Early Edition with Kate Hawkesby

Are disruptions in the Red Sea hitting New Zealand as hard? Freedom Furniture has reported a $9 million loss in profit, saying that it’s partially due to the chaos in the Middle East.  Infometrics Principal Economist Brad Olsen told Mike Hosking that the disruptions are impacting businesses in quite different ways, depending on whether they’re using that route to ship to Europe.  The challenge for us, he said, is shipping delays.  A delay of 14-21 days will have spill over effects for businesses lasting a fair bit of time.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

For the second time in as many weeks, Kiwibank and ASB have reduced their fixed mortgage rates.   It follows falls in wholesale rates on the expectation that central banks are getting closer to cutting their benchmark rates.  ASB’s Chief Economist, Nick Tuffley, told Mike Hosking what people are seeing is the settling of rates and the response to news over the last week.  The market is still reasonably patchy, but according to Tuffley its likely to even out slightly as interest rates come down.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Princess of Wales has admitted to editing an image of her and her three children.   The first image since her abdominal surgery, it was posted to mark Mother's Day in the UK.   It was then pulled by numerous media photo agencies over concerns it'd been manipulated.   Catherine says like many amateur photographers, she occasionally experiments with editing.   Daily Mirror Royal Editor Russell Myers told Mike Hosking that he's not sure why they'd publish the photo themselves or send the photo to the world's media organisations.   He says there's still a litany of issues: how much it was edited, how many photos it was taken from, and when it was edited.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Property Investors' Federation says easing rents relies on many factors. The Government's re-introducing interest deductibility for landlords. They'll be able to claim 80 percent of interest expenses from April, and 100 percent from April 2025. The Government says it'll ease pressure on rents, also benefiting tenants. Property Investors' Federation President Sue Harrison told Mike Hosking that the pressure on rents, has come from insufficient rental properties. She says they've been put under high pressure from high interest rates, and the money has to come from somewhere.   LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Green's new co-leadership could look different under Chloe Swarbrick. The Auckland Central MP has won the race to replace James Shaw, and will lead the party alongside Marama Davidson. Former Greens MP Gareth Hughes says Swarbrick's assertive approach to politics is a contrast from Shaw. But he told Mike Hosking that people are looking for passion and authenticity in politics - and some will be drawn to her values. Hughes says people wrote her off in Auckland Central but she won overwhelmingly - so she's someone who's able to reach across and attract voters.   LISTEN ABOVESee omnystudio.com/listener for privacy information.

A US military ship is on its way to Gaza, carrying equipment to build a temporary pier off the coast. It comes after President Biden announced the US would build a floating harbour to help get aid into Gaza by sea. They had carried out an airdrop on Sunday, parachuting in more than 11-thousand meals. Europe correspondent Gavin Grey spoke to Mike Hosking about what it will contain.   LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Associate Finance Minister says the last Government removing landlords' interest deductibility was a tax grab. The current Government's re-introducing it. They'll be able to claim 80 percent of interest expenses from April, and 100 percent from next April. David Seymour told Mike Hosking that they've restored the integrity of the tax system. He says if you invest in any business or commercial property, you're allowed to deduct interest costs from taxable income.   LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Black Caps have one last shot against Australia.  Today the final test match against the Australian side takes place at Hagley Oval in Christchurch, kicking off at 11am.  Newstalk ZB’s Cricket Correspondent Andrew Alderson told Mike Hosking that last night was the 50th anniversary of New Zealand’s first taste of victory over Australia back in 1974.  So, if New Zealand needs any belief today, he said, the 50th anniversary might do it.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A former National Minister says this Government's changes are a big turn-around from the last. The Government's first 100 days are virtually up, and it's ticked off almost all of its 49 items.   Many of the things on the list were to unpick the last government's changes or to begin work on their plans.   The last point to tick off is setting major targets for the health system, and that's expected to be crossed off today.   Former Cabinet Minister Maurice Williamson told Mike Hosking that it's a change from the last Government saying it'd do things and not doing them.   He says former MPs can be critical, thinking they were better, but he says this is the best he's ever seen.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There’s more belief in the housing market.  ASB's latest Housing Confidence survey shows net 51% of people expect house prices to rise.  It's the highest reading since October 2021, before the start of the most recent housing market downturn.  Senior Economist Kim Mundy says last time expectations were at this level, annual house price growth was at almost 30%  - this time it's at 2.2%.  So, she says, while it doesn't necessarily point to a degree of house price growth, it does suggest house prices can lift over the coming year.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The number of students leaving home schooling increased last year.   Education Ministry figures show 2,286 children exited home education, the highest number on record.  More than half those leaving had been learning from home for less than a year.   Total home school numbers remain well above pre-pandemic levels.   Secondary Principals' Council Chair Kate Gainsford told Mike Hosking that there are many factors why people are going back to mainstream.  She says it could be that the realities, demands, and responsibilities of providing education at home are becoming real.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Rotorua's Mayor is feeling upbeat about the Government's new emergency housing laws.   Families with children living in emergency housing for more than 12 weeks will go to the top of the social housing waitlist.   The verification process, eligibility settings, and obligations will also be strengthened for those entering emergency housing.  Tania Tapsell told Mike Hosking that there's a lot of children in these environments, so it's great they're targeting those most in need.  She sees hope for a quicker end to what's been a shambles, not only in Rotorua but across the country.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nikki Haley has withdrawn from the US presidential race meaning we're in for another Biden-Trump election.  The former South Carolina governor announced her decision to suspend her campaign this morning, a day after Super Tuesday.  Republican frontrunner Donald Trump beat her soundly in all but one of the 15 nominating contests.  US correspondent Mitch McCann told Mike Hosking that Haley has yet to endorse Trump.  He says it's possible she will in the future, but it's hard to see that happening given what she's been saying about him over the past few months.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Police Association President says military academies for youth offenders are worth a crack.   The Government plans to have an Oranga Tamariki-run pilot programme by the middle of this year.   Police Association President Chris Cahill told Mike Hosking that people who sponsored earlier models tell him they saw kids coming in with no self-esteem and leaving with their mana restored.   He says the challenge is when they left, they went back to dysfunctional families and places with gang influence.   Cahill says support at the end of the programmes is needed.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

