Pressure is increasing on Joe Biden to consider dropping his bid for a second Presidential term.

The sitting President and presumptive Democratic candidate remains committed to the race.

It follows a poor debate performance last week, in which Biden lost his way on several occasions.

US correspondent Richard Arnold told Mike Hosking that Biden apparently annoyed some Governors when he met with them yesterday.

He says one asked Joe Biden about his health, to which he replied, 'I'm fine, it's just my brain.'

LISTEN ABOVE

Pressure is increasing on Joe Biden to consider dropping his bid for a second Presidential term. 
The sitting President and presumptive Democratic candidate remains committed to the race. 
It follows a poor debate performance last week, in which Biden lost his way on several occasions. 
US correspondent Richard Arnold told Mike Hosking that Biden apparently annoyed some Governors when he met with them yesterday. 
He says one asked Joe Biden about his health, to which he replied, 'I'm fine, it's just my brain.' 
LISTEN ABOVE

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Richard Arnold: US Correspondent on the mounting pressure on Joe Biden to drop his bid for president

Is the insurance market the last to get a good going over from the regulatory authorities?

Having become a country that loves a good market study, we've had petrol, banks, supermarkets – so surely insurance, and while you are at it, Air New Zealand, would be a good next stopping point.

Australia isn't overly happy with the way their insurance industry works either, and the regulator last week hinted inspections of some sort were coming.

Like banking, a lot of the insurance game there is run by the same people as it is here. And like the banks, they have the same line up of excuses as to why they are so profitable.

IAG, for example, made a profit in the last year of about $1 billion, and they did it off the back of rising premiums. It was an 8% rise in profit and the dividend was 27 cents.

Premiums are up because of climate change. Payouts, risk, and reinsurance are the usual excuses.

Don't get me wrong, we need profitable and stable companies, but in this cost of living crisis, councils and insurance companies seem to be the last ones standing when it comes to passing costs on at rates a mile higher than inflation.

IAG say we are starting to see inflation easing. Excuse me? It's eased. It's in the band. Central banks all over the world have or are about to cut rates based on the fact inflation is under control.

And not only have premiums gone up, they’ve flagged they will be up another 9 percent next year.

Reinsurance is part of their excuse. Here's a fun fact one of the biggest reinsurers in the world is Swiss Re. Guess how much their profit is up? 17%. To what, I hear you ask, a bit under $4 billion.

So where is the line?

A strong and profitable company versus taking the mick and simply passing on costs because they can and seeing massive profits with big dividends while still milking the old idea that everything is bad, storms rage, and payouts drain resources.

Now if that isn't a market study waiting to happen, I don’t know what is.

Is the insurance market the last to get a good going over from the regulatory authorities? 
Having become a country that loves a good market study, we've had petrol, banks, supermarkets – so surely insurance, and while you are at it, Air New Zealand, would be a good next stopping point. 
Australia isn't overly happy with the way their insurance industry works either, and the regulator last week hinted inspections of some sort were coming. 
Like banking, a lot of the insurance game there is run by the same people as it is here. And like the banks, they have the same line up of excuses as to why they are so profitable. 
IAG, for example, made a profit in the last year of about $1 billion, and they did it off the back of rising premiums. It was an 8% rise in profit and the dividend was 27 cents. 
Premiums are up because of climate change. Payouts, risk, and reinsurance are the usual excuses. 
Don't get me wrong, we need profitable and stable companies, but in this cost of living crisis, councils and insurance companies seem to be the last ones standing when it comes to passing costs on at rates a mile higher than inflation. 
IAG say we are starting to see inflation easing. Excuse me? It's eased. It's in the band. Central banks all over the world have or are about to cut rates based on the fact inflation is under control. 
And not only have premiums gone up, they’ve flagged they will be up another 9 percent next year. 
Reinsurance is part of their excuse. Here's a fun fact one of the biggest reinsurers in the world is Swiss Re. Guess how much their profit is up? 17%. To what, I hear you ask, a bit under $4 billion. 
So where is the line? 
A strong and profitable company versus taking the mick and simply passing on costs because they can and seeing massive profits with big dividends while still milking the old idea that everything is bad, storms rage, and payouts drain resources. 
Now if that isn't a market study waiting to happen, I don’t know what is.

Mike's Minute: We must question insurance companies

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.



Ginny Andersen's Police Numbers: 2/10

Bust of the week. Numbers don't lie, Ginny. Was it careless? Was it Machiavellian? Or was it just lazy?



The Police: 8/10

When you arrest every single Comanchero, now that is policing power.



The Greens: 2/10

What a s***show. Darleen Tana takes them to court, so they cancel a meeting. God help us if they ever end up actually having to make a decision about anything important.



Boeing: 2/10

Making two people go to space for a week and then leaving them there till next year. Great form.



Labour and Tax: 2/10

If that really is their plan for 2026, we can probably reliably place our bets now.



Kirstie Allsopp: 8/10.

My hero of the week, reminding us trust is good. Being old-fashioned isn't to be sniffed at and standing your ground is to be admired.



Shaun Johnson: 8/10

Weird night, given the rain, the loss, and the season. But the crowd showed up and there was no shortage of love and admiration.



LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. 
 
Ginny Andersen's Police Numbers: 2/10 
Bust of the week. Numbers don't lie, Ginny. Was it careless? Was it Machiavellian? Or was it just lazy? 
 
The Police: 8/10 
When you arrest every single Comanchero, now that is policing power. 
 
The Greens: 2/10 
What a s***show. Darleen Tana takes them to court, so they cancel a meeting. God help us if they ever end up actually having to make a decision about anything important. 
 
Boeing: 2/10 
Making two people go to space for a week and then leaving them there till next year. Great form. 
 
Labour and Tax: 2/10 
If that really is their plan for 2026, we can probably reliably place our bets now. 
 
Kirstie Allsopp: 8/10. 
My hero of the week, reminding us trust is good. Being old-fashioned isn't to be sniffed at and standing your ground is to be admired. 
 
Shaun Johnson: 8/10 
Weird night, given the rain, the loss, and the season. But the crowd showed up and there was no shortage of love and admiration. 
 
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW

Mark the Week: Ginny Andersen's police numbers were the bust of the week

ANZ's latest report shows businesses are feeling more optimistic for the future than they have in years. 

The monthly update shows business confidence is at its highest in a decade, rising 23 points to 51.

Expected activity jumped to a seven-year high, increasing 21 points to 37.

However, actual business activity rose only one point to negative 21.

Chief Economist Sharon Zollner says many businesses are seeing the light at the end of the tunnel.

She says we'll have to wait and see if this hope actually impacts business decisions.

LISTEN ABOVE

ANZ's latest report shows businesses are feeling more optimistic for the future than they have in years.  
The monthly update shows business confidence is at its highest in a decade, rising 23 points to 51. 
Expected activity jumped to a seven-year high, increasing 21 points to 37. 
However, actual business activity rose only one point to negative 21. 
Chief Economist Sharon Zollner says many businesses are seeing the light at the end of the tunnel. 
She says we'll have to wait and see if this hope actually impacts business decisions. 
LISTEN ABOVE

Richard Arnold: US Correspondent on the mounting pressure on Joe Biden to drop his bid for president

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