Best of Business

New data out of Federated Farmers shows profitability is the highest it’s been in a decade, with 72 percent of farmers making a profit and fewer than one in 20 making a loss. But confidence for the next 12 months has dropped, with many farmers wondering how long these good times can really last. The Country's Jamie Mackay outlined the survey results further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Nicola Willis is hinting National could introduce more income tax cuts if the party's re-elected, but Kiwis may have to wait for them. Speaking on a panel at BusinessNZ’s election conference in Wellington, Willis said the party has been monitoring 'bracket creep' and adjustments could be made after a return to surplus.  OliverShaw Tax Partner Robin Oliver says there's a case for indexing the tax rates, and the Government should be transparent if they need to make changes.  "We should legislate that each year, the Government should be transparent, it should go to the public and say - actually, we need to increase the tax rates on middle-income New Zealanders because we're going to spend it on healthcare, ED, what have you." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Belief July's record tourism numbers is a reflection of an investment finally paying off.   Stats NZ data shows 256-thousand-600 overseas tourists arrived during the month - overtaking pre-Covid numbers from July 2019 by 0.4 percent. Rotorua Mayor Tania Tapsell told Andrew Dickens the effort from local council, regional tourism operators and the Government is finally bearing fruit.  She says July is usually a quiet time, so the big win is the 70 percent jump in business events that keep Rotorua afloat. See omnystudio.com/listener for privacy information.

With the election under two months away, questions have been raised over the impact of Labour's proposed capital gains tax. This campaign promise has copped some backlash, with National releasing several AI-generated ads condemning its impact. Dentons tax partner Bruce Bernacchi says it could take some time to reveal the impacts of a capital gains tax, given the current 'flat' state of the property market.  "I'm not privy to their modelling and maybe that's why it's been quite narrowly targeted at the free doctors' visits. But there surely must be a mismatch for the first few years." LISTEN ABOVESee omnystudio.com/listener for privacy information.

