Best of Business

The ongoing Middle East conflict has seen Australia business confidence hit lows not seen since the Covid-19 pandemic.
The US has today moved to blockade the Strait of Hormuz, and the supply shock is likely to hit households hard, according to experts.
HSBC chief economist Paul Bloxham explained further.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

Fonterra has named Richard Allen as its new chief executive, succeeding Miles Hurrell.
Allen - who joined Fonterra as a graduate in 2008 and has worked in various roles across the dairy co-operative - will take over next month.
Hurrell will remain in a transition advisory role until September.
The Country's Jamie Mackay explained further.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

New Zealand's growing a reputation among the global tourism industry for its difficult inter-island travel.
Industry workers who attended the world's leading travel trade show in Berlin have made claims that ferry disruptions are leaving tourists and travel companies wary about the possibility of getting stuck while here.
Destination Marlborough general manager Tracey Green says it's now a common concern.
"It's something that we try to ignore, but unfortunately the drum is getting a little bit louder as time goes on - and as more events occur with the Cook Strait crossing."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

Another bank is predicting an upcoming OCR raise.
ANZ has already picked three consecutive Official Cash Rate hikes in July, September, and October.
Now Westpac says it's becoming more of a possibility next month - but is more likely in September.
Chief economist Kelly Eckhold says the Reserve Bank will work from specific indicators.
"They're looking for indications that the peak in inflation will be even higher than they currently expect."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

The Iran war is prompting Qantas to scale back flights within Australia, but it's flying more to Paris and Rome.
The airline's scaling back domestic Qantas and Jetstar flights about 5 percent.
Qantas says fuel prices have more than doubled since late February, and remain highly volatile.
Australian correspondent Murray Olds says the airline's projected to make a loss amid the ongoing conflict - and business confidence has dropped.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.