1 00:00:01,160 --> 00:00:05,320 Speaker 1: The issues, the interviews and the insight. Ryan Bridge on 2 00:00:05,440 --> 00:00:08,559 Speaker 1: an early edition with one roof love, where you live 3 00:00:09,039 --> 00:00:09,640 Speaker 1: news talks. 4 00:00:09,680 --> 00:00:12,080 Speaker 2: It'd be good morning, just gone six after five. We'll 5 00:00:12,080 --> 00:00:14,920 Speaker 2: speak to Sharon Zolna before six remains et on oil 6 00:00:15,320 --> 00:00:18,279 Speaker 2: rationing of petrol happening in Wa will live across the 7 00:00:18,320 --> 00:00:21,680 Speaker 2: Tasman Private hospitals could save the public system. New report 8 00:00:21,680 --> 00:00:23,239 Speaker 2: on that this morning, we'll bring it to you and 9 00:00:23,320 --> 00:00:25,960 Speaker 2: the Financial Time as Middle East editor on the new 10 00:00:26,040 --> 00:00:30,720 Speaker 2: leader of Iran. The agenda Tuesday, the tenth of March. 11 00:00:30,800 --> 00:00:34,040 Speaker 2: Great to have your company watching this G seven meeting closely? 12 00:00:34,120 --> 00:00:36,800 Speaker 2: Are they going to release some reserves of oil as 13 00:00:36,840 --> 00:00:37,920 Speaker 2: the price spikes. 14 00:00:38,080 --> 00:00:42,200 Speaker 3: The longer this goes on, the more likely the potential 15 00:00:42,280 --> 00:00:45,120 Speaker 3: for an impact on our economy and impact into the 16 00:00:45,240 --> 00:00:48,120 Speaker 3: lives and households of everybody and every business. 17 00:00:48,240 --> 00:00:52,080 Speaker 2: This Iranian women's football team. Trump wants Australia to give 18 00:00:52,080 --> 00:00:54,720 Speaker 2: them asylum. They refuse to sing the national anthem at 19 00:00:54,720 --> 00:00:56,560 Speaker 2: the Asia Cup on the GCAT. 20 00:00:56,760 --> 00:00:59,400 Speaker 4: He says they will most likely be killed. 21 00:01:00,040 --> 00:01:03,560 Speaker 5: Don't do it, mister Prime minister, give asylum. The US 22 00:01:03,640 --> 00:01:04,839 Speaker 5: will take them if you won't. 23 00:01:05,040 --> 00:01:08,040 Speaker 2: Everyone loves Rihanna except for the person who's been firing 24 00:01:08,080 --> 00:01:10,640 Speaker 2: at her house. This is in Beverly Hills. She was 25 00:01:10,680 --> 00:01:12,760 Speaker 2: at home at the time. Police say the suspect, a 26 00:01:12,800 --> 00:01:16,240 Speaker 2: woman in her thirties, stopped in a car outside her home, 27 00:01:16,400 --> 00:01:18,400 Speaker 2: fired seven shots and then drove away. 28 00:01:18,720 --> 00:01:20,959 Speaker 6: Well, I was just washing dishes in my house and 29 00:01:21,000 --> 00:01:23,920 Speaker 6: I heard shots. I was a little shocked. You know, 30 00:01:23,959 --> 00:01:25,920 Speaker 6: we don't hear that kind of thing in this neighborhood. 31 00:01:26,000 --> 00:01:26,880 Speaker 6: It's pretty quiet. 32 00:01:27,000 --> 00:01:30,400 Speaker 2: No, it's Beverly Hills. No one injured, thankfully. Our suspect 33 00:01:30,480 --> 00:01:31,640 Speaker 2: is in police custody. 34 00:01:33,040 --> 00:01:36,720 Speaker 1: Get ahead of the headlines on early edition with Ryan 35 00:01:36,800 --> 00:01:40,440 Speaker 1: Bridge and One roof Love where you Live News Talks. 36 00:01:40,440 --> 00:01:43,320 Speaker 2: I'd be seven after five nine nine two the number 37 00:01:43,400 --> 00:01:45,480 Speaker 2: to text. So the G seven, the big boys and 38 00:01:45,520 --> 00:01:48,080 Speaker 2: girls are having a meeting and they are deciding as 39 00:01:48,200 --> 00:01:50,040 Speaker 2: the price of oil had one hundred and twenty dollars 40 00:01:50,080 --> 00:01:53,480 Speaker 2: a barrel yesterday. It has come back by the way overnight. 41 00:01:53,520 --> 00:01:56,240 Speaker 2: It's looking Last time I checked at around ninety seven 42 00:01:56,280 --> 00:01:59,600 Speaker 2: dollars a barrel, but it was up twenty five percent yesterday. 43 00:02:00,200 --> 00:02:03,600 Speaker 2: They're looking at releasing some strategic reserves. You know, they're 44 00:02:03,600 --> 00:02:05,680 Speaker 2: going to whole bunch that when there's an emergency, when 45 00:02:05,680 --> 00:02:08,320 Speaker 2: something goes wrong, they can release it, flood the market 46 00:02:08,360 --> 00:02:11,360 Speaker 2: and then hopefully the price comes down. People chill out. 47 00:02:12,520 --> 00:02:15,480 Speaker 2: They did this in twenty twenty two when the war 48 00:02:15,520 --> 00:02:19,040 Speaker 2: in Ukraine broke out. Iran has been going harder on 49 00:02:19,080 --> 00:02:21,200 Speaker 2: the oil fields over the last few days. In fact, 50 00:02:21,360 --> 00:02:25,280 Speaker 2: last night the Saudi's intercepted two waves of drone attacks 51 00:02:25,320 --> 00:02:28,160 Speaker 2: heading for oil fields. So the Iranians are just they 52 00:02:28,200 --> 00:02:31,880 Speaker 2: obviously see the button and they're just pressing it repeatedly, now, 53 00:02:31,919 --> 00:02:35,200 Speaker 2: aren't they, Because they know what hurts the rest of 54 00:02:35,240 --> 00:02:37,280 Speaker 2: the world, and it is the price of oil. So 55 00:02:37,360 --> 00:02:40,639 Speaker 2: you've got this G seven meeting happening. And the reason 56 00:02:40,639 --> 00:02:44,000 Speaker 2: that the price of oil came down overnight is because 57 00:02:44,240 --> 00:02:47,000 Speaker 2: there was a report that came out from one of 58 00:02:47,040 --> 00:02:50,839 Speaker 2: the journalists. It said three hundred million barrels they could 59 00:02:50,919 --> 00:02:54,679 Speaker 2: release from the emergency stockpile. This is from the International 60 00:02:54,800 --> 00:02:58,720 Speaker 2: Energy Agency. Three hundred million barrels is a butt ton 61 00:02:58,760 --> 00:03:01,919 Speaker 2: of oil. It is a lot. To give you some context, 62 00:03:02,560 --> 00:03:05,520 Speaker 2: three hundred million barrels, it would be more than double 63 00:03:06,000 --> 00:03:09,920 Speaker 2: the previous record set, which was during Russia's invasion of 64 00:03:10,000 --> 00:03:12,600 Speaker 2: Ukraine in twenty twenty two, it would be a quarter 65 00:03:12,720 --> 00:03:16,160 Speaker 2: of their stockpile. This is the G seven, the International 66 00:03:16,360 --> 00:03:18,880 Speaker 2: Energy Agency, but the decision would be made by the 67 00:03:18,919 --> 00:03:24,000 Speaker 2: G seven finance ministers. It is effectively less though, than 68 00:03:24,120 --> 00:03:27,800 Speaker 2: three days of global oil consumption. We chew through it, 69 00:03:27,880 --> 00:03:31,520 Speaker 2: don't we. It's about a fortnight of normal Strait of 70 00:03:31,600 --> 00:03:35,680 Speaker 2: Hormuz traffic. A fortnight, so two weeks worth of traffic 71 00:03:35,720 --> 00:03:38,360 Speaker 2: through that strait, which just gives you an indication of 72 00:03:38,400 --> 00:03:41,200 Speaker 2: how important it is. Anyway, they may not all agree 73 00:03:41,240 --> 00:03:43,640 Speaker 2: on whether to do this or not. That amount also 74 00:03:43,920 --> 00:03:46,480 Speaker 2: is subject to change, but that's the reason you saw 75 00:03:46,520 --> 00:03:49,560 Speaker 2: the price come down a little bit off those massive 76 00:03:49,880 --> 00:03:53,240 Speaker 2: highs that it was heading yesterday. Crain Bridge, you're on 77 00:03:53,280 --> 00:03:55,920 Speaker 2: news Talks. Heb it's ten minutes after five. Next, the 78 00:03:56,280 --> 00:03:58,800 Speaker 2: Iranians have got a new leader. Does this mean the 79 00:03:58,840 --> 00:04:00,840 Speaker 2: war will come to Is he the they put in 80 00:04:01,440 --> 00:04:03,440 Speaker 2: to do a deal and get this thing over with 81 00:04:03,640 --> 00:04:05,440 Speaker 2: or is he the guy they put in to actually 82 00:04:05,440 --> 00:04:08,520 Speaker 2: go longer and harder. We'll speak to a Middle East 83 00:04:08,560 --> 00:04:11,040 Speaker 2: expert next on. 84 00:04:11,040 --> 00:04:15,120 Speaker 1: Your radio and online on Iheard Radio Early edition with 85 00:04:15,400 --> 00:04:19,559 Speaker 1: Ryan Bridge and one Root Love where you live News Talks. 86 00:04:19,600 --> 00:04:22,000 Speaker 2: I'd been twelve after five. You know in Auckland we've 87 00:04:22,000 --> 00:04:24,919 Speaker 2: had this problem. Be well, we all have the problem, 88 00:04:25,000 --> 00:04:27,080 Speaker 2: don't we need to use the bathroom, and then the 89 00:04:27,160 --> 00:04:30,840 Speaker 2: council or water Care more to the point, will pump sewage, 90 00:04:30,920 --> 00:04:35,000 Speaker 2: often more sewage into places where were growing muscles and 91 00:04:35,040 --> 00:04:37,760 Speaker 2: then we have to give compensation. Well, look at Canterbury. 92 00:04:37,800 --> 00:04:39,880 Speaker 2: It could be coming to a town near you because 93 00:04:40,000 --> 00:04:42,479 Speaker 2: last week film major and the mayor decided in a 94 00:04:42,520 --> 00:04:45,919 Speaker 2: bid to reduce the smell that's coming from Bromley. You know, 95 00:04:45,960 --> 00:04:48,000 Speaker 2: no one likes to wake up and have a whiff 96 00:04:48,040 --> 00:04:50,919 Speaker 2: of that. One of the things they can do is 97 00:04:51,200 --> 00:04:56,719 Speaker 2: release some of that sewage into the ocean. And now 98 00:04:56,760 --> 00:05:00,200 Speaker 2: we have muscle farmers, their Canterbury muscle farmers saying the 99 00:05:00,279 --> 00:05:04,400 Speaker 2: plan to discharge partially treated sewage into the ocean could 100 00:05:04,440 --> 00:05:08,040 Speaker 2: of course devastate the local aquaculture industry. Shane Jones is 101 00:05:08,080 --> 00:05:10,600 Speaker 2: up in arms, as you could imagine. What they want 102 00:05:10,640 --> 00:05:14,160 Speaker 2: to do is add a bit of chlorine before pumping 103 00:05:14,160 --> 00:05:16,360 Speaker 2: it in, so that'll make things okay. When it's thirteen 104 00:05:16,400 --> 00:05:17,160 Speaker 2: after five. 105 00:05:17,360 --> 00:05:19,200 Speaker 1: Bryan Bridge Irad. 106 00:05:18,800 --> 00:05:22,840 Speaker 2: Appointed much Tuba Harmony, the son of the late Supreme 107 00:05:22,920 --> 00:05:26,000 Speaker 2: leader who was killed in US Israeli strikes as the 108 00:05:26,040 --> 00:05:29,120 Speaker 2: new Supreme Leader, fifty six years old, kept a very 109 00:05:29,160 --> 00:05:32,640 Speaker 2: low profile, Andrew England, as the Financial Times Middle East 110 00:05:32,760 --> 00:05:36,240 Speaker 2: editor joins US Live this morning, Andrew, this doesn't sound 111 00:05:36,360 --> 00:05:40,599 Speaker 2: much like a big change or regime change. Is what's 112 00:05:40,720 --> 00:05:41,479 Speaker 2: this guy going to be? 113 00:05:41,560 --> 00:05:41,640 Speaker 6: Like? 114 00:05:41,720 --> 00:05:42,160 Speaker 2: Do we know? 115 00:05:43,960 --> 00:05:45,599 Speaker 7: No, I mean, we know very little about him. But 116 00:05:45,680 --> 00:05:47,600 Speaker 7: what we do know is he's probably going to be 117 00:05:47,640 --> 00:05:50,640 Speaker 7: a continuation of his father, who is in power in 118 00:05:50,720 --> 00:05:55,560 Speaker 7: nearly four decades. That means a hardline, hostile attitude towards 119 00:05:55,640 --> 00:06:00,680 Speaker 7: the US, towards Israel, towards the westmore generally. And let's 120 00:06:00,680 --> 00:06:04,640 Speaker 7: remember that, you know, last week the Americans and israelis 121 00:06:04,800 --> 00:06:09,479 Speaker 7: bomb Supreme Leader his father's compound killed mushta Bar's father, 122 00:06:09,720 --> 00:06:14,400 Speaker 7: his mother, his wife, his sister. So you know, he's 123 00:06:14,400 --> 00:06:17,160 Speaker 7: probably got a lot of hostility in him. So what 124 00:06:17,200 --> 00:06:20,520 Speaker 7: we've seen is one homony replaced another homony. Just this 125 00:06:20,560 --> 00:06:23,600 Speaker 7: is a younger version, potentially a more hawkish version. We 126 00:06:23,880 --> 00:06:26,120 Speaker 7: just don't know yet because we don't know enough about him. 127 00:06:26,240 --> 00:06:28,800 Speaker 7: Like you said, he's kind of kept a very low 128 00:06:28,839 --> 00:06:30,760 Speaker 7: profile over the years. 129 00:06:31,600 --> 00:06:33,919 Speaker 2: There's talk that people haven't even heard his voice. We 130 00:06:33,920 --> 00:06:36,920 Speaker 2: don't even know what he sounds like. He's that low profile. 131 00:06:38,080 --> 00:06:41,080 Speaker 7: Yeah, there's one recording of his voice, and they the 132 00:06:41,080 --> 00:06:43,919 Speaker 7: Iranian media has put out footage of him back in 133 00:06:43,960 --> 00:06:49,360 Speaker 7: the eighties during the Irana Rock War when he's with 134 00:06:49,440 --> 00:06:51,760 Speaker 7: what looks like members of the elite Revolutionary Guards and 135 00:06:51,760 --> 00:06:54,719 Speaker 7: he's close to revenution guards. But you know, he's had 136 00:06:54,760 --> 00:07:00,480 Speaker 7: no formal position. We know that he was close to 137 00:07:00,560 --> 00:07:03,760 Speaker 7: his father, the Supreme lead at Ali I had told 138 00:07:03,800 --> 00:07:09,600 Speaker 7: Ali Romeni and sort of worked in his office, but 139 00:07:09,680 --> 00:07:12,480 Speaker 7: he had no form position. He hasn't spoken, He hasn't 140 00:07:12,520 --> 00:07:14,960 Speaker 7: he hasn't given a statement. We haven't heard from him 141 00:07:15,000 --> 00:07:18,360 Speaker 7: since the war started. We don't know where he is 142 00:07:18,400 --> 00:07:20,000 Speaker 7: and we don't really know what the fate of it is. 143 00:07:20,040 --> 00:07:22,120 Speaker 7: We don't know if he was in that compound, you know, 144 00:07:22,120 --> 00:07:26,040 Speaker 7: if he's wounded, if he's fit and healthy. We just 145 00:07:26,040 --> 00:07:26,680 Speaker 7: really don't know. 146 00:07:27,360 --> 00:07:29,400 Speaker 2: He's obviously got a target on his back now, doesn't 147 00:07:29,400 --> 00:07:31,080 Speaker 2: thin Because these rallies as say they want to get 148 00:07:31,200 --> 00:07:35,960 Speaker 2: rid of them, and in the absolutely no, no. 149 00:07:36,080 --> 00:07:39,560 Speaker 7: I mean you know, possibly the Americans, I mean, Trump 150 00:07:39,680 --> 00:07:41,520 Speaker 7: was asked about watched the bar the other day and 151 00:07:41,560 --> 00:07:44,920 Speaker 7: he called him a lightweight. He said that he wants 152 00:07:44,960 --> 00:07:49,320 Speaker 7: to approve the appointment of a new leader. He's said 153 00:07:49,440 --> 00:07:51,160 Speaker 7: he's worn that, you know, a new leader without his 154 00:07:51,240 --> 00:07:55,000 Speaker 7: approval won't last long. These Raelis have suggested that they 155 00:07:55,080 --> 00:08:01,760 Speaker 7: would assassinate a new leader, and Trump's said the American 156 00:08:01,840 --> 00:08:06,720 Speaker 7: and Israeli strikes have killed forty nine leaders. So certainly, 157 00:08:06,760 --> 00:08:09,520 Speaker 7: given that he's, you know, an extension of his father, 158 00:08:09,680 --> 00:08:11,760 Speaker 7: an extension of the regime, and it's a sign that 159 00:08:11,760 --> 00:08:15,280 Speaker 7: the regime is doubling down. It's showing that it's defined. 160 00:08:15,360 --> 00:08:19,680 Speaker 7: It's kind of stuck its finger up to Trump and 161 00:08:19,840 --> 00:08:22,040 Speaker 7: showing that this, you know, everyone's reading this, this is 162 00:08:22,080 --> 00:08:25,280 Speaker 7: going to continue to resist and fight back in this 163 00:08:25,400 --> 00:08:27,600 Speaker 7: for then obviously he's going to be reassume that he's 164 00:08:27,600 --> 00:08:28,520 Speaker 7: going to be a prime target. 165 00:08:28,600 --> 00:08:30,800 Speaker 2: Yeah, they're also saying they can do six months of 166 00:08:30,840 --> 00:08:33,280 Speaker 2: this dance at this pace of bombing. Is that bluster 167 00:08:33,480 --> 00:08:35,440 Speaker 2: or are they serious? 168 00:08:35,480 --> 00:08:35,960 Speaker 7: Six months? 