Households closing their wallets as consumer confidence falls

Source: Radio New Zealand

RNZ

  • Consumer Confidence falls to 91.3 points from 100.1 in February
  • A net negative 14 percent of households think it is a good time to make a major purchase
  • A net 10 percent expect to be better off this time next year, down from last month’s net 20 percent
  • A net negative 20 percent of consumers fell worse off now, down from last months minus 16 percent
  • Consumers believe inflation will rise to 5.7 percent in the next two years

The Middle East conflict has torpedoed consumer confidence in March, and early evidence suggests households are closing their wallets.

March’s ANZ-Roy Morgan Consumer Confidence index fell sharply into negative territory at 91.3 points, well below last month’s 101.1 points.

Any score under 100 indicates pessimism.

The impact of the Middle Eastern conflict on consumers was immediate, with every metric in the latest survey turning negative.

ANZ said the conflict created significant uncertainty for the economic outlook and was already hitting people in the back pocket.

It said the hit to confidence would likely be negative for growth and it was reasonable to believe that both firms and households would think twice about making making spending decisions, in case things went from bad to worse.

Consumers were caught in a perfect storm in March, hit by higher fuel prices and rising mortgage rates.

Chief economist Sharon Zollner said the data was even worse in real time than the headline suggested.

“It’s not the full story because we can actually look at it as the month evolved, and in the last week of sampling it was (consumer confidence) under 80,” she said.

Zollner said the same pattern had repeated across the Tasman where Australian consumer confidence had “dropped like a stone”.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Synlait juggles high milk price risk with retaining farmer-suppliers

Source: Radio New Zealand

A Synlait milk truck. Synlait/supplied

Paying dairy farmers a premium for their white gold could come at a cost to Synlait Milk, according to an agribusiness expert.

The Dunsandel-based processor and exporter increased its farmgate milk price this week to up to $9.90 per kilogram of milk solids for the financial year, 20 cents higher than competitor Fonterra’s new current season midpoint.

But it also released what bosses labelled a “frustratingly disappointing” half-year financial result, due to manufacturing challenges and inventory kerfuffles between raw and powdered milk through 2025.

It reported a $80.6 million loss in the six months to late January, while debts soared to $472.1m.

Lincoln University senior lecturer in agribusiness Dr Nic Lees said the company was under significant financial stress, which could affect farmer confidence.

“Farmers do have options. I suspect this result’s not going to add confidence amongst farmers that there isn’t a financial risk for them supplying Synlait.”

Lees said the company’s sales were no longer covering the direct cost of making and processing its products. He said paying farmers the higher milk price added to the pressure, increasing raw material costs, but he could understand the strategy.

“They need to be able to be offering their suppliers something more than what they can get from supplying Fonterra or Open Country,” he said. “They are having to pay a risk premium to their suppliers to try and hold those.”

  • Do you supply Synlait? Let us know your thoughts monique.steele@rnz.co.nz

He said Synlait faced fixed retail pricing in “onerous” customer contracts, making it more vulnerable to fluctuating global prices – which differed to how Fonterra could pass on costs.

“In some ways from Fonterra’s point of view, the higher milk price is beneficial to their farmers. Whereas from Synlait’s perspective, higher milk price means higher costs for their raw materials, which potentially is difficult to directly pass on to their customers.”

Lees said Synlait was lucky to have major long-term shareholders like Bright Dairy of China that had significant financial scale, so the losses would not threaten the overall business.

But he said the results showed the challenge of going down the “value-add pathway” into retail, like into its consumer brand Dairyworks.

It came as Fonterra divested its consumer brands business under Mainland Group, for dairy products including ice creams and cheese.

This week, Fonterra announced its net profit for the six months ended January rose 3 percent on last year to $750m.

Synlait milk on the production line. Supplied/ Synlait

Poor 2025 results don’t reflect future – company

When publishing the results to the New Zealand Exchange, Synlait Milk chief executive Richard Wyeth and chairman George Adams told investors the financial result did not define the company’s future.

“Many of you, like us, will find today’s numbers frustratingly disappointing – we are all hungry for positive financial performance,” the joint statement read.

“The result reflects a period where Synlait faced multiple headwinds with little choice as to how to deal with them.”

Synlait’s “realistic” roadmap to recovery sought to position it for future growth, grow high-margin products from existing assets and accelerate growth and future growth opportunities.

