September 18, 2024 • 34 mins
On the Early Edition with Ryan Bridge Full Show Podcast for Thursday 19th of September, GDP data is coming out today, and the forecasts aren't good. Ryan speaks to BNZ's Chief Economist Mike Jones.
The jury is out on the Polkinghorne murder trial. When could we see a verdict, and what are the chances of a hung jury? NZ Herald Court Reporter Craig Kapitan joins the show to explain.
The new Ministerial Advisory Group for retail crime has some new members, so what are their plans and how are they going to make a difference? Retail NZ's Carolyn Young speaks to Ryan.
Get the Early Edition with Ryan Bridge Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.
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Episode Transcript
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Speaker 1 (00:01):
The issues, the interviews and the inside Ryan Bridge you
for twenty twenty four on the early edition with Smith City,
New Zealand's furniture beds and the play at stores US talks.
Speaker 2 (00:15):
It'd be good morning, great to have your company just
gone six after five on your Thursday morning, before six
o'clock this morning. How big was that recession in the
last quarter. We'll find out today. What does it mean
for your mortgage and why a fraction of a percent
could count July Sorry, the jury rather is out in
the Pokinghorn trial. What do they need to know in
(00:37):
order to convict him? We'll ask our court reporter, our
US correspondent looks at the White House, having no idea
about his spiller, the attack on his buller and the
pages yesterday. It's all ahead.
Speaker 3 (00:52):
The agenda.
Speaker 2 (00:54):
It is Thursday, the nineteenth of August. First pages. Now
walky talkie is being used by Hezbela have exploded, killing
three people and injuring at least one hundred. This is
deepening the sense of insecurity that was very palpable in
the aftermath of yesterday's A pager of bombings. Ukraine has
(01:16):
conducted a drone attack against a Russian missile facility, causing
a huge explosion in that facility three hundred and seventy
kilometers from the capital Moscow. The explosion was picked up
by a Norwegian earthquake monitoring agency, registering as a magnitude
(01:37):
three point two. Google is celebrating this morning. Google has
won an appeal against its two point six billion dollar
fine for blocking rivals from displaying search ads. Remember this
was going on in Europe. The European Commission, a court
in Europe, said they imposed the fine. They said they
committed errors in their assessment. The Commission says it's exploring
(01:58):
its next steps back home. Winston Peters had a bit
of a winge, a bit of a lash out in
Parliament yesterday, saying standards are dropping, taking aim at Tapati Maldi,
MP Takutai Ferris who read a speech off a laptop
in the space of just three years.
Speaker 4 (02:13):
The standards of this house of massive you decayed.
Speaker 3 (02:16):
The Murray Party in Green's Don't Know Stanning orders News
and Views you trust to start your day. It's early
edition with Ryan Bridge and Smith City, New Zealand's furniture
beds and a flying store.
Speaker 2 (02:27):
News talk said be people are coming in here with
hats on and bare feet and all sorts of things.
It doesn't really bother me what people wear. I suppose it.
It is nice to see people looking tidy in Parliament,
but I don't necessarily think everybody needs to be suit
and tie. Nine two nine two is the number to text.
He does have a point on the standards more generally,
especially when it comes to question time. Oh my goodness, Hey,
(02:51):
two big things happening today. One is the Federal Reserve
in the United States. In fact, this is going to
happen in the next hour. I think in exactly an
hour from now, we will hear what their decision is
on a rate cut there. It's been four long years
since they last cut rates. And will it be a
quarter of a percent? Will it be half a percent?
And what will that mean? Could that drive up demand
(03:12):
for the New Zealand dollar. Could we see a bit
of a rally on the kiwi and the Australian dollar
this morning? We'll have to stay tuned and watch that one. Interestingly,
I was reading this morning The Wall Street Journal has
a piece retail assets in money market funds totaled two
point six trillion dollars last week. That was up from
one point five trillion in September of twenty twenty two.
(03:32):
So when the rates go up, that's where people put
their money, and there's going to be a lot of
that money floating around looking for a home once rates
start coming down. We've also got our GDP, but we'll
talk about that before four six. Lester Levy is a
part time commissioner. He is a part timer. Do we care?
(03:53):
Nine two ninety two the number to text at first?
Listen to Chippy. He's obviously upset.
Speaker 5 (03:57):
I don't think it's a part time role. I mean
he is now responsible for running the entire hospital system
across the country.
Speaker 2 (04:04):
That is a full time job. I thought, Yeah, you've
got a point. Actually you should if this is your
big job. They've sacked the whole board. But he's not
running the Chibby says he's running the health system. He's not.
That's Margie upper He Lester Levy is a sit in
for the board who they've basically sacked because they were
all or they left because they didn't like what they
(04:24):
were doing, or they were useless, or a combination of both.
So if the chair of the board of Fonterra had
another job. Would you be surprised? No, because when you're
on boards, you have multiple directorships and you know you
do it. But if you're running the places the CEO,
if the CEO of Fonterra was part time at Packinsafe,
(04:47):
you'd be asking questions. So I'm split on this one.
I'm split. He has been paid three hundred and twenty
one thousand dollars a year and he's doing two days
a week at universities teaching students about it or something.
Nine two nine two. Would love your views on that.
This morning is just gone eleven minutes after five.
Speaker 3 (05:05):
Bryan Bridge.
Speaker 2 (05:10):
And some good news as we go to the break.
We are feeling more optimistic as we look ahead to
the GDP data out today. We are feeling good. According
to the latest west Pac Mcdermocmiller Consumer Confidence Index, it
was up nine points to ninety point eight in the
September quarter. It's still low but slightly up, so we'll
take that win. Yeah. A net fourteen percent of respondents
(05:35):
say they expect to be worse off financially in the
next year, but that is down from a net thirty
percent who felt that way in the June quarter. So
that's good news. What we want today actually is a
bad GDP number between you and me. We want a
bad GDP number because then Adrian All will have to
cut the rates sooner and then Tory Farno can buy
(05:58):
her carback.
Speaker 3 (06:05):
The news you need this morning and the in depth
analysis early edition with Ryan Bridge and swith City, New
Zealand's furniture Beds and a playing store.
Speaker 2 (06:14):
News Talks'd be fourteen after five on News Talks B
and Z and their view on what will happen with
GDP today coming your way just before six o'clock. Also,
there is an asteroid. I feel like we've done a
lot of space news lately, a lot. There is an
asteroid the size of a stadium and another one the
size of a skyscraper currently hurtling towards us, So stand
(06:35):
by for that fourteen after five. Retail crime up eighty
six percent in the last five years. There are members
of the Ministerial Advisory Group aiming to fix that that
have been named reps from Retailing, Zed Food Staff's Michael Hill.
They're all involved. Ash Palmer, who was an AT Party candidate,
and Sunny Kaschell's obviously in their two Carolyn Young is
(06:56):
on there on the Advisory Group Retailians Chief Zive and
she joins me this morning. Carolyn, good morning, whatever, Ryan,
thank you for being with me. Are you worried this
will be just another working group that gets nothing done?
Speaker 6 (07:11):
Absolutely not. No, We're really determined to make a difference
and we're all actively involved in retail so understand the
impacts that retail crime has been having on businesses and
their staff and wanting to make sure that we can
provide a safe environment for staff to go to work
and for customers to enjoy being able to come into
the stores.
Speaker 2 (07:31):
One of the issues you're going to look at is
the security guards. Are you going to tackle this issue? Literally?
Do you think we should empower security guards to actually
go after shoplifters and get them on the ground until
the cops come.
Speaker 6 (07:46):
Look, there's a wide variety of issues that will be canvassing,
and people's got very different views because businesses use security
guards in different ways, and so we need to actually understand.
Speaker 2 (07:57):
What's you Caaren viewing on that well.
Speaker 6 (08:01):
Retail in New Zealander. We've got a working group that
we're working on and we'll be consulting back into the
Ministry Advisory Group. There's a balance around what you can
do because when you think about, you know, your word
through tackling estenders. I mean, that's a really difficult thing
to do, and you have to be highly trained to
be able to do that. If you're going to hold
(08:23):
on to somebody, you need somewhere to be safe to
be able to do that. So there's a lot of
things to take into account. We need to ensure that
security guards are better trained and have greater resources, that
they can have skills that they.
