Latest / Early Edition with Ryan Bridge / Full Show Podcast: 17 September 2026

Transcript

Full Show Podcast: 17 September 2026 · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: The issues, the interviews and the insight. Ryan Bridge on
• 0:05
  Speaker 1: Early Edition with Spark for Business. Technology that keeps business moving.
• 0:09
  Speaker 2: Newstalk ZB. Very good morning. Six after five. Great to
• 0:12
  Speaker 2: have your company. Is she serious? The blowback to Nicola
• 0:15
  Speaker 2: Willis and the supermarket plan is real. Cam bag on
• 0:17
  Speaker 2: today's GDP number. We'll head to the US. We've got
• 0:20
  Speaker 2: a Fed rate decision due in about an hour's time.
• 0:22
  Speaker 2: Speaking of the Americans, they're sending pretzels to Newmarket. Thursday
• 0:29
  Speaker 2: the 17th of September, Trump's pushing Canada into Europe's arms.
• 0:32
  Speaker 2: There's a bit of a Carnie-Von der Leyen-Loven happening right now.
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  Speaker 3: Europe and Canada believe in democracy. That power does not
• 0:40
  Speaker 3: belong to the strongest, richest and loudest, but to all
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  Speaker 3: of us. This is not a partnership against anyone else,
• 0:49
  Speaker 3: but for our common strength.
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  Speaker 4: In short.
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  Speaker 3: We want to bring the relationship with Canada to the
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  Speaker 3: highest level possible.
• 0:59
  Speaker 2: Not quite the highest. Canada will become the EU's first
• 1:02
  Speaker 2: associate member.
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  Speaker 5: We're not looking to become a member of the European Union.
• 1:06
  Speaker 5: What we are looking and beginning, we'll begin discussions for
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  Speaker 5: a unique alliance. We share the same values. We have
• 1:12
  Speaker 5: the same priorities. And we have very complementary strengths.
• 1:17
  Speaker 2: Right, let's go to the UK. They've spent the past
• 1:18
  Speaker 2: 12 hours desperately looking for this three-year-old boy. He's autistic, non-verbal,
• 1:23
  Speaker 2: went missing, seen running from a playground on CCTV. Anyway,
• 1:26
  Speaker 2: they've just done an update to see that sadly a
• 1:28
  Speaker 2: body has been found.
• 1:29
  Speaker 6: The discovery of the body is currently being treated as
• 1:31
  Speaker 6: not suspicious but unexplained. The coroner will be informed of
• 1:35
  Speaker 6: this development. Since no one was reported as missing, officers
• 1:39
  Speaker 6: have carried out multiple inquiries. including the deployment of specialist
• 1:43
  Speaker 6: search officers and dog units, and receive support from various agencies,
• 1:48
  Speaker 6: including helicopters from the National Police Air Service and HM
• 1:53
  Speaker 6: Coast Guard.
• 1:54
  Speaker 2: How much do they hate migrants in the UK? Well,
• 1:57
  Speaker 2: illegal migrants that cross over the Channel and then get
• 2:01
  Speaker 2: put in hotels. Quite a lot. So much so, the
• 2:04
  Speaker 2: little town called Pittington, you've never heard of it, has
• 2:07
  Speaker 2: voted to leave Britain. It's a symbolic referendum. They are
• 2:11
  Speaker 2: planning to house 1,200 migrants nearby. 285 yes votes.
• 2:15
  Speaker 7: We are Piddington.
• 2:21
  Speaker 8: The village that roars.
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  Speaker 7: When I first learnt about the number, 1,258 single men,
• 2:27
  Speaker 7: I spoke with Callum Miller, who is the Liberal Democrat
• 2:30
  Speaker 7: MP for the area, and I asked him the very
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  Speaker 7: simple question, why is it only men? Where are the
• 2:35
  Speaker 7: women and families? If these are true asylum seekers, where
• 2:38
  Speaker 7: are the women and families?
• 2:40
  Speaker 2: Very good question. A piddly little piddlington. Anyway, it's not
• 2:44
  Speaker 2: legally binding. Pretty clear show of local opposition. Here's Burnham.
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  Speaker 9: Well, I understand the strength of feeling, um... and that's
• 2:52
  Speaker 9: something that is across the country. But the only thing
• 2:57
  Speaker 9: to do is to get the numbers down, the number
• 3:00
  Speaker 9: of crossings down, and they are significantly down.
• 3:04
  Speaker 1: News and views you trust to start your day. It's
• 3:08
  Speaker 1: Early Edition with Ryan Bridge and Spark for Business. Technology
• 3:12
  Speaker 1: that keeps business moving.
• 3:14
  Speaker 2: Newstalk ZB. 9292 is the number to text. Love to
• 3:17
  Speaker 2: hear your views, especially on the sort of smash-up, the break-up,
• 3:21
  Speaker 2: the bust-up of foodstuffs. 9292. Britain, by the way, while
• 3:26
  Speaker 2: we're there, they have just seen a little tick up
• 3:29
  Speaker 2: in inflation. This is from July to August from 2.9%
• 3:31
  Speaker 2: to 3.1%, despite that this is petrol, this is energy.
• 3:35
  Speaker 2: Bank of England expected to hold rates steady. They're going
• 3:38
  Speaker 2: to do that later this week. Speaking of rates, just wait,
• 3:43
  Speaker 2: brace yourselves, incoming Trump missile today, potentially a truth social
• 3:47
  Speaker 2: tirade from the president, because in about an hour's time,
• 3:51
  Speaker 2: we're going to get Well, if you believe the markets
• 3:53
  Speaker 2: and the markets are right in what they're predicting, first
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  Speaker 2: interest rate increase in the US since 2023, if Walsh
• 4:02
  Speaker 2: is serious about inflation or if he loses the room
• 4:06
  Speaker 2: and if the markets are right, then Trump will go ballistic,
• 4:09
  Speaker 2: won't he? Because it's the opposite of what he wants
• 4:11
  Speaker 2: them to do. Anyway, the conflict in the Middle East,
• 4:14
  Speaker 2: pushing up oil price, same story everywhere, boosting inflation expectations,
• 4:17
  Speaker 2: all that stuff. So we'll wait and see. We will
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  Speaker 2: brace ourselves for that. Also, I note, you know, last week, yes,
• 4:25
  Speaker 2: last week spoke to Winston Peters about the situation with
• 4:28
  Speaker 2: the Houthis in Yemen. And he said, oh, don't worry,
• 4:31
  Speaker 2: the Chinese will get involved. Well, the Chinese are getting
• 4:33
  Speaker 2: involved because they've got skin in the game here. This
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  Speaker 2: is oil. So the foreign ministers of Iran and China
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  Speaker 2: are talking about this in Beijing today. Beijing does not
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  Speaker 2: want more bombs. in Yemen, does not want the Houthis
• 4:47
  Speaker 2: getting control of more port cities in Yemen, wants the
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  Speaker 2: oil to flow. Thank you very much. 11 after five.
