The world is always changing, with global events and new developments shifting the tides. 

Progress is being made in the peace talks between the US and Iran, which means oil prices are slowly returning to normal. 

And the AI market is continuing to explode – with new companies, applications, and technology emerging seemingly constantly. 

CNN’s Richard Quest, host of Quest Means Business, joined Mike Hosking to share his perspective on the fascinating world in which we currently live. 

LISTEN ABOVE 

The world is always changing, with global events and new developments shifting the tides.&nbsp;
Progress is being made in the peace talks between the US and Iran, which means oil prices are slowly returning to normal.&nbsp;
And the AI market is continuing to explode – with new companies, applications, and technology emerging seemingly constantly.&nbsp;
CNN’s Richard Quest, host of Quest Means Business, joined Mike Hosking to share his perspective on the fascinating world in which we currently live.&nbsp;
LISTEN ABOVE&nbsp;

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, 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 Quest: CNN Anchor and host of Quest Means Business on the state of the world, AI, oil prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3251f6a9-0835-48da-b697-b47a01701711/transcript

Nicola Waldren has started, I assume, as she means to go on, with a shot across the bow at the Government.

She is the new Restaurant Association head - her appeal is the one you thought it might be. She wants the Government to listen.

She relitigates Covid. Lockdowns and slow border openings. The rates, the insurance, domestic consumer sentiment.

She wants whoever wins the election to listen. I have sympathy for her.

Good news: 1) the lockdown era is over.

2) The insurance “cost plus” rating era isn't over sadly, but things like rate caps may help.

And 3) as for consumer sentiment, a couple of things. Firstly, sentiment is fine. Not right now, but pre-Iran we were off to the races, and we will be off to the races again.

Iran was not our fault, was not the Government's fault, it was Trump’s, and all we can do is suck it up.

But those Q1 GDP numbers, along with their associated previous quarter revisions, showed this country was growing nicely. Westpac updated their data last week – they have increased growth for the rest of the year.

So that should take care of that.

But can I, as a restaurant goer, make an appeal to the Association, and indeed the industry?

This is a two-way street. There is too much of the industry that, to put it bluntly, are useless.

We are over hospo’d – every immigrant and their mum opens a takeaway or café or restaurant. They may or may not know what they are doing.

Too many employ imbeciles who are not into service. Too many have nonsense hours. Too many offer inferior products at first class prices.

We have an industry of two parts: well established, successful operators who get it, deliver it, and prosper as a result, and we have fly-by-nighters in a boom bust cycle going nowhere.

The reason liquidations are so high in hospo is because most of them never stood a chance, because they didn’t deserve to.

Ask for all the government help you want, but help yourself first.

Single out your rock stars and tell the others to replicate, or at least have a good crack at replication. Want for more, aim higher, work harder, be more determined.

We have enough stars to know it's possible – the precedent is already there.

Nicola Waldren has started, I assume, as she means to go on, with a shot across the bow at the Government.
She is the new Restaurant Association head - her appeal is the one you thought it might be. She wants the Government to listen.
She relitigates Covid. Lockdowns and slow border openings. The rates, the insurance, domestic consumer sentiment.
She wants whoever wins the election to listen. I have sympathy for her.
Good news: 1) the lockdown era is over.
2) The insurance “cost plus” rating era isn't over sadly, but things like rate caps may help.
And 3) as for consumer sentiment, a couple of things. Firstly, sentiment is fine. Not right now, but pre-Iran we were off to the races, and we will be off to the races again.
Iran was not our fault, was not the Government's fault, it was Trump’s, and all we can do is suck it up.
But those Q1 GDP numbers, along with their associated previous quarter revisions, showed this country was growing nicely. Westpac updated their data last week – they have increased growth for the rest of the year.
So that should take care of that.
But can I, as a restaurant goer, make an appeal to the Association, and indeed the industry?
This is a two-way street. There is too much of the industry that, to put it bluntly, are useless.
We are over hospo’d – every immigrant and their mum opens a takeaway or café or restaurant. They may or may not know what they are doing.
Too many employ imbeciles who are not into service. Too many have nonsense hours. Too many offer inferior products at first class prices.
We have an industry of two parts: well established, successful operators who get it, deliver it, and prosper as a result, and we have fly-by-nighters in a boom bust cycle going nowhere.
The reason liquidations are so high in hospo is because most of them never stood a chance, because they didn’t deserve to.
Ask for all the government help you want, but help yourself first.
Single out your rock stars and tell the others to replicate, or at least have a good crack at replication. Want for more, aim higher, work harder, be more determined.
We have enough stars to know it's possible – the precedent is already there.

