Latest / Early Edition with Ryan Bridge / Full Show Podcast: 29 January 2025

Transcript

Full Show Podcast: 29 January 2025 · Early Edition with Ryan Bridge

0:01
Speaker 1: The issues, the interviews and the insight. Andrew Dickens on
0:06
Speaker 1: early edition with one roof Make your Property search Simple
0:11
Speaker 1: Used talks it be.
0:13
Speaker 2: Well, good morning to you, Welcome to your Wednesday, Thank
0:15
Speaker 2: you so much for choosing us, and welcome to the
0:18
Speaker 2: lunar new Year. It is the first day of the
0:21
Speaker 2: Year of the Snake. And on the program today, China's
0:24
Speaker 2: AI slaughters the American tech sector. What is the fallout
0:28
Speaker 2: from deep sinks stunning software drop. We'll have that story
0:31
Speaker 2: for you in five minutes time. What happens when two
0:34
Speaker 2: shipping companies collide, Well, we hope cheaper freight. And we're
0:38
Speaker 2: going to talk to the Ports of UKONCYEO and Nick
0:41
Speaker 2: Leggett from Infrastructure New Zealand, of which asseats we could
0:44
Speaker 2: and couldn't sell, and we'll talk to him just before six.
0:47
Speaker 2: We'll have correspondence from right around the world and New Zealand.
0:50
Speaker 2: We'll have the news as it breaks. You can contribute
0:52
Speaker 2: by texting me ninety two ninety two. A small charge applies.
0:55
Speaker 2: If you have something better to say, Email me Dickens
0:58
Speaker 2: at news Talks atb dot co dot zre comboding to
1:01
Speaker 2: you a seven after five the agenda Wednesday, the twenty
1:08
Speaker 2: ninth of January, and US federal grants and loans have
1:11
Speaker 2: been paused by the White House.
1:13
Speaker 3: It really seeks to take aim at policies and priorities
1:19
Speaker 3: of the previous administration, the Biden administration, when you look
1:23
Speaker 3: at some of the diversity, equity and inclusion programs, clean
1:27
Speaker 3: energy spending. This wants to align federal spending with Trump
1:32
Speaker 3: administration priorities.
1:34
Speaker 2: So of course the Democrats have questioned it's legality. They
1:38
Speaker 2: say impacted spending has been improved by Congress. So there
1:42
Speaker 2: we go. Wait to see. Stocks in the US appear
1:45
Speaker 2: to have stabilized a bit after the heavy drops yesterday
1:47
Speaker 2: with the news of the Chinese AI company Deep Seek.
1:51
Speaker 2: The tech driven Masdak is up point two percent after
1:53
Speaker 2: dropping more than three percent yesterday. Google is up point
1:56
Speaker 2: one percent, while Microsoft is down point six percent. To Africa,
2:00
Speaker 2: and a rebel group is continuing to advance in the
2:03
Speaker 2: city of Goma in the Democratic Republic of Congo. The
2:07
Speaker 2: group now controls the city's airport.
2:09
Speaker 4: Well, it isn't very clear at all in terms of
2:11
Speaker 4: who is in control. Residents there are basically cowering in
2:15
Speaker 4: their houses to escape the fighting. What they are saying
2:19
Speaker 4: is that they keep hearing gunfire throughout the night and
2:22
Speaker 4: again this morning.
2:24
Speaker 2: And neighboring Rwanda has been accused of backing the rebel group,
2:29
Speaker 2: and US President Donald Trump says Microsoft is in talks
2:31
Speaker 2: to buy TikTok from its Chinese parent company Bike Dance.
2:35
Speaker 2: It's almost five years since Microsoft was approached by the
2:38
Speaker 2: company for a possible sale that didn't happen. Trump says
2:41
Speaker 2: he wants to see a bidding war for the app,
2:44
Speaker 2: which has been granted a seventy five day reprieve from
2:47
Speaker 2: US bands. So don't worry. Bad Dancing and in name
2:50
Speaker 2: video clips are all still online.
2:54
Speaker 1: Get ahead of the headlines on early edition Andrew Dickens
2:58
Speaker 1: and One Room, Make your proper research, Simple News Talks.
3:02
Speaker 2: It be nine after five. The hot political word of
3:04
Speaker 2: the day is privatization. We'll be talking about this with
3:06
Speaker 2: Nick Leggett. I did the Drive show on Monday. I
3:09
Speaker 2: asked Finance Minister Nicola Willis directly if privatization or what
3:14
Speaker 2: they call it these days, asset recycling, was being considered
3:17
Speaker 2: by her government. She said not in this term, which
3:21
Speaker 2: I thought stood at odds a bit with their just
3:23
Speaker 2: say yes, Ethos, just say yes, Nicola, but she said no. Yesterday,
3:28
Speaker 2: the Prime Minister was also pested about the plans for privatization.
3:32
Speaker 2: He also said no and added that they would campaign
3:35
Speaker 2: on the issue next election to get a mandate, to
3:39
Speaker 2: get permission, and considering the way privatization creates knee jerk
3:44
Speaker 2: reactions and always has done, that is probably a wise
3:48
Speaker 2: response get a mandate. But what is a mandate in
3:52
Speaker 2: today's political environment? In the current government, privatization will not
3:58
Speaker 2: happen because the coalition partner, New Zealand First is against
4:01
Speaker 2: it and Winston has the whip hand. But what happens
4:04
Speaker 2: when we go to the polls next time? Say National
4:06
Speaker 2: and Act campaign on the idea, but to form a
4:08
Speaker 2: government they have to form a coalition and they need
4:11
Speaker 2: a third party because they still haven't hit the fifty
4:14
Speaker 2: percent threshold. Would that be a mandate for privatization? If Labor,
4:20
Speaker 2: the Greens, the Maori Party in New Zealand First campaign
4:23
Speaker 2: against privatization and their combined vote exceeds National and Acts,
4:29
Speaker 2: can they rarely claim a mandate against the idea. These
4:32
Speaker 2: are all ifs butts of maybe's governments do what governments do.