I hope you'll be phoning in to tell me all about the CRL - because it's trains, planes and automobiles today with the official launch of the long awaited CRL yesterday. This morning it was the hard launch as commuters test the reliability, convenience and time saving potential of the railway line. Tough day to be a bus. Nobody cares, you big stinky diesel thing, even though I know a few of you have turned electric. There the buses are heroically supporting the commuter network, around 70 million passenger trips per year. Where's the gratitude? There is none. It's all, ooh, shiny trains. But honestly, who doesn't love a train? And there'll be some of you thinking, oh, how very Auckland. Come on, you know and I know that when you go to New York or London or Paris or Hong Kong or Singapore, even Australia, it's so exciting to be able to jump onto a commuter line that works, that takes you where you want to go cheaply, expeditiously. It's fantastic. We have our Oyster cards and we've worked out the lines, and we think we're so sophisticated as we jump on and off the trains. The subways, metros or tubes might be old and dirty or smelly, but you can spot a Kiwi, because they're so excited to be on there. There's none of this block yourself off and go into your own mind if you're a resident of the aforementioned cities. You just block yourself out and think this will be over soon, this too will end. We're bouncing around and hanging off the straps, just thrilled to bits to be there. And now we've got one of our own. I would definitely be using a train if the new harbour crossing is built with the capacity to run trains, although I will probably be dead by the time a new harbour crossing is built. My ancestors will rejoice. And the rejoicing yesterday, the Sky Tower was lit up with the CRL map, people of all ages set their alarms to stupid o'clock to catch the first train. People from around the country came to Auckland to ride the first train. I'd probably draw the line at saying, 'Tunnel, tunnel, tunnel' - a group chant as you go through the first tunnel, but then I'm not a rail fan or a trainspotter or a ferroequinologist or an anorak or a gunzel or a foamer or a densha otaku, which is all names from different cultures for those who love trains. But the fact that there are so many names in so many different languages and so many different cultures for people who love trains shows what a fan base they have. But beyond this special group of people getting their kicks, there's hope that there will be a significant return on investment with the building of the CRL. Aucklanders lose millions of hours each year stuck in traffic and removing even a small percentage of vehicles makes travel times faster, more reliable for everyone else and that improves productivity. It is hoped that the flow on effects will go right down the country, it won't just be a fun thing to ride - or to go on the new ale trail, or the ale rail trail, whichever you want to call it. Some friends of mine said they were going to go on the new rail link over the weekend and stop off for a glass of wine at different stations, or water after the first two. But there is an actual ale trail on the rail. Five breweries, independent breweries have signed up for it, so you can Google that and find it. Businesses like our lovely lady with the flowers in Victoria Street will be praying that the disruption and the loss of business and the hanging on by a thread will all be worth it now that the CRL is finally up and running. So I would love to hear from those of you who have ridden the train, who have jumped on board, test driven it yesterday or have taken the chance to come into work today on the train. Does it make much difference? Is it going to be part of your regular commute?  LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's growing calls to boost the health system in order to drive economic growth, and BusinessNZ has outlined its concerns. The list of Health Priorities  calls on political parties to take a smarter approach to health spending, including increased Pharmac funding, better workforce planning, and more opportunities to adopt medical technology. BusinessNZ CEO Katherine Rich says good health policy is good economic policy, and it's important to look at healthcare as an investment.  "If you invest well and differently, it means you can get people back to work...there are some concerns that we have had for a long time that we don't get the proportions of the health dollar spent in the right places."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Donald Trump is citing the US's rivalry with China as he brushes off concerns around artificial intelligence. The US president is downplaying the heightened AI risks, despite multiple days of dire warnings by experts. Grok owner Elon Musk and Sam Altman of OpenAI are backing calls to slow down development to reduce the risk of something going wrong. US correspondent Richard Arnold says Trump has downplayed the risks and said it's important to 'win' when it comes to AI. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The UK's GDP grew by 0.4 percent in July, surprising economists after no growth was predicted. The economic growth was driven by several key sectors, and boosted by more businesses investing in AI and data centres. Business correspondent Vicky Pryce says the World Cup also helped contribute to the growth, with more people spending money in pubs and restaurants over the July period. LISTEN ABOVESee omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together. In this episode, Wilhelmina catches up with Nespresso's very own New Zealand Market Director; Andrew Bowring to discuss the journey of Nespresso coffee from its origin to why it's become such a morning, social ritual both at home and in the office, as an opportunity to strengthening workplace engagement and human connection in a post-COVID culture and environment. Served by Nespresso Professional. See omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together. In this episode, Wilhelmina catches up with Dan Mclaughlin; the co-founder and managing director of Scapegrace to explore Scapegrace’s journey of growth and expansion that took them to being one of New Zealand's most recognisable premium spirits brands, and how coffee can strengthen workplace culture and connection, acting as an icebreaker, and the role it has in building success in a business.  Served by Nespresso Professional.See omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together. In this episode, Wilhelmina catches up with Portia Lawrence and Gavin Hunt to chat how coffee plays an important role in Signature Homes’ culture, creating informal moments for people to connect, share ideas, and strengthen relationships across the business. These everyday interactions reflect the company’s family-focused, people-first approach, where collaboration, continuous improvement, and a sense of belonging are central to how they work.  Served by Nespresso Professional.See omnystudio.com/listener for privacy information.

An artificial intelligence researcher who worked with Anthropic recently quit the industry, and accused the AI giants of 'gambling with our lives' to grow the technology. Jacob Coxon spent the past three years pre-training AI models, beginning at OpenAI and moving to Anthropic, but has since claimed neither of the big companies are 'acting responsibly'. Fisher Funds expert Sam Dickie says this is the latest in the case of AI experts 'sounding the alarm' over the risks of the technology. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New data shows red meat prices are likely to remain strong, but there's a growing risk of market volatility. Beef + Lamb New Zealand has warned the margins are likely to tighten, and they've cited rising input costs and the risk of dry El Niño conditions creating additional pressure. The Country's Jamie Mackay explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's largest Kmart has opened today, at Auckland's Westgate Town Centre. The new store will be the retailer's first to debut the new Plan C+ format with checkouts at the front, and New Zealand's third 24-hour store after Sylvia Park and Manukau. First Retail Group managing director Chris Wilkinson says this new store is unlikely to draw people away from Sylvia Park, as both outlets have their own selling points. "The reality is, Sylvia Park has its own draw, it's got a lot of very unique retailers there - and at the end of the day, the Kmart product is the Kmart product."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Apple revealed its first foldable iPhone today, alongside the new iPhone 18 Pro and Pro Max and some other new products. The new 'Duo' product will be available by the end of next month - but Kiwis will have to pay at least $4199 for one on the low end. BusinessDesk tech columnist Peter Griffin says we're all holding onto our phones for longer, and there's no need for most people to rush into upgrades.  "You're talking about the wealthiest consumer tech company in the world, it's taken years to develop this - so you'd expect that the product is excellent, and we'd sort of expect that it would be expensive."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