It’s a bad look for the country as the Prime Minister's plane woes make worldwide headlines.   The Air Force's Boeing 757 never left the ground yesterday due to a technical fault with the nose landing gear.  It meant Christopher Luxon had to fly commercially to Melbourne for ASEAN talks, missing a couple of meetings due to the delay.  Auckland University marketing lecturer Marilyn Giroux told Mike Hosking that the likes of international outlets Reuters and Australia's Sky News all reported on the troubles.  She says it's definitely not the best look we want for the country, as it's been picked up quite a lot.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Dunedin's Forsyth Barr Stadium swapped its usual green field for two hours of acrobatic entertainment from pop star P!nk last night.  The three-time Grammy award winner drew 37-thousand people to the first New Zealand show of her Summer Carnival tour.  The Country's Rowena Duncum was there – and told Mike Hosking that P!nk's acrobatics were impressive.  She says it was phenomenal how she could fly through the air —sometimes upside down— and still be able to sing.  P!nk will play Auckland's Eden Park on Friday and Saturday nights.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The first-ever government-funded space mission is scheduled for take-off this morning.  The American-New Zealand mission will see the MethaneSAT satellite launched into space to study global emissions from agriculture and measure methane leaks from oil and gas production.  Auckland University Spacecraft Mission Operations Director Chris Jackson says the ultimate goal is to drive down global warming effects from methane sources.  He says methane is a very potent greenhouse gas, more so than carbon dioxide, so stopping it leaking can have a reversing effect.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

What was already a busy day for Christopher Luxon has just become busier.  A fault with New Zealand’s Defence Force plane has forced the Prime Minister fly commercial to Melbourne for today's ASEAN summit.  He has a tight schedule to keep to, meeting with eight South-East Asian leaders on the sidelines of the special ASEAN-Australia summit.  Newstalk ZB Political Reporter Demelza Jackson told Mike Hosking that each meeting is only about ten minutes long, but its more about putting a face on the New Zealand name.  Tomorrow, she said, is all business, with ANZ’s business breakfast in the morning and a trip to a Fonterra factory in the afternoon.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The National Road Carriers Association says the Government's draft transport plan is a great step in the right direction.   It features a half billion-dollar pothole prevention fund and 15 Roads of National Significance.  It'll be funded in part by a $25 increase in vehicle registration fees in each of the next two years.  Chief Executive Justin Tighe-Umbers told Mike Hosking that the policy's focused on the right stuff.   He says it's a strong start, so they're pleased, and it's about getting back to basics.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Germany has admitted to an apparent hack by Russia of a military meeting where personnel discussed giving Ukraine long range missiles and possible targets.  Europe correspondent Gavin grey told Mike Hosking the hack is being investigated but it is being questioned why the video conference was held on the WebEx platform rather than a secret internal army network.  Meanwhile, the first vessel to be sunk by Houthi rebels in Yemen could cause a large environmental catastrophe.   The Houthi rebels are targeting boats connected to Israel, the UK and the US – hitting a British registered cargo ship carrying tonnes of ammonium nitrate fertiliser. Experts say the impact of this could decimate wildlife in the area of the Gulf of Aden.  Listen above. See omnystudio.com/listener for privacy information.