks at Me.
Speaker 3 (16:29):
A couple of predictions for you this morning, at twenty
eight minutes after five won. The National Party will campaign
on a partial float of.
Speaker 8 (16:36):
Kiwi Bank at the next election.
Speaker 3 (16:37):
I think it's looking and sounding more and more like
they will. The question is whether voters will care. I
don't think so. Asset sales are not the great electoral
disaster that they were once portrayed. As asked John Key,
who whipped Phil Goff's but in twenty eleven on a
platform of partially privatizing assets. It was a devastating loss
for Phil Goff and the Labor Party.
Speaker 8 (16:58):
Key, we saber.
Speaker 3 (17:00):
Another prediction for you this morning, we will pay and
our employers will pay I think twelve percent before long's
currently eight percent for a piece. That will increase too,
and the need for it to increase is just look
across the Tasman where they have four trillion dollars in
(17:20):
retirement funds, our QI saver balances collectively just over a billion.
It's David and Goliath, so we need to save more.
And if we're serious about the Kibank taking on the Aussies.
They need more cash too. Twenty nine after five Bridge
Bridge and we will get to.
Speaker 1 (17:38):
Brian Bridge on early edition with ex bowl insulation keeping
Kiwi homes warm and try this Winter News Talks a b.
Speaker 12 (17:50):
On me. Good morning.
Speaker 3 (18:02):
It is twenty four minutes away from the six News
Talk said be you'll love this story. This is about
the COP you know, the UN Climate conference that they
hold every year. This is COP thirty in November in
Brazil and they're having an emergency UN meeting about it.
So an emergency meeting about an emergency situation because the
price of the hotels is too expensive apparently for a
(18:25):
lot of the people who are wanting to attend. Do
you know how many people go to COP by the way,
the group that they call a meeting. When you've got
a problem with your hotels at your COP conference, you
convene a meeting, an emergency meeting of the UN's COP Bureau.
Speaker 8 (18:39):
This is an actual thing. So who you're going to call.
Speaker 3 (18:43):
You're going to call the COP Bureau and they are
forty five thousand people are going to attend COP thirty
in November in Brazil. Forty five that's almost the size
of Nelson traveling. Most of them, you'd say business class
traveling to Brazil to talk about the climate. You know,
(19:04):
we're serious. The problem is a lot of the poor
countries can't afford the hotel rooms. This is a city
of one point three million people where they're holding it,
and they're going to transplant forty five thousand people there
for the conference and eighteen thousand hotel beds. They're expanding
to eighteen thousand hotel beds. So desperate are they the
(19:25):
Brazilian government, they are now getting two cruise ships to
provide six thousand.
Speaker 8 (19:31):
Extra beds for delegates. Are on what planet?
Speaker 3 (19:35):
Now here's the kicker, and this is the cheap price
of a hotel room for COP thirty the cheap price
that they are subsidizing for third world countries. So we
won't get this price, but the cheap going rate for
a room at COP three hundred and seventy one New
Zealand dollars. Good luck, Well twenty two to six. Ryan
(19:58):
Michael sircles with US Denise News this morning. Michael, good morning,
Good morning. Boiled water notice could be shortened.
Speaker 13 (20:05):
Yes for two Central Otago communities ran Purley and Partieroa
currently under a precautionally boil water notice which is due
to go into the December. While water treatment plants are
being upgraded. Both towns water treatment processes lack a barrier
of proto zoa and that could cause illnesses. The district
councils agreed now to borrow a containerized UV unit from
(20:28):
the Selwyn District Council to serve as a temporary barrier.
So that means that everything could be operational by September,
allowing the council to lift the notus three to four
months earlier than previously expected.
Speaker 8 (20:39):
All right, that's good news, Michael. How's the weather partly? Cloudly?
Speaker 13 (20:42):
The chants of showers eight the high today brilliant.
Speaker 3 (20:44):
Thank you Claires and christ Chuts this morning, clear, good morning,
good morning. You've got some international recognition for Christchurch City Council.
Speaker 14 (20:52):
It's right well, indeed, specifically for the council's fire detection
and monitoring initiatives. So we have fifteen cents as of
cross the city.
Speaker 11 (21:00):
Here.
Speaker 14 (21:01):
They gather information on things like air pollution, smoke, wind
speed and even wind direction, along with some visual and
thermal imaging. It helps to detect the early signs of
any fire in christ Church. Now, this is a project
which uses smart technology. It's now won the International Innovation
of the Year award. That's at the Society for Innovation,
(21:21):
Technology and Modernization Awards held in the UK. Earlier this
year we had four more of the senses added to
the Port Hills near Summit Road, of course, the area
where those massive Porthills fires were in twenty seventeen.
