Larry Williams Drive

Well, I suspect many of us would’ve had the same reaction when we saw the news alerts on our phones last night. That a retailer had been stabbed to death in a store. And that was thinking, we knew this was going to happen. Because we did, didn’t we?  With all those ram raids, daylight robberies, tobacco thefts, we could see this coming.  I’m not going to lay blame on anyone for this other the person who did it. Because no one put the knife in their hand. They did it, it’s their fault. But I’m talking about the politics of this. Because this is very, very bad for the Government, but especially for Jacinda Ardern.  The public fury at what’s happening to our shopkeepers and shops is at fever pitch. We have bystanders now chasing and confronting robbers in baklavas out of sheer frustration at the fact that the authorities seem to not be doing enough. People are going to be very angry that it has now claimed a life. And they will blame the Government because it is the Government they look to, to do something.  And

Over in the UK, footballer Cristiano Ronaldo has been asked to leave Manchester United immediately. This decision was made following a controversial interview with Piers Morgan in which he criticised everyone within his football club. He still had several monhs left on his contract at the time. UK correspondent Kay Oliver says that he gave a heartfelt tribute to his fans, and he regretted walking away from them, but he stands by his criticisms. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank announced that they were hiking the OCR up a further 75 basis points to 4.25 percent, in numbers the economy hasn't seen since 2008. These numbers were expected, but the markets still haven't been taking it well, according to Milford Asset Management's Kaitlyn Parker.  The currency is going up and shares are going down. According to Kaitlyn Parker, the numbers aren't the biggest cause for concern, but rather the OCR's decision to be that aggressive with their response to potential inflation. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over in Wellington, the Building Nations infrastructure conference is underway, and set to continue on for the rest of the week.  Infometrics Principal Economist Brad Olsen has observed from this conference that the infrastructure sector is the latest among many requiring investments for long-term projects. Brad Olsen says that the vibe of the conference is optimistic, but people are aware that these projects will require a lot of investment for the future, and time isn't on everyone's side thanks to regulations and the state of the economy. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank officially announced that the OCR is going up by a further 75 basis points to 4.25 percent, the highest level since 2008.  Jenee Tibshraeny, NZ Herald Wellington business editor says that this news isn't surprising, but this rate hike may not even be the worst of it. Jenee Tibshraeny says that the financial markets were more shocked by the lack of growth potential paired with the rate hike, and the fact that it could lead to a recession by next year. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Today on The Huddle: Jack Tame from ZB's Saturday Mornings and Q&A and Phil O'Reilly from Iron Duke Partners talked about the following issues of the day- and more! National has announced they will be re-thinking most of their tax policy (besides indexed tax brackets) following the announced OCR hike. Were they planning on using the announcement as an easy out for stuff they already planned on reforming? Speaking of which, The Reserve Bank officially put the OCR up by 75 basis points. What will this mean for 2023's economic future? Kainga Ora have moved 113 tenants, but only half of them have been marked as unruly. The other half were the neighbours who were looking to move away from disruptive or destructive neighbours. How unfair is this for these vulnerable communities? The Government is in the process of re-evaluating Three Waters, but the discussion has definitely gotten messy and muddled. Is there hope in the Government clarifying aspects of the legislation? LISTEN ABOVE      See omnystudio.com/list