169 00:08:36,320 --> 00:08:41,240 Speaker 2: The Americans, all the the Iranians. Sorry, we don't know. 170 00:08:41,320 --> 00:08:44,240 Speaker 7: I mean, look, obviously they're taking an absolute pounding. That's 171 00:08:44,240 --> 00:08:49,160 Speaker 7: been intense bombing. They've got ballistic missiles which require missile launches, 172 00:08:49,200 --> 00:08:50,680 Speaker 7: and you can have as many missiles as you like, 173 00:08:50,720 --> 00:08:53,240 Speaker 7: but if you don't have the launches, then the missiles 174 00:08:53,240 --> 00:08:56,640 Speaker 7: are no good. And we can assume, and these ready 175 00:08:56,679 --> 00:08:58,920 Speaker 7: have been saying this that a lot of their launchers 176 00:08:58,960 --> 00:09:01,240 Speaker 7: have been hit. They also have drones which they're being 177 00:09:01,320 --> 00:09:04,200 Speaker 7: firing across the gulf, and this is what's pushed up 178 00:09:04,200 --> 00:09:07,040 Speaker 7: oil prices. They have a lot of drones. You don't 179 00:09:07,040 --> 00:09:09,839 Speaker 7: need launch to do those. So, you know, we don't 180 00:09:09,880 --> 00:09:11,600 Speaker 7: know how long they can stain it because we don't 181 00:09:11,640 --> 00:09:14,160 Speaker 7: know the full degree of their arsenals. We don't know 182 00:09:14,200 --> 00:09:16,720 Speaker 7: the full degree of damage. But you've got to remember, 183 00:09:16,760 --> 00:09:21,600 Speaker 7: from the Islamic Regien's perspective, endurance is a victory. Survival 184 00:09:21,640 --> 00:09:24,880 Speaker 7: is victory. And as long as they can continue firing 185 00:09:24,880 --> 00:09:29,640 Speaker 7: a missile here and a drone there and survive this 186 00:09:30,160 --> 00:09:32,720 Speaker 7: onslaught from you know, the world's most powerful army to them, 187 00:09:32,840 --> 00:09:35,600 Speaker 7: that will be victory. So in some ways it's kind 188 00:09:35,600 --> 00:09:36,840 Speaker 7: of a war of endurance. 189 00:09:37,800 --> 00:09:41,040 Speaker 2: Andrew, appreciate your analysis this morning, Andrew England, Financial Times 190 00:09:41,160 --> 00:09:44,600 Speaker 2: Middle East Editor. It is seventeen minutes after five, Bryan 191 00:09:44,720 --> 00:09:47,840 Speaker 2: Bridge to completely take you somewhere else. Jules has text 192 00:09:47,880 --> 00:09:50,600 Speaker 2: in the program Morning Jewels. She says good morning, Ryan, 193 00:09:50,720 --> 00:09:53,000 Speaker 2: up early for a Kappa sitting on our deck looking 194 00:09:53,080 --> 00:09:57,640 Speaker 2: out over Tasman Bay. It's quiet, serene, living way on 195 00:09:57,760 --> 00:09:59,960 Speaker 2: down at the bottom of the earth has its benefits. 196 00:10:00,040 --> 00:10:03,680 Speaker 2: Love your show, Jules, Love your text. Next, it's private 197 00:10:03,720 --> 00:10:06,400 Speaker 2: healthcare versus public or does it need to be. 198 00:10:08,040 --> 00:10:11,400 Speaker 1: News and views you trust to start your day? It's 199 00:10:11,480 --> 00:10:15,600 Speaker 1: early Ediship with Ryan Bridge and one roof love where 200 00:10:15,640 --> 00:10:16,800 Speaker 1: you live news talks. 201 00:10:16,840 --> 00:10:19,520 Speaker 2: I'd be five twenty. Leadership questions for the National Party 202 00:10:19,600 --> 00:10:22,439 Speaker 2: are no longer relevant or important given the price of oil, 203 00:10:22,559 --> 00:10:25,040 Speaker 2: I would have thought. So let's talk about what happened 204 00:10:25,040 --> 00:10:28,079 Speaker 2: at that press conference yesterday. Nicola Willis came out and 205 00:10:28,160 --> 00:10:31,439 Speaker 2: said there is a chance and they don't know how 206 00:10:31,480 --> 00:10:34,760 Speaker 2: big the chance is yet nobody does. Anybody's guess. Only 207 00:10:34,840 --> 00:10:38,120 Speaker 2: Trump knows and this new Harmony guy who's running Iran. 208 00:10:39,080 --> 00:10:41,560 Speaker 2: But we need to know how big a hit to 209 00:10:41,640 --> 00:10:44,400 Speaker 2: GDP we're going to take could take because of what's 210 00:10:44,440 --> 00:10:46,840 Speaker 2: going on in the Middle East, and there are estimates 211 00:10:46,880 --> 00:10:49,400 Speaker 2: out there. Nikola Willis gave us some yesterday, but you 212 00:10:49,440 --> 00:10:51,760 Speaker 2: would have to say on the balance of probabilities at 213 00:10:51,760 --> 00:10:56,120 Speaker 2: this point that quarter two the recovery is probably stalling. 214 00:10:56,200 --> 00:10:57,000 Speaker 1: Ryan Bridge. 215 00:10:57,440 --> 00:10:59,640 Speaker 2: New Westpac report out this morning says we need to 216 00:10:59,640 --> 00:11:02,880 Speaker 2: send more public health procedures to the private system. We 217 00:11:02,960 --> 00:11:05,920 Speaker 2: spend about ten percent of our GDP on health the year, 218 00:11:06,000 --> 00:11:08,880 Speaker 2: seven percent public, three percent private. That's about the same 219 00:11:08,920 --> 00:11:11,440 Speaker 2: as the rest of the world. But the report argues 220 00:11:11,480 --> 00:11:15,640 Speaker 2: that specialized treatments could go private, cutting wait times, improving outcomes. 221 00:11:15,720 --> 00:11:19,240 Speaker 2: Chris Roberts, New Zealand Private Surgical Hospitals Associations CEO with 222 00:11:19,280 --> 00:11:21,839 Speaker 2: me this morning. Chris, good morning, Good morning. 223 00:11:21,920 --> 00:11:22,120 Speaker 8: Ryan. 224 00:11:22,200 --> 00:11:23,839 Speaker 2: Has Westpac kept the nail on the head here? 225 00:11:25,160 --> 00:11:27,720 Speaker 9: Well, I don't think there's any surprises in these conclusions 226 00:11:27,720 --> 00:11:32,840 Speaker 9: from Westpac. New Zealand's had a mixed private public health 227 00:11:32,880 --> 00:11:35,679 Speaker 9: system for a very long time. Private hospitals have been 228 00:11:35,720 --> 00:11:39,080 Speaker 9: around for one hundred years in New Zealand, and we 229 00:11:39,160 --> 00:11:42,319 Speaker 9: are being called on more and more, and that's because 230 00:11:42,360 --> 00:11:47,200 Speaker 9: we do have the capabilities. We deliver quality care and 231 00:11:47,240 --> 00:11:50,680 Speaker 9: we can take pressure off the public health system, and. 232 00:11:50,600 --> 00:11:53,160 Speaker 2: The government's already doing this with hips and knees and 233 00:11:53,160 --> 00:11:56,000 Speaker 2: a bunch of other stuff more frequently now than previously. 234 00:11:56,360 --> 00:11:59,040 Speaker 2: Is that the report says there's lots of capacity. I 235 00:11:59,040 --> 00:12:01,440 Speaker 2: mean do we have surgeon sitting around twiddling their thumbs 236 00:12:01,440 --> 00:12:02,320 Speaker 2: in private. 237 00:12:03,880 --> 00:12:09,079 Speaker 9: No, we don't, but we do have private hospitals investing. 238 00:12:09,120 --> 00:12:12,959 Speaker 9: They've invested heavily over the last few years into new facilities, 239 00:12:13,440 --> 00:12:17,800 Speaker 9: new operating sizes. They don't tend to have the staffing 240 00:12:17,840 --> 00:12:21,559 Speaker 9: issues that some of the public hospitals do, so they 241 00:12:21,600 --> 00:12:26,400 Speaker 9: are looking to provide a bigger service. And of course 242 00:12:26,440 --> 00:12:29,920 Speaker 9: the private hospitals as well as the insurance patients that 243 00:12:29,960 --> 00:12:34,600 Speaker 9: they look after, they've long done most of the ACC surgery. 244 00:12:34,640 --> 00:12:38,760 Speaker 9: So about ninety percent of the surgery done under the 245 00:12:38,800 --> 00:12:44,439 Speaker 9: ACC scheme happens in private hospitals, and currently about twenty 246 00:12:44,520 --> 00:12:47,800 Speaker 9: percent of the health New Zealand patients those on the 247 00:12:47,800 --> 00:12:51,680 Speaker 9: elective surgery waiting lists, about twenty percent get seen in 248 00:12:51,720 --> 00:12:54,360 Speaker 9: the private hospital. And I can tell you if you're 249 00:12:54,400 --> 00:12:56,880 Speaker 9: on that public waiting list and you get told that 250 00:12:56,920 --> 00:12:59,880 Speaker 9: you're going to get your long awaited surgery in a 251 00:13:00,080 --> 00:13:02,480 Speaker 9: private hospital, you're pretty happy about that. 252 00:13:02,880 --> 00:13:06,520 Speaker 2: No one's going to say no to a knee now, Chris, 253 00:13:07,080 --> 00:13:09,800 Speaker 2: what's the public system getting so wrong when it comes 254 00:13:09,800 --> 00:13:12,680 Speaker 2: to efficiency or are you actually doing very different things 255 00:13:12,679 --> 00:13:15,840 Speaker 2: and therefore they can't cop all the blame. 