New Zealand's voice of reason is Mike the my Hosking Breakfast with Bailey's real Estate altogether better across residential, commercial and rural news talks head beat, Well, are.

New Zealand's voice of reason is Mike the my Hosking Breakfast with Bailey's real Estate altogether better across residential, commercial and rural news talks head beat, Well, are.

You welcome today? A couple of new laws that got past yesterday. Drug testing on the roads is coming in sentenced discounts at Fontira hits the road to talk to us about the sale of their consumer division and speaking of the land, more records have been broken in the court industry, so will give you those numbers. Sir Bob Geldoff cops in after eight three yarm with Joe mckennison, Rome Rod Linton as the schedule from Britain. Posky, welcome to Thursday seven past six. Yes, Fontira, they gave us the half year profit the other day and this is a company we should all be pleased for and celebrating at the moment. Of course, the dairy story against the backdrop of broader economic darkness for this country is not to be underestimated. The billions of being poured into the country is more than welcome. At the farm gate prices at the midpoint of ten dollars, which is amazing for farmers and all the downstream businesses that collect a bit of that income. But as for the company itself, if you look at the numbers, you will see what they call the consumer channel. That's the stuff that they sell at the shop as opposed to the bulk stuff they sell like whole milk powder. The consumer channel is things you will know and having your basket at the supermarket anchor Mainland Fresh and fruity capity. The numbers for this division for the half year volumes are up eight and a half percent. They had margin growth, that's profit over all. The profit was one hundred and seventy three million dollars. This is a good business, and good businesses are doing well. Why do I mention this well because they're wanting to get out of that particular business. They want to sell it or float it. They've decided that others can do it better. This, as I've said before, and I'm taking the opportunity given the result to say it again, is a mistake. The numbers show you it is not a troubled business. They are not sinking or losing money or having problems being profitable. They know what they are doing. It is also a related business. It's not like they do whole milk powder and coat hangers. It's all dairy related. The problem with getting rid of something that you've decided you don't want is regret. What they have is valuable, it's brands, it's loyalty, it's patriotism, it's a good news store, performing will. Flicking something to pocket the cash super easy, but you run the risk of regret. And here's the thing. There are many people with vastly more experienced than me in these areas that argue exactly the same. If Fontira can line all the doubters up, pitch their case and change minds, fine, but they haven't done that yet. So the question is still very much alive. Are they on the verge of making a very big and expensive mistake?

You welcome today? A couple of new laws that got past yesterday. Drug testing on the roads is coming in sentenced discounts at Fontira hits the road to talk to us about the sale of their consumer division and speaking of the land, more records have been broken in the court industry, so will give you those numbers. Sir Bob Geldoff cops in after eight three yarm with Joe mckennison, Rome Rod Linton as the schedule from Britain. Posky, welcome to Thursday seven past six. Yes, Fontira, they gave us the half year profit the other day and this is a company we should all be pleased for and celebrating at the moment. Of course, the dairy story against the backdrop of broader economic darkness for this country is not to be underestimated. The billions of being poured into the country is more than welcome. At the farm gate prices at the midpoint of ten dollars, which is amazing for farmers and all the downstream businesses that collect a bit of that income. But as for the company itself, if you look at the numbers, you will see what they call the consumer channel. That's the stuff that they sell at the shop as opposed to the bulk stuff they sell like whole milk powder. The consumer channel is things you will know and having your basket at the supermarket anchor Mainland Fresh and fruity capity. The numbers for this division for the half year volumes are up eight and a half percent. They had margin growth, that's profit over all. The profit was one hundred and seventy three million dollars. This is a good business, and good businesses are doing well. Why do I mention this well because they're wanting to get out of that particular business. They want to sell it or float it. They've decided that others can do it better. This, as I've said before, and I'm taking the opportunity given the result to say it again, is a mistake. The numbers show you it is not a troubled business. They are not sinking or losing money or having problems being profitable. They know what they are doing. It is also a related business. It's not like they do whole milk powder and coat hangers. It's all dairy related. The problem with getting rid of something that you've decided you don't want is regret. What they have is valuable, it's brands, it's loyalty, it's patriotism, it's a good news store, performing will. Flicking something to pocket the cash super easy, but you run the risk of regret. And here's the thing. There are many people with vastly more experienced than me in these areas that argue exactly the same. If Fontira can line all the doubters up, pitch their case and change minds, fine, but they haven't done that yet. So the question is still very much alive. Are they on the verge of making a very big and expensive mistake?

News of the World in ninety seven.

News of the World in ninety seven.

While hurl of the aforementioned with us after six thirty this morning. Now it's not like this hasn't had built up either, But Chancellor of Rachel, she was cutting and slashing in the commons overnight in her spring statement, while also telling you things are peaching, our plan for change is working.

While hurl of the aforementioned with us after six thirty this morning. Now it's not like this hasn't had built up either, But Chancellor of Rachel, she was cutting and slashing in the commons overnight in her spring statement, while also telling you things are peaching, our plan for change is working.

Defense spending is rising, waiting lists are falling, wages are up, interest.

Defense spending is rising, waiting lists are falling, wages are up, interest.

Rates are cut.

Rates are cut.

That is the difference that this Labour government is making.

That is the difference that this Labour government is making.

Toys. I said, what Tories do?

Toys. I said, what Tories do?

It was the right honorable lady who confected the twenty two billion.

It was the right honorable lady who confected the twenty two billion.

Pound black hole.

Pound black hole.

He smoked, scream there was only ever there in order to cover up for a fact that she and the Prime Minister renamed on their promises to.

He smoked, scream there was only ever there in order to cover up for a fact that she and the Prime Minister renamed on their promises to.

The British Now part of the issue for Reeves and Stalmers, of course, they are walking Philly fine line in their own party.

The British Now part of the issue for Reeves and Stalmers, of course, they are walking Philly fine line in their own party.

I've heard in many of the new MPs which haven't ever kind of rebelled against the government before, saying this is a step too far and really want government to pull back from.

I've heard in many of the new MPs which haven't ever kind of rebelled against the government before, saying this is a step too far and really want government to pull back from.

That rod with this Later on, of course, meantime in Washington, Cockade cock up Gate rolls on. In front of the Intellcommittee. Miss Gibbet, who yesterday was blustering and huffing and puffing, did more of the same to die Directoryvart.

That rod with this Later on, of course, meantime in Washington, Cockade cock up Gate rolls on. In front of the Intellcommittee. Miss Gibbet, who yesterday was blustering and huffing and puffing, did more of the same to die Directoryvart.

Do you think that it's responsible for you, as head of the intelligence community and the principal's presidential intelligence advisor, to retweet posts from individuals affiliated with Russian state media?

Do you think that it's responsible for you, as head of the intelligence community and the principal's presidential intelligence advisor, to retweet posts from individuals affiliated with Russian state media?

That retweet came from my personal account, and I would have to go back to look at the substance of the tweet.

That retweet came from my personal account, and I would have to go back to look at the substance of the tweet.

Can I act perhaps that you not think that you should be saying one thing on your personal account?

Can I act perhaps that you not think that you should be saying one thing on your personal account?

Then you say, officially, I maintained my First Amendment rates to be able to express my own personal views.

Then you say, officially, I maintained my First Amendment rates to be able to express my own personal views.

She's good, ah, not if any blame is to be laid in any headers to roll. The focus seems now to be tuning to the former Foxy Higgsith Secretary.

She's good, ah, not if any blame is to be laid in any headers to roll. The focus seems now to be tuning to the former Foxy Higgsith Secretary.