People can't get enough of the Warriors this week, as finals fever grips fans all over the nation. Saturday's big finals clash against the Dolphins at Mount Smart Stadium has seen historic demand, and jerseys and other merchandise are flying off the shelves. Warriors COO of Commercial and Marketing Glenn Harris says everyone wants to be a part of the 'togetherness' and that's reflected in what they wear to the games. "Everywhere we go, people are wearing merch - and even if they have merch, they want to get more merch."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwi brewers have voiced frustration with Australia's excise tax break for their brewers - and claimed it gives them benefits that New Zealand companies can't get. This means New Zealand-produced beer is taxed more than its Australian counterpart, and this dispute between the trans-Tasman partners has been a point of contention for over a decade. Garage Project co-founder Jos Ruffell says their brewery has had to pay $2.5 million worth of tax in Australia because of this, and this should have been resolved earlier. "MFAT's looked into this, it's a clear breach of CER and we've had some really encouraging news in the last week where Minister McClay has actually now raised this openly with his Australian counterpart, and he's acknowledged that there is a precedent with wine."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The pork industry is calling for more clarity around 'country of origin' labelling when it comes to their products, but the Government won't make any changes. Plenty of Kiwi shoppers think they're buying locally sourced bacon, pork, or ham - but that's often not the case. NZPork chief executive Brent Kleiss says these products can be labelled, but it's often on the back of the packaging in small lettering and the rest of the marketing can be misleading. "What we'd really like to see is a bit of a change to make it much easier for consumers to know where their bacon and ham that they're purchasing actually comes from."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government is looking to crack down on ACC-based fraud, but questions have been raised over the details of this move. ACC Minister Scott Simpson recently promoted that number of fraud investigations launched by ACC increased '12-fold' from two in the 2023 calendar year to 24 in 2025. In the eight months to the end of August this year, it launched 38 investigations. NZ Herald Wellington business editor Jenee Tibshraeny explained that the ACC sees millions of claims a year, and there's been a decrease in interventions in claims. LISTEN ABOVESee omnystudio.com/listener for privacy information.