256 00:13:16,720 --> 00:13:19,600 Speaker 9: Oh, look, the public system is trying to be everything 257 00:13:19,600 --> 00:13:24,960 Speaker 9: to everybody, so it's dealing with acute surgery emergency needs. 258 00:13:26,000 --> 00:13:29,360 Speaker 9: Private hospital is all about planned care, so they're not 259 00:13:29,480 --> 00:13:34,600 Speaker 9: doing that emergency service. They can plan their week, they're 260 00:13:34,600 --> 00:13:37,440 Speaker 9: month ahead of they know which patients are coming in 261 00:13:37,480 --> 00:13:41,560 Speaker 9: for surgery. They're incredibly efficient at looking after those patients 262 00:13:41,920 --> 00:13:46,359 Speaker 9: and that's why it makes sense for those planned surgeries 263 00:13:47,000 --> 00:13:50,560 Speaker 9: to happen in a private facility. It's far more efficient, 264 00:13:50,760 --> 00:13:54,600 Speaker 9: it's more cost effective, and critically, it gives the patient 265 00:13:54,760 --> 00:13:57,720 Speaker 9: a better experience. They know when they're going to get 266 00:13:57,760 --> 00:14:00,439 Speaker 9: their surgery that they're not going to get stop the 267 00:14:00,520 --> 00:14:04,640 Speaker 9: list several times, have to prepare for surgery and miss 268 00:14:04,679 --> 00:14:07,360 Speaker 9: out and come back again. When you get booked into 269 00:14:07,360 --> 00:14:09,160 Speaker 9: a private hospital, you know when you're going to have 270 00:14:09,200 --> 00:14:10,360 Speaker 9: your surgery and you get it. 271 00:14:11,160 --> 00:14:13,920 Speaker 2: Chris, appreciate your time this morning. Chris Roberts, the Private 272 00:14:13,960 --> 00:14:17,720 Speaker 2: Surgical Hospitals Association Chief Executive. Twenty four minutes after five, 273 00:14:18,240 --> 00:14:20,360 Speaker 2: you're on News Talks theirb I'll give you a little 274 00:14:20,440 --> 00:14:23,720 Speaker 2: update on the situation in the Middle East. Next also 275 00:14:23,880 --> 00:14:28,360 Speaker 2: the you know the alleged terrorist, the Bondai Beach gunman, 276 00:14:28,480 --> 00:14:31,080 Speaker 2: one of them. You won't believe what he's trying to 277 00:14:31,080 --> 00:14:33,280 Speaker 2: do in court. I'll tell you that shortly to Donald 278 00:14:33,280 --> 00:14:35,720 Speaker 2: de Mayo out of Australia after News at half five. 279 00:14:35,920 --> 00:14:40,080 Speaker 1: The early edition Full the Show podcast on iHeartRadio powered 280 00:14:40,080 --> 00:14:41,720 Speaker 1: by News TALKSB. 281 00:14:42,320 --> 00:14:45,120 Speaker 2: Five twenty six News TALKSB. The war in Iran is 282 00:14:45,120 --> 00:14:47,240 Speaker 2: not a shocking event in the sense that we knew 283 00:14:47,280 --> 00:14:50,000 Speaker 2: it was coming. Trump's been not so much hinting but 284 00:14:50,120 --> 00:14:52,480 Speaker 2: sounding a foghorn for months now, and as we've been 285 00:14:52,480 --> 00:14:54,520 Speaker 2: covering on this show, as you well know, he's been 286 00:14:54,560 --> 00:14:57,720 Speaker 2: amassing military assets in the region since the end of January. 287 00:14:58,600 --> 00:15:01,320 Speaker 2: So not surprising. But what what has surprised is Iran 288 00:15:01,440 --> 00:15:04,600 Speaker 2: hitting their neighbors, the Golf States so hard, including the 289 00:15:04,600 --> 00:15:07,880 Speaker 2: oil fields and the refineries. This has surprised the markets, 290 00:15:07,960 --> 00:15:10,760 Speaker 2: hence what we're seeing in Asia and at home. Same 291 00:15:10,840 --> 00:15:13,600 Speaker 2: goes for the price of oil. Yesterday when we talked 292 00:15:13,600 --> 00:15:16,000 Speaker 2: about that Gold and Sax estimate of one hundred dollars 293 00:15:16,040 --> 00:15:18,360 Speaker 2: a barrel by the end of the week, we got 294 00:15:18,360 --> 00:15:21,440 Speaker 2: there by the end of Monday. Remember they also warned 295 00:15:21,480 --> 00:15:23,560 Speaker 2: of one hundred and fifty dollars a barrel by the 296 00:15:23,640 --> 00:15:26,520 Speaker 2: end of the month. Let's hope we're not there by Friday. 297 00:15:27,240 --> 00:15:30,560 Speaker 2: Oil and fertilizer run our agricultural sector. And yesterday I 298 00:15:30,600 --> 00:15:33,080 Speaker 2: was listening to a grain farmer in christ Church say 299 00:15:33,120 --> 00:15:36,200 Speaker 2: that daily harvesting costs on his farm would increase by 300 00:15:36,280 --> 00:15:40,880 Speaker 2: two to three thousand dollars a day already during harvesting. 301 00:15:41,480 --> 00:15:43,920 Speaker 2: We're not immune to the price spikes, but we're also 302 00:15:44,080 --> 00:15:47,520 Speaker 2: not that well insulated from them either. We're reliant on 303 00:15:47,640 --> 00:15:50,120 Speaker 2: energy imports to keep us afloat now more than ever. 304 00:15:50,760 --> 00:15:54,080 Speaker 2: Marsden Point used to refine seventy percent of our petrol 305 00:15:54,200 --> 00:15:57,880 Speaker 2: ninety percent of our diesel. Extracting oil and gas became 306 00:15:57,920 --> 00:16:00,960 Speaker 2: a cardinal sin under labor. You don't know what you've 307 00:16:00,960 --> 00:16:04,640 Speaker 2: got till it's gone, do you. The international shocks, which 308 00:16:04,680 --> 00:16:07,800 Speaker 2: as we all now know, aren't that shocking, are also 309 00:16:07,880 --> 00:16:12,240 Speaker 2: driving a surge in support for economic nationalism and self reliance. 310 00:16:12,360 --> 00:16:15,840 Speaker 2: Look at New Zealand. First, to this government's credit, it 311 00:16:15,840 --> 00:16:19,160 Speaker 2: has extended our emergency oil backup supplies, done deals with 312 00:16:19,200 --> 00:16:21,400 Speaker 2: the Singapore's of the world so that we don't run out. 313 00:16:21,440 --> 00:16:24,840 Speaker 2: Hopefully and as a backstop we're about to do LNG. 314 00:16:25,080 --> 00:16:29,440 Speaker 2: But again that's imported subject to shocks. The more global 315 00:16:29,440 --> 00:16:32,840 Speaker 2: events we have, the more we un for self reliance 316 00:16:32,920 --> 00:16:37,960 Speaker 2: and greater energy independence. Our world beating exports keep US afloat, 317 00:16:38,560 --> 00:16:42,080 Speaker 2: but what use are they without a reliable supply of 318 00:16:42,280 --> 00:16:47,840 Speaker 2: reasonably priced inputs that help produce them. Twenty eight minutes 319 00:16:47,880 --> 00:16:51,680 Speaker 2: after five News Talks mb SO, the alleged gunman in 320 00:16:51,960 --> 00:16:56,360 Speaker 2: Bondai in Sydney, Navid Arkram is his name. This is 321 00:16:56,400 --> 00:16:59,480 Speaker 2: one of the two has sought a court order to 322 00:16:59,680 --> 00:17:04,720 Speaker 2: prevent the media from publishing details of his immediate family. Why. 323 00:17:05,240 --> 00:17:08,600 Speaker 2: Because he's worried about their safety. He's worried the fact 324 00:17:08,600 --> 00:17:13,399 Speaker 2: that he allegedly went and shot up a peaceful park 325 00:17:13,480 --> 00:17:18,720 Speaker 2: near the beach fifteen murdered. He's worried that that reputation 326 00:17:18,960 --> 00:17:21,400 Speaker 2: might stain that of his family, and he's worried about 327 00:17:21,440 --> 00:17:24,680 Speaker 2: how people are going to treat them in public. I'm 328 00:17:24,760 --> 00:17:28,000 Speaker 2: sorry and I'm the skull. If you were worried about that, 329 00:17:29,160 --> 00:17:33,280 Speaker 2: maybe don't go and massacre Jewish people, you know. Donald 330 00:17:33,280 --> 00:17:36,560 Speaker 2: Demayo out of Australia with US Live After News and 331 00:17:36,720 --> 00:17:40,040 Speaker 2: Sharon Zohlner from A and Z's on the price of 332 00:17:40,119 --> 00:17:41,760 Speaker 2: oil News Talks they've been. 333 00:17:49,280 --> 00:17:51,879 Speaker 1: The news you need this morning and the in depth 334 00:17:51,880 --> 00:17:56,359 Speaker 1: analysis early edition with Ryan Bridge and one Route Love 335 00:17:56,440 --> 00:17:58,159 Speaker 1: where you Live news talks that'd be. 336 00:18:02,800 --> 00:18:04,760 Speaker 2: Pretty far away from the six zero on newsbooks have 337 