1 00:00:01,960 --> 00:00:06,440 Speaker 1: The issues, the interviews and the insight. Andrew Dickens on 2 00:00:06,680 --> 00:00:10,720 Speaker 1: early edition with one roof Make your Property search Simple 3 00:00:11,400 --> 00:00:12,160 Speaker 1: Used talks it be. 4 00:00:13,640 --> 00:00:15,840 Speaker 2: Well, good morning to you, Welcome to your Wednesday, Thank 5 00:00:15,880 --> 00:00:18,160 Speaker 2: you so much for choosing us, and welcome to the 6 00:00:18,280 --> 00:00:21,279 Speaker 2: lunar new Year. It is the first day of the 7 00:00:21,400 --> 00:00:24,640 Speaker 2: Year of the Snake. And on the program today, China's 8 00:00:24,680 --> 00:00:28,680 Speaker 2: AI slaughters the American tech sector. What is the fallout 9 00:00:28,680 --> 00:00:31,800 Speaker 2: from deep sinks stunning software drop. We'll have that story 10 00:00:31,800 --> 00:00:34,479 Speaker 2: for you in five minutes time. What happens when two 11 00:00:34,560 --> 00:00:38,239 Speaker 2: shipping companies collide, Well, we hope cheaper freight. And we're 12 00:00:38,280 --> 00:00:41,000 Speaker 2: going to talk to the Ports of UKONCYEO and Nick 13 00:00:41,080 --> 00:00:44,560 Speaker 2: Leggett from Infrastructure New Zealand, of which asseats we could 14 00:00:44,880 --> 00:00:47,560 Speaker 2: and couldn't sell, and we'll talk to him just before six. 15 00:00:47,600 --> 00:00:50,000 Speaker 2: We'll have correspondence from right around the world and New Zealand. 16 00:00:50,120 --> 00:00:52,519 Speaker 2: We'll have the news as it breaks. You can contribute 17 00:00:52,520 --> 00:00:55,279 Speaker 2: by texting me ninety two ninety two. A small charge applies. 18 00:00:55,600 --> 00:00:58,680 Speaker 2: If you have something better to say, Email me Dickens 19 00:00:58,680 --> 00:01:01,960 Speaker 2: at news Talks atb dot co dot zre comboding to 20 00:01:01,960 --> 00:01:08,040 Speaker 2: you a seven after five the agenda Wednesday, the twenty 21 00:01:08,120 --> 00:01:11,480 Speaker 2: ninth of January, and US federal grants and loans have 22 00:01:11,600 --> 00:01:13,119 Speaker 2: been paused by the White House. 23 00:01:13,480 --> 00:01:19,440 Speaker 3: It really seeks to take aim at policies and priorities 24 00:01:19,480 --> 00:01:22,959 Speaker 3: of the previous administration, the Biden administration, when you look 25 00:01:23,000 --> 00:01:27,280 Speaker 3: at some of the diversity, equity and inclusion programs, clean 26 00:01:27,600 --> 00:01:32,760 Speaker 3: energy spending. This wants to align federal spending with Trump 27 00:01:32,880 --> 00:01:34,640 Speaker 3: administration priorities. 28 00:01:34,760 --> 00:01:38,520 Speaker 2: So of course the Democrats have questioned it's legality. They 29 00:01:38,560 --> 00:01:42,480 Speaker 2: say impacted spending has been improved by Congress. So there 30 00:01:42,520 --> 00:01:45,039 Speaker 2: we go. Wait to see. Stocks in the US appear 31 00:01:45,080 --> 00:01:47,319 Speaker 2: to have stabilized a bit after the heavy drops yesterday 32 00:01:47,360 --> 00:01:50,480 Speaker 2: with the news of the Chinese AI company Deep Seek. 33 00:01:51,200 --> 00:01:53,480 Speaker 2: The tech driven Masdak is up point two percent after 34 00:01:53,520 --> 00:01:56,320 Speaker 2: dropping more than three percent yesterday. Google is up point 35 00:01:56,360 --> 00:02:00,840 Speaker 2: one percent, while Microsoft is down point six percent. To Africa, 36 00:02:00,920 --> 00:02:03,240 Speaker 2: and a rebel group is continuing to advance in the 37 00:02:03,280 --> 00:02:07,080 Speaker 2: city of Goma in the Democratic Republic of Congo. The 38 00:02:07,120 --> 00:02:08,800 Speaker 2: group now controls the city's airport. 39 00:02:09,080 --> 00:02:11,920 Speaker 4: Well, it isn't very clear at all in terms of 40 00:02:11,960 --> 00:02:15,280 Speaker 4: who is in control. Residents there are basically cowering in 41 00:02:15,320 --> 00:02:19,520 Speaker 4: their houses to escape the fighting. What they are saying 42 00:02:19,760 --> 00:02:22,880 Speaker 4: is that they keep hearing gunfire throughout the night and 43 00:02:22,919 --> 00:02:23,960 Speaker 4: again this morning. 44 00:02:24,120 --> 00:02:28,120 Speaker 2: And neighboring Rwanda has been accused of backing the rebel group, 45 00:02:29,120 --> 00:02:31,840 Speaker 2: and US President Donald Trump says Microsoft is in talks 46 00:02:31,840 --> 00:02:34,519 Speaker 2: to buy TikTok from its Chinese parent company Bike Dance. 47 00:02:35,200 --> 00:02:38,280 Speaker 2: It's almost five years since Microsoft was approached by the 48 00:02:38,320 --> 00:02:41,640 Speaker 2: company for a possible sale that didn't happen. Trump says 49 00:02:41,680 --> 00:02:43,760 Speaker 2: he wants to see a bidding war for the app, 50 00:02:44,080 --> 00:02:46,919 Speaker 2: which has been granted a seventy five day reprieve from 51 00:02:47,080 --> 00:02:50,200 Speaker 2: US bands. So don't worry. Bad Dancing and in name 52 00:02:50,320 --> 00:02:52,760 Speaker 2: video clips are all still online. 53 00:02:54,080 --> 00:02:58,079 Speaker 1: Get ahead of the headlines on early edition Andrew Dickens 54 00:02:58,120 --> 00:03:02,000 Speaker 1: and One Room, Make your proper research, Simple News Talks. 55 00:03:02,040 --> 00:03:04,760 Speaker 2: It be nine after five. The hot political word of 56 00:03:04,760 --> 00:03:06,880 Speaker 2: the day is privatization. We'll be talking about this with 57 00:03:06,960 --> 00:03:09,480 Speaker 2: Nick Leggett. I did the Drive show on Monday. I 58 00:03:09,520 --> 00:03:14,360 Speaker 2: asked Finance Minister Nicola Willis directly if privatization or what 59 00:03:14,400 --> 00:03:17,919 Speaker 2: they call it these days, asset recycling, was being considered 60 00:03:17,919 --> 00:03:21,040 Speaker 2: by her government. She said not in this term, which 61 00:03:21,040 --> 00:03:23,040 Speaker 2: I thought stood at odds a bit with their just 62 00:03:23,120 --> 00:03:28,600 Speaker 2: say yes, Ethos, just say yes, Nicola, but she said no. Yesterday, 63 00:03:28,639 --> 00:03:31,600 Speaker 2: the Prime Minister was also pested about the plans for privatization. 64 00:03:32,040 --> 00:03:35,520 Speaker 2: He also said no and added that they would campaign 65 00:03:35,560 --> 00:03:39,760 Speaker 2: on the issue next election to get a mandate, to 66 00:03:39,880 --> 00:03:44,640 Speaker 2: get permission, and considering the way privatization creates knee jerk 67 00:03:44,680 --> 00:03:48,240 Speaker 2: reactions and always has done, that is probably a wise 68 00:03:48,320 --> 00:03:52,840 Speaker 2: response get a mandate. But what is a mandate in 69 00:03:52,920 --> 00:03:57,880 Speaker 2: today's political environment? In the current government, privatization will not 70 00:03:58,000 --> 00:04:01,360 Speaker 2: happen because the coalition partner, New Zealand First is against 71 00:04:01,400 --> 00:04:04,160 Speaker 2: it and Winston has the whip hand. But what happens 72 00:04:04,200 --> 00:04:06,560 Speaker 2: when we go to the polls next time? Say National 73 00:04:06,640 --> 00:04:08,880 Speaker 2: and Act campaign on the idea, but to form a 74 00:04:08,920 --> 00:04:11,880 Speaker 2: government they have to form a coalition and they need 75 00:04:11,920 --> 00:04:14,240 Speaker 2: a third party because they still haven't hit the fifty 76 00:04:14,240 --> 00:04:20,239 Speaker 2: percent threshold. Would that be a mandate for privatization? If Labor, 77 00:04:20,279 --> 00:04:23,120 Speaker 2: the Greens, the Maori Party in New Zealand First campaign 78 00:04:23,160 --> 00:04:28,719 Speaker 2: against privatization and their combined vote exceeds National and Acts, 79 00:04:29,000 --> 00:04:32,240 Speaker 2: can they rarely claim a mandate against the idea. These 80 00:04:32,279 --> 00:04:35,120 Speaker 2: are all ifs butts of maybe's governments do what governments do. 81 00:04:35,800 --> 00:04:37,880 Speaker 2: But the debates on the rights and the wrongs of 82 00:04:37,880 --> 00:04:42,200 Speaker 2: privatization and asset sales will rumble on. And the thing is, 83 00:04:42,320 --> 00:04:47,920 Speaker 2: no potential asset buyer overseas knows if a yes or 84 00:04:47,960 --> 00:04:51,360 Speaker 2: a no is on the way, and they'll be going 85 00:04:51,440 --> 00:04:54,760 Speaker 2: make your minds up. And this is another example about 86 00:04:54,760 --> 00:05:00,800 Speaker 2: how MMP our political system negates decisive leadership. Or in 87 00:05:00,839 --> 00:05:04,080 Speaker 2: other words, I'm sorry about this, Christopher Luxan, our system 88 00:05:04,160 --> 00:05:06,360 Speaker 2: is actually rigged to support saying no. 89 00:05:07,040 --> 00:05:08,760 Speaker 1: Andrew Dickens, all right, we're going to. 90 00:05:08,680 --> 00:05:10,919 Speaker 2: Talk about AI in a few moments time, and deep 91 00:05:10,960 --> 00:05:14,640 Speaker 2: seek and how it's affected the markets has quite remarkable. 