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Speaker 1: The issues, the interviews and the inside Ryan Bridge you

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Speaker 1: for twenty twenty four on the early edition with Smith City,

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Speaker 1: New Zealand's furniture Beds and a play a store news Dogs.

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Speaker 2: It'd be good morning.

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Speaker 3: It is six half to five. It is Wednesday, the

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Speaker 3: seventh of August. I'm Ryan Bridge. Great to have your company.

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Speaker 3: Keep in touch this morning. Nine two nine two is

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Speaker 3: the number to text Big Day four mortgage holders today

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Speaker 3: if you have one. Basically, are enough people out of

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Speaker 3: work to force the ocr down thereby taking the pressure

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Speaker 3: off your mortgage interest rate. Essentially what we're looking at today.

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Speaker 3: And we've got Mark Smith, the ASB senior economist on

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Speaker 3: the show just before six. What is the magic number

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Speaker 3: from the jobs started today? We will find that out.

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Speaker 3: Also this morning, Tim Walls or Waltz. We think it's

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Speaker 3: Tim Waltz. Who the hell is this guy? He's just

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Speaker 3: been picked by Kamala Harris to be her vice presidential nominee,

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Speaker 3: herrunning mate, and this election will look a little bit

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Speaker 3: at his history. Who this man is and what he

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Speaker 3: stands for, and also what Trump is saying about him already.

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Speaker 3: Also this morning, Chinese swimmers being accused of doping nothing

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Speaker 3: new there. China says, we're squeaky clean.

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Speaker 4: The agenda.

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Speaker 3: This gone seven after five. It's Wednesday, the seventh of August.

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Speaker 3: US Democratic presidential nominee and current Vice President Krmla Harris

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Speaker 3: has selected her running mate for the November election. Minnesota

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Speaker 3: Governor Tim Waltz will run alongside Harris. In two thousand

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Speaker 3: and six, he was elected as a House representative for Minnesota,

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Speaker 3: becoming the governor in twenty nineteen. He had previously served

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Speaker 3: in the Army National Guard and was a high school teacher.

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Speaker 3: Analysts believe he could be the right person for the job.

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Speaker 5: This guy comes out of nowhere.

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Speaker 6: Two weeks ago, nobody even knew his name, and he lit.

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Speaker 5: Up the grassroots, he lit up the Internet.

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Speaker 3: Harris and Waltz are expected to speak together publicly for

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Speaker 3: the first time. Tom Bangladesh has dissolved its parliament, just

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Speaker 3: a day after its prime minister stood down and fled

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Speaker 3: the country. It's seen weeks of violent protests, with one

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Speaker 3: hundreds killed. Just hours before the announcement, the student protest

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Speaker 3: leaders who kicked this whole thing off promised more action

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Speaker 3: if parliament wasn't dissolved. Our rental market's far from where

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Speaker 3: it needs to be to support an aging population. A

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Speaker 3: Retirement Commission report reveals due to declining home ownership, more

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Speaker 3: people will be renting into older age Oh so you

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Speaker 3: mean we need landlords now, do you? Has found that

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Speaker 3: more than six hundred thousand people over the age of

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Speaker 3: sixty five will be renting by twenty forty eight. And

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Speaker 3: guess what, that's an increase of more than one hundred percent.

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Speaker 3: Policy specialist Jordan King says the private rental market is

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Speaker 3: already not keeping up with the demand for more accessible housing.

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Speaker 7: We need to see the property management industry starting to

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Speaker 7: prepare policies and procedures for tenants who may need additional

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Speaker 7: levels of support.

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Speaker 4: The first word on the News of the Day edition

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Speaker 4: with Ryan Bridge and Smith City, New Zealand's Furniture Beds

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Speaker 4: and a playing store news talk set me.

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Speaker 3: Yeah, so we'll keep an eye on what's happening this

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Speaker 3: morning with the job starter. It's obviously an indication of

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Speaker 3: where the Reserve Bank might go next week. Interestingly, markets

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Speaker 3: are pricing a ninety two percent chance of a rate

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Speaker 3: cut next week here, so it could happen quickly. Although,

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Speaker 3: as I mentioned yesterday, are we all going to run

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Speaker 3: out and spend all of our money straight away. I

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Speaker 3: don't know what happened yesterday afternoon. The key we dollar foul.

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Speaker 3: This is after the Yaussies kept their rates on hold

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Speaker 3: at four point three five percent. And I've actually got

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Speaker 3: some audio from the Reserve Bank Governor Australia to play

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Speaker 3: for you in a second. But they're taking a tough

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Speaker 3: stance over there. They are expecting to hit their target band,

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Speaker 3: which is two to three percent, not until late twenty

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Speaker 3: twenty five. They'll reach the midpoint they reckon in twenty

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Speaker 3: twenty six, and they have said no rate cut here.

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Speaker 3: It ain't happening till twenty twenty five.

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Speaker 8: Make no mistake, inflation is still too high. A rate

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Speaker 8: cut is not on the agenda in the near term.

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Speaker 8: Given what we know, continued pressure will help to keep

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Speaker 8: demand coming back into line with supply.

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Speaker 3: So you've got Australia holding, you've got the feeds in

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Speaker 3: the US holding, You've got Japan hiking rates, the anomaly,

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Speaker 3: you've got the bank as we said yesterday, Bank of England,

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Speaker 3: Eurocentral Bank, Canada have all cut and here we've got

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Speaker 3: our decision next week. And basically we're looking for a

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Speaker 3: magic number from the quarter to labor market data which

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Speaker 3: is being released today. So quarter one four point three

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Speaker 3: percent unemployment asb Reckons quarter to four point seven percent.

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Speaker 3: What is the magic number? We'll ask Mark Smith. That's

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Speaker 3: just before six this morning, just gone eleven after five.

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Speaker 4: On your radio and online on iHeartRadio Early Edition with

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Speaker 4: Ryan Bridge and Smith City, New Zealand's Furniture Beds and

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Speaker 4: a Plying Store.