Last year, the dairy company sold its North Island operations, including its Pōkeno site, for $307m to help the balance sheet.

It said on Monday the sale was on track to be completed from 1 April.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

The ‘McDonald’s hamburger’ of cricket bats that could hit high prices for six

Source: Radio New Zealand

123rf

George Fox didn’t set out to be a bat manufacturer – his expertise is making protective equipment for cricketers. Although even that began more by accident than design around 13 years ago.

A friend was a professional cricketer, and Fox wasn’t impressed by the standard of some of his protective gear and made a bet he could do a better job.

“I said, ‘I bet you a pint. Your thigh pad’s rubbish mate, let’s have a go.'”

It’s safe to say Fox won the bet. Through word of mouth his bespoke thighpads and protective equipment grew into a business under the Stretton Fox brand name.

Based in the English town of Market Harborough, Fox got to know bat makers and heard their complaints about the rising cost of raw materials – namely English willow.

The MCC, cricket’s law makers, even held a conference last year to address the rising costs of bats and willow.

Part of the reason is limited supply – aside from the cane handle, quality cricket bats are virtually all made from English willow. It’s light, flexible, and when prepared by a skilled batmaker acts almost like a mini trampoline, sending the ball flying to and over the boundary.

But as the name suggests, English willow grows best in England and takes upwards of 15 years to be ready for harvest. The tree is felled, cut into rounds which are then split into clefts, which are then shaped into bats.

When he found out less than half of the wood actually makes it into the finished bat, Fox started thinking, “How do you create a McDonald’s hamburger version of a cricket bat?”

The secret formula

Using his training as a material scientist, he’s worked out a method to turn the willow leftovers – including shavings and saw dust – into what he describes as a “willow porridge”. That mixture is then poured into a cricket bat-shaped mould.

“Within 10 to 15 minutes you’re pulling out a cricket bat,” Fox said.

The bat needs a week or two to fully harden, but is then ready for match play.

Fox calls his bats ‘ Re-Willow’. The exact method is a patented secret. Fox said up to 95 percent of the bat is made from willow and wood-derived resin.

“Then about 5 percent of it is very clever chemistry, which is the bit that makes it do what it does. So that’s my Coca-Cola recipe, if you like.”

Because the blade of the bat is made from wood, it complies with MCC laws. It’s still a work in progress though.

Cricket bat willow is graded mainly on looks, but also performance. Fox reckons his bats currently perform as well as grade three English willow.

“The grading’s tricky, but everyone kind of gets it in terms of the bounce and the ping. I reckon that within six to eight weeks, we’ll be at grade two/grade one.”

Currently a top-of-the-range bat can cost well over $1500. Fox says his ‘Re-Willow’ bats will retail for around $200 for an adult size.

Fox doesn’t see his bats as a replacement for English willow bats, but hopes they’ll help lessen the cost barrier of getting into the sport, particularly for kids.

Fox said he’s been contacted by cricket academies around the world who tell him, “We just can’t, for love nor money, get hold of good quality cricket bats.”

If everything goes to plan, Fox’s Re-Willow bats will be on the shelves before the end of the year.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

All set for another star-studded, high finance Indian Premier League

Source: Radio New Zealand

Kyle Jamieson of Punjab Kings celebrates a wicket, 2025. ARJUN SINGH / PHOTOSPORT

The Indian Premier League heads into its 19th season this weekend with the best short-format players from around the globe playing for big money.

Here is everything you need to know about the 2026 IPL.

Money

  • The IPL is the richest franchise T20 competition in the world with an estimated value of $30 billion.
  • The most valuable franchise is Royal Challengers Bengaluru at an estimated $3b.
  • The League generates around $2.3b annually, primarily from broadcast rights.
  • The 10 franchises had a combined total of $50 million to spend on the player auction in December.
  • Kokata paid $4.78m for Australian all-rounder Cameron Green.
  • The IPL winners will collect $5m.

Owners

  • The IPL is owned and run by the Board of Control for Cricket in India, while the individual franchises are owned by various multi-national companies, celebrities, individuals and private equity groups.
  • In March Royal Challengers Bengaluru was sold by the Indian arm of UK-based drinks giant Diageo to a group headed by Aditya Birla Group which specialises in cement, fashion, metals and chemicals.
  • Bollywood is heavily involved including actor Shah Rukh Khan who is a part owner of the Kolkata franchise and Preity Zinta who is with the Punjab Kings.
  • Many of the celebrities attend matches to add some extra sparkle and increase the fan-base for their teams.

