The SME Stream

'Putting the mideast aside the currency play has been quite dramatic for the NZ market'  Mohandeep Singh Craigs Investment Partners.

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The worst seems to be over when it comes to the job market. 

Filled jobs rose 0.3% in May —an extra 2,515 roles— with strong gains in the service and public sectors. 

The annual lift of 0.7% was the fastest in over two years.  

Independent economist Cameron Bagrie told Mike Hosking in terms of the economy, it’s as if we’re on State Highway 1, travelling around 60kp/h when the speed limit is 100kp/h. 

He says we have forward propulsion, but we’re not knocking the ball out of the park in regards to speed.  

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Surprise over jobs in the public service rising, despite cuts planned by the Government.

Seasonally-adjusted Stats NZ data shows filled jobs rose 0.3 percent last month - and 0.7 percent for the past year.

The most jobs were in the public sector, with more than six-thousand jobs created in the year to May.

Infometrics Economist Rob Heyes says there's still plenty of work to do in the public sector, especially in health and education.

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Kiwibank believes there’s no need to increase the Official Cash Rate just yet. 

They believe the figure should be held at 2.25% when the Reserve Bank reviews it next week. 

Kiwibank Chief Economist Jarrod Kerr told Mike Hosking that oil prices were a temporary shock and some of the fears around secondary inflationary pressures haven’t eventuated. 

He told Mike Hosking that wages are still very soft and the economy is still recovering, so there’s no need to hike rates just yet.  

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As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice.

This week, does National’s new Kiwisaver policy fill enough gaps in the scheme? …. Another confidence knock to our job market and what employees are prioritising in the work place .. plus we look at how our inflation data compares internationally.

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Our relationship with China takes centre stage in Auckland this morning.  

The 12th annual China Business Summit brings together business and political leaders to explore areas for cooperation amid deepening global uncertainty. 

New Zealand exported nearly $20 billion worth of goods to China last year.  

Auckland Business Chamber chief executive Simon Bridges told Mike Hosking political leaders have been shifting this country closer to our security partners, but they still have to maintain New Zealand's commercial interests.  

He says in contrast to the climate of uncertainty surrounding US President Donald Trump, his tariffs, and the war, China has positioned itself as a predictable and reliable partner.  

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Christchurch’s new stadium has put its stamp on the city, pumping $21 million into the economy in just 60 days.  

One NZ Stadium was forecast to generate $50 million in a year. 

The project was also completed six weeks early and $26 million under budget. 

Venues Otautahi chief executive Caroline Harvie-Teare told Mike Hosking they’re absolutely flying – it’s well beyond what they had forecast. 

She says things will flatten off a bit now that Super Rugby Pacific is over, but they have a really strong event pipeline, so those numbers are going to continue.  

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New Zealand Rugby's adamant there was no choice but to reject rescue plans for the financially-strapped Moana Pasifika. 

Moana is officially out of the 2027 Super Rugby season – although there is hope they will be back in the future. 

The franchise fizzles out, owing millions on a loan from the Government through Sport New Zealand. 

Chief financial officer Chris Kinraid told Mike Hosking they made all efforts to save Moana Pasifika, but in the end they had a pretty strict criteria. 

He says they were looking for proposals that had the cash to support the franchise and a sustainable and viable business plan, and both those criteria weren’t met.  

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There's been some flare-ups in the AI and chip sectors and experts have raised concerns.

There's been drops on the Nasdaq and S&P 500, and investors are questioning the huge amount of spend on AI.

Milford Asset Management's Jeremy Hutton explained further.

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Labour isn’t the only party faced with a funding challenge related to the country’s pay equity regime.

The three pay equity claims in the works relate to people who work for organisations partially funded by the Government - Plunket, Hospice and Bupa Aged Care.

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

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