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Speaker 3: Ziby thirteen after five. Great to have your company on this.

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Speaker 3: What are we Wednesday morning? Tim Waltz is his name.

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Speaker 3: You'll be hearing it a lot today. He's been picked

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Speaker 3: by Kamala Harris's team as her running mate for the

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Speaker 3: November election. He's Minnesota governor. He's folksye because she's obviously

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Speaker 3: a Californian liberal and Trump it Our are trying to

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Speaker 3: paint her as wacky, you know, wacky, wacky liberal, most

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Speaker 3: liberal politician in America, So they've gone with this folksy

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Speaker 3: white guy to try and you know, change the image

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Speaker 3: a bit. But he's pretty liberal too. Have a listen.

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Speaker 9: Twenty twenty three would prove a banner year for the governor.

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Speaker 9: He was part of a DFL tri factor that passed

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Speaker 9: a sweeping progressive agenda that included free school meals, cartifying

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Speaker 9: abortion rates, legalizing marijuana, enacting Peede family leave, and more.

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Speaker 10: History will write the story I keep hearing about this.

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Speaker 10: What's this going to mean? Well, we'll find out. We're

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Speaker 10: pretty sure it's going to mean a fair and more inclusive,

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Speaker 10: better and more prosperous Minnesota.

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Speaker 3: There you go. Legalizing marijuana doesn't exactly sound conservative, does it.

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Speaker 3: I suppose they're trying to strike a balance there somewhere.

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Speaker 3: Fourteen after five Brian Bridge, one of New Zealand's oldest

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Speaker 3: and most iconic department stores, Smith and Coey's, has found

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Speaker 3: a way to partially save itself. The company has backtracked

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Speaker 3: on a full closure, now deciding to shut its Newmarket

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Speaker 3: store and downsize it's Queen Street one while focusing on

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Speaker 3: online sales. Heart of the City chief executive Viv Beck

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Speaker 3: is with me this morning. Good morning, Viv, good morning.

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Speaker 3: This is good news for the city.

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Speaker 6: Right, It's great news, it really is. I mean, it's

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Speaker 6: always sad to think of a business closing. This keeps

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Speaker 6: jobs for one hundred people. It's from our perspective, great

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Speaker 6: to see it stay in that particular area.

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Speaker 5: We've got a lot of you know.

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Speaker 6: Construction is still happening, but a positive future. I think

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Speaker 6: this is a good sign of confidence in the future

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Speaker 6: of Queen Street.

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Speaker 3: Is Queen Street going to actually become somewhere that you

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Speaker 3: go to. I was driving through there yesterday. It takes

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Speaker 3: you half an hour to get from one side to

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Speaker 3: the other. There's you know, I don't beggars, not homeless people,

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Speaker 3: but beggars, people who are agro on the street. It's

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Speaker 3: not a place you want to go at the moment.

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Speaker 6: Well, I think that's part of a challenge, and we've

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Speaker 6: raised all of these issues with counsel and at to

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Speaker 6: make this a better environment while we wait for the

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Speaker 6: CRL to open, which is CRL, the conventions, and there's

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Speaker 6: a lot of sort of milestone investments coming through in

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Speaker 6: the next couple of years. The safety has had.

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Speaker 7: A lot of work.

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Speaker 5: There's still work to do.

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Speaker 6: We accept that, but a lot of work has happened

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Speaker 6: and is happening as we speak. But I think it's

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Speaker 6: really looking to that period. It's a period from now

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Speaker 6: to when the CRL opens and the end at ICC

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Speaker 6: is open. There is a lot of investment which does

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Speaker 6: give positive shows the confidence in the future of Queen Street.

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Speaker 6: But I think as long as we get some progress

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Speaker 6: on the things we've been asking to happen in that

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Speaker 6: area to make it a better place for people and

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Speaker 6: business right now through this period, having Slip and Curry

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Speaker 6: live on in Queen Street is positive.

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Speaker 3: Yeah, I completely agree with you. It's a brilliant, iconic

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Speaker 3: store and to have some presence still there will be important.

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Speaker 3: Thank you very much for your time. Interesting that Becker

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Speaker 3: is talking about the City rail link is sort of

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Speaker 3: the light at the end of the tunnel. Once that

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Speaker 3: thing is done and you can see at the moment

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Speaker 3: in the city they've got the stations going up, you

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Speaker 3: can actually start to see how it will look. I

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Speaker 3: just hope the stations aren't filled with and I'm not

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Speaker 3: saying when I say beggars, I don't mean, you know,

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Speaker 3: homeless people who have issues. I'm talking about those super

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Speaker 3: aggressive ones who are there to make money. Basically, are

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Speaker 3: we going to have subways filled with them? Hopefully not.

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Speaker 4: News and Views you trust to start your day is

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Speaker 4: early edition with Ryan Bridge Smith City New Zealand's furniture,

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Speaker 4: Beds and a playing Store.

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Speaker 3: News Talk said be nineteen after five. Mark says the

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Speaker 3: CRL that's the city rail Link, isn't going to make

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Speaker 3: me visit downtown Auckland, No, Mark. I suppose it won't

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Speaker 3: be an attraction in and of itself, but I think

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Speaker 3: they're hoping that it will encourage and facilitate people to

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Speaker 3: be able to get into the city quicker, because at

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Speaker 3: the moment if you try and drive, it's a nightmare.

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Speaker 3: Nineteen ninety two to text nineteen a half to five.

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Speaker 3: The Motor Trade Association has come up with a retail

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Speaker 3: crime wish list for the government. It wants a bold,

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Speaker 3: innovative approach, increased security measures, more involvement from the police.

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Speaker 3: Is especially around the sharing of offending online. First Retail

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Speaker 3: Group Managing Director. First Retail is a retail business consultancy.

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Speaker 3: By the way, First Retail Group Managing Director Chris Wilkinson

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Speaker 3: is with me. Chris, good morning, Good morning, Ryan. How

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Speaker 3: are you im well? Thank you. One of the things

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Speaker 3: that caught my attention from this wish list from the

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Speaker 3: MTA is getting rebates on fuel taxes. This is the

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Speaker 3: businesses when fuel is stolen from them.

