Larry Williams Drive

The Reserve Bank cut the OCR by 25 basis points to three percent today, but the markets still saw some surprises. Today's cut was divisive, with 2 of the 6 committee members voting for a 50 basis point cut. Remy Morgan from Milford Asset Management explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Jordan Williams from the Taxpayers' Union and Jack Tame from ZB's Saturday Mornings and Q&A joined in on a discussion about the following issues of the day - and more!  The OCR dropped by 25 basis points to 3 percent today, with the MPC divided about the cuts. This indicates the economy is not in a good spot - where does this leave the Government?  Winston Peters is offering to give public evidence at the Covid inquiry - is this a stunt?  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The longer that this economic funk that we find ourselves in goes on, the more that Jarrod Kerr of Kiwibank is being proven right, isn't he? And we had a cut today - it was 25 basis points down to 3 percent - and now there's the expectation that we will maybe get down to 2.5 percent before this thing bottoms out. 2.5 percent is where Jarrod Kerr has been saying for months that we need to get to. But even though he's been saying it since at least September last year, if not earlier, the Reserve Bank has only just caught up with him. Up til now, they've been talking about 2.75 percent, 3 percent maybe. Now, what you should take from this is that the Reserve Bank is surprised by what Jarrod Kerr - and you could argue many of us - have been seeing for ages, which is that the economy is properly, properly stuffed. Like, stuffed enough that they should be cutting a lot more than they are. Why this is a surprise to them is beyond me, because you just need to look at what's going on with businesses today to see

On the Heather du Plessis-Allan Drive Full Show Podcast for Wednesday, 20 August 2025, acting Reserve Bank Governor Christian Hawkesby speaks to Heather about the decision to cut the OCR down to 3 percent - and why the bank didn't go for a bigger cut. How many more days will students be off school because of striking teachers? The union's Chris Abercrombie tells Heather they're hoping to get a better pay deal from the Government. Things are going from bad to worse for Fletcher Building. CEO Andrew Reding tells Heather they're a victim of the economy which hasn't been this bad since the 80s. Should your life insurance company have access to genetic tests you do, and hike your premium as a result? Plus, the Huddle debates the state of the economy and whether Nicola Willis is in the danger zone. 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.