• 4:53
  Speaker 1: Ryan Bridge.
• 4:55
  Speaker 2: Time is 11, well, I've just said that, haven't I?
• 4:57
  Speaker 2: 11 minutes after five. I'm just reading your text messages
• 5:00
  Speaker 2: as they come in. A lot of advice for Nicola Willis,
• 5:05
  Speaker 2: I have to say on this. And I wonder, I
• 5:07
  Speaker 2: just wonder whether they have overcooked it just slightly on
• 5:12
  Speaker 2: this foodstuffs announcement. I'll tell you what I really think
• 5:15
  Speaker 2: about it in about 10 minutes' time, but next we'll
• 5:17
  Speaker 2: go to Cameron Bagri and look at today's GDP number.
• 5:21
  Speaker 2: Newstalk ZB.
• 5:30
  Speaker 1: The first word on the news of the day. Early
• 5:33
  Speaker 1: Edition with Ryan Bridge and Spark for Business. Technology that
• 5:37
  Speaker 1: keeps business moving.
• 5:39
  Speaker 2: Newstalk ZB. 5.13, Ryan, instead of spending billions of dollars
• 5:42
  Speaker 2: of our money, well, they're not really spending billions of
• 5:45
  Speaker 2: dollars of our money. It's going to save billions of
• 5:47
  Speaker 2: dollars of our money. If you believe what was in
• 5:49
  Speaker 2: this Sense Partners report done for MB yesterday that Nicola
• 5:53
  Speaker 2: Willis keeps referring to, this person says, why don't you
• 5:55
  Speaker 2: just remove GST from all food items? Jeff Well, good point, Jeff.
• 6:00
  Speaker 2: I mean, if you look at the price difference between
• 6:02
  Speaker 2: New Zealand and Australia, New Zealand and the UK or Ireland,
• 6:05
  Speaker 2: a bunch of other places, the difference... is often GST. Ryan,
• 6:10
  Speaker 2: National have shown, this is from Mark, National have shown
• 6:12
  Speaker 2: their true left selves by promoting the breakup of a
• 6:16
  Speaker 2: private business. Nicola Willis has no idea where the centre is,
• 6:20
  Speaker 2: 14 after 5. More on that soon. Later today, we'll
• 6:24
  Speaker 2: find out the impact of the Middle East war had
• 6:25
  Speaker 2: on our economy. This is June quarter GDP, Q2 GDP
• 6:29
  Speaker 2: number out today. Most people reckon it's going to come
• 6:31
  Speaker 2: in around 0.2, which in the context is pretty solid.
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  Speaker 2: Cameron Bagri, independent economist with us this morning. Cameron, good morning.
• 6:38
  Speaker 10: Good morning.
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  Speaker 2: You reckon 0.2?
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  Speaker 4: Yeah, thereabouts. If you look at the year-on-year number, it's
• 6:44
  Speaker 4: going to look a little bit better, 2%. The economy
• 6:47
  Speaker 4: wasn't improving, getting back on track, so to speak. We
• 6:51
  Speaker 4: just took a bit of a detour in the June
• 6:53
  Speaker 4: quarter on the bumpy old goat track because fuel prices
• 6:55
  Speaker 4: got a lot more expensive, fuel prices more expensive. It
• 6:58
  Speaker 4: leaves more money in the pocket for people to spend,
• 7:00
  Speaker 4: so the loss of the retail sector The good news
• 7:04
  Speaker 4: is if we look at all the indicators for Q3,
• 7:06
  Speaker 4: if you get about the three-month-old story, Q3 is suggesting
• 7:11
  Speaker 4: a number up around 0.8, 0.9%.
• 7:15
  Speaker 11: Great.
• 7:15
  Speaker 2: What about all the oil, the situation that's going on
• 7:18
  Speaker 2: in the Middle East, continues to go on in the
• 7:20
  Speaker 2: Middle East? What does that mean for the potential for
• 7:22
  Speaker 2: a pre-election rate hike, do you reckon? Because you sort
• 7:25
  Speaker 2: of felt like they would pause pre-election and then go
• 7:28
  Speaker 2: after that. Do you think that this has changed any
• 7:31
  Speaker 2: of that?
• 7:32
  Speaker 4: Well, market sentiment has moved in the past few weeks,
• 7:37
  Speaker 4: and there's a couple of drivers. Number one is oil
• 7:41
  Speaker 4: prices have gone back up. Number two is that the
• 7:46
  Speaker 4: markets are starting to push an awful lot more for
• 7:48
  Speaker 4: central banks as a theme globally to lifting rates. So
• 7:52
  Speaker 4: it looks like the US Federal Reserve is going to
• 7:55
  Speaker 4: be lifting interest rates. you know, Australia, the market has
• 7:58
  Speaker 4: locked in a lot more on Australia needing to lift
• 8:00
  Speaker 4: interest rates again, because, you know, if you step back,
• 8:03
  Speaker 4: no central bank or few central banks around the globe
• 8:06
  Speaker 4: have managed to return inflation to 2%. And we've actually
• 8:10
  Speaker 4: been a long way away from 2%, not just for
• 8:12
  Speaker 4: a year or two years, but we've been a way
• 8:14
  Speaker 4: away from 2% for about five to six years. So
• 8:18
  Speaker 4: markets are starting to flex their muscle via higher, what's
• 8:22
  Speaker 4: called long interest rates. And when longer interest rates move
• 8:25
  Speaker 4: up because inflation expectations are becoming more concerning, it's actually
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  Speaker 4: a disciplinarian. So the central banks sort the inflation story out.
• 8:35
  Speaker 4: How do they sort the inflation story out? Well, they
• 8:37
  Speaker 4: lift interest rates. Unfortunately, that doesn't tend to be too
• 8:39
  Speaker 4: great for growth.
• 8:41
  Speaker 2: Although we are getting pretty healthy growth and by the
• 8:43
  Speaker 2: sounds of your predictions, even better growth for Q3. Hey,
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  Speaker 2: very quickly, do you have a, Do you have a
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  Speaker 2: hot take on the report yesterday in the supermarkets?