4:35
Speaker 2: But the debates on the rights and the wrongs of
4:37
Speaker 2: privatization and asset sales will rumble on. And the thing is,
4:42
Speaker 2: no potential asset buyer overseas knows if a yes or
4:47
Speaker 2: a no is on the way, and they'll be going
4:51
Speaker 2: make your minds up. And this is another example about
4:54
Speaker 2: how MMP our political system negates decisive leadership. Or in
5:00
Speaker 2: other words, I'm sorry about this, Christopher Luxan, our system
5:04
Speaker 2: is actually rigged to support saying no.
5:07
Speaker 1: Andrew Dickens, all right, we're going to.
5:08
Speaker 2: Talk about AI in a few moments time, and deep
5:10
Speaker 2: seek and how it's affected the markets has quite remarkable.
5:14
Speaker 2: I personally am not a big fan of AI because
5:16
Speaker 2: of the terminator of Matrix movies that was AI. That's
5:20
Speaker 2: when the machines became sentient and they realized the greatest
5:23
Speaker 2: threat to humanity is humanity itself. Therefore, the logic was
5:28
Speaker 2: to make us safe. The best idea is just to
5:30
Speaker 2: get rid of us entirely. So I've never liked AI,
5:33
Speaker 2: but that aside, I have seen how AI can make
5:35
Speaker 2: us better, even though it can only use ideas that
5:38
Speaker 2: already exist rather than creating new ones, which could mean
5:42
Speaker 2: that in a way we kind of dumbed down while
5:44
Speaker 2: we let our machines do our thinking for us. They're
5:46
Speaker 2: always looking at the past. But the latest unintended consequence
5:50
Speaker 2: of AI is AI created child porn. Of course, the perverse.
5:56
Speaker 2: We've got to take advantage of the latest technology. They
5:59
Speaker 2: always have. Look at it, look, I mean, look at
6:01
Speaker 2: all the Internet services. But it's just another warning that
6:04
Speaker 2: AI is the newest Pandora or box. It's a development
6:06
Speaker 2: that can do so much good but also can unleash
6:10
Speaker 2: new hells. And we'll talk about it with Brad Olsen next.
6:13
Speaker 2: It's twelve after five News.
6:15
Speaker 1: And Views You Trust to start your day is early
6:18
Speaker 1: edition with Andrew Dickens and one roof Make your Property
6:22
Speaker 1: Search Simple News Talk said.
6:24
Speaker 2: Be mining to you. It's five pin fifteen. US tech
6:27
Speaker 2: stocks have been taking a hammering after the debut of
6:29
Speaker 2: AI's new kid on the block, and it's called deep Seek.
6:32
Speaker 2: Deep Seek is a Chinese tech firm that's created its
6:35
Speaker 2: own budget AI model look at Ai, done by Temu Maybe,
6:40
Speaker 2: and it's said to be more efficient and significantly cheaper
6:42
Speaker 2: compared to others on the market, and it had an
6:44
Speaker 2: impact on the new Zealand super fund. It calls Invidios
6:48
Speaker 2: stocks to dive seventeen percent yesterday. So I'm joined by
6:51
Speaker 2: Inframetric CEO and principal economists Brad Olson.
6:54
Speaker 5: Hello, Brad, good warning.
6:56
Speaker 2: Wow, who saw this coming? This is a bold move.
7:00
Speaker 6: Oh it was huge. And I tell you what, yesterday
7:02
Speaker 6: was a very easy way to lose money on the
7:04
Speaker 6: markets without doing anything at all.
7:06
Speaker 7: So I mean it was it was a bit of
7:08
Speaker 7: a market blood bath.
7:09
Speaker 6: I mean, if you look at what had been happening
7:12
Speaker 6: though really over the last year, last two years, is
7:15
Speaker 6: everyone has been plowing some serious, serious money into AI
7:19
Speaker 6: and tech stops. This was the next big thing. It
7:22
Speaker 6: was the area that the more that you put into
7:24
Speaker 6: which the more you return, you were going to get
7:26
Speaker 6: out the other side because it was going to change everything.
7:28
Speaker 6: And then effectively, overnight you had deep Seek that came
7:31
Speaker 6: out and it was purported that it costs six million
7:36
Speaker 6: dollars to train compared to something like open ais Chat GPT,
7:40
Speaker 6: which was like one hundred million, and it was producing
7:43
Speaker 6: just as good it's not better results, and everyone went, well, geez,
7:46
Speaker 6: why am I investing these big sums? I better pull
7:48
Speaker 6: it out now. So within the space of the day
7:51
Speaker 6: you'd seen the likes of the video with its big
7:54
Speaker 6: chip and AI sort of focus, lost six hundred billion US.
7:59
Speaker 6: That's over a trillion New Zealand dollars, biggest single drop
8:03
Speaker 6: that we've seen ever in terms of dollar terms. But
8:06
Speaker 6: it's also interesting how quickly this has changed. Around yesterday,
8:10
Speaker 6: twenty four hours ago, the numbers were looking absolutely awful.
8:13
Speaker 6: The likes that S and P five hundred was down
8:16
Speaker 6: two percent. By today right here right now, that market's
8:19
Speaker 6: already recovered in general terms about half of that drop.
8:23
Speaker 6: So still down, but really some big market reactions. Everyone
8:27
Speaker 6: now trying to get a handle on how big is
8:29
Speaker 6: AI and how much money do they want to put
8:31
Speaker 6: into it.
8:32
Speaker 2: Was it a surprise that China came up with such
8:34
Speaker 2: a good little model.