History

  • The first tournament was played in 2008.
  • Most wins; Five, Mumbai Indians (2013, 2015, 2017, 2019, 2020) and Chennai Super Kings (2010, 2011, 2018, 2021, 2023)
  • Current champions; Royal Challengers Bengaluru.

Rachin Ravindra of Chennai Super Kings. © R Param / Sportzpics for IPL 2025 / PHOTOSPORT

New Zealand involvement

Twelve New Zealanders are taking part in the 2026 competition with eight of those picked up in the auction.

  • Chennai Super Kings; Matt Henry, Zak Foulkes. Coach Stephen Fleming.
  • Delhi Capitals; Kyle Jamieson.
  • Gujurat Titans; Glenn Phillips.
  • Kolkata Knight Riders; Tim Seifert, Finn Allen, Rachin Ravindra.
  • Mumbai Indians; Mitchell Santner, Trent Boult.
  • Punjab Kings; Lockie Ferguson.
  • Rajasthan Royals; Adam Milne.
  • Royal Challengers Bengaluru; Jacob Duffy.
  • Sunrisers Hyderabad; Coach Daniel Vettori.

Virat Kohli of Royal Challengers Bengaluru celebrates their IPL win, 2025. ARJUN SINGH / PHOTOSPORT

Records

  • Highest innings score, 287/3 by Sunrisers Hyderbad against Royal Challengers Bengaluru in 2024
  • Highest score, 175* Chris Gayle. Also has most sixes 357.
  • Most total runs, 8,661 Virat Kohli (2008-present)
  • Most wickets, 221 Yuzvendra Chahal (2011-present)
  • Best bowling figures, 6/12 Alzarri Joseph for Mumbai Indians against Sunrisers Hyderabad in 2019.
  • Most appearances, MS Donhi 278 (2008-present)

Format

  • Double round-robin before the top four teams meet in the play-offs.
  • Competition runs from 28 March to 31 May.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

NZ netball franchises rule out Australian Super Netball expansion bid

Source: Radio New Zealand

ANZ Premiership players are taking a pay cut this year. Photosport

Several New Zealand netball franchises explored joining Australia’s expanding Super Netball competition, but have ruled it out as financially unviable.

Australia’s governing body confirmed last year it was considering adding two new teams to the Suncorp Super Netball (SSN) from 2027, and was open to expressions of interest from New Zealand.

While neither Netball New Zealand nor Netball Australia would confirm whether a formal bid was submitted before last month’s deadline, RNZ understands investigations were carried out by both the national body and local franchises.

Magic team relationship manager Gary Dawson said the opportunity generated interest, but the costs involved made it unrealistic.

“I know that some zones had a look at it and thought ‘no we can’t it’s not viable for us’.”

Netball Australia invited expressions of interest from parties interested in acquiring a new licence, including private-ownership groups, existing SSN licence-holders, and entities affiliated with other codes.

“That’s been something that I know that not only has Netball NZ looked at but I think there have been interested parties in New Zealand outside of Netball NZ who have looked at that and I’m not sure where that stands.

“My understanding is that yes Netball NZ has certainly looked at it but my understanding is it’s not necessarily part of their plans at the moment.”

Dawson said some of the zones, who generally own and operate their ANZ Premiership teams, quickly realised it wasn’t feasible.

“Just about all of us sort of had a look at it but when you do the numbers you have to be pretty ambitious if you’re a zone to even look at it I would have thought. My understanding is none of them have put a bid in, some may have, I’m not sure.

“For Magic it was just out of the question anyway because we’ve got to get our own house in order before we even think about Australia.

“Our focus really at the moment has been on getting this year up and running and making it a great competition but also working with Netball NZ to make sure we’ve got plans in place for next year and beyond.”

The Tactix were crowned maiden title winners last year but lost seven players soon after. Andrew Cornaga/www.photosport.nz

Dawson, a former Waikato Rugby and Chiefs chief executive, said just pursuing an SSN licence would take a lot of time and resource.

“Then you would have to pay a licence fee to join, you’ve got a whole bunch of costs like who pays for trans-Tasman travel, player remuneration is another kettle of fish, you would have to meet whatever their salary cap requirements are and all that sort of stuff so it’s a whole new ball game when you look at that competition so you would have to have pretty strong financial backing from sponsors or private equity to be able to put in a bid I would imagine.

