Best of Business

New research suggests nearly 100 of our CEO's are backing their businesses but not New Zealand.
The Pivot and Pace survey found many CEOs are growing frustrated with the country's lack of long-term thinking.
Many are saying three-year political cycles and a lack of cross-party agreement are holding the country back.
Founding Partner of Pivot & Pace Kendall Langston told Mike Hosking there are other countries with visions longer than two political cycles.
He says CEOs aren't wanting Government involvement – rather a runway and guaranteed resilience to create some confidence in the direction they're heading.
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New Zealand's international credit rating has hit a tipping point, and economists have raised concerns.
Back in March, Fitch Ratings placed New Zealand’s AA+ long-term credit rating on a 'negative outlook', downgraded from 'stable'.
Moody's later followed suit, claiming the global economic and political uncertainty presented downside risks to growth.
Fitch's Head of Asia-Pacific Sovereigns, Thomas Rookmaaker, says this was driven by a number of factors, including the Middle East conflict and Government debt.
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Kiwis appear to be shopping close to home, according to new reports.
Data from retail management platform Lightspeed shows about 77 percent of Kiwis surveyed prefer shopping in store above online.
40 percent shop at local businesses, and 34 percent buy online from New Zealand retailers.
Retail NZ CEO Carolyn Young says they want more of this, and for people to be proud of local stores.
She says people should think about stores in their neighbourhoods that they really love.
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There's growing calls to drop the All Blacks down from business class to premium economy, as travel costs set to get worse during the fuel crisis.
Dropping all of New Zealand's premium rugby teams down a flight class would reportedly save $6 million per year - as NZ Rugby looks to cut down losses.
NZ Rugby CEO Steve Lancaster says the All Blacks need to travel multiple times a year, and this downgrade would be a stretch.
"The All Blacks carry a huge load for us...so we're not just sending them halfway across the world and putting them there, we're flying them multiple times over long distances. So this is not a consideration."
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Competition in New Zealand's economy isn't as strong as it could be.
New Commerce Commission analysis of 22 years of Stats NZ data shows average business concentration has dipped slightly.
However, smaller businesses are still struggling to gain traction against larger firms.
Commission Chair John Small says weak competition in essential sectors is also weakening the rest of economy.
He told Mike Hosking that while the size of New Zealand does have an impact on the amount of competition we have capacity for, we can still do a lot better than we are.
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