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Speaker 7: Absolutely. Look, I think this is something that very few

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Speaker 7: of us realized. But the reality is that these retailers

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Speaker 7: have to pay that tax whether they sell it or

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Speaker 7: it's stolen from them.

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Speaker 3: So they're wanting basically the government to give them, well,

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Speaker 3: not a handout, but to compensate for that.

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Speaker 7: Yeah, and when you think about it, it's entirely realistic.

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Speaker 7: You know, this is something that they would have otherwise

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Speaker 7: been able to claim the tax on and they're not

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Speaker 7: having that chance.

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Speaker 3: To How much do you know, is there a figure

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Speaker 3: on how much gas fuel is stolen?

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Speaker 7: Look, I don't have a figure on it, but the

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Speaker 7: reality is it's happening more and more and it's a

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Speaker 7: very challenging situation for the sector.

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Speaker 3: What about the prepaid because most places I would assume

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Speaker 3: have prepaid these days, so you avoid the problem altogether,

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Speaker 3: don't you.

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Speaker 7: Oh look in urban areas, yes, prepay is it's kind

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Speaker 7: of what's happening at the moment. But for many of

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Speaker 7: these retailers, they're in the provincial areas, you know, their

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Speaker 7: heart of community businesses that people visit on a daily

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Speaker 7: basis to get their milk, get their pies, to get

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Speaker 7: their lunch supplies. And having a prepay model, firstly, it's

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Speaker 7: an expensive thing. To implement, but for many of these

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Speaker 7: smaller retailers it's just not practical.

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Speaker 3: They want to share footage. So when you get some

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Speaker 3: you know, some homie turning up and stealing fuel and

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Speaker 3: it's caught on CCTV camera, they want to be sharing

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Speaker 3: this more. Do you agree with that?

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Speaker 7: Yeah? Absolutely, We've got to be much harder at the moment.

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Speaker 7: We're working over in the UK, and you know, there's

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Speaker 7: a real push now from the government and from the

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Speaker 7: businesses to start freeing up some of these privacy laws

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Speaker 7: because any of these offenders the hiding behind them they can.

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Speaker 3: Right, so you get your CCTV catches them, you know

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Speaker 3: it's them that's stolen something, but you can't show the

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Speaker 3: face online and say you know, this person stole from me,

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Speaker 3: because they have it hasn't been proven in a court

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Speaker 3: of law.

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Speaker 7: That's right. There are ways that these can be shared

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Speaker 7: within private networks quite legitimately. But I think that they're

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Speaker 7: starting to say, look, we know that people are hiding

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Speaker 7: behind these laws now and because of the changes in

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Speaker 7: the way this kind of activity is happening, the prevalence

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Speaker 7: of it and the impact it's having on our communities

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Speaker 7: and our economies that we need to actually get a

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Speaker 7: lot tougher.

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Speaker 3: Thanks so much for your time. Chris Wilkinson, First Retail

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Speaker 3: Group Managing Director, talking about the Motor Trade Association's wish

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Speaker 3: list for the government. One of those things is a

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Speaker 3: rebate on fuel taxes. It doesn't seem fair, does it.

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Speaker 3: Someone steals the fuel from you and you still have

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Speaker 3: to pay the tax to the government. It is twenty

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Speaker 3: three minutes after five.

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Speaker 4: The early edition full show podcast on iHeartRadio how It

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Speaker 4: By News.

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Speaker 1: Talks at Me.

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Speaker 3: The power was cut to my place last night. Don't worry.

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Speaker 3: It was expected. It was a maintenance thing. From one

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Speaker 3: in the morning or midnight through to five am, the

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Speaker 3: heating was off. It was chilly. I think it was

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Speaker 3: six degrees in Auckland last night. Not as bad as

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Speaker 3: you zero in christ Church, granted, but boy does it

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Speaker 3: make you think how important electricity is. You don't know

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Speaker 3: what you've got till it's gone. You wake up, you know, freezing,

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Speaker 3: you've got fripples, you've got a cold foot hanging out

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Speaker 3: the bed, you're fumbling around in your undies trying trying

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Speaker 3: to find undies because it's dark. You know, it's quite important.

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Speaker 3: To have electricity right, and you don't know how good

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Speaker 3: it is till it's gone. So too for major key

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Speaker 3: industry who are feeling the cold, hard reality at the

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Speaker 3: moment of life without energy, without gas. Two stories in

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Speaker 3: the last couple of days that caught my attention. One

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Speaker 3: was methin X, which produces methanol. They've got two hundred

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Speaker 3: and seventy staff. Six hundred and forty million dollars is

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Speaker 3: what they're worth to the Taranaki economy, more close to

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Speaker 3: a billion to the national economy, eight percent of Taranaki's GDP,

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Speaker 3: and they are reviewing operations in New Zealand. They're running

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Speaker 3: at half capacity. Why a lack of gas dwindling supply

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Speaker 3: from existing gas fields. The spot market is shooting up

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Speaker 3: going through the roof. Wholesale prices are up. You can't

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Speaker 3: get a contract. The business is the equivalent of stumbling

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Speaker 3: around in the dark at the moment. There's no certainty.

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Speaker 3: They can't get affordable contracts, so business is suffering. The

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Speaker 3: other story, the largest employer in Uapehu District two hundred

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Speaker 3: and fifty people employed at this pulp mill and sawmill.

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Speaker 3: They've paused their operations. Why energy costs up six hundred

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Speaker 3: percent since twenty twenty one. There's a fourteen day pause

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Speaker 3: going on there while they consider their future. This is

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Speaker 3: not good. Some are talking about a manufacturing exodus. This

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Speaker 3: is what we're seeing. It will hurt small town New Zealand.

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Speaker 3: And these are good jobs. There are jobs that feed families.