Hagsath has disclosed military plans as well as classified information.

Hagsath has disclosed military plans as well as classified information.

He needs to resign immediately.

He needs to resign immediately.

He needs to resign immediately and in full investigation needs to be undertaken. Big developments on that. Just a couple of moments where you finally another of these geography scraps made famous by Champagne and Parmesan. This one's for rum. Last year the Jamaican government changed the rules around what could be classified as rum. Aging it overseas is now prohibited. One of the biggest producers a run the National RUMs of Jamaica. They say, well, hold on, that's part of our business. The business model relies on us exporting in bulk aging it off. Sure they're owned currently by the French spirits for mess of I will keep you one posted on that News of the world in ninety couple of inflation reads. Good news for the forementioned Starmer and Co. Two point eight for February, expectations for two point nine core number three point five. They thought it might be three point seven, so are things in the right direction there. And also very good news yesterday for inflation in Australia. They thought two point five came in at two point four. More with Andrew shortly twelve past six.

He needs to resign immediately and in full investigation needs to be undertaken. Big developments on that. Just a couple of moments where you finally another of these geography scraps made famous by Champagne and Parmesan. This one's for rum. Last year the Jamaican government changed the rules around what could be classified as rum. Aging it overseas is now prohibited. One of the biggest producers a run the National RUMs of Jamaica. They say, well, hold on, that's part of our business. The business model relies on us exporting in bulk aging it off. Sure they're owned currently by the French spirits for mess of I will keep you one posted on that News of the world in ninety couple of inflation reads. Good news for the forementioned Starmer and Co. Two point eight for February, expectations for two point nine core number three point five. They thought it might be three point seven, so are things in the right direction there. And also very good news yesterday for inflation in Australia. They thought two point five came in at two point four. More with Andrew shortly twelve past six.

The Mic Asking Breakfast Full Show podcast on iHeartRadio powered by News Talk Zip.

The Mic Asking Breakfast Full Show podcast on iHeartRadio powered by News Talk Zip.

Just quickly on that Spring statement. The takeout mainly are the welfare cuts aforementioned three and a half thousand dollars from your back pocket is taken from three million families, so that's the politics of it. They've cut the growth forecast for the country as well from two percent to one percent, and the defense spending is increased by a further four and a half to five billion dollars. So more with Rod later fifteen past six Money j My Wealth Andrew Keller had good morning, very good money, Michael. Now we'll come to that Australian number in just a couple of moments. But KMD, which we know of course, is other things these days, So.

Just quickly on that Spring statement. The takeout mainly are the welfare cuts aforementioned three and a half thousand dollars from your back pocket is taken from three million families, so that's the politics of it. They've cut the growth forecast for the country as well from two percent to one percent, and the defense spending is increased by a further four and a half to five billion dollars. So more with Rod later fifteen past six Money j My Wealth Andrew Keller had good morning, very good money, Michael. Now we'll come to that Australian number in just a couple of moments. But KMD, which we know of course, is other things these days, So.

What do we know?

What do we know?

It didn't look that flash.

It didn't look that flash.

No, but things look like they could be getting better, and I think that's the key takeout here. So yeah, this was we're going through the sort of tail end of company results yesterday. Name familiar to a lot of the listeners CapMan Do or as it relates to the stock Exchange called Catman Do brands these days. So you got Catman Do as we know it, or the outdoor cad and rip curls so wetsuit surf brand and this, oh bos there's hiking tramping boots that I don't think very many people would have heard of at all. Now, look, we know retail has been a tough gig, Catmand Brands has certainly not been immune from those tough conditions. Result released yesterday gives us a little view into retail in Australasia. So yeah, Mike, they had guided the market to a week result and they told us it was going to be.

No, but things look like they could be getting better, and I think that's the key takeout here. So yeah, this was we're going through the sort of tail end of company results yesterday. Name familiar to a lot of the listeners CapMan Do or as it relates to the stock Exchange called Catman Do brands these days. So you got Catman Do as we know it, or the outdoor cad and rip curls so wetsuit surf brand and this, oh bos there's hiking tramping boots that I don't think very many people would have heard of at all. Now, look, we know retail has been a tough gig, Catmand Brands has certainly not been immune from those tough conditions. Result released yesterday gives us a little view into retail in Australasia. So yeah, Mike, they had guided the market to a week result and they told us it was going to be.

Tough, and the result was in line with that guidance.

Tough, and the result was in line with that guidance.

Sales though, yeah, they do seem to be improving and that's the good thing. So it was in line with guidance. It wasn't good it's still a battle statutream net loss of twenty point seven million for the six months to jan thirty one, earnings down seventy four percent, sales marginally higher. But there are these proverbial green shoots that do appear to be some momentum in the rip Curl and the cap Mandu sales. So if we look at the quarterly sales treams, say go to rip Curl for the Court versus a year earlier, you had five consecutive quarters of negative outcomes, then all of a sudden they're Q two twenty five numbers up six and a half percent. Now on the same metric for the cat Mend shops, also five consecutive quarters of negative quarterly growth, then second quarter up six point nine percent. So look they're coming off pretty low bases, but they are improving. You're not seeing that on O Boz, but that's only a smaller part of the business. And that momentum they saw in the Court, remember that's the end of January, that does appear to be feeding into the.

Sales though, yeah, they do seem to be improving and that's the good thing. So it was in line with guidance. It wasn't good it's still a battle statutream net loss of twenty point seven million for the six months to jan thirty one, earnings down seventy four percent, sales marginally higher. But there are these proverbial green shoots that do appear to be some momentum in the rip Curl and the cap Mandu sales. So if we look at the quarterly sales treams, say go to rip Curl for the Court versus a year earlier, you had five consecutive quarters of negative outcomes, then all of a sudden they're Q two twenty five numbers up six and a half percent. Now on the same metric for the cat Mend shops, also five consecutive quarters of negative quarterly growth, then second quarter up six point nine percent. So look they're coming off pretty low bases, but they are improving. You're not seeing that on O Boz, but that's only a smaller part of the business. And that momentum they saw in the Court, remember that's the end of January, that does appear to be feeding into the.

Following quarter as well.

Following quarter as well.

So I do when I look at the numbers, Mike, you do see that Australia looks a little bit more resilient than New Zealand. A look across the whole half, sales in Australia up three point eight percent but down two percent in New Zealand, so as you're doing a little bit better when they talk about outlook, they say on the wholesale account, so business to business, they remain cautious on preseason commitments in a challenging market, and they are monitoring the impact of global uncertainty on consumer confidence, supply chains.

So I do when I look at the numbers, Mike, you do see that Australia looks a little bit more resilient than New Zealand. A look across the whole half, sales in Australia up three point eight percent but down two percent in New Zealand, so as you're doing a little bit better when they talk about outlook, they say on the wholesale account, so business to business, they remain cautious on preseason commitments in a challenging market, and they are monitoring the impact of global uncertainty on consumer confidence, supply chains.

And that's pretty much everyone, isn't it.

And that's pretty much everyone, isn't it.

That's all terariffs there, share price in that sort of retail euphoria. Back in twenty twenty one, share prices up at the dollar sixty seven. It's now at thirty five cents. So they've got to they have got some work to do. But the tide may be turning good, maybe.

That's all terariffs there, share price in that sort of retail euphoria. Back in twenty twenty one, share prices up at the dollar sixty seven. It's now at thirty five cents. So they've got to they have got some work to do. But the tide may be turning good, maybe.