Speaker 2 (08:37):
Can sounds to me like that we won't be tackling shoplifters.
Speaker 6 (08:43):
Yeah, I don't think we'll be tackling shoplifters.
Speaker 2 (08:45):
That's all right. Hey, what about I'm interested in the
facial tech recognition technology. If I steal something, you know,
my face? What happens if I try and enter the
store again? You know, because obviously you're not going to
tackle me. So and I'm trying to get an do
the doors close automatically? How does that work?
Speaker 4 (09:04):
So?
Speaker 6 (09:04):
How it works as facial recognition is loads up people that,
as you say, have offended in the store, and the
stores have got a photo of that person who's offended
or been trespassed from the store. There's only a couple
of cameras at the entry of the store, they capture
image of somebody that's against that photo. Then the assessment
(09:29):
is done to ensure is that the same person, because
obviously people look differently on different days, And then the
store can determine a range of ways in which they
can intervene or not. So they might actively intervene. They
might go and talk to the person and say, hey,
Carolyn Young, you know you're not meant to be in
the store. You've been trespassed in. The store would really
(09:50):
ask you kindly to leave. And the police will tell
you eight percent of the time when you actually go
and approach an offender and someone that's not meant to
be there, they will turn around and walk out. There'll
be no further interaction.
Speaker 2 (10:03):
And the rest of the rest you've got to tackle.
Speaker 6 (10:09):
You might also just decide to monitor that person in
the store, so you might just observe what they're doing,
and knowing who's in the store and the types of
offenses that have done before actually gives the staff and
the store more confidence that they can manage that potential
interaction that's going to happen. So you've caught one steper
here because you've you know that you've had an alert
(10:29):
that's identified you of a person that's in the store
that has either been violent or sole and stuff.
Speaker 2 (10:35):
And I guess that then all the staff will know
that as well, right, Carolyn, thank you very much for
joining us this morning. Carolyn Young Retailing is the chief
executive on this group, which she says is not just
another working group. It will get something done. We will
follow up on progress from that particular group, that advisory
group to the minister. It is nineteen minutes after five.
Coming up next the Polkinghorn trial. The jury is out.
(10:59):
What do they need to see today for a potential
verdict potential conviction of Philip Polkinghorn by the end of
the day.
Speaker 3 (11:09):
The first word on the News of the Day early
edition with Ryan Bridge and Smith City, New Zealand's furniture
beds and a play at store News Talk SIVV.
Speaker 2 (11:18):
Twenty one minutes after five, News Talk said, b we
are going to the United States. Our US correspondent will
be with us after the news At five point thirty,
What did the White House know about the Hisbilla Page's
attack that was imminent. What did Israel tell them about that?
We'll look at that shortly. Right now though here in
New Zealand, the fate of Philip Polkinghorn now lies in
(11:40):
a jury of eight women and three men. We could
have a verdict by today or in the next couple
of days. And the murder trial over the death of
his wife, Pauline Hannah in twenty twenty one, seven weeks
eighty witnesses. The jury is out for deliberation and Craig
Capitana is with us. He's the New Zealand Herald Court reporter.
Craig Good morning morning, Ryan, how are you very well?
(12:01):
Thanks for being with me. What is this jury deciding on? Basically?
Is it essentially was this murder or was this suicide?
Speaker 6 (12:12):
Yeah?
Speaker 4 (12:12):
The Crown says this is a very binary decision. The facts,
the way the house was found, they really only have
two decisions. Is a murder or suicide.
Speaker 2 (12:23):
Is and if there's a chance that this was suicide.
Are they not able to find Philip Pulkinghorn guilty of murder?
Speaker 4 (12:34):
Well, they do have a lesser charge then they can
vote on, which is manslaughter, But that hasn't really been
discussed by the crown or the defense and closing arguments,
So that's more of a technicality. Really, I would imagine
they will definitely be coming back with a guilty or
(12:54):
not guilty to murder it it appears, and if it's
not guilty, there's a very good chance he'll be walking
out of the court.
Speaker 2 (13:00):
Right and that could be happening as early today. I mean,
it's a stupid question to ask, how long do you
deliberate for? How long is a pace of straight.
Speaker 4 (13:08):
Yeah, it's anybody's guess. But if I had, if I
had to guess, i'd say it's not going to be quick.
But that comes with the caveat that I'm almost one
hundred percent wrong on these guesses, so who knows.
Speaker 2 (13:23):
I appreciate honesty.
Speaker 4 (13:25):
Yeah, if they do go past today, court won't be
sitting tomorrow, so we'll stretch into week nine. If if
it takes more than a day.
Speaker 2 (13:34):
Took us through the unanimous versus majority verdict, what what
you need to get and how that operates.
Speaker 4 (13:42):
Well, Uh, they're gonna have to sit and work towards
an unanimous for for quite a while. That's I think
the minimum is four hours, but usually it's much longer.
If they can't make a decision by then, the judge
will give them a direction that they can. At some
(14:04):
point they can have a unanimous for adicting Stead, which
only allows one person to dissent. So sorry, that was
twelve jurors, but one juror was dismissed a couple weeks
ago because this trial has run so long, So we
have eleven jurors. Now, technically we could have a ten
to one vote for guilty or not guilty and with
(14:26):
the good gil, but that's going to be a little
bit down the track.
Speaker 2 (14:29):
Yeah, And if that's not possible, then we get to
a hung jury, and then we get to a potential retrial,
don't we. We're in that territory.
Speaker 4 (14:36):
Yeah, still remind me of that.
Speaker 2 (14:39):
Craig, thank you very much for that. Great to understand
and talk through exactly what people can expect from this decision,
which we, as you say, may get today, may get
next week. Craig Capitan with US New Zealand Herald Court
reporter covering the Polkinghorn trial. It is twenty five minutes
after five loads of your feedback coming in on Lester
Levy will get to that shortly.
Speaker 3 (14:58):
The early edition show podcast on iHeartRadio powered by News
Talks AV.
Speaker 2 (15:04):
People are talking about Tory Farno one hundred and ninety
thousand dollars a year, having to sell a car just
to get by, and I don't want to talk about
her and her personal finances. Frankly, this is about us.
This is about us, the voters, the taxpayers, the ratepayers.
We're all forced on this ship being sailed by captains
that half of us didn't vote for, and what can
(15:25):
sometimes feel a little bit like the Titanic. And we
can all work more to get more. This is salary
and wages, wealth. We can all work more to get more.
We can work smarter, we can invest more, we can
grow our eggs a little bit more, and many of
us do. The media net worth of a Kiwi household
in twenty twenty one was around four hundred thousand dollars.
And some people take great risks to grow theirs and
(15:48):
they deserve the rewards of that. Many of us fail
in business, and we don't talk about that much. Many
have mortgage their family homes and you'll find them inside
there at nighttime, light on in the bedroom, not sleeping
with the stress of how they're going to make it work,
how they're going to keep the lights on, how they're
going to innovate, keep staff on, hire more staff, etc.
(16:08):
Others with one, two, three jobs to improve their lot.
And most people aspire to create more wealth, not out
of sheer selfishness. Well some do, sure, but for most
of us it's about providing for their families, leaving something
behind for their kids, and being set up so that
their husband or wife is taken care of if they
are to die early. And for most of us, wealth
(16:30):
is not evil. It's actually an act of loving those
people around you, those people you care about, which is
why when politicians come knocking at the door demanding a
so called wealth tax, or that the wealthy pay more,
not just income tax, but those imaginary wealth taxes too,
we get so touchy about it, don't we. We're like
(16:52):
when my dog's eating dinner and I try and approach it.