After a tough year for KMD Brands, the company's luck is turning around on the share market. The company behind Kathmandu and Rip Curl saw its share price go up by 17 percent, largely driven by Australian entrepreneur Josh Rudd buying 6 percent shareholding. Milford Asset Management expert Jeremy Hutton outlined what this could mean for the company - and whether a full takeover is possible. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Cheers for a Government report on hospitality, according to some industry experts.  A Ministry for Regulation review has found bureaucratic red tape and complexities could be scaled back. It's found food safety checks were sometimes disproportionate to risk, and unnecessary costs from building requirements. Brewers' Association Executive Director, Dylan Firth, says district licensing committees have caused inconsistencies. "You've got some businesses waiting six months to get a licence, if not a year to get a renewal. And that's just really difficult for business - you know all these people want to be doing is providing food and beverages to their customers and their communities."   LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government's following a Ministry of Regulation recipe for more straightforward hospitality rules. A review's outlined the costly and cumbersome problems faced by food and drink operators. Ministers are now working with industry players on a Hospitality Action Plan, with the aim of developing more consistent templates and tools.  Newstalk ZB senior political correspondent Barry Soper voiced support for less red tape around the sector - and says other people working in the industry have had issues in the past.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The latest forecast from BusinessNZ shows New Zealand's economy's regained momentum.   It's predicting solid economic growth out to 2028, citing the fact business confidence is holding up, the Performance of Manufacturing and Services Indexes are back in black, tourism's growing, and credit activity's increased.  Chief Economist John Pask says performance is improving across the board.   He told Mike Hosking there's still some concern in regard to the upcoming election and political risks surrounding policy changes, but businesses are basically saying that they are concerned, but they're moving forward.   Pask says elections are important, but they're not the be all end all, as it were.  LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Growing inflation and a changing economy could inspire Australia's Reserve Bank to start putting the OCR up again, according to one expert. Australia's current official cash rate is currently at 4.35 percent, but the central bank is due to make an announcement later this month. HSBC chief economist Paul Bloxham outlined when the next increase could come - and whether there's more in the pipeline. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One of the biggest names in the world of AI has claimed that the technology can match human capabilities, but one expert has warned us not to get too excited. Nvidia CEO Jensen Huang recently declared that OpenAI's new Astra model has brought about the start of 'artificial general intelligence' earlier this week, and pointed out the technology was aided by Nvidia's chips. Gorilla Technology CEO Paul Spain says it's Nvidia's job to sell the hardware AI runs on - and it needs to keep excitement up in order to sell us on the technology. "That's how his share price stays high, that's how OpenAI and Anthropic end up sort of having big IPOs. So I think this is part of trying to keep it exciting and hype for people - but I'm not sure we've reached what I would call artificial general intelligence just yet."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Buller residents are rallying behind the district’s biggest employer - Bathurst Resources. The mine company is seeking fast-track approval to expand the Stockton site, warning operations could otherwise stop by March - gutting over 200 jobs.  An open letter in support has attracted 3,000 signatures - about a quarter of the district's adults. Organiser of the petition, Jessie Creedmore, says without strong local support, there’s a risk the application could be declined. "As I understand, the fast-track process is very rigorous  - I think that people that think that a fast track is a rubber-stamping exercise, that's not correct." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The US and Iran have launched more tit-for-tat strikes over the weekend, resulting in oil prices going up - but what has it done for the markets? Experts indicate the Asia-Pacific market is still going strong, with the index going up by 1.1 percent. Harbour Asset Management Shane Solly explained further - and revealed why Korean chipmakers are helping things grow. LISTEN ABOVESee omnystudio.com/listener for privacy information.

BusinessNZ's calling for a funding reset on medicines, with a new report highlighting the long-term benefits of investing more into healthcare. The report shows every dollar invested into medicine returns $1.93 to the economy.  BusinessNZ CEO Katherine Rich explained that there's long-term benefits into investing more, including boosting productivity and improving the quality of life for New Zealand families.  "It takes up to six years to get a new drug through - and these are drugs that are available freely not just in Australia, but around the globe."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

A long-awaited project at Port of Tauranga has the green light. The Stella Passage development will extend container berths and wharves, after getting fast-track approval, subject to conditions. Payments will also be made to the local marae as part of 'cultural mitigation'. Port CFO Simon Kebbell says it'll be two and a half years before it's finished. "It's probably going to take six months to stand up for construction, so there will be consent conditions that we have to meet first, to get our contract in line - and then it's a two-year building time." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Waikato distillery The Pōkeno Whisky Company has been selected for an international study into how different climates shape the maturation, chemistry and taste of whisky. The study, titled Climate-Driven Maturation Signatures in Global Whisky: A Comparative Multi-Continental Chemical and Sensory Study, examines whiskies from The 8 Continent Series - including one matured in Antarctica.  Pōkeno Whisky co-founder Matt Johns says the company uses New Zealand-grown ingredients - and the conditions where the barley grows are unique.  "We get a very sweet raw material, compared to other countries. And we've got the pure spring water, our water is very rich in iron manganese - that's really going to help the fruitiness of a whisky."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together. In this episode, Wilhelmina catches up with Co-Founder Nicola Taylor to talk about how the coffee machine has become the modern equivalent of the office water cooler. A space where informal conversations happen, new ideas emerge and creativity flourishes outside of traditional meetings. Served by Nespresso ProfessionalSee omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together. In this episode, Wilhelmina catches up with Greig Brebner & Todd Graydon to explore the journey behind their globally recognised brand, Blunt. From building a product that redefines a daily essential to navigating the challenges of Covid and what came after.   Served by Nespresso Professional See omnystudio.com/listener for privacy information.

In this special series of The SME Stream Podcast, Wilhelmina O’Keeffe steps inside some of Aotearoa’s most loved small and medium businesses - exploring their culture, their stories, and how coffee helps bring people and ideas together.  In this episode, Wilhelmina catches up with Toni and Christina Sills to chat about the growth, change and culture of their recognisable brand and what it's like to work with family. Served by Nespresso ProfessionalSee omnystudio.com/listener for privacy information.

