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, November 11, 2025, and here are five stories you should know about.
Global dairy prices are under pressure as milk production continues to rise worldwide. The Global Dairy Trade index fell 2.4% at its November 5 auction, with whole milk powder down 2.7%. NZX data show New Zealand's September milk output up 2.5% year-on-year. HighGround Dairy's Stu Davison says global supply is now outstripping demand. Rabobank reports milk production rising across key export regions, with US output up 3.4% in July. Fonterra's forecast milk price range stands at $9 to $11 per kilogram of milksolids, while futures point to $9.77, reflecting softening market conditions and increased supply.
In other news, Inland Revenue's applied to liquidate 44 companies linked to Auckland businessman James Hwang, who supplies sushi products to Foodstuffs supermarkets. The case is set for hearing in the High Court at Auckland on November 27. The companies are owned by YB Sushi Holdings and YB Sushi Catering Holdings, both directed by Hwang. According to its website, YB Sushi makes sushi in-store for 51 North Island New World and Pak'nSave stores. Companies Office notices show some entities overdue on tax filings.
Meanwhile, the US aviation sector's straining under a prolonged government shutdown, now in its forty-first day. More than 2000 flights were cancelled and 7100 delayed as air traffic controllers worked without pay. President Donald Trump threatened to dock wages for controllers calling in sick, while offering $10,000 bonuses to those working. The National Air Traffic Controllers Association calls members "unsung heroes" and urges Congress to end the shutdown. Democratic Congressman Rick Larsen criticized Trump's comments, calling them attacks on workers keeping air travel safe.
Back home, start-up fund Hiraya Ventures has made its first investment, backing student wellness platform Komodo. Founders Hengjie Wang and Alliv Samson, who created education tech firm Kami, invested $10 million into their new fund. They led Komodo's $1.2 million pre-Series A round, joined by New Zealand Growth Capital Partners and former Reddit CEO Ellen Pao. Wang joins Komodo's board under the deal. Hiraya Ventures plans investments between $300,000 and $1 million across technology, fashion, film, and software. The couple previously invested in Icehouse Ventures, Tracksuit, and Halter.
Finally, the long-delayed 85 million dollar Beachcroft Residences apartment project in Auckland's Onehunga has a new builder. Receiver Andrew Grenfell of McGrathNicol confirms Method Construction Group is now managing and completing remaining work. The project, started in 2018 under Erson Developments, stalled after its previous builder departed. Grenfell says Method has reviewed construction progress and delivered a revised completion program. Work restarted last week, with practical completion targeted for mid-March.
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.
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