8:36
Speaker 6: Well, it seemed to be for a lot of the markets,
8:38
Speaker 6: especially because there has been a much greater level of
8:41
Speaker 6: control on some of the chips and some of the technology,
8:44
Speaker 6: the semiconductors and the likes that have been going into
8:48
Speaker 6: supporting greater and greater AI investment, And so the view
8:51
Speaker 6: was that China shouldn't be able to do this, shouldn't
8:54
Speaker 6: be able to come up with something nearly as good
8:56
Speaker 6: because there are restrictions on this technology, which is again
8:59
Speaker 6: why everyone went well, if China has managed to achieve
9:03
Speaker 6: a superior product for cheaper with all of these restrictions
9:07
Speaker 6: in place, then maybe it's not worth these companies that
9:10
Speaker 6: are making these chips and semiconductors. Maybe they're not worth
9:14
Speaker 6: the money that everyone's pumped into them. And I think
9:17
Speaker 6: this is going to be probably one of the challenges
9:19
Speaker 6: for the next couple of years, is that everyone's trying
9:21
Speaker 6: to figure out just how big or how important a
9:24
Speaker 6: new category is. I mean, it's been clear, Andrew. We
9:27
Speaker 6: saw this last year in January where during the World
9:30
Speaker 6: Economic Forum and Davos, a lot of business leaders were saying, look,
9:34
Speaker 6: AI's big. AI is important, but I don't quite know
9:36
Speaker 6: how to use it in my company. All of a sudden,
9:39
Speaker 6: we had a big sell off them as well, which
9:40
Speaker 6: we recovered in a couple of months. So it's just
9:42
Speaker 6: a bit of recalibration going on where people are going, Look,
9:45
Speaker 6: we've probably overestimated just how absolutely amazing we think AI is.
9:51
Speaker 6: We've just got to sort now recalibrate just how important
9:54
Speaker 6: and how much money we're willing to put it good toods.
9:57
Speaker 2: Brad Olsen from Informatrics, I thank you so much for
9:59
Speaker 2: your time. Is five eighteen. Meanwhile, back back in the
10:03
Speaker 2: traditional ways of doing business, a couple of shipping companies
10:06
Speaker 2: have come up with an idea to revolutionize the way
10:09
Speaker 2: containers travel around the world and that could make for
10:12
Speaker 2: cheaper freight, which, considering we're here on the ends of
10:15
Speaker 2: the earth, this is a great thing to talk about.
10:17
Speaker 2: So we're going to talk about it in just a
10:18
Speaker 2: few moments time with the CEO of Auckland Port, who's
10:22
Speaker 2: Roger Gray.
10:24
Speaker 1: Andrew Dickens on a filly edition with one roof, Make
10:27
Speaker 1: your Property Search Simple.
10:29
Speaker 2: Youth talg Zibby got some more depressing statistics on home
10:33
Speaker 2: ownership from a global survey. Eighty percent of New Zealand
10:36
Speaker 2: youngsters see home ownership as a distant dream. Two thirds
10:40
Speaker 2: of renters have given up hope altogether, which is sad
10:43
Speaker 2: for them, and you've got to say a bit of
10:45
Speaker 2: a ticking time bond for society as they get older
10:47
Speaker 2: and they hit retirement, because the one thing we all
10:49
Speaker 2: need other than food and water is a roof above
10:52
Speaker 2: our head, which unfortunately has become the most expensive need
10:55
Speaker 2: of them all. More on this as the day goes on. Well,
10:58
Speaker 2: maybe here's some good news for you. A collaboration between
11:01
Speaker 2: two of the world's largest shipping companies could drive down
11:03
Speaker 2: see freight prices. Hapag Lloyd and Mask's Gemini Corporation are
11:08
Speaker 2: starting up next month. This co lab, which will cover
11:11
Speaker 2: the ocean freight network on East West trades. It's meant
11:15
Speaker 2: to see shipping prices drop immediately. Why improve stability in
11:19
Speaker 2: the Red Sea imports of Walk and Chief executive Roger
11:22
Speaker 2: Gray joins me. Now, good morning to here, Roger, Good
11:24
Speaker 2: morning Andrew. Cheaper prices, that's good.
11:27
Speaker 5: Yeah.
11:27
Speaker 7: Well, look, I think exporters and importers across New Zealand
11:30
Speaker 7: will be very happy with this initiative from Papak Lord
11:34
Speaker 7: and Mrs.
11:34
Speaker 2: It's cheaper because it's called a hub and spoke operation.
11:37
Speaker 2: Can you explain that for me.
11:39
Speaker 7: Yeah. What they're going to do is they're going to
11:41
Speaker 7: move cargo on bigger ships more reliably with a better schedule,
11:45
Speaker 7: into big hub ports and then they'll use smaller ships
11:48
Speaker 7: to come down to ports like Auckland and Total.
11:52
Speaker 2: So that means though freight could take longer because there's
11:55
Speaker 2: a couple more movements.
11:57
Speaker 7: Yeah, that's right, there could be. But what it will
12:00
Speaker 7: be important for both importers and exports will there'll be
12:04
Speaker 7: scheduled reliability. They'll know when their cargo will arrive. And
12:07
Speaker 7: that's been one of the biggest complaints we've had from
12:10
Speaker 7: customers over the last four or five years is ship's
12:13
Speaker 7: not arriving on time. And this is a really good
12:15
Speaker 7: initiative to get better at that.
12:17
Speaker 2: So a arrival stability is more important than timiness.
12:25
Speaker 7: Yeah. The reason for that is if your Woolworths and
12:29
Speaker 7: you're ordering in food, you want to know when it's
12:32
Speaker 7: going to arrive because you can then manage your inventores
12:36
Speaker 7: to make sure you don't have stocks running out in
12:38
Speaker 7: the stores. So, yeah, this reliability is what customers talked
12:42
Speaker 7: to us a lot about.
12:43
Speaker 2: And how does it improve stability in the Red Sea?