Speaker 15 (21:35):
And just last year. How's your were the Claire rainy today?
Speaker 14 (21:39):
It will clear to mostly find some southerly strong about
Banks Peninsula and a high of ten.
Speaker 3 (21:43):
All right, thank you, max Is and Wellington, Max good morning,
good morning. Have we had any confirmation on the FBI
director and his potential visit to Wellington?
Speaker 16 (21:53):
Well we have, yes, this is a excuse me, Cash Patel,
Donald Trump's appointed. Yeah, the current direct through the FBI,
very big cheese in global security. Spotted by an eagle
eyed member of our newsroom in Parliament alongside other US
officials yesterday. What he's been doing in New Zealand, we
don't know. It can assume he most likely met with
(22:13):
Winston Peters, but no word from him, no word from
Judith Collins either no confirmation by the US embassy. But
before you start suspecting a possible case of mistaken identity,
Nicola Willis did confirm to Newstalk z EDB it was
in fact Cash Patel at Parliament yesterday. Then she suggested
perhaps she shouldn't have confirmed it, but flight records then
(22:34):
did show Patel traveling from Hawaii to Sydney to Wellington.
The US Embassy would only say this that we have
many official visits to New Zealand and comment on those
at the appropriate time when they're in a position to
do so. So a lot of coyness around this visit
a visit, but it was confirmed Cash.
Speaker 8 (22:51):
Pateel Here we go, Nicola, let the cat out of
the bag.
Speaker 3 (22:54):
It's not hugely professional, isn't it, you know when they're
trying to be secret about this stuff? And didn't she
say something about how hot the bodyguards were.
Speaker 16 (23:02):
She did say that a lot of attractive men in
suits were walking around Parliament yesterday. Yes, great day for Nikola.
How's the weather showers early clearing later? Southerly's ten the
hey Central, nice.
Speaker 3 (23:13):
Thank you Nevasva, good morning delays. This is about the
Western Springs decision, making another delay.
Speaker 7 (23:20):
Another delay. You're quite right, so yeah, bit of disappointment
to you. So the Auckland Council was set to discuss
the issue at today's governing body meeting. Now that is
going to come up after October's local elections. So as
we know, you know, this was after uplan and FC
back proposal with Drew citing the extended timelines and all
these complexities around it. So Councilor Shane Henderson has come out.
(23:41):
He said, look, the last council meeting when the issue
was discussed, it got quite heated. So it's a tough decision,
he said. You know, it's a shame that it's been
dragged out, but that's what it is. So that's a
new angle. It will be discussed after the election.
Speaker 8 (23:55):
Oh god. So we have to keep hearing about Western Springs.
Speaker 3 (23:59):
That's right, bomb under it. I'm second hearing about it.
It was sit there in the same state it is now.
Speaker 7 (24:05):
I totally agree with you.
Speaker 3 (24:06):
In another ten years yep, all right, Neva House, the weather
and all place you think.
Speaker 7 (24:10):
About hearing this, expect strong and unusual currents and unpredictable
soogas as opposed to urgas. At the shore. The warning
hasn't been withdrawn people. And you know what the funny
thing is is when you're told don't go down to
the beach, they all bloody flop down there.
Speaker 3 (24:25):
There was a guy yesterday the Hawaiian news coverage, I
think it was NBC and there was a guy on
a paddle board and they were saying we're just waiting
for the tsunami to come in, and.
Speaker 8 (24:35):
The other do it on a paddle board.
Speaker 3 (24:38):
Don't do that, don't do that, please don't it's that
seventeen to six.
Speaker 8 (24:42):
Thanks Neva, you're on news Talk sa'd.
Speaker 3 (24:43):
B will get to Mitch McCann's Stateside next for the
latest on the White House action against India on trade, Yes,
India in Trump sites this morning. And then kir We
Bank this partial potential for a partial float on the
Stock exchange and the five h hundred billion dollars that
they are hopefully going to pick up after an announcement
(25:05):
from Nicola Willis yesterday.
Speaker 8 (25:06):
It's all ahead before.
Speaker 1 (25:07):
Six international correspondents with ends and eye insurance, peace of
mind for New Zealand business.
Speaker 3 (25:14):
We'll check kvy Bank in a second just gone fourteen
away from six now and Mitch McCann is our US correspondent.
Speaker 8 (25:20):
Mitch, good morning, Good.
