Latest / Early Edition with Ryan Bridge / Full Show Podcast: 7 August 2024

Transcript

Full Show Podcast: 7 August 2024 · Early Edition with Ryan Bridge

• 0:01
  Speaker 1: The issues, the interviews and the inside Ryan Bridge you
• 0:08
  Speaker 1: for twenty twenty four on the early edition with Smith City,
• 0:12
  Speaker 1: New Zealand's furniture Beds and a play a store news Dogs.
• 0:15
  Speaker 2: It'd be good morning.
• 0:16
  Speaker 3: It is six half to five. It is Wednesday, the
• 0:19
  Speaker 3: seventh of August. I'm Ryan Bridge. Great to have your company.
• 0:22
  Speaker 3: Keep in touch this morning. Nine two nine two is
• 0:24
  Speaker 3: the number to text Big Day four mortgage holders today
• 0:28
  Speaker 3: if you have one. Basically, are enough people out of
• 0:32
  Speaker 3: work to force the ocr down thereby taking the pressure
• 0:36
  Speaker 3: off your mortgage interest rate. Essentially what we're looking at today.
• 0:40
  Speaker 3: And we've got Mark Smith, the ASB senior economist on
• 0:42
  Speaker 3: the show just before six. What is the magic number
• 0:45
  Speaker 3: from the jobs started today? We will find that out.
• 0:48
  Speaker 3: Also this morning, Tim Walls or Waltz. We think it's
• 0:53
  Speaker 3: Tim Waltz. Who the hell is this guy? He's just
• 0:55
  Speaker 3: been picked by Kamala Harris to be her vice presidential nominee,
• 0:59
  Speaker 3: herrunning mate, and this election will look a little bit
• 1:02
  Speaker 3: at his history. Who this man is and what he
• 1:05
  Speaker 3: stands for, and also what Trump is saying about him already.
• 1:09
  Speaker 3: Also this morning, Chinese swimmers being accused of doping nothing
• 1:13
  Speaker 3: new there. China says, we're squeaky clean.
• 1:18
  Speaker 4: The agenda.
• 1:19
  Speaker 3: This gone seven after five. It's Wednesday, the seventh of August.
• 1:22
  Speaker 3: US Democratic presidential nominee and current Vice President Krmla Harris
• 1:26
  Speaker 3: has selected her running mate for the November election. Minnesota
• 1:30
  Speaker 3: Governor Tim Waltz will run alongside Harris. In two thousand
• 1:33
  Speaker 3: and six, he was elected as a House representative for Minnesota,
• 1:37
  Speaker 3: becoming the governor in twenty nineteen. He had previously served
• 1:41
  Speaker 3: in the Army National Guard and was a high school teacher.
• 1:43
  Speaker 3: Analysts believe he could be the right person for the job.
• 1:46
  Speaker 5: This guy comes out of nowhere.
• 1:48
  Speaker 6: Two weeks ago, nobody even knew his name, and he lit.
• 1:52
  Speaker 5: Up the grassroots, he lit up the Internet.
• 1:56
  Speaker 3: Harris and Waltz are expected to speak together publicly for
• 1:59
  Speaker 3: the first time. Tom Bangladesh has dissolved its parliament, just
• 2:02
  Speaker 3: a day after its prime minister stood down and fled
• 2:05
  Speaker 3: the country. It's seen weeks of violent protests, with one
• 2:08
  Speaker 3: hundreds killed. Just hours before the announcement, the student protest
• 2:11
  Speaker 3: leaders who kicked this whole thing off promised more action
• 2:14
  Speaker 3: if parliament wasn't dissolved. Our rental market's far from where
• 2:18
  Speaker 3: it needs to be to support an aging population. A
• 2:21
  Speaker 3: Retirement Commission report reveals due to declining home ownership, more
• 2:25
  Speaker 3: people will be renting into older age Oh so you
• 2:28
  Speaker 3: mean we need landlords now, do you? Has found that
• 2:31
  Speaker 3: more than six hundred thousand people over the age of
• 2:34
  Speaker 3: sixty five will be renting by twenty forty eight. And
• 2:36
  Speaker 3: guess what, that's an increase of more than one hundred percent.
• 2:40
  Speaker 3: Policy specialist Jordan King says the private rental market is
• 2:43
  Speaker 3: already not keeping up with the demand for more accessible housing.
• 2:47
  Speaker 7: We need to see the property management industry starting to
• 2:50
  Speaker 7: prepare policies and procedures for tenants who may need additional
• 2:55
  Speaker 7: levels of support.
• 2:57
  Speaker 4: The first word on the News of the Day edition
• 3:00
  Speaker 4: with Ryan Bridge and Smith City, New Zealand's Furniture Beds
• 3:04
  Speaker 4: and a playing store news talk set me.
• 3:06
  Speaker 3: Yeah, so we'll keep an eye on what's happening this
• 3:08
  Speaker 3: morning with the job starter. It's obviously an indication of
• 3:12
  Speaker 3: where the Reserve Bank might go next week. Interestingly, markets
• 3:17
  Speaker 3: are pricing a ninety two percent chance of a rate
• 3:19
  Speaker 3: cut next week here, so it could happen quickly. Although,
• 3:23
  Speaker 3: as I mentioned yesterday, are we all going to run
• 3:25
  Speaker 3: out and spend all of our money straight away. I
• 3:27
  Speaker 3: don't know what happened yesterday afternoon. The key we dollar foul.
• 3:32
  Speaker 3: This is after the Yaussies kept their rates on hold
• 3:35
  Speaker 3: at four point three five percent. And I've actually got
• 3:37
  Speaker 3: some audio from the Reserve Bank Governor Australia to play
• 3:39
  Speaker 3: for you in a second. But they're taking a tough
• 3:42
  Speaker 3: stance over there. They are expecting to hit their target band,
• 3:45
  Speaker 3: which is two to three percent, not until late twenty
• 3:49
  Speaker 3: twenty five. They'll reach the midpoint they reckon in twenty
• 3:53
  Speaker 3: twenty six, and they have said no rate cut here.