92 00:05:14,760 --> 00:05:16,679 Speaker 2: I personally am not a big fan of AI because 93 00:05:16,680 --> 00:05:20,400 Speaker 2: of the terminator of Matrix movies that was AI. That's 94 00:05:20,400 --> 00:05:23,839 Speaker 2: when the machines became sentient and they realized the greatest 95 00:05:23,839 --> 00:05:28,159 Speaker 2: threat to humanity is humanity itself. Therefore, the logic was 96 00:05:28,240 --> 00:05:30,320 Speaker 2: to make us safe. The best idea is just to 97 00:05:30,320 --> 00:05:33,080 Speaker 2: get rid of us entirely. So I've never liked AI, 98 00:05:33,200 --> 00:05:35,880 Speaker 2: but that aside, I have seen how AI can make 99 00:05:35,920 --> 00:05:38,520 Speaker 2: us better, even though it can only use ideas that 100 00:05:38,600 --> 00:05:42,400 Speaker 2: already exist rather than creating new ones, which could mean 101 00:05:42,400 --> 00:05:44,600 Speaker 2: that in a way we kind of dumbed down while 102 00:05:44,640 --> 00:05:46,560 Speaker 2: we let our machines do our thinking for us. They're 103 00:05:46,600 --> 00:05:50,799 Speaker 2: always looking at the past. But the latest unintended consequence 104 00:05:50,800 --> 00:05:56,839 Speaker 2: of AI is AI created child porn. Of course, the perverse. 105 00:05:56,880 --> 00:05:59,400 Speaker 2: We've got to take advantage of the latest technology. They 106 00:05:59,440 --> 00:06:01,320 Speaker 2: always have. Look at it, look, I mean, look at 107 00:06:01,360 --> 00:06:03,960 Speaker 2: all the Internet services. But it's just another warning that 108 00:06:04,000 --> 00:06:06,880 Speaker 2: AI is the newest Pandora or box. It's a development 109 00:06:06,920 --> 00:06:10,039 Speaker 2: that can do so much good but also can unleash 110 00:06:10,120 --> 00:06:13,080 Speaker 2: new hells. And we'll talk about it with Brad Olsen next. 111 00:06:13,160 --> 00:06:15,560 Speaker 2: It's twelve after five News. 112 00:06:15,240 --> 00:06:18,159 Speaker 1: And Views You Trust to start your day is early 113 00:06:18,320 --> 00:06:22,080 Speaker 1: edition with Andrew Dickens and one roof Make your Property 114 00:06:22,160 --> 00:06:24,600 Speaker 1: Search Simple News Talk said. 115 00:06:24,320 --> 00:06:27,120 Speaker 2: Be mining to you. It's five pin fifteen. US tech 116 00:06:27,160 --> 00:06:29,560 Speaker 2: stocks have been taking a hammering after the debut of 117 00:06:29,600 --> 00:06:32,240 Speaker 2: AI's new kid on the block, and it's called deep Seek. 118 00:06:32,720 --> 00:06:35,720 Speaker 2: Deep Seek is a Chinese tech firm that's created its 119 00:06:35,720 --> 00:06:40,000 Speaker 2: own budget AI model look at Ai, done by Temu Maybe, 120 00:06:40,520 --> 00:06:42,919 Speaker 2: and it's said to be more efficient and significantly cheaper 121 00:06:42,960 --> 00:06:44,880 Speaker 2: compared to others on the market, and it had an 122 00:06:44,880 --> 00:06:48,240 Speaker 2: impact on the new Zealand super fund. It calls Invidios 123 00:06:48,279 --> 00:06:51,680 Speaker 2: stocks to dive seventeen percent yesterday. So I'm joined by 124 00:06:51,680 --> 00:06:54,480 Speaker 2: Inframetric CEO and principal economists Brad Olson. 125 00:06:54,640 --> 00:06:56,560 Speaker 5: Hello, Brad, good warning. 126 00:06:56,760 --> 00:06:59,320 Speaker 2: Wow, who saw this coming? This is a bold move. 127 00:07:00,600 --> 00:07:02,720 Speaker 6: Oh it was huge. And I tell you what, yesterday 128 00:07:02,800 --> 00:07:04,800 Speaker 6: was a very easy way to lose money on the 129 00:07:04,800 --> 00:07:06,520 Speaker 6: markets without doing anything at all. 130 00:07:06,560 --> 00:07:08,520 Speaker 7: So I mean it was it was a bit of 131 00:07:08,520 --> 00:07:09,560 Speaker 7: a market blood bath. 132 00:07:09,680 --> 00:07:12,120 Speaker 6: I mean, if you look at what had been happening 133 00:07:12,160 --> 00:07:14,960 Speaker 6: though really over the last year, last two years, is 134 00:07:15,040 --> 00:07:18,840 Speaker 6: everyone has been plowing some serious, serious money into AI 135 00:07:19,440 --> 00:07:22,120 Speaker 6: and tech stops. This was the next big thing. It 136 00:07:22,240 --> 00:07:24,240 Speaker 6: was the area that the more that you put into 137 00:07:24,240 --> 00:07:26,080 Speaker 6: which the more you return, you were going to get 138 00:07:26,120 --> 00:07:28,520 Speaker 6: out the other side because it was going to change everything. 139 00:07:28,960 --> 00:07:31,920 Speaker 6: And then effectively, overnight you had deep Seek that came 140 00:07:31,960 --> 00:07:36,320 Speaker 6: out and it was purported that it costs six million 141 00:07:36,360 --> 00:07:40,080 Speaker 6: dollars to train compared to something like open ais Chat GPT, 142 00:07:40,200 --> 00:07:43,120 Speaker 6: which was like one hundred million, and it was producing 143 00:07:43,280 --> 00:07:46,440 Speaker 6: just as good it's not better results, and everyone went, well, geez, 144 00:07:46,440 --> 00:07:48,760 Speaker 6: why am I investing these big sums? I better pull 145 00:07:48,760 --> 00:07:51,280 Speaker 6: it out now. So within the space of the day 146 00:07:51,400 --> 00:07:54,320 Speaker 6: you'd seen the likes of the video with its big 147 00:07:54,760 --> 00:07:58,960 Speaker 6: chip and AI sort of focus, lost six hundred billion US. 148 00:07:59,000 --> 00:08:03,520 Speaker 6: That's over a trillion New Zealand dollars, biggest single drop 149 00:08:03,600 --> 00:08:06,520 Speaker 6: that we've seen ever in terms of dollar terms. But 150 00:08:06,600 --> 00:08:10,160 Speaker 6: it's also interesting how quickly this has changed. Around yesterday, 151 00:08:10,160 --> 00:08:13,280 Speaker 6: twenty four hours ago, the numbers were looking absolutely awful. 152 00:08:13,320 --> 00:08:15,679 Speaker 6: The likes that S and P five hundred was down 153 00:08:16,000 --> 00:08:19,760 Speaker 6: two percent. By today right here right now, that market's 154 00:08:19,760 --> 00:08:23,560 Speaker 6: already recovered in general terms about half of that drop. 155 00:08:23,640 --> 00:08:27,080 Speaker 6: So still down, but really some big market reactions. Everyone 156 00:08:27,160 --> 00:08:29,440 Speaker 6: now trying to get a handle on how big is 157 00:08:29,480 --> 00:08:31,760 Speaker 6: AI and how much money do they want to put 158 00:08:31,800 --> 00:08:32,160 Speaker 6: into it. 159 00:08:32,320 --> 00:08:34,079 Speaker 2: Was it a surprise that China came up with such 160 00:08:34,120 --> 00:08:35,439 Speaker 2: a good little model. 