Turning well, I hope. So inflation in Australia within the band, and then I think they're looking for a couple more cuts, aren't they before the end.

Turning well, I hope. So inflation in Australia within the band, and then I think they're looking for a couple more cuts, aren't they before the end.

Of the year.

Of the year.

Yeah, maybe, So this update on inflation, so still a few We've still got all this uncertainty micro around sort of tariffs and whether or not that's going to be inflationary and all of that sort of stuff. But we've got an update yesterday on inflation across the Tasmin hot on the heels of those unexpected tax cuts and the federal budget. Inflation running a little bit higher on the headline level than it's here in New Zealand. Remember we're sitting around two point two percent. Ossie come in a little bit higher at two point four, but they were expect from two point five. That is the lowest level or equal to the lowest level Australia for three years. The Reserve Bank they prefer what they call the trimmed Meme measure. That print is slightly higher at two point seven percent, but has also fallen from two point eight percent in January. As you said, they're both within the target range. A couple of issues. As I sort of noted, rent inflation over there, which is included in the CPI over there. Look, that's been quite high. It's now starting to ease, but still running at five and a half percent, so it's pretty high if you think about it. But the cost of building MIC has interesting, you know, it's been problematic here in New Zealand. Inflation on the cost of building now only running at one point six percent. Back in twenty twenty two it was up around twenty two percent. It's virtually disappeared, so that's pretty good.

Yeah, maybe, So this update on inflation, so still a few We've still got all this uncertainty micro around sort of tariffs and whether or not that's going to be inflationary and all of that sort of stuff. But we've got an update yesterday on inflation across the Tasmin hot on the heels of those unexpected tax cuts and the federal budget. Inflation running a little bit higher on the headline level than it's here in New Zealand. Remember we're sitting around two point two percent. Ossie come in a little bit higher at two point four, but they were expect from two point five. That is the lowest level or equal to the lowest level Australia for three years. The Reserve Bank they prefer what they call the trimmed Meme measure. That print is slightly higher at two point seven percent, but has also fallen from two point eight percent in January. As you said, they're both within the target range. A couple of issues. As I sort of noted, rent inflation over there, which is included in the CPI over there. Look, that's been quite high. It's now starting to ease, but still running at five and a half percent, so it's pretty high if you think about it. But the cost of building MIC has interesting, you know, it's been problematic here in New Zealand. Inflation on the cost of building now only running at one point six percent. Back in twenty twenty two it was up around twenty two percent. It's virtually disappeared, so that's pretty good.

RBA.

RBA.

They addressed the cash rate next week, as you said, probably nothing next week, but still yep, some cuts on the horizon.

They addressed the cash rate next week, as you said, probably nothing next week, but still yep, some cuts on the horizon.

There may be the end of the year numbers. Please.

There may be the end of the year numbers. Please.

So here's some interesting stuff. The dal Jones it's down, it's down a third of a percent forty two thousand, four hundred and forty seven. But the S and P five hundred and Nasdaq quite a bit weaker. The S and P five hundred down one percent five seven one eight, but the Nastik down almost two percent seventeen thy nine hundred and seventeen. And there's an issue there from video because China is talking about bringing in some slightly higher regulations on computer chips over there, and I'm just wondering whether this is a bit of they're finding a way to push back on the tariff talk. Forty one hundred up point three percent over night, eighty six eight nine, the Nicke up point sixty five percent three eight oh too seven shag Ho coms that barely moved three three six eight.

So here's some interesting stuff. The dal Jones it's down, it's down a third of a percent forty two thousand, four hundred and forty seven. But the S and P five hundred and Nasdaq quite a bit weaker. The S and P five hundred down one percent five seven one eight, but the Nastik down almost two percent seventeen thy nine hundred and seventeen. And there's an issue there from video because China is talking about bringing in some slightly higher regulations on computer chips over there, and I'm just wondering whether this is a bit of they're finding a way to push back on the tariff talk. Forty one hundred up point three percent over night, eighty six eight nine, the Nicke up point sixty five percent three eight oh too seven shag Ho coms that barely moved three three six eight.

The Aussie is gainedo.

The Aussie is gainedo.

Point seven one yesterday seven nine O eight. We had a good day on the internets fifty yesterday, Ryman up six percent, Fish and Pocal Healthcare up almost five percent. The Internet's fifty up one point two three percent. Twelve thousand, three hundred and thirty four.

Point seven one yesterday seven nine O eight. We had a good day on the internets fifty yesterday, Ryman up six percent, Fish and Pocal Healthcare up almost five percent. The Internet's fifty up one point two three percent. Twelve thousand, three hundred and thirty four.

We like that key.

We like that key.

We dollop point five seven four to ozh against the US point nine one O five ozziero point four three two to one, Euro point four to four five one pounds eighty six point four three Japanese and Gold three thousand and fifteen US dollars.

We dollop point five seven four to ozh against the US point nine one O five ozziero point four three two to one, Euro point four to four five one pounds eighty six point four three Japanese and Gold three thousand and fifteen US dollars.

And Brinker just creeping up a little bit. Mike, seventy four bucks.

And Brinker just creeping up a little bit. Mike, seventy four bucks.

On Brinkle Crude. I don't want to see that doing No, we do not, but I want to see you tomorrow. I appreciate your time. Andrew kellaher Jomiwealth dot Co dot m z Tsking, Steph Curry and Michelle Obama have launched a sports drink this morning, three flavors. It's going to be on Amazon select grocery stores. It's called Pleasi no added sugar, artificial sweetness, less sodium, full daily dose of vitamin C in there joins KB Bryant Lebron, James Logan, Paul and all the others are into sports drinks. The overall demand apparently for advanced hydration, that's what they call it, is very strong. Pleasi means fun in Creole. Michelle Obama, I mean Steph Curry. I get Michelle Obama?

On Brinkle Crude. I don't want to see that doing No, we do not, but I want to see you tomorrow. I appreciate your time. Andrew kellaher Jomiwealth dot Co dot m z Tsking, Steph Curry and Michelle Obama have launched a sports drink this morning, three flavors. It's going to be on Amazon select grocery stores. It's called Pleasi no added sugar, artificial sweetness, less sodium, full daily dose of vitamin C in there joins KB Bryant Lebron, James Logan, Paul and all the others are into sports drinks. The overall demand apparently for advanced hydration, that's what they call it, is very strong. Pleasi means fun in Creole. Michelle Obama, I mean Steph Curry. I get Michelle Obama?

Is she bored?

Is she bored?

Six twenty one Here at Newstalk zb.

Six twenty one Here at Newstalk zb.

Love Myke Cosky Breakfast Full Show podcast on iHeartRadio powered by News Talks at be mentioned.

Love Myke Cosky Breakfast Full Show podcast on iHeartRadio powered by News Talks at be mentioned.

Australia a moment ago, just before we leave, Jeens West has fallen over collapsed ninety stores. The reporter is reading yesterday, late yesterday. The stores here are not closing, they claim, but they are in Australia entered the administration back in January of twenty twenty rescue by a Hong Kong company. So they spent the last five years trying to revive it. Can't do it.

Australia a moment ago, just before we leave, Jeens West has fallen over collapsed ninety stores. The reporter is reading yesterday, late yesterday. The stores here are not closing, they claim, but they are in Australia entered the administration back in January of twenty twenty rescue by a Hong Kong company. So they spent the last five years trying to revive it. Can't do it.

All.

All.