• 3:59
  Speaker 3: It ain't happening till twenty twenty five.
• 4:02
  Speaker 8: Make no mistake, inflation is still too high. A rate
• 4:04
  Speaker 8: cut is not on the agenda in the near term.
• 4:06
  Speaker 8: Given what we know, continued pressure will help to keep
• 4:10
  Speaker 8: demand coming back into line with supply.
• 4:13
  Speaker 3: So you've got Australia holding, you've got the feeds in
• 4:15
  Speaker 3: the US holding, You've got Japan hiking rates, the anomaly,
• 4:20
  Speaker 3: you've got the bank as we said yesterday, Bank of England,
• 4:23
  Speaker 3: Eurocentral Bank, Canada have all cut and here we've got
• 4:28
  Speaker 3: our decision next week. And basically we're looking for a
• 4:32
  Speaker 3: magic number from the quarter to labor market data which
• 4:36
  Speaker 3: is being released today. So quarter one four point three
• 4:39
  Speaker 3: percent unemployment asb Reckons quarter to four point seven percent.
• 4:43
  Speaker 3: What is the magic number? We'll ask Mark Smith. That's
• 4:46
  Speaker 3: just before six this morning, just gone eleven after five.
• 4:50
  Speaker 4: On your radio and online on iHeartRadio Early Edition with
• 4:55
  Speaker 4: Ryan Bridge and Smith City, New Zealand's Furniture Beds and
• 4:58
  Speaker 4: a Plying Store.
• 5:00
  Speaker 3: Ziby thirteen after five. Great to have your company on this.
• 5:03
  Speaker 3: What are we Wednesday morning? Tim Waltz is his name.
• 5:07
  Speaker 3: You'll be hearing it a lot today. He's been picked
• 5:09
  Speaker 3: by Kamala Harris's team as her running mate for the
• 5:13
  Speaker 3: November election. He's Minnesota governor. He's folksye because she's obviously
• 5:20
  Speaker 3: a Californian liberal and Trump it Our are trying to
• 5:24
  Speaker 3: paint her as wacky, you know, wacky, wacky liberal, most
• 5:28
  Speaker 3: liberal politician in America, So they've gone with this folksy
• 5:32
  Speaker 3: white guy to try and you know, change the image
• 5:35
  Speaker 3: a bit. But he's pretty liberal too. Have a listen.
• 5:40
  Speaker 9: Twenty twenty three would prove a banner year for the governor.
• 5:43
  Speaker 9: He was part of a DFL tri factor that passed
• 5:45
  Speaker 9: a sweeping progressive agenda that included free school meals, cartifying
• 5:50
  Speaker 9: abortion rates, legalizing marijuana, enacting Peede family leave, and more.
• 5:56
  Speaker 10: History will write the story I keep hearing about this.
• 5:58
  Speaker 10: What's this going to mean? Well, we'll find out. We're
• 6:01
  Speaker 10: pretty sure it's going to mean a fair and more inclusive,
• 6:04
  Speaker 10: better and more prosperous Minnesota.
• 6:06
  Speaker 3: There you go. Legalizing marijuana doesn't exactly sound conservative, does it.
• 6:10
  Speaker 3: I suppose they're trying to strike a balance there somewhere.
• 6:12
  Speaker 3: Fourteen after five Brian Bridge, one of New Zealand's oldest
• 6:16
  Speaker 3: and most iconic department stores, Smith and Coey's, has found
• 6:19
  Speaker 3: a way to partially save itself. The company has backtracked
• 6:23
  Speaker 3: on a full closure, now deciding to shut its Newmarket
• 6:26
  Speaker 3: store and downsize it's Queen Street one while focusing on
• 6:29
  Speaker 3: online sales. Heart of the City chief executive Viv Beck
• 6:32
  Speaker 3: is with me this morning. Good morning, Viv, good morning.
• 6:36
  Speaker 3: This is good news for the city.
• 6:37
  Speaker 6: Right, It's great news, it really is. I mean, it's
• 6:41
  Speaker 6: always sad to think of a business closing. This keeps
• 6:44
  Speaker 6: jobs for one hundred people. It's from our perspective, great
• 6:48
  Speaker 6: to see it stay in that particular area.
• 6:51
  Speaker 5: We've got a lot of you know.
• 6:53
  Speaker 6: Construction is still happening, but a positive future. I think
• 6:56
  Speaker 6: this is a good sign of confidence in the future
• 6:59
  Speaker 6: of Queen Street.
• 7:00
  Speaker 3: Is Queen Street going to actually become somewhere that you
• 7:02
  Speaker 3: go to. I was driving through there yesterday. It takes
• 7:06
  Speaker 3: you half an hour to get from one side to
• 7:07
  Speaker 3: the other. There's you know, I don't beggars, not homeless people,
• 7:13
  Speaker 3: but beggars, people who are agro on the street. It's
• 7:16
  Speaker 3: not a place you want to go at the moment.
• 7:18
  Speaker 6: Well, I think that's part of a challenge, and we've
• 7:21
  Speaker 6: raised all of these issues with counsel and at to
• 7:25
  Speaker 6: make this a better environment while we wait for the
• 7:28
  Speaker 6: CRL to open, which is CRL, the conventions, and there's
• 7:31
  Speaker 6: a lot of sort of milestone investments coming through in
• 7:36
  Speaker 6: the next couple of years. The safety has had.
• 7:39
  Speaker 7: A lot of work.
• 7:39
  Speaker 5: There's still work to do.
• 7:41
  Speaker 6: We accept that, but a lot of work has happened
• 7:44
  Speaker 6: and is happening as we speak. But I think it's
• 7:46
  Speaker 6: really looking to that period. It's a period from now
• 7:50
  Speaker 6: to when the CRL opens and the end at ICC
• 7:52
  Speaker 6: is open. There is a lot of investment which does
• 7:55
  Speaker 6: give positive shows the confidence in the future of Queen Street.
• 8:00
  Speaker 6: But I think as long as we get some progress
• 8:02
  Speaker 6: on the things we've been asking to happen in that
• 8:05
  Speaker 6: area to make it a better place for people and
• 8:08
  Speaker 6: business right now through this period, having Slip and Curry
• 8:11
  Speaker 6: live on in Queen Street is positive.