161 00:08:36,160 --> 00:08:38,440 Speaker 6: Well, it seemed to be for a lot of the markets, 162 00:08:38,559 --> 00:08:41,560 Speaker 6: especially because there has been a much greater level of 163 00:08:41,600 --> 00:08:44,840 Speaker 6: control on some of the chips and some of the technology, 164 00:08:44,960 --> 00:08:48,000 Speaker 6: the semiconductors and the likes that have been going into 165 00:08:48,040 --> 00:08:51,280 Speaker 6: supporting greater and greater AI investment, And so the view 166 00:08:51,400 --> 00:08:54,520 Speaker 6: was that China shouldn't be able to do this, shouldn't 167 00:08:54,520 --> 00:08:56,480 Speaker 6: be able to come up with something nearly as good 168 00:08:56,520 --> 00:08:59,680 Speaker 6: because there are restrictions on this technology, which is again 169 00:08:59,760 --> 00:09:02,959 Speaker 6: why everyone went well, if China has managed to achieve 170 00:09:03,320 --> 00:09:07,080 Speaker 6: a superior product for cheaper with all of these restrictions 171 00:09:07,080 --> 00:09:10,360 Speaker 6: in place, then maybe it's not worth these companies that 172 00:09:10,400 --> 00:09:14,360 Speaker 6: are making these chips and semiconductors. Maybe they're not worth 173 00:09:14,360 --> 00:09:17,240 Speaker 6: the money that everyone's pumped into them. And I think 174 00:09:17,280 --> 00:09:19,120 Speaker 6: this is going to be probably one of the challenges 175 00:09:19,160 --> 00:09:21,800 Speaker 6: for the next couple of years, is that everyone's trying 176 00:09:21,840 --> 00:09:24,200 Speaker 6: to figure out just how big or how important a 177 00:09:24,320 --> 00:09:27,520 Speaker 6: new category is. I mean, it's been clear, Andrew. We 178 00:09:27,600 --> 00:09:30,880 Speaker 6: saw this last year in January where during the World 179 00:09:30,880 --> 00:09:33,960 Speaker 6: Economic Forum and Davos, a lot of business leaders were saying, look, 180 00:09:34,000 --> 00:09:36,800 Speaker 6: AI's big. AI is important, but I don't quite know 181 00:09:36,800 --> 00:09:39,080 Speaker 6: how to use it in my company. All of a sudden, 182 00:09:39,120 --> 00:09:40,800 Speaker 6: we had a big sell off them as well, which 183 00:09:40,800 --> 00:09:42,520 Speaker 6: we recovered in a couple of months. So it's just 184 00:09:42,559 --> 00:09:45,720 Speaker 6: a bit of recalibration going on where people are going, Look, 185 00:09:45,720 --> 00:09:50,960 Speaker 6: we've probably overestimated just how absolutely amazing we think AI is. 186 00:09:51,000 --> 00:09:54,480 Speaker 6: We've just got to sort now recalibrate just how important 187 00:09:54,720 --> 00:09:57,040 Speaker 6: and how much money we're willing to put it good toods. 188 00:09:57,040 --> 00:09:59,080 Speaker 2: Brad Olsen from Informatrics, I thank you so much for 189 00:09:59,160 --> 00:10:03,040 Speaker 2: your time. Is five eighteen. Meanwhile, back back in the 190 00:10:03,080 --> 00:10:06,200 Speaker 2: traditional ways of doing business, a couple of shipping companies 191 00:10:06,400 --> 00:10:09,200 Speaker 2: have come up with an idea to revolutionize the way 192 00:10:09,480 --> 00:10:12,280 Speaker 2: containers travel around the world and that could make for 193 00:10:12,320 --> 00:10:15,560 Speaker 2: cheaper freight, which, considering we're here on the ends of 194 00:10:15,600 --> 00:10:17,640 Speaker 2: the earth, this is a great thing to talk about. 195 00:10:17,760 --> 00:10:18,960 Speaker 2: So we're going to talk about it in just a 196 00:10:18,960 --> 00:10:22,640 Speaker 2: few moments time with the CEO of Auckland Port, who's 197 00:10:22,720 --> 00:10:23,520 Speaker 2: Roger Gray. 198 00:10:24,320 --> 00:10:27,800 Speaker 1: Andrew Dickens on a filly edition with one roof, Make 199 00:10:27,880 --> 00:10:29,640 Speaker 1: your Property Search Simple. 200 00:10:29,880 --> 00:10:33,320 Speaker 2: Youth talg Zibby got some more depressing statistics on home 201 00:10:33,360 --> 00:10:36,480 Speaker 2: ownership from a global survey. Eighty percent of New Zealand 202 00:10:36,520 --> 00:10:40,439 Speaker 2: youngsters see home ownership as a distant dream. Two thirds 203 00:10:40,440 --> 00:10:43,640 Speaker 2: of renters have given up hope altogether, which is sad 204 00:10:43,679 --> 00:10:45,240 Speaker 2: for them, and you've got to say a bit of 205 00:10:45,280 --> 00:10:47,480 Speaker 2: a ticking time bond for society as they get older 206 00:10:47,520 --> 00:10:49,400 Speaker 2: and they hit retirement, because the one thing we all 207 00:10:49,400 --> 00:10:52,079 Speaker 2: need other than food and water is a roof above 208 00:10:52,080 --> 00:10:55,640 Speaker 2: our head, which unfortunately has become the most expensive need 209 00:10:55,720 --> 00:10:58,439 Speaker 2: of them all. More on this as the day goes on. Well, 210 00:10:58,480 --> 00:11:01,320 Speaker 2: maybe here's some good news for you. A collaboration between 211 00:11:01,320 --> 00:11:03,520 Speaker 2: two of the world's largest shipping companies could drive down 212 00:11:03,559 --> 00:11:08,880 Speaker 2: see freight prices. Hapag Lloyd and Mask's Gemini Corporation are 213 00:11:08,920 --> 00:11:11,800 Speaker 2: starting up next month. This co lab, which will cover 214 00:11:11,880 --> 00:11:15,000 Speaker 2: the ocean freight network on East West trades. It's meant 215 00:11:15,040 --> 00:11:19,000 Speaker 2: to see shipping prices drop immediately. Why improve stability in 216 00:11:19,040 --> 00:11:22,040 Speaker 2: the Red Sea imports of Walk and Chief executive Roger 217 00:11:22,080 --> 00:11:24,559 Speaker 2: Gray joins me. Now, good morning to here, Roger, Good 218 00:11:24,600 --> 00:11:26,360 Speaker 2: morning Andrew. Cheaper prices, that's good. 219 00:11:27,280 --> 00:11:27,520 Speaker 5: Yeah. 220 00:11:27,600 --> 00:11:30,880 Speaker 7: Well, look, I think exporters and importers across New Zealand 221 00:11:30,920 --> 00:11:34,000 Speaker 7: will be very happy with this initiative from Papak Lord 222 00:11:34,000 --> 00:11:34,320 Speaker 7: and Mrs. 223 00:11:34,559 --> 00:11:37,120 Speaker 2: It's cheaper because it's called a hub and spoke operation. 224 00:11:37,240 --> 00:11:38,280 Speaker 2: Can you explain that for me. 225 00:11:39,200 --> 00:11:41,040 Speaker 7: Yeah. What they're going to do is they're going to 226 00:11:41,120 --> 00:11:45,119 Speaker 7: move cargo on bigger ships more reliably with a better schedule, 227 00:11:45,440 --> 00:11:48,480 Speaker 7: into big hub ports and then they'll use smaller ships 228 00:11:48,520 --> 00:11:51,040 Speaker 7: to come down to ports like Auckland and Total. 229 00:11:52,080 --> 00:11:55,440 Speaker 2: So that means though freight could take longer because there's 230 00:11:55,480 --> 00:11:57,240 Speaker 2: a couple more movements. 231 00:11:57,880 --> 00:12:00,280 Speaker 7: Yeah, that's right, there could be. But what it will 232 00:12:00,320 --> 00:12:04,040 Speaker 7: be important for both importers and exports will there'll be 233 00:12:04,080 --> 00:12:07,600 Speaker 7: scheduled reliability. They'll know when their cargo will arrive. And 234 00:12:07,640 --> 00:12:10,360 Speaker 7: that's been one of the biggest complaints we've had from 235 00:12:10,360 --> 00:12:13,920 Speaker 7: customers over the last four or five years is ship's 236 00:12:13,960 --> 00:12:15,800 Speaker 7: not arriving on time. And this is a really good 237 00:12:15,800 --> 00:12:17,360 Speaker 7: initiative to get better at that. 238 00:12:17,559 --> 00:12:24,319 Speaker 2: So a arrival stability is more important than timiness. 239 00:12:25,440 --> 00:12:29,400 Speaker 7: Yeah. The reason for that is if your Woolworths and 240 00:12:29,440 --> 00:12:32,559 Speaker 7: you're ordering in food, you want to know when it's 241 00:12:32,640 --> 00:12:36,080 Speaker 7: going to arrive because you can then manage your inventores 242 00:12:36,120 --> 00:12:38,560 Speaker 7: to make sure you don't have stocks running out in 243 00:12:38,559 --> 00:12:42,160 Speaker 7: the stores. So, yeah, this reliability is what customers talked 244 00:12:42,160 --> 00:12:42,960 Speaker 7: to us a lot about. 