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  Speaker 4: Well, something needed to be done. The OECD put structural
• 9:00
  Speaker 4: separation on the table with it. I think their 2024
• 9:05
  Speaker 4: economic survey, we made an entire chapter across competition. If
• 9:10
  Speaker 4: I look at competition policy, Ryan, we've got two crises.
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  Speaker 4: One crisis is noted as the cost of living. and
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  Speaker 4: that's the one that everybody bangs on about, is actually
• 9:20
  Speaker 4: a second crisis that people don't talk about. And the
• 9:23
  Speaker 4: second crisis is incomes. And incomes are too low. And
• 9:27
  Speaker 4: incomes are too low.
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  Speaker 9: Why?
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  Speaker 4: Because we've got an awful productivity story. Now, if you
• 9:31
  Speaker 4: think about competition policy, competition policy drives down costs. It
• 9:36
  Speaker 4: makes firms more efficient. It makes them drive harder. It
• 9:40
  Speaker 4: makes them be a lot more innovative. So competition policy
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  Speaker 4: has got a really important role more broadly, to be
• 9:47
  Speaker 4: an enabler in regards to fixing both the crises that
• 9:50
  Speaker 4: we have. We talk about one, we do not talk
• 9:52
  Speaker 4: about the other.
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  Speaker 2: Interesting. Cameron, thank you. Cameron Bagri, independent economist with us
• 9:57
  Speaker 2: this morning, 18 minutes after five. Go Japan. So from
• 10:02
  Speaker 2: next year, people who attempt to, you know, in New Zealand,
• 10:05
  Speaker 2: whether it's peak season or whether it's off season in
• 10:08
  Speaker 2: New Zealand, people climb mountains, tourists come here, climb mountains,
• 10:11
  Speaker 2: get themselves stuck, and then we fly helicopters up to
• 10:14
  Speaker 2: save them and rescue them. Well, in Japan, they're going
• 10:16
  Speaker 2: to send them the bill. So from next year, people
• 10:19
  Speaker 2: who attempt to climb Mount Fuji during off-peak seasons will
• 10:22
  Speaker 2: require and require a rescue by helicopter. They're going to
• 10:25
  Speaker 2: have to pay for the privilege. They say it's trying
• 10:29
  Speaker 2: to deter reckless and poorly prepared climbers. You know, you
• 10:32
  Speaker 2: see those stories about people who go climb a mountain
• 10:34
  Speaker 2: in New Zealand. They're wearing jandals or they're wearing, you know,
• 10:37
  Speaker 2: a miniskirt. No, not good enough. So they already do
• 10:42
  Speaker 2: this in one particular area in Japan where they charge
• 10:45
  Speaker 2: you 8,000 yen or 51 American bucks for five minutes.
• 10:48
  Speaker 2: So every five minutes that they spend rescuing you, that's
• 10:51
  Speaker 2: 51 American dollars. Mount Aspiring Rescue, the last one I
• 10:56
  Speaker 2: looked up, cost about $ 150, 000 for one rescue. Government spends
• 11:00
  Speaker 2: about $ 21 million a year on search and rescue. So
• 11:04
  Speaker 2: should we do something like that here? Probably not a
• 11:06
  Speaker 2: bad idea, I would have thought. 20 after 5, Newstalk ZB.
• 11:10
  Speaker 1: The early edition full show podcast on iHeartRadio, powered by
• 11:14
  Speaker 1: Newstalk ZB. Get ahead of the headlines on early edition
• 11:20
  Speaker 1: with Ryan Bridge and Spark for Business, technology that keeps
• 11:25
  Speaker 1: business moving.
• 11:26
  Speaker 2: Newstalk ZB. Newstalk ZB21 after five. It seems week here
• 11:30
  Speaker 2: we just can't get enough of American food chains. Auntie
• 11:33
  Speaker 2: Anne's and a particular ice cream brand, which I will
• 11:36
  Speaker 2: mention in a minute, but you will love if you've
• 11:38
  Speaker 2: been to the States, opening their first New Zealand stalls
• 11:40
  Speaker 2: in Auckland's Newmarket this month. And let's go to Kathan Preke,
• 11:45
  Speaker 2: who is New Zealand Cinnabon franchise owner and bringing Auntie
• 11:48
  Speaker 2: Anne's pretzels to New Zealand. I've not tried Auntie Anne's. Kathan,
• 11:52
  Speaker 2: nice to have you on the program. Good morning.
• 11:55
  Speaker 4: Morning, Ryan.
• 11:56
  Speaker 8: How are you?
• 11:56
  Speaker 2: Very well. What are the pretzels like? They're amazing.
• 12:01
  Speaker 8: Great recipe coming out of the US. We obviously use
• 12:05
  Speaker 8: New Zealand ingredients to make sure that we are following
• 12:10
  Speaker 8: the guidelines in the recipe to get you the great taste.
• 12:14
  Speaker 8: But yeah, mostly we use nine, most of the ingredients
• 12:17
  Speaker 8: are from New Zealand. So yeah, it's great tasting stuff.
• 12:20
  Speaker 2: What about the ice cream?
• 12:22
  Speaker 8: Well, if you've been to the U.S., Carvel was the
• 12:26
  Speaker 8: original soft serve. There's a big history behind the soft
• 12:29
  Speaker 8: serve and how it was made. For the longest time,
• 12:33
  Speaker 8: the ice cream was not able to be taken out
• 12:36
  Speaker 8: of the U.S., but finally they found SOPs to bring
• 12:39
  Speaker 8: it out of the U.S., and it's lovely to bring
• 12:41
  Speaker 8: it to New Zealand. We love our ice cream, so
• 12:44
  Speaker 8: soft serve is just a different market. It's great to
• 12:47
  Speaker 8: have it there and showcase it to the New Zealanders.
• 12:50
  Speaker 2: And so is this a franchise that you are starting
• 12:53
  Speaker 2: for both of these in one store? Yes, yeah.
• 12:57
  Speaker 8: So the Cinnabon, Auntie Anne's and Carvel are owned by
• 13:01
  Speaker 8: GoToFoods in the US, and they're all owned by the
• 13:05
  Speaker 8: same parent company, which allows us to... Me being the
• 13:10
  Speaker 8: franchisor for all three allows us to chop and change
• 13:13
  Speaker 8: of stores we want to build around New Zealand now,
• 13:16
  Speaker 8: where we can have a Cinnabon and an Auntie Anne's together,
• 13:19
  Speaker 8: an Auntie Anne's, a Carvel together, and something exciting that's
• 13:23
  Speaker 8: coming up soon is a Cinnabon, Auntie Anne's, and a
• 13:26
  Speaker 8: Carvel together, all in one site.
