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Chapter 1: What claims does Todd McClay address regarding the India FTA?
Is all the money wasted on international level lemonade? Calm down, it's Pirkka! New Pirkka fan products only from K-food stores. Still Pirkka. For 40 years.
No fluff, just facts and fierce debate. The Mike Hosking Breakfast with Aveda Retirement Communities. Life your way. News Talks at B. Morning and welcome.
Good news on the economy as Westpac sees life. Are you going to go borrow cheap money to stick a solar panel on your roof? Tama Potaka and his conservation back down this week. Tim and Katie do the week. Rich and Arnold Murray Olds, they rock on as well. Friday, seven past six.
Chapter 2: What is the latest news on the New Zealand economy?
Been a bad week for maturity as far as I can work out. Trump suggesting Maloney begged for a photo opportunity is all that's petty and pathetic about a bloke who's got bigger fish to fry. Simeon Brown treating his business partners with verbal contempt by calling them children. I mean, not the crime of the century, but not good conduct from people running countries.
But it all pales against the astonishing nonsense peddled mainly on social media by those opposed to the so-called conservation change. Now, this is not about whether those changes are half decent or not. I mean, personally, having read it all, It's hardly the end of the world and a lot of it may well lead to better, smarter outcomes for the estate.
But I came to that conclusion by actually informing myself, which will be a great upset to the peddlers of the lies, because it became clear fairly quickly they were not interested in the truth, more the alarmism that a misleading headline can produce.
Social media gets blamed for a lot and it is true that there are tsunamis of nonsense on it but it is at all time and has always been the case that it remains our responsibility to sift through and work out what's real and what isn't but sadly that's theory not reality and that is why the conservation scrap got so out of control because people too often on their feed
See a headline, swallow it, hook, line and tramping path. There'll always be, especially around contentious issues, a bit of fizz, a bit of hyperbole, a little colourful theorising, but this week has been a joke.
Between the Greens and Forrest and Bird and their other worm-loving mates, the Coromandel's for sale apparently, billionaires are buying up Mount Cook and you'll be charged to enter the South Island. All I ask is we try harder. Defend your corner, argue your case, point out the pitfalls, problems and failings, but don't make it up.
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Chapter 3: Why did Tama Potaka change his stance on the Conservation Amendment Bill?
Don't put it out there in a way you know will be misrepresented and run with. Those behind this week's campaign are bollocks, know people are busy and they know they have limited time to consume detail. So they prey on that for political advantage. It's our responsibility, yes, to be properly informed, but it is those who run the place's job to do it on a level playing field.
Hysteria and lies and deliberate manipulation should be crimes, but given they're not, all we can hope for is a better version of adults.
News of the world in 90 seconds.
Venezuela. The airport is a mess. It's shaking. It's shaking, says this man. Look at the damage in the airport. See how everything has been ruined. First responders are facing chaos.
Volunteers can have the will to go and help, but they can also put themselves in danger. So it's a very tricky situation.
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Chapter 4: What are the implications of social media on political opinions?
There are a lot of police officers, National Guard trying to help. Everyone's on edge.
There is a building that has been collapsed, but nearby is another one that's just about one more earthquake and it is going to collapse also. Damages are around 80% of the buildings around the area. In the meantime, in Britain, the weather is still an issue as they break another record after yesterday's record. Of course, in hot weather, what you need is high-quality advice.
We're having COBRA meetings at the official level to monitor what's going on, give the appropriate advice.
It falls to me and others to say, take care, be sensible with precautions, and schools are going to have to decide, and they are deciding, most of them finishing a little bit early.
I mean, honestly, what would you do without a Cobra meeting in hot weather, eh? Fellow traveller Sadiq of Londra also has been at the whiteboard of ideas.
We already have on legislation, through the Health and Safety Executive, a minimum temperature below which people shouldn't be working. We've got to be dexterous and flexible when it comes to maximum temperature because there's not a one-size-fits-all.
For God's sake, I mean, why do they go to these clowns? Finally, Mexico and a bloke fed up with motorbike thefts has become what they call the Batman of Lagos de Moreno. He's captured five thieves in ten days.
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Chapter 5: How does the All Whites' performance impact New Zealand's football reputation?
He ties them to a light pole through a traffic light with duct tape and writes people on their foreheads. And then he draws a little mouse moustache on them. Locals love it, of course, but the feds are not so impressed that they're trying to round them up as we speak. Here's the world in the 90s. Trump's got more economic trouble.
Core personal consumption expenditure price index 3.4%, up 0.3% in a month. This is inflation. Fed's primary inflation gate, 4.1%. Only counter to that is despite all of that, consumer spending still came in stronger than expected. So despite the inflation, people are still at the shops. 11 past 6.
The Mike Hosking Breakfast full show podcast on iHeartRadio. Powered by Newstalk ZB.