245 00:12:43,080 --> 00:12:45,680 Speaker 2: And how does it improve stability in the Red Sea? 246 00:12:46,880 --> 00:12:50,600 Speaker 7: Will There's two things that are happening. One happy Lloyd 247 00:12:50,640 --> 00:12:53,920 Speaker 7: and Musk will be running these bigger ships with more tonnage, 248 00:12:54,000 --> 00:12:57,000 Speaker 7: so they'll be guaranteed to be flowing. The other thing 249 00:12:57,080 --> 00:12:59,800 Speaker 7: is you're probably aware that the Hooti rebels have acknowledged 250 00:12:59,840 --> 00:13:02,960 Speaker 7: that they're going to stop attacking ships unless they're directly 251 00:13:03,080 --> 00:13:05,760 Speaker 7: linked to Israel, so that means the ships won't be 252 00:13:05,800 --> 00:13:09,440 Speaker 7: going around the bottom of Africa to get to Europe. 253 00:13:09,520 --> 00:13:13,160 Speaker 7: So this should be a really good two things coming 254 00:13:13,160 --> 00:13:14,920 Speaker 7: together at the same time, should be really good for 255 00:13:14,960 --> 00:13:15,480 Speaker 7: the industry. 256 00:13:15,559 --> 00:13:18,280 Speaker 2: All right, And when does it take hold? When does 257 00:13:18,320 --> 00:13:19,240 Speaker 2: it start impacting? 258 00:13:20,160 --> 00:13:22,240 Speaker 7: Well, we expect that we'll start to see it within 259 00:13:22,280 --> 00:13:24,440 Speaker 7: the next few months down here in New Zealand. Whilst 260 00:13:24,480 --> 00:13:28,560 Speaker 7: the Gemini agreement is not actually flowing directly here, we'll 261 00:13:28,559 --> 00:13:31,120 Speaker 7: start to see it coming into Australia and the Upper 262 00:13:33,080 --> 00:13:35,880 Speaker 7: and that should then provide us with the opportunity to 263 00:13:35,920 --> 00:13:37,680 Speaker 7: see this come the next few months. 264 00:13:37,760 --> 00:13:39,440 Speaker 2: Hey, Roger, thank you so much for getting up early 265 00:13:39,520 --> 00:13:41,920 Speaker 2: for us. That is Roger Gray, who is the CEO 266 00:13:42,160 --> 00:13:43,880 Speaker 2: of the Ports of Aukland. And this is News Talks 267 00:13:43,880 --> 00:13:45,840 Speaker 2: here b And it's five twenty four and the text 268 00:13:45,920 --> 00:13:47,800 Speaker 2: number is ninety two ninety two. What are you all 269 00:13:47,840 --> 00:13:51,920 Speaker 2: still on holidays? No thoughts about privatization, very few texts 270 00:13:51,960 --> 00:13:54,920 Speaker 2: this morning we're back on Business People. 271 00:13:55,920 --> 00:14:00,560 Speaker 1: The early edition full show podcast on iHeartRadio, Blay News 272 00:14:00,559 --> 00:14:02,800 Speaker 1: Talk Hippy Well. 273 00:14:02,600 --> 00:14:04,679 Speaker 2: News Talks got a text through saying, gosh, you know, 274 00:14:04,760 --> 00:14:06,600 Speaker 2: it's the cost of living crisis right now, I can't 275 00:14:06,640 --> 00:14:08,960 Speaker 2: afford to text you. But that's funny because they texted me, 276 00:14:10,559 --> 00:14:14,800 Speaker 2: so yeah, ah, okay, come on now, oh thank you. 277 00:14:16,000 --> 00:14:18,680 Speaker 2: Somebody says I've been texting because I'll have to be 278 00:14:18,679 --> 00:14:21,520 Speaker 2: texting because I've been saving for a holiday. Welcome back. 279 00:14:22,080 --> 00:14:23,200 Speaker 2: You know what I've been doing that they I've been 280 00:14:23,200 --> 00:14:25,680 Speaker 2: watching a lot of the late night TV shows from America. 281 00:14:25,720 --> 00:14:27,680 Speaker 2: You can see them on YouTube, and that's Fallon and 282 00:14:27,760 --> 00:14:31,160 Speaker 2: Kimmel and Colbert and you know, this week, all of 283 00:14:31,200 --> 00:14:33,560 Speaker 2: them have used the exact same joke, all of them. 284 00:14:33,880 --> 00:14:36,760 Speaker 2: They've all said the same thing, and the joke is this, 285 00:14:37,560 --> 00:14:41,120 Speaker 2: oh my god, it's only been a week. And then 286 00:14:41,160 --> 00:14:43,680 Speaker 2: the crowd goes off and I don't know if they're 287 00:14:43,760 --> 00:14:46,280 Speaker 2: cheering or laughing or booing or crying, but I've got 288 00:14:46,280 --> 00:14:47,960 Speaker 2: a theory that they're probably doing all of that all 289 00:14:48,000 --> 00:14:51,640 Speaker 2: at once, because what a week. The second Golden Era 290 00:14:51,720 --> 00:14:54,280 Speaker 2: of Trump kicked off and he started doing things and 291 00:14:54,320 --> 00:14:57,200 Speaker 2: it was just news news, news, news news. Mister Trump 292 00:14:57,240 --> 00:14:59,360 Speaker 2: is now in your news feed twenty four to seven. 293 00:14:59,520 --> 00:15:02,280 Speaker 2: He's back, baby, he is so back. He went away 294 00:15:02,320 --> 00:15:05,080 Speaker 2: for four years. He is back. He's a dynamo. When 295 00:15:05,080 --> 00:15:08,520 Speaker 2: it comes to making people talk about stuff, and he 296 00:15:08,640 --> 00:15:13,560 Speaker 2: does stuff Colombia. Columbia won't take deportees, so what does 297 00:15:13,600 --> 00:15:16,000 Speaker 2: Trump do? Hits them with a killer tariff and economic 298 00:15:16,040 --> 00:15:18,760 Speaker 2: sansions say this is going to take hold in a week. 299 00:15:18,960 --> 00:15:23,240 Speaker 2: Within twelve hours, Columbia folded within twelve hours. It's the 300 00:15:23,360 --> 00:15:28,240 Speaker 2: fastest flip in history. Stunning crisis over back to work 301 00:15:28,280 --> 00:15:31,400 Speaker 2: business as usual. That was just one day of the 302 00:15:31,440 --> 00:15:34,480 Speaker 2: Trump management. And a short crisis is so much better 303 00:15:34,480 --> 00:15:37,160 Speaker 2: than a long, festering one when nothing happens, wouldn't you agree? 304 00:15:37,360 --> 00:15:40,640 Speaker 2: Or the ceasefire in Gaza, so Trump comes out and says, 305 00:15:40,680 --> 00:15:44,760 Speaker 2: call a sees fire, rebuild Gaza. Well, everybody wants to 306 00:15:44,760 --> 00:15:48,120 Speaker 2: rebuild Gaza. Jews want to rebuild Gaza, Arabs want to 307 00:15:48,160 --> 00:15:52,560 Speaker 2: rebuild Garda Gaza, American construction tycoons and people like Trump 308 00:15:52,760 --> 00:15:57,360 Speaker 2: want to rebuild Gaza. There's money there, so guess what netaniah? 309 00:15:57,360 --> 00:16:02,320 Speaker 2: Who did it? And just so that cease fire, Gaza 310 00:16:02,360 --> 00:16:06,080 Speaker 2: may be rebuilt as Israeli condos or Palestinian homes with 311 00:16:06,320 --> 00:16:09,000 Speaker 2: or without Arab money or American money, But who cares? 312 00:16:09,320 --> 00:16:14,080 Speaker 2: There's a ceasefire. Now this may have long term consequences, 313 00:16:14,520 --> 00:16:19,080 Speaker 2: but again, who cares. There's a ceasefire. Thank god, something 314 00:16:19,160 --> 00:16:22,800 Speaker 2: finally happened. That's what Trump does. He makes things happen. 315 00:16:23,080 --> 00:16:25,480 Speaker 2: And some people worry a lot about, oh, what might 316 00:16:25,720 --> 00:16:28,200 Speaker 2: happen next? Might be bad, but often you have no 317 00:16:28,240 --> 00:16:30,560 Speaker 2: idea what's going to happen next. It's been a week 318 00:16:30,600 --> 00:16:33,200 Speaker 2: of rapid and effective decisions and that's what you can 319 00:16:33,240 --> 00:16:36,160 Speaker 2: do when you've got the executive power in every level 320 00:16:36,160 --> 00:16:38,640 Speaker 2: of government behind you. He's the closest you've got to 321 00:16:38,680 --> 00:16:41,880 Speaker 2: an autocrat that you could get democratically. And I talked 322 00:16:41,920 --> 00:16:46,440 Speaker 2: earlier about privatization, and I talked about how MMP causes 323 00:16:46,520 --> 00:16:50,600 Speaker 2: indecisive leadership in New Zealand. Well, Donald Trump is the 324 00:16:50,640 --> 00:16:55,520 Speaker 2: antithesis of MMP, which is probably why so many Kiwis 325 00:16:55,920 --> 00:16:59,960 Speaker 2: loathe them, but it's also why so many New Zealand 326 00:17:00,400 --> 00:17:04,880 Speaker 2: love him. He just says yes, he doesn't say no. 327 00:17:05,240 --> 00:17:09,480 Speaker 2: Christopher Luxe must be so jealous, dickens net. Migration in 328 00:17:09,520 --> 00:17:14,320 Speaker 2: the UK is going to swell the population to seventy 329 00:17:14,400 --> 00:17:17,480 Speaker 2: two point five million in the next seven years. That's 330 00:17:17,680 --> 00:17:21,199 Speaker 2: another ten million people coming to live in Britain. Long term, 331 00:17:21,480 --> 00:17:23,480 Speaker 2: that's going to have an impact. We'll talk about that 332 00:17:23,520 --> 00:17:26,520 Speaker 2: with Gail Downey in just a few mothers time, and 333 00:17:26,600 --> 00:17:28,480 Speaker 2: we'll go right around the country. This is early edition. 