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Speaker 3: Is this a surprise. No. Twenty eighteen MB rang the

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Speaker 3: alarm bells about the government's oil and gas ban quite loudly,

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Speaker 3: I might add, and I'll just read you a little

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Speaker 3: bit from what was written at the time in twenty eighteen.

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Speaker 3: This is a briefing paper from the Ministry of Business,

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Speaker 3: Innovation and Employment given to then Energy Minister Megan Woods.

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Speaker 3: It said METHODEX would not be able to operate at

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Speaker 3: full capacity from twenty twenty one and would stop completely

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Speaker 3: after twenty twenty six. Method X will require a new

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Speaker 3: discovery if it is to continue operating in New Zealand

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Speaker 3: over the medium to long term. So we had the warning.

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Speaker 3: Now it is happening, and the government promised a just

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Speaker 3: transition at the time. Where is that Show me the

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Speaker 3: jobs to replace the potentially hundreds that are on the

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Speaker 3: line right now? Feels a little bit like we're fumbling

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Speaker 3: around in the dark at the moment. Twenty eight after five,

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Speaker 3: Ryan Bridge, we're going to look at interest rates just

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Speaker 3: before six o'clock. I'm very keen to hear from Mark Smith,

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Speaker 3: asb's senior economists, what is the magic number we need

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Speaker 3: from the jobs data today? Plus China says they're squeaky

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Speaker 3: clean when it comes to the Olympics and cheating doping.

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Speaker 3: Do you believe them? Well? Look at that. A really

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Speaker 3: interesting Oxford report too, which we'll touch on how much

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Speaker 3: these games are costing Paris and how much they expect

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Speaker 3: is going to cost Ala and Brisbane because they're the

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Speaker 3: next two hosts coming up as well. It is news

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Speaker 3: time here on News Talk ZB not of.

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Speaker 11: Will but then say where a sl you the door?

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Speaker 1: I don't love your bad.

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Speaker 11: That this game I'm doing, But.

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Speaker 10: Where talk door?

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Speaker 4: Ryan Bridge? You for twenty twenty four on early edition

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Speaker 4: with Smith City New Zealand's furniture bids at applying store

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Speaker 4: News Talk Sid.

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Speaker 11: Bey suck down, No, sadly you break owns.

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Speaker 3: Twenty four away from six here on News Talks. They'd

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Speaker 3: be great to have your company this morning. Interesting report

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Speaker 3: from Oxford University is Paris winning the Olympics, do we

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Speaker 3: think in terms of showing off the city France more generally?

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Speaker 3: Are they winning or are they losing? Financially? It's not

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Speaker 3: looking great. This report reckons taxpayers will promise it had

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Speaker 3: cost eight point seven billion US dollars actual thirteen point

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Speaker 3: four billion US dollars. And apparently every games since nineteen

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Speaker 3: sixty has cost more than promised. Fifty seven percent of

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Speaker 3: those cases, the end cost had at least doubled on

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Speaker 3: what was originally advised to taxpayers, because obviously the politicians

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Speaker 3: want to downplay how much it's going to cost and

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Speaker 3: then look at it skyrocket. They've done estimates. I don't

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Speaker 3: know how they do this, but they've done estimates on

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Speaker 3: how much they think it will cost. Ala and Brisbane,

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Speaker 3: who are the next to host the Olympic Games, they

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Speaker 3: reckon La twenty twenty eight is already twenty eight percent

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Speaker 3: over what was budgeted originally, Brisbane forty four percent already

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Speaker 3: over what was budgeted and it's still eight years away.

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Speaker 3: So is it worth it? You know, does watching these

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Speaker 3: Olympics make you want to go to Paris jump in

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Speaker 3: the river sen You know, they're now known for Frog's

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Speaker 3: champagne and e Colon. I don't know, it is beautiful.

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Speaker 3: It is nice to watch. Hey. Trump has released already

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Speaker 3: an attack ad on Minnesota Governor Tim Waltz, who Kamala

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Speaker 3: Harris has chosen as her running mate. Have a listen.

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Speaker 12: Kamala Harris just doubled down on her radical vision for

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Speaker 12: America by tapping another left wing extremist as her VP nominee.

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Speaker 12: Tim Waltz will be a rubber stamp for Kamala's dangerously

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Speaker 12: liberal agenda like allowing convicted felons to walk free, embracing

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Speaker 12: anti American Green New Deal policies, and giving up control

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Speaker 12: of our southern border to criminal aliens, and finally drug hotels.

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Speaker 12: Kamala Harris and Tim Waltz, they're failed, weak and dangerously liberal.

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Speaker 3: Ryan Bridge, right, twenty two minutes away from Sex. Why

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Speaker 3: don't we have ads like that here? Let's go to

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Speaker 3: our reporters around the country, Color Proctors and Dunedin this morning, Callum,

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Speaker 3: good morning to you. The council's got a bit of

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Speaker 3: a tree bill. Yeah, morning, Ryan.

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Speaker 13: The city council here digging out thousands of dollars to

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Speaker 13: replace damaged plants and ratepayers aren't happy. Three new beach

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Speaker 13: trees were damaged by vandals on the recently upgraded George

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Speaker 13: Street retail quarter sometimes Sunday or early Monday morning. A

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Speaker 13: council spokesperson says the trees will be replaced over the

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Speaker 13: coming weeks for about five thousand dollars each. Ratepayers have

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Speaker 13: been quick to express their anger over that price, saying

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Speaker 13: surely there's less expensive options, or perhaps don't replace them

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Speaker 13: at all. The council says the price is because the

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Speaker 13: plants need to be the right shape, maturity and trunk

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Speaker 13: size and have to be stalled with heavy lifting equipment.

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Speaker 13: They have filed a complaint with police for anyone and

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Speaker 13: encourage anyone with information.

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Speaker 3: To report it. Right weather today callum fine.

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Speaker 13: For deneed and mostly cloud increasing this afternoon northerleies and

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Speaker 13: fifteen brilliant.

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Speaker 3: Thank you. Michael Sergles with christ Church. This morning, we've

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Speaker 3: heard from the family of the Kiwi helicopter pilot killed

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Speaker 3: in Indonesia.