“It’s really up to Netball NZ to decide when they look at the different financial models and so on what they can afford or not.

“Personally I don’t think it’s a big deal, I think all the focus is really going on the ANZ Premiership and making sure that it’s a great competition this year and we come out of it strong with a good product that we can go into following years with.”

Dawson said it was still possible that a private consortium in New Zealand could have put together some sort of bid.

“There could be private interests who said ‘let’s create a team to enter in the Australian league’, a bit like the Warriors or Auckland FC – that’s certainly a possibility, other organisations have done that, but I don’t know.”

NNZ exploring 2027 options

The six franchises are about to enter another ANZ Premiership season under a cloud of uncertainty as to where its future lies, with no broadcast deal in place yet from 2027.

The ANZ Premiership was launched in 2017 after the demise of the former trans-Tasman league. PHOTOSPORT

Dawson said Netball NZ had been working with the franchises and other key stakeholders over the future of the domestic competition, which starts on 11 April.

“To figure out what 2027 and even 2028 could possibly look like. They’ve come to us with a timeline and the different pieces of work that need to be done to come to decisions about next year and the year after.

“I would hope that by the end of April, early May at the very latest, that we have an indication from Netball NZ as to what 2027 will look like. Just from a practical point of view, we have to book venues, we have to start talking to potential sponsors and all those sorts of things.”

The look and feel of the ANZ Premiership has not materially changed since its inaugural season in 2017 and Dawson said the national body was exploring all sorts of options.

“I’m not across all of them but looking at a number of options as to how we could have different leagues or a league running next year and until all that work’s done and they’ve made their decision, it’s just speculation at the moment but I do know they are looking at a variety of options for what will I think ultimately be the best outcome given the circumstances.”

Dawson said everyone had to be adaptable when there was less money in the system.

“The players have taken a 20 percent pay cut this year but the quid pro quo there is that they are also not expected to train as much as they have in the past so while they’re earning less they are doing less work technically.”

He said they have had to tighten their spending across the board.

“That’s been a fact of life for just about all franchises for the last four or five years that we run on a pretty tight budget, the revenue from sponsorship gets harder and harder and obviously through Netball NZ with the broadcast rights, that revenue has reduced so it is a difficult environment financially.”

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

NRL: NZ Warriors star Roger Tuivasa-Sheck confirms move to Wakefield Trinity

Source: Radio New Zealand

Roger Tuivasa-Sheck has been a Warriors fan favourite – on and off – since 2016. Photosport

NZ Warriors star Roger Tuivasa-Sheck has confirmed his rumoured move to English Super League club Wakefield Trinity at the end of the current NRL season.

The league/union double international is a former Warriors captain and the only player from the club to win the Dally M Medal, as the competition’s Player of the Year.

… More to come

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Government reveals details of fuel crisis rationing plan – and who will be prioritised

Source: Radio New Zealand

The government has fleshed out its National Fuel Plan, outlining rationing measures that would be taken if supplies start running dry.

Resembling the Covid alert levels, the plan has four ‘phases’. New Zealand is at phase one.

Phase 2 would see homes, businesses and the public sector encouraged to conserve fuel.

The higher phases are still under consultation.

Phase 3 would see fuel prioritised for life-preserving services and phase 4 would see stricter intervention in fuel distribution.

Moving up or down levels is decided by a ministerial oversight group based on fuel stocks, restrictions and supply chain data.

“While there is currently no need for fuel restrictions, the public can be assured that the government is planning carefully, acting early and making sure New Zealand is well positioned to respond, whatever the global environment brings,” Finance Minister Nicola Willis said.

“Ensuring New Zealand has the fuel we need to protect jobs, livelihoods and the wider economy is our first priority in managing the impact of global fuel disruption.

“The updates released today give practical effect to the National Fuel Plan established in 2024 and reflect the specific potential risks New Zealand could face as a result of major fuel disruption driven by the conflict in the Middle East.”

Minister Shane Jones, responsible for fuel security, said the updates were developed alongside the fuel industry.

“This is critical because the plan relies on fuel companies cooperating and working constructively with government,” he said.

“My expectation is that we continue to work together as the situation evolves. The industry will play a key role in providing advice to the Ministerial Oversight Group if and when we are required to consider a move between phases.

“New Zealand has sufficient fuel stocks, but we are planning for potential scenarios where obtaining future supply could become increasingly difficult.”