12:46
Speaker 7: Will There's two things that are happening. One happy Lloyd
12:50
Speaker 7: and Musk will be running these bigger ships with more tonnage,
12:54
Speaker 7: so they'll be guaranteed to be flowing. The other thing
12:57
Speaker 7: is you're probably aware that the Hooti rebels have acknowledged
12:59
Speaker 7: that they're going to stop attacking ships unless they're directly
13:03
Speaker 7: linked to Israel, so that means the ships won't be
13:05
Speaker 7: going around the bottom of Africa to get to Europe.
13:09
Speaker 7: So this should be a really good two things coming
13:13
Speaker 7: together at the same time, should be really good for
13:14
Speaker 7: the industry.
13:15
Speaker 2: All right, And when does it take hold? When does
13:18
Speaker 2: it start impacting?
13:20
Speaker 7: Well, we expect that we'll start to see it within
13:22
Speaker 7: the next few months down here in New Zealand. Whilst
13:24
Speaker 7: the Gemini agreement is not actually flowing directly here, we'll
13:28
Speaker 7: start to see it coming into Australia and the Upper
13:33
Speaker 7: and that should then provide us with the opportunity to
13:35
Speaker 7: see this come the next few months.
13:37
Speaker 2: Hey, Roger, thank you so much for getting up early
13:39
Speaker 2: for us. That is Roger Gray, who is the CEO
13:42
Speaker 2: of the Ports of Aukland. And this is News Talks
13:43
Speaker 2: here b And it's five twenty four and the text
13:45
Speaker 2: number is ninety two ninety two. What are you all
13:47
Speaker 2: still on holidays? No thoughts about privatization, very few texts
13:51
Speaker 2: this morning we're back on Business People.
13:55
Speaker 1: The early edition full show podcast on iHeartRadio, Blay News
14:00
Speaker 1: Talk Hippy Well.
14:02
Speaker 2: News Talks got a text through saying, gosh, you know,
14:04
Speaker 2: it's the cost of living crisis right now, I can't
14:06
Speaker 2: afford to text you. But that's funny because they texted me,
14:10
Speaker 2: so yeah, ah, okay, come on now, oh thank you.
14:16
Speaker 2: Somebody says I've been texting because I'll have to be
14:18
Speaker 2: texting because I've been saving for a holiday. Welcome back.
14:22
Speaker 2: You know what I've been doing that they I've been
14:23
Speaker 2: watching a lot of the late night TV shows from America.
14:25
Speaker 2: You can see them on YouTube, and that's Fallon and
14:27
Speaker 2: Kimmel and Colbert and you know, this week, all of
14:31
Speaker 2: them have used the exact same joke, all of them.
14:33
Speaker 2: They've all said the same thing, and the joke is this,
14:37
Speaker 2: oh my god, it's only been a week. And then
14:41
Speaker 2: the crowd goes off and I don't know if they're
14:43
Speaker 2: cheering or laughing or booing or crying, but I've got
14:46
Speaker 2: a theory that they're probably doing all of that all
14:48
Speaker 2: at once, because what a week. The second Golden Era
14:51
Speaker 2: of Trump kicked off and he started doing things and
14:54
Speaker 2: it was just news news, news, news news. Mister Trump
14:57
Speaker 2: is now in your news feed twenty four to seven.
14:59
Speaker 2: He's back, baby, he is so back. He went away
15:02
Speaker 2: for four years. He is back. He's a dynamo. When
15:05
Speaker 2: it comes to making people talk about stuff, and he
15:08
Speaker 2: does stuff Colombia. Columbia won't take deportees, so what does
15:13
Speaker 2: Trump do? Hits them with a killer tariff and economic
15:16
Speaker 2: sansions say this is going to take hold in a week.
15:18
Speaker 2: Within twelve hours, Columbia folded within twelve hours. It's the
15:23
Speaker 2: fastest flip in history. Stunning crisis over back to work
15:28
Speaker 2: business as usual. That was just one day of the
15:31
Speaker 2: Trump management. And a short crisis is so much better
15:34
Speaker 2: than a long, festering one when nothing happens, wouldn't you agree?
15:37
Speaker 2: Or the ceasefire in Gaza, so Trump comes out and says,
15:40
Speaker 2: call a sees fire, rebuild Gaza. Well, everybody wants to
15:44
Speaker 2: rebuild Gaza. Jews want to rebuild Gaza, Arabs want to
15:48
Speaker 2: rebuild Garda Gaza, American construction tycoons and people like Trump
15:52
Speaker 2: want to rebuild Gaza. There's money there, so guess what netaniah?
15:57
Speaker 2: Who did it? And just so that cease fire, Gaza
16:02
Speaker 2: may be rebuilt as Israeli condos or Palestinian homes with
16:06
Speaker 2: or without Arab money or American money, But who cares?
16:09
Speaker 2: There's a ceasefire. Now this may have long term consequences,
16:14
Speaker 2: but again, who cares. There's a ceasefire. Thank god, something
16:19
Speaker 2: finally happened. That's what Trump does. He makes things happen.
16:23
Speaker 2: And some people worry a lot about, oh, what might
16:25
Speaker 2: happen next? Might be bad, but often you have no
16:28
Speaker 2: idea what's going to happen next. It's been a week
16:30
Speaker 2: of rapid and effective decisions and that's what you can
16:33
Speaker 2: do when you've got the executive power in every level
16:36
Speaker 2: of government behind you. He's the closest you've got to
16:38
Speaker 2: an autocrat that you could get democratically. And I talked
16:41
Speaker 2: earlier about privatization, and I talked about how MMP causes
16:46
Speaker 2: indecisive leadership in New Zealand. Well, Donald Trump is the
16:50
Speaker 2: antithesis of MMP, which is probably why so many Kiwis
16:55
Speaker 2: loathe them, but it's also why so many New Zealand
17:00
Speaker 2: love him. He just says yes, he doesn't say no.
