Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.

Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.

It's Wednesday, August 27, 2025, and here are five stories you should know about.

The Government says it's moving to speed up supermarket development in New Zealand. Economic Growth Minister Nicola Willis says the new rules will cut the consenting process from 18 months to one year. Changes include a single building consent system and streamlined eligibility for fast-track processes. A request for information found five prospective competitors and confirmed Costco's interest in expansion. Willis says the West Auckland Costco store has already altered local competition. She also says restructuring Foodstuffs and Woolworths is still under review, with a cost-benefit analysis to advise Cabinet on possible reforms.

Meridian Energy has reported a $452 million net loss, impacted by drought conditions and declining energy margins. The result compared with a $429 million profit the previous year. Cashflow fell to $318 million from $667 million. Chief executive Mike Roan says droughts, low wind and gas shortages combined to create a difficult year. Despite the loss, Meridian declared a final dividend of 14.85 cents per share, bringing the annual total to 21 cents per share.

Meanwhile, customers are counting their losses after Kitchen Things entered receivership, leaving many without prepaid appliances. Wellington customer Damion says he lost $16,000 after paying for goods that never arrived. Another couple told the Herald they paid more than $14,000 for appliances needed for their daughter's medical care, but deliveries stopped. Ian Burkett and his wife, both in their seventies, say they lost nearly $7,000 on two Bosch appliances. Receivers Grant Thornton have contacted customers for proof of purchase, but some say follow-up communication has not come. Consumer New Zealand advises those who paid by card to seek chargebacks through their banks.

Elsewhere, Auckland Airport is investing in new self-service technology to reduce queues. About 60 traditional check-in desks will be replaced with kiosks and automated bag drops, allowing shared use across airlines. The airport says the new system will support more competition and expand check-in space to 13,000 square metres. The airport says the upgrade will "future-proof" it, and improve efficiency. Biometric technology will also be introduced. The airport last week reported a net profit after tax of $310.4 million, up 12 percent. Temporary check-in facilities will operate during construction, set to begin in early 2026.

And an Auckland financial adviser called Le Joe, also known as Eric, faces forgery charges after allegedly filing 15 false health and life insurance applications. Authorities say the applications involved 27 non-existent people, generating more than $260,000 in commission. Le Joe was sole director and shareholder of Les Vela Limited, trading as Wise Insurance. The Financial Markets Authority has cancelled the company's licence, citing non-compliance with the Financial Markets Conduct Act. FMA executive Louise Unger says the practice, known as "tombstoning," undermines industry trust. Joe has been charged with three counts of forgery and will reappear in North Shore District Court.

That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald. 
Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap. 
It's Wednesday, August 27, 2025, and here are five stories you should know about. 
The Government says it's moving to speed up supermarket development in New Zealand. Economic Growth Minister Nicola Willis says the new rules will cut the consenting process from 18 months to one year. Changes include a single building consent system and streamlined eligibility for fast-track processes. A request for information found five prospective competitors and confirmed Costco's interest in expansion. Willis says the West Auckland Costco store has already altered local competition. She also says restructuring Foodstuffs and Woolworths is still under review, with a cost-benefit analysis to advise Cabinet on possible reforms. 
Meridian Energy has reported a $452 million net loss, impacted by drought conditions and declining energy margins. The result compared with a $429 million profit the previous year. Cashflow fell to $318 million from $667 million. Chief executive Mike Roan says droughts, low wind and gas shortages combined to create a difficult year. Despite the loss, Meridian declared a final dividend of 14.85 cents per share, bringing the annual total to 21 cents per share. 
Meanwhile, customers are counting their losses after Kitchen Things entered receivership, leaving many without prepaid appliances. Wellington customer Damion says he lost $16,000 after paying for goods that never arrived. Another couple told the Herald they paid more than $14,000 for appliances needed for their daughter's medical care, but deliveries stopped. Ian Burkett and his wife, both in their seventies, say they lost nearly $7,000 on two Bosch appliances. Receivers Grant Thornton have contacted customers for proof of purchase, but some say follow-up communication has not come. Consumer New Zealand advises those who paid by card to seek chargebacks through their banks. 
Elsewhere, Auckland Airport is investing in new self-service technology to reduce queues. About 60 traditional check-in desks will be replaced with kiosks and automated bag drops, allowing shared use across airlines. The airport says the new system will support more competition and expand check-in space to 13,000 square metres. The airport says the upgrade will "future-proof" it, and improve efficiency. Biometric technology will also be introduced. The airport last week reported a net profit after tax of $310.4 million, up 12 percent. Temporary check-in facilities will operate during construction, set to begin in early 2026. 
And an Auckland financial adviser called Le Joe, also known as Eric, faces forgery charges after allegedly filing 15 false health and life insurance applications. Authorities say the applications involved 27 non-existent people, generating more than $260,000 in commission. Le Joe was sole director and shareholder of Les Vela Limited, trading as Wise Insurance. The Financial Markets Authority has cancelled the company's licence, citing non-compliance with the Financial Markets Conduct Act. FMA executive Louise Unger says the practice, known as "tombstoning," undermines industry trust. Joe has been charged with three counts of forgery and will reappear in North Shore District Court. 
That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

Today in Business is an experimental AI podcast by the New Zealand Herald. Listen every day at 5pm for the top headlines from the NZ Herald business team. 

Powered by Spark for Business.

Today in Business is an experimental AI podcast by the New Zealand Herald.&nbsp;Listen every day at 5pm for the top headlines from the NZ Herald business team.&nbsp;
Powered by Spark for Business.

Today in Business

Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald. 
Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice...