PM Edition: Top 10 Business Articles on LiveNews.co.nz for July 6, 2026 – Full Text

•             Easing oil prices have strengthened New Zealand’s outlook and reduced the risk of a prolonged inflation shock
•             Lower fuel costs and stronger than expected economic momentum have put New Zealand’s recovery back on firmer footing
•             Geopolitical risks remain a key watchpoint, but the immediate threat to household spending and business costs has eased.

New Zealand’s economic outlook has markedly improved in recent months, with falling oil prices easing pressure on inflation, household budgets and business costs, according to ASB’s latest Economic Forecast Update.

ASB Chief Economist Nick Tuffley says the sharp decline in global oil prices has materially changed the outlook since ASB’s March forecast: https://www.asb.co.nz/content/dam/asb/documents/reports/quarterly-economic-forecasts/asb-forecast-update_mar26a.pdf

“The New Zealand economy has shown greater resilience than many expected in the face of global uncertainty and higher fuel prices,” says Nick.

“While geopolitical risks remain elevated, falling oil prices have significantly reduced one of the biggest risks to growth and inflation this year.”

Global oil prices have dropped sharply from their March peaks amid hopes that negotiations between Iran and the United States will ease disruptions linked to the Strait of Hormuz. While shipping through the Strait remains disrupted and energy infrastructure has been damaged, fuel prices have declined substantially in recent months, reducing pressure on inflation and easing the squeeze on household spending.

“Higher fuel prices were starting to crowd out household spending and lift business costs across the economy,” says Nick.

“Those pressures are now easing substantially. Consumers are likely to feel more confident than they did earlier in the year, and businesses have greater certainty about their cost environment.”

The New Zealand economy entered 2026 with stronger momentum than previously estimated. GDP rose 0.8% in the March quarter, while revised 2025 data showed growth was stronger than previously thought and becoming more broad-based across the economy.

However, Nick says elevated fuel prices and heightened uncertainty are still expected to weigh on activity through the middle of 2026.

“The recovery has not been derailed, but it has been delayed. Household spending, business investment and some export sectors are still feeling the effects of the oil shock, and the labour market remains soft.”

Inflation remains a key focus. ASB forecasts annual CPI inflation will rise to around 4.1% in the June 2026 year, driven largely by earlier fuel price increases. However, falling oil prices are expected to ease inflation pressure through the second half of the year and into 2027.

“The inflation outlook remains highly uncertain and depends heavily on developments in the Middle East,” says Nick. “But the recent fall in oil prices means inflation now looks considerably less challenging than it did a few months ago.”

The changing inflation outlook is expected to give the Reserve Bank more time to assess economic conditions before raising interest rates. ASB Economists now expect the Official Cash Rate to remain on hold until September before gradually increasing through late 2026 and early 2027.

Looking ahead, ASB expects the recovery to continue gradually, supported by resilient commodity prices, recovering tourism and lower fuel costs, although geopolitical risks remain elevated. Dairy and meat export sectors continue to benefit from strong global demand, while tourism has recovered to 93% of pre-COVID visitor levels.

“The outlook has improved, but uncertainty remains high,” says Nick.

“It would only take one significant geopolitical shock to reverse recent gains, so businesses and households still need to prepare for a range of possible outcomes. For now, though, the recovery appears to be back on track.”

Date: 02 Jul 2026

Canterbury leaders have come together to explore how local government reform could shape the region’s future.

More than 100 elected members, chief executives and mana whenua representatives came together for the Canterbury Local Government Summit on Simplifying Local Government, hosted by Environment Canterbury and the Canterbury Mayoral Forum and held at Lincoln University.

What the summit explored

The summit focused on helping Canterbury leaders build a shared understanding of opportunities arising from the Government’s proposed local government reforms, and the implications for regional service delivery, planning and environmental management.

Throughout the day, participants explored the regional services, environmental challenges, partnerships, and future choices that will shape Waitaha Canterbury over the coming decades. Mana whenua encouraged attendees to think intergenerationally and at a Ngāi Tahu takiwā or South Island scale.