17:05
Speaker 2: Christopher Luxe must be so jealous, dickens net. Migration in
17:09
Speaker 2: the UK is going to swell the population to seventy
17:14
Speaker 2: two point five million in the next seven years. That's
17:17
Speaker 2: another ten million people coming to live in Britain. Long term,
17:21
Speaker 2: that's going to have an impact. We'll talk about that
17:23
Speaker 2: with Gail Downey in just a few mothers time, and
17:26
Speaker 2: we'll go right around the country. This is early edition.
17:28
Speaker 2: I'm Andrew Dickens. Good morning.
17:31
Speaker 1: Look the news you need this morning and the in
17:36
Speaker 1: depth analysis Early Edition with Andrew Dickens and one roof
17:40
Speaker 1: Make your Property Search Simple, News Talk Sippy.
17:49
Speaker 2: Everybody. Good morning, Jar, welcome back. I'm Andrew Dickins. I'm
18:01
Speaker 2: here for a while because Heather had a baby and
18:04
Speaker 2: that just has impacts all the way down the line.
18:06
Speaker 2: So I hope you enjoyed the program. Thank you so much.
18:08
Speaker 2: You can text me ninety two ninety two. Ben has
18:11
Speaker 2: just texted and said New Zealand had a Trump government
18:13
Speaker 2: last election cycle and look where that got us. So
18:15
Speaker 2: this is true enough. The absolute majority, the total power.
18:18
Speaker 2: I mean, you're either really left or you're really right,
18:20
Speaker 2: or you're really crazy. And what was that old saying
18:23
Speaker 2: power corrupts, Absolute power corrupts absolutely. Donald Trump has the power,
18:29
Speaker 2: and that's for sure. Christopher Luxan does not have the power.
18:33
Speaker 2: Today as the first day of the Year of the Snake,
18:35
Speaker 2: the Year of the Snake in Chinese culture, the snake
18:38
Speaker 2: is a symbol of wisdom, mystery, and elegance. The Year
18:42
Speaker 2: of the Snake is a time for renewal and adaptability.
18:46
Speaker 2: People born in the Year of the Snake are said
18:48
Speaker 2: to be mysterious and charming and intuitive, and people born
18:53
Speaker 2: in the Year of the snake apparently get on with
18:55
Speaker 2: people born as oxes and roosters. How does a snake
19:01
Speaker 2: get on with a rooster? Myself personally, I'm a year
19:05
Speaker 2: of the rabbit.
19:05
Speaker 5: Apparently.
19:06
Speaker 2: People born in the Year of the Rabbit are said
19:07
Speaker 2: to be lucky, calm, peaceful, artistic and elegant. I don't
19:13
Speaker 2: believe any of this poppy cock, by the way, but
19:16
Speaker 2: what I do believe in. What I do like is
19:18
Speaker 2: Chinese food, lanterns and fireworks, and that's happening for a month,
19:21
Speaker 2: So bring it on.
19:23
Speaker 8: Andrew Dickens twenty two to sixis go around New Zealand,
19:27
Speaker 8: Calum Proctor from dnaeding Good morning to you morning Andrew,
19:31
Speaker 8: on another pathway to becoming a Third World See all
19:34
Speaker 8: roads are on route to become a luxury In the
19:36
Speaker 8: South Island.
19:38
Speaker 9: It turns out it's this case in South On the
19:41
Speaker 9: District Council there will today consider whether it's a revert
19:44
Speaker 9: sections of three roads back to gravel Look. South And
19:49
Speaker 9: has the second largest road network in New Zealand, but
19:52
Speaker 9: a small ratepayer base and that force of sacrifices to
19:56
Speaker 9: be made after they failed secure enough government cash. A
20:00
Speaker 9: staff reports says the cash shortfall in the National Land
20:03
Speaker 9: Transport Plan means levels of service needs to be reduced
20:06
Speaker 9: at states the cost of maintaining Southland's two thousand kilometers
20:10
Speaker 9: of sealed roads is unsustainable without further investment.
20:13
Speaker 2: How's your weather got light?
20:16
Speaker 9: Rain clearing to find spells for end of Cargol adonitin
20:19
Speaker 9: this morning gale Northwest as as well du led Inside
20:22
Speaker 9: twenty three and for Cargol eighteen.
20:24
Speaker 2: Very good stuff. And now we go to christ Rich
20:26
Speaker 2: Claire Sherwood, good morning to you.
20:28
Speaker 10: Good morning.
20:29
Speaker 2: Christchurch's mayor is officially in campaign mode. I thought he
20:31
Speaker 2: was that doing that when he'd got the tow truck out.
20:34
Speaker 2: Oh well no, he.
20:35
Speaker 10: Says that was not a stunt. Andrew, You've got to
20:37
Speaker 10: be clear about this. Look film Major says he has
20:40
Speaker 10: unfinished business in the city and that's the reason behind
20:43
Speaker 10: his bid for reelection. He has confirmed be seeking out
20:46
Speaker 10: another term come October. Of course, that announcement came a
20:48
Speaker 10: few days earlier than planned, when we, among others, noticed
20:52
Speaker 10: that his website had gone live a bit earlier than planned.
20:55
Speaker 10: He'll be up against a third term city councilor, Sarah Templeton.
20:58
Speaker 10: She's the only other content is so far. Mayor says
21:01
Speaker 10: he disagrees with anyone who says the Garden City needs
21:04
Speaker 10: a change in leadership, which would undoubtedly lead to larger
21:08
Speaker 10: rate increases according to film major. He says the city
21:11
Speaker 10: council has to work on reducing its costs and getting
21:14
Speaker 10: some basic commitments right.
21:16
Speaker 2: Very good and how's your weather?
21:17
Speaker 10: A bit cloudy today? There is a period of light
21:19
Speaker 10: rain expected and the chance of some showers by evening.
21:22
Speaker 10: Northwesterly is turning easterly, a high of fourteen.