• 8:14
  Speaker 3: Yeah, I completely agree with you. It's a brilliant, iconic
• 8:17
  Speaker 3: store and to have some presence still there will be important.
• 8:21
  Speaker 3: Thank you very much for your time. Interesting that Becker
• 8:24
  Speaker 3: is talking about the City rail link is sort of
• 8:26
  Speaker 3: the light at the end of the tunnel. Once that
• 8:28
  Speaker 3: thing is done and you can see at the moment
• 8:30
  Speaker 3: in the city they've got the stations going up, you
• 8:33
  Speaker 3: can actually start to see how it will look. I
• 8:36
  Speaker 3: just hope the stations aren't filled with and I'm not
• 8:39
  Speaker 3: saying when I say beggars, I don't mean, you know,
• 8:41
  Speaker 3: homeless people who have issues. I'm talking about those super
• 8:45
  Speaker 3: aggressive ones who are there to make money. Basically, are
• 8:52
  Speaker 3: we going to have subways filled with them? Hopefully not.
• 8:54
  Speaker 4: News and Views you trust to start your day is
• 8:57
  Speaker 4: early edition with Ryan Bridge Smith City New Zealand's furniture,
• 9:01
  Speaker 4: Beds and a playing Store.
• 9:03
  Speaker 3: News Talk said be nineteen after five. Mark says the
• 9:07
  Speaker 3: CRL that's the city rail Link, isn't going to make
• 9:09
  Speaker 3: me visit downtown Auckland, No, Mark. I suppose it won't
• 9:13
  Speaker 3: be an attraction in and of itself, but I think
• 9:16
  Speaker 3: they're hoping that it will encourage and facilitate people to
• 9:20
  Speaker 3: be able to get into the city quicker, because at
• 9:23
  Speaker 3: the moment if you try and drive, it's a nightmare.
• 9:25
  Speaker 3: Nineteen ninety two to text nineteen a half to five.
• 9:28
  Speaker 3: The Motor Trade Association has come up with a retail
• 9:31
  Speaker 3: crime wish list for the government. It wants a bold,
• 9:34
  Speaker 3: innovative approach, increased security measures, more involvement from the police.
• 9:39
  Speaker 3: Is especially around the sharing of offending online. First Retail
• 9:43
  Speaker 3: Group Managing Director. First Retail is a retail business consultancy.
• 9:47
  Speaker 3: By the way, First Retail Group Managing Director Chris Wilkinson
• 9:51
  Speaker 3: is with me. Chris, good morning, Good morning, Ryan. How
• 9:54
  Speaker 3: are you im well? Thank you. One of the things
• 9:56
  Speaker 3: that caught my attention from this wish list from the
• 9:58
  Speaker 3: MTA is getting rebates on fuel taxes. This is the
• 10:04
  Speaker 3: businesses when fuel is stolen from them.
• 10:08
  Speaker 7: Absolutely. Look, I think this is something that very few
• 10:11
  Speaker 7: of us realized. But the reality is that these retailers
• 10:14
  Speaker 7: have to pay that tax whether they sell it or
• 10:18
  Speaker 7: it's stolen from them.
• 10:20
  Speaker 3: So they're wanting basically the government to give them, well,
• 10:24
  Speaker 3: not a handout, but to compensate for that.
• 10:28
  Speaker 7: Yeah, and when you think about it, it's entirely realistic.
• 10:32
  Speaker 7: You know, this is something that they would have otherwise
• 10:34
  Speaker 7: been able to claim the tax on and they're not
• 10:37
  Speaker 7: having that chance.
• 10:37
  Speaker 3: To How much do you know, is there a figure
• 10:40
  Speaker 3: on how much gas fuel is stolen?
• 10:43
  Speaker 7: Look, I don't have a figure on it, but the
• 10:45
  Speaker 7: reality is it's happening more and more and it's a
• 10:48
  Speaker 7: very challenging situation for the sector.
• 10:52
  Speaker 3: What about the prepaid because most places I would assume
• 10:55
  Speaker 3: have prepaid these days, so you avoid the problem altogether,
• 10:58
  Speaker 3: don't you.
• 11:00
  Speaker 7: Oh look in urban areas, yes, prepay is it's kind
• 11:06
  Speaker 7: of what's happening at the moment. But for many of
• 11:09
  Speaker 7: these retailers, they're in the provincial areas, you know, their
• 11:13
  Speaker 7: heart of community businesses that people visit on a daily
• 11:16
  Speaker 7: basis to get their milk, get their pies, to get
• 11:19
  Speaker 7: their lunch supplies. And having a prepay model, firstly, it's
• 11:24
  Speaker 7: an expensive thing. To implement, but for many of these
• 11:27
  Speaker 7: smaller retailers it's just not practical.
• 11:31
  Speaker 3: They want to share footage. So when you get some
• 11:34
  Speaker 3: you know, some homie turning up and stealing fuel and
• 11:40
  Speaker 3: it's caught on CCTV camera, they want to be sharing
• 11:43
  Speaker 3: this more. Do you agree with that?
• 11:46
  Speaker 7: Yeah? Absolutely, We've got to be much harder at the moment.
• 11:48
  Speaker 7: We're working over in the UK, and you know, there's
• 11:51
  Speaker 7: a real push now from the government and from the
• 11:55
  Speaker 7: businesses to start freeing up some of these privacy laws
• 11:58
  Speaker 7: because any of these offenders the hiding behind them they can.
• 12:03
  Speaker 3: Right, so you get your CCTV catches them, you know
• 12:07
  Speaker 3: it's them that's stolen something, but you can't show the
• 12:11
  Speaker 3: face online and say you know, this person stole from me,
• 12:14
  Speaker 3: because they have it hasn't been proven in a court
• 12:17
  Speaker 3: of law.