Canterbury’s shared approach

Canterbury Mayoral Forum Chair Nigel Bowen said there was agreement in principle among Canterbury councils to continue developing a proposal for the region, with further work taking place in the leadup to the 9 August due date for proposals.

“Ultimately, the decisions belong to elected members and the communities they represent. We’re making sure no district is left out of the conversation and that any proposal Canterbury submits to Government reflects the realities of both our urban and rural communities,” Mayor Bowen said.

A strong theme throughout the discussions was ensuring all parts of Canterbury are included in future conversations and that local communities continue to have a strong voice in decision-making for local and regional services. Participants also reflected that the timeframes provided by Government are creating significant challenges.

Understanding Environment Canterbury’s functions

Environment Canterbury councillors led discussions on the wide range of services currently delivered at a regional level, including freshwater management, biodiversity, biosecurity, science and environmental monitoring, public transport and catchment management.

These sessions highlighted the interconnected nature of many regional functions and the importance of understanding how they would continue to be delivered effectively under any future governance model.

Environment Canterbury Chair Dr Deon Swiggs said the day was focused on building knowledge and supporting informed decision-making.

“The key message from the day has been that while the shape of future local government remains uncertain, we have an opportunity to shape it. There is a clear desire from Canterbury leaders for us all to work together, build a common understanding of the issues, and ensure communities continue to receive the services they rely on throughout any transition or change.

“Justin Tipa, Kaiwhakahaere of Te Rūnanga o Ngāi Tahu, and Papatipu Rūnanga representatives in the room challenged elected members to think about the visionary opportunities for future generations and to consider what we can do at a takiwā scale,” Chair Swiggs said.

Next steps

The Canterbury Mayoral Forum will meet again on 6 July to continue discussions and further develop a proposal for Canterbury’s future local government arrangements. Councils across Canterbury are also continuing processes within their own districts.

Related information

The Civil Aviation Authority’s (CAA) Statement of Intent (SOI) and Statement of Performance Expectations (SPE), published on 1 July, set out what the organisation will deliver and how it will measure progress.

Both documents can be downloaded from our corporate publications page.

For the first time the SPE highlights CAA’s new safety and security focus areas for the 2026-2027 year. See table below.

“These will drive where we direct our regulatory effort across the aviation system, so we can have the greatest impact,” CAA Director Kane Patena says. “We’ll work closely with the sector through targeted engagement and education, helping participants and organisations meet their safety and security responsibilities and manage their own risks effectively.”

“A recent example of this approach is our work on dangerous goods and lithium battery safety through airport security. By identifying this as a key risk area, we focused efforts on targeted education and awareness activities, helping industry participants and passengers better understand and manage the risks traveling with these items brings.” Patena says.

These focus areas have been informed by ICAO’s global and regional priorities, alongside an understanding of New Zealand’s unique aviation environment and domestic context. The CAA intends to review these periodically to ensure they remain fit for purpose and to ensure our regulatory efforts continue to be directed towards the areas where they can have the greatest impact on aviation safety and security outcomes.

Patena says the documents provide a clear line of sight between the organisation’s strategy, delivery and Government expectations.

“The SOI and SPE outline what matters most for aviation safety and security right now, and how we will demonstrate progress against our deliverables with practical actions and measurable results.”

“Our intent is on being a safety-focused, efficient, and responsive regulator to support the aviation sector, align with Government expectations and facilitate a safe and secure aviation system for New Zealand.”

The SOI outlines the CAA’s medium-term direction for the next four financial years from 2026 to 2030, including how it will track progress against its vision and purpose.

The SPE is published annually and focuses on delivery in 2026-27. It sets out the five activities the CAA is funded to deliver, the results it is aiming to achieve, and how performance will be measured. These activities are:

• Policy and rule settings
• Education and engagement
• Certification and licensing
• Monitoring and investigation
• Security delivery.

