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 Tuesday, October 22, 2025, and here are five stories you should know about.

Fletcher Building says it has settled all outstanding claims on the Puhoi to Warkworth motorway with the Transport Agency and insurers, closing a long-running dispute. CEO Andrew Reding and Chairman Peter Crowley told shareholders the company's reorganisation from six divisions to five cost $120 million due to IT changes. Nearly 1000 ceiling pipes were replaced in Perth's Iplex remediation, with costs consistent with estimates. Crowley says Fletcher remains focused on quality assurance after the leaky pipes issue. He also confirms the New Zealand International Convention Centre is effectively completed, with testing and compliance processes under way before handover.

In other news, Labour proposes increasing the video game rebate from 20% to 25%, lifting the per-company cap from $3 million to $4.5 million, and lowering the eligibility threshold to $200,000 in annual revenue. Leader Chris Hipkins announced the policy at gaming studio PikPok, saying it could be achieved within the current $40 million annual budget. The NZ Game Developers Association previously suggested similar adjustments. Science Minister Shane Reti earlier made the rebate permanent while boosting the Code grants scheme to $5 million. Reti criticises Labour's plan, arguing it favours large studios and could exhaust funding faster.

Meanwhile, Airways New Zealand names Darin Cusack as its new chair following Denise Church's retirement, with Danny Tuato'o appointed deputy chair. Minister Simeon Brown confirms Cusack's three-year term begins October thirty-first and Tuato'o's runs to mid-2027. General manager Kim Nichols has also resigned after 16-and-a-half years. Cusack, a board member since 2018, says he will focus on safe and efficient services across 30 million square kilometres of controlled airspace. The Aviation Industry Association says Airways lacks transparency after a Nelson Airport control-tower absence caused delays, urging clearer communication about operational incidents.

In Media news, lifestyle and fashion site Ensemble is closing after five years. Founders Rebecca Wadey and Zoe Walker Ahwa told readers the project had reached a natural end, saying maintaining its standards was no longer sustainable financially or creatively. Ensemble was launched in 2020, sold to Stuff in 2021, and repurchased by its founders last year. The closure follows financial struggles at Metro and North & South magazines. Wadey and Walker Ahwa thanked readers, advertisers, and contributors, noting every subscription dollar went to paying writers. Paid subscriptions were paused recently, and farewell stories will be published next week.

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 Tuesday, October 22, 2025, and here are five stories you should know about. 
Fletcher Building says it has settled all outstanding claims on the Puhoi to Warkworth motorway with the Transport Agency and insurers, closing a long-running dispute. CEO Andrew Reding and Chairman Peter Crowley told shareholders the company's reorganisation from six divisions to five cost $120 million due to IT changes. Nearly 1000 ceiling pipes were replaced in Perth's Iplex remediation, with costs consistent with estimates. Crowley says Fletcher remains focused on quality assurance after the leaky pipes issue. He also confirms the New Zealand International Convention Centre is effectively completed, with testing and compliance processes under way before handover. 
In other news, Labour proposes increasing the video game rebate from 20% to 25%, lifting the per-company cap from $3 million to $4.5 million, and lowering the eligibility threshold to $200,000 in annual revenue. Leader Chris Hipkins announced the policy at gaming studio PikPok, saying it could be achieved within the current $40 million annual budget. The NZ Game Developers Association previously suggested similar adjustments. Science Minister Shane Reti earlier made the rebate permanent while boosting the Code grants scheme to $5 million. Reti criticises Labour's plan, arguing it favours large studios and could exhaust funding faster. 
Meanwhile, Airways New Zealand names Darin Cusack as its new chair following Denise Church's retirement, with Danny Tuato'o appointed deputy chair. Minister Simeon Brown confirms Cusack's three-year term begins October thirty-first and Tuato'o's runs to mid-2027. General manager Kim Nichols has also resigned after 16-and-a-half years. Cusack, a board member since 2018, says he will focus on safe and efficient services across 30 million square kilometres of controlled airspace. The Aviation Industry Association says Airways lacks transparency after a Nelson Airport control-tower absence caused delays, urging clearer communication about operational incidents. 
In Media news, lifestyle and fashion site Ensemble is closing after five years. Founders Rebecca Wadey and Zoe Walker Ahwa told readers the project had reached a natural end, saying maintaining its standards was no longer sustainable financially or creatively. Ensemble was launched in 2020, sold to Stuff in 2021, and repurchased by its founders last year. The closure follows financial struggles at Metro and North & South magazines. Wadey and Walker Ahwa thanked readers, advertisers, and contributors, noting every subscription dollar went to paying writers. Paid subscriptions were paused recently, and farewell stories will be published next week. 
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...

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