• 12:18
  Speaker 7: That's right. There are ways that these can be shared
• 12:21
  Speaker 7: within private networks quite legitimately. But I think that they're
• 12:25
  Speaker 7: starting to say, look, we know that people are hiding
• 12:28
  Speaker 7: behind these laws now and because of the changes in
• 12:33
  Speaker 7: the way this kind of activity is happening, the prevalence
• 12:36
  Speaker 7: of it and the impact it's having on our communities
• 12:38
  Speaker 7: and our economies that we need to actually get a
• 12:40
  Speaker 7: lot tougher.
• 12:42
  Speaker 3: Thanks so much for your time. Chris Wilkinson, First Retail
• 12:44
  Speaker 3: Group Managing Director, talking about the Motor Trade Association's wish
• 12:48
  Speaker 3: list for the government. One of those things is a
• 12:51
  Speaker 3: rebate on fuel taxes. It doesn't seem fair, does it.
• 12:54
  Speaker 3: Someone steals the fuel from you and you still have
• 12:57
  Speaker 3: to pay the tax to the government. It is twenty
• 13:00
  Speaker 3: three minutes after five.
• 13:04
  Speaker 4: The early edition full show podcast on iHeartRadio how It
• 13:08
  Speaker 4: By News.
• 13:08
  Speaker 1: Talks at Me.
• 13:10
  Speaker 3: The power was cut to my place last night. Don't worry.
• 13:12
  Speaker 3: It was expected. It was a maintenance thing. From one
• 13:15
  Speaker 3: in the morning or midnight through to five am, the
• 13:19
  Speaker 3: heating was off. It was chilly. I think it was
• 13:21
  Speaker 3: six degrees in Auckland last night. Not as bad as
• 13:24
  Speaker 3: you zero in christ Church, granted, but boy does it
• 13:28
  Speaker 3: make you think how important electricity is. You don't know
• 13:31
  Speaker 3: what you've got till it's gone. You wake up, you know, freezing,
• 13:35
  Speaker 3: you've got fripples, you've got a cold foot hanging out
• 13:39
  Speaker 3: the bed, you're fumbling around in your undies trying trying
• 13:44
  Speaker 3: to find undies because it's dark. You know, it's quite important.
• 13:47
  Speaker 3: To have electricity right, and you don't know how good
• 13:50
  Speaker 3: it is till it's gone. So too for major key
• 13:54
  Speaker 3: industry who are feeling the cold, hard reality at the
• 13:56
  Speaker 3: moment of life without energy, without gas. Two stories in
• 14:00
  Speaker 3: the last couple of days that caught my attention. One
• 14:02
  Speaker 3: was methin X, which produces methanol. They've got two hundred
• 14:07
  Speaker 3: and seventy staff. Six hundred and forty million dollars is
• 14:10
  Speaker 3: what they're worth to the Taranaki economy, more close to
• 14:14
  Speaker 3: a billion to the national economy, eight percent of Taranaki's GDP,
• 14:19
  Speaker 3: and they are reviewing operations in New Zealand. They're running
• 14:23
  Speaker 3: at half capacity. Why a lack of gas dwindling supply
• 14:28
  Speaker 3: from existing gas fields. The spot market is shooting up
• 14:32
  Speaker 3: going through the roof. Wholesale prices are up. You can't
• 14:35
  Speaker 3: get a contract. The business is the equivalent of stumbling
• 14:40
  Speaker 3: around in the dark at the moment. There's no certainty.
• 14:42
  Speaker 3: They can't get affordable contracts, so business is suffering. The
• 14:47
  Speaker 3: other story, the largest employer in Uapehu District two hundred
• 14:52
  Speaker 3: and fifty people employed at this pulp mill and sawmill.
• 14:55
  Speaker 3: They've paused their operations. Why energy costs up six hundred
• 15:00
  Speaker 3: percent since twenty twenty one. There's a fourteen day pause
• 15:04
  Speaker 3: going on there while they consider their future. This is
• 15:06
  Speaker 3: not good. Some are talking about a manufacturing exodus. This
• 15:12
  Speaker 3: is what we're seeing. It will hurt small town New Zealand.
• 15:16
  Speaker 3: And these are good jobs. There are jobs that feed families.
• 15:20
  Speaker 3: Is this a surprise. No. Twenty eighteen MB rang the
• 15:25
  Speaker 3: alarm bells about the government's oil and gas ban quite loudly,
• 15:30
  Speaker 3: I might add, and I'll just read you a little
• 15:33
  Speaker 3: bit from what was written at the time in twenty eighteen.
• 15:37
  Speaker 3: This is a briefing paper from the Ministry of Business,
• 15:39
  Speaker 3: Innovation and Employment given to then Energy Minister Megan Woods.
• 15:45
  Speaker 3: It said METHODEX would not be able to operate at
• 15:48
  Speaker 3: full capacity from twenty twenty one and would stop completely
• 15:52
  Speaker 3: after twenty twenty six. Method X will require a new
• 15:56
  Speaker 3: discovery if it is to continue operating in New Zealand
• 16:00
  Speaker 3: over the medium to long term. So we had the warning.
• 16:04
  Speaker 3: Now it is happening, and the government promised a just
• 16:09
  Speaker 3: transition at the time. Where is that Show me the
• 16:12
  Speaker 3: jobs to replace the potentially hundreds that are on the
• 16:15
  Speaker 3: line right now? Feels a little bit like we're fumbling
• 16:19
  Speaker 3: around in the dark at the moment. Twenty eight after five,
• 16:22
  Speaker 3: Ryan Bridge, we're going to look at interest rates just
• 16:25
  Speaker 3: before six o'clock. I'm very keen to hear from Mark Smith,
• 16:28
  Speaker 3: asb's senior economists, what is the magic number we need
• 16:31
  Speaker 3: from the jobs data today? Plus China says they're squeaky
• 16:35
  Speaker 3: clean when it comes to the Olympics and cheating doping.
• 16:39
  Speaker 3: Do you believe them? Well? Look at that. A really
• 16:42
  Speaker 3: interesting Oxford report too, which we'll touch on how much
• 16:46
  Speaker 3: these games are costing Paris and how much they expect
• 16:50
  Speaker 3: is going to cost Ala and Brisbane because they're the
• 16:53
  Speaker 3: next two hosts coming up as well. It is news
• 16:57
  Speaker 3: time here on News Talk ZB not of.