• 13:28
  Speaker 2: Oh, it sounds terrible for my hips. So you've got
• 13:34
  Speaker 2: the franchise rights to all three in New Zealand. How
• 13:36
  Speaker 2: many stores have you got for Cinnabon at the moment?
• 13:40
  Speaker 8: So at the moment, we've got two stores, one in
• 13:42
  Speaker 8: Newmarket and one in Manukau. And we're looking to expand.
• 13:46
  Speaker 8: We have done a lot of work on our supply
• 13:49
  Speaker 8: chain and a lot of work on product development as well.
• 13:52
  Speaker 8: We originally made everything in the stores and scratch and stuff.
• 13:58
  Speaker 8: We're still going to progress with that, but just with
• 13:59
  Speaker 8: ingredients that help us reduce labor costs, the hard work
• 14:04
  Speaker 8: and everything that goes behind it, making the pretzels and
• 14:09
  Speaker 8: the Cinnabon, we've got ingredients that help us reduce that
• 14:14
  Speaker 8: and to help. speed up the process in new markets.
• 14:17
  Speaker 2: Catherine, the appeal with all these American products, what's with that?
• 14:22
  Speaker 2: Do you think it's a lot of people going online
• 14:24
  Speaker 2: and seeing what the Americans are doing on TikTok and
• 14:26
  Speaker 2: then wanting them here? How do you explain it as
• 14:29
  Speaker 2: opposed to just a Kiwi brand or a brand from elsewhere?
• 14:32
  Speaker 8: I think it's... It's more to do with people traveling
• 14:36
  Speaker 8: around the world. These brands have been well-established everywhere. Asia
• 14:41
  Speaker 8: has a real big market as well with places like
• 14:45
  Speaker 8: Thailand having 200 stores, Philippines, 100 stores. It's a large
• 14:50
  Speaker 8: market in the UK. The New Zealand population, we do
• 14:53
  Speaker 8: travel a lot. And we seem to– we go to
• 14:56
  Speaker 8: the UK a lot. We go to America a lot.
• 14:58
  Speaker 8: And so we just look– we experience these brands everywhere
• 15:02
  Speaker 8: and We come back into New Zealand and we want them.
• 15:07
  Speaker 8: And so, obviously, this is a great opportunity to bring
• 15:10
  Speaker 8: them back and allow New Zealanders to enjoy that part
• 15:14
  Speaker 8: of America in New Zealand.
• 15:16
  Speaker 2: All right. And Newmarket, we'll give it a try. Katen Parig,
• 15:19
  Speaker 2: who's with us this morning, New Zealand Citibon franchise owner,
• 15:22
  Speaker 2: bringing Auntie Anne's pretzels to New Zealand. 25 minutes after five,
• 15:26
  Speaker 2: we're on Newstalk ZB. I'll give you a penny for
• 15:28
  Speaker 2: my thoughts on the supermarket announcement yesterday. Next. 27 after five,
• 15:32
  Speaker 2: Newstalk ZB. Nicola's supermarket smash-up. is not serious. She's playing
• 15:37
  Speaker 2: a very risky political game, and I think she knows
• 15:41
  Speaker 2: it too. Cost of living is the only game in
• 15:43
  Speaker 2: town this election. Win on the cost of living battle
• 15:45
  Speaker 2: and you win the war. Nicola thinks by looking tough
• 15:48
  Speaker 2: on supermarkets, she will earn the respect of the squeezed middle.
• 15:52
  Speaker 2: But as I've said many times before on this program,
• 15:55
  Speaker 2: even if you wipe out all of the so-called super
• 15:58
  Speaker 2: profits the supermarkets are making, you benefit by a few
• 16:00
  Speaker 2: extra bucks a week. And there's a big if in here.
• 16:04
  Speaker 2: Our supermarkets are run very efficiently. Yes, they are dominant,
• 16:08
  Speaker 2: too dominant maybe, but that allows our economies of scale
• 16:11
  Speaker 2: in a small country of 5 million people. Mess with
• 16:14
  Speaker 2: that for political gain and you risk prices actually going up,
• 16:19
  Speaker 2: not down. That is not my view. That is the
• 16:22
  Speaker 2: view of the very report which Nicola Willis relied on
• 16:25
  Speaker 2: to make her grand pronouncement yesterday. In other words, this
• 16:28
  Speaker 2: whole thing could end up costing us more than it
• 16:31
  Speaker 2: saves us. Nobody knows for sure. No government in the
• 16:35
  Speaker 2: world has gone in with an axe and split up
• 16:37
  Speaker 2: a live supermarket chain in real time before. The very
• 16:41
  Speaker 2: threat of it will put the willies up investors. Who's
• 16:44
  Speaker 2: going to be investing in New Zealand's supermarket industry before
• 16:47
  Speaker 2: the second half of 2027? That's how long a second
• 16:50
  Speaker 2: report will take to answer those questions. And guess what?
• 16:54
  Speaker 2: Those risks, those scenarios, those best guesses on calculators by
• 16:59
  Speaker 2: modellers will still be there in 12 months' time, at
• 17:03
  Speaker 2: which point National will shelve this idea. It won't happen.
• 17:07
  Speaker 2: This isn't happening. It's not serious. It's politics. It's election year.
• 17:13
  Speaker 2: Some are saying this is Nicola's Jacinda nuclear-free oil and
• 17:16
  Speaker 2: gas moment, but it's not. Jacinda actually did the ban.
• 17:21
  Speaker 2: Nicola's not. Jacinda fired the gun. Nicola's just waving it
• 17:25
  Speaker 2: around the supermarket aisles for a photo op.
• 17:28
  Speaker 1: Ryan Bridge.
• 17:30
  Speaker 2: 29 after 5. There you go. That's what I think.
• 17:35
  Speaker 2: What do you think? 9292 is the number to text.
• 17:38
  Speaker 2: We're live to the US next with Mitch.
• 17:45
  Speaker 1: McCann, ZB. On your radio and online on iHeartRadio. Early
• 17:55
  Speaker 1: edition with Ryan Bridge and Spark for Business. Technology that
• 17:59
  Speaker 1: keeps business moving.