334 00:17:28,520 --> 00:17:30,000 Speaker 2: I'm Andrew Dickens. Good morning. 335 00:17:31,119 --> 00:17:36,400 Speaker 1: Look the news you need this morning and the in 336 00:17:36,440 --> 00:17:40,480 Speaker 1: depth analysis Early Edition with Andrew Dickens and one roof 337 00:17:40,680 --> 00:17:44,000 Speaker 1: Make your Property Search Simple, News Talk Sippy. 338 00:17:49,080 --> 00:18:00,959 Speaker 2: Everybody. Good morning, Jar, welcome back. I'm Andrew Dickins. I'm 339 00:18:01,000 --> 00:18:04,280 Speaker 2: here for a while because Heather had a baby and 340 00:18:04,320 --> 00:18:06,520 Speaker 2: that just has impacts all the way down the line. 341 00:18:06,560 --> 00:18:08,440 Speaker 2: So I hope you enjoyed the program. Thank you so much. 342 00:18:08,440 --> 00:18:11,520 Speaker 2: You can text me ninety two ninety two. Ben has 343 00:18:11,560 --> 00:18:13,439 Speaker 2: just texted and said New Zealand had a Trump government 344 00:18:13,480 --> 00:18:15,359 Speaker 2: last election cycle and look where that got us. So 345 00:18:15,440 --> 00:18:18,359 Speaker 2: this is true enough. The absolute majority, the total power. 346 00:18:18,800 --> 00:18:20,840 Speaker 2: I mean, you're either really left or you're really right, 347 00:18:20,960 --> 00:18:23,440 Speaker 2: or you're really crazy. And what was that old saying 348 00:18:23,920 --> 00:18:29,040 Speaker 2: power corrupts, Absolute power corrupts absolutely. Donald Trump has the power, 349 00:18:29,400 --> 00:18:32,119 Speaker 2: and that's for sure. Christopher Luxan does not have the power. 350 00:18:33,200 --> 00:18:35,000 Speaker 2: Today as the first day of the Year of the Snake, 351 00:18:35,520 --> 00:18:38,000 Speaker 2: the Year of the Snake in Chinese culture, the snake 352 00:18:38,080 --> 00:18:42,120 Speaker 2: is a symbol of wisdom, mystery, and elegance. The Year 353 00:18:42,160 --> 00:18:46,080 Speaker 2: of the Snake is a time for renewal and adaptability. 354 00:18:46,280 --> 00:18:48,520 Speaker 2: People born in the Year of the Snake are said 355 00:18:48,520 --> 00:18:53,000 Speaker 2: to be mysterious and charming and intuitive, and people born 356 00:18:53,040 --> 00:18:55,520 Speaker 2: in the Year of the snake apparently get on with 357 00:18:55,680 --> 00:19:01,400 Speaker 2: people born as oxes and roosters. How does a snake 358 00:19:01,440 --> 00:19:04,959 Speaker 2: get on with a rooster? Myself personally, I'm a year 359 00:19:05,000 --> 00:19:05,480 Speaker 2: of the rabbit. 360 00:19:05,760 --> 00:19:06,240 Speaker 5: Apparently. 361 00:19:06,240 --> 00:19:07,880 Speaker 2: People born in the Year of the Rabbit are said 362 00:19:07,920 --> 00:19:13,760 Speaker 2: to be lucky, calm, peaceful, artistic and elegant. I don't 363 00:19:13,760 --> 00:19:16,119 Speaker 2: believe any of this poppy cock, by the way, but 364 00:19:16,200 --> 00:19:18,520 Speaker 2: what I do believe in. What I do like is 365 00:19:18,600 --> 00:19:21,400 Speaker 2: Chinese food, lanterns and fireworks, and that's happening for a month, 366 00:19:21,440 --> 00:19:22,120 Speaker 2: So bring it on. 367 00:19:23,000 --> 00:19:27,399 Speaker 8: Andrew Dickens twenty two to sixis go around New Zealand, 368 00:19:27,440 --> 00:19:30,399 Speaker 8: Calum Proctor from dnaeding Good morning to you morning Andrew, 369 00:19:31,960 --> 00:19:34,640 Speaker 8: on another pathway to becoming a Third World See all 370 00:19:34,760 --> 00:19:36,639 Speaker 8: roads are on route to become a luxury In the 371 00:19:36,680 --> 00:19:37,640 Speaker 8: South Island. 372 00:19:38,600 --> 00:19:41,119 Speaker 9: It turns out it's this case in South On the 373 00:19:41,119 --> 00:19:44,560 Speaker 9: District Council there will today consider whether it's a revert 374 00:19:44,680 --> 00:19:49,879 Speaker 9: sections of three roads back to gravel Look. South And 375 00:19:49,920 --> 00:19:52,320 Speaker 9: has the second largest road network in New Zealand, but 376 00:19:52,560 --> 00:19:56,199 Speaker 9: a small ratepayer base and that force of sacrifices to 377 00:19:56,200 --> 00:20:00,680 Speaker 9: be made after they failed secure enough government cash. A 378 00:20:00,760 --> 00:20:03,160 Speaker 9: staff reports says the cash shortfall in the National Land 379 00:20:03,160 --> 00:20:05,920 Speaker 9: Transport Plan means levels of service needs to be reduced 380 00:20:06,400 --> 00:20:10,040 Speaker 9: at states the cost of maintaining Southland's two thousand kilometers 381 00:20:10,040 --> 00:20:13,760 Speaker 9: of sealed roads is unsustainable without further investment. 382 00:20:13,960 --> 00:20:16,160 Speaker 2: How's your weather got light? 383 00:20:16,280 --> 00:20:19,680 Speaker 9: Rain clearing to find spells for end of Cargol adonitin 384 00:20:19,720 --> 00:20:22,480 Speaker 9: this morning gale Northwest as as well du led Inside 385 00:20:22,520 --> 00:20:23,919 Speaker 9: twenty three and for Cargol eighteen. 386 00:20:24,359 --> 00:20:26,520 Speaker 2: Very good stuff. And now we go to christ Rich 387 00:20:26,600 --> 00:20:28,080 Speaker 2: Claire Sherwood, good morning to you. 388 00:20:28,520 --> 00:20:29,199 Speaker 10: Good morning. 389 00:20:29,320 --> 00:20:31,919 Speaker 2: Christchurch's mayor is officially in campaign mode. I thought he 390 00:20:31,960 --> 00:20:34,119 Speaker 2: was that doing that when he'd got the tow truck out. 391 00:20:34,440 --> 00:20:35,440 Speaker 2: Oh well no, he. 392 00:20:35,400 --> 00:20:37,800 Speaker 10: Says that was not a stunt. Andrew, You've got to 393 00:20:37,800 --> 00:20:40,199 Speaker 10: be clear about this. Look film Major says he has 394 00:20:40,280 --> 00:20:43,320 Speaker 10: unfinished business in the city and that's the reason behind 395 00:20:43,359 --> 00:20:45,959 Speaker 10: his bid for reelection. He has confirmed be seeking out 396 00:20:46,000 --> 00:20:48,840 Speaker 10: another term come October. Of course, that announcement came a 397 00:20:48,840 --> 00:20:52,359 Speaker 10: few days earlier than planned, when we, among others, noticed 398 00:20:52,400 --> 00:20:55,440 Speaker 10: that his website had gone live a bit earlier than planned. 399 00:20:55,680 --> 00:20:58,800 Speaker 10: He'll be up against a third term city councilor, Sarah Templeton. 400 00:20:58,920 --> 00:21:01,920 Speaker 10: She's the only other content is so far. Mayor says 401 00:21:01,960 --> 00:21:04,600 Speaker 10: he disagrees with anyone who says the Garden City needs 402 00:21:04,640 --> 00:21:08,080 Speaker 10: a change in leadership, which would undoubtedly lead to larger 403 00:21:08,200 --> 00:21:11,320 Speaker 10: rate increases according to film major. He says the city 404 00:21:11,359 --> 00:21:14,240 Speaker 10: council has to work on reducing its costs and getting 405 00:21:14,280 --> 00:21:15,760 Speaker 10: some basic commitments right. 406 00:21:16,119 --> 00:21:17,080 Speaker 2: Very good and how's your weather? 407 00:21:17,600 --> 00:21:19,600 Speaker 10: A bit cloudy today? There is a period of light 408 00:21:19,680 --> 00:21:21,919 Speaker 10: rain expected and the chance of some showers by evening. 409 00:21:22,200 --> 00:21:24,760 Speaker 10: Northwesterly is turning easterly, a high of fourteen. 410 00:21:24,920 --> 00:21:27,119 Speaker 2: Okay, Srewood, I thank you. Max Toll joins with me 411 00:21:27,200 --> 00:21:30,399 Speaker 2: from Wellington Morning, Max, Good morning. Got a couple of 412 00:21:30,400 --> 00:21:31,639 Speaker 2: bad dairy smashing grabs? 