Larry Williams Drive

Homeowners have been able to breathe a sigh of relief following the Reserve Bank's decision to cut the OCR. The cash rate was cut by 25 basis points after their August meeting, down to 5.25 percent.  HSBC chief economist Paul Bloxham explains that the RBNZ had to meet expectations to keep the economy in check. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's green shoots returning to the housing market, according to the Real Estate Institute. REINZ data shows the volume of sales rose 14.5 percent year-on-year and nearly 20 percent month-on-month. Infometrics Principal Economist Brad Olsen unpacks what this news means following the recent OCR cut. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Phil O'Reilly from Iron Duke Partners and Auckland Councillor Richard Hills joined in on a discussion about the following issues of the day - and more! Darleen Tana has maintained that they're not leaving Parliament and they'll fight back against the Green Party's attempts to oust her. Do we think the Greens will take the risk and use the waka-jumping law? The Commerce Commission has made a list of proposals to improve competition in the banking sector - and Finance Minister Nicola Willis aims to take them all on board. Do we think this will work? The Democratic National Convention has kicked off - will the Kamala Harris hype last all the way until November? LISTEN ABOVESee omnystudio.com/listener for privacy information.

Mercury Energy has lifted its net profit by 159 percent in the June year to $290 million. The company’s earnings before interest, tax, depreciation, amortisation and financial instruments came to $877m, up 4 percent on the previous year. Mercury CEO Vince Hawksworth has pushed back against accusations of profiteering from Minister Shane Jones. "If you look at today's result, and yes, it was a very good result - on the back of quite a bit of new investment in our business." LISTEN ABOVESee omnystudio.com/listener for privacy information.

For once, we have a Commerce Commission study that isn’t going nowhere. Nicola Willis says she's going to do what the Commerce Commission has recommended in the banking study out today - and she'll do all 14 recommendations.This is a little surprise, isn’t it? Because we have got very used to these studies coming out and pretty much nothing of any substance being done. We've had the petrol study, the supermarket study, the construction industry study - I was a little cynical about the banking study, but I was wrong. And what's even more surprising is that it's a centre-right Government - who are often accused of cosying up to big business - who are prepared to do the ballsy thing there. Doesn't that make a nice change? Now as to whether it’s actually going to make a difference - the jury is out big time. I mean, I love the idea of capitalising Kiwibank, it'll most likely improve the bank, it'll give Kiwi investors another productive asset to put their money into - it deserves to be beefed up. And for those re

On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 20 August 2024, the Finance Minister has declared war on the "cosy pillow fights" between the big banks. Darleen Tana tells Heather they won't leave Parliament and is pushing back at the "cancel culture" that led to their ousting from the Green Party. Mercury Energy boss Vince Hawksworth defends his company's 159% profit rise during times of record electricity prices. Plus the Huddle debates whether the hype around Kamala Harris will last until the election in November. Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwi wine company Selaks has launched its first 5 percent offering amid increased demand for alcohol-free and low-alcohol beverages. Selaks Origins Breeze 5% promises a low alcohol experience, with each bottle containing three standard drinks. General Manager of Sales and Marketing, Olly Wilson, says this gives consumers more choice. "This is the first time we've had a 5 percent product available, so we're pretty excited about that."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Darleen Tana says they have support within the Green Party to stay. They've refused the Party's repeated requests to resign from Parliament. Tana today argued Parliament's proportionality isn't affected, because Te Pati Maori is submitting their vote via proxy - aligned with Green positions. Tana says they're not staying for the money, but because they're kaupapa-driven. "I'm listening to my communities - Green Party members and non-members alike - who have been constantly calling me and reminding me that they voted party Green for Darleen." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New reports have unveiled a disturbing discovery in Sydney's drinking water.  'Forever chemicals' with links to cancer have been found in several drinking catchments across the region - that serve millions of Australians. Australian correspondent Sam Emery says investigations are still ongoing into the extent of the damage. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Climate Change Minister believes slashing 24 million carbon credits will fix the struggling Emissions Trading Scheme. Companies buy the credits in quarterly auctions - to offset their pollution output. Repeated failures to sell credits triggered the Climate Change Commission to advise there are too many cheap units available, in order to drive down emissions. Minister Simon Watts says it's a simple supply and demand fix, but he can't speculate on the price implications. "What we've done here today is make sure we've put some credibility back into this market - which hasn't been the case in the past." Changes to unit numbers kick in from 2025. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Finance Minister aims to put an end to the 'cosy pillow fight' between banks and bolster sector competition. A Commerce Commission report has found that the four big Australian-owned banks are turning high profits, far out-stripping international peers. The Commission has recommends open banking practices and tweaks to Reserve Bank rules to ease access for small players. Finance Minister Nicola Willis says she's exploring options to raise Kiwibank's capital.  "I think Kiwibank needs to remain New Zealand's bank - and exactly how that's defined is one of the questions that's to be discussed during this process." LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Joe Biden's reflected on his legacy - and laid a case against Donald Trump in a rousing address. The President's speech ended the first day of the Democratic National Convention, where Kamala Harris will accept the presidential nomination. Biden says Harris will be a President the nation can be proud of - and will put her stamp on America's future. ZB senior political correspondent Barry Soper says Biden didn't hold back in his statements condemning Donald Trump.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