New data shows there's a subset of Kiwis who are being hit harder than most by rising interest rates. At least 3600 first home buyers owe more than what their home is worth, but Cotality suspects the number could be higher. Cotality Chief Property Economist Kelvin Davidson says true number in negative equity is likely to be higher because many bought with a deposit smaller than 20 percent. "If you live somewhere like Auckland or Wellington, where values are down 25, then you'll sort of be 5 percent in negative equity - which, very quickly...are based on average values. It could be $40,000. something like that. It's not trivial." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwibank is looking to take on its Australian rivals - and they're looking to reveal how many of their savers are missing out on interest on their 'bonus saver' accounts. Bonus saver accounts are those where the highest rate of interest is only available if a saver complies with certain requirements like making a deposit each month and not making any withdrawals. Kiwibank CEO Steve Jurkovich says many savers don't understand how these arrangements work, and the 'complexity' of banking has made it tough for people to understand. "The real story here is, of course, that life happens. And so, you think you're going to be able to put that money away, you think you're not going to have to touch it - and then, surprise, surprise, something happens and you do need to touch it."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Here's the headline: "3000 hospitality businesses close in a year".  That’s what the media not only does, but loves. They would perceive it as bad news and they can't pedal bad news enough.  But in the numbers are the real story.  The 3000 is made up of closures and liquidations. A closure can mean nothing more than a person leaving the country or closing one establishment to open another. That happens all the time.  It's not a sign of anything other than mood or inspiration.  It's important to also remember that there are more openings than closures. That’s the real story, so in essence the hospitality scene is actually growing.  Not that a headline about 3000 closures would ever tell you that.  Ironically, it's also perhaps an insight into the reality of hospitality, which is to say it's a very easy entry into business, given a lot of hospitality is hole-in-the-wall sandwich-type stuff, often by migrants, that comes and goes.  So on one hand we are growing and on the other it's an in-and-out sort of operation that is not really reflective of a wider economy, or its story.  The next part of the stats dump is liquidations. They tell us liquidations are up 42% year on year. That sounds bad, until you hear the next number, which is 1.3%.  The 1.3% is the percentage of businesses that actually end up liquidated, which of course is hardly any.  98.7% are not liquidated, so the 42% is off an extremely low base and not, if you were being honest, worthy of a headline.  But remember the key here; it's all about bad news.  Do you want a worse one?  Takeaway liquidations were up 143%. That's a shocker, except, remember that takeaways is a subset of overall liquidations and the liquidations only represent 1.3%. So imagine how small the actual number of fish and chip shops this actually involves is. So, 143% of what?  So, to the narrative. If a headline is all you ever see you will believe we are a dump, it’s a mess and things aren't improving. And yet the truth is a whole different thing.  In these numbers and the narrative is the modern-day story of news and information; what's real versus what they want you to think is real.  It sadly requires work on your part to get to the real story.  And in this case, it is nowhere near as bad as they make out. In fact, it's almost entirely the opposite. See omnystudio.com/listener for privacy information.

An industry group for chartered accountants is putting a novel idea on the table to lower the cost of New Zealand Superannuation to the Crown, while keeping it universal. Chartered Accountants Australia New Zealand is advocating for the next Government to allow people to delay the age at which they start receiving Super. According to NZIER modelling, this approach could reduce the annual cost of Super to the Crown by billions of dollars every year, depending on how the system was designed. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank has raised the OCR by 25 basis points to 2.75 percent, in line with economists' expectations.  Markets expected the cash rate would go up, but many had priced in a bigger increase - and there's still an expectation that the OCR could go up further down the track. Milford Asset Management's Remy Wisenberg explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Methanex is shutting down its Taranaki plant after 40 years of operation, and there's growing discussion about what this means for the energy sector and wider economy. The methanol producer is selling most of its natural gas entitlements from the first quarter, and it says continued decline in domestic natural gas, and no clear pathway to meaningful new supply means it isn't sustainable to continue operations in New Zealand. Former CEO of Methanex Bruce Aitken says Labour's decision to ban oil and gas exploration in 2018 was bad for the sector, with many companies paying the price for it now. "It's a pretty sad day in a lot of ways, but it's a consequence of one silly ideological decision."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