Following the Reserve Bank hiking up the OCR by a further 75 basis points, National has announced they will be rethinking their tax policy.  Chris Luxon said that National's entire policy (minus indexed tax brackets) will be re-assessed in order to counteract inflation. National's Finance Spokesperson Nicola Willis clarified that today's update presents terrible news for the economy, as it means New Zealand will have to deal with further inflation, recession, and limited growth. "This is a dark picture, and it's up to National to be the responsible economic managers that will get New Zealand through what's going to be a difficult time." LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Auckland mayor Wayne Brown has recently expressed his lack of confidence in the current Port of Auckland board- and plans on replacing them.  The Maritime Union has fired back by standing by the Port of Auckland and defending them against Wayne Brown's criticisms.  Maritime Union secretary Russell Mayn says that the current board is still relatively new, and have had to grapple with challenges posed by the last couple years. Russell Mayn also says that the team is already quite small, and reducing the team in charge of the ports in a major city is impractical. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Three Waters legislation is in the process of being re-examined, after parts of the legislation were deemed "confusing." Labour's Megan Woods clarified that the "Five Waters" discourse was the fault of the farming community, as they requested that geothermal and coastal waters be covered by Three Waters. Federated Farmers President Andrew Hoggard is denying that the farming community was to blame in this scenario, as they were merely asking for clarification around aspects of the legislation. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Canterbury University students are taking on a world speed record in a custom-built electric car. Motorsport club members have built a 7.5-metre-long car hoping to break a record of 329 kilometres an hour held by an American university. They plan to compete in Dry Lakes Racers Australia's Speed Week in March. Team Principal Kaenan Ferguson says they're confident they have a chance and they plan to start out slow before building up speed. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Kainga Ora is defending not evicting a single tenant, despite more than 6000 complaints this year. Eighty-four percent are for non-serious issues, like unmowed lawns and too frequent visitors. Spokesperson Shannon Gatfield says the agency warns people before turfing them out of their homes and that it's been an effective strategy. Shannon Gatfield says in ninety percent of cases they don't get another complaint after the first warning. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A glimmer of optimism after the latest Official Cash Rate hike. The Reserve Bank's pushed the OCR up an unprecedented 75 basis points to the highest level since 2008 at 4.25 percent. It forecasts it'll peak at 5.5 percent in 2023, with New Zealand entering a shallow recession mid-next year. But ASB chief economist Nick Tuffley says he anticipates the hike will get on top of inflation. He says in fact, the Reserve Bank has a surprisingly high view of where inflation will be in the next six to seven months. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank has just pushed the OCR up by 75 basis points, which has put it up to 4.25 percent now. This is the highest level the OCR has been at since 2008, and speculation forecasts that it'll peak at 5.5 percent and cause New Zealand to enter a recession by next year. Political editor Barry Soper says that this creates a negative precedent for 2023, and these rates are set to backfire on recent home buyers. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The US Supreme Court has recently allowed a congressional committee to view Donald Trump's tax returns after three years of legal battles. The Supreme Court gave the IRS permission to finally release these tax returns to a Democratic house committee as part of an investigation. US correspondent Dan Mitchinson says that Donald Trump has been keeping these infamous tax returns hidden for years, and that this information being publicly divulged represents another blow for the former President. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

New Zealand Cricket has just let Martin Guptill go from his current Black Caps contract, as he wishes to explore opportunities overseas. New Zealand Cricket has made it clear that he would still be available for selection in the future, domestic players would be given preference over him in future Black Caps events. Sportstalk's D'Arcy Waldegrave has confirmed that Martin Guptill isn't announcing a retirement from the sport, he's just looking for playing opportunities elsewhere. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Glengarry Wines, a family-owned Auckland business has been the victim of 42 raid attacks, most of which have happened in the last 18 months. The company has shared footage of the latest robbery to social media, in an attempt to raise awareness of the damage that the thieves can do in a short time frame.  General manager Liz Wheadon says that the company has intentionally kept quiet about the number of ram-raids until now, as she felt the family business had reached their breaking point and that something needed to be done. Liz Wheadon hopes that sharing these videos will highlight the toll that ram raids have been taking on small businesses in terms of monetary and emotional costs. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over in the UK, many popular supermarkets like Tesco, Asda, and Lidl have started rationing the amount of eggs customers can buy. Tesco has limited customers to three boxes of eggs per day, and Asda and Lidl are following similar restrictions. UK correspondent Enda Brady says that these restrictions have been put in place due to several factors disrupting the supply chain process. Between chicken feed prices being among the supplies disrupted by the Russia-Ukraine war and an avian flu epidemic tearing through the UK, the supply of eggs is being disrupted and limitations have to be put in place. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A new survey has just come out stating that one in five people are paying for subscription services they don't use. At least a quarter of people have more than six active subscriptions for various paid services.  Michael Maclean, ASB Lead for Everyday Money says that these statistics are due to a number of factors, but us being more reliant on the internet makes it easier for people to passively spend.  Michael Maclean also stated the types of services people reach out towards depend on age demographics and preferences, but it's easy for people to over-commit and have multiple platforms draining their accounts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Damien O'Connor has recently gotten into it with ZB's Barry Soper, as he blames Barry Soper for the "Five Waters" expression taking off. The Three Waters legislation is being expanded to cover geothermal and coastal waters, in addition to fresh water, hence the expression becoming a talking point. Jamie Mackay, host of The Country says that this ongoing Three Waters legislative reform may set the pace for how the Government processes 11,000 submissions on the pricing of agricultural emissions. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Te Pūkenga is advertising for eight new executive directors, who will earn $200 thousand dollars a year. At the same time, it's also looking to slash its budget by $35 million dollars- without ruling out redundancies. Merran Davis, former Te Pūkenga Deputy Chief Executive says that these decisions are being made to help the company re-structure itself. LISTEN ABOVESee omnystudio.com/listener for privacy information.