Spark has reported another big fall in profit, with reported net profit down 17.7 percent to $260 million - or a 33.6 percent fall to $227 million, adjusting for one-offs. The telco also cut approximately 1300 full-time employees by the end of June, with many roles being eliminated or going to outsourcing and offshoring firms. CEO Jolie Hodson says it's a tough economic market and the company has had to adjust to these changes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building has confirmed a new focus on building materials. The construction giant's announced a net loss of $419 million for the past year, compared to a loss of $227 million last year. It's already been looking for buyers for its construction division and some other subsidiaries. Fletcher CEO Andrew Reding says this is the toughest things have been since the GFC. "It's highly unusual when you get both your residential infrastructure and your commercial market segments all crashing down at the same time." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand wool can be found in clothing and people's homes - but it's set to be bouncing around the courts of the next US Open. Tennis balls made with wool sourced from farms throughout the country will be served up by the world’s top-ranked players when the tournament gets under way this weekend.  NZ Wool Services trading manager Nathan Watt says New Zealand-produced wool is widely regarded as the best in the world for tennis balls. "We've got the best-coloured wool in the world for strong wool, so it's perfect for tennis ball felt." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Foreign Minister's defending recalling Trevor Mallard as Ambassador to Ireland now, and not 18 months ago.  The previous Government appointed the former Parliament Speaker to the role in 2023. Winston Peters yesterday replaced him, saying Mallard will return home two months early.  He says Mallard should have resigned. Peters further explained he didn't bring him home earlier to avoid being accused of being vindictive.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Secondary teachers aren't backing down from their fight for better pay. Thousands of teachers walked off the job today and picketed across the country.  They say a proposed one percent pay rise is actually a cut in real terms - and concerns on staffing, professional development and support aren't addressed.  PPTA President Chris Abercrombie says he hopes that'll be the end of action, and the Government will come to the table. He says Minister Erica Stanford's signalled interest in improvement.  "Erica's come out and said she wants a world-class education system, and we want the same. So there's definitely common ground there, but it's just about how we get to that space." LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's cautious optimism from the Reserve Bank Governor after cutting the OCR by 25 basis points this afternoon. Christian Hawkesby says the economy's been a bit stagnant, but there's reason to be positive. "We've lowered interest rates a long way now, we've sent out a pretty strong signal that we're willing to lower them further, as required, we've got other drivers of the economy - like high commodity prices." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank is signalling further OCR cuts, but making no promises. It's slashed the cash rate 25 basis points today, to 3 percent. Newstalk ZB senior political correspondent Barry Soper says this is a sign that the screws are off the economy. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The White House is claiming plans are well underway for a meeting between Russian President Vladimir Putin's and Ukrainian President Volodymyr Zelenskyy. US President Donald Trump met with Zelenskyy and several foreign leaders earlier in the week. He's also now ruled out sending US troops to Ukraine under any peace deal. US correspondent Dan Mitchinson says it's clear Trump doesn't want to be a part of any discussions between the leaders. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The champions of last month's Softball World Cup are under a doping cloud, after Venezuela pitcher Maiker Pimentel returned a positive drug test. Pimentel has been provisionally suspended for taking the anabolic steroid stanozolol, which promotes and enhances lean muscle growth. He was named tournament MVP after pitching Venezuela to victory over the Black Sox in the final. Sportstalk host D'Arcy Waldegrave explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Two New Zealanders who took drastic steps to prevent deadly hereditary cancers recently informed Parliament that insurance discrimination is stopping others from doing the same - costing lives as a result. As part of AGenDA’s campaign to end 'genetic discrimination', Jody Bews-Hair and Julian Grennell urged the Government to protect Kiwis from being penalised by insurers for their genetic test results. Jody Bews-Hair says genetic testing saves lives, and people should be encouraged to take the tests without fear. "Anything that encourages people to get testing is really important, because it literally saves lives - and it ultimately saves money down the track. It's a lot cheaper to fund a prophylactic surgery or screening than it is to fund 10 years of cancer treatment." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A Waterloo-based pub has raised eyebrows among Londoners after it introduced an extra service charge for all purchases.  Drinkers at the pub will be expected to pay an extra 4 percent on their purchases going forward. UK correspondent Enda Brady outlined the terms further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank is widely expected to cut the OCR tomorrow, according to new reports. The OCR is currently sitting at 3.25 percent and the major banks have already been dropping their mortgage interest rates in anticipation. HSBC chief economist Paul Bloxham outlined his predictions. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the cogs of Cabinet. The Labour government banned the trade two years ago, but National and ACT campaigned on bringing it back.  The Country's Jamie Mackay explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, broadcaster Mark Sainsbury and former Labour MP Stuart Nash joined in on a discussion about the following issues of the day - and more! Winston Peters confirmed Trevor Mallard is coming home from his post as Ambassador to Ireland. He says the appointment was a case of 'jobs for the boys'. Should former politicians ever become ambassadors? What did we make of the scenes from the big White House meeting between Trump and Zelenskyy? Do we think we're getting closer to a deal being formed?  The Cambridge Dictionary added 6000 new words - do we know what 'skibidi', 'tradwife' and 'delulu' mean? LISTEN ABOVESee omnystudio.com/listener for privacy information.

On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 19 August 2025, Donald Trump's big meeting with Volodymyr Zelensky and seven European leaders was a bit of a love fest - but are we actually any closer to peace in Ukraine? Energy Minister Simon Watts gets a grilling from Heather over the Government's plan for our energy security. AI deepfake scams are getting so good - even the people being imitated can't tell the difference. Businessman Gareth Morgan tells Heather the scam that features him is so good even he couldn't tell it was fake. Plus, Trevor Mallard is coming home from Ireland and the Huddle weighs in on the debate about whether former politicians should be appointed to ambassadorships. 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.

So here's a little bit of happy news for anyone still feeling injustice over the petty way that Trevor Mallard turned the sprinklers on the Parliamentary protesters and made everything worse - he is coming home from his plum job in Ireland as the ambassador. As Winston Peters says, quoting The Seekers - the carnival's over. And it's a good job too, because it was always deeply unfair that Mallard could behave like a child and basically torment fellow Kiwis, and then be rewarded by his mates with a job that was funded by Kiwis. Now Winston's trying to spin this like he's bringing Trevor Mallard home early. He's actually not really at all. Trevor's due home in January. It's understood that he's gonna be back in November. Whoop dee doo- two months early in a three-year term is hardly a punishment or a massive recall, isn't it? I mean, if Winston wanted to bring him home early, he could have brought him home at any point in the last two years that he's been the Foreign Minister. But I will agree with Winston on s