• 17:01
  Speaker 11: Will but then say where a sl you the door?
• 17:07
  Speaker 1: I don't love your bad.
• 17:12
  Speaker 11: That this game I'm doing, But.
• 17:20
  Speaker 10: Where talk door?
• 17:38
  Speaker 4: Ryan Bridge? You for twenty twenty four on early edition
• 17:42
  Speaker 4: with Smith City New Zealand's furniture bids at applying store
• 17:45
  Speaker 4: News Talk Sid.
• 17:46
  Speaker 11: Bey suck down, No, sadly you break owns.
• 18:00
  Speaker 3: Twenty four away from six here on News Talks. They'd
• 18:02
  Speaker 3: be great to have your company this morning. Interesting report
• 18:05
  Speaker 3: from Oxford University is Paris winning the Olympics, do we
• 18:09
  Speaker 3: think in terms of showing off the city France more generally?
• 18:14
  Speaker 3: Are they winning or are they losing? Financially? It's not
• 18:17
  Speaker 3: looking great. This report reckons taxpayers will promise it had
• 18:21
  Speaker 3: cost eight point seven billion US dollars actual thirteen point
• 18:26
  Speaker 3: four billion US dollars. And apparently every games since nineteen
• 18:32
  Speaker 3: sixty has cost more than promised. Fifty seven percent of
• 18:36
  Speaker 3: those cases, the end cost had at least doubled on
• 18:39
  Speaker 3: what was originally advised to taxpayers, because obviously the politicians
• 18:45
  Speaker 3: want to downplay how much it's going to cost and
• 18:47
  Speaker 3: then look at it skyrocket. They've done estimates. I don't
• 18:51
  Speaker 3: know how they do this, but they've done estimates on
• 18:54
  Speaker 3: how much they think it will cost. Ala and Brisbane,
• 18:57
  Speaker 3: who are the next to host the Olympic Games, they
• 19:00
  Speaker 3: reckon La twenty twenty eight is already twenty eight percent
• 19:04
  Speaker 3: over what was budgeted originally, Brisbane forty four percent already
• 19:10
  Speaker 3: over what was budgeted and it's still eight years away.
• 19:14
  Speaker 3: So is it worth it? You know, does watching these
• 19:17
  Speaker 3: Olympics make you want to go to Paris jump in
• 19:19
  Speaker 3: the river sen You know, they're now known for Frog's
• 19:23
  Speaker 3: champagne and e Colon. I don't know, it is beautiful.
• 19:27
  Speaker 3: It is nice to watch. Hey. Trump has released already
• 19:30
  Speaker 3: an attack ad on Minnesota Governor Tim Waltz, who Kamala
• 19:34
  Speaker 3: Harris has chosen as her running mate. Have a listen.
• 19:37
  Speaker 12: Kamala Harris just doubled down on her radical vision for
• 19:40
  Speaker 12: America by tapping another left wing extremist as her VP nominee.
• 19:46
  Speaker 12: Tim Waltz will be a rubber stamp for Kamala's dangerously
• 19:49
  Speaker 12: liberal agenda like allowing convicted felons to walk free, embracing
• 19:53
  Speaker 12: anti American Green New Deal policies, and giving up control
• 19:57
  Speaker 12: of our southern border to criminal aliens, and finally drug hotels.
• 20:01
  Speaker 12: Kamala Harris and Tim Waltz, they're failed, weak and dangerously liberal.
• 20:07
  Speaker 3: Ryan Bridge, right, twenty two minutes away from Sex. Why
• 20:12
  Speaker 3: don't we have ads like that here? Let's go to
• 20:15
  Speaker 3: our reporters around the country, Color Proctors and Dunedin this morning, Callum,
• 20:19
  Speaker 3: good morning to you. The council's got a bit of
• 20:21
  Speaker 3: a tree bill. Yeah, morning, Ryan.
• 20:25
  Speaker 13: The city council here digging out thousands of dollars to
• 20:28
  Speaker 13: replace damaged plants and ratepayers aren't happy. Three new beach
• 20:32
  Speaker 13: trees were damaged by vandals on the recently upgraded George
• 20:35
  Speaker 13: Street retail quarter sometimes Sunday or early Monday morning. A
• 20:40
  Speaker 13: council spokesperson says the trees will be replaced over the
• 20:43
  Speaker 13: coming weeks for about five thousand dollars each. Ratepayers have
• 20:48
  Speaker 13: been quick to express their anger over that price, saying
• 20:50
  Speaker 13: surely there's less expensive options, or perhaps don't replace them
• 20:54
  Speaker 13: at all. The council says the price is because the
• 20:56
  Speaker 13: plants need to be the right shape, maturity and trunk
• 20:59
  Speaker 13: size and have to be stalled with heavy lifting equipment.
• 21:02
  Speaker 13: They have filed a complaint with police for anyone and
• 21:06
  Speaker 13: encourage anyone with information.
• 21:08
  Speaker 3: To report it. Right weather today callum fine.
• 21:12
  Speaker 13: For deneed and mostly cloud increasing this afternoon northerleies and
• 21:15
  Speaker 13: fifteen brilliant.
• 21:15
  Speaker 3: Thank you. Michael Sergles with christ Church. This morning, we've
• 21:19
  Speaker 3: heard from the family of the Kiwi helicopter pilot killed
• 21:23
  Speaker 3: in Indonesia.
• 21:23
  Speaker 2: Michael, Yes, fifty year old Glynn Conning was well known
• 21:26
  Speaker 2: in South Island aviation circles and helped fight those fires
• 21:29
  Speaker 2: that we had on the hills earlier this year. Connin's father,
• 21:32
  Speaker 2: Bell taught his son to fly at motworka airport, and
• 21:35
  Speaker 2: since he was a respected and well known pilot, The
• 21:37
  Speaker 2: Coning family say they're heartbroken by the loss. They appreciate
• 21:40
  Speaker 2: all the love and support they've received. The family say
• 21:43
  Speaker 2: that he was the most curing and loving husband and
• 21:45
  Speaker 2: dad to his girls, and he is truly loved by
• 21:48
  Speaker 2: his family and friends.