00:18:04,880 --> 00:18:07,040 Speaker 2: the Sharon Zolan and the Gains in chief economists with 338 00:18:07,080 --> 00:18:09,920 Speaker 2: us before six is our economic recovery about to stall 339 00:18:10,000 --> 00:18:12,240 Speaker 2: because of what's happening in the Middle East they're rationing 340 00:18:12,359 --> 00:18:15,440 Speaker 2: fuel and Western Australia because of oil. Iran will speak 341 00:18:15,480 --> 00:18:18,120 Speaker 2: to Donald de Mayo out of there shortly by the way. 342 00:18:18,320 --> 00:18:21,119 Speaker 2: At the moment, Rachel Reeves, Chancellor in the UK, is 343 00:18:21,119 --> 00:18:23,360 Speaker 2: giving an update to the House of Commons. She's been 344 00:18:23,400 --> 00:18:26,520 Speaker 2: in a G seven meeting with other finance ministers deciding 345 00:18:26,560 --> 00:18:30,560 Speaker 2: whether they will release some strategic reserves of oil and 346 00:18:30,600 --> 00:18:33,840 Speaker 2: then hopefully calm the farm. So we'll play you some 347 00:18:33,880 --> 00:18:35,440 Speaker 2: of what she's had to say in the last few 348 00:18:35,440 --> 00:18:38,800 Speaker 2: minutes as well. Twenty three to six Bryan Bridge, God 349 00:18:38,880 --> 00:18:41,639 Speaker 2: is a Eden first, Jamie, good morning, Good morning. So 350 00:18:41,720 --> 00:18:44,320 Speaker 2: there's a study into the Hector's dolphins. What's that about. 351 00:18:44,960 --> 00:18:48,040 Speaker 4: Yeah, So the species currently has a population just over 352 00:18:48,119 --> 00:18:52,000 Speaker 4: fifteen hundred and has four sub populations in the South Island. 353 00:18:52,240 --> 00:18:54,960 Speaker 4: They are managed under the Hectors and Marwi Dolphin Threat 354 00:18:55,040 --> 00:18:58,879 Speaker 4: Management Plan. So this study will collect genetic sample of 355 00:18:58,960 --> 00:19:02,359 Speaker 4: the dolphins determine how closely related or not they are 356 00:19:02,480 --> 00:19:07,280 Speaker 4: to neighboring populations. Department of Conservation Senior Science Advisor and 357 00:19:07,480 --> 00:19:10,560 Speaker 4: On Van Holden says data collected throughout the week will 358 00:19:10,560 --> 00:19:14,119 Speaker 4: support their long term protection, ensuring the species continues for 359 00:19:14,160 --> 00:19:15,280 Speaker 4: future generations. 360 00:19:15,560 --> 00:19:16,480 Speaker 2: How's the weather. 361 00:19:17,000 --> 00:19:21,000 Speaker 4: Mainly fine, some high cloud from afternoon, northeasterlyies developing this 362 00:19:21,040 --> 00:19:22,360 Speaker 4: morning and a higher fourteen. 363 00:19:22,480 --> 00:19:25,000 Speaker 2: Thank you very much, Jamie Clear in christ Which morning, Claire, 364 00:19:25,320 --> 00:19:29,080 Speaker 2: Good morning. A freedom campers in North Brighton putting children 365 00:19:29,080 --> 00:19:29,520 Speaker 2: at risk. 366 00:19:30,359 --> 00:19:33,680 Speaker 10: Yes, there has been concerns around freedom camping at North 367 00:19:33,680 --> 00:19:36,760 Speaker 10: Brighton for some time now. The Community Board of North 368 00:19:36,800 --> 00:19:39,000 Speaker 10: Beach has been considering the next steps in dealing with 369 00:19:39,080 --> 00:19:42,320 Speaker 10: the issue to put it into perspective. Effectively, you drive 370 00:19:42,359 --> 00:19:44,520 Speaker 10: down Marine Parade and there's all of these car parks 371 00:19:44,520 --> 00:19:46,760 Speaker 10: along the beach and a lot of them overnight and 372 00:19:46,840 --> 00:19:49,800 Speaker 10: through the weekend are just filled with vans and camper 373 00:19:49,880 --> 00:19:52,960 Speaker 10: vans etc. There's obviously concerned around the impact of that 374 00:19:53,040 --> 00:19:56,479 Speaker 10: on the environment, but now also on children. There's children 375 00:19:56,520 --> 00:19:59,960 Speaker 10: who are there's campers rather showering naked and open place. 376 00:20:00,280 --> 00:20:04,200 Speaker 10: There's waste and rubbish being left behind. The community Board's 377 00:20:04,200 --> 00:20:07,800 Speaker 10: looking for next steps. The board member Kim Money says 378 00:20:07,960 --> 00:20:11,240 Speaker 10: things have only escalated and there's real worried, a real 379 00:20:11,280 --> 00:20:15,880 Speaker 10: worry rather that a public safety, the environment and community access. 380 00:20:15,600 --> 00:20:17,680 Speaker 2: Is being compromisedness may how's your weather? 381 00:20:18,200 --> 00:20:20,560 Speaker 10: A bit of cloud about this morning? Otherwise fine southern 382 00:20:20,600 --> 00:20:23,160 Speaker 10: east turning northeasterly and a high of sixteen. 383 00:20:22,800 --> 00:20:24,720 Speaker 2: Thank you very much. Just before we get to Max, 384 00:20:24,760 --> 00:20:27,560 Speaker 2: by the way, that G seven Finance Minister's meeting and 385 00:20:27,640 --> 00:20:31,280 Speaker 2: the International Energy Agency they have not come to an 386 00:20:31,280 --> 00:20:33,919 Speaker 2: agreement on whether to release strategic crud reserves or not, 387 00:20:34,760 --> 00:20:37,200 Speaker 2: so no decision as yet. They say we will take 388 00:20:37,320 --> 00:20:40,440 Speaker 2: necessary measures, but they haven't actually agreed to do anything. Max. 389 00:20:40,440 --> 00:20:43,320 Speaker 2: Good morning, Good morning. They have agreed to do something 390 00:20:43,400 --> 00:20:46,120 Speaker 2: about a four hundred thousand dollars knees up in Wellington? 391 00:20:46,119 --> 00:20:47,600 Speaker 2: What's that about here? 392 00:20:48,200 --> 00:20:52,280 Speaker 11: As if our city officials never learn our central Library 393 00:20:52,359 --> 00:20:56,240 Speaker 11: here is reopening and to celebrate a few brainless drones 394 00:20:56,240 --> 00:20:57,760 Speaker 11: thought it a good idea to have a four hundred 395 00:20:57,800 --> 00:21:00,720 Speaker 11: and five thousand dollars massive two day party over the 396 00:21:00,760 --> 00:21:05,119 Speaker 11: weekend to celebrate large civic ceremony, invited guests, street festival, 397 00:21:05,560 --> 00:21:09,399 Speaker 11: food trucks, road closures, performances, because apparently that's what you 398 00:21:09,440 --> 00:21:11,200 Speaker 11: do when a civic building gets a couple of years 399 00:21:11,200 --> 00:21:14,040 Speaker 11: of earthquake strengthening. Somewhere at the mayors off is obviously 400 00:21:14,040 --> 00:21:17,200 Speaker 11: caught wind of this and, fearing the type of headline 401 00:21:17,359 --> 00:21:21,240 Speaker 11: we saw frequently during the previous disastrous administration, put the 402 00:21:21,320 --> 00:21:25,480 Speaker 11: kibosh on the thing, or at least managed to negotiate 403 00:21:25,520 --> 00:21:27,440 Speaker 11: the cost down to about one hundred and seventy five 404 00:21:27,480 --> 00:21:30,600 Speaker 11: thousand dollars of rate payer money. Apparently the project team 405 00:21:30,640 --> 00:21:34,760 Speaker 11: had been operating under direct council instruction from last July. 406 00:21:35,560 --> 00:21:38,159 Speaker 11: The library back open on Monday, though it's Saturday, I 407 00:21:38,160 --> 00:21:40,520 Speaker 11: should say, the mind boggles. 408 00:21:40,560 --> 00:21:41,200 Speaker 2: How's you winning? 409 00:21:41,920 --> 00:21:44,280 Speaker 11: Yeah, mainly find strong southerly sixteen. 410 00:21:44,600 --> 00:21:48,000 Speaker 2: Thank you very much, Neva, good morning, Good morning. Orcan's 411 00:21:48,040 --> 00:21:51,240 Speaker 2: Midtown has the most to gain from the Crlberican. 