Together, the SOI and SPE meet the CAA’s statutory reporting requirements under the Crown Entities Act 2004 and provide transparency about its priorities, performance, and use of public resources.

The performance measures in these documents also support quarterly and annual reporting, providing a clearer picture of progress and impact. The SPE includes financial statements and estimated costs for 2026-27, outlining the resources required to deliver work programmes.

Performance measures for 2026-27 have been refreshed to ensure they remain relevant, clear, and useful for tracking performance over time.

Overall, the SOI and SPE link the CAA’s strategic direction with its day-to-day activities, showing how priorities translate into measurable results and public value.

CAA’s focus over the next 18-24 months also includes work to modernise CAA’s regulatory certification and decision-making processes, continue its progress with the Rules Update Programme, and deliver a new Business Transformation Programme which will make targeted investments across technology, capability and systems to drive CAA’s performance.

As New Zealand’s aviation regulator, the CAA’s primary focus is maintaining aviation safety and security. This focus underpins all decisions and actions, helping ensure the aviation system remains safe and secure for those who work in, and rely on it. Over time, this has contributed to a sustained reduction in aviation accidents and fatalities.

As part of the launch, customers can look forward to more than 10,000 ready-to-eat meal giveaways, exclusive yuu promotions and the debut of limited-edition Build-Your-Own 7-Eleven store blind box collectibles inspired by some of Singapore’s favourite 7-Eleven moments.

“Find The Good Stuff is a campaign that reflects how we are evolving the 7‑Eleven experience for today’s consumers,” said Anushree Khosla, Managing Director, 7‑Eleven Singapore. “We want every visit to be more than just a last-mile pit stop. By curating discovery through strong supplier partnerships and strategic sourcing, we bring together delicious food, unexpected finds, and little moments of happiness that brighten the day. With Find The Good Stuff, we’re inviting customers to rediscover what 7‑Eleven has to offer in fresh and exciting ways.”

Discover The Good Stuff in Every Bite

At the heart of this campaign is a simple challenge to all: Don’t Judge Till You Try. Designed to change perceptions of convenience store food, this challenge encourages customers to experience 7-Eleven’s growing range of ready-to-eat offerings with an open mind. From sandwiches and wraps to onigiri and packed meals, customers may discover that the food they’ve been walking past could become their next favourite meal.

To bring the challenge to life, 7-Eleven will give away 10,000 ready-to-eat items across selected stores islandwide throughout July. Each week spotlights a different ready-to-eat bestseller from 7-Eleven, inviting customers to experience the quality, taste and convenience that have made these favourites increasingly popular among Singaporeans.

Giveaway Schedule

*selected SKUs only

Customers can also keep the joy going with $2 off all ready-to-eat items,available exclusively via the yuu app (for both existing and new users), while stocks last.

The full list of participating 7-Eleven stores is provided in the Appendix below. Customers can also view the store list on 7-Eleven Singapore’s Facebook and Instagram pages.

Turning 7-Eleven Into a Place of Discovery with Every Visit

Beyond good food, ‘Find the Good Stuff’ is about the thrill of unexpected discovery. Bringing this experience to life, 7-Eleven Singapore is launching its first-ever Build-Your-Own 7-Eleven store blind box^[1] collection. Score a surprise by redeeming^[2] one blind box with a minimum spend of $28, or purchasing it at $7.90 each – this limited-edition series allows fans to assemble their own miniature 7-Eleven store at home.

Build-Your-Own 7-Eleven Store Blind Box Designs

For more promotions and updates, stay tuned to 7-Eleven Singapore Facebook, 7-Eleven Singapore Instagram, 7-Eleven TikTok pages and 7-Eleven Singapore Telegram channel.

Campaign images are available for download here. [Photo Credits: 7-Eleven Singapore]

Appendix – List of participating 7-Eleven stores for ready-to-eat meal giveaway

Central

East

North/North-East

West

Hashtag: #7-Eleven

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