• 21:49
  Speaker 3: Very very sad. Indeed, how's the weather in christ Church, Michael?
• 21:53
  Speaker 2: Areas of morning FoST and fog clearing to a fine
• 21:56
  Speaker 2: afternoon before clouds are back tonight. The high thirteen degrees brilliant,
• 21:59
  Speaker 2: Thank you very much.
• 22:00
  Speaker 3: Mex toll Is in Wellington, MAX life changing surgery overseas
• 22:04
  Speaker 3: for a Wellington teenager.
• 22:07
  Speaker 14: Yeah, a nice story in the Capitol. Enough money has
• 22:09
  Speaker 14: now been raised via Give a Little for fifteen year
• 22:12
  Speaker 14: old Julia Chocquette to have specialist surgery in Germany. Surgery unavailable,
• 22:17
  Speaker 14: unavailable obviously here in New Zealand. Julia can't eat or drink.
• 22:21
  Speaker 14: She's not been to school in sixty sixteen months. Thirty
• 22:24
  Speaker 14: two thousand more was raised by her school, Queen Margaret's College,
• 22:27
  Speaker 14: So she's going over in October. What she has is
• 22:30
  Speaker 14: a condition known as a multiple abdominal vascular compression syndromes
• 22:34
  Speaker 14: and Hope hypermobile ailas dan Loos syndrome. So obviously a
• 22:38
  Speaker 14: very rare disorder, something she became ill with. She wasn't
• 22:42
  Speaker 14: born with it. Previously, she was a competitive cheerleader, a debater,
• 22:46
  Speaker 14: she played the violin. Now she lives with a nasal tube,
• 22:49
  Speaker 14: suffers from some pretty horrific symptoms. The surgery takes a
• 22:52
  Speaker 14: year to recover from, but from October she's on the way.
• 22:56
  Speaker 3: Well that is great news and dued Max, thank you.
• 22:59
  Speaker 3: How's the weather?
• 23:00
  Speaker 14: It should be fine once it starts to warm up,
• 23:02
  Speaker 14: but a cloud later on thirteen the high Central.
• 23:05
  Speaker 3: Did you feel that earthquake yesterday? It did? It woke
• 23:07
  Speaker 3: me up?
• 23:08
  Speaker 10: Yeah?
• 23:08
  Speaker 3: Ah what time?
• 23:10
  Speaker 14: Just before midnight? I'll tell you what though people always
• 23:13
  Speaker 14: go online and rate these things as strong or severe.
• 23:16
  Speaker 14: You know, I'm from christ Church. I know what a
• 23:18
  Speaker 14: strong earthquake is, and that was not a strong earthquake
• 23:20
  Speaker 14: in your battle hardened day, Max, exactly, Thank you very much.
• 23:23
  Speaker 14: Saniva really manas an Auckland, Neva.
• 23:24
  Speaker 3: Good morning, good morning.
• 23:26
  Speaker 15: He is battle hard, isn't he? If that was us
• 23:28
  Speaker 15: up here. If that was me or it was one
• 23:30
  Speaker 15: on the Richter scale, we'll.
• 23:31
  Speaker 6: Go, oh my god, help help Have.
• 23:33
  Speaker 3: You been putting in your EQC claims exactly, Hey, it's
• 23:37
  Speaker 3: telling about the zombie fish.
• 23:39
  Speaker 13: Zombie fish.
• 23:40
  Speaker 15: Well, look this aliuminium pollution. Now this could be to
• 23:43
  Speaker 15: blame for the mysterious zombie fish. Now, some of this
• 23:46
  Speaker 15: fish has been found around the North Island. So a
• 23:49
  Speaker 15: fisherman coined the tomb after catching a snapper. Now the snapperhead, cloudy,
• 23:54
  Speaker 15: bloodshot eyes, sunk it into the face, missing flesh and
• 23:57
  Speaker 15: bone sticking out. Oh sounds like a zombie anyway. The
• 24:01
  Speaker 15: fish with the zombie like symptoms have been found around Raglan,
• 24:05
  Speaker 15: Fungda Harbor, Kaiper Paika, Kadiki and Fisheries. New Zealand is
• 24:09
  Speaker 15: testing them for aluminium. This is after the levels in
• 24:12
  Speaker 15: the Northern Wide All River at Dargaville they were found
• 24:14
  Speaker 15: to be thirty times the guideline. So until testing is finished,
• 24:18
  Speaker 15: they're saying, you know, don't eat the fish with the symptoms.
• 24:21
  Speaker 15: I mean, who's going to eat the fish like that?
• 24:23
  Speaker 16: No?
• 24:23
  Speaker 15: I love good snapper though, snapper and chips.
• 24:25
  Speaker 3: Not zombie snapper.
• 24:26
  Speaker 5: No way.
• 24:27
  Speaker 3: Yeah, Creet, how's the weather today?
• 24:28
  Speaker 15: Nev fine today, we've got patches of morning for frost
• 24:31
  Speaker 15: and sheltered places. I mean for Auckland. We're going for
• 24:33
  Speaker 15: a higher fifteen. But this is pretty cold for us
• 24:35
  Speaker 15: because we're currently on four degrees. The rest of the
• 24:38
  Speaker 15: country we're going hard en up.
• 24:41
  Speaker 3: It was zero and christ chitch overnight. But you're right,
• 24:43
  Speaker 3: really four degrees right, yes, all right, never, thank you
• 24:46
  Speaker 3: very much. It has just gone seventeen away from six
• 24:49
  Speaker 3: year old. News talk said b coming up next. Elon
• 24:51
  Speaker 3: Musk says civil war is inevitable in the UK. The
• 24:57
  Speaker 3: governments responded sixteen minutes from sorry, fourteen minutes away from six.
• 25:02
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• 25:06
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• 26:06
  Speaker 4: INZ International correspondence with insidn Eye Insurance Peace of Mind
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• 26:13
  Speaker 3: The riots spinning violent in the UK. Devin Gray's a
• 26:16
  Speaker 3: UK and Europe correspondent, Gavin Good to have you on
• 26:19
  Speaker 3: the program this morning. What's Elon Musk talking about civil war?