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Speaker 2: Michael, Yes, fifty year old Glynn Conning was well known

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Speaker 2: in South Island aviation circles and helped fight those fires

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Speaker 2: that we had on the hills earlier this year. Connin's father,

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Speaker 2: Bell taught his son to fly at motworka airport, and

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Speaker 2: since he was a respected and well known pilot, The

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Speaker 2: Coning family say they're heartbroken by the loss. They appreciate

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Speaker 2: all the love and support they've received. The family say

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Speaker 2: that he was the most curing and loving husband and

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Speaker 2: dad to his girls, and he is truly loved by

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Speaker 2: his family and friends.

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Speaker 3: Very very sad. Indeed, how's the weather in christ Church, Michael?

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Speaker 2: Areas of morning FoST and fog clearing to a fine

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Speaker 2: afternoon before clouds are back tonight. The high thirteen degrees brilliant,

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Speaker 2: Thank you very much.

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Speaker 3: Mex toll Is in Wellington, MAX life changing surgery overseas

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Speaker 3: for a Wellington teenager.

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Speaker 14: Yeah, a nice story in the Capitol. Enough money has

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Speaker 14: now been raised via Give a Little for fifteen year

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Speaker 14: old Julia Chocquette to have specialist surgery in Germany. Surgery unavailable,

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Speaker 14: unavailable obviously here in New Zealand. Julia can't eat or drink.

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Speaker 14: She's not been to school in sixty sixteen months. Thirty

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Speaker 14: two thousand more was raised by her school, Queen Margaret's College,

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Speaker 14: So she's going over in October. What she has is

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Speaker 14: a condition known as a multiple abdominal vascular compression syndromes

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Speaker 14: and Hope hypermobile ailas dan Loos syndrome. So obviously a

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Speaker 14: very rare disorder, something she became ill with. She wasn't

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Speaker 14: born with it. Previously, she was a competitive cheerleader, a debater,

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Speaker 14: she played the violin. Now she lives with a nasal tube,

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Speaker 14: suffers from some pretty horrific symptoms. The surgery takes a

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Speaker 14: year to recover from, but from October she's on the way.

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Speaker 3: Well that is great news and dued Max, thank you.

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Speaker 3: How's the weather?

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Speaker 14: It should be fine once it starts to warm up,

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Speaker 14: but a cloud later on thirteen the high Central.

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Speaker 3: Did you feel that earthquake yesterday? It did? It woke

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Speaker 3: me up?

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Speaker 10: Yeah?

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Speaker 3: Ah what time?

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Speaker 14: Just before midnight? I'll tell you what though people always

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Speaker 14: go online and rate these things as strong or severe.

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Speaker 14: You know, I'm from christ Church. I know what a

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Speaker 14: strong earthquake is, and that was not a strong earthquake

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Speaker 14: in your battle hardened day, Max, exactly, Thank you very much.

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Speaker 14: Saniva really manas an Auckland, Neva.

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Speaker 3: Good morning, good morning.

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Speaker 15: He is battle hard, isn't he? If that was us

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Speaker 15: up here. If that was me or it was one

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Speaker 15: on the Richter scale, we'll.

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Speaker 6: Go, oh my god, help help Have.

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Speaker 3: You been putting in your EQC claims exactly, Hey, it's

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Speaker 3: telling about the zombie fish.

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Speaker 13: Zombie fish.

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Speaker 15: Well, look this aliuminium pollution. Now this could be to

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Speaker 15: blame for the mysterious zombie fish. Now, some of this

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Speaker 15: fish has been found around the North Island. So a

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Speaker 15: fisherman coined the tomb after catching a snapper. Now the snapperhead, cloudy,

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Speaker 15: bloodshot eyes, sunk it into the face, missing flesh and

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Speaker 15: bone sticking out. Oh sounds like a zombie anyway. The

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Speaker 15: fish with the zombie like symptoms have been found around Raglan,

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Speaker 15: Fungda Harbor, Kaiper Paika, Kadiki and Fisheries. New Zealand is

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Speaker 15: testing them for aluminium. This is after the levels in

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Speaker 15: the Northern Wide All River at Dargaville they were found

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Speaker 15: to be thirty times the guideline. So until testing is finished,

435
00:24:18,800 --> 00:24:21,480
Speaker 15: they're saying, you know, don't eat the fish with the symptoms.

436
00:24:21,600 --> 00:24:23,159
Speaker 15: I mean, who's going to eat the fish like that?

437
00:24:23,480 --> 00:24:23,680
Speaker 16: No?

438
00:24:23,880 --> 00:24:26,160
Speaker 15: I love good snapper though, snapper and chips.

439
00:24:25,880 --> 00:24:26,639
Speaker 3: Not zombie snapper.

440
00:24:26,720 --> 00:24:27,000
Speaker 5: No way.

441
00:24:27,119 --> 00:24:28,680
Speaker 3: Yeah, Creet, how's the weather today?

442
00:24:28,720 --> 00:24:31,399
Speaker 15: Nev fine today, we've got patches of morning for frost

443
00:24:31,480 --> 00:24:33,920
Speaker 15: and sheltered places. I mean for Auckland. We're going for

444
00:24:33,960 --> 00:24:35,879
Speaker 15: a higher fifteen. But this is pretty cold for us

445
00:24:35,880 --> 00:24:38,600
Speaker 15: because we're currently on four degrees. The rest of the

446
00:24:38,600 --> 00:24:41,160
Speaker 15: country we're going hard en up.

447
00:24:41,200 --> 00:24:43,399
Speaker 3: It was zero and christ chitch overnight. But you're right,

448
00:24:43,440 --> 00:24:46,600
Speaker 3: really four degrees right, yes, all right, never, thank you

449
00:24:46,680 --> 00:24:49,040
Speaker 3: very much. It has just gone seventeen away from six

450
00:24:49,160 --> 00:24:51,639
Speaker 3: year old. News talk said b coming up next. Elon

451
00:24:51,760 --> 00:24:57,639
Speaker 3: Musk says civil war is inevitable in the UK. The

452
00:24:57,680 --> 00:25:02,119
Speaker 3: governments responded sixteen minutes from sorry, fourteen minutes away from six.

