One transport planner is looking into the feasibility of a fixed link between New Zealand's two islands.

KiwiRail are officially cancelling an overseas contract for building more mega-ferries, after the Government declined to foot the bill.

Nicolas Reid, the Principal Public Transport Planner for MRCagney, says there are other options available to cross the Cook Strait.

"There's options around the existing ferries and expanding those ferries, and also moving to a fixed link such as a bridge or a tunnel."

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Over in the US, share prices have slumped after the US Federal Reserve hinted at a slower than expected pace for rate cuts in the new year.

The Federal Reserve set its key lending rate in a target range of 4.25 percent to 4.5 percent - down a full percentage point since September.

Fisher Funds expert Sam Dickie explains further.

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The Country's Jamie Mackay has been catching up with politicians and farming experts to discuss their picks for Ag Person of the Year.

There's been a diverse range of favourites - but who is Jamie's?

He revealed his favourites for 2024, ahead of his final show for the year.

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This was a dire week for the economy - but experts say things can only go up from here.

Stats NZ revealed that GDP was down 1 percent in the September quarter, and had been down 1.1 percent the previous quarter.

This is the biggest drop since 1991, excluding the Covid-19 lockdowns.

Despite the gloomy outlook, NZ Herald business editor at large Liam Dann says this will likely be as bad as things get before things pick up.

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Mastercard is pushing back against the Commerce Commission's plan to put a cap on credit card fees.

The Commission says regulation for credit and contactless payments could deliver $280 million in savings a year for merchants and consumers.

But Mastercard New Zealand says the draft decision is disappointing, will undermine competition, and set back the local economy.

Mastercard NZ Country Manager Ruth Riviere says these suggestions by the Commerce Commission will bring down interest in investing in New Zealand.

"We're really clear that there's these unintended consequences of what's being proposed."

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People will have questions, after one of the country's worst quarterly GDP dips in decades.

Stats NZ figures show New Zealand's gross domestic product crashed down one percent in the September quarter.

It's put the country in the deepest recession since the Covid-driven slump in 2020.

Former Finance Minister Steven Joyce says the Reserve Bank Governor, Adrian Orr, needs to speak up and explain.

"I think there is some legitimate questions to be asked - I can remember, quite recently, him saying he's got it all under control and that this is going to be a soft landing. Well, quite clearly, it wasn't."

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We're less than a week out from Christmas - and some key stocks could be well-placed for a Christmas charge-up.

The 'Santa Rally' phenomenon refers to a strong share market over the last 5 trading sessions in December, and the first 2 trading sessions in the new year.

Milford Asset Management's Stephanie Batchelor unpacks the phenomenon.

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The surprisingly large uptick in the amount of debt the Treasury is expected to issue in coming years will come at a cost, S&P Global Ratings warns.

On Tuesday, Treasury increased its forecast bond issuance programme by a whopping 16 percent.

It now believes it’ll have to issue $146 billion of New Zealand Government Bonds (debt) in the four years to 2027/28 - $20b more than forecast at the Budget in May.

NZ Herald Wellington business editor Jenee Tibshraeny explains further.

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