21:24
Speaker 2: Okay, Srewood, I thank you. Max Toll joins with me
21:27
Speaker 2: from Wellington Morning, Max, Good morning. Got a couple of
21:30
Speaker 2: bad dairy smashing grabs?
21:32
Speaker 11: Yeah, there was a police chase in fact through Upper
21:34
Speaker 11: Hut yesterday morning. Some kids not back in school apparently
21:38
Speaker 11: for youths had apparently robbed a a dairy on Akatallawa Road.
21:42
Speaker 11: Their car was picked up later when they actually smashed
21:46
Speaker 11: into a member of the public's car at the Silver
21:48
Speaker 11: Stream Bridge. Those kids taken into custody. Thankfully no one
21:52
Speaker 11: was hurt. Another dairy as well yesterday Patel's superratt in
21:57
Speaker 11: Ardore Valley was broken into yesterday morning a similar time.
22:01
Speaker 11: Police not saying whether the two robberies or attempted robberies
22:05
Speaker 11: are related. And that's on Idol Street, sort of opposite
22:08
Speaker 11: the Garage Project tap room. Quite a nice part of town.
22:11
Speaker 11: Police investigating.
22:13
Speaker 2: Very good.
22:13
Speaker 11: How to your weather, parley cloudy for much of the
22:16
Speaker 11: day's strong winds and northerlys. The high twenty in the CBD.
22:20
Speaker 2: Hello Neva Retamanu, Good morning Andrew.
22:22
Speaker 5: Should I see you?
22:24
Speaker 2: Lovely to see you. They found a little bird, very
22:26
Speaker 2: very rare on the tip of the fung Apa Peninsula.
22:28
Speaker 2: That's right, they have.
22:29
Speaker 12: So what we know is that this rare bird species thriving,
22:33
Speaker 12: thriving at the regional park there in Funga Padola at
22:36
Speaker 12: least fifty five he heat or stitch bood chicks. Now
22:40
Speaker 12: that've hetch This is at Shakespeare Regional Park's open sanctuary.
22:43
Speaker 12: This has happened this summer. Have you been out there?
22:45
Speaker 2: Oh yeah, oh right, I haven't lovely. It's amazing.
22:49
Speaker 12: Really well, we must make that little weed trip. I
22:51
Speaker 12: think the last time I was out in funk Padora
22:53
Speaker 12: was five years old. I need to get out more so. Anyway,
22:56
Speaker 12: this is the first with the species in more than
22:58
Speaker 12: one hundred years and obviously the offspring of a group
23:01
Speaker 12: of about forty adult he he Now they were moved
23:03
Speaker 12: from the nearby Titdy Titty Martini item last June, so
23:07
Speaker 12: it's thought. Apparently there are just two thousand he heat
23:09
Speaker 12: in the entire country, so this is pretty cool.
23:12
Speaker 2: Go the he heat, go the he heat. How's the
23:13
Speaker 2: weather aha?
23:14
Speaker 12: Okay, partly cloudy, isolated showers twenty fours a high today
23:18
Speaker 12: here in Auckland.
23:18
Speaker 2: E rect to matter way, thank you so much for
23:20
Speaker 2: it's now eighteen minutes to Sex to see. I just
23:21
Speaker 2: got an email for some reason from somebody who does
23:24
Speaker 2: research and has come up with Britain's cigarette spending habits. Apparently,
23:29
Speaker 2: the average Britt smokes ten point six cigarettes per day
23:32
Speaker 2: costs an average of forty nine eighty that's forty nine
23:35
Speaker 2: quid eighty a week or two hundred and sixteen pounds
23:39
Speaker 2: a month, or two and a half thousand pounds a year.
23:42
Speaker 2: Ten cigarettes per day for ten years would cost your
23:44
Speaker 2: average brit twenty five actually twenty six thousand pounds over
23:49
Speaker 2: twenty five years, sixty five thousand pounds, and that's ten
23:54
Speaker 2: a day. I have a shameful admission to make. I
23:57
Speaker 2: bought a pack of cigarettes over the Christmas given up.
24:01
Speaker 2: I've been given up for eight years. But I thought, i'd,
24:03
Speaker 2: you know, just treat myself. And I walked and I
24:06
Speaker 2: got a packet of twenty five and it was forty
24:08
Speaker 2: eight bucks. Guess what. I've given up cigarette smoking again.
24:13
Speaker 2: Gale Downy from the UK is next to seventeen to.
24:15
Speaker 1: Six international correspondence with ins and Eye Insurance, Peace of
24:20
Speaker 1: Mind for New Zealand Business.
24:23
Speaker 2: Fourteen to six to the UK. We go and Gale
24:25
Speaker 2: down And joins us all a Gale, Hello Andrew well
24:28
Speaker 2: net Migration is increasing the population to seventy two and
24:32
Speaker 2: a half million in the next seven years. That's a
24:33
Speaker 2: next to ten million people. You're booming.
24:36
Speaker 13: We are booming and the projective figures come from the
24:39
Speaker 13: Office of National Statistics which also reveal almost five million
24:43
Speaker 13: people are leaving the country to live elsewhere, so that's
24:47
Speaker 13: ten million in and five million out. The government says
24:50
Speaker 13: it wants to bring down the staggeringly high levels of migration,
24:54
Speaker 13: but it won't put an arbitrary cap on the numbers
24:56
Speaker 13: of people coming in. England is expected have the highest
25:00
Speaker 13: number of immigrants, with Northern Ireland the lowest. The number
25:04
Speaker 13: of births and deaths between twenty twenty two and twenty
25:07
Speaker 13: thirty two is expected to be equal, but there will
25:10
Speaker 13: be one point seven million more pensioners now. Concern has
25:14
Speaker 13: been raised by opposition MPs. The Shadow Home Secretary Chris
25:17
Speaker 13: Philip so the number immigrating long term to the UK
25:21
Speaker 13: was shocking and unacceptable. A government spokesperson said they would
25:24
Speaker 13: link immigration skills and visas to grow the domestic workforce
25:29
Speaker 13: and end the reliance on overseas labor and boost economic growth.