453
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454
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476
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Speaker 3: The riots spinning violent in the UK. Devin Gray's a

477
00:26:16,240 --> 00:26:19,080
Speaker 3: UK and Europe correspondent, Gavin Good to have you on

478
00:26:19,119 --> 00:26:23,840
Speaker 3: the program this morning. What's Elon Musk talking about civil war?

479
00:26:25,119 --> 00:26:28,879
Speaker 16: Yeah? Very interesting, Ryan, So he's tweeted but on X

480
00:26:29,000 --> 00:26:32,719
Speaker 16: that he said civil war is inevitable. It was in

481
00:26:32,760 --> 00:26:36,680
Speaker 16: response to a video showing people aiming fireworks at police.

482
00:26:37,160 --> 00:26:40,240
Speaker 16: The Prime minister spokesperson hit backs and there's absolutely no

483
00:26:40,440 --> 00:26:44,359
Speaker 16: justification and said that actually social media companies should be

484
00:26:44,400 --> 00:26:48,040
Speaker 16: doing more in order to control some of the wild

485
00:26:48,160 --> 00:26:50,680
Speaker 16: rumors sweeping on it and the fact they're being used

486
00:26:50,960 --> 00:26:53,879
Speaker 16: as sort of invitations to come and organize a riot

487
00:26:53,960 --> 00:26:57,119
Speaker 16: sort of thing. Anyway, it wasn't over then, because an

488
00:26:57,200 --> 00:27:02,720
Speaker 16: Elon Musk replied saying that Sekir Starmer, our prime minister

489
00:27:02,760 --> 00:27:05,240
Speaker 16: has said he would not tolerate a tax on mosques

490
00:27:05,320 --> 00:27:08,960
Speaker 16: or Muslim communities, to which Elon muslis, well, shouldn't you

491
00:27:09,040 --> 00:27:13,200
Speaker 16: be concerned about a tax on all communities? He said?

492
00:27:13,760 --> 00:27:15,920
Speaker 16: When he saw a video of a person being arrested

493
00:27:15,960 --> 00:27:18,960
Speaker 16: for offensive comments online, he asked, is this Britain or

494
00:27:18,960 --> 00:27:22,040
Speaker 16: the Soviet Union. I can't see ran this row ending

495
00:27:22,080 --> 00:27:25,120
Speaker 16: anytime soon. I don't think Elon Musk will start tweeting

496
00:27:25,440 --> 00:27:28,200
Speaker 16: stop tweeting, and I don't think that we are going

497
00:27:28,240 --> 00:27:32,280
Speaker 16: to see the Prime minister back down either. This disorder,

498
00:27:32,320 --> 00:27:35,040
Speaker 16: as you pointed out, has now lasted a week and

499
00:27:35,119 --> 00:27:37,760
Speaker 16: now the government is citing that it may well start

500
00:27:37,800 --> 00:27:41,879
Speaker 16: to use terrorism legislation in order to take some of

501
00:27:41,880 --> 00:27:43,680
Speaker 16: those responsible to court.

502
00:27:44,240 --> 00:27:47,480
Speaker 3: Goodness, mate, the man's been hospitalized as well. This is

503
00:27:47,520 --> 00:27:49,720
Speaker 3: in Belfast, Yeah, and.

504
00:27:49,680 --> 00:27:52,320
Speaker 16: I think it's an indication of the fact that this

505
00:27:52,440 --> 00:27:56,720
Speaker 16: is not just about far right motives or about immigration,

506
00:27:56,840 --> 00:27:59,800
Speaker 16: because police in Belfast, in Northern Ireland are saying that

507
00:27:59,800 --> 00:28:02,879
Speaker 16: this attack, which left this man in his fifties really

508
00:28:02,920 --> 00:28:08,200
Speaker 16: pretty seriously injured and he's in a hospital, definitely included

509
00:28:08,240 --> 00:28:11,680
Speaker 16: a paramilitary element. What does that mean where you'll remember

510
00:28:11,840 --> 00:28:15,600
Speaker 16: the struggles and the troubles in Ireland, Northern Ireland in

511
00:28:15,640 --> 00:28:20,240
Speaker 16: the seventies and eighties and the terrorism element there and

512
00:28:20,760 --> 00:28:24,400
Speaker 16: in this particular issue, witnesses reported seeing attack, a stamp

513
00:28:24,440 --> 00:28:27,680
Speaker 16: on this man's head. They believe it was racially motivated,

514
00:28:27,920 --> 00:28:31,080
Speaker 16: while other members of the public tried to shield this man.

515
00:28:31,560 --> 00:28:34,040
Speaker 16: There was prior to the attack a lot of petrol

516
00:28:34,119 --> 00:28:38,240
Speaker 16: bomb throwing, masonry and bricks also thrown towards police and

517
00:28:38,320 --> 00:28:41,240
Speaker 16: a land rover from the Police Service of Northern Ireland

518
00:28:41,320 --> 00:28:44,640
Speaker 16: set alite. Up to one hundred people involved. Three hundred

519
00:28:44,640 --> 00:28:48,040
Speaker 16: police officers trying to keep the beast. We've been sephalite

520
00:28:48,120 --> 00:28:52,040
Speaker 16: and stones thrown pretty ugly scenes. And here we are

521
00:28:52,080 --> 00:28:55,520
Speaker 16: just one week one and still on a nightly basis,

522
00:28:55,560 --> 00:28:58,040
Speaker 16: we're hearing a different disorder in different cities.

523
00:28:58,280 --> 00:29:00,320
Speaker 3: Yeah, and Devin, thank you for that update. Given Gray

524
00:29:00,360 --> 00:29:03,160
Speaker 3: are UK and you're correspondent. It has just gone ten to.

525
00:29:03,200 --> 00:29:05,040
Speaker 4: Six grayan Bridge.