That's how we feel. As a collective get away, it's mine,
hands off. The irony in this is that Tory Farner
is part of the Greens who advocate for exactly this
type of approach. They say tax is love, not wealth
is love, and sure, when money is well spent and
(17:13):
services delivered. Maybe tax is love, but cycle bridges to
know where half million dollar bike racks, contractor and consultant
money scrambles. They don't feel like love to me. They
feel more like abuse. Bryan Bridge, twenty nine minutes after
five nineteen ninety two is the number for your feedback
this morning? Is there anything wrong with wealth? Is there
(17:36):
anything wrong with Tory Farner winning one hundred?
Speaker 3 (17:40):
Get ahead of the headlines, Ryan Bridge, You for twenty
twenty four on early edition with Smith City, New Zealand's
furniture beds and a play at store News Talk.
Speaker 2 (17:49):
Sid be Good Morning, New Zealand. Twenty four minutes away
from six two big story coming your way today. One
is the Federal Reserve in the United States is tipped
to in the next half hour cut interest rates for
the first time in four years in the world's largest economy.
(18:10):
What doll it mean for us? What doll it mean
for our dollar? We've got a US correspondent on the
line in a few moments time. Also here in New Zealand,
Quarter two GDP out today we're looking back. How much
did we grow by? And does a fraction of a
percent difference mean we might get more rate cuts, more
mortgage relief from Adrian or here we'll tell you with
(18:31):
the bnzchief economist Mike Jones before Sex. Right now, though,
can you just breathe a sigh of relief because we
narrowly escaped death last night while everyone was sleeping. This
is a stadium sized asteroid. This is a report from
the BBC, A stadium sized asteroid and another the size
of a skyscraper, big enough to destroy an entire city. Well,
(18:54):
they just cruised on by Earth didn't hit us, which
is good to know. I'm just wondering is it worth
reporting this. I mean, obviously, now that we're safe, I'm
telling you you know that was a stressful sleep. But
if we can't actually do anything about it, do you
want to be told you know? Or would you rather
(19:16):
it just comes down, bang, it's all over and you
were none the wiser. Personally, I prefer the latter. NASA
says we would need many years of warning to divert
a catastrophic asteroid strike, So I say, NASA, next time
you see one, just keep it to yourselves. Twenty two
away from Sex, Bryan Bridge going to our reporters around
(19:36):
the country, Calm proctors and toned in first. Colum high
water levels causing concern at a lagoon in Southland. Yeah,
this is why Tuna Lagoon.
Speaker 1 (19:45):
Ryan.
Speaker 5 (19:46):
It's currently around two and a half meters above its
regular height and so it's having an impact on surrounding roads,
paddocks and farming activities in the area.
Speaker 2 (19:57):
This is just south of Vicargo. The lagoon.
Speaker 5 (19:59):
Environment South Than says it's actively monitoring the levels and
assessing the options to open it up through to the sea.
Any opening needs to be through emergency powers under the
Resource Management Act, which is held by Environments South and
there's also an ongoing consent process here for the longer
term approach to y Turner Lagoon.
Speaker 2 (20:19):
All right, how's your weather today, Colum.
Speaker 5 (20:21):
Afternoon shower, some possibly heavy westerlies and seventeen today.
Speaker 2 (20:25):
Have a great day, Claire sherwoods and Christs this morning, Claire.
Relief over that Sinlane deal.
Speaker 7 (20:31):
Yeah, this was a big story for us yesterday. Ryan shareholders,
of course, voted to approve a two hundred and eighteen
million dollar capital injection for Sinlay that comes from its
two largest shareholders, A two Milk and Bright Dairy. The
company's farmer supplier base had handed in cessation notices. They
were ultimately saying it was affecting milk supply from twenty
(20:51):
twenty six if not withdrawn. Former Federated Farmer's Chair Dairy
Chair and one of Senley's biggest suppliers, Willie Levering says
this is great news for the wider Canterbury region. He
says it's a big employer in Canterbury. In fact, I
think they have fourteen hundred staff. So it's really good
to see this light at the end of this tunnel.
Speaker 2 (21:10):
Totally weather today clear.
Speaker 7 (21:12):
Mainly fine with high cloud. Could be a shower or
two a bit later. Northeasterly is turning northwest from around
to midday. A warm one though, eighteen degrees brilliant.
Speaker 2 (21:21):
Thank you Max Tols and Wellington Max. The woman who
attacked and enzid meat report has being jailed.
Speaker 6 (21:27):
Yeah.
Speaker 8 (21:27):
This is Rosie Modonga, who is also a person of
interest in the baby rou A death a case. She's
admitted eighteen other charges including assault, theft, wilful damage shoplifting
in the hut Valley District Court. She also late last
year after a court appearance, assaulted a reporter from our
newsroom as she left court. She spat on her, yanked
(21:49):
her hair, punched her several times. Our reporter dropped her bag.
During the assault, her phones, bank cards spilled out. They
were stolen used to buy spirits and artie des at
a nearby liquor store. In mentioning that assault, the judge
said the reporting of court events is vital for democracy.
In terms of the baby root case, no outcome in
(22:11):
that yet after some time. Modunger, of course, living in
the same house in Tita with Ru's mother.
Speaker 2 (22:17):
Storm goodness may house your weather today max.
Speaker 8 (22:21):
Cloudy period's the odd shower this afternoon, stronger northerlyast fourteen
the high central.
Speaker 2 (22:26):
Thank you very much. Neva is in Auckland this morning.
Good morning, Neva.
Speaker 9 (22:30):
Morning.
Speaker 2 (22:30):
So what's going on with the blanket speed increases?
Speaker 9 (22:34):
Yeah, now look this is interesting, A planning expert says.
The government's blanket speed increases now they're being opposed by Auckland.
So a report, this is from Auckland Transport and it
shows forty six percent and this is the five hundred
residents it was surveyed, are in favor of speed reductions.
And this is versus thirty eight percent against three quarters
(22:55):
would accept some increase in travel time on a twenty
minute trip, if it helped me travels safer.
Speaker 2 (23:01):
I don't believe any of this.
Speaker 9 (23:02):
Neither you would say that you're thinking five hundred people survey,
does that all.
Speaker 2 (23:08):
That's statistically relevant? I don't know. I don't know. I
don't know, because it depends on the question.
Speaker 9 (23:14):
They ask, well, yes, well there you go. And so
Tim Welch, he's the Auckland University senior planning lecturer. He's saying,
look the story that Simmy and Brown's been saying, people
overwhelmingly want to see faster roads, but the data just
doesn't show that. That's what he's saying. You know why,
I'll say something else. I went to the supermarket yesterday and.
Speaker 2 (23:35):
Am not saying to you.
Speaker 9 (23:37):
When I went in there, I thought, yeah, I couldn't
believe it. But they were having they were selling center chocolate,
marshmallow Center Christmas. You know, chocolate's already September. I couldn't
believe that.
Speaker 2 (23:48):
That is early. That is early.
Speaker 9 (23:49):
And someone in the news room was saying, Camar selling
Christmas pajamas already, that's too early September.
Speaker 2 (23:57):
Come on, I think it's pajamas are and I've never
worn pajamas personally.
Speaker 10 (24:02):
Shut up.
Speaker 2 (24:03):
Do you wear pajamas around the house?
Speaker 9 (24:05):
Don't you wear around the house? I mean sometimes in winter.
I was staying pajamas for like days, days, and I
was thinking, one seed, what do you not? You know?
Speaker 4 (24:14):
Do you not have.
Speaker 2 (24:16):
Birthday? I must pray your one November November. I look
forward tom here.
Speaker 10 (24:22):
That's why we get on with school.
Speaker 2 (24:23):
What date?
Speaker 3 (24:24):
No?
Speaker 8 (24:24):
What dates?
Speaker 2 (24:25):
You wait? Do you say nine sixteen?
Speaker 4 (24:29):
Oh?
Speaker 9 (24:29):
Really?
Speaker 2 (24:30):
Anyway we go, we're getting carried away. Yes, how's the
weather today?
Speaker 9 (24:34):
I was gonna say strong, wisterly, strong wisterlies. We're talking
in this morning, and I have to say we've got showers.
But nz TA sees that from three pm and seven
pm this afternoon, watch out for those winds and lanes
and speeds. Guess where Harbor Bridge Bridge may be impacted.