412 00:21:51,440 --> 00:21:57,280 Speaker 12: Yes, Midtown so commercial real estate agency JLL Research finds 413 00:21:57,280 --> 00:22:00,240 Speaker 12: it more than ten billion dollars of private and public 414 00:22:00,359 --> 00:22:04,119 Speaker 12: investment is being pumped into that precinct. That's that area 415 00:22:04,240 --> 00:22:07,440 Speaker 12: from you know, lt Square and Skytower as well, So 416 00:22:07,480 --> 00:22:10,880 Speaker 12: it highlights that you know what, Midtown's much cheaper, much 417 00:22:10,920 --> 00:22:13,480 Speaker 12: cheaper for businesses to set up and you know, rather 418 00:22:13,560 --> 00:22:17,320 Speaker 12: than the waterfront and Britain. Mark Chris Dibble from JLL. 419 00:22:17,400 --> 00:22:20,440 Speaker 12: He said of research, saying that the property values their 420 00:22:20,520 --> 00:22:22,800 Speaker 12: set to also benefit. You're quite right from the city 421 00:22:22,880 --> 00:22:26,280 Speaker 12: rail link, and he says overseas example show that rents 422 00:22:26,520 --> 00:22:30,040 Speaker 12: often rises ten to twenty percent after the main train 423 00:22:30,119 --> 00:22:30,919 Speaker 12: station opens. 424 00:22:31,000 --> 00:22:33,200 Speaker 2: So which is going to happen in September. Remember we're 425 00:22:33,200 --> 00:22:34,240 Speaker 2: still going down there. 426 00:22:34,119 --> 00:22:36,280 Speaker 12: Rightly, Ah, have we had approval? 427 00:22:37,119 --> 00:22:37,640 Speaker 2: No one's going. 428 00:22:37,840 --> 00:22:38,359 Speaker 12: We are going. 429 00:22:38,400 --> 00:22:39,200 Speaker 2: We're going anywhere. 430 00:22:39,200 --> 00:22:40,080 Speaker 12: No one can stop us. 431 00:22:40,160 --> 00:22:42,000 Speaker 2: Now you watch us. How's our weather fine? 432 00:22:42,040 --> 00:22:42,399 Speaker 13: To start with? 433 00:22:42,480 --> 00:22:42,800 Speaker 7: Cloudy? 434 00:22:42,800 --> 00:22:46,000 Speaker 12: Period's isolated chowles this morning are HIGHR twenty. 435 00:22:45,840 --> 00:22:48,640 Speaker 2: Four brilliant neither thank you. In nineteen minutes away from 436 00:22:48,640 --> 00:22:50,440 Speaker 2: six on news talks, he'll be we'll get to Australia, 437 00:22:50,480 --> 00:22:52,800 Speaker 2: Donald and Mayer standing by for us and we'll have 438 00:22:52,840 --> 00:22:54,920 Speaker 2: a bit of time for Sharon's old this morning AM's 439 00:22:55,080 --> 00:22:58,640 Speaker 2: chief economists. Because well, the question you want to ask 440 00:22:58,680 --> 00:23:02,480 Speaker 2: at this point is is the price of oil and 441 00:23:02,480 --> 00:23:04,400 Speaker 2: the fact that I mean it's come down overnight. By 442 00:23:04,400 --> 00:23:05,880 Speaker 2: the way, I for you're just joining us. The last 443 00:23:05,880 --> 00:23:08,400 Speaker 2: time I had a little squizz, it was around ninety seven. 444 00:23:08,480 --> 00:23:11,000 Speaker 2: This is Brent crude ninety seven dollars down from the 445 00:23:11,080 --> 00:23:14,359 Speaker 2: high of one hundred and almost one hundred and twenty yesterday, 446 00:23:14,400 --> 00:23:16,760 Speaker 2: which was a twenty five percent premium on the day 447 00:23:16,800 --> 00:23:20,160 Speaker 2: before that or the close before that. So the next 448 00:23:20,240 --> 00:23:23,000 Speaker 2: question is is you know, one, how long does the 449 00:23:23,040 --> 00:23:25,479 Speaker 2: whole thing go on for? And then two what impact 450 00:23:25,640 --> 00:23:28,840 Speaker 2: might that have on our recovery? Because remember what happened 451 00:23:28,880 --> 00:23:33,040 Speaker 2: last time when Trump Tariff's people sort of clamped up 452 00:23:33,040 --> 00:23:36,400 Speaker 2: a bit, clammed up, stopped spending. Confidence took a hit, 453 00:23:36,520 --> 00:23:39,320 Speaker 2: Business confidence took a hit, consumer confidence took a hit. 454 00:23:39,600 --> 00:23:41,840 Speaker 2: So if that happens again, what does it mean for 455 00:23:41,880 --> 00:23:45,080 Speaker 2: the recovery? Does it stall? In Q two All Ahead 456 00:23:45,160 --> 00:23:48,600 Speaker 2: News Talks, B sixteen away from six News Talks, zib 457 00:23:48,760 --> 00:23:50,560 Speaker 2: Sharon Zolder from A and Z on the way In 458 00:23:50,640 --> 00:23:53,679 Speaker 2: just a few moments, the G seven finance ministers have 459 00:23:53,760 --> 00:23:56,560 Speaker 2: been meeting while we have been sleeping, and they have 460 00:23:56,680 --> 00:24:00,119 Speaker 2: agreed to well do nothing at this point about releasing 461 00:24:00,200 --> 00:24:02,960 Speaker 2: strategic reserves of oil. They got a whole bunch of oil. 462 00:24:03,200 --> 00:24:05,480 Speaker 2: When the price goes crazy, they released it to calm 463 00:24:05,520 --> 00:24:08,600 Speaker 2: the farm. They've only done this five times before. The 464 00:24:08,680 --> 00:24:12,800 Speaker 2: most recent was when Russia invaded Ukraine back in twenty 465 00:24:12,840 --> 00:24:15,680 Speaker 2: twenty two. Here's a cook update from Rachel Reads, who 466 00:24:15,720 --> 00:24:18,280 Speaker 2: was at the meeting, now addressing the House of Commons. 467 00:24:18,480 --> 00:24:22,800 Speaker 13: This afternoon, I spoke with G seven finance ministers setting 468 00:24:22,800 --> 00:24:28,439 Speaker 13: out my priorities for the international corporation needed. First, calling 469 00:24:28,480 --> 00:24:34,760 Speaker 13: for immediate de escalation and a return to the diplomatic process. Second, 470 00:24:35,320 --> 00:24:38,080 Speaker 13: we must guarantee the security of vessels passing through the 471 00:24:38,119 --> 00:24:42,680 Speaker 13: straight off hor moves. Third, I stand ready to support 472 00:24:42,720 --> 00:24:47,080 Speaker 13: a coordinated release of collective International Energy Agency oil reserves. 473 00:24:47,320 --> 00:24:50,520 Speaker 2: On that question, the French have come out and said, quote, 474 00:24:50,680 --> 00:24:52,679 Speaker 2: we are not quite there yet. 475 00:24:53,640 --> 00:24:57,639 Speaker 1: International correspondence with Insigne Eye Insurance Peace of mind for 476 00:24:57,680 --> 00:24:58,640 Speaker 1: New Zealand business. 477 00:24:59,440 --> 00:25:01,960 Speaker 2: Donald Our, Australia correspondent with US Live this morning on 478 00:25:02,080 --> 00:25:04,800 Speaker 2: a good morning, Good morning to you. We've got fuel 479 00:25:04,880 --> 00:25:06,639 Speaker 2: rations starting in Western Australia. 480 00:25:07,800 --> 00:25:10,760 Speaker 5: Yes, Well, as we watch those oil prices start to 481 00:25:10,840 --> 00:25:14,680 Speaker 5: saw fuel wholesalers are understood to have started rationing their 482 00:25:14,720 --> 00:25:19,359 Speaker 5: stock and we've heard from the federal Energy Minister, Chris Bowen, 483 00:25:19,400 --> 00:25:21,879 Speaker 5: and he says that this the panic buying and not 484 00:25:21,960 --> 00:25:26,840 Speaker 5: the supply issues that are causing or contributing to a shortage. 485 00:25:27,000 --> 00:25:29,040 Speaker 5: Now we have heard that at least two towns in 486 00:25:29,240 --> 00:25:34,320 Speaker 5: Wa have started banning drivers from buying fuel at all. 487 00:25:34,640 --> 00:25:39,800 Speaker 5: They're reserving it for only emergency authorities apparently. And we 488 00:25:39,960 --> 00:25:43,040 Speaker 5: also know that the Wa Premier, Roger Cooker's had to 489 00:25:43,040 --> 00:25:45,360 Speaker 5: come out and say something and he says, look, there's 490 00:25:45,400 --> 00:25:48,560 Speaker 5: no constraints on supply chains at the moment, but can 491 00:25:48,560 --> 00:25:51,320 Speaker 5: you imagine what's happening when the petrol pumps are shut. 492 00:25:51,480 --> 00:25:53,480 Speaker 5: This is pushing motorists to the next. 493 00:25:53,240 --> 00:25:54,040 Speaker 2: One up the road. 494 00:25:54,320 --> 00:25:57,560 Speaker 5: And so we're hearing reports of you know, quite lengthy queues, 495 00:25:57,720 --> 00:25:59,600 Speaker 5: you know, ten to fifteen cars at a time, all 496 00:25:59,640 --> 00:26:02,400 Speaker 5: lined and people are starting to fill their jerry cans. 497 00:26:03,040 --> 00:26:05,680 Speaker 5: We've heard from one petrol station owner who said he's 498 00:26:05,680 --> 00:26:08,399 Speaker 5: had to put a thirty liter limit on a fuel 499 00:26:08,480 --> 00:26:10,680 Speaker 5: until they can get some more fuel in. He said, 500 00:26:11,000 --> 00:26:13,760 Speaker 5: it's like a scene from a movie at the moment. 501 00:26:14,359 --> 00:26:17,440 Speaker 2: Meanwhile, you've got hundreds of people evacuated in a too 502 00:26:17,520 --> 00:26:20,119 Speaker 2: dar and I should say in northern territory floods and 503 00:26:20,200 --> 00:26:22,160 Speaker 2: loads of crocodile sightings. 