526
00:29:05,400 --> 00:29:08,560
Speaker 3: It is a big day today for mortgage holders. Basically,

527
00:29:08,600 --> 00:29:11,760
Speaker 3: are enough people out of work to force the ocr down,

528
00:29:11,920 --> 00:29:15,920
Speaker 3: thereby taking the pressure off our mortgages. Unemployment data for

529
00:29:15,960 --> 00:29:18,320
Speaker 3: the June quarter is out today. The Reserve Bank is

530
00:29:18,400 --> 00:29:22,080
Speaker 3: expecting unemployment rate to rise to four point six percent.

531
00:29:22,120 --> 00:29:25,440
Speaker 3: It's currently at four point three percent for quarter one, A,

532
00:29:25,600 --> 00:29:29,000
Speaker 3: n Z, ASB, Kiwibank, Westpac they all predict an increase

533
00:29:29,080 --> 00:29:31,960
Speaker 3: to four point seven percent, B and Z saying four

534
00:29:31,960 --> 00:29:35,240
Speaker 3: point six, joining me in ours ASB Senior economist Mark Smith, Mark,

535
00:29:35,240 --> 00:29:39,680
Speaker 3: good morning, good morning. What's the magic number? Do you

536
00:29:39,720 --> 00:29:41,520
Speaker 3: think what is the magic number we would need to

537
00:29:41,520 --> 00:29:44,480
Speaker 3: see today in order for their to be a cut,

538
00:29:44,600 --> 00:29:45,480
Speaker 3: say next week?

539
00:29:47,160 --> 00:29:49,800
Speaker 5: Well probably that's the higher the numbers are more likely

540
00:29:50,800 --> 00:29:53,040
Speaker 5: you'd like to see a cat It's not just the

541
00:29:53,120 --> 00:29:56,360
Speaker 5: unemployment rate, but also things like labor, cops and wages

542
00:29:56,680 --> 00:29:59,120
Speaker 5: that the Reserve Bank are looking at very closely.

543
00:30:00,120 --> 00:30:04,280
Speaker 3: Will they how how well to what extent is it

544
00:30:04,320 --> 00:30:08,240
Speaker 3: the job's data versus that sticky domestic infation that we've

545
00:30:08,240 --> 00:30:08,800
Speaker 3: been watching.

546
00:30:09,840 --> 00:30:12,040
Speaker 5: Yeah, I think what we've seen is we've gone from

547
00:30:12,040 --> 00:30:14,320
Speaker 5: a period a few years ago where firms have been

548
00:30:14,360 --> 00:30:17,320
Speaker 5: hoarding labor. It's now a where firms are actually shedding

549
00:30:17,400 --> 00:30:20,840
Speaker 5: labor because the demind of environment is so weak and

550
00:30:20,880 --> 00:30:24,400
Speaker 5: they're having to do that. Also, firms profitability now is

551
00:30:24,680 --> 00:30:27,200
Speaker 5: very dire, you know, the weakest in about thirty years

552
00:30:27,440 --> 00:30:30,240
Speaker 5: as the share of income, So they're really in position

553
00:30:30,320 --> 00:30:32,880
Speaker 5: now where they can't really afford to hold on to

554
00:30:32,960 --> 00:30:35,960
Speaker 5: staff and had to let them guards. Now, when that happens,

555
00:30:36,160 --> 00:30:38,280
Speaker 5: what we'd like to see is this labors share of

556
00:30:38,280 --> 00:30:41,880
Speaker 5: income is lately to fall and inflation will fall as well.

557
00:30:42,520 --> 00:30:45,800
Speaker 5: So all of these things are interlinked. But really when

558
00:30:45,840 --> 00:30:48,520
Speaker 5: we see more spare capacity growing in a labor market

559
00:30:48,640 --> 00:30:51,600
Speaker 5: with the unemployment rate going up, that meets that inflation

560
00:30:51,640 --> 00:30:54,840
Speaker 5: will eventually go down, and that meant that means their

561
00:30:54,840 --> 00:30:56,800
Speaker 5: official cash rate needs to come down as well.

562
00:30:56,920 --> 00:31:01,200
Speaker 3: The Aussies are playing hardball. Yesterday the Reserve Bank there

563
00:31:01,840 --> 00:31:04,440
Speaker 3: no cuts till twenty twenty five. That sort of thing.

564
00:31:05,320 --> 00:31:06,840
Speaker 3: Do you do you believe.

565
00:31:06,560 --> 00:31:11,400
Speaker 5: Them, Well, it's hard to say at the moment. Bear

566
00:31:11,400 --> 00:31:14,000
Speaker 5: in mind the Australian official their cash rate is four

567
00:31:14,000 --> 00:31:16,640
Speaker 5: point three five per se ours is five and a half,

568
00:31:17,000 --> 00:31:20,480
Speaker 5: so that they're completely different. Also, the Australian economy is

569
00:31:20,520 --> 00:31:23,760
Speaker 5: doing better than the New Zealand economy. For example, the

570
00:31:23,760 --> 00:31:26,680
Speaker 5: Australian housing market is still doing very well. We're here,

571
00:31:26,720 --> 00:31:30,040
Speaker 5: it's down the dumps. New Zealand is I think in

572
00:31:30,040 --> 00:31:32,320
Speaker 5: and out of recession. I would like to see a

573
00:31:32,360 --> 00:31:35,880
Speaker 5: size or contraction economic activity and in the middle of

574
00:31:35,880 --> 00:31:38,320
Speaker 5: the share So things in New Zealand are dire and

575
00:31:38,400 --> 00:31:41,560
Speaker 5: we're really to see the oci come down How.

576
00:31:41,440 --> 00:31:44,680
Speaker 3: Much because obviously the committee that decides this, they're all

577
00:31:44,760 --> 00:31:49,360
Speaker 3: humans and they can see themselves presumably how much hurt

578
00:31:49,360 --> 00:31:52,320
Speaker 3: there is out there on main street? How much do

579
00:31:52,360 --> 00:31:54,640
Speaker 3: they do you reckon? They actually listen to that noise,

580
00:31:55,040 --> 00:31:57,080
Speaker 3: you know, to that political pressure as well.

