Bernard Hickey reviews the day's business news with Duncan Garner at RadioLive, Tuesday during drive-time, November 8, 2016.
You can hear their discussion here.
The Commerce Commission grew a pair today and effectively blocked the NZME/Fairfax merger today, saying it would create a company with more than 90% of the print newspaper market. Only China's market is more concentrated, it said.
NZME's shares fell 24% or 16c/share to 50c, which means NZME is now worth less than NZ$100 million and almost half its level from August.
Statistics NZ's new Household Living Costs Index have called into question the Government's regular claims that households are better off over the last 8 years because incomes have risen more than wages. The new Indexes show the poorest 20% have seen their living costs rise 18%, while the CPI is up 13%. Beneficiaries incomes, which are indexed to CPI less tobacco costs, rose just 11%, but their living costs rose 16%. They also show superannuitants costs rose 19%, but their incomes are up 27% because of indexation to average wages. It strengthens the case for benefits to be indexed to living costs for beneficiaries, including tobacco costs. It also shows how important interest rate cuts are in making property owners richer and renters poorer.
There's another Chinese takeover of a meat processor. Blue Sky Meats.
This content was first released by RadioLive, and is here with permission.