413 00:21:32,080 --> 00:21:34,480 Speaker 11: Yeah, there was a police chase in fact through Upper 414 00:21:34,520 --> 00:21:38,160 Speaker 11: Hut yesterday morning. Some kids not back in school apparently 415 00:21:38,200 --> 00:21:42,280 Speaker 11: for youths had apparently robbed a a dairy on Akatallawa Road. 416 00:21:42,320 --> 00:21:46,399 Speaker 11: Their car was picked up later when they actually smashed 417 00:21:46,440 --> 00:21:48,280 Speaker 11: into a member of the public's car at the Silver 418 00:21:48,359 --> 00:21:52,440 Speaker 11: Stream Bridge. Those kids taken into custody. Thankfully no one 419 00:21:52,520 --> 00:21:57,359 Speaker 11: was hurt. Another dairy as well yesterday Patel's superratt in 420 00:21:57,600 --> 00:22:01,320 Speaker 11: Ardore Valley was broken into yesterday morning a similar time. 421 00:22:01,400 --> 00:22:05,719 Speaker 11: Police not saying whether the two robberies or attempted robberies 422 00:22:05,760 --> 00:22:08,760 Speaker 11: are related. And that's on Idol Street, sort of opposite 423 00:22:08,760 --> 00:22:11,160 Speaker 11: the Garage Project tap room. Quite a nice part of town. 424 00:22:11,680 --> 00:22:12,760 Speaker 11: Police investigating. 425 00:22:13,200 --> 00:22:13,560 Speaker 2: Very good. 426 00:22:13,560 --> 00:22:16,600 Speaker 11: How to your weather, parley cloudy for much of the 427 00:22:16,680 --> 00:22:20,200 Speaker 11: day's strong winds and northerlys. The high twenty in the CBD. 428 00:22:20,560 --> 00:22:22,720 Speaker 2: Hello Neva Retamanu, Good morning Andrew. 429 00:22:22,920 --> 00:22:23,639 Speaker 5: Should I see you? 430 00:22:24,000 --> 00:22:25,960 Speaker 2: Lovely to see you. They found a little bird, very 431 00:22:26,080 --> 00:22:28,560 Speaker 2: very rare on the tip of the fung Apa Peninsula. 432 00:22:28,720 --> 00:22:29,359 Speaker 2: That's right, they have. 433 00:22:29,640 --> 00:22:33,679 Speaker 12: So what we know is that this rare bird species thriving, 434 00:22:33,840 --> 00:22:36,600 Speaker 12: thriving at the regional park there in Funga Padola at 435 00:22:36,680 --> 00:22:40,240 Speaker 12: least fifty five he heat or stitch bood chicks. Now 436 00:22:40,280 --> 00:22:43,800 Speaker 12: that've hetch This is at Shakespeare Regional Park's open sanctuary. 437 00:22:43,960 --> 00:22:45,720 Speaker 12: This has happened this summer. Have you been out there? 438 00:22:45,920 --> 00:22:49,120 Speaker 2: Oh yeah, oh right, I haven't lovely. It's amazing. 439 00:22:49,440 --> 00:22:51,919 Speaker 12: Really well, we must make that little weed trip. I 440 00:22:51,920 --> 00:22:53,600 Speaker 12: think the last time I was out in funk Padora 441 00:22:53,880 --> 00:22:56,919 Speaker 12: was five years old. I need to get out more so. Anyway, 442 00:22:56,920 --> 00:22:58,439 Speaker 12: this is the first with the species in more than 443 00:22:58,480 --> 00:23:01,040 Speaker 12: one hundred years and obviously the offspring of a group 444 00:23:01,080 --> 00:23:03,640 Speaker 12: of about forty adult he he Now they were moved 445 00:23:03,640 --> 00:23:06,880 Speaker 12: from the nearby Titdy Titty Martini item last June, so 446 00:23:07,160 --> 00:23:09,640 Speaker 12: it's thought. Apparently there are just two thousand he heat 447 00:23:09,680 --> 00:23:11,920 Speaker 12: in the entire country, so this is pretty cool. 448 00:23:12,000 --> 00:23:13,760 Speaker 2: Go the he heat, go the he heat. How's the 449 00:23:13,760 --> 00:23:14,480 Speaker 2: weather aha? 450 00:23:14,520 --> 00:23:18,000 Speaker 12: Okay, partly cloudy, isolated showers twenty fours a high today 451 00:23:18,000 --> 00:23:18,600 Speaker 12: here in Auckland. 452 00:23:18,760 --> 00:23:20,040 Speaker 2: E rect to matter way, thank you so much for 453 00:23:20,040 --> 00:23:21,960 Speaker 2: it's now eighteen minutes to Sex to see. I just 454 00:23:21,960 --> 00:23:24,760 Speaker 2: got an email for some reason from somebody who does 455 00:23:24,800 --> 00:23:29,480 Speaker 2: research and has come up with Britain's cigarette spending habits. Apparently, 456 00:23:29,520 --> 00:23:32,240 Speaker 2: the average Britt smokes ten point six cigarettes per day 457 00:23:32,600 --> 00:23:35,440 Speaker 2: costs an average of forty nine eighty that's forty nine 458 00:23:35,520 --> 00:23:39,240 Speaker 2: quid eighty a week or two hundred and sixteen pounds 459 00:23:39,280 --> 00:23:41,960 Speaker 2: a month, or two and a half thousand pounds a year. 460 00:23:42,240 --> 00:23:44,719 Speaker 2: Ten cigarettes per day for ten years would cost your 461 00:23:44,720 --> 00:23:49,880 Speaker 2: average brit twenty five actually twenty six thousand pounds over 462 00:23:49,920 --> 00:23:53,960 Speaker 2: twenty five years, sixty five thousand pounds, and that's ten 463 00:23:54,320 --> 00:23:57,879 Speaker 2: a day. I have a shameful admission to make. I 464 00:23:57,920 --> 00:24:01,320 Speaker 2: bought a pack of cigarettes over the Christmas given up. 465 00:24:01,359 --> 00:24:03,640 Speaker 2: I've been given up for eight years. But I thought, i'd, 466 00:24:03,800 --> 00:24:06,439 Speaker 2: you know, just treat myself. And I walked and I 467 00:24:06,440 --> 00:24:07,960 Speaker 2: got a packet of twenty five and it was forty 468 00:24:08,000 --> 00:24:12,240 Speaker 2: eight bucks. Guess what. I've given up cigarette smoking again. 469 00:24:13,160 --> 00:24:15,400 Speaker 2: Gale Downy from the UK is next to seventeen to. 470 00:24:15,359 --> 00:24:20,520 Speaker 1: Six international correspondence with ins and Eye Insurance, Peace of 471 00:24:20,560 --> 00:24:23,720 Speaker 1: Mind for New Zealand Business. 472 00:24:23,080 --> 00:24:25,080 Speaker 2: Fourteen to six to the UK. We go and Gale 473 00:24:25,080 --> 00:24:28,800 Speaker 2: down And joins us all a Gale, Hello Andrew well 474 00:24:28,920 --> 00:24:32,000 Speaker 2: net Migration is increasing the population to seventy two and 475 00:24:32,040 --> 00:24:33,800 Speaker 2: a half million in the next seven years. That's a 476 00:24:33,840 --> 00:24:35,480 Speaker 2: next to ten million people. You're booming. 477 00:24:36,880 --> 00:24:39,280 Speaker 13: We are booming and the projective figures come from the 478 00:24:39,320 --> 00:24:43,679 Speaker 13: Office of National Statistics which also reveal almost five million 479 00:24:43,680 --> 00:24:47,080 Speaker 13: people are leaving the country to live elsewhere, so that's 480 00:24:47,119 --> 00:24:50,680 Speaker 13: ten million in and five million out. The government says 481 00:24:50,720 --> 00:24:53,880 Speaker 13: it wants to bring down the staggeringly high levels of migration, 482 00:24:54,240 --> 00:24:56,639 Speaker 13: but it won't put an arbitrary cap on the numbers 483 00:24:56,680 --> 00:25:00,760 Speaker 13: of people coming in. England is expected have the highest 484 00:25:00,800 --> 00:25:04,359 Speaker 13: number of immigrants, with Northern Ireland the lowest. The number 485 00:25:04,359 --> 00:25:07,159 Speaker 13: of births and deaths between twenty twenty two and twenty 486 00:25:07,240 --> 00:25:10,359 Speaker 13: thirty two is expected to be equal, but there will 487 00:25:10,400 --> 00:25:14,359 Speaker 13: be one point seven million more pensioners now. Concern has 488 00:25:14,400 --> 00:25:17,760 Speaker 13: been raised by opposition MPs. The Shadow Home Secretary Chris 489 00:25:17,760 --> 00:25:20,800 Speaker 13: Philip so the number immigrating long term to the UK 490 00:25:21,000 --> 00:25:24,840 Speaker 13: was shocking and unacceptable. A government spokesperson said they would 491 00:25:24,840 --> 00:25:28,800 Speaker 13: link immigration skills and visas to grow the domestic workforce 492 00:25:29,200 --> 00:25:33,000 Speaker 13: and end the reliance on overseas labor and boost economic growth. 493 00:25:33,119 --> 00:25:34,360 Speaker 2: Have you got enough houses? 