Best of Business

KiwiSaver hardship withdrawals have spiked to their highest in a decade last month, amid rising fuel prices.
According to the IRD, more than 5600 people withdrew their savings due to financial hardship - the second-highest amount ever since August 2016.
Over 49 million dollars was withdrawn, a 12.6 percent increase from March last year.
Simplicity chief economist Shamubeel Eaqub says the cost of living crisis, and the recent spike in job losses and business closures have all cumulated into the current increase.
"Mostly, what we're seeing at Simplicity is just that people have lost their jobs, they've lost their businesses, or they can't repay their mortgage - it's kind of life stuff. But the recession has real human cost."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

A Kiwi company is flipping the bird, pivoting from making environmentally friendly wool shoes to AI.
After years of losses, Allbirds sold all its assets this month and now plans to lease GPUs – chips used to train AI software.
It's revised its moniker to NewBirds AI.
Kevin Milne joined Jack Tame to talk about the rise and fall of the company.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

Kiwi company Allbirds has announced a new direction and it's drawn questions from experts.
After years of losses, the former sustainable shoe company is transitioning to AI after selling all its assets this month.
It's revised its moniker to NewBirds AI - seeing share values surging up to 700 percent.
NZ Herald senior business writer Chris Keall says the tech and business-based press has raised concerns about what this could do for the company.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

The US earnings season is in full swing, with many leading companies posting their results.
The Middle East conflict is looming over this year's data and experts have raised concerns.
Sam Dickie from Fisher Funds explained further.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.

Airlines are now treating the fuel crisis as a long term issue.
The conflict in Iran, which has closed the Strait of Hormuz, has forced airfare rises and route cuts.
Board of Airline Representatives NZ Executive Director, Cath O'Brien, says airlines have to look well ahead.
"At the moment, we're planning for the season that runs October to March. As we plan ahead, we have to plan networks on a totally changed basis of cost. And I think that's the real challenge."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.