Speaker 2 (24:51):
Eighteen high scorpios. Nice, nice people, cross us. There's a
sting in that table that's right fourteen away from six.
We're getting to our US correspondent in just a second
for some of your texts this morning. Interesting, we avoided
an asteroid, by the way, narrowly avoided an asteroid on
Earth overnight. The size of a football stadium could have
(25:12):
wiped out an entire city apparently, as somebody here says,
that was live streamed on YouTube. Okay, so it must
have been close. I was going to say, let's get
the audio, but I doubt they miked up the asteroid,
did they? And this from John who says sorry. Simon says,
I'm a courier driver and we're already delivering the artificial
(25:34):
Christmas trees to people and businesses. It is September fourteen to.
Speaker 3 (25:39):
Six International correspondence with Ends and Eye Insurance, Peace of
mind for New Zealand business.
Speaker 2 (25:46):
Big story today the US vigual Reserve going to lower
interest rates inside the next half hour. Benji Higher is
with US, our US correspondent, Benji what are they picking?
Speaker 10 (25:55):
Well, we don't know yet, but it's going to be
lower than what it was, which has been a a
very high level, the highest in decades, five points three percent.
It's been hovering around and it's going to drop. And
it's going to drop because the inflation numbers have improved
so drastically in the United States. Now this is a
crucial announcement both in the United States but also around
(26:18):
the world. We'll take the US. First, it is the
last time that America's Central Bank will be able to
make a change to the interest rate to burrowing costs
before November's election between Kamala Hawris and Donald Trump. And
this of course an indication that the economy from the
inflation front, which has been a big issue in this election,
(26:39):
is improving. That is a boost then for the vice president,
but of course still a few weeks to go to
find out what sort of impact it might have on growth,
which of course could play into the hands potentially of
former President Donald Trump. The reason this matter is beyond
these shores, even though of course it is Americans who
will be most affected by the Church change, that there
(27:00):
are central banks the world over that are tied to
the dollar, and so their economies will be impacted too.
And lower interest rates, which we think will be the
outcome when the decision is made very shortly, will also
affect how investors across the planet will invest in, you know,
for example stocks over savings accounts. So this is a
(27:23):
significant decision and we think it will be lowered by
probably quarter percent, maybe even a half a percent. And again,
as I said the last time, that that would happen
before Americans go to the polls.
Speaker 2 (27:34):
Yeah, we're going to check in with Mike Jones be
and Z chief economist, and just a second on what
that rate cut over in the States might mean for
us here. Very quickly though the White House, were they
aware of it's allegedly Israel behind the attack on his
the pages? Did the White House know in advance?
Speaker 10 (27:51):
They said not, And that even more remarkable given the
fact that one of the Biden administration's senior advisors has
been in the Middle East trying to sort of cease
fire for Gaza. That is an addition to the U
s Secretary of State Anthony Blincoln, who's in Egypt again
holding tours, none top talks, None of them were made aware.
There was a very brief phone call between Israel's defense
(28:14):
secretary and America's Defense Secretary, Lloyd Austin, literally minutes before
those pages started exploding, and in it Israel we're told
explain to the United States that they will be conducting
an operation in Lebanon soon, but no details were shared.
And of course, there had been developments in past hours
two where there had been even more explosions, this time
(28:34):
of walky talkies across the country, so clearly still not
the end of that.
Speaker 2 (28:39):
Story, absolutely, Binji, Thank you for that, Binji. Hire our
US correspondent just gone eleven minutes now, ten minutes away
from six and Bridge Rich quarter to two GDP numbers
out today they are looking backwards, how much did we
grow by as an economy or not. We're joined by
Mike Jones being Z in chief Economists. Good morning, Mike,
(29:00):
so am Z says back point one, ASB back point
three west Pac point four. What are you saying, Well, we.
Speaker 11 (29:08):
Don't think we're going to have for pretty reading. Our
pickers are point four percent contraction over the court. So yeah,
pretty grim reading. And if we're right on that, that
would be the fifth quarterly contraction out of the last seven.
So very much in keeping with this idea that we've
been in a role in recession for almost two years
now and.
Speaker 2 (29:28):
We're really feeling it. How important is the size of
this recession? You know, if if it's nearly a full percent,
I mean obviously the Reserve Bank saying half a percent,
your same point four. If it was one percent, would
we see the Reserve Bank cutting rates? You know, bigger sooner.
Speaker 11 (29:48):
It's possible. Look as you said, the Reserve Bank has
braced for a pretty nasty numb're already they've got a
point five percent decline baked into their numbers. That's a
bit weekend than what we've got and probably the consensus
is well. So it would take a real clanger, I think,
to throw the Reserve Bank off its stride. And there's
a matter of volatile so we'll just have to see
what we get. Probably today that the bigger piece of
(30:11):
news for interest rates in New Zealand and the Reserve
Bank may well be what the US Fed A Reserve
does with interest rates in just a few moments totally.
Speaker 2 (30:20):
We're all standing by for that. Mike Hoskins Show will
have coverage of that after six o'clock obviously once the
decisions out. But how might that affect us, Well.
Speaker 11 (30:31):
We've obviously started the process of off cutting rates already.
The Reserve Bank has lower rates in August. This will
be the first cut from the US so we ultimately
go our own way on instrates. The Reserve Bank would
be very would be the first to say that, but
feder reserves still very influential for interest rates. Interest rates
(30:51):
in New Zealand have been falling wholesale rates over the
past couple of weeks. As we sort of look ahead
and baking in what's going on in the US, look
Bed decides to get aggressive and cut take fifty points. Well,
that may just put a bit more pressure on in
districts in this part of the world, and may just
embolden that the reserve back here and is Zealand to
(31:13):
do the same.
Speaker 2 (31:15):
Interesting, Mike, thank you for that, Mike Jones, Benz Chief Economists.
That sped decision out now in about eight minutes and
the GDP data out later this morning.
Speaker 3 (31:23):
Ryan Bridge, I want to be a billionaire, so freaking back.
Speaker 2 (31:28):
So you're no care starmer, sir care starmer, a British
prime minister, savior of the masses from the evil clutches
of Tories, you know, banishing the privileged and taking the
working class issues up first. Well, two months in he's
declared his gifts and his freebies. He's been getting from donors,
including Walid Ali, more than what we told you about yesterday,
(31:52):
more gifts to support his lavish lifestyle than any other
leader in recent history from either party. Football match four
thousand pounds at the Taylor Swift including hospitality nine hundred
pounds for Coldplay tickets, clothing twelve thousand pounds, accommodation worth
twenty thousand pounds and glasses. You know how where's glasses? Guests?
(32:14):
How much they cost? Five thousand New Zealand dollars? Are
they made of gold? Thank you Lord Ali? Goodness me?
And what does he get in return? He gets a
free pass to number ten Downing Street. Seven to six.
Speaker 10 (32:31):
A different.
Speaker 3 (32:39):
On your radio and online on iHeartRadio Early edition with
Ryan Bridge and Smith City, New Zealand's furniture beds and
a playing store on news Talk z.
Speaker 2 (32:49):
BE five to six. Lots of people say, actually, leave
Lester Levy alone. He is doing the job of Commissioner
of Health New Zealand but also doing a couple of
days a week lecturing at university and says, I have
done that before. He's doing seventy hours a week in
his house role. What more can you ask of him?
Mike Costkin is in the studio, He's with you next night.
I tend to agree, I've done the numbers.
Speaker 12 (33:11):
So if you say he said ten to twelve hours
a day, so let's give him ten and you do
that for a seventy hour week.
Speaker 6 (33:18):
You do.
Speaker 12 (33:18):
I can't remember. It was three thousand, three hundred and
something hours in the year that rolls out at ninety
five for three hundred and twenty thousand dollars that rolls
out at ninety five dollars now.
Speaker 2 (33:27):
Also, he's not running Health New Zealand's arper's job. He's
just basically a direction.
Speaker 12 (33:33):
He's a consultant who's looking at what's going on how
to fix it. So if you're putting in that many
hours for that amount of money at ninety five dollars
now because the media always get angsty about that stuff.