494 00:25:36,160 --> 00:25:38,080 Speaker 13: Well, that's the big thing. And of course at the 495 00:25:38,080 --> 00:25:42,320 Speaker 13: moment the government is looking at how ways of encouraging 496 00:25:42,359 --> 00:25:45,919 Speaker 13: developers to build more houses, which is fine except that 497 00:25:46,000 --> 00:25:50,040 Speaker 13: many people don't want the houses in their backyard. 498 00:25:50,560 --> 00:25:55,240 Speaker 2: No kidding, all right. So the AMAB bombing in Northern Ireland, 499 00:25:55,280 --> 00:25:56,080 Speaker 2: when did that happen? 500 00:25:57,680 --> 00:26:05,800 Speaker 13: Oh, that was back in ninety in eighty eight, forgiveness figured. 501 00:26:05,720 --> 00:26:08,440 Speaker 2: The last interest, so quite a way away. 502 00:26:09,680 --> 00:26:13,119 Speaker 13: Before the peace Sorry O, apologies. It was actually before 503 00:26:13,240 --> 00:26:18,000 Speaker 13: the Good Friday Agreement, which is it was just after 504 00:26:18,080 --> 00:26:22,000 Speaker 13: the Good Friday Agreement, which was the signing of a 505 00:26:22,040 --> 00:26:25,120 Speaker 13: peace deal which brought to an end decades of violence 506 00:26:25,240 --> 00:26:28,520 Speaker 13: known as the Troubles. So it was just you know, say, 507 00:26:28,520 --> 00:26:30,240 Speaker 13: it was four months after that was signed. 508 00:26:30,359 --> 00:26:33,120 Speaker 2: So with having acquire an inquiry, an awful long time 509 00:26:33,160 --> 00:26:34,800 Speaker 2: after the fact that you have to say, we're having 510 00:26:34,840 --> 00:26:37,200 Speaker 2: an inquiry into the bombing in Northern Ireland. It killed 511 00:26:37,200 --> 00:26:39,440 Speaker 2: twenty nine people and the attack was under the real 512 00:26:40,200 --> 00:26:42,400 Speaker 2: it was the worst atrostity of the Troubles. What can 513 00:26:42,440 --> 00:26:46,159 Speaker 2: we report from today. 514 00:26:44,880 --> 00:26:48,240 Speaker 13: Well, what we know today is that two Spanish students 515 00:26:48,320 --> 00:26:51,240 Speaker 13: were killed in the bombing. They've been visiting the town 516 00:26:51,280 --> 00:26:55,000 Speaker 13: of Omar on a language exchange group and written testimony 517 00:26:55,119 --> 00:26:57,800 Speaker 13: was heard from the families giving a bit of background 518 00:26:57,840 --> 00:27:01,679 Speaker 13: about them, about their personalities. We know that family members 519 00:27:01,720 --> 00:27:04,639 Speaker 13: of other victims are expected to give evidence either in 520 00:27:04,720 --> 00:27:08,280 Speaker 13: person or through their lawyers during the four week hearing. 521 00:27:08,880 --> 00:27:10,960 Speaker 13: And as you mentioned, it's been a long time since 522 00:27:11,040 --> 00:27:16,160 Speaker 13: that happened. To now an inquiry is to determine whether 523 00:27:16,200 --> 00:27:19,320 Speaker 13: the bombing could have been prevented, and the handling and 524 00:27:19,440 --> 00:27:23,240 Speaker 13: sharing of intelligence at the time by state authorities. 525 00:27:24,000 --> 00:27:26,240 Speaker 2: Very good stuff, Gail Downey, I thank you so much. 526 00:27:26,280 --> 00:27:28,000 Speaker 2: That is Gail Downey reporting for us out of the 527 00:27:28,080 --> 00:27:30,359 Speaker 2: United Kingdom and the time right now is eleven to six. 528 00:27:31,080 --> 00:27:34,120 Speaker 2: Andrew dickens Privatization is the hot word of the day 529 00:27:34,119 --> 00:27:37,320 Speaker 2: and Prime Minister Christopher Luxen has floated taking esset sales 530 00:27:37,400 --> 00:27:41,320 Speaker 2: and privatization and asset recycling to nixt year's election to 531 00:27:41,359 --> 00:27:44,280 Speaker 2: get a mandate. He said this just days after ECC 532 00:27:44,359 --> 00:27:47,000 Speaker 2: leader David Seymour suggested the idea during the State of 533 00:27:47,040 --> 00:27:50,960 Speaker 2: the Nation speech. We're all talking privatization. Treasury has pointed 534 00:27:51,000 --> 00:27:54,399 Speaker 2: to some government agencies that aren't performing as well as 535 00:27:54,440 --> 00:27:58,040 Speaker 2: they should. We're looking at UQV and this they could 536 00:27:58,080 --> 00:28:00,840 Speaker 2: potentially be the first to be sold off. So Infrastructure 537 00:28:00,840 --> 00:28:03,280 Speaker 2: in New Zealand Chief Executive Nick Leggan joins me now 538 00:28:03,320 --> 00:28:07,000 Speaker 2: on the program. Hello Nick, Hello, in your opinion, how 539 00:28:07,000 --> 00:28:09,000 Speaker 2: would the economy benefit from asset sales? 540 00:28:10,400 --> 00:28:12,639 Speaker 5: Well, how is the country benefit? And I think what 541 00:28:12,680 --> 00:28:15,880 Speaker 5: we've got to do is take this discussion back a bit, 542 00:28:16,640 --> 00:28:20,520 Speaker 5: because it's not just about howking off assets and running 543 00:28:20,520 --> 00:28:24,320 Speaker 5: away with the money. It's about what can you sensibly 544 00:28:25,080 --> 00:28:27,800 Speaker 5: build if you release funds in a different way, and 545 00:28:27,880 --> 00:28:31,280 Speaker 5: so that whole I think the idea of asset partnerships, 546 00:28:31,320 --> 00:28:34,000 Speaker 5: asset recycling, where the government takes a look at it, 547 00:28:34,280 --> 00:28:37,080 Speaker 5: all the asset assets it owns and says, right, we 548 00:28:37,119 --> 00:28:38,960 Speaker 5: can release the money here. We could perhaps have a 549 00:28:39,040 --> 00:28:42,760 Speaker 5: joint ownership with the private sector and we're going to 550 00:28:42,800 --> 00:28:47,360 Speaker 5: build a school, a hospital, a light rail or a road. 551 00:28:48,320 --> 00:28:50,760 Speaker 5: And this is how New Zealander's lives are going to 552 00:28:50,800 --> 00:28:52,880 Speaker 5: be improved and how the economy is going to be 553 00:28:52,920 --> 00:28:56,080 Speaker 5: improved for the long term. New South Wales did this. 554 00:28:56,520 --> 00:28:58,920 Speaker 5: It was taken to the state election I think about 555 00:28:58,920 --> 00:29:02,360 Speaker 5: twelve years ago and it was sold to the electorate 556 00:29:02,760 --> 00:29:07,280 Speaker 5: and surprise, surprise, there was actually I don't say that 557 00:29:07,320 --> 00:29:10,240 Speaker 5: in any sarcastic way, but actually the government, the state 558 00:29:10,280 --> 00:29:13,320 Speaker 5: government delivered and you're still seeing the benefit of that 559 00:29:13,400 --> 00:29:17,400 Speaker 5: and the regeneration of Sydney, of regional New South Wales. 560 00:29:17,400 --> 00:29:19,600 Speaker 5: If you think about the light rail and those really 561 00:29:19,640 --> 00:29:26,360 Speaker 5: exciting public spaces in central Sydney, associated uplifted housing and 562 00:29:26,440 --> 00:29:31,240 Speaker 5: other economic improvements, all that happened because the state said, 563 00:29:31,280 --> 00:29:33,960 Speaker 5: how can we better use our balance sheet for the 564 00:29:34,000 --> 00:29:38,600 Speaker 5: benefit of social and economic progress. And that's the discussion 565 00:29:38,760 --> 00:29:42,240 Speaker 5: this country has to have. It's not about this binary 566 00:29:42,400 --> 00:29:44,680 Speaker 5: yes we should sell or no we shouldn't sell an asset. 567 00:29:44,760 --> 00:29:49,360 Speaker 5: It's what that improves for people and jobs and growth 568 00:29:49,960 --> 00:29:53,280 Speaker 5: over the long term. And that's the question New Zealand 569 00:29:53,280 --> 00:29:57,040 Speaker 5: needs to ask itself. We are slipping behind internationally. The 570 00:29:57,080 --> 00:30:00,760 Speaker 5: amount of money that we earn from exports is pales 571 00:30:00,800 --> 00:30:05,200 Speaker 5: in comparison to some countries of similar size in the OECD. 572 00:30:05,760 --> 00:30:08,200 Speaker 5: We know we've got to kick start our education and 573 00:30:08,280 --> 00:30:12,120 Speaker 5: health systems if we want to retain the kind of 574 00:30:12,200 --> 00:30:15,400 Speaker 5: country that I think probably people have come to expect. 575 00:30:15,800 --> 00:30:17,760 Speaker 5: And it's about doing things differently. 