18 councils and three council-controlled organisations have recently had their credit ratings downgraded by S&P Global Ratings.

The credit rating agency has expressed concern that councils aren't receiving enough revenue to cover rising costs, including investment in infrastructure.  

NZ Herald Wellington business editor Jenee Tibshraeny explains further.

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18 councils and three council-controlled organisations have recently had their credit ratings downgraded by S&amp;P Global Ratings.
The credit rating agency has expressed concern that councils aren't receiving enough revenue to cover rising costs, including investment in infrastructure.&nbsp;&nbsp;
NZ Herald Wellington business editor Jenee Tibshraeny explains further.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Jenee Tibshraeny: NZ Herald Wellington business editor on S&P Global Ratings downgrading the credit ratings of 18 councils

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c15dcd12-4cd4-42e2-8ed7-b2a50074d4b3/transcript

The ongoing conflict in the Middle East has been taking place for five weeks, and it's started to impact financial results.

Data shows business confidence has plunged over the last month, airlines are cutting down projected results and retail and construction have taken a hti.

Sam Dickie from Fisher Funds explained further.

LISTEN ABOVE

The ongoing conflict in the Middle East has been taking place for five weeks, and it's started to impact financial results.
Data shows business confidence has plunged over the last month, airlines are cutting down projected results and retail and construction have taken a hti.
Sam Dickie from Fisher Funds explained further.
LISTEN ABOVE

Sam Dickie: Fisher Funds expert on the ongoing economic costs of the Iran war

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/034db659-c22d-4f07-aaa5-b42000759399/transcript

A farmer has revealed he gets paid 60 cents for 1kg of peas - which were selling for $5.79 at the local Pak’n’Save.

This has prompted questions about where the extra margin goes, especially following the planned closures at McCain and Watties.

Foodstuffs North Island CEO Chris Quin says it's unclear where the $5.79 figure came from.

"It's certainly not easy, and I think that's what we're seeing with McCain and Watties - it's pretty tragic news." 

LISTEN ABOVE

A farmer has revealed he gets paid 60 cents for 1kg of peas - which were selling for $5.79 at the local Pak’n’Save.
This has prompted questions about where the extra margin goes, especially following the planned closures at McCain and Watties.
Foodstuffs North Island CEO Chris Quin says it's unclear where the $5.79 figure came from.
"It's certainly not easy, and I think that's what we're seeing with McCain and Watties - it's pretty tragic news."&nbsp;
LISTEN ABOVE

Chris Quin: Foodstuffs North Island CEO on farmers raising questions over supermarket food prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4fdd5ef8-66c4-4af4-aa0b-b4200065c59a/transcript

ASB is facing a fine of around $6 million for breaching anti-money laundering rules. 

Banks are required to do their due diligence with their money, in order to comply with existing legislation - but ASB hasn't followed the right systems. 

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

LISTEN ABOVE

ASB is facing a fine of around $6 million for breaching anti-money laundering rules.&nbsp;
Banks are required to do their due diligence with their money, in order to comply with existing legislation - but ASB hasn't followed the right systems.&nbsp;
NZ Herald Wellington business editor Jenee Tibshraeny explained further.
LISTEN ABOVE

Jenee Tibshraeny: NZ Herald Wellington business editor on ASB facing a $6 million dollar fine for breaching anti-money laundering rules

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b17d60b5-18a6-4d98-a1a3-b41f0075944a/transcript

Jenee Tibshraeny: NZ Herald Wellington business editor on S&P Global Ratings downgrading the credit ratings of 18 councils

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