Not sure what to make of this, but Ferrari's marketing boss, and he's been there for 16 years, a guy called Enrico, quit overnight. They're trying to connect it to the Luce, which has been a dog, barks like a dog, but it's not his fault.
Chapter 6: What are the key features of the new tourism policy introduced in New Zealand?
I mean, he didn't design it. You can't sell a dog. You can't put the lipstick on the pig and expect people to pay a million dollars for a car. Anyway, he's, quote, decided to embark on a new chapter in his personal journey, which sounds like he was sacked. 14 past. Insurance partners, Andrew Tallahood. Good morning. Very good morning, Mike. It's nice to be courted, isn't it?
And THL will be feeling that way at the moment, won't they? Yeah, things are holding up over at Tourism Holdings. Look, there's a fair bit of technical stuff that's coming into play now. We'll try and demystify some of that. Unfortunately, the bottom line is that there's probably now an increased chance that another company could be taken out and leave the NZX, and that is an ongoing concern.
Chapter 7: What challenges are faced by the New Zealand First party regarding trade agreements?
Okay, so what's going on here? Tourism Holdings, listed business on the NZX, but has business exposures outside of New Zealand as well. Clearly a technical business, and COVID was a pretty significant event for them, but we're seeing global tourism recovering, and the future looks pretty positive, I think, for THL.
Now, they released an announcement yesterday informing the market that they had received a non-binding indicative offer, so a takeover offer essentially, from a party that the THL board considers to be a credible strategic buyer looking to acquire 100% of the company. Now, that all sounds pretty straightforward, doesn't it?
The problem here, though, the very important other detail is that they already have a takeover offer on the table from a consortium called BGH.
consortium that was received in 2025 and only two weeks ago that consortium improved that offer so yesterday as part of the insects announcement thl said that they want to remain in negotiations with that initial consortium bth and then they talked a lot about the terms in which they'll continue engagement basically trying to keep the terms consistent between the new offer and the old and the old offer so
It allows the BGH Consortium to continue their due diligence in essentially the same manner. Now, BGH Consortium already owns or, sorry, controls 19.9% of THL. That's the highest amount of the company you can own without automatically triggering a mandatory offer. Now, the new offer... from BGH. They improved it to $3.10 per share. They originally, back in June 2025, offered $2.30 a share.
This undisclosed new buyer has trumped that and pitched their new offer at $3.30 to $3.40, has a number of conditions there.
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Chapter 8: How does the podcast analyze the current state of international relations?
What does this all mean, Mike? Well, at the end of the day, it means you've now got a competitive situation. That's now something the board has to manage. And essentially, at the end of the day, the board has to make a recommendation to shareholders on what they do.
I think what we can say, as I said at the beginning, it increases the possibility that a deal is done, but that is by no means a certainty. So yesterday, the share price was up 13.3%, $2.89. We've just got to have a watching brief now and see what happens. Interesting. What do you make of the Australian unemployment number? Headline looks okay, but were there enough jobs being created?
There are things softening up a bit there? You dig into the weeds. On the face of it, it looks pretty good.
You dig into the detail and maybe it's not quite as good as the headline looks. So we know that Kiwis love to head across the Tasman looking for work. So the state of that labour market is quite relevant.
Monthly employment data released yesterday. So the bottom line is that the labour market rebounded in May, following what was an unexpectedly soft result in April. So seasonally adjusted unemployment rate fell to 4.4%. Now, we're looking here at an unemployment rate in excess of 5%. So it does look a little stronger than the labour market here. They added 40,000 jobs.
That was way more than people thought they were going to add. But after you break it down, there was only 5,000 full-time jobs. That was almost all part-time jobs. The underemployment rate, 5.9%. So, as I say, it's not quite as perky when you dig down into it because the April employment number, the employment fell by 18,500 jobs. That's been revised to a fall of 40,000 jobs.
There are also maybe some sort of technical issues in there around calculation of population and stuff. So the level of employment in May is actually slightly below where they were at in March. So I guess if you want sort of a big picture snapshot of this, annual employment growth in Australia continues to run behind population growth. So that's probably not the way around that you want that.
So there are current challenges for the Aussie economy. So a bit mixed, I think, would be the verdict there. Righto, numbers, numbers. OK, it's all good. The Dow Jones is just a smidgen over 52,000. 52,078, it's up 229 points, 0.44%. The S&P 500, though, is down 12 points, 7346, 0.16%. And the Nasdaq's sort of hovering around break-even, really. It's down 0.1%, 25,451.
The FTSE 100 gained 0.65 overnight, 10,529. The Nikkei had a storming day. up 3,191 points, 4.6%, 72,366, about a quarter percent gain on the Shanghai Composite, 4,120 there. The Aussie market on those employments actually fell a little bit yesterday, 0.68%, down 60 points, 8748. But we had a good day on the NZX50, up 92 points, 13,493.
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