Stock is expected to go on sale shortly. There's some six hundred workers ninety stores, six hundred workers. But as I say, as of yesterday out of Australia, Jeans West here remains open. Apparently six twenty five. Now, Carolyn, well, you know what happens this first of all their liars. There was nothing. There was nothing secret on the on the on the on the chat. Not true, But that's not stopping Carolyn this morning blaming you know who.

Stock is expected to go on sale shortly. There's some six hundred workers ninety stores, six hundred workers. But as I say, as of yesterday out of Australia, Jeans West here remains open. Apparently six twenty five. Now, Carolyn, well, you know what happens this first of all their liars. There was nothing. There was nothing secret on the on the on the on the chat. Not true, But that's not stopping Carolyn this morning blaming you know who.

If this story proves anything, it proves that Democrats and their propagandas in the mainstream media know how to fabricate, orchestrate and examinate a misinformation campaign quite well.

If this story proves anything, it proves that Democrats and their propagandas in the mainstream media know how to fabricate, orchestrate and examinate a misinformation campaign quite well.

Now the problem is hig Seth has been sprung and after the news I will give you exactly well, not all of that, but it has been If you want to go to the Atlantic, it's all been published. Is it detailed? Is its secret? Should it never have been on the platform?

Now the problem is hig Seth has been sprung and after the news I will give you exactly well, not all of that, but it has been If you want to go to the Atlantic, it's all been published. Is it detailed? Is its secret? Should it never have been on the platform?

Yes?

Yes?

Yes, yes, yes, yes and yes six twenty five.

Yes, yes, yes, yes and yes six twenty five.

Trending Now Quill Chemist ware House the home of big brand fighters.

Trending Now Quill Chemist ware House the home of big brand fighters.

Now from our Oberoted tourist hotspots files comes this morning the news that although popular the Pyramids of Geezer, they attracted about fifteen million people a year to go and have a GRP, they might not be as fun as they look on the brochure. This is travel vlogger and TikTok a phil Cow.

Now from our Oberoted tourist hotspots files comes this morning the news that although popular the Pyramids of Geezer, they attracted about fifteen million people a year to go and have a GRP, they might not be as fun as they look on the brochure. This is travel vlogger and TikTok a phil Cow.

What's the biggest disappointment of your life? Because for me it was visiting the Pyramids of Gezer, something we've all dreamed of doing, but in the end it crushed my fairy size. The Great Pyramid is one of the most special and mysterious buildings on the whole planet, but going inside it is quite literally hell, as you're force fed into a giant lump of stone with a load of other Sucker is just trying to tick something off their bucket. Lest whether the Pyramids were built by Aliens, the people of Atlantis, or most likely the ancient Egyptians. I wish they'd come back, tidy up and sought the place out, because the whole complex is an absolute nightmare. You're hassled by scammers the whole time. You're there, so much that you forget what a special place you're at.

What's the biggest disappointment of your life? Because for me it was visiting the Pyramids of Gezer, something we've all dreamed of doing, but in the end it crushed my fairy size. The Great Pyramid is one of the most special and mysterious buildings on the whole planet, but going inside it is quite literally hell, as you're force fed into a giant lump of stone with a load of other Sucker is just trying to tick something off their bucket. Lest whether the Pyramids were built by Aliens, the people of Atlantis, or most likely the ancient Egyptians. I wish they'd come back, tidy up and sought the place out, because the whole complex is an absolute nightmare. You're hassled by scammers the whole time. You're there, so much that you forget what a special place you're at.

Yeah no, no, no, that's fine for now.

Yeah no, no, no, that's fine for now.

No no, no, no, I'll go.

No no, no, no, I'll go.

His review has attracted ten million views, and that's before we get to the business. What that underground city you're following that story, the massive underground city hundreds of meters below the soil that was apparently built thousands of years ago. By the way, just quickly on Korea, yet another Korean update, the appeals court has reversed a lower court ruling that found the opposition leader, Guy called Legemung, not guilty of violating election law. He was handed a one year sentence suspended for a couple of years. If that had stood, he would not have been able to run for president. So they've overturned that. And that is completely separate what I told you yesterday about the president of the Prime Minister, which is also convoluted. And that's before I even get to Thailand and the vote of confidence and Japan and the movies, all of which I'll try and get to after the news.

His review has attracted ten million views, and that's before we get to the business. What that underground city you're following that story, the massive underground city hundreds of meters below the soil that was apparently built thousands of years ago. By the way, just quickly on Korea, yet another Korean update, the appeals court has reversed a lower court ruling that found the opposition leader, Guy called Legemung, not guilty of violating election law. He was handed a one year sentence suspended for a couple of years. If that had stood, he would not have been able to run for president. So they've overturned that. And that is completely separate what I told you yesterday about the president of the Prime Minister, which is also convoluted. And that's before I even get to Thailand and the vote of confidence and Japan and the movies, all of which I'll try and get to after the news.

The Mike hos Game, we've been safefold, Ben Gaging and Vital the Mic Hosking Breakfast with Veda, Retirement Communities, Life Your Way News, togs Head.

The Mike hos Game, we've been safefold, Ben Gaging and Vital the Mic Hosking Breakfast with Veda, Retirement Communities, Life Your Way News, togs Head.

B Arectormus leavit at the White House in a couple of moments to speak, by the way, holding a press conference at nine o'clock this morning. Meantime back home at twenty three minutes away from seven Joe's in Italy two. In a moment, popes back Homers, I'm sure you're well aware upon Terra. So they're on the road this week to talk to the stakeholders about the sale. It's consumer brands. It's either a trade sailor and IPO. If it sells, it involves names like Anchor and Mainland. Of course, as I mentioned earlier, comes off the back of the golden days and these big payarts for farmers. The Fontier boss, Myles hurls back with us, good morning.

B Arectormus leavit at the White House in a couple of moments to speak, by the way, holding a press conference at nine o'clock this morning. Meantime back home at twenty three minutes away from seven Joe's in Italy two. In a moment, popes back Homers, I'm sure you're well aware upon Terra. So they're on the road this week to talk to the stakeholders about the sale. It's consumer brands. It's either a trade sailor and IPO. If it sells, it involves names like Anchor and Mainland. Of course, as I mentioned earlier, comes off the back of the golden days and these big payarts for farmers. The Fontier boss, Myles hurls back with us, good morning.

Good morning.

Good morning.

You make on very broad issues. You must be congratulated. Does it feel at the moment as good as it looks?

You make on very broad issues. You must be congratulated. Does it feel at the moment as good as it looks?

Yeah, it doesn't mean. We're out on farm this week right across the country, both senior management and the board and out talking to farmers and you know that they recognize where we have come from and to be standing out there talking about their results for the six months. It does feel good. So yeah, good to be acknowledged in that way for across our team.

Yeah, it doesn't mean. We're out on farm this week right across the country, both senior management and the board and out talking to farmers and you know that they recognize where we have come from and to be standing out there talking about their results for the six months. It does feel good. So yeah, good to be acknowledged in that way for across our team.

And with the forecast two seasons, two good seasons coming and that's unusual. Is there anything weird out there that's happening or is this these just golden days?

And with the forecast two seasons, two good seasons coming and that's unusual. Is there anything weird out there that's happening or is this these just golden days?

Well, well, certainly nothing that hasn't been communicated already. I mean, you see that some of the geopolitics at play and what's going on in Ukraine and Gaza or An everywhere else around the world, and so these things are worrias are on the back of our minds. Is a city today, Supply demand is in pretty good shape, and so we take that in terms of the forecast we have for the season ahead. But we also need to be mindful and our farmers have been through this business a number of years and we'll be watching it closely at the same time we do right.