581
00:31:58,400 --> 00:32:01,680
Speaker 5: Well. They're obviously continent what's happening around them, you know,

582
00:32:02,240 --> 00:32:05,440
Speaker 5: and it's pretty clear how weak things are. But really

583
00:32:05,480 --> 00:32:08,520
Speaker 5: they've written inflation targe to meet first, and at the

584
00:32:08,520 --> 00:32:11,720
Speaker 5: moment inflation is at three point three percent now if

585
00:32:11,760 --> 00:32:14,440
Speaker 5: you take out costs, for example, that it's already below

586
00:32:14,480 --> 00:32:17,120
Speaker 5: three percent. So from that point of view, yes they

587
00:32:17,160 --> 00:32:20,040
Speaker 5: should be COEOCA, but they want to make sure that

588
00:32:20,160 --> 00:32:24,040
Speaker 5: inflation will settle below three percent before cutting. But you're right.

589
00:32:24,080 --> 00:32:27,600
Speaker 5: You look around you. The unumplement rate is going. We

590
00:32:27,720 --> 00:32:29,640
Speaker 5: expect to hit a round five and a half percent

591
00:32:29,680 --> 00:32:31,360
Speaker 5: by the end of the year and it's on track

592
00:32:31,440 --> 00:32:34,680
Speaker 5: to move around six percent by both sort of next

593
00:32:34,720 --> 00:32:37,600
Speaker 5: year as well. So things that are certainly calling and

594
00:32:37,720 --> 00:32:39,880
Speaker 5: there is certain needs for the SEO to come down.

595
00:32:40,040 --> 00:32:42,720
Speaker 3: Mark. Thank you. That's Mark Smith, the ASP senior economist.

596
00:32:42,960 --> 00:32:45,400
Speaker 4: The news you need this morning and the in depth

597
00:32:45,440 --> 00:32:49,440
Speaker 4: analysis early edition with Ryan Bridge and fis City, New

598
00:32:49,520 --> 00:32:52,440
Speaker 4: Zealand's Furniture Beds and a playing store News Talks.

599
00:32:52,520 --> 00:32:55,160
Speaker 3: It'd be five to six. We've been talking about the

600
00:32:55,200 --> 00:32:58,200
Speaker 3: gas shortage, the gas spot prices going through the roof

601
00:32:58,360 --> 00:33:01,240
Speaker 3: and how that's affecting met The next the big employer

602
00:33:01,280 --> 00:33:03,360
Speaker 3: in Tartanaki. This is from John Hi.

603
00:33:03,520 --> 00:33:03,720
Speaker 16: Ryan.

604
00:33:03,760 --> 00:33:07,200
Speaker 3: I've been a maintenance contractor at Methnex for over twenty years.

605
00:33:07,520 --> 00:33:09,520
Speaker 3: A month ago I got laid off because of the

606
00:33:09,600 --> 00:33:12,920
Speaker 3: lack of gas. We were setting up from major maintenance programs,

607
00:33:12,920 --> 00:33:16,400
Speaker 3: which has now been postponed because the plant is operating

608
00:33:16,480 --> 00:33:19,440
Speaker 3: at such a low level. Mike hoskings here and is

609
00:33:19,440 --> 00:33:21,240
Speaker 3: with us next. Good morning, very good morning to you.

610
00:33:21,320 --> 00:33:23,040
Speaker 17: We talk to Prime Minster about that yesterday and it

611
00:33:23,040 --> 00:33:25,640
Speaker 17: makes no sense because there's no alternative. The only alternative,

612
00:33:25,680 --> 00:33:28,280
Speaker 17: I mean, until the wind comes in and the sunflower

613
00:33:28,320 --> 00:33:29,960
Speaker 17: oil and all the other things that they're going to

614
00:33:29,960 --> 00:33:32,400
Speaker 17: save the world with. Until that, You've got coal, haven't it. Really,

615
00:33:32,440 --> 00:33:34,400
Speaker 17: If it doesn't rain, you've got coal. If you haven't

616
00:33:34,400 --> 00:33:36,360
Speaker 17: got gas, you haven't got oil, you've got coal.

617
00:33:36,440 --> 00:33:37,360
Speaker 3: Basically, at the end of the.

618
00:33:37,360 --> 00:33:39,880
Speaker 17: Day, our councils and other council today is having a

619
00:33:39,880 --> 00:33:42,400
Speaker 17: boat on those murray wards. You know how the laws changed,

620
00:33:42,760 --> 00:33:44,480
Speaker 17: and if you've got a murray warden you didn't go

621
00:33:44,480 --> 00:33:45,680
Speaker 17: to the people, you're going to have to go to

622
00:33:45,760 --> 00:33:47,840
Speaker 17: the people or kill the board. So there's a number

623
00:33:47,840 --> 00:33:49,280
Speaker 17: of councils up and down the country at the moment

624
00:33:49,360 --> 00:33:49,920
Speaker 17: voting on that.

625
00:33:50,160 --> 00:33:53,480
Speaker 3: So we shall have a look at this, brilliantus. Obviously

626
00:33:53,480 --> 00:33:56,480
Speaker 3: you'll be on the job's numbers. Job's number two. Right.

627
00:33:57,000 --> 00:33:59,000
Speaker 3: That's it for me. I will see you tomorrow. Mike

628
00:33:59,120 --> 00:33:59,840
Speaker 3: is with you next.

629
00:34:00,320 --> 00:34:06,400
Speaker 13: Leaf labor or hanging out the passenger door.

630
00:34:09,320 --> 00:34:11,960
Speaker 4: For more from Used Talk set B Listen live on

631
00:34:12,040 --> 00:34:15,000
Speaker 4: air or online, and keep our shows with you wherever

632
00:34:15,080 --> 00:34:17,640
Speaker 4: you go with our podcasts on iHeartRadio