Three you know, I mean ninety five dollars now, my
headdress of charges more than that. So and this is
guy running the whole publicize. Also, he's on three training,
but Tory's on one hundred and ninety.
Speaker 2 (33:52):
But you can't make ends me. You've got to sell
a car to board thing. See tomorrow, It's beautiful.
Speaker 3 (34:01):
For more from News Talk st B, listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio.
The issues, the interviews and the inside Ryan Bridge you
for twenty twenty four on the early edition with Smith City,
New Zealand's furniture beds and the play at stores US talks.
Speaker 2 (00:15):
It'd be good morning, great to have your company just
gone six after five on your Thursday morning, before six
o'clock this morning. How big was that recession in the
last quarter. We'll find out today. What does it mean
for your mortgage and why a fraction of a percent
could count July Sorry, the jury rather is out in
the Pokinghorn trial. What do they need to know in
(00:37):
order to convict him? We'll ask our court reporter, our
US correspondent looks at the White House, having no idea
about his spiller, the attack on his buller and the
pages yesterday. It's all ahead.
Speaker 3 (00:52):
The agenda.
Speaker 2 (00:54):
It is Thursday, the nineteenth of August. First pages. Now
walky talkie is being used by Hezbela have exploded, killing
three people and injuring at least one hundred. This is
deepening the sense of insecurity that was very palpable in
the aftermath of yesterday's A pager of bombings. Ukraine has
(01:16):
conducted a drone attack against a Russian missile facility, causing
a huge explosion in that facility three hundred and seventy
kilometers from the capital Moscow. The explosion was picked up
by a Norwegian earthquake monitoring agency, registering as a magnitude
(01:37):
three point two. Google is celebrating this morning. Google has
won an appeal against its two point six billion dollar
fine for blocking rivals from displaying search ads. Remember this
was going on in Europe. The European Commission, a court
in Europe, said they imposed the fine. They said they
committed errors in their assessment. The Commission says it's exploring
(01:58):
its next steps back home. Winston Peters had a bit
of a winge, a bit of a lash out in
Parliament yesterday, saying standards are dropping, taking aim at Tapati Maldi,
MP Takutai Ferris who read a speech off a laptop
in the space of just three years.
Speaker 4 (02:13):
The standards of this house of massive you decayed.
Speaker 3 (02:16):
The Murray Party in Green's Don't Know Stanning orders News
and Views you trust to start your day. It's early
edition with Ryan Bridge and Smith City, New Zealand's furniture
beds and a flying store.
Speaker 2 (02:27):
News talk said be people are coming in here with
hats on and bare feet and all sorts of things.
It doesn't really bother me what people wear. I suppose it.
It is nice to see people looking tidy in Parliament,
but I don't necessarily think everybody needs to be suit
and tie. Nine two nine two is the number to text.
He does have a point on the standards more generally,
especially when it comes to question time. Oh my goodness, Hey,
(02:51):
two big things happening today. One is the Federal Reserve
in the United States. In fact, this is going to
happen in the next hour. I think in exactly an
hour from now, we will hear what their decision is
on a rate cut there. It's been four long years
since they last cut rates. And will it be a
quarter of a percent? Will it be half a percent?
And what will that mean? Could that drive up demand
(03:12):
for the New Zealand dollar. Could we see a bit
of a rally on the kiwi and the Australian dollar
this morning? We'll have to stay tuned and watch that one. Interestingly,
I was reading this morning The Wall Street Journal has
a piece retail assets in money market funds totaled two
point six trillion dollars last week. That was up from
one point five trillion in September of twenty twenty two.
(03:32):
So when the rates go up, that's where people put
their money, and there's going to be a lot of
that money floating around looking for a home once rates
start coming down. We've also got our GDP, but we'll
talk about that before four six. Lester Levy is a
part time commissioner. He is a part timer. Do we care?
(03:53):
Nine two ninety two the number to text at first?
Listen to Chippy. He's obviously upset.
Speaker 5 (03:57):
I don't think it's a part time role. I mean
he is now responsible for running the entire hospital system
across the country.
Speaker 2 (04:04):
That is a full time job. I thought, Yeah, you've
got a point. Actually you should if this is your
big job. They've sacked the whole board. But he's not
running the Chibby says he's running the health system. He's not.
That's Margie upper He Lester Levy is a sit in
for the board who they've basically sacked because they were
all or they left because they didn't like what they
(04:24):
were doing, or they were useless, or a combination of both.
So if the chair of the board of Fonterra had
another job. Would you be surprised? No, because when you're
on boards, you have multiple directorships and you know you
do it. But if you're running the places the CEO,
if the CEO of Fonterra was part time at Packinsafe,
(04:47):
you'd be asking questions. So I'm split on this one.
I'm split. He has been paid three hundred and twenty
one thousand dollars a year and he's doing two days
a week at universities teaching students about it or something.
Nine two nine two. Would love your views on that.
This morning is just gone eleven minutes after five.
Speaker 3 (05:05):
Bryan Bridge.
Speaker 2 (05:10):
And some good news as we go to the break.
We are feeling more optimistic as we look ahead to
the GDP data out today. We are feeling good. According
to the latest west Pac Mcdermocmiller Consumer Confidence Index, it
was up nine points to ninety point eight in the
September quarter. It's still low but slightly up, so we'll
take that win. Yeah. A net fourteen percent of respondents
(05:35):
say they expect to be worse off financially in the
next year, but that is down from a net thirty
percent who felt that way in the June quarter. So
that's good news. What we want today actually is a
bad GDP number between you and me. We want a
bad GDP number because then Adrian All will have to
cut the rates sooner and then Tory Farno can buy
(05:58):
her carback.
Speaker 3 (06:05):
The news you need this morning and the in depth
analysis early edition with Ryan Bridge and swith City, New
Zealand's furniture Beds and a playing store.
Speaker 2 (06:14):
News Talks'd be fourteen after five on News Talks B
and Z and their view on what will happen with
GDP today coming your way just before six o'clock. Also,
there is an asteroid. I feel like we've done a
lot of space news lately, a lot. There is an
asteroid the size of a stadium and another one the
size of a skyscraper currently hurtling towards us, So stand
(06:35):
by for that fourteen after five. Retail crime up eighty
six percent in the last five years. There are members
of the Ministerial Advisory Group aiming to fix that that
have been named reps from Retailing, Zed Food Staff's Michael Hill.
They're all involved. Ash Palmer, who was an AT Party candidate,
and Sunny Kaschell's obviously in their two Carolyn Young is
(06:56):
on there on the Advisory Group Retailians Chief Zive and
she joins me this morning. Carolyn, good morning, whatever, Ryan,
thank you for being with me. Are you worried this
will be just another working group that gets nothing done?
Speaker 6 (07:11):
Absolutely not. No, We're really determined to make a difference
and we're all actively involved in retail so understand the
impacts that retail crime has been having on businesses and
their staff and wanting to make sure that we can
provide a safe environment for staff to go to work
and for customers to enjoy being able to come into
the stores.
Speaker 2 (07:31):
One of the issues you're going to look at is
the security guards. Are you going to tackle this issue? Literally?
Do you think we should empower security guards to actually
go after shoplifters and get them on the ground until
the cops come.
Speaker 6 (07:46):
Look, there's a wide variety of issues that will be canvassing,
and people's got very different views because businesses use security
guards in different ways, and so we need to actually understand.
Speaker 2 (07:57):
What's you Caaren viewing on that well.
Speaker 6 (08:01):
Retail in New Zealander. We've got a working group that
we're working on and we'll be consulting back into the
Ministry Advisory Group. There's a balance around what you can
do because when you think about, you know, your word
through tackling estenders. I mean, that's a really difficult thing
to do, and you have to be highly trained to
be able to do that. If you're going to hold
(08:23):
on to somebody, you need somewhere to be safe to
be able to do that. So there's a lot of
things to take into account. We need to ensure that
security guards are better trained and have greater resources, that
they can have skills that they.
Speaker 2 (08:37):
Can sounds to me like that we won't be tackling shoplifters.
Speaker 6 (08:43):
Yeah, I don't think we'll be tackling shoplifters.