Mike's Minute: My appeal to the restaurant industry

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a32135dd-310f-43af-9381-b47a0179e415/transcript

A shakeup in the auto industry across the ditch could see Peugeots disappear from the New Zealand market.  

Their Australian importer, Inchcape, will stop selling the brand from 2027 after sales plunged 87% from their 2005 peak. 

The move comes as pressure from Chinese brands mounts – with more than 220,000 sales in 2025 alone. 

Imported Motor Vehicle Industry Association CEO Greig Epps told Mike Hosking there’s commonality across distributers and businesses on both the New Zealand and Australian side of things.  

And, he says, we’re aligning ourselves with Australia in terms of our regulatory settings, which will make the market commonplace across both countries. 

LISTEN ABOVE 

A shakeup in the auto industry across the ditch could see Peugeots disappear from the New Zealand market. &nbsp;
Their Australian importer, Inchcape, will stop selling the brand from 2027 after sales plunged 87% from their 2005 peak.&nbsp;
The move comes as pressure from Chinese brands mounts – with more than 220,000 sales in 2025 alone.&nbsp;
Imported Motor Vehicle Industry Association CEO Greig Epps told Mike Hosking there’s commonality across distributers and businesses on both the New Zealand and Australian side of things. &nbsp;
And, he says, we’re aligning ourselves with Australia in terms of our regulatory settings, which will make the market commonplace across both countries.&nbsp;
LISTEN ABOVE&nbsp;

Greig Epps: Imported Motor Vehicle Industry Association CEO on Peugeot's Australian importer suspending sales amid pressure from Chinese rivals

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/79fca9cb-db30-45c9-856f-b47a01692c78/transcript

On the Mike Hosking Breakfast Full Show Podcast for Thursday 2nd of July, Finance Minister Nicola Willis responds to the latest IMF report, which seems to have good economic news for us. 

L.A.B are launching their own festival in a sector where most are losing money or shutting down. So, do they have the magic? 

CNN anchor Richard Quest talks everything from oil, to the war in the Middle East, to AI, and the fascinating world we live in right now. 

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 

LISTEN ABOVE 

On the Mike Hosking Breakfast Full Show Podcast for Thursday 2nd of July, <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/nicola-willis-finance-minister-on-the-international-monetary-funds-report-card-for-new-zealand/">Finance Minister Nicola Willis</a> responds to the latest IMF report, which seems to have good economic news for us.&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/joel-shadbolt-lab-frontman-on-the-launch-of-their-new-festival-8th-wonder-in-january-next-year/">L.A.B are launching their own festival</a> in a sector where most are losing money or shutting down. So, do they have the magic?&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/richard-quest-cnn-anchor-and-host-of-quest-means-business-on-the-state-of-the-world-ai-oil-prices/">CNN anchor Richard Quest</a> talks everything from oil, to the war in the Middle East, to AI, and the fascinating world we live in right now.&nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.&nbsp;
LISTEN ABOVE&nbsp;

Full Show Podcast: 02 July 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9d93b19f-80fb-4f0c-bd12-b47a015d66db/transcript

Richard Quest: CNN Anchor and host of Quest Means Business on the state of the world, AI, oil prices

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