• 26:25
  Speaker 16: Yeah? Very interesting, Ryan, So he's tweeted but on X
• 26:29
  Speaker 16: that he said civil war is inevitable. It was in
• 26:32
  Speaker 16: response to a video showing people aiming fireworks at police.
• 26:37
  Speaker 16: The Prime minister spokesperson hit backs and there's absolutely no
• 26:40
  Speaker 16: justification and said that actually social media companies should be
• 26:44
  Speaker 16: doing more in order to control some of the wild
• 26:48
  Speaker 16: rumors sweeping on it and the fact they're being used
• 26:50
  Speaker 16: as sort of invitations to come and organize a riot
• 26:53
  Speaker 16: sort of thing. Anyway, it wasn't over then, because an
• 26:57
  Speaker 16: Elon Musk replied saying that Sekir Starmer, our prime minister
• 27:02
  Speaker 16: has said he would not tolerate a tax on mosques
• 27:05
  Speaker 16: or Muslim communities, to which Elon muslis, well, shouldn't you
• 27:09
  Speaker 16: be concerned about a tax on all communities? He said?
• 27:13
  Speaker 16: When he saw a video of a person being arrested
• 27:15
  Speaker 16: for offensive comments online, he asked, is this Britain or
• 27:18
  Speaker 16: the Soviet Union. I can't see ran this row ending
• 27:22
  Speaker 16: anytime soon. I don't think Elon Musk will start tweeting
• 27:25
  Speaker 16: stop tweeting, and I don't think that we are going
• 27:28
  Speaker 16: to see the Prime minister back down either. This disorder,
• 27:32
  Speaker 16: as you pointed out, has now lasted a week and
• 27:35
  Speaker 16: now the government is citing that it may well start
• 27:37
  Speaker 16: to use terrorism legislation in order to take some of
• 27:41
  Speaker 16: those responsible to court.
• 27:44
  Speaker 3: Goodness, mate, the man's been hospitalized as well. This is
• 27:47
  Speaker 3: in Belfast, Yeah, and.
• 27:49
  Speaker 16: I think it's an indication of the fact that this
• 27:52
  Speaker 16: is not just about far right motives or about immigration,
• 27:56
  Speaker 16: because police in Belfast, in Northern Ireland are saying that
• 27:59
  Speaker 16: this attack, which left this man in his fifties really
• 28:02
  Speaker 16: pretty seriously injured and he's in a hospital, definitely included
• 28:08
  Speaker 16: a paramilitary element. What does that mean where you'll remember
• 28:11
  Speaker 16: the struggles and the troubles in Ireland, Northern Ireland in
• 28:15
  Speaker 16: the seventies and eighties and the terrorism element there and
• 28:20
  Speaker 16: in this particular issue, witnesses reported seeing attack, a stamp
• 28:24
  Speaker 16: on this man's head. They believe it was racially motivated,
• 28:27
  Speaker 16: while other members of the public tried to shield this man.
• 28:31
  Speaker 16: There was prior to the attack a lot of petrol
• 28:34
  Speaker 16: bomb throwing, masonry and bricks also thrown towards police and
• 28:38
  Speaker 16: a land rover from the Police Service of Northern Ireland
• 28:41
  Speaker 16: set alite. Up to one hundred people involved. Three hundred
• 28:44
  Speaker 16: police officers trying to keep the beast. We've been sephalite
• 28:48
  Speaker 16: and stones thrown pretty ugly scenes. And here we are
• 28:52
  Speaker 16: just one week one and still on a nightly basis,
• 28:55
  Speaker 16: we're hearing a different disorder in different cities.
• 28:58
  Speaker 3: Yeah, and Devin, thank you for that update. Given Gray
• 29:00
  Speaker 3: are UK and you're correspondent. It has just gone ten to.
• 29:03
  Speaker 4: Six grayan Bridge.
• 29:05
  Speaker 3: It is a big day today for mortgage holders. Basically,
• 29:08
  Speaker 3: are enough people out of work to force the ocr down,
• 29:11
  Speaker 3: thereby taking the pressure off our mortgages. Unemployment data for
• 29:15
  Speaker 3: the June quarter is out today. The Reserve Bank is
• 29:18
  Speaker 3: expecting unemployment rate to rise to four point six percent.
• 29:22
  Speaker 3: It's currently at four point three percent for quarter one, A,
• 29:25
  Speaker 3: n Z, ASB, Kiwibank, Westpac they all predict an increase
• 29:29
  Speaker 3: to four point seven percent, B and Z saying four
• 29:31
  Speaker 3: point six, joining me in ours ASB Senior economist Mark Smith, Mark,
• 29:35
  Speaker 3: good morning, good morning. What's the magic number? Do you
• 29:39
  Speaker 3: think what is the magic number we would need to
• 29:41
  Speaker 3: see today in order for their to be a cut,
• 29:44
  Speaker 3: say next week?
• 29:47
  Speaker 5: Well probably that's the higher the numbers are more likely
• 29:50
  Speaker 5: you'd like to see a cat It's not just the
• 29:53
  Speaker 5: unemployment rate, but also things like labor, cops and wages
• 29:56
  Speaker 5: that the Reserve Bank are looking at very closely.
• 30:00
  Speaker 3: Will they how how well to what extent is it
• 30:04
  Speaker 3: the job's data versus that sticky domestic infation that we've
• 30:08
  Speaker 3: been watching.
• 30:09
  Speaker 5: Yeah, I think what we've seen is we've gone from
• 30:12
  Speaker 5: a period a few years ago where firms have been
• 30:14
  Speaker 5: hoarding labor. It's now a where firms are actually shedding
• 30:17
  Speaker 5: labor because the demind of environment is so weak and
• 30:20
  Speaker 5: they're having to do that. Also, firms profitability now is
• 30:24
  Speaker 5: very dire, you know, the weakest in about thirty years
• 30:27
  Speaker 5: as the share of income, So they're really in position
• 30:30
  Speaker 5: now where they can't really afford to hold on to
• 30:32
  Speaker 5: staff and had to let them guards. Now, when that happens,
• 30:36
  Speaker 5: what we'd like to see is this labors share of
• 30:38
  Speaker 5: income is lately to fall and inflation will fall as well.