Well, well, certainly nothing that hasn't been communicated already. I mean, you see that some of the geopolitics at play and what's going on in Ukraine and Gaza or An everywhere else around the world, and so these things are worrias are on the back of our minds. Is a city today, Supply demand is in pretty good shape, and so we take that in terms of the forecast we have for the season ahead. But we also need to be mindful and our farmers have been through this business a number of years and we'll be watching it closely at the same time we do right.

So to the consumer side of the equation, how exercised and energized? Is this discussion among you a lot?

So to the consumer side of the equation, how exercised and energized? Is this discussion among you a lot?

Yes, there's a lot of clarification questions that are coming from the floor, as you'd expect. I mean, it is a big decision that ultimately our farms will make. So yeah, a lot, a lot of conversation, but it's really around the why. Let to understand the why and what does the cop look like into the future. So that's where the vast majority of questions are coming from. It's been a good conversation.

Yes, there's a lot of clarification questions that are coming from the floor, as you'd expect. I mean, it is a big decision that ultimately our farms will make. So yeah, a lot, a lot of conversation, but it's really around the why. Let to understand the why and what does the cop look like into the future. So that's where the vast majority of questions are coming from. It's been a good conversation.

Are you having to change minds?

Are you having to change minds?

No, not generally. I think people are walking in with just that that those questions around. You know where we going as a cooperative? We know we've come from. It's pretty clear we're in a pretty good space as we stand here. But what does the future look like. So a lot of conversations around that, but but not not not not changing minds per Sae, but just as clarification.

No, not generally. I think people are walking in with just that that those questions around. You know where we going as a cooperative? We know we've come from. It's pretty clear we're in a pretty good space as we stand here. But what does the future look like. So a lot of conversations around that, but but not not not not changing minds per Sae, but just as clarification.

Why don't you see a future of the consumer side of the equation.

Why don't you see a future of the consumer side of the equation.

We're like any good business and it starts with a good strategy, know and where you are good at and the returns for many years act you an ingredients business have been stellar right across the board. We have some ups and downs on the way that buy and large returns are very good. Food service of the past of the five, six, seven years have done very very well, and we continue to see growth in that in that business. When you look at the consumer business and I heard your opening this morning, one hundred and seventy three million at a headline level looks okay. But what people lose sight of it's three point four billion dollars of a farmer's capital tied up in that business. And so that the effectively roads value day by day because is not getting a return on capital that our farmers have ultimately are seeking. So we can invest that business that cash back into consut into ingredients, back into food service, where we believe you get higher returns.

We're like any good business and it starts with a good strategy, know and where you are good at and the returns for many years act you an ingredients business have been stellar right across the board. We have some ups and downs on the way that buy and large returns are very good. Food service of the past of the five, six, seven years have done very very well, and we continue to see growth in that in that business. When you look at the consumer business and I heard your opening this morning, one hundred and seventy three million at a headline level looks okay. But what people lose sight of it's three point four billion dollars of a farmer's capital tied up in that business. And so that the effectively roads value day by day because is not getting a return on capital that our farmers have ultimately are seeking. So we can invest that business that cash back into consut into ingredients, back into food service, where we believe you get higher returns.

Given that you're a good company, Why can't you do what you would assume somebody else would do if they bought it off you.

Given that you're a good company, Why can't you do what you would assume somebody else would do if they bought it off you.

Yeah, and look, you go to the supermarket here in New Zealand and we have a very good presence. You look at the chillis space here and even on the dry shelf, we have a very good presence. But it's sort of misunderstood that you get the international market, we don't have that sort of presence. You know, we have very strong category control in certain areas, but they're quite narrow categories. So if we wanted to really go in as scale and actually look at sort of spreading costs across a wider business, you'd probably need to go beyond theiry. You probably need to go a lot beyond New Zealandairy. You'd probably need to start thinking about confectionery and maybe chocolate and potentially back into ice cream to start to become a real consumer goods company in those markets. And we truly believe that's not part of her expertise. We've been year before we tried to get into some businesses that were outside of our expertise in international markets, and it took a number of years to try and turn that around. So you know, focusing on what you're good at, looking at the cash, can you recycle and the things you're good at, and we truly believe in those ingredients and food service, which is you know, by far better returning businesses over the long term. That for us is about value add and so that's where we're going to go.

Yeah, and look, you go to the supermarket here in New Zealand and we have a very good presence. You look at the chillis space here and even on the dry shelf, we have a very good presence. But it's sort of misunderstood that you get the international market, we don't have that sort of presence. You know, we have very strong category control in certain areas, but they're quite narrow categories. So if we wanted to really go in as scale and actually look at sort of spreading costs across a wider business, you'd probably need to go beyond theiry. You probably need to go a lot beyond New Zealandairy. You'd probably need to start thinking about confectionery and maybe chocolate and potentially back into ice cream to start to become a real consumer goods company in those markets. And we truly believe that's not part of her expertise. We've been year before we tried to get into some businesses that were outside of our expertise in international markets, and it took a number of years to try and turn that around. So you know, focusing on what you're good at, looking at the cash, can you recycle and the things you're good at, and we truly believe in those ingredients and food service, which is you know, by far better returning businesses over the long term. That for us is about value add and so that's where we're going to go.

And not just potentially a sale, but how you sell IPO or trade. Is that angsty as well.

And not just potentially a sale, but how you sell IPO or trade. Is that angsty as well.

Or not not angsty? But again, you know they want they want in clarity now which way we're going, but from ours, we need to try both those channels and see where the best returns come from. So yeah, we're going hard on that and we'd expect some update in the next few months out to our shareholders. But you're going hard on both those avenues. Both are very expensive to operate, but at the same time we think it's the right thing to do.

Or not not angsty? But again, you know they want they want in clarity now which way we're going, but from ours, we need to try both those channels and see where the best returns come from. So yeah, we're going hard on that and we'd expect some update in the next few months out to our shareholders. But you're going hard on both those avenues. Both are very expensive to operate, but at the same time we think it's the right thing to do.

Is there any value you're placing as a company and the IPO side of the equation about patriotism New Zealanders participating any of that or you're just looking for the dollar.

Is there any value you're placing as a company and the IPO side of the equation about patriotism New Zealanders participating any of that or you're just looking for the dollar.

No, certainly it does come into play. But at the same time, there has been a question from the floor around, you know, social license and all that sort of sort of thing. But you know it's no secret. And again you mentioned in your opening, you know, the team have done a pretty good job in getting New Zealand to where we are economically. We've done our fearsue of lifting as farmers, and so when it comes to you know, do we have a social license? I mean, it's not the questions I get in the weekends, most of they go to the price of butter and things that are outside of our control.

No, certainly it does come into play. But at the same time, there has been a question from the floor around, you know, social license and all that sort of sort of thing. But you know it's no secret. And again you mentioned in your opening, you know, the team have done a pretty good job in getting New Zealand to where we are economically. We've done our fearsue of lifting as farmers, and so when it comes to you know, do we have a social license? I mean, it's not the questions I get in the weekends, most of they go to the price of butter and things that are outside of our control.

So you know, I'd.

So you know, I'd.

Challenge it a bit. Our farmers haven't really had the recognition for what they do here in New Zealand.

Challenge it a bit. Our farmers haven't really had the recognition for what they do here in New Zealand.