• 18:00
  Speaker 2: Newstalk ZB.
• 18:01
  Speaker 1: 24 away from six here on Newstalk ZB.
• 18:06
  Speaker 2: Coming up, we'll head to the US. We've got a
• 18:08
  Speaker 2: Fed rate decision due in about half an hour's time.
• 18:10
  Speaker 2: Mitch McCann will join us live and go to Business
• 18:12
  Speaker 2: New Zealand on the foodstuff situation. Many of you are
• 18:15
  Speaker 2: piling in on this one. Ryan could not agree more
• 18:19
  Speaker 2: with your comments. The supermarket announcement is nothing more than
• 18:23
  Speaker 2: a scramble to get votes. Ryan, foodstuffs is a co-op
• 18:27
  Speaker 2: like Fonterra. Individual shop owners and individual farmers who then
• 18:31
  Speaker 2: own the collective as well. Does this mean Fonterra, with
• 18:34
  Speaker 2: about 80% of dairy, should be broken up, says Trish. Ryan,
• 18:38
  Speaker 2: most political parties are proposing a break-up or to regulate supermarkets.
• 18:42
  Speaker 2: So what about the banks? What about the power companies?
• 18:44
  Speaker 2: I guess that's the other question here is who's next?
• 18:47
  Speaker 2: What's next? Where do you draw the line? 23 to 6.
• 18:52
  Speaker 2: Go to our reporters, Cullum and Deneid. Morning, Cullum.
• 18:55
  Speaker 9: Morning, Ryan.
• 18:56
  Speaker 2: What's the new stadium boss there planning to do for
• 18:58
  Speaker 2: a turnaround job? Yeah, look, he's got big plans, that's
• 19:02
  Speaker 2: for sure. Phil King is his name.
• 19:04
  Speaker 12: He's in his first week leading Dunedin venues here who
• 19:07
  Speaker 12: are in charge of Forsyth Bar Stadium. He wants to
• 19:09
  Speaker 12: put Dunedin back on the map for major events and
• 19:13
  Speaker 12: his arrival comes as the stadium faces an events lull.
• 19:17
  Speaker 12: New documents released to Newstalk ZB show major events commonly
• 19:20
  Speaker 12: bypass the city because of touring schedules, accommodation shortages.
• 19:24
  Speaker 2: And and other operational hurdles.
• 19:27
  Speaker 12: Phil King, who comes from Ticketek Australia, says he has
• 19:30
  Speaker 12: a plan to change that, and he's delivered it to
• 19:32
  Speaker 12: his team already. He says he's focused on what Dunedin
• 19:35
  Speaker 12: has to offer rather than what other cities are doing,
• 19:37
  Speaker 12: and he's confident he can turn things around here.
• 19:40
  Speaker 2: How's your weather? Fine this morning, but chance of a
• 19:43
  Speaker 2: shower later today, the high 13. Nice one, thank you.
• 19:46
  Speaker 2: Claire's in Christchurch. Morning, Claire.
• 19:48
  Speaker 13: Good morning.
• 19:48
  Speaker 2: What's going on at the council?
• 19:50
  Speaker 14: Yeah, well, they've got a big focus this Māori Language
• 19:53
  Speaker 14: Week and they're saying haere rā to incorrect spelling of
• 19:56
  Speaker 14: any of the te reo Māori signage around parks. They've
• 19:59
  Speaker 14: found mistakes at 30 different Christchurch parks. that they're now
• 20:03
  Speaker 14: correcting as part of the signage renewal program they're rolling out.
• 20:06
  Speaker 14: It did start last year after a resident contacted council
• 20:09
  Speaker 14: saying the spelling of Rafiti at New Brighton was wrong.
• 20:13
  Speaker 14: It was Rafiti. Visitor experience team leader Amy Johnston-Bray, who
• 20:18
  Speaker 14: is spearheading this project, says three sites have already had
• 20:21
  Speaker 14: updated signage installed, including a Rafiti domain. She says many
• 20:25
  Speaker 14: of the 1,300 parks have been checked. They've had macrons missing,
• 20:28
  Speaker 14: which can change the meaning of a word very dramatically.
• 20:31
  Speaker 14: One of the famous ones there is the difference between
• 20:34
  Speaker 14: keke and keke, which is cake or armpit. Corrections are
• 20:38
  Speaker 14: also being made to Council's website, as well as their
• 20:41
  Speaker 14: marketing material and consultation material, as well as some internal
• 20:44
  Speaker 14: reports documentation.
• 20:46
  Speaker 2: Very good. How's your weather?
• 20:48
  Speaker 14: Scattered rain about this morning. Pretty cold and miserable, to
• 20:50
  Speaker 14: be fair. Southwesterlies will die out a bit later, a
• 20:52
  Speaker 14: high of just 10.
• 20:54
  Speaker 2: Thank you, Clare. Max in Wellington. Morning, Max. Good morning.
• 20:56
  Speaker 2: Kiwi Mart, the Greens' Kiwi Mart. The name was trademarked
• 20:59
  Speaker 2: by someone else.
• 21:01
  Speaker 15: Yeah, sort of. So, of course, the focus is on
• 21:03
  Speaker 15: the national supermarket plan today. But, yes, the Green Party
• 21:07
  Speaker 15: also wants to nationalise 120 existing foodstuffs and Woolworths stores
• 21:11
  Speaker 15: to create Kiwi Mart. One of, I imagine, several issues
• 21:14
  Speaker 15: is going to be the fact that a couple of
• 21:16
  Speaker 15: carpentry entrepreneurs were already setting up their own Kiwi Mart.
• 21:21
  Speaker 15: And have applied for the trademark. These two blokes are
• 21:24
  Speaker 15: directors of Lion Projects. One says he almost fell off
• 21:27
  Speaker 15: his chair when he heard the Greens announcement. They're in
• 21:30
  Speaker 15: the process of setting up a business to sell pre-prepared
• 21:33
  Speaker 15: food in automated vending machines. Warm food, pies, fried chicken, drinks, snacks, rolls, donuts, cheesecake.
• 21:41
  Speaker 15: Probably not the type of food the Greens would approve of.
• 21:43
  Speaker 15: The Greens don't actually believe the trademark's been approved yet,
• 21:47
  Speaker 15: even though the application has been filed. Kiwimart.co.nz is owned
• 21:52
  Speaker 15: by these guys. Whether or not there does end up
• 21:55
  Speaker 15: being a trademark dispute remains to be seen.