Speaker 2 (08:45):
That's all right. Hey, what about I'm interested in the
facial tech recognition technology. If I steal something, you know,
my face? What happens if I try and enter the
store again? You know, because obviously you're not going to
tackle me. So and I'm trying to get an do
the doors close automatically? How does that work?
Speaker 4 (09:04):
So?
Speaker 6 (09:04):
How it works as facial recognition is loads up people that,
as you say, have offended in the store, and the
stores have got a photo of that person who's offended
or been trespassed from the store. There's only a couple
of cameras at the entry of the store, they capture
image of somebody that's against that photo. Then the assessment
(09:29):
is done to ensure is that the same person, because
obviously people look differently on different days, And then the
store can determine a range of ways in which they
can intervene or not. So they might actively intervene. They
might go and talk to the person and say, hey,
Carolyn Young, you know you're not meant to be in
the store. You've been trespassed in. The store would really
(09:50):
ask you kindly to leave. And the police will tell
you eight percent of the time when you actually go
and approach an offender and someone that's not meant to
be there, they will turn around and walk out. There'll
be no further interaction.
Speaker 2 (10:03):
And the rest of the rest you've got to tackle.
Speaker 6 (10:09):
You might also just decide to monitor that person in
the store, so you might just observe what they're doing,
and knowing who's in the store and the types of
offenses that have done before actually gives the staff and
the store more confidence that they can manage that potential
interaction that's going to happen. So you've caught one steper
here because you've you know that you've had an alert
(10:29):
that's identified you of a person that's in the store
that has either been violent or sole and stuff.
Speaker 2 (10:35):
And I guess that then all the staff will know
that as well, right, Carolyn, thank you very much for
joining us this morning. Carolyn Young Retailing is the chief
executive on this group, which she says is not just
another working group. It will get something done. We will
follow up on progress from that particular group, that advisory
group to the minister. It is nineteen minutes after five.
Coming up next the Polkinghorn trial. The jury is out.
(10:59):
What do they need to see today for a potential
verdict potential conviction of Philip Polkinghorn by the end of
the day.
Speaker 3 (11:09):
The first word on the News of the Day early
edition with Ryan Bridge and Smith City, New Zealand's furniture
beds and a play at store News Talk SIVV.
Speaker 2 (11:18):
Twenty one minutes after five, News Talk said, b we
are going to the United States. Our US correspondent will
be with us after the news At five point thirty,
What did the White House know about the Hisbilla Page's
attack that was imminent. What did Israel tell them about that?
We'll look at that shortly. Right now though here in
New Zealand, the fate of Philip Polkinghorn now lies in
(11:40):
a jury of eight women and three men. We could
have a verdict by today or in the next couple
of days. And the murder trial over the death of
his wife, Pauline Hannah in twenty twenty one, seven weeks
eighty witnesses. The jury is out for deliberation and Craig
Capitana is with us. He's the New Zealand Herald Court reporter.
Craig Good morning morning, Ryan, how are you very well?
(12:01):
Thanks for being with me. What is this jury deciding on? Basically?
Is it essentially was this murder or was this suicide?
Speaker 6 (12:12):
Yeah?
Speaker 4 (12:12):
The Crown says this is a very binary decision. The facts,
the way the house was found, they really only have
two decisions. Is a murder or suicide.
Speaker 2 (12:23):
Is and if there's a chance that this was suicide.
Are they not able to find Philip Pulkinghorn guilty of murder?
Speaker 4 (12:34):
Well, they do have a lesser charge then they can
vote on, which is manslaughter, But that hasn't really been
discussed by the crown or the defense and closing arguments,
So that's more of a technicality. Really, I would imagine
they will definitely be coming back with a guilty or
(12:54):
not guilty to murder it it appears, and if it's
not guilty, there's a very good chance he'll be walking
out of the court.
Speaker 2 (13:00):
Right and that could be happening as early today. I mean,
it's a stupid question to ask, how long do you
deliberate for? How long is a pace of straight.
Speaker 4 (13:08):
Yeah, it's anybody's guess. But if I had, if I
had to guess, i'd say it's not going to be quick.
But that comes with the caveat that I'm almost one
hundred percent wrong on these guesses, so who knows.
Speaker 2 (13:23):
I appreciate honesty.
Speaker 4 (13:25):
Yeah, if they do go past today, court won't be
sitting tomorrow, so we'll stretch into week nine. If if
it takes more than a day.
Speaker 2 (13:34):
Took us through the unanimous versus majority verdict, what what
you need to get and how that operates.
Speaker 4 (13:42):
Well, Uh, they're gonna have to sit and work towards
an unanimous for for quite a while. That's I think
the minimum is four hours, but usually it's much longer.
If they can't make a decision by then, the judge
will give them a direction that they can. At some
(14:04):
point they can have a unanimous for adicting Stead, which
only allows one person to dissent. So sorry, that was
twelve jurors, but one juror was dismissed a couple weeks
ago because this trial has run so long, So we
have eleven jurors. Now, technically we could have a ten
to one vote for guilty or not guilty and with
(14:26):
the good gil, but that's going to be a little
bit down the track.
Speaker 2 (14:29):
Yeah, And if that's not possible, then we get to
a hung jury, and then we get to a potential retrial,
don't we. We're in that territory.
Speaker 4 (14:36):
Yeah, still remind me of that.
Speaker 2 (14:39):
Craig, thank you very much for that. Great to understand
and talk through exactly what people can expect from this decision,
which we, as you say, may get today, may get
next week. Craig Capitan with US New Zealand Herald Court
reporter covering the Polkinghorn trial. It is twenty five minutes
after five loads of your feedback coming in on Lester
Levy will get to that shortly.
Speaker 3 (14:58):
The early edition show podcast on iHeartRadio powered by News
Talks AV.
Speaker 2 (15:04):
People are talking about Tory Farno one hundred and ninety
thousand dollars a year, having to sell a car just
to get by, and I don't want to talk about
her and her personal finances. Frankly, this is about us.
This is about us, the voters, the taxpayers, the ratepayers.
We're all forced on this ship being sailed by captains
that half of us didn't vote for, and what can
(15:25):
sometimes feel a little bit like the Titanic. And we
can all work more to get more. This is salary
and wages, wealth. We can all work more to get more.
We can work smarter, we can invest more, we can
grow our eggs a little bit more, and many of
us do. The media net worth of a Kiwi household
in twenty twenty one was around four hundred thousand dollars.
And some people take great risks to grow theirs and
(15:48):
they deserve the rewards of that. Many of us fail
in business, and we don't talk about that much. Many
have mortgage their family homes and you'll find them inside
there at nighttime, light on in the bedroom, not sleeping
with the stress of how they're going to make it work,
how they're going to keep the lights on, how they're
going to innovate, keep staff on, hire more staff, etc.
(16:08):
Others with one, two, three jobs to improve their lot.
And most people aspire to create more wealth, not out
of sheer selfishness. Well some do, sure, but for most
of us it's about providing for their families, leaving something
behind for their kids, and being set up so that
their husband or wife is taken care of if they
are to die early. And for most of us, wealth
(16:30):
is not evil. It's actually an act of loving those
people around you, those people you care about, which is
why when politicians come knocking at the door demanding a
so called wealth tax, or that the wealthy pay more,
not just income tax, but those imaginary wealth taxes too,
we get so touchy about it, don't we. We're like
(16:52):
when my dog's eating dinner and I try and approach it.
That's how we feel. As a collective get away, it's mine,
hands off. The irony in this is that Tory Farner
is part of the Greens who advocate for exactly this
type of approach. They say tax is love, not wealth
is love, and sure, when money is well spent and
(17:13):
services delivered. Maybe tax is love, but cycle bridges to
know where half million dollar bike racks, contractor and consultant
money scrambles. They don't feel like love to me. They
feel more like abuse. Bryan Bridge, twenty nine minutes after
five nineteen ninety two is the number for your feedback
this morning? Is there anything wrong with wealth? Is there
(17:36):
anything wrong with Tory Farner winning one hundred?