Really is there an education? But just on the butter got me going, Can you honestly tell me that most people don't understand why they're paying too much for butter as much as they hate paying too much. I mean, there's a reason for it, and a good one, yeah.

Really is there an education? But just on the butter got me going, Can you honestly tell me that most people don't understand why they're paying too much for butter as much as they hate paying too much. I mean, there's a reason for it, and a good one, yeah.

There is. And we're dictated pretty much by the international market, and then the retailers of News and them will sit their own prices. And clearly there's a bit in there for us in terms of efficiency and manufacturing costs and margins and those things. But you know, it is misunderstood clearly, but you know, at the same time it's very hard to explain in a twenty second crossover. So you know, we try a best but it's a non easy conversation. It's for sure.

There is. And we're dictated pretty much by the international market, and then the retailers of News and them will sit their own prices. And clearly there's a bit in there for us in terms of efficiency and manufacturing costs and margins and those things. But you know, it is misunderstood clearly, but you know, at the same time it's very hard to explain in a twenty second crossover. So you know, we try a best but it's a non easy conversation. It's for sure.

When are we going to know whether you flick it and how you flick it?

When are we going to know whether you flick it and how you flick it?

Yeah, So the market guidance we've got out there at the moment, which we said in May last year we'd be twelve to eighteen month program and so you know we're still sticking to that and so but the team are running hard. We've got we've just had the non deal road shows throughout Asia, Asia, Pacuffolk that they've just concluded, and then we're expecting some non binding offers to come through on the trade sale side of things over the next month or so. So you know, sitting with the next few months, we'll be going to have some clarity and then the real week start.

Yeah, So the market guidance we've got out there at the moment, which we said in May last year we'd be twelve to eighteen month program and so you know we're still sticking to that and so but the team are running hard. We've got we've just had the non deal road shows throughout Asia, Asia, Pacuffolk that they've just concluded, and then we're expecting some non binding offers to come through on the trade sale side of things over the next month or so. So you know, sitting with the next few months, we'll be going to have some clarity and then the real week start.

Thanks all right, appreciate your time, Marrels, Miles Hurrible Fontira CEO and just quickly, the Fed Farmers a note yesterday that they're on board with the government's roma reform announced this week. Christ Bishop with us by the way. Later on in the program, difficult to get things done. The red tape and box sticking has become totally ridiculous. Reforms are on the right track, and so say all of us seventeen too.

Thanks all right, appreciate your time, Marrels, Miles Hurrible Fontira CEO and just quickly, the Fed Farmers a note yesterday that they're on board with the government's roma reform announced this week. Christ Bishop with us by the way. Later on in the program, difficult to get things done. The red tape and box sticking has become totally ridiculous. Reforms are on the right track, and so say all of us seventeen too.

The Mike Hosking Breakfast Full Show podcast on iHeart Radio cow it by News Talks.

The Mike Hosking Breakfast Full Show podcast on iHeart Radio cow it by News Talks.

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It be a question for you. Are you an active relaxer? And if you are, a New A Island is for you. It's an authentic Pacific experience where things are you know, basically the way life used to be. No traffic, no que, safe, warm. You'll experience plenty of experiences of lifetime on a daily basis. You can relax, you can walk, you can explore the multitude of tracks that take you to secret caves and chasms and pools. You can swim with the whales and the dolphins. You can snorkel, you can dive in the clearest waters in the Pacific. If you're into fishing, New A's got your covered. Matt Watson goes to New A loves New A. So the entire island basically is your resort. You'll feel that you've met the whole island by the time you leave your arrive as a visitor, and you'll leave as a friend. So your island paradise isn't even that far away. You'll be flying there direct from Auckland in just over three hours. New Ayiland dot com is where you're looking. Or see your travel agent obviously and get yourself to new A But New Ailand dot.

Com International correspondence with Ends and Eye Insurance Peace of mind for New Zealand business, we go, Joe.

Com International correspondence with Ends and Eye Insurance Peace of mind for New Zealand business, we go, Joe.

Morning, good money man, jeez side. It was to see him on the balcony the other day and the flowers and he waved and he gave the thumbs up and he jumped in the little feet and then he stopped. It was just just brilliant, isn't it. I take it everyone Italy's thrilled.

Morning, good money man, jeez side. It was to see him on the balcony the other day and the flowers and he waved and he gave the thumbs up and he jumped in the little feet and then he stopped. It was just just brilliant, isn't it. I take it everyone Italy's thrilled.

Well, it was a very strange experience. I'm sure you'll agree, and especially when he took a detour to visit his favorite church in Rome before going inside the Vatican. They're saying he's quite exhausted now, not surprisingly, and I don't think we're going to see him for a while.

Well, it was a very strange experience. I'm sure you'll agree, and especially when he took a detour to visit his favorite church in Rome before going inside the Vatican. They're saying he's quite exhausted now, not surprisingly, and I don't think we're going to see him for a while.

So what's the prognosis. Do we still get the daily ish updates or not.

So what's the prognosis. Do we still get the daily ish updates or not.

We're not getting as many updates now every couple of days, but it's very generic, and they're saying that he's continuing his therapy and he's seeing a minimal amount of people inside the Vatican. I think he's pretty much confined to his room and as you probably saw from those images, he's still moving around with a nasal tube of oxygen up his nose. There.

We're not getting as many updates now every couple of days, but it's very generic, and they're saying that he's continuing his therapy and he's seeing a minimal amount of people inside the Vatican. I think he's pretty much confined to his room and as you probably saw from those images, he's still moving around with a nasal tube of oxygen up his nose. There.

Exactly interesting. How did this just happen recently? It was just two days agos waxing Lyrica bout Charles and Camilla and they were going and it was still on and stuff that's now off.

Exactly interesting. How did this just happen recently? It was just two days agos waxing Lyrica bout Charles and Camilla and they were going and it was still on and stuff that's now off.

Yeah, I think that's another indication of him not doing well enough to see visitors, and they're concerned about exposure to infection, so they really want to keep him away from meeting anyone at all.

Yeah, I think that's another indication of him not doing well enough to see visitors, and they're concerned about exposure to infection, so they really want to keep him away from meeting anyone at all.

Okay, talk to me about this. This has happened asmart as I can work out in the last couple of hours. So Italy has handed this text demand to Meta and X and LinkedIn and all that. So it's a vat claim. Has this come out of nowhere? Do they represent all of Europe or just Italy? And what are these Meta and Co Going to do with it?

Okay, talk to me about this. This has happened asmart as I can work out in the last couple of hours. So Italy has handed this text demand to Meta and X and LinkedIn and all that. So it's a vat claim. Has this come out of nowhere? Do they represent all of Europe or just Italy? And what are these Meta and Co Going to do with it?

Well, from what I'm seeing, this is a decision that's come been coming for a while. These tax demands affect Meta X and LinkedIn an unprecedented VAT claim. It seems too it could have repercussions across the European Union. I'm only seeing Italy at the moment, and I think this is incredibly risky, Mike, because Italy has been negotiating with Elon Musk, with SpaceX, the possibility of, you know, a billion dollar a billion euro deal to do a deal with the entrepreneur, and also in the light of the possibility of Trump tariffs exactly, this seems incredibly provocative.

Well, from what I'm seeing, this is a decision that's come been coming for a while. These tax demands affect Meta X and LinkedIn an unprecedented VAT claim. It seems too it could have repercussions across the European Union. I'm only seeing Italy at the moment, and I think this is incredibly risky, Mike, because Italy has been negotiating with Elon Musk, with SpaceX, the possibility of, you know, a billion dollar a billion euro deal to do a deal with the entrepreneur, and also in the light of the possibility of Trump tariffs exactly, this seems incredibly provocative.