504 00:26:22,640 --> 00:26:24,920 Speaker 5: Oh gosh, okay, I've braced yourself here. So in some 505 00:26:24,960 --> 00:26:28,600 Speaker 5: parts between two hundred and five hundred mills of rain 506 00:26:28,880 --> 00:26:31,879 Speaker 5: in five days and it looks like it's going to 507 00:26:31,920 --> 00:26:34,439 Speaker 5: last for another week. So there's been some of the 508 00:26:34,480 --> 00:26:38,520 Speaker 5: worst flooding in decades, record breaking levels. For instance, the 509 00:26:38,600 --> 00:26:41,960 Speaker 5: Dalhi River, it reached its peak yesterday at about fifteen 510 00:26:42,000 --> 00:26:44,800 Speaker 5: point three meters. It's the highest it's been since nineteen 511 00:26:45,160 --> 00:26:48,800 Speaker 5: ninety eight. So we've heard from the Mayor of Catherine. 512 00:26:48,840 --> 00:26:51,880 Speaker 5: In fact, the Catherine River peak yesterday at nineteen point 513 00:26:51,920 --> 00:26:55,480 Speaker 5: two meters, which is also a record. Streets are inundated. 514 00:26:55,720 --> 00:26:59,320 Speaker 5: She says he's never seen so many fresh water and 515 00:26:59,400 --> 00:27:03,080 Speaker 5: saltwater crops in local floodwaters before. And wait for it, 516 00:27:03,119 --> 00:27:07,280 Speaker 5: a crocodile was even spotted on the local footy oval. Now, 517 00:27:07,440 --> 00:27:10,560 Speaker 5: as someone put it, that certainly adds an element of 518 00:27:10,680 --> 00:27:11,960 Speaker 5: danger to the cleanup. 519 00:27:12,400 --> 00:27:14,960 Speaker 2: Certainly does. I don't like thinking about that stuff, but 520 00:27:15,000 --> 00:27:17,719 Speaker 2: I appreciate you your time all the same. Dona Tomorrow, 521 00:27:17,720 --> 00:27:21,800 Speaker 2: Australia correspondent, just gone twelve minutes away from six I 522 00:27:21,840 --> 00:27:24,560 Speaker 2: re all heard the doom and gloom at POSTCAB yesterday, I. 523 00:27:24,440 --> 00:27:27,040 Speaker 6: Am advised that a quick resolution of the conflict in 524 00:27:27,080 --> 00:27:30,879 Speaker 6: the next few weeks would see the economy evolve close 525 00:27:30,960 --> 00:27:34,679 Speaker 6: to the preliminary forecasts, albeit with slightly higher inflation in 526 00:27:34,720 --> 00:27:38,080 Speaker 6: the near term. A longer conflict would likely have downside 527 00:27:38,160 --> 00:27:39,280 Speaker 6: GDP impacts. 528 00:27:39,880 --> 00:27:42,080 Speaker 2: By the way, Brent Crew this morning has come back 529 00:27:42,119 --> 00:27:44,400 Speaker 2: from one hundred and twenty dollars of barrels now back 530 00:27:44,480 --> 00:27:46,720 Speaker 2: under one hundred dollars, still floating around a wee bit. 531 00:27:46,800 --> 00:27:49,600 Speaker 2: Sharon's Olner A and Z chief economists with us this morning. Sharon, 532 00:27:49,640 --> 00:27:52,760 Speaker 2: good morning, good morning. Give it to us straight. How 533 00:27:52,760 --> 00:27:53,879 Speaker 2: bad is this going to get? 534 00:27:56,520 --> 00:27:56,639 Speaker 1: Well? 535 00:27:57,240 --> 00:28:00,800 Speaker 8: Having spoken to them, major world leaders, that's the thing 536 00:28:00,920 --> 00:28:04,640 Speaker 8: that we are in no position to know. And the 537 00:28:04,680 --> 00:28:07,240 Speaker 8: Finance Minister is quite right that the duration of the 538 00:28:07,280 --> 00:28:09,399 Speaker 8: shock is just as important as the size of it. 539 00:28:09,680 --> 00:28:11,480 Speaker 8: And as regards the size of it, I mean, oil 540 00:28:11,640 --> 00:28:14,520 Speaker 8: one hundred and twenty yesterday, now it's back under one hundred. 541 00:28:14,600 --> 00:28:18,520 Speaker 8: I mean, these moves are enormous, so very very difficult 542 00:28:18,600 --> 00:28:21,879 Speaker 8: to gauge the severity of the shock for markets at 543 00:28:21,880 --> 00:28:25,120 Speaker 8: the moment, but yeah, some are shooting first and ask 544 00:28:25,160 --> 00:28:27,879 Speaker 8: some questions later. In terms of the market moves have 545 00:28:28,080 --> 00:28:32,800 Speaker 8: been quite ferocious. But we're seeing not just the oil 546 00:28:32,840 --> 00:28:36,399 Speaker 8: price but other prices like bond yields coming back a 547 00:28:36,440 --> 00:28:38,520 Speaker 8: bit as well, which is good because we had a 548 00:28:38,560 --> 00:28:40,240 Speaker 8: wild day yesterday in the Zealand market. 549 00:28:40,400 --> 00:28:42,440 Speaker 2: Yeah it was pretty crazy, wasn't it. Do you think 550 00:28:42,520 --> 00:28:44,840 Speaker 2: it'll might come down a bit more today, given what's 551 00:28:44,880 --> 00:28:46,120 Speaker 2: happening with that oil price? 552 00:28:47,480 --> 00:28:50,040 Speaker 8: Is it? Typically the New Zealand market reflects what's happened 553 00:28:50,160 --> 00:28:52,920 Speaker 8: in the US market overnight. So that I've just checked, 554 00:28:52,920 --> 00:28:54,960 Speaker 8: the US ten ure yields have come back a long way, 555 00:28:55,080 --> 00:28:59,640 Speaker 8: so the New Zealand bond yield should follow hopefully on 556 00:28:59,640 --> 00:29:02,360 Speaker 8: the open. But we will continue to follow them up 557 00:29:02,400 --> 00:29:05,280 Speaker 8: and down however the volatility goes. And that's one of 558 00:29:05,360 --> 00:29:07,239 Speaker 8: the things that is easier to be certain about at 559 00:29:07,280 --> 00:29:09,520 Speaker 8: the moment, is that solatility is going to continue because 560 00:29:09,560 --> 00:29:13,000 Speaker 8: markets are reacting to headlines that are all over the place, of. 561 00:29:12,960 --> 00:29:16,200 Speaker 2: Course, and then there's our reaction to those headlines too, 562 00:29:16,320 --> 00:29:19,280 Speaker 2: both businesses and consumers. And we saw what happened with 563 00:29:19,280 --> 00:29:21,240 Speaker 2: Trump and as tariffs, you know, we all went, oh, 564 00:29:21,600 --> 00:29:24,800 Speaker 2: let's not spend any money, let's stay home. Whatever, do 565 00:29:24,840 --> 00:29:26,680 Speaker 2: you you know, is there a risk that happens here? 566 00:29:26,840 --> 00:29:28,160 Speaker 2: Does the recovery stall? 567 00:29:29,960 --> 00:29:33,680 Speaker 8: Absolutely? Uncertainty is not great for decision making, That's always 568 00:29:33,680 --> 00:29:35,360 Speaker 8: the case. And of course we've already got an election 569 00:29:35,640 --> 00:29:38,800 Speaker 8: this year that we were wondering if that uncertainty could impact, 570 00:29:38,800 --> 00:29:41,760 Speaker 8: and the uncertainty about the global growth outlook will be 571 00:29:41,800 --> 00:29:45,400 Speaker 8: weighing on the minds of exporters for sure, and cost 572 00:29:45,680 --> 00:29:49,440 Speaker 8: inflation potentially as Well've obviously got a lot of businesses 573 00:29:49,440 --> 00:29:53,040 Speaker 8: that are exposed to energy costs. Fertilizer is another one 574 00:29:53,040 --> 00:29:56,760 Speaker 8: that tends to move pretty closely with oil as well. 575 00:29:57,560 --> 00:30:01,120 Speaker 8: So yeah, the uncertainty, well, let's hope it's really quickly. 576 00:30:01,160 --> 00:30:04,480 Speaker 8: But right here, right now, it feels like it's pretty 577 00:30:04,520 --> 00:30:06,920 Speaker 8: much at the maximum in terms of whether we're looking 578 00:30:06,920 --> 00:30:10,120 Speaker 8: at a short or a long term disruption to oil 579 00:30:10,200 --> 00:30:10,760 Speaker 8: markets here. 580 00:30:11,360 --> 00:30:13,920 Speaker 2: And yet you sound quite relaxed to me. Is that 581 00:30:13,960 --> 00:30:17,120 Speaker 2: because is Sharon? Is that because you're doing your best 582 00:30:17,120 --> 00:30:20,160 Speaker 2: to sound relaxed or do you think do you think 583 00:30:20,160 --> 00:30:22,200 Speaker 2: there's an equal chance actually this could wrap up in 584 00:30:22,200 --> 00:30:24,320 Speaker 2: a week or two and everything's back to normal. 