Speaker 15 (25:21):
Morning, Ryan, how are you very well?
Speaker 8 (25:23):
Thank you tell us about this.
Speaker 3 (25:24):
We're a day away from the trade deadline and Trump's
in to trade deadline and we've got a bit of
a hit out on India.
Speaker 15 (25:32):
Yeah, that's right. Donald Trump wanted to sign I think
it was ninety deals in ninety days, Ryan. Unfortunately for
the president, I think he's managed five. And on the
first of August, these reciprocal tariffs are going to come
into place. These are new tariff rates pretty high for
most of America's partners. But instead of signing a deal
with India, he's decided he's going to slap a twenty
(25:53):
five percent tariff on in there. He said, India is
our friend, but we've done little business with him over
the last few years because their tariff are too high,
which really indicates he's not happy with the way trade
negotiations have been going. And another important aspect of this
is that Donald Trump says India has been buying too
much military equipment and energy from Russia, and he's threatening
(26:14):
a second tariff concerning that matter in the coming days.
So Donald Trump says all things not good in capital letters,
and he's implementing a twenty five percent tariff on India.
Speaker 3 (26:25):
And you've been watching our government calling for a two
state solution to Gaza.
Speaker 8 (26:30):
This is at a UN conference.
Speaker 15 (26:32):
Yeah, that's right, a high level conference this week, Very
timely given what we're seeing in Gaza at the moment.
France and Saudi Arabia holding this conference where a number
of members of the international community have had a chance
to talk about how they want to advance the two
state solution. Now, this morning we heard from Nicole Robertson
from in Fatchie's, New Zealand's head of delegation. Here's what
(26:52):
she said about New Zealand and the two state solution
and Israel's actions.
Speaker 17 (26:57):
Israel's actions, including its withholders and politicization of humanitarian assistance,
are unacceptable. Failure to do this not only undermines human rights,
but also the long term prospects for security and stability
and the international rules on which we all rely.
Speaker 15 (27:17):
Then, Nicole Robertson there Ryan said it remains for us,
as in New Zealand, a matter of when, not if
Palestinian statehood is realized. Of course, Christopher Luxen says that
is something that is possible in the future, but he
wants pressure on Israel to get humanitarian aid into Gaza
as the priority at the moment.
Speaker 3 (27:34):
Mitch, appreciate it. Thank you, Mitch McCann our, US correspondent.
It is twelve to six Bryan Bridge. Good news for
banking competition, Well, hopefully good news for banking competition. The
government giving the green light for a capital injection from
the private sector. Cabinet approving raising half a billion, five
hundred million dollars through QB saver funds and investment groups
with the hope of finally making the bank competitive with
(27:58):
the big four of the Aussies. Is Associate professor at
Massi University Business School, a banking expert.
Speaker 8 (28:03):
Clear, Good morning, Marina Iron.
Speaker 3 (28:06):
Is this going to shift the dial in terms of
its competitiveness, how argibargie it can be in market?
Speaker 11 (28:14):
Well, it's sitting in and make a difference. We're talking
about increasing its capital by around seventeen percent, but in
reality it's still going to be substantially smaller than the
big four Australian banks. It's obviously going to be able
to do more lending and if it can do a
substantial amount more lending. Then it can be challenging in
terms of what it offers, but it's not going to
(28:38):
take it anywhere near the size of the Big Four.
So the extent of which to which it will actually
impact on competition is questionable.
Speaker 8 (28:45):
How do you get it there?
Speaker 3 (28:46):
Do you need to put it on the stock market,
as Nicola Willis is sort of indicated, is potentially an option.
Speaker 11 (28:54):
We're still talking a huge amount of increase in capital
that would be required in order to get it to
anywhere like the size of the Big Four, enabling it
to grow and enabling it to do more lending, whether
it's through this capital injection or additional capital through an IPO,
that's all going to help. But as usual, we're overstating
(29:16):
the competition issue in the market in my view, because
we do have a competitive market. qEV Bank is making
a difference as it is. Yes, it will make a
bit more of a difference if it's able to do more,
But whether we're going to see a huge change in
terms of what's happening in the banking market, I just
(29:37):
don't see that it's going to happen.
Speaker 3 (29:39):
Is that because it's started a capital or because We're
just a small country.
Speaker 11 (29:47):
It's probably not either of those things. It is certainly
a challenge for keev Bank in terms of its capital
situation because in order to do leaning it needs capital
and it can only generate so much from its normal operation.
