Midday Edition: 29 May 2025

The Midday Edition of News Fix for 29 May 2025, straight from the Newstalk ZB newsroom - bringing you everything you need to know in news, politics, business, entertainment and sport.

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Episode Transcript

Speaker 1 (00:04):
Good afternoon. I'm Malcolm Jordan and this is your midday
news fix for Thursday, the twenty ninth of May. The
Reserve Bank top brass are warning inflation could again head north.
Its key leadership team has fronted up to MPs on
the Finance Committee today after yesterday cutting the ocr by
zero point two five percent. Chief economist Paul Conway says,

(00:25):
after a sustained period of subdued inflation, it's now likely
to creep up from two point five percent.

Speaker 2 (00:32):
It's very clear to us what's driving the current blip
and inflation, and you know, we're well aware of the
factors that are going to push it, you know, most
likely nudge it up to two point seven percent sort
of later in this year.

Speaker 1 (00:44):
And meanwhile, the government's being urged to prioritize addressing surging
energy costs. An Auckland Business Chamber and Northern Infrastructure Forum
survey reveals just under fifty percent of their members are
highly concerned about prices, but businesses are said to be
skied to speak out due to the risk of retaliation
from power companies. Forum executive director Barnie Irvine expects more

(01:07):
volatile and unaffordable prices If things continue, that.

Speaker 3 (01:10):
Is going to hurt productivity. It's going to result in
yet more companies cutting back their production.

Speaker 2 (01:18):
And hitting the wall.

Speaker 1 (01:19):
Fonterra is reporting a strong rise in profit while warning
of more global uncertainty on the horizon. In its latest
quarterly update. Profits up eleven percent while earnings per share
are up thirteen percent, with more Business reporter Michael sergle.

Speaker 3 (01:35):
The dairy Giants forecasting a farm gate milk price payout
of ten dollars and an earnings range of sixty five
to twenty five cents per share. It expects demand to
continue for now, but still isn't sure how the next
year will track. It's forecasting a payout of ten dollars
for next season, but within a forecast range of eight
dollars to eleven dollars.

Speaker 1 (01:56):
Fresh debate is brewing over how government agencies should have
handle a recent spate of leaks. Public Service Commissioners Sir
Brian Roach has urged public sector bosster's bosses to shut
it down, including sackings. We're appropriate. The Public Service Workers'
Union says it doesn't condone leaking, but there needs to
be due process before discipline reaction. Prime Minister Chris Luxen says,

(02:19):
people leaking undermine the vast majority of public servants doing
a good job.

Speaker 2 (02:24):
We've got to keep reiterating the point, and we've got
to keep investigating them when they happen if we can.

Speaker 1 (02:28):
I'm more worried about what it does to undermine the
public service. Israel's defense force has yet to confirm Hamas's
leader is dead, despite their Prime minister saying as much
last week. Hamas hasn't confirmed Mohammed Sinwa's apparent death either.
In an Israeli strike on a hospital in South Gaza
on May thirteen, at least six people were killed and

(02:49):
forty wounded. See an N correspondent Jeremy Diamond says, if
he's dead, it gives Benjamin Netanyahu an opening to claim victory.

Speaker 3 (02:58):
We will see whether or not that impacts those ceasefire
and hostage release negotiations and Israel's willingness to agree to
a temporary ceasefire.

Speaker 1 (03:06):
Here to sport, thirty two year old Blues captain Patrick
twey Boloto has re signed with New Zealand Rugby for
a further three years. Manchester United have flown ten thousand
kilometers to get booed off the field in Kuala Lumpur
after losing a festival football game one mill. On the upside,
the club stands to generate more than seventeen million dollars

(03:27):
from the expedition to Malaysia and Hong Kong. Aaron Ratler
fanstand and doubles partner Victoria Azarinka have been ousted in
the first round of the French Tennis Open. I'm Malcolm Jordan.
That's your latest news fix. We'll be back with the
next update at five pm from the newstalk ZB newsroom.