Yeah, I would have thought so too. Speaking of which, Maloney is off to another one of these gab fists tomorrow. So where are you guys sitting on peacekeeping forces? What do we know about the peace deal? Are you in? Are you not? Where are we at?

Yeah, I would have thought so too. Speaking of which, Maloney is off to another one of these gab fists tomorrow. So where are you guys sitting on peacekeeping forces? What do we know about the peace deal? Are you in? Are you not? Where are we at?

Well, you know, she's making all the right noises, but as we've said before, she's straddling this sort of situation where she wants to be friends with Donald Trump and yet be part of this coalition in Europe. They Italy as opposed to participation in a peacekeeping force, but she wants obviously wants peace in Ukraine as well, So she's struggling, I think to keep her status as a major EU powerbroker at this point.

Well, you know, she's making all the right noises, but as we've said before, she's straddling this sort of situation where she wants to be friends with Donald Trump and yet be part of this coalition in Europe. They Italy as opposed to participation in a peacekeeping force, but she wants obviously wants peace in Ukraine as well, So she's struggling, I think to keep her status as a major EU powerbroker at this point.

And how is this this cockup on social media going down in Europe in terms of bailing you guys out and you're all a bunch of losers and the Americans hate you anyway, I mean, how's that gone down?

And how is this this cockup on social media going down in Europe in terms of bailing you guys out and you're all a bunch of losers and the Americans hate you anyway, I mean, how's that gone down?

Well, I'm surprised that the Foreign Minister Antonio Taiani actually hit back very strongly at the Vice President Jed Evans, particularly regarding the merchant vessels in that area of the world, in the Middle East, in the Red Sea, saying, you know, we're not being bound out by the US. We have our own ships in that region and you don't really know what you're talking about.

Well, I'm surprised that the Foreign Minister Antonio Taiani actually hit back very strongly at the Vice President Jed Evans, particularly regarding the merchant vessels in that area of the world, in the Middle East, in the Red Sea, saying, you know, we're not being bound out by the US. We have our own ships in that region and you don't really know what you're talking about.

Interesting, all right, Joe ketchup nickslus I appreciate it as a wis jem McKenna in Europe. Back to the White House where Miss Libbittt's going for it.

Interesting, all right, Joe ketchup nickslus I appreciate it as a wis jem McKenna in Europe. Back to the White House where Miss Libbittt's going for it.

There's arguably no one in the media who loves manufacturing and pushing hoaxes more than Jeffrey Goldberg. Goldberg is an anti Trump hater. He is a registered Democrat. Goldberg's wife is also a registered Democrat and a big Democrat donor who used to work under who Hillary Clinton.

There's arguably no one in the media who loves manufacturing and pushing hoaxes more than Jeffrey Goldberg. Goldberg is an anti Trump hater. He is a registered Democrat. Goldberg's wife is also a registered Democrat and a big Democrat donor who used to work under who Hillary Clinton.

This is the same.

This is the same.

Jeffrey Goldberg who infamously lied about weapons of mass destruction to get us into the Iraq War, which costs trillions of dollars and thousands of American soldiers.

Jeffrey Goldberg who infamously lied about weapons of mass destruction to get us into the Iraq War, which costs trillions of dollars and thousands of American soldiers.

Just let me read you one of the messages from hig Seth. Were they war plans or not? They said yesterday no war plans message sent eleven forty four am Eastern Time. Whether it's favorable just confirmed w slash sent com we are go for mission launch. Sounds relatively secret to me. Sounds like a war plan. Call me old fashion, but that sounds like a war plan. Nine away from seven.

Just let me read you one of the messages from hig Seth. Were they war plans or not? They said yesterday no war plans message sent eleven forty four am Eastern Time. Whether it's favorable just confirmed w slash sent com we are go for mission launch. Sounds relatively secret to me. Sounds like a war plan. Call me old fashion, but that sounds like a war plan. Nine away from seven.

The Mike Hosking breakfast with al Vida Retirement Communities News togs had been.

The Mike Hosking breakfast with al Vida Retirement Communities News togs had been.

The fascinating report. Yesterday. The Pope was so ill. The doctors were going, I don't think we can do anything more, and he had delegated all of his health responsibilities to a woman called Masamilianistra Petty, his personal health care assistant. They said, what do you want to do? What would the Pope want to do? And she goes try everything. We won't give up, That's what we all thought. No one gave up, so they were thinking about until she came to the party. Mike, I haven't seen anything official regarding liam But do you think the fact that they haven't come out and said know that there's truth to it?

The fascinating report. Yesterday. The Pope was so ill. The doctors were going, I don't think we can do anything more, and he had delegated all of his health responsibilities to a woman called Masamilianistra Petty, his personal health care assistant. They said, what do you want to do? What would the Pope want to do? And she goes try everything. We won't give up, That's what we all thought. No one gave up, so they were thinking about until she came to the party. Mike, I haven't seen anything official regarding liam But do you think the fact that they haven't come out and said know that there's truth to it?

Oh?

Oh?

That I know? There is no question there's truth to it. Talk to a couple of people over night who would know, and there is sadly no question that there is truth to it. Mike. I think most people understand why. But this goes back to Myles Hurrale costs so much, but why should we have to pay an international price index when produced in our own backyard? Anthony, I'm sorry you had to ask that question. Who would you so? But's nine bucks a block and you don't want to pay that? Who's paying the difference? Do you want the government to write that check to you?

That I know? There is no question there's truth to it. Talk to a couple of people over night who would know, and there is sadly no question that there is truth to it. Mike. I think most people understand why. But this goes back to Myles Hurrale costs so much, but why should we have to pay an international price index when produced in our own backyard? Anthony, I'm sorry you had to ask that question. Who would you so? But's nine bucks a block and you don't want to pay that? Who's paying the difference? Do you want the government to write that check to you?

So?

So?

What should it be? Two dollars fifty and the government pays the rest? Every other taxpayer pays. It's like the car business with evs? Do you want other people to pay for your basic groceries? When you grow and produce stuff here and sell it on international markets, you pay the international price far away from seven.

What should it be? Two dollars fifty and the government pays the rest? Every other taxpayer pays. It's like the car business with evs? Do you want other people to pay for your basic groceries? When you grow and produce stuff here and sell it on international markets, you pay the international price far away from seven.

All the ins and the outs.

All the ins and the outs.

It's the fizz with business favor take your business productivity to the next level.

It's the fizz with business favor take your business productivity to the next level.

Now.

Now.

Unfortunately, we got insight into our creative sector this morning. It's not great arts, heritage, sport, broadcasting, all that sort of stuff. The stats come to us from the Ministry of Culture and Heritage. The sector contributed seventeen and a half billion dollars to our economy in the year to March of last year. So seventeen and a half billion. That's a lot of money. It's not bad. It creates to four point two percent of GDP. But sector employees just to tick under one hundred and eighteen thousand, they think there could be another eight thousand, seven hundred jobs to be added by twenty thirty doll I suspect that's guesswork. The media dragging things down a bit. Negative GDP growth the media, good old media. Negative GDP growth one point nine percent, and employment went down for fairly obvious reasons by zero point nine percent. So ups and overs, unders neighbors or whatever they say. Is that what they say, unders and neighbors, good times and bads to won't be around the time Rolling tone gathers, No moss, I don't know a couple of laws to deal with another call from another bank to sort out this capital setting review. Will work you through all of that, Sir Bob Geldoff in the studio after right for you as.

