Best of Business

Sam Dickie: Fisher Funds expert on Microsoft cutting over 4,000 jobs as a result of AI

Microsoft is cutting 4800 jobs - about two percent of its global workforce - in a sweeping restructure. Most cuts are part of a restructure of its struggling Xbox gaming division. It's the latest in a string of mass layoffs by the tech giant alongside major investment in AI. Sam Dickie from Fisher Funds explained the implications of this move. LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

John Ambler and Duane Emeny: NZ Jet owner and Air Chathams CEO on the calls to reform the Civil Aviation Authority

A private jet company boss has voiced concerns about what could happen if there's not reform at the Civil Aviation Authority - and he's taken these worries to the Government. NZ Jet owner John Ambler has heard concerns from former and current CAA staff about the organisation's culture.  He says it includes an erosion of expertise, and operators fearing they'd be punished for raising concerns.  "We are losing experienced people within the civil aviation department at a great rate...it's alarming. And obviously, if these people within the unit aren't able to speak up for fear of reparations - what sort of system have we got?" Meanwhile, Air Chathams CEO Duane Emeny says there was need for change three years ago, and that Minister Simeon Brown acted quickly.  "He got quite a few new board members in, the whole leadership team in the CAA changed and, actually, we can sit here today and say, quite confidently, that we are seeing some of the good and positive outcomes of those changes." LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Jenee Tibshraeny: NZ Herald Wellington business editor on the concerns raised over NZ employment contracts

People are not moving between jobs as seamlessly as they should in a productive economy, thanks to overly restrictive employment contracts. This is the conclusion reached by the Organisation for Economic Co-operation and Development (OECD), after a major new study spanning 15 countries including New Zealand. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Remy Wisenberg: Milford Asset Management expert on whether the markets price in the OCR increase

The OCR has been increased for the first time in three years, and it's prompted a divided response among experts. The Monetary Policy Committee's unanimously agreed to raise the cash rate to 2.5 percent. Milford Asset Management's Remy Wisenberg unpacked the reactions further. LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Perspective with Heather du Plessis-Allan: Anna Breman delivered a refreshingly boring OCR update

The Official Cash Rate has gone up by 25 basis points. This is the first rise we've seen in three years. It was unanimous around the committee table that it needed to happen because of inflation. Even though petrol and diesel prices have fallen sharply since the Iran war ceasefire deal was struck, they're not back to pre-war levels yet and they won't be for some time. That, of course, is inflationary. You know what struck me, though? Even though this is the first hike in the Official Cash Rate in three years and even though there wasn't consensus among high-profile economists that this should happen - I mean, plenty of them were calling very strongly for it to be held for the sake of the economy - there isn't nearly as much angst around this as there was around any of the decisions Adrian Orr made. Even when they were decisions we wanted, we still got angsty because they were either too late, too early or whatever. Instead, the news conference was boring. So boring, in fact, that it was refreshing. Anna Breman slowly talked us through the decision with a slideshow. She let Paul, on one side of her, pipe up occasionally. Karen, on the other side, was also allowed to chip in. She took questions from journalists on video link. She explained really basic economic concepts to them. The impression you got the whole way through was that Anna Breman is in control. Because we knew this. This was not a surprise. We knew it was coming. It was very well signalled. Seventy percent of economists were expecting it. The market had priced it in. The NZIER Shadow Board was picking it. There was, as I say, consensus around the committee table. It gives the impression that she's not the victim of a knee-jerk reaction but is instead being quite deliberate in the path she's taken. You could argue that her job right now is every bit as hard as Adrian Orr's was, at least towards the end of his tenure. Because this Iran stuff is really mucking around with forecasts, isn't it? That news conference was so boring - and so angst-free - that it gives me some hope. The further we get away from COVID, and from the characters who were around during COVID, the more things might return to their boring averages. Maybe we'll get on with each other and get on with the jobs we're supposed to do a lot better. LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.