Nine To Noon for Tuesday 27 August 2024

09:05 Second tier lenders quit NZ: does this diminish competition for big banks?

Three second tier lenders have quit New Zealand in the last year - and those in the sector say it means less competition for the big banks. Non-bank mortgage lender Bluestone Home Loans announced last week it would exit New Zealand, and will stop accepting new home loan applications from this Friday. Another large provider, Resimac, pulled out on July 1, while last year HSBC ceased second tier lending here. Non-bank mortgage lenders give loans to higher risk borrowers, unable to meet regular bank criteria because, for example, they are they are self employed, or don't have a big enough deposit. Last week the Commerce Commission released a report about the need for more competition for the big four banks, recommending the government-owned Kiwibank  be strengthened and more progress be made on so-called open banking. So what does the exit of these second tier lenders mean for that competition? Kathryn speaks with David Cunningham Chief Executive of mortgage broker Squirrel and Massey University Associate Professor of Banking, Dr Claire Matthews.

09:30 The nutritionist working out why we can't stop eating ultraprocessed foods

Why is it so hard to stop eating ultraprocessed foods once you've started? A team of US researchers are trying to find out. They've already found that weight gain from so-called unhealthy diets is less about the ingredients and more about the amount they've been processed. A 2019 study found people eating processed foods were more likely to eat more. Now the study is being repeated, and nutrition & metabolism scientist Kevin Hall is using it to work out what it is about those foods that makes people over-eat.

09:45 USA correspondent Ron Elving

Independent presidential candidate Robert F. Kennedy Jr. has suspended his campaign, encouraging his supporters in key states to back Donald Trump instead. And Ron covers off how Presidential Nominee Kamala Harris handled the spotlight at the Democratic National Convention.

 

Ron Elving is a Senior Editor and Correspondent, Washington Desk for NPR news.

10:05 Kiwi actor Leon Wadham on his power-hungry Rings of Power character

Growing up in Wellington - in full Lord of the Rings fever in the early 2000s - Leon Wadham had no inkling how much of Tolkien's world he'd one day be a part of. The New Zealand actor plays the character of Kemen in the latest screen iteration of Lord of the Rings: Amazon's big budget production The Rings of Power. The series is set in the Second Age of Middle Earth, which is thousands of years before events in the Hobbit and Lord of the Rings novels. The 35 year old has been in a number of New Zealand film and TV productions over the year including Go Girls, Terry Teo, Under the Mountain and The Brokenwood Mysteries. But his big break came during the pandemic. He speaks to Kathryn about the new era the show is exploring.

10:35 Book review: Wild, Wild Women by Janis Freegard 

Sonja de Friez reviews Wild, Wild Women by Janis Freegard published by At The Bay

10:45 Around the motu: Jimmy Ellingham in Palmerston North

As rain hits the lower North Island so far it's spared the Tararua District, but Jimmy says that wasn't the case a week ago when heavy rains in the region meant rivers ran high and surrounding land was under water, while slips blocked roads. And Palmerston North City Council has voted unanimously to retain its Māori wards.

11:05 Business commentator Victoria Young

The Court of Appeal has upheld an Employment Court ruling that Uber drivers are employees rather than contractors.
Four drivers took a case against Uber, backed by unions E tū and First Union. It's earnings season and Victoria explains what companies results are telling us about the state of the economy right now. And the The New Zealand Shareholders' Association has panned Synlait Milk's recapitalisition plan, saying it represents a 'dead rat' for minority shareholders.

BusinessDesk editor, Victoria Young

11:30 Consumer news: Localised grocery pricing, costly domestic flights

Consumer NZ's head of research and advocacy Gemma Rasmussen joins Kathryn to look at the issue of localised pricing in the supermarket sector. A joint analysis with Newsroom found that South Islanders were paying about $5 more for the same basket of items than North Islanders. Why is it so expensive to fly domestic in New Zealand? Consumer wants the government to do a market study of the domestic air industry. And Gemma will talk about a new event they're launching called the 'Yeah, Nah Awards'...which will "celebrate" the dodgiest, difficult or disappointing businesses.  Gemma Rasmussen is Head of Research and Advocacy at Consumer NZ

11:45 Sports-chat Sam Ackerman

The Olympics may be over, but some of our top Olympians are still showering themselves in glory. Sam looks at Lydias Ko’s remarkable month and casts his eye ahead to the Paralympics.