• 21:57
  Speaker 2: It's not personal. It's business. I've always wondered with vending
• 22:02
  Speaker 2: machines why we don't have more hot food from vending.
• 22:05
  Speaker 2: I think it's a trust thing, right?
• 22:06
  Speaker 15: I mean, would you buy a pizza, for instance, from
• 22:08
  Speaker 15: a vending machine, or would you rather just stop at
• 22:11
  Speaker 15: Domino's or Pizza Hut on the way home?
• 22:12
  Speaker 2: Yeah, but the problem is they're not open at 4 a.m.,
• 22:15
  Speaker 2: are they?
• 22:15
  Speaker 15: Sure, but then how long has it been sitting there?
• 22:18
  Speaker 15: But I suppose, look, you get all kinds of food
• 22:20
  Speaker 15: at 4 a.m., don't you?
• 22:21
  Speaker 2: Yeah, you do. Hey, how's your weather?
• 22:25
  Speaker 15: Yeah, rainy at times today with strong northerlies, 14, the high.
• 22:28
  Speaker 2: Nice one, thank you. Good morning, Neva.
• 22:30
  Speaker 10: Good morning.
• 22:30
  Speaker 2: We've got a new festival starting in Auckland today.
• 22:32
  Speaker 16: Yes, we do, and it's called Pōmatua. So this cultural
• 22:36
  Speaker 16: fest runs until Saturday, and they've got events all scattered
• 22:41
  Speaker 16: around the town, around the city, Auckland Town Hall, Aotea Square,
• 22:45
  Speaker 16: Kew Theatre. Now, it will be featuring performances from Tamariki,
• 22:50
  Speaker 16: also the best kapa haka group, so I'm told. So
• 22:53
  Speaker 16: it's celebrating, of course, the history of Tamaki Makaurau, Auckland,
• 22:57
  Speaker 16: culture of local iwi, Ngati Whatua, and also too, I suspect,
• 23:02
  Speaker 16: you know, blending into Māori Language Week. Director Daniel Clark says, look,
• 23:05
  Speaker 16: seeing the venues lit up with these range of performers,
• 23:08
  Speaker 16: it's going to be an incredible experience.
• 23:10
  Speaker 2: His words, not mine. Incredible. Fantastic. How's our weather today?
• 23:13
  Speaker 16: Cloudy, isolated light showers becoming widespread heavier tonight. 18, the
• 23:16
  Speaker 16: high here in Auckland.
• 23:17
  Speaker 2: Beautiful, Neva. 19 minutes away from six on Newstalk ZB. Now,
• 23:22
  Speaker 2: Scott Besant over in America is going to do a
• 23:25
  Speaker 2: little meeting because, you know, the tariffs that we had
• 23:28
  Speaker 2: between America and China and then there was a truce signed. Well,
• 23:31
  Speaker 2: that truce actually expires in November. And so Trump and
• 23:36
  Speaker 2: Xi are going to meet. They're having a wee summit
• 23:38
  Speaker 2: that's going to happen in America. Ahead of that, you've
• 23:43
  Speaker 2: got Scott Besant meeting He Li Feng. This is his
• 23:48
  Speaker 2: Chinese counterpart. They are meeting right now to talk about, well,
• 23:52
  Speaker 2: the fact that this agreement is going to expire and
• 23:54
  Speaker 2: what are they going to replace it with. Also AI competition,
• 23:57
  Speaker 2: because there's been a samajibaji about that in the last
• 24:00
  Speaker 2: couple of weeks. And also rare earths, because who doesn't
• 24:02
  Speaker 2: love a bit of rare earth at the moment? Anyway,
• 24:04
  Speaker 2: that's all going down this morning. It is 18 to 6.
• 24:08
  Speaker 2: We're live to Mitch McCann ahead of this Fed rate
• 24:11
  Speaker 2: decision next. News Talk ZB.
• 24:14
  Speaker 1: International Correspondence with NZI Insurance. Peace of mind for New
• 24:18
  Speaker 1: Zealand business.
• 24:20
  Speaker 2: Quarter to 6, we'll do the Business NZ on the
• 24:22
  Speaker 2: supermarkets in a second. First, Mitch McCann, our US correspondent
• 24:24
  Speaker 2: with us. Mitch, we're, what, half an hour away, an
• 24:27
  Speaker 2: hour away now from a Fed decision. Could be the
• 24:30
  Speaker 2: first hike in years. Yeah, that's right, Brian.
• 24:33
  Speaker 10: About 15 minutes away, actually, the Fed is expected to
• 24:36
  Speaker 10: hike rates for the first time in a number of years.
• 24:39
  Speaker 10: The market watch tool that we use to give us
• 24:41
  Speaker 10: a gauge of how likely that is predicts at about
• 24:44
  Speaker 10: 93 percent likelihood that rates will be raised. Inflation has
• 24:48
  Speaker 10: been creeping up here in the U.S. for quite some time.
• 24:51
  Speaker 10: It's about 3.4 percent year over year. And the Fed's
• 24:54
  Speaker 10: target is 2 percent. So it's well off. And there's,
• 24:57
  Speaker 10: of course, more inflationary pressures from the conflict in the
• 25:00
  Speaker 10: Middle East. It's made life more expensive for Americans. It's
• 25:03
  Speaker 10: not just at the gas pump. It's also in supermarkets.
• 25:06
  Speaker 10: It's on farms where fertilizer has become more expensive. I think, Ryan,
• 25:10
  Speaker 10: one of the interesting parts of this is the political element.
• 25:12
  Speaker 10: Kevin Walsh came in as the chair of the Fed
• 25:15
  Speaker 10: after Donald Trump had criticized Jerome Powell for so long
• 25:19
  Speaker 10: for not cutting rates. Now, Kevin Walsh has to decide
• 25:23
  Speaker 10: now whether or not they are not going to hold
• 25:25
  Speaker 10: rates steady, but they're going to hike rates. Donald Trump's
• 25:27
  Speaker 10: already been spending the week criticizing his own Supreme Court appointees.
• 25:31
  Speaker 10: Will he do the same to Kevin Walsh if he
• 25:35
  Speaker 10: raises rates steadily? In just about 15 minutes time.
• 25:38
  Speaker 2: Yeah, I'm just bracing for a Trump truth social tirade,
• 25:43
  Speaker 2: which I think will be coming shortly after. What else
• 25:46
  Speaker 2: are they doing on Saudi Arabia and the Houthis?