More Official Cash Rate hikes are possible, but far from guaranteed. The Reserve Bank has raised the cash rate 25-basis-points this afternoon to 2.75 percent. Governor Anna Breman says they are moving it towards a neutral level, to around 3 percent. But she says nothing is set in stone. "Today's decision will allow us to assess the impact of these two OCR increases - and then we will see whether we need to do further increases."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank has raised the Official Cash Rate 25 basis points, from 2.5 percent to 2.75. The Monetary Policy Committee agreed unanimously to the rise, broadly expected by economists and the market. Newstalk ZB senior political correspondent Barry Soper says this could have an immediate impact on retailers, as people will now have less money to spend in stores.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

About 130 jobs could be on the chopping block at Woolworths. Workers First Union says Woolworths is proposing to cut about 130 customer care roles in New Zealand - with affected staff called to a meeting. Woolworths says it's exploring integrating customer care operations with Sydney's established support capability. Union deputy secretary Rudd Hughes says this move won't help their customer service, as people will benefit from having workers who have insights into New Zealand operations. LISTEN ABOVESee omnystudio.com/listener for privacy information.

More Australian retailers are rolling out facial recognition technology, and it's prompted concerns from experts. Industry groups say the move is about safety, but experts warn of an incoming 'scope creep' that comes with this technology. Australian correspondent Kristina Harazim says consumers privacy advocates are drawing comparisons between Australia and China and North Korea over this technology, as Coles and Woolworths look to incorporate more of it into their stores. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand business confidence fell 2 points in August to 54 from 56 last month - and it's sparked discussion about what this could mean for the OCR. There's speculation the cash rate could be set for an increase this Wednesday. Harbour Asset Management's Shane Solly outlined his prediction further ahead of the next update. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Jewellery chain Michael Hill is reporting a 376 percent increase in annual statutory net profit from its global business. New Zealand retail revenue is up 3.1 percent. CEO Jonathan Waecker says it's a great result that profit has gone up in all three markets, including New Zealand. "Our offer in New Zealand is resonating really, really strongly, and in Australia, we are seeing some softness with certain consumers - so we're just needing to go to market a little bit differently."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Finance Minister says the Government has made the right move in delaying increase to the fuel tax at this stage. The excise was due to rise 12-cents a litre next January, but has been delayed to the following year - and will only be five cents. Nicola Willis says the Government is still on the path to returning to surplus, and they've determined they can fit this in as part of it. "Ultimately, we've judged that we can fit it and also meet all of our budget responsibility rules in terms of maintaining that path to surplus - ensuring that we're still going to get debt tracking down." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Residential and retirement property developer Winton Land has been suspended from the NZX after a board exodus. Three directors have resigned after founder Chris Meehan quit as CEO in July - among them, former Finance Minister Steven Joyce. Shareholders Association head, Oliver Mander, says losing independent directors meant the business no longer met requirements for being listed on the exchange.  "It's definitely not a technicality, it's a pretty core principle for a publicly listed company that exists on the exchange - there should be appropriate representation there." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Road Carriers Association says the Government delaying a fuel excise hike reflects election year political realities. The Government's today cancelled the 12 cents a litre increase scheduled for next January - and will have to top up the Land Transport Fund, to the tune of $1.4 billion dollars.  Association Advocacy Head, James Smith, says successive Governments keep delaying funding. "It just means that the gap in the national Land Transport Fund is going to come out of general taxation for yet another year."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has unveiled a proposed bill designed to ban under-16s from social media - and it could stop all Kiwis from accessing certain platforms if the companies don't comply. Section 38 of the bill lays out 'access restriction orders' which gives the High Court power to require access service providers to stop providing access to these platforms.  Newstalk ZB political reporter Ethan Griffiths says Meta could be faced with giving up 10 percent of its annual revenue if it doesn't comply with the bill - with Minister Erica Stanford saying 'meaningful' consequences are needed.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

State broadcaster TVNZ posted a paper loss of nearly $24 million today, but an operating profit of $3.9 million. CEO Jodi O'Donnell told Heather du Plessis-Allan that the paper loss was due to a heavy rate of investment into the streaming platform. "We've signalled that for the next two years we will strategically invest our savings into ensuring that TVNZ is around for a long time yet," O'Donnell said. LISTEN ABOVE See omnystudio.com/listener for privacy information.