The criteria for changing phases were:

“The plan is designed to keep fuel flowing where it matters most, relying on market settings wherever possible, and only stepping in further if supply is genuinely at risk,” Willis said.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Live: Restrict, ration or advise? Nicola Willis to outline national fuel plan details

Source: Radio New Zealand

Follow live updates in our blog above.

Finance Minister Nicola Willis and Associate Energy Minister Shane Jones are set to explain the triggers that would prompt fuel restrictions, rationing or guidance.

Willis assured voters in her answers to questions in the House on Thursday that “we will not be changing the fuel response overnight”.

She and Jones are due to hold a media conference at midday.

“We will also provide more information about the criteria we will use to assess when a change in the response phase is required,” Willis said.

“This would include changes like the amount of fuel in the country,” she said.

Willis also told MPs in the House that the government’s goal was to “avoid ever getting to response phase three or four”.

“These are envisaged in the national fuel plan as the point at which prioritisation of fuel would be required.

“Our goal is to be doing enough to source the supply of fuel internationally that that does not become necessary, and by taking sufficient actions in response phases one and two, that we wouldn’t reach phase three and four,” she said.

Willis also doesn’t expect the government would need to be “skipping through the response phases” of the alert level framework.

Petrol, diesel, and jet fuel would be able to be treated at different alert levels under the framework.

Follow the livestream and updates in our blog at the top of this page.

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Government may pause fuel taxes increases

Source: Radio New Zealand

Transport Minister Chris Bishop speaking at the Automobile Association’s annual conference on Friday. RNZ / Marika Khabazi

The government may put on hold its plans to raise fuel taxes next year, as it deals with how to respond to the fuel crisis.

National campaigned on not lifting fuel taxes at all in its first term, which Transport Minister Chris Bishop maintains was “the right thing to do” in a cost of living crisis.

Instead, the government plans to bring in a 12 cents per litre increase from January 2027, followed by a 6 cents per litre rise in 2028, and 4 cents per litre in subsequent years.

Fuel taxes are set at a flat rate per litre, meaning they do not go up or down as the price of fuel does.

The government has been resistant to cutting the fuel tax in the crisis, wary that doing so would subsidise demand.

The transport system is supposed to be user-pays, but Bishop said increasingly it was coming from general taxation.

Speaking to the Automobile Association’s annual conference on Friday morning, Bishop admitted that not raising fuel excise duty had deferred the issue of how the government funds transport infrastructure until later.

Chris Bishop says Kiwis’ transport habits are changing during the current Middle East crisis. RNZ / Marika Khabazi

But he hinted the government may defer the anticipated rise further.

“I have to be honest with you, the idea that we would raise fuel tax during a fuel crisis doesn’t seem like a starter to me. So we’re thinking hard about these funding challenges. They are real, and they do exist.”

The government’s intention is to replace all fuel excise duty with road user charges, which diesel and electric vehicles already pay.

Bishop also said people’s transport habits were changing in response to the conflict.

Comparing the two weeks pre-conflict in mid-February with seven-day rolling averages in the subsequent weeks, Bishop said there had been a reduction of approximately 20 percent in vehicle kilometres travelled by car.

“This is not necessarily surprising when petrol prices are up about 30 percent. Also not surprising is that people are responding in a predictable way, they’re using public transport more.”

Public transport boardings were up more than 10 percent in Auckland and Wellington.

Last week also saw the highest number of electric vehicles registered since the end of 2023, around the time the new government abolished the Clean Car Discount scheme.

Year-do-date EV registrations were nearly 2000 higher than this time last year.

But Bishop was adamant the government would not bring back the discount, saying people who did not have the ability to make the transition to EVs were having to pay more, to give money to people who could make the transition.

“It was a regressive wealth transfer policy, and so we will not be bringing back the Clean Car Discount.”

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Woman missing in Auckland found after police appeal

Source: Radio New Zealand

Supplied / NZ police

A 50-year-old woman who was reported missing from the Birkenhead area in Auckland has been found on Friday morning.

Earlier today, police had appealed for sightings of Jacqueline who was last seen near Fernglen Gardens on Kauri Road at around 12.30pm on Thursday.

Police and Jacqueline’s family had been concerned for her wellbeing and wanted her to return home.

In a statement, police thanked members of the public who shared the appeal and the information provided to them as a result.

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