• 25:50
  Speaker 10: Look, the Americans are not wanting to get involved here.
• 25:52
  Speaker 10: Violence has broken out in Yemen in the past couple
• 25:55
  Speaker 10: of weeks. The Houthis have been threatening another waterway that's
• 25:58
  Speaker 10: really critical to global shipping, the Bab al-Mandeb Straits.
• 26:01
  Speaker 2: That could make gas prices even more expensive.
• 26:04
  Speaker 10: More than 1,000 people have been killed or wounded in Yemen.
• 26:07
  Speaker 10: But the Houthis have also been firing rockets into Saudi Arabia. Now,
• 26:10
  Speaker 10: the U.S. isn't happy about this. They've met with Houthi
• 26:13
  Speaker 10: leaders in Oman over the weekend. And Donald Trump has
• 26:16
  Speaker 10: condemned their advance, but he does not want to involve
• 26:20
  Speaker 10: military action here, even though Saudi Arabia might like that,
• 26:23
  Speaker 10: because he doesn't want to drag the U.S. into another
• 26:27
  Speaker 10: theater of war in that region, probably only a month
• 26:30
  Speaker 10: and a half out now from the midterm elections. You
• 26:32
  Speaker 10: can imagine how that would go down among the American public,
• 26:35
  Speaker 10: already very unhappy with what's been happening in Iran.
• 26:37
  Speaker 2: Yeah, not a great recipe for a midterm election for him,
• 26:40
  Speaker 2: is it? Thank you very much, Mitch McCann, our US correspondent,
• 26:43
  Speaker 2: 13 minutes away from six. By the way, the Fed
• 26:46
  Speaker 2: rate decision this morning, you will get it in a
• 26:48
  Speaker 2: couple of minutes' time, as Mitch said, but attention should
• 26:50
  Speaker 2: also be paid to which box these guys tick. Do
• 26:55
  Speaker 2: they want another one after this one or not? And
• 26:58
  Speaker 2: that tick, they reckon, is going to be the difference
• 27:00
  Speaker 2: between whether the committee thinks it's begun something or whether
• 27:04
  Speaker 2: it thinks it will be able to just do one
• 27:06
  Speaker 2: and then sit tight. So stay tuned for that. It
• 27:08
  Speaker 2: is 12-2 now. Now, Nicola said there would be blowback
• 27:13
  Speaker 2: to this.
• 27:14
  Speaker 17: Structural separation of foodstuffs would deliver benefits to Kiwi shoppers
• 27:18
  Speaker 17: with lower prices. This requires a robust, objective analysis... Not
• 27:24
  Speaker 17: half-baked reckons from politicians.
• 27:26
  Speaker 2: Now the Finance Minister is getting blowback and it's coming hard.
• 27:29
  Speaker 2: Catherine Baird, Business NZ with us this morning. Catherine, good morning.
• 27:33
  Speaker 11: Good morning.
• 27:34
  Speaker 2: So you've mentioned the oil and gas ban here all
• 27:37
  Speaker 2: over again. Why is that?
• 27:39
  Speaker 18: Look, this is hugely alarming, particularly coming from one of
• 27:43
  Speaker 18: the major political parties. To threaten to take private property
• 27:49
  Speaker 18: and split it up is a very dramatic thing to do.
• 27:53
  Speaker 18: And it sends an incredibly concerning signal right through the
• 27:58
  Speaker 18: business community in every sector. And it sends a terrible
• 28:02
  Speaker 18: signal to international investors that be careful what you do
• 28:06
  Speaker 18: in New Zealand because the government could come along and
• 28:09
  Speaker 18: actually take.
• 28:10
  Speaker 11: Your business essentially. I think the other thing to think.
• 28:13
  Speaker 18: About here is there's no surety that this would actually
• 28:17
  Speaker 18: reduce costs for consumers.
• 28:19
  Speaker 11: In fact, it might increase costs because you have to.
• 28:23
  Speaker 18: Remember we've got a very big country with a very
• 28:27
  Speaker 18: small population, a lot of territory to cover, and if
• 28:30
  Speaker 18: you're just duplicating systems, you're actually just adding costs into
• 28:34
  Speaker 18: the system.
• 28:35
  Speaker 2: Is this Banana Republic stuff, Catherine?
• 28:38
  Speaker 11: It seriously is.
• 28:39
  Speaker 18: You know, we're starting to look a bit like Venezuela
• 28:42
  Speaker 18: because you've got a lot of the political parties falling
• 28:46
  Speaker 18: over themselves to make these sort of announcements. And it's
• 28:51
  Speaker 18: not just confined to supermarkets, frankly.
• 28:54
  Speaker 2: The minister has said that the supermarkets have a big
• 28:58
  Speaker 2: and expensive lobby group. Foodstuffs is one of your members.
• 29:02
  Speaker 2: You are a lobby group, essentially. Are you out there
• 29:05
  Speaker 2: this morning keeping prices high, screwing Kiwi consumers, laughing all
• 29:10
  Speaker 2: the way to the bank?
• 29:12
  Speaker 18: Look, I think the other thing that they haven't actually proven,
• 29:15
  Speaker 18: and the Commerce Commission itself acknowledges this, is we don't
• 29:21
  Speaker 18: even have a definitive study that says a basket of
• 29:25
  Speaker 18: New Zealand supermarket goods are more expensive than than anywhere
• 29:28
  Speaker 18: else in the world because most countries in the OECD.
• 29:32
  Speaker 11: Like the majority, do not put a tax on food.
• 29:35
  Speaker 18: New Zealand has a 15% tax on all food. So,
• 29:39
  Speaker 18: you know, we would argue, actually, if you take the
• 29:41
  Speaker 18: GST off, we're actually very competitive with a basket of goods.
• 29:45
  Speaker 11: Anywhere in the world.
• 29:46
  Speaker 18: So, you know, they really haven't, I don't think, proved
• 29:50
  Speaker 18: the case that there's a problem here. You know, yes,
• 29:53
  Speaker 18: we've had food inflation, but so has the rest of
• 29:56
  Speaker 18: the world. In the last ComCom report, says that our
• 30:00
  Speaker 18: food inflation is pretty much in line with the UK
• 30:03
  Speaker 18: and Australia. So really, they could intervene and do.
• 30:09
  Speaker 11: More harm than good.
• 30:11
  Speaker 2: What other industries do you think would be nervous this morning,
• 30:15
  Speaker 2: having listened to Nicola Willis yesterday?
• 30:19
  Speaker 11: Well, any big sector really.