So getting more capital as a capital injection helps. We
are a small country, but that's not actually affecting a
competition issue. We have a good number of banks, they
(30:10):
are competing. We seem to perceive that just because they're
making lots of money that that's not competitive. That's not
necessarily the case in my view, and the challenge is
that Kiwibank is just a small bank and at least
you've got something a similar size to the big four,
You're not really going to have a competitive difference with
(30:32):
my view.
Speaker 8 (30:32):
Interesting, Clear appreciate that.
Speaker 3 (30:34):
Clear Mathews as I said, professor at mass University Business School,
saying we don't have an issue with competition in our
bank in sector. Despite what Nikola Willis keeps binging on
about nine minutes away from six News talks, they'd been
right next.
Speaker 1 (30:47):
The news you need this morning and the in depth
analysis earlier thisu with Ryan Bridge and ex Bowl Insulation
keeping Kiwi Holmes warm and dry this winter news talks,
that'd be.
Speaker 3 (30:58):
Six minutes away from six. We all survive the tsunami, congratulations,
But when will we die?
Speaker 8 (31:04):
That is the question.
Speaker 3 (31:05):
Yesterday we had some numbers out on life, the longevity
of life, and the average male life expectancy at birth
rose to eighty point one years for twenty twenty four.
That is the highest ever. For females it's about three
years longer, so they do live longer than us. But
if you're thirty five years old, your expected your life
expectancy on average would be eighty one point four years.
(31:27):
If you're forty five years old you made it that far,
then it would be eighty one point nine years. For
fifty five year old it would be eighty two point
nine years. And for sixty five year olds. If you're
sixty five right now, you will probably on average reach
eighty four point four years. If you make it to
eighty years a male, you can expect to live to
at least eighty eight point six years. For females that
(31:51):
is very close to ninety five to six. Cram Bridge
and I've thought i'd read that because Mike's here and
I know how much how long you want to live for.
Speaker 18 (32:00):
It's the quality, you mate, It's not about the length,
it's the quality. Surely you've been told that before.
Speaker 3 (32:04):
Well, yes, but I just think at some point the
two things. It's like the graph gets a bit skilled
with where you get so old?
Speaker 18 (32:15):
Is it quality anything? There's something there isn't there? But
you look at people like, there's no question that sixties
the new forty seventy is the new fifty.
Speaker 8 (32:24):
But you get hang on, hang on, you're jumping.
Speaker 18 (32:26):
No, you get past eighty here, you get past eighty
though you don't see many really well eighty high eighties,
do you, And once you get to ninety it becomes
really rare. Something happens in the eighties to nineties that
you're sort.
Speaker 8 (32:37):
Of the body gets the body.
Speaker 18 (32:38):
Yeah, it's yeah, I don't know. And so at that
point you're talking about medical and medical intervention. But I
reckon this generation of people because I read a lot
about this and the generation of people. If you get
in early, the stuff they know now about genes and
turning genes on and off and stuff is incredible. And
so if you get in early and you conduct your
life in a way that you know aims at longevity.
Speaker 8 (32:57):
You'll you'll be away on.
Speaker 3 (32:58):
Every fine, But then you've got such an expensive retirement.
I mean, if you retire at sixty five, if you
may need, didn't come until you're ninety.
Speaker 18 (33:04):
See, that's the other part of it. No one's retiring
in sixty five. No one's retired sixty five, And that's
that's a big change. In fact, I know a guy
who his father is ninety something now and he says
his biggest regret said to his son, his biggest regrets
to son sixty three. He said to his son, his
biggest regret was retiring at sixty five, because he's been
retired for thirty something years now and he's bought out
(33:25):
of his brain.
Speaker 8 (33:26):
But he's still here exactly.
Speaker 18 (33:28):
And soon we want to work longer. You and I
be here for another thirty forty years, right, yeah.
Speaker 3 (33:32):
Yeah or not.
Speaker 8 (33:35):
I don't know about that.
Speaker 11 (33:37):
Now.
Speaker 8 (33:37):
What have you got on the show today?
Speaker 18 (33:38):
Courts they're changing the rules. They've done a trial pilot
worked well apparently judge only, so they're going to roll
it out right around the country. Yeah, you can't get
a jury for love nor money, as far as I
can work out, you know, Jeremy Pitten.
Speaker 8 (33:48):
Yeah, he's in Oh lovely, he's here today. Yeah, big
day on the Mike hosting Breakfast. See to him over.
Speaker 12 (33:55):
Runs Rules to the Gown.
Speaker 1 (34:07):
For more from Early Edition with Ryan Bridge, listen live
to News Talks it Be from five am weekdays, or
follow the podcast on iHeartRadio
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