576 00:30:17,560 --> 00:30:20,160 Speaker 2: Okay, and of course everyone goes well overseas capital. But 577 00:30:20,240 --> 00:30:22,480 Speaker 2: of course there is a possibility of Kiwisaber or the 578 00:30:22,480 --> 00:30:25,680 Speaker 2: New Zealand Superfund or any New Zealand. 579 00:30:26,200 --> 00:30:29,000 Speaker 5: Groups EWE groups. Look, this doesn't have to be This 580 00:30:29,080 --> 00:30:32,160 Speaker 5: is not about a foreign grab. The other point about 581 00:30:32,200 --> 00:30:37,800 Speaker 5: it is we have a pitiful reputation and record of 582 00:30:37,960 --> 00:30:42,440 Speaker 5: managing the assets we actually build and own. Look at roads, 583 00:30:42,480 --> 00:30:45,040 Speaker 5: look at schools, look at hospitals. When you get some 584 00:30:45,280 --> 00:30:49,760 Speaker 5: private sector discipline into these assets, you actually improve that 585 00:30:50,000 --> 00:30:54,440 Speaker 5: long term life because you can build maintenance and renewal 586 00:30:54,720 --> 00:30:56,480 Speaker 5: into the contracts. 587 00:30:56,600 --> 00:30:58,520 Speaker 2: The problem, I say, the problem though, Nick, is, of 588 00:30:58,520 --> 00:31:00,440 Speaker 2: course everyone looks at Kiwi Rail where we sold it 589 00:31:00,480 --> 00:31:02,280 Speaker 2: and then they stripped it and then and then we 590 00:31:02,280 --> 00:31:04,280 Speaker 2: had to buy it back, and they think, well, that's so. 591 00:31:04,400 --> 00:31:07,920 Speaker 2: Sometimes it's not that private is always perfect. But you know, hey, 592 00:31:08,160 --> 00:31:10,720 Speaker 2: but he's. 593 00:31:09,560 --> 00:31:12,120 Speaker 5: Going with your eyes wide open, Andrew, you can build 594 00:31:12,200 --> 00:31:16,160 Speaker 5: those sort of things and protect the asset and build 595 00:31:16,240 --> 00:31:19,480 Speaker 5: long term maintenance and prevent assets stripping in the contracts 596 00:31:19,480 --> 00:31:23,080 Speaker 5: that you're right that these things are you can overcome them. 597 00:31:23,120 --> 00:31:26,040 Speaker 5: And I just think we need to really ask ourselves 598 00:31:26,040 --> 00:31:28,120 Speaker 5: the kind of country that we want to build and become. 599 00:31:28,240 --> 00:31:30,880 Speaker 5: What are we building towards, and then we can decide 600 00:31:30,920 --> 00:31:33,400 Speaker 5: how we deliver that. Because we can't keep writing checks 601 00:31:33,760 --> 00:31:37,000 Speaker 5: that the public can't cash. We have to think of 602 00:31:37,040 --> 00:31:39,480 Speaker 5: different ways of funding things. And it's all it's not 603 00:31:39,520 --> 00:31:42,840 Speaker 5: about selling everything and building in this way. It's about 604 00:31:42,960 --> 00:31:45,720 Speaker 5: can we do things better in some areas? And I 605 00:31:45,760 --> 00:31:48,920 Speaker 5: think a more balanced approach one that where people understand 606 00:31:49,000 --> 00:31:51,440 Speaker 5: what we're going to actually get recognizing that when you 607 00:31:51,480 --> 00:31:53,680 Speaker 5: sell something, you've actually still got to service the cost. 608 00:31:53,760 --> 00:31:56,920 Speaker 5: So it's not this perfect, wonderful world. We have to 609 00:31:56,960 --> 00:31:58,400 Speaker 5: ask ourselves these questions. 610 00:31:58,600 --> 00:32:00,560 Speaker 2: Nick, I thank you so much for your today. Neck 611 00:32:00,680 --> 00:32:04,400 Speaker 2: is the infrastructure of New Zealand CEO. Remember the government apparently 612 00:32:04,440 --> 00:32:06,480 Speaker 2: we'll be seeking a mandate in twenty twenty seven, So 613 00:32:06,880 --> 00:32:11,480 Speaker 2: this is not something that's happening tomorrow. This it's now 614 00:32:11,520 --> 00:32:13,840 Speaker 2: what seven to six, and you can hear the thump again, 615 00:32:13,880 --> 00:32:15,600 Speaker 2: the bumping because the man is in the studio. 616 00:32:16,600 --> 00:32:19,520 Speaker 1: The first word on the News of the Day early 617 00:32:19,680 --> 00:32:22,840 Speaker 1: edition with Andrew Dickens and one Room to make your 618 00:32:22,920 --> 00:32:25,800 Speaker 1: property surge and simple you talk, zippy. 619 00:32:27,600 --> 00:32:32,400 Speaker 14: Mike Hosking, Welcome, well greetings. I was going to say, 620 00:32:32,440 --> 00:32:35,720 Speaker 14: if you read Richard Prebble's piece this morning this morning, 621 00:32:35,800 --> 00:32:40,000 Speaker 14: you should because it's, first of all, I'm perplexed about 622 00:32:40,040 --> 00:32:44,760 Speaker 14: this sale of stuff. It's not happening. No, there's no one. 623 00:32:44,880 --> 00:32:48,120 Speaker 14: It's not a gender. It's that this government's going to 624 00:32:48,200 --> 00:32:49,960 Speaker 14: you know what I'm saying, And so it's we've got 625 00:32:50,000 --> 00:32:52,480 Speaker 14: more important things to think about at the moment. 626 00:32:52,560 --> 00:32:54,560 Speaker 2: I would argue, but there are fans of the economic 627 00:32:54,600 --> 00:32:56,840 Speaker 2: growth that it may provide, which says this is all 628 00:32:56,920 --> 00:32:58,240 Speaker 2: part of what the Prime minister wants. 629 00:32:58,280 --> 00:33:00,680 Speaker 14: Well, that's good and while we said and around, if 630 00:33:00,720 --> 00:33:03,120 Speaker 14: he wants that, then he'll argue it in a year 631 00:33:03,160 --> 00:33:04,600 Speaker 14: and a half's time when we go to the election, 632 00:33:04,680 --> 00:33:06,520 Speaker 14: make it part of the campaign and that will be fantastic, 633 00:33:06,560 --> 00:33:08,600 Speaker 14: will have that debate in the meantime. I remember I 634 00:33:08,640 --> 00:33:10,800 Speaker 14: was working at TV and Z when when they were 635 00:33:10,840 --> 00:33:13,400 Speaker 14: going to get sold off, and that was under the 636 00:33:13,400 --> 00:33:16,080 Speaker 14: Shipley Bulger government and everything was being primed up and 637 00:33:16,080 --> 00:33:17,480 Speaker 14: we were going to get see TV and Z in 638 00:33:17,520 --> 00:33:20,479 Speaker 14: those days was worth they thought several hundred million dollars. 639 00:33:21,320 --> 00:33:24,640 Speaker 14: These days what he reckon's worth thirty seven cents for parts. 640 00:33:24,320 --> 00:33:25,640 Speaker 2: I was I was going to say twenty. 641 00:33:25,760 --> 00:33:28,360 Speaker 14: So what have we got that we would sell that's 642 00:33:28,400 --> 00:33:30,320 Speaker 14: actually valuable because when they took about half a trillion 643 00:33:30,320 --> 00:33:31,480 Speaker 14: dollars worth of assets, you're talking. 644 00:33:31,320 --> 00:33:32,920 Speaker 2: About roads and courtlands. 645 00:33:33,000 --> 00:33:35,320 Speaker 14: Yeah, but I mean, okay, see you sell off some farms, good, 646 00:33:35,360 --> 00:33:35,760 Speaker 14: what else? 647 00:33:35,960 --> 00:33:37,080 Speaker 2: You know, there's nothing left? 648 00:33:37,520 --> 00:33:39,440 Speaker 14: You know what I'm saying. I mean that you're not 649 00:33:39,480 --> 00:33:42,800 Speaker 14: selling hospitals, you're not selling roads, and those are the assets. 650 00:33:42,840 --> 00:33:45,440 Speaker 2: So can I ask you a very important question. As 651 00:33:45,480 --> 00:33:47,920 Speaker 2: the rubbish bin in the correct position, it's well. 652 00:33:47,720 --> 00:33:51,240 Speaker 14: It's certainly that. Just where do you want with an 653 00:33:51,240 --> 00:33:55,680 Speaker 14: easy reach, with a gentle reach, it's clean, don't move it. Well, 654 00:33:55,720 --> 00:33:57,920 Speaker 14: I cleaned it. The reason it's clean is I cleaned it. 655 00:33:57,960 --> 00:33:58,840 Speaker 2: I cleaned it on Monday. 656 00:33:59,000 --> 00:33:59,600 Speaker 6: Did you. 657 00:34:01,560 --> 00:34:01,920 Speaker 7: For more? 658 00:34:01,960 --> 00:34:05,320 Speaker 1: Fam earlier edition with Ryan Bridge. Listen live to Newstalk 659 00:34:05,360 --> 00:34:09,640 Speaker 1: SETB from five am weekdays, or follow the podcast on iHeartRadio.