Unfortunately, we got insight into our creative sector this morning. It's not great arts, heritage, sport, broadcasting, all that sort of stuff. The stats come to us from the Ministry of Culture and Heritage. The sector contributed seventeen and a half billion dollars to our economy in the year to March of last year. So seventeen and a half billion. That's a lot of money. It's not bad. It creates to four point two percent of GDP. But sector employees just to tick under one hundred and eighteen thousand, they think there could be another eight thousand, seven hundred jobs to be added by twenty thirty doll I suspect that's guesswork. The media dragging things down a bit. Negative GDP growth the media, good old media. Negative GDP growth one point nine percent, and employment went down for fairly obvious reasons by zero point nine percent. So ups and overs, unders neighbors or whatever they say. Is that what they say, unders and neighbors, good times and bads to won't be around the time Rolling tone gathers, No moss, I don't know a couple of laws to deal with another call from another bank to sort out this capital setting review. Will work you through all of that, Sir Bob Geldoff in the studio after right for you as.

Well, news opinion and every in between.

Well, news opinion and every in between.

The Mike Hosking break best with the range Rover, the la designed to intrigue and use togs dead.

The Mike Hosking break best with the range Rover, the la designed to intrigue and use togs dead.

Be seven past seven to westpax wide into the capital settings debate. In simple terms, Adrian or required banks to put aside very large amounts of money for a rainy day. The retail banks and the Finance Minister argue it's more than they need and by doing that it costs a lot more to do business in this country. Anyway, Massi University banking expert Claire Matthews back with us clear, good morning more Ndomike, this has a feel of it sort of being sorted out by itself. I mean, Nicola will as seems to be aligned with the retail banks. The retail banks will agree with each other, Adrian, all is gone as this is coming to an end.

Be seven past seven to westpax wide into the capital settings debate. In simple terms, Adrian or required banks to put aside very large amounts of money for a rainy day. The retail banks and the Finance Minister argue it's more than they need and by doing that it costs a lot more to do business in this country. Anyway, Massi University banking expert Claire Matthews back with us clear, good morning more Ndomike, this has a feel of it sort of being sorted out by itself. I mean, Nicola will as seems to be aligned with the retail banks. The retail banks will agree with each other, Adrian, all is gone as this is coming to an end.

Ish Well, I guess it just depends who the new governor is and whether they share that same view. One of the concerns I think there is is it seems really logical based on the way the conversations going, that capital level should reduce, and there is certainly an argument that Adrian or in terms of the capital level that he put it, it was potentially too high, But that doesn't necessarily mean we should go back to exactly what they were, and that maybe it was a somewhere in between that we need to ender and there needs to be that careful Abalyasis got to remember that capital is there for a purpose. It's not just there because it looks good. It's there to make the bank safer, and we've got to make sure.

Ish Well, I guess it just depends who the new governor is and whether they share that same view. One of the concerns I think there is is it seems really logical based on the way the conversations going, that capital level should reduce, and there is certainly an argument that Adrian or in terms of the capital level that he put it, it was potentially too high, But that doesn't necessarily mean we should go back to exactly what they were, and that maybe it was a somewhere in between that we need to ender and there needs to be that careful Abalyasis got to remember that capital is there for a purpose. It's not just there because it looks good. It's there to make the bank safer, and we've got to make sure.

That they've got the right I manage give.

That they've got the right I manage give.

But it's like insuring yourself. Do you ensure yourself for a million dollars or fifty million dollars? And that's what it boils down to, wasn't it.

But it's like insuring yourself. Do you ensure yourself for a million dollars or fifty million dollars? And that's what it boils down to, wasn't it.

Well, yes, it's yes and no. We've got to remember that when you're talking about the banks, you're talking about everybody's money, and if a bank fails and there's not enough money to pay run out, that would have a huge impact on individuals personally, but also for the economy. So we do need to be sure that the banks have got enough capital to make sure that they are able to operate effectively.

Well, yes, it's yes and no. We've got to remember that when you're talking about the banks, you're talking about everybody's money, and if a bank fails and there's not enough money to pay run out, that would have a huge impact on individuals personally, but also for the economy. So we do need to be sure that the banks have got enough capital to make sure that they are able to operate effectively.

My argument has always been, and I'm as simple ton I know, but nevertheless, we've seen the GFC, we've seen COVID, and we've seen the banks and they literally bathe in money. There's no chance they're going to fall over.

My argument has always been, and I'm as simple ton I know, but nevertheless, we've seen the GFC, we've seen COVID, and we've seen the banks and they literally bathe in money. There's no chance they're going to fall over.

Oh that's a very dangerous thought to have banks. We've been for in New Zealand that we have not had a bank fail for some time, but we actually have to go back to nineteen the early nineteen nineties when the Baby Zellan did have significant problems and did have to effectively be bail out. So it's not that long ago. And if you look at the US banks have failed more recently. Banks do fail, and just because they haven't doesn't mean they're not going through this year.

Oh that's a very dangerous thought to have banks. We've been for in New Zealand that we have not had a bank fail for some time, but we actually have to go back to nineteen the early nineteen nineties when the Baby Zellan did have significant problems and did have to effectively be bail out. So it's not that long ago. And if you look at the US banks have failed more recently. Banks do fail, and just because they haven't doesn't mean they're not going through this year.

What I am interested in at the moment is Nichola willis sniffing around as Finance Minister. Can she do what she seems to want to do while still allowing the RB to remain independent?

What I am interested in at the moment is Nichola willis sniffing around as Finance Minister. Can she do what she seems to want to do while still allowing the RB to remain independent?

But it's a really good question. Effectively, she can't give any official ruling, she can't say this is what you must do. But obviously she's got the ability to have a significant input into the appointment of the new governor, and is she going to recommend somebody who takes a significantly different view from what she and the government are looking at. So indirectly, yes.

But it's a really good question. Effectively, she can't give any official ruling, she can't say this is what you must do. But obviously she's got the ability to have a significant input into the appointment of the new governor, and is she going to recommend somebody who takes a significantly different view from what she and the government are looking at. So indirectly, yes.

She's likely to get what she was insight clear. Appreciate your time, as always claim Matthews Messy University Banking ten minutes past seven score you Law for Courts and Sentencing. So the Sentencing Reform Amendment Bill that passed its third reading yesterday, this is the one that kept the discount. Judges can apply repeat discounts for showing remorse. That's gone. Law Association VP. Juli Inking Cage back with this, Julian morning, Good morning Mike. Now you submitted did they listen to you?

She's likely to get what she was insight clear. Appreciate your time, as always claim Matthews Messy University Banking ten minutes past seven score you Law for Courts and Sentencing. So the Sentencing Reform Amendment Bill that passed its third reading yesterday, this is the one that kept the discount. Judges can apply repeat discounts for showing remorse. That's gone. Law Association VP. Juli Inking Cage back with this, Julian morning, Good morning Mike. Now you submitted did they listen to you?

This is a wonderful example of demin action. I think there are a lot of people who met it at the slightly stage pressing very similar concerns, and they seem to have been reflected in the changes that took place after that select committee stage. One of the ideas was this forty percent cap which was on all sentencing reductions, which was an important part of that new act, and that has been softened and it has been now allowing four examples, specifically for examples where people provide information which prevents further serious crime taking place, and that's seen as a recognized exception.