585 00:30:25,400 --> 00:30:28,280 Speaker 8: Not looking that way, is it. But it is looking 586 00:30:28,320 --> 00:30:31,240 Speaker 8: a lot better than it was twelve hours ago in 587 00:30:31,360 --> 00:30:34,920 Speaker 8: terms of the market prices, but who knows where it 588 00:30:35,040 --> 00:30:38,200 Speaker 8: looks like twelve hours from now. But I do think 589 00:30:38,360 --> 00:30:40,920 Speaker 8: that central banks at the list will be keen to 590 00:30:41,400 --> 00:30:45,760 Speaker 8: not panic and not do anything rash in terms of 591 00:30:46,280 --> 00:30:49,200 Speaker 8: rushing to raise infestrates because it's inflationary for example, because 592 00:30:49,200 --> 00:30:52,680 Speaker 8: it is also bad for growth, and so the trade 593 00:30:52,680 --> 00:30:55,600 Speaker 8: off and the choices are quite stark for central banks 594 00:30:55,640 --> 00:30:59,080 Speaker 8: in terms of how they should respond to it. Our 595 00:30:59,160 --> 00:31:02,720 Speaker 8: own central bank, there's confidence and implation that looks in Febry. 596 00:31:02,760 --> 00:31:05,400 Speaker 8: I'm sure they're feeling less confident now, just because oil 597 00:31:05,480 --> 00:31:08,479 Speaker 8: is such an important input into all sorts of costs 598 00:31:08,480 --> 00:31:12,880 Speaker 8: and prices. But as long as inflation expectations remain well 599 00:31:12,920 --> 00:31:15,360 Speaker 8: anchored and they can tolerate a bit of noise in 600 00:31:15,720 --> 00:31:19,440 Speaker 8: the near term, rather than feel they need to deliberately 601 00:31:19,880 --> 00:31:22,920 Speaker 8: heed the recovery off in order to make sure inflations 602 00:31:22,960 --> 00:31:25,200 Speaker 8: back at two percent quickly. That's not how these things work. 603 00:31:25,640 --> 00:31:28,680 Speaker 8: But it's a very long sustained shock, and there will 604 00:31:28,720 --> 00:31:32,480 Speaker 8: be more difficult to look through those inflationary impacts, and 605 00:31:31,960 --> 00:31:33,640 Speaker 8: then it could get a bit ugly. 606 00:31:33,920 --> 00:31:36,640 Speaker 2: Sharon, thank you. Sharon's on the A and Z Chief Economists. 607 00:31:36,680 --> 00:31:37,760 Speaker 2: You're on News Talk sib. 608 00:31:37,960 --> 00:31:41,520 Speaker 1: It's eight to six, the first word on the News 609 00:31:41,560 --> 00:31:45,280 Speaker 1: of the Day Early edition with Ryan Bridge and one 610 00:31:45,400 --> 00:31:46,720 Speaker 1: Roote Love where. 611 00:31:46,560 --> 00:31:49,120 Speaker 2: You Live, News talks'd b. These Talks sa'd be is 612 00:31:49,160 --> 00:31:51,280 Speaker 2: six minutes away from six. Has been quite a busy, 613 00:31:51,360 --> 00:31:54,320 Speaker 2: heavy hour, hasn't it. Here's Timothy Shamlow, who's the actor 614 00:31:54,560 --> 00:31:57,880 Speaker 2: who goes out with Kylie Jenner, getting himself in a 615 00:31:57,880 --> 00:32:00,800 Speaker 2: bit of trouble talking about opera and ballet. 616 00:32:00,840 --> 00:32:04,200 Speaker 14: And some people want to be entertaining quickly. I'm really 617 00:32:04,280 --> 00:32:06,840 Speaker 14: right in the middle, Matthew, because I admire people, and 618 00:32:06,840 --> 00:32:08,400 Speaker 14: I've done it myself to want to talk toiout, Hey, 619 00:32:08,440 --> 00:32:10,280 Speaker 14: we got to keep movie theaters alive, you know, we 620 00:32:10,400 --> 00:32:12,680 Speaker 14: got to keep this genre alive. And another part of 621 00:32:12,680 --> 00:32:15,960 Speaker 14: me feels like if people want to see it like Barbie, 622 00:32:15,960 --> 00:32:17,360 Speaker 14: like Oppenheimer, they're going to go see it and go 623 00:32:17,400 --> 00:32:19,000 Speaker 14: out of the wad and be loud and proud about it. 624 00:32:19,360 --> 00:32:21,360 Speaker 14: And I don't want to be working in ballet or 625 00:32:21,400 --> 00:32:23,960 Speaker 14: opera or you know, things where it's like, hey, keep 626 00:32:24,000 --> 00:32:24,719 Speaker 14: this thing alive. 627 00:32:24,800 --> 00:32:29,320 Speaker 2: Even though he's talking to Matthew McConaughey. As you can imagine, 628 00:32:29,320 --> 00:32:33,120 Speaker 2: now the ballet people and the opera people have their 629 00:32:33,120 --> 00:32:37,080 Speaker 2: tutus in a real twist. Ryan Bridge, good morning, Mike 630 00:32:37,320 --> 00:32:40,320 Speaker 2: Gating's Ryan, you have a ballet or an opera person? 631 00:32:40,480 --> 00:32:42,680 Speaker 15: I was, I've been the worst one I ever went 632 00:32:42,720 --> 00:32:44,760 Speaker 15: to was Wagner's Demeister Singer. 633 00:32:45,000 --> 00:32:45,800 Speaker 2: Have you ever been to that? 634 00:32:46,520 --> 00:32:50,240 Speaker 15: It's it lasts with meal breaks, and there are meal breaks. 635 00:32:50,600 --> 00:32:53,960 Speaker 15: It lasts eight hours, oh that one. And so you 636 00:32:54,040 --> 00:32:56,880 Speaker 15: have your head, Well, this was an afternoon into evening session, 637 00:32:56,960 --> 00:32:59,640 Speaker 15: so you had a late afternoon snack and then moving 638 00:32:59,640 --> 00:33:00,480 Speaker 15: on in to dinner. 639 00:33:00,720 --> 00:33:03,239 Speaker 2: Do you you tended to leave halfway through very much? 640 00:33:04,720 --> 00:33:05,320 Speaker 2: Where it didn't you? 641 00:33:05,840 --> 00:33:07,240 Speaker 15: If it was, it was a good question. I think 642 00:33:07,280 --> 00:33:09,160 Speaker 15: I think actually did in the end. But I had 643 00:33:09,160 --> 00:33:11,360 Speaker 15: the two meals. I thought, well, if we're here for 644 00:33:11,400 --> 00:33:12,560 Speaker 15: the two meals, I'll do the time. 645 00:33:12,600 --> 00:33:14,840 Speaker 2: They included in that they were part of the Oh, 646 00:33:15,280 --> 00:33:16,480 Speaker 2: there was no way they were going to keep I 647 00:33:16,560 --> 00:33:18,320 Speaker 2: mean unless you were helling Clark, There's no way you're 648 00:33:18,320 --> 00:33:19,360 Speaker 2: staying for eight hours. 649 00:33:19,760 --> 00:33:21,320 Speaker 15: So they had to keep you there with free food. 650 00:33:21,400 --> 00:33:23,360 Speaker 2: I get a bit of flat from friends because if 651 00:33:23,400 --> 00:33:25,640 Speaker 2: I don't like a movie, like just a normal movie 652 00:33:25,760 --> 00:33:27,840 Speaker 2: two hours two and a half hours long. If I 653 00:33:27,880 --> 00:33:30,000 Speaker 2: don't like it, I just leave the cinema and it's 654 00:33:30,160 --> 00:33:31,840 Speaker 2: you know, I'm going. 655 00:33:31,760 --> 00:33:34,960 Speaker 15: To go to the cinema. I would I would feel 656 00:33:35,000 --> 00:33:37,200 Speaker 15: different about the television. I'd walk away from a movie. 657 00:33:37,320 --> 00:33:38,800 Speaker 15: I watched a movie I can't you remember what it 658 00:33:38,840 --> 00:33:41,040 Speaker 15: was the other day ten minutes and I thought this 659 00:33:41,080 --> 00:33:41,440 Speaker 15: is crap. 660 00:33:41,480 --> 00:33:41,880 Speaker 2: I was gone. 661 00:33:42,000 --> 00:33:42,560 Speaker 15: That was the end of that. 662 00:33:42,640 --> 00:33:44,880 Speaker 2: See now you add up how many ten minutes we 663 00:33:45,000 --> 00:33:48,479 Speaker 2: waste have we wasted on starting movies and not finishing them? 664 00:33:48,520 --> 00:33:50,400 Speaker 15: Yeah, and imagine all the money you've saved over the 665 00:33:50,480 --> 00:33:52,960 Speaker 15: years that you can now put into your petrol now. 666 00:33:52,800 --> 00:33:54,960 Speaker 2: That you count you don't afford it. 667 00:33:55,000 --> 00:33:56,800 Speaker 15: Yeah, quite right to say it's below one hundred and two. 668 00:33:56,880 --> 00:33:58,880 Speaker 15: By the way, so yesterday was I think a bit 669 00:33:58,920 --> 00:33:59,520 Speaker 15: of an apparition. 670 00:33:59,600 --> 00:34:02,120 Speaker 2: But we'll do all the numbers. Fantastic work at work 671 00:34:02,120 --> 00:34:04,720 Speaker 2: it through Crystal Ballert and hey, the G seven will 672 00:34:04,720 --> 00:34:11,040 Speaker 2: save us well. Marvey News Talks be Marke next La. 673 00:34:11,880 --> 00:34:17,880 Speaker 1: Continne For more from Early Edition with Ryan Bridge. Listen 674 00:34:17,960 --> 00:34:21,000 Speaker 1: live to News Talk Set B from five am weekdays, 675 00:34:21,239 --> 00:34:23,320 Speaker 1: or follow the podcast on iHeartRadio.