25:33
Speaker 2: Have you got enough houses?
25:36
Speaker 13: Well, that's the big thing. And of course at the
25:38
Speaker 13: moment the government is looking at how ways of encouraging
25:42
Speaker 13: developers to build more houses, which is fine except that
25:46
Speaker 13: many people don't want the houses in their backyard.
25:50
Speaker 2: No kidding, all right. So the AMAB bombing in Northern Ireland,
25:55
Speaker 2: when did that happen?
25:57
Speaker 13: Oh, that was back in ninety in eighty eight, forgiveness figured.
26:05
Speaker 2: The last interest, so quite a way away.
26:09
Speaker 13: Before the peace Sorry O, apologies. It was actually before
26:13
Speaker 13: the Good Friday Agreement, which is it was just after
26:18
Speaker 13: the Good Friday Agreement, which was the signing of a
26:22
Speaker 13: peace deal which brought to an end decades of violence
26:25
Speaker 13: known as the Troubles. So it was just you know, say,
26:28
Speaker 13: it was four months after that was signed.
26:30
Speaker 2: So with having acquire an inquiry, an awful long time
26:33
Speaker 2: after the fact that you have to say, we're having
26:34
Speaker 2: an inquiry into the bombing in Northern Ireland. It killed
26:37
Speaker 2: twenty nine people and the attack was under the real
26:40
Speaker 2: it was the worst atrostity of the Troubles. What can
26:42
Speaker 2: we report from today.
26:44
Speaker 13: Well, what we know today is that two Spanish students
26:48
Speaker 13: were killed in the bombing. They've been visiting the town
26:51
Speaker 13: of Omar on a language exchange group and written testimony
26:55
Speaker 13: was heard from the families giving a bit of background
26:57
Speaker 13: about them, about their personalities. We know that family members
27:01
Speaker 13: of other victims are expected to give evidence either in
27:04
Speaker 13: person or through their lawyers during the four week hearing.
27:08
Speaker 13: And as you mentioned, it's been a long time since
27:11
Speaker 13: that happened. To now an inquiry is to determine whether
27:16
Speaker 13: the bombing could have been prevented, and the handling and
27:19
Speaker 13: sharing of intelligence at the time by state authorities.
27:24
Speaker 2: Very good stuff, Gail Downey, I thank you so much.
27:26
Speaker 2: That is Gail Downey reporting for us out of the
27:28
Speaker 2: United Kingdom and the time right now is eleven to six.
27:31
Speaker 2: Andrew dickens Privatization is the hot word of the day
27:34
Speaker 2: and Prime Minister Christopher Luxen has floated taking esset sales
27:37
Speaker 2: and privatization and asset recycling to nixt year's election to
27:41
Speaker 2: get a mandate. He said this just days after ECC
27:44
Speaker 2: leader David Seymour suggested the idea during the State of
27:47
Speaker 2: the Nation speech. We're all talking privatization. Treasury has pointed
27:51
Speaker 2: to some government agencies that aren't performing as well as
27:54
Speaker 2: they should. We're looking at UQV and this they could
27:58
Speaker 2: potentially be the first to be sold off. So Infrastructure
28:00
Speaker 2: in New Zealand Chief Executive Nick Leggan joins me now
28:03
Speaker 2: on the program. Hello Nick, Hello, in your opinion, how
28:07
Speaker 2: would the economy benefit from asset sales?
28:10
Speaker 5: Well, how is the country benefit? And I think what
28:12
Speaker 5: we've got to do is take this discussion back a bit,
28:16
Speaker 5: because it's not just about howking off assets and running
28:20
Speaker 5: away with the money. It's about what can you sensibly
28:25
Speaker 5: build if you release funds in a different way, and
28:27
Speaker 5: so that whole I think the idea of asset partnerships,
28:31
Speaker 5: asset recycling, where the government takes a look at it,
28:34
Speaker 5: all the asset assets it owns and says, right, we
28:37
Speaker 5: can release the money here. We could perhaps have a
28:39
Speaker 5: joint ownership with the private sector and we're going to
28:42
Speaker 5: build a school, a hospital, a light rail or a road.
28:48
Speaker 5: And this is how New Zealander's lives are going to
28:50
Speaker 5: be improved and how the economy is going to be
28:52
Speaker 5: improved for the long term. New South Wales did this.
28:56
Speaker 5: It was taken to the state election I think about
28:58
Speaker 5: twelve years ago and it was sold to the electorate
29:02
Speaker 5: and surprise, surprise, there was actually I don't say that
29:07
Speaker 5: in any sarcastic way, but actually the government, the state
29:10
Speaker 5: government delivered and you're still seeing the benefit of that
29:13
Speaker 5: and the regeneration of Sydney, of regional New South Wales.
29:17
Speaker 5: If you think about the light rail and those really
29:19
Speaker 5: exciting public spaces in central Sydney, associated uplifted housing and
29:26
Speaker 5: other economic improvements, all that happened because the state said,
29:31
Speaker 5: how can we better use our balance sheet for the
29:34
Speaker 5: benefit of social and economic progress. And that's the discussion
29:38
Speaker 5: this country has to have. It's not about this binary
29:42
Speaker 5: yes we should sell or no we shouldn't sell an asset.
29:44
Speaker 5: It's what that improves for people and jobs and growth
29:49
Speaker 5: over the long term. And that's the question New Zealand
29:53
Speaker 5: needs to ask itself. We are slipping behind internationally. The
29:57
Speaker 5: amount of money that we earn from exports is pales
30:00
Speaker 5: in comparison to some countries of similar size in the OECD.
30:05
Speaker 5: We know we've got to kick start our education and
30:08
Speaker 5: health systems if we want to retain the kind of
30:12
Speaker 5: country that I think probably people have come to expect.