After three years of planning, Team NZ is set to compete in the 2024 America's Cup. On August 22, the six America’s Cup teams will take to the water in their new AC75 race vessels for the third and final preliminary regatta before the moments that truly matter. Sportstalk host D'Arcy Waldegrave explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's belief the Christ Church Cathedral will be rebuilt eventually, despite ongoing funding issues. The Reinstatement Group has announced it's pausing work - until more funding is found. The Finance Minister confirmed this month that no more cash will go to the project, leaving it short $85 million. Project chair Mark Stewart says the Government needs to play a part in the rebuild, but acknowledged constraints. "People are suffering out there, there is a cost of living crisis, there is fiscal restraint - and we need to be recognizant of that and understand the timing too." He says they're committed to keeping funding conversations alive with the Government, the City Council and donors. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The UK Government has established emergency measures to ease prison overcrowding as more rioters are being sentenced for their role in the recent unrest. The system, known as Operation Early Dawn, means defendants waiting for a court appearance will be kept in police cells until prison space is available. UK correspondent Gavin Grey says hundreds of people have been arrested over the last few weeks - which puts additional strain on the system. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Logistics and courier company Freightways has recorded a 5.8 percent decrease in net profit after weathering what its leaders believe to be the worst of the economic cycle in New Zealand and Australia. Freightways announced its 2024 results to the NZX on Monday. It reported net profit after tax of $70.9 million, a reduction from its 2023 result that the company said was largely due to higher interest expenses. Earnings before interest, depreciation, tax, and amortisation were $229.1m, up 6.6% from 2023. Freightways CEO Mark Troughear explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

BNZ’s performance of services index - which measures sentiment across services firms - was up 3.9 points to 44.6 in July from a rock-bottom level of 40.7 in June. While it’s better than June it’s still a very low result - a result below 50 indicates activity is contracting for the fifth straight month. Harbour Asset Management's Shane Solly explains how this adds to the proof that the Reserve Bank needed to cut the OCR. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Child Fund CEO Josie Pagani and Trish Sherson from Sherson Willis PR joined in on a discussion about the following issues of the day - and more! There's growing calls to bring back the Wellington-Auckland sleeper train as an alternative to pricey air travel. Is this a good idea? The Government has announced a new crackdown on dangerous drivers to bring down road deaths. Will this help make things safer?  The ACT Party caused a bit of a stir by not showing up at Koroneihana? Is this a bad look? LISTEN ABOVE    See omnystudio.com/listener for privacy information.

On the Heather du Plessis-Allan Drive Full Show Podcast for Monday 19 August - The Government is facing pressure to encourage households to reduce their gas usage. Is this a good idea? Energy Resources Aotearoa Chief Executive John Carnegie unpacks this. Police have voiced concerns about the 'organised criminal element' within the increase in boy racers following last weekend's incident in Waikato. Police Minister Mark Mitchell explains further. The Government is still doing well in the polls, according to data from tonight's 1News Verian poll. Finance Minister Nicola Willis says this is good news for National. Later, the Huddle debates whether or not we need a Wellington-Auckland sleeper train - and more importantly, who will fund it?   Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has seen support in the latest political poll. The 1News Verian poll has National on 38 percent, ACT on 7 and New Zealand First on 6. Christopher Luxon has jumped 5 percent to 28 percent as preferred Prime Minister. Finance Minister Nicola Willis says it's good to see. "We don't watch the polls too closely, they go up and down, but I think New Zealanders can see that we're doing the things we said we'd do. LISTEN ABOVESee omnystudio.com/listener for privacy information.