Speaker 3 (17:40):
Get ahead of the headlines, Ryan Bridge, You for twenty
twenty four on early edition with Smith City, New Zealand's
furniture beds and a play at store News Talk.
Speaker 2 (17:49):
Sid be Good Morning, New Zealand. Twenty four minutes away
from six two big story coming your way today. One
is the Federal Reserve in the United States is tipped
to in the next half hour cut interest rates for
the first time in four years in the world's largest economy.
(18:10):
What doll it mean for us? What doll it mean
for our dollar? We've got a US correspondent on the
line in a few moments time. Also here in New Zealand,
Quarter two GDP out today we're looking back. How much
did we grow by? And does a fraction of a
percent difference mean we might get more rate cuts, more
mortgage relief from Adrian or here we'll tell you with
(18:31):
the bnzchief economist Mike Jones before Sex. Right now, though,
can you just breathe a sigh of relief because we
narrowly escaped death last night while everyone was sleeping. This
is a stadium sized asteroid. This is a report from
the BBC, A stadium sized asteroid and another the size
of a skyscraper, big enough to destroy an entire city. Well,
(18:54):
they just cruised on by Earth didn't hit us, which
is good to know. I'm just wondering is it worth
reporting this. I mean, obviously, now that we're safe, I'm
telling you you know that was a stressful sleep. But
if we can't actually do anything about it, do you
want to be told you know? Or would you rather
(19:16):
it just comes down, bang, it's all over and you
were none the wiser. Personally, I prefer the latter. NASA
says we would need many years of warning to divert
a catastrophic asteroid strike, So I say, NASA, next time
you see one, just keep it to yourselves. Twenty two
away from Sex, Bryan Bridge going to our reporters around
(19:36):
the country, Calm proctors and toned in first. Colum high
water levels causing concern at a lagoon in Southland. Yeah,
this is why Tuna Lagoon.
Speaker 1 (19:45):
Ryan.
Speaker 5 (19:46):
It's currently around two and a half meters above its
regular height and so it's having an impact on surrounding roads,
paddocks and farming activities in the area.
Speaker 2 (19:57):
This is just south of Vicargo. The lagoon.
Speaker 5 (19:59):
Environment South Than says it's actively monitoring the levels and
assessing the options to open it up through to the sea.
Any opening needs to be through emergency powers under the
Resource Management Act, which is held by Environments South and
there's also an ongoing consent process here for the longer
term approach to y Turner Lagoon.
Speaker 2 (20:19):
All right, how's your weather today, Colum.
Speaker 5 (20:21):
Afternoon shower, some possibly heavy westerlies and seventeen today.
Speaker 2 (20:25):
Have a great day, Claire sherwoods and Christs this morning, Claire.
Relief over that Sinlane deal.
Speaker 7 (20:31):
Yeah, this was a big story for us yesterday. Ryan shareholders,
of course, voted to approve a two hundred and eighteen
million dollar capital injection for Sinlay that comes from its
two largest shareholders, A two Milk and Bright Dairy. The
company's farmer supplier base had handed in cessation notices. They
were ultimately saying it was affecting milk supply from twenty
(20:51):
twenty six if not withdrawn. Former Federated Farmer's Chair Dairy
Chair and one of Senley's biggest suppliers, Willie Levering says
this is great news for the wider Canterbury region. He
says it's a big employer in Canterbury. In fact, I
think they have fourteen hundred staff. So it's really good
to see this light at the end of this tunnel.
Speaker 2 (21:10):
Totally weather today clear.
Speaker 7 (21:12):
Mainly fine with high cloud. Could be a shower or
two a bit later. Northeasterly is turning northwest from around
to midday. A warm one though, eighteen degrees brilliant.
Speaker 2 (21:21):
Thank you Max Tols and Wellington Max. The woman who
attacked and enzid meat report has being jailed.
Speaker 6 (21:27):
Yeah.
Speaker 8 (21:27):
This is Rosie Modonga, who is also a person of
interest in the baby rou A death a case. She's
admitted eighteen other charges including assault, theft, wilful damage shoplifting
in the hut Valley District Court. She also late last
year after a court appearance, assaulted a reporter from our
newsroom as she left court. She spat on her, yanked
(21:49):
her hair, punched her several times. Our reporter dropped her bag.
During the assault, her phones, bank cards spilled out. They
were stolen used to buy spirits and artie des at
a nearby liquor store. In mentioning that assault, the judge
said the reporting of court events is vital for democracy.
In terms of the baby root case, no outcome in
(22:11):
that yet after some time. Modunger, of course, living in
the same house in Tita with Ru's mother.
Speaker 2 (22:17):
Storm goodness may house your weather today max.
Speaker 8 (22:21):
Cloudy period's the odd shower this afternoon, stronger northerlyast fourteen
the high central.
Speaker 2 (22:26):
Thank you very much. Neva is in Auckland this morning.
Good morning, Neva.
Speaker 9 (22:30):
Morning.
Speaker 2 (22:30):
So what's going on with the blanket speed increases?
Speaker 9 (22:34):
Yeah, now look this is interesting, A planning expert says.
The government's blanket speed increases now they're being opposed by Auckland.
So a report, this is from Auckland Transport and it
shows forty six percent and this is the five hundred
residents it was surveyed, are in favor of speed reductions.
And this is versus thirty eight percent against three quarters
(22:55):
would accept some increase in travel time on a twenty
minute trip, if it helped me travels safer.
Speaker 2 (23:01):
I don't believe any of this.
Speaker 9 (23:02):
Neither you would say that you're thinking five hundred people survey,
does that all.
Speaker 2 (23:08):
That's statistically relevant? I don't know. I don't know. I
don't know, because it depends on the question.
Speaker 9 (23:14):
They ask, well, yes, well there you go. And so
Tim Welch, he's the Auckland University senior planning lecturer. He's saying,
look the story that Simmy and Brown's been saying, people
overwhelmingly want to see faster roads, but the data just
doesn't show that. That's what he's saying. You know why,
I'll say something else. I went to the supermarket yesterday and.
Speaker 2 (23:35):
Am not saying to you.
Speaker 9 (23:37):
When I went in there, I thought, yeah, I couldn't
believe it. But they were having they were selling center chocolate,
marshmallow Center Christmas. You know, chocolate's already September. I couldn't
believe that.
Speaker 2 (23:48):
That is early. That is early.
Speaker 9 (23:49):
And someone in the news room was saying, Camar selling
Christmas pajamas already, that's too early September.
Speaker 2 (23:57):
Come on, I think it's pajamas are and I've never
worn pajamas personally.
Speaker 10 (24:02):
Shut up.
Speaker 2 (24:03):
Do you wear pajamas around the house?
Speaker 9 (24:05):
Don't you wear around the house? I mean sometimes in winter.
I was staying pajamas for like days, days, and I
was thinking, one seed, what do you not? You know?
Speaker 4 (24:14):
Do you not have.
Speaker 2 (24:16):
Birthday? I must pray your one November November. I look
forward tom here.
Speaker 10 (24:22):
That's why we get on with school.
Speaker 2 (24:23):
What date?
Speaker 3 (24:24):
No?
Speaker 8 (24:24):
What dates?
Speaker 2 (24:25):
You wait? Do you say nine sixteen?
Speaker 4 (24:29):
Oh?
Speaker 9 (24:29):
Really?
Speaker 2 (24:30):
Anyway we go, we're getting carried away. Yes, how's the
weather today?
Speaker 9 (24:34):
I was gonna say strong, wisterly, strong wisterlies. We're talking
in this morning, and I have to say we've got showers.
But nz TA sees that from three pm and seven
pm this afternoon, watch out for those winds and lanes
and speeds. Guess where Harbor Bridge Bridge may be impacted.
Speaker 2 (24:51):
Eighteen high scorpios. Nice, nice people, cross us. There's a
sting in that table that's right fourteen away from six.