• 30:42
  Speaker 5: So all of these things are interlinked. But really when
• 30:45
  Speaker 5: we see more spare capacity growing in a labor market
• 30:48
  Speaker 5: with the unemployment rate going up, that meets that inflation
• 30:51
  Speaker 5: will eventually go down, and that meant that means their
• 30:54
  Speaker 5: official cash rate needs to come down as well.
• 30:56
  Speaker 3: The Aussies are playing hardball. Yesterday the Reserve Bank there
• 31:01
  Speaker 3: no cuts till twenty twenty five. That sort of thing.
• 31:05
  Speaker 3: Do you do you believe.
• 31:06
  Speaker 5: Them, Well, it's hard to say at the moment. Bear
• 31:11
  Speaker 5: in mind the Australian official their cash rate is four
• 31:14
  Speaker 5: point three five per se ours is five and a half,
• 31:17
  Speaker 5: so that they're completely different. Also, the Australian economy is
• 31:20
  Speaker 5: doing better than the New Zealand economy. For example, the
• 31:23
  Speaker 5: Australian housing market is still doing very well. We're here,
• 31:26
  Speaker 5: it's down the dumps. New Zealand is I think in
• 31:30
  Speaker 5: and out of recession. I would like to see a
• 31:32
  Speaker 5: size or contraction economic activity and in the middle of
• 31:35
  Speaker 5: the share So things in New Zealand are dire and
• 31:38
  Speaker 5: we're really to see the oci come down How.
• 31:41
  Speaker 3: Much because obviously the committee that decides this, they're all
• 31:44
  Speaker 3: humans and they can see themselves presumably how much hurt
• 31:49
  Speaker 3: there is out there on main street? How much do
• 31:52
  Speaker 3: they do you reckon? They actually listen to that noise,
• 31:55
  Speaker 3: you know, to that political pressure as well.
• 31:58
  Speaker 5: Well. They're obviously continent what's happening around them, you know,
• 32:02
  Speaker 5: and it's pretty clear how weak things are. But really
• 32:05
  Speaker 5: they've written inflation targe to meet first, and at the
• 32:08
  Speaker 5: moment inflation is at three point three percent now if
• 32:11
  Speaker 5: you take out costs, for example, that it's already below
• 32:14
  Speaker 5: three percent. So from that point of view, yes they
• 32:17
  Speaker 5: should be COEOCA, but they want to make sure that
• 32:20
  Speaker 5: inflation will settle below three percent before cutting. But you're right.
• 32:24
  Speaker 5: You look around you. The unumplement rate is going. We
• 32:27
  Speaker 5: expect to hit a round five and a half percent
• 32:29
  Speaker 5: by the end of the year and it's on track
• 32:31
  Speaker 5: to move around six percent by both sort of next
• 32:34
  Speaker 5: year as well. So things that are certainly calling and
• 32:37
  Speaker 5: there is certain needs for the SEO to come down.
• 32:40
  Speaker 3: Mark. Thank you. That's Mark Smith, the ASP senior economist.
• 32:42
  Speaker 4: The news you need this morning and the in depth
• 32:45
  Speaker 4: analysis early edition with Ryan Bridge and fis City, New
• 32:49
  Speaker 4: Zealand's Furniture Beds and a playing store News Talks.
• 32:52
  Speaker 3: It'd be five to six. We've been talking about the
• 32:55
  Speaker 3: gas shortage, the gas spot prices going through the roof
• 32:58
  Speaker 3: and how that's affecting met The next the big employer
• 33:01
  Speaker 3: in Tartanaki. This is from John Hi.
• 33:03
  Speaker 16: Ryan.
• 33:03
  Speaker 3: I've been a maintenance contractor at Methnex for over twenty years.
• 33:07
  Speaker 3: A month ago I got laid off because of the
• 33:09
  Speaker 3: lack of gas. We were setting up from major maintenance programs,
• 33:12
  Speaker 3: which has now been postponed because the plant is operating
• 33:16
  Speaker 3: at such a low level. Mike hoskings here and is
• 33:19
  Speaker 3: with us next. Good morning, very good morning to you.
• 33:21
  Speaker 17: We talk to Prime Minster about that yesterday and it
• 33:23
  Speaker 17: makes no sense because there's no alternative. The only alternative,
• 33:25
  Speaker 17: I mean, until the wind comes in and the sunflower
• 33:28
  Speaker 17: oil and all the other things that they're going to
• 33:29
  Speaker 17: save the world with. Until that, You've got coal, haven't it. Really,
• 33:32
  Speaker 17: If it doesn't rain, you've got coal. If you haven't
• 33:34
  Speaker 17: got gas, you haven't got oil, you've got coal.
• 33:36
  Speaker 3: Basically, at the end of the.
• 33:37
  Speaker 17: Day, our councils and other council today is having a
• 33:39
  Speaker 17: boat on those murray wards. You know how the laws changed,
• 33:42
  Speaker 17: and if you've got a murray warden you didn't go
• 33:44
  Speaker 17: to the people, you're going to have to go to
• 33:45
  Speaker 17: the people or kill the board. So there's a number
• 33:47
  Speaker 17: of councils up and down the country at the moment
• 33:49
  Speaker 17: voting on that.
• 33:50
  Speaker 3: So we shall have a look at this, brilliantus. Obviously
• 33:53
  Speaker 3: you'll be on the job's numbers. Job's number two. Right.
• 33:57
  Speaker 3: That's it for me. I will see you tomorrow. Mike
• 33:59
  Speaker 3: is with you next.
• 34:00
  Speaker 13: Leaf labor or hanging out the passenger door.
• 34:09
  Speaker 4: For more from Used Talk set B Listen live on
• 34:12
  Speaker 4: air or online, and keep our shows with you wherever
• 34:15
  Speaker 4: you go with our podcasts on iHeartRadio