30:15
Speaker 5: And it's about doing things differently.
30:17
Speaker 2: Okay, and of course everyone goes well overseas capital. But
30:20
Speaker 2: of course there is a possibility of Kiwisaber or the
30:22
Speaker 2: New Zealand Superfund or any New Zealand.
30:26
Speaker 5: Groups EWE groups. Look, this doesn't have to be This
30:29
Speaker 5: is not about a foreign grab. The other point about
30:32
Speaker 5: it is we have a pitiful reputation and record of
30:37
Speaker 5: managing the assets we actually build and own. Look at roads,
30:42
Speaker 5: look at schools, look at hospitals. When you get some
30:45
Speaker 5: private sector discipline into these assets, you actually improve that
30:50
Speaker 5: long term life because you can build maintenance and renewal
30:54
Speaker 5: into the contracts.
30:56
Speaker 2: The problem, I say, the problem though, Nick, is, of
30:58
Speaker 2: course everyone looks at Kiwi Rail where we sold it
31:00
Speaker 2: and then they stripped it and then and then we
31:02
Speaker 2: had to buy it back, and they think, well, that's so.
31:04
Speaker 2: Sometimes it's not that private is always perfect. But you know, hey,
31:08
Speaker 2: but he's.
31:09
Speaker 5: Going with your eyes wide open, Andrew, you can build
31:12
Speaker 5: those sort of things and protect the asset and build
31:16
Speaker 5: long term maintenance and prevent assets stripping in the contracts
31:19
Speaker 5: that you're right that these things are you can overcome them.
31:23
Speaker 5: And I just think we need to really ask ourselves
31:26
Speaker 5: the kind of country that we want to build and become.
31:28
Speaker 5: What are we building towards, and then we can decide
31:30
Speaker 5: how we deliver that. Because we can't keep writing checks
31:33
Speaker 5: that the public can't cash. We have to think of
31:37
Speaker 5: different ways of funding things. And it's all it's not
31:39
Speaker 5: about selling everything and building in this way. It's about
31:42
Speaker 5: can we do things better in some areas? And I
31:45
Speaker 5: think a more balanced approach one that where people understand
31:49
Speaker 5: what we're going to actually get recognizing that when you
31:51
Speaker 5: sell something, you've actually still got to service the cost.
31:53
Speaker 5: So it's not this perfect, wonderful world. We have to
31:56
Speaker 5: ask ourselves these questions.
31:58
Speaker 2: Nick, I thank you so much for your today. Neck
32:00
Speaker 2: is the infrastructure of New Zealand CEO. Remember the government apparently
32:04
Speaker 2: we'll be seeking a mandate in twenty twenty seven, So
32:06
Speaker 2: this is not something that's happening tomorrow. This it's now
32:11
Speaker 2: what seven to six, and you can hear the thump again,
32:13
Speaker 2: the bumping because the man is in the studio.
32:16
Speaker 1: The first word on the News of the Day early
32:19
Speaker 1: edition with Andrew Dickens and one Room to make your
32:22
Speaker 1: property surge and simple you talk, zippy.
32:27
Speaker 14: Mike Hosking, Welcome, well greetings. I was going to say,
32:32
Speaker 14: if you read Richard Prebble's piece this morning this morning,
32:35
Speaker 14: you should because it's, first of all, I'm perplexed about
32:40
Speaker 14: this sale of stuff. It's not happening. No, there's no one.
32:44
Speaker 14: It's not a gender. It's that this government's going to
32:48
Speaker 14: you know what I'm saying, And so it's we've got
32:50
Speaker 14: more important things to think about at the moment.
32:52
Speaker 2: I would argue, but there are fans of the economic
32:54
Speaker 2: growth that it may provide, which says this is all
32:56
Speaker 2: part of what the Prime minister wants.
32:58
Speaker 14: Well, that's good and while we said and around, if
33:00
Speaker 14: he wants that, then he'll argue it in a year
33:03
Speaker 14: and a half's time when we go to the election,
33:04
Speaker 14: make it part of the campaign and that will be fantastic,
33:06
Speaker 14: will have that debate in the meantime. I remember I
33:08
Speaker 14: was working at TV and Z when when they were
33:10
Speaker 14: going to get sold off, and that was under the
33:13
Speaker 14: Shipley Bulger government and everything was being primed up and
33:16
Speaker 14: we were going to get see TV and Z in
33:17
Speaker 14: those days was worth they thought several hundred million dollars.
33:21
Speaker 14: These days what he reckon's worth thirty seven cents for parts.
33:24
Speaker 2: I was I was going to say twenty.
33:25
Speaker 14: So what have we got that we would sell that's
33:28
Speaker 14: actually valuable because when they took about half a trillion
33:30
Speaker 14: dollars worth of assets, you're talking.
33:31
Speaker 2: About roads and courtlands.
33:33
Speaker 14: Yeah, but I mean, okay, see you sell off some farms, good,
33:35
Speaker 14: what else?
33:35
Speaker 2: You know, there's nothing left?
33:37
Speaker 14: You know what I'm saying. I mean that you're not
33:39
Speaker 14: selling hospitals, you're not selling roads, and those are the assets.
33:42
Speaker 2: So can I ask you a very important question. As
33:45
Speaker 2: the rubbish bin in the correct position, it's well.
33:47
Speaker 14: It's certainly that. Just where do you want with an
33:51
Speaker 14: easy reach, with a gentle reach, it's clean, don't move it. Well,
33:55
Speaker 14: I cleaned it. The reason it's clean is I cleaned it.
33:57
Speaker 2: I cleaned it on Monday.
33:59
Speaker 6: Did you.
34:01
Speaker 7: For more?
34:01
Speaker 1: Fam earlier edition with Ryan Bridge. Listen live to Newstalk
34:05
Speaker 1: SETB from five am weekdays, or follow the podcast on iHeartRadio.