We're getting to our US correspondent in just a second
for some of your texts this morning. Interesting, we avoided
an asteroid, by the way, narrowly avoided an asteroid on
Earth overnight. The size of a football stadium could have
(25:12):
wiped out an entire city apparently, as somebody here says,
that was live streamed on YouTube. Okay, so it must
have been close. I was going to say, let's get
the audio, but I doubt they miked up the asteroid,
did they? And this from John who says sorry. Simon says,
I'm a courier driver and we're already delivering the artificial
(25:34):
Christmas trees to people and businesses. It is September fourteen to.
Speaker 3 (25:39):
Six International correspondence with Ends and Eye Insurance, Peace of
mind for New Zealand business.
Speaker 2 (25:46):
Big story today the US vigual Reserve going to lower
interest rates inside the next half hour. Benji Higher is
with US, our US correspondent, Benji what are they picking?
Speaker 10 (25:55):
Well, we don't know yet, but it's going to be
lower than what it was, which has been a a
very high level, the highest in decades, five points three percent.
It's been hovering around and it's going to drop. And
it's going to drop because the inflation numbers have improved
so drastically in the United States. Now this is a
crucial announcement both in the United States but also around
(26:18):
the world. We'll take the US. First, it is the
last time that America's Central Bank will be able to
make a change to the interest rate to burrowing costs
before November's election between Kamala Hawris and Donald Trump. And
this of course an indication that the economy from the
inflation front, which has been a big issue in this election,
(26:39):
is improving. That is a boost then for the vice president,
but of course still a few weeks to go to
find out what sort of impact it might have on growth,
which of course could play into the hands potentially of
former President Donald Trump. The reason this matter is beyond
these shores, even though of course it is Americans who
will be most affected by the Church change, that there
(27:00):
are central banks the world over that are tied to
the dollar, and so their economies will be impacted too.
And lower interest rates, which we think will be the
outcome when the decision is made very shortly, will also
affect how investors across the planet will invest in, you know,
for example stocks over savings accounts. So this is a
(27:23):
significant decision and we think it will be lowered by
probably quarter percent, maybe even a half a percent. And again,
as I said the last time, that that would happen
before Americans go to the polls.
Speaker 2 (27:34):
Yeah, we're going to check in with Mike Jones be
and Z chief economist, and just a second on what
that rate cut over in the States might mean for
us here. Very quickly though the White House, were they
aware of it's allegedly Israel behind the attack on his
the pages? Did the White House know in advance?
Speaker 10 (27:51):
They said not, And that even more remarkable given the
fact that one of the Biden administration's senior advisors has
been in the Middle East trying to sort of cease
fire for Gaza. That is an addition to the U
s Secretary of State Anthony Blincoln, who's in Egypt again
holding tours, none top talks, None of them were made aware.
There was a very brief phone call between Israel's defense
(28:14):
secretary and America's Defense Secretary, Lloyd Austin, literally minutes before
those pages started exploding, and in it Israel we're told
explain to the United States that they will be conducting
an operation in Lebanon soon, but no details were shared.
And of course, there had been developments in past hours
two where there had been even more explosions, this time
(28:34):
of walky talkies across the country, so clearly still not
the end of that.
Speaker 2 (28:39):
Story, absolutely, Binji, Thank you for that, Binji. Hire our
US correspondent just gone eleven minutes now, ten minutes away
from six and Bridge Rich quarter to two GDP numbers
out today they are looking backwards, how much did we
grow by as an economy or not. We're joined by
Mike Jones being Z in chief Economists. Good morning, Mike,
(29:00):
so am Z says back point one, ASB back point
three west Pac point four. What are you saying, Well, we.
Speaker 11 (29:08):
Don't think we're going to have for pretty reading. Our
pickers are point four percent contraction over the court. So yeah,
pretty grim reading. And if we're right on that, that
would be the fifth quarterly contraction out of the last seven.
So very much in keeping with this idea that we've
been in a role in recession for almost two years
now and.
Speaker 2 (29:28):
We're really feeling it. How important is the size of
this recession? You know, if if it's nearly a full percent,
I mean obviously the Reserve Bank saying half a percent,
your same point four. If it was one percent, would
we see the Reserve Bank cutting rates? You know, bigger sooner.
Speaker 11 (29:48):
It's possible. Look as you said, the Reserve Bank has
braced for a pretty nasty numb're already they've got a
point five percent decline baked into their numbers. That's a
bit weekend than what we've got and probably the consensus
is well. So it would take a real clanger, I think,
to throw the Reserve Bank off its stride. And there's
a matter of volatile so we'll just have to see
what we get. Probably today that the bigger piece of
(30:11):
news for interest rates in New Zealand and the Reserve
Bank may well be what the US Fed A Reserve
does with interest rates in just a few moments totally.
Speaker 2 (30:20):
We're all standing by for that. Mike Hoskins Show will
have coverage of that after six o'clock obviously once the
decisions out. But how might that affect us, Well.
Speaker 11 (30:31):
We've obviously started the process of off cutting rates already.
The Reserve Bank has lower rates in August. This will
be the first cut from the US so we ultimately
go our own way on instrates. The Reserve Bank would
be very would be the first to say that, but
feder reserves still very influential for interest rates. Interest rates
(30:51):
in New Zealand have been falling wholesale rates over the
past couple of weeks. As we sort of look ahead
and baking in what's going on in the US, look
Bed decides to get aggressive and cut take fifty points. Well,
that may just put a bit more pressure on in
districts in this part of the world, and may just
embolden that the reserve back here and is Zealand to
(31:13):
do the same.
Speaker 2 (31:15):
Interesting, Mike, thank you for that, Mike Jones, Benz Chief Economists.
That sped decision out now in about eight minutes and
the GDP data out later this morning.
Speaker 3 (31:23):
Ryan Bridge, I want to be a billionaire, so freaking back.
Speaker 2 (31:28):
So you're no care starmer, sir care starmer, a British
prime minister, savior of the masses from the evil clutches
of Tories, you know, banishing the privileged and taking the
working class issues up first. Well, two months in he's
declared his gifts and his freebies. He's been getting from donors,
including Walid Ali, more than what we told you about yesterday,
(31:52):
more gifts to support his lavish lifestyle than any other
leader in recent history from either party. Football match four
thousand pounds at the Taylor Swift including hospitality nine hundred
pounds for Coldplay tickets, clothing twelve thousand pounds, accommodation worth
twenty thousand pounds and glasses. You know how where's glasses? Guests?
(32:14):
How much they cost? Five thousand New Zealand dollars? Are
they made of gold? Thank you Lord Ali? Goodness me?
And what does he get in return? He gets a
free pass to number ten Downing Street. Seven to six.
Speaker 10 (32:31):
A different.
Speaker 3 (32:39):
On your radio and online on iHeartRadio Early edition with
Ryan Bridge and Smith City, New Zealand's furniture beds and
a playing store on news Talk z.
Speaker 2 (32:49):
BE five to six. Lots of people say, actually, leave
Lester Levy alone. He is doing the job of Commissioner
of Health New Zealand but also doing a couple of
days a week lecturing at university and says, I have
done that before. He's doing seventy hours a week in
his house role. What more can you ask of him?
Mike Costkin is in the studio, He's with you next night.
I tend to agree, I've done the numbers.
Speaker 12 (33:11):
So if you say he said ten to twelve hours
a day, so let's give him ten and you do
that for a seventy hour week.
Speaker 6 (33:18):
You do.
Speaker 12 (33:18):
I can't remember. It was three thousand, three hundred and
something hours in the year that rolls out at ninety
five for three hundred and twenty thousand dollars that rolls
out at ninety five dollars now.
Speaker 2 (33:27):
Also, he's not running Health New Zealand's arper's job. He's
just basically a direction.
Speaker 12 (33:33):
He's a consultant who's looking at what's going on how
to fix it. So if you're putting in that many
hours for that amount of money at ninety five dollars
now because the media always get angsty about that stuff.
Three you know, I mean ninety five dollars now, my
headdress of charges more than that. So and this is
guy running the whole publicize. Also, he's on three training,
but Tory's on one hundred and ninety.
Speaker 2 (33:52):
But you can't make ends me. You've got to sell
a car to board thing. See tomorrow, It's beautiful.
Speaker 3 (34:01):
For more from News Talk st B, listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio.
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