• 30:21
  Speaker 18: So they've already had a crack at the banking industry.
• 30:26
  Speaker 18: We've got New Zealand First threatening to break up the
• 30:29
  Speaker 18: gen tailors. Again, we feel like that could be an
• 30:32
  Speaker 18: own goal. Again, you can lose your efficiencies of scale.
• 30:37
  Speaker 18: And that is a market that everybody has seen deliver
• 30:43
  Speaker 18: and the facts are there to prove it. very competitive
• 30:47
  Speaker 18: electricity prices over the last 20 years. It's a state market,
• 30:52
  Speaker 18: and there's a bunch of reasons why investment was a
• 30:55
  Speaker 18: bit slow to come on board, but to really.
• 30:58
  Speaker 11: Go in and break things up, you know, it's, yeah,
• 31:03
  Speaker 11: it's destructive, really.
• 31:04
  Speaker 18: And, you know, New Zealand just ends up going sideways,
• 31:07
  Speaker 18: and international investors who want to come here and build
• 31:11
  Speaker 18: new things go, well, we can't trust that. that economy anymore.
• 31:17
  Speaker 2: Catherine Baird, Business New Zealand. It's 8 to 6, Newstalk ZB.
• 31:21
  Speaker 1: Before the news breaks, hear it first. Ryan Bridge on
• 31:25
  Speaker 1: early edition with Spark for Business, technology that keeps business moving.
• 31:30
  Speaker 2: Newstalk ZB. 6 to 6, good morning, Ryan. There is
• 31:33
  Speaker 2: already a hot pizza vending machine at Wellington Railway Station,
• 31:36
  Speaker 2: says Paul. Midnight pizzas are a thing. You've got various toppings.
• 31:41
  Speaker 2: You've got made hot in a box in five minutes. Paul,
• 31:44
  Speaker 2: very good to know. Thank you very much. I was misinformed.
• 31:47
  Speaker 10: 5-2.
• 31:47
  Speaker 2: Ryan Bridge. Good morning, Mike. Great to see you, Ryan. Well,
• 31:52
  Speaker 2: second time I've seen you this morning because, of course,
• 31:55
  Speaker 2: when I got in the lift. Usually, I'm in the
• 31:58
  Speaker 2: lift alone, and I could hear someone singing as I
• 32:01
  Speaker 2: was coming up the lift. And then the door opens,
• 32:04
  Speaker 2: and there's Mike Hosking singing.
• 32:06
  Speaker 13: We should point out that you come up from a
• 32:08
  Speaker 13: lower floor.
• 32:09
  Speaker 2: Yeah, I do. Bottom feeder.
• 32:12
  Speaker 13: And then you weren't expecting to stop on B1 at.
• 32:15
  Speaker 2: The executive level.
• 32:15
  Speaker 1: No, I wasn't.
• 32:19
  Speaker 2: Where all the nice cars go.
• 32:20
  Speaker 13: Where all the nice cars go. Smells like leather on B1.
• 32:24
  Speaker 13: It smells incredible on B1. It's amazing on B1. We're
• 32:28
  Speaker 13: talking to the chair of the foodstuffs people today. So
• 32:31
  Speaker 13: you've got the legalities, which fascinate me. Do you know
• 32:33
  Speaker 13: what I'm overarchingly worried about is the reputation. See, you
• 32:37
  Speaker 13: expect the fringe. To do fringe things. That's why they're
• 32:40
  Speaker 13: called the fringe.
• 32:41
  Speaker 2: Not your national.
• 32:42
  Speaker 13: Not your mainstreamers who clearly have reputational issues now because
• 32:46
  Speaker 13: of the getting the Commerce Commission involved. They've worked out
• 32:49
  Speaker 13: you can't just go around gerrymandering markets when you wake
• 32:52
  Speaker 13: up in a bad mood in the morning. And where
• 32:54
  Speaker 13: does it stop and start? Because if you watched old
• 32:56
  Speaker 13: Hipkins yesterday with a renter. They don't seem to quite
• 32:59
  Speaker 13: know what they're doing. It could be in the airlines,
• 33:01
  Speaker 13: could be in the finance sector.
• 33:03
  Speaker 2: Yeah, no, that was all over the place.
• 33:04
  Speaker 13: A little bit of this, a little bit of that,
• 33:05
  Speaker 13: depending on what our mood of the day is. It's
• 33:07
  Speaker 13: got a very, very third wheel feel about it.
• 33:10
  Speaker 2: Banana republic. Banana republic about it.
• 33:12
  Speaker 13: So anyway, so it seems if you take it at
• 33:16
  Speaker 13: face value, you've got National, you've got Labour, you've got
• 33:18
  Speaker 13: New Zealand First, and you've got the Greens.
• 33:20
  Speaker 11: Yep.
• 33:21
  Speaker 13: So in reality, you've got a pretty strong chance of
• 33:24
  Speaker 13: something material happening in in at least the supermarket area,
• 33:28
  Speaker 13: if not other sectors.
• 33:29
  Speaker 2: Except for, this is not going to happen, this is
• 33:31
  Speaker 2: not serious, this is another report from the Comcom, which
• 33:34
  Speaker 2: will identify the same problems and risks that this one has,
• 33:37
  Speaker 2: and National will just shelve it in six months. Which
• 33:40
  Speaker 2: then goes to the reputational damage of Nicola Willis, who's
• 33:44
  Speaker 2: no one's jawbone this more than she has.
• 33:46
  Speaker 4: 100%.
• 33:46
  Speaker 13: It's a doon all over again being fleeced at the supermarket,
• 33:49
  Speaker 13: at the petrol.
• 33:50
  Speaker 2: Stations, remember that? And it looks desperate this far out
• 33:53
  Speaker 2: from election day. We need better people, Ryan. I agree.
• 33:55
  Speaker 13: We need better people. We need more people on B1, fewer.
• 34:00
  Speaker 2: People on B2. More people trying to move from B2
• 34:04
  Speaker 2: to B1.
• 34:04
  Speaker 13: That's exactly what we want, the elevator economy. That's exactly
• 34:07
  Speaker 13: what we want. Nice to see you.
• 34:09
  Speaker 2: Mike's next. Newstalk ZB.
• 34:25
  Speaker 1: For more from Early Edition with Ryan Bridge, listen live
• 34:28
  Speaker 1: to News Talk ZB from 5 a.m. weekdays or follow
• 34:31
  Speaker 1: the podcast on iHeartRadio.