Best of Business

The Icehouse is celebrating 25 years of powering Kiwi business growth.
They’re a non-profit dedicated to training and mentoring the small to medium enterprises that make up 97% of New Zealand’s economy.
And today is their Ignite Growth Summit, in which they bring together legendary founders who have gone from the garage to the global stage to inspire the next wave of business talent.
CEO Olivia Blaylock told Kerre Woodham there are so many great businesses around New Zealand, and while some, like Pic’s, are well known, there are plenty that we don’t hear about.
She says we need to tell more of their stories and create a culture where it’s okay to put your hand up and say you’re doing well.
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Australia's Reserve Bank has lifted the country's Official Cash Rate 25 basis points, to 4.35 percent.
The move was expected by economists and financial markets, fearing the Middle East oil crisis could worsen inflation before it gets better.
HSBC Chief Economist Paul Bloxham explained the move further.
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Despite the mounting concerns about the economy and the ongoing Middle East conflict, New Zealand's rural sector is booming.
Reports reveal farm worker pay growth has levelled off after a post-Covid period of rapid growth.
The Country's Hamish McKay explained further.
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Westpac's CEO says they have noticed changing customer habits in the backdrop of a tougher economy.
The bank's half-year profit is up four percent, with its net profit rising to $545 million dollars.
It's down 19 percent on the previous six months.
CEO Catherine McGrath says businesses are getting good at controlling what they can.
"There's a little bit less money being spent on things like hospitality and retail spend - with businesses, some of them are pausing a bit on whether they want to do their expansion plans."
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Donald Trump has floated the idea of the US guiding neutral ships out through the Strait of Hormuz, and it's made an impact on the oil markets.
The Brent oil price was little changed above $108 a barrel, after falling as much as 2.4 percent at the open - below last week's $118 high.
Harbour Asset Management expert Shane Solly explained further.
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