Today in Business: September 16, 2025

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, September 16, 2025, and here are five stories you should know about.
PwC has trimmed debts of the failed Auckland-based Du Val property group from $306 million to 267 million through asset sales. In its latest six-monthly report, PwC says secured creditor debt fell from $224 million to 185 million, aided by sales in Māngere Bridge and Māngere East, totalling $23.2 million. China Construction Bank was fully repaid on an $18.1 million loan. Investors in the Build to Rent Fund, may receive between 40 and 44 cents per dollar. The Financial Markets Authority investigation continues, with court orders freezing assets and restricting overseas travel for the founders.
In other news, the Government confirmed plans to modernise competition law with amendments to the Commerce Act, the first major update in nearly 20 years. Commerce Minister Scott Simpson says the reforms target anti-competitive practices, including serial small acquisitions, predatory pricing, and "killer acquisitions" of start-ups. The Commerce Commission would gain powers to restore competition through court orders and apply prohibitions to AI-driven conduct. Confidentiality protections would be strengthened, while collaboration rules for businesses would be simplified. Simpson also announced a new governance board for the Commerce Commission following an independent review led by Dame Paula Rebstock.
Meanwhile, Local Government New Zealand's request for KiwiSaver contributions for councillors and mayors was rejected by the Government. In March, LGNZ urged Minister Simon Watts to extend employer contributions to local representatives, who are currently treated as contractors. Watts says no changes will be made. An Inland Revenue briefing also opposed the proposal, citing scheme consistency. The request followed Budget 2025 changes that raised employer contributions to 4 percent by 2027, but halved Government contributions to $260.72 annually, saving $2.5 billion over four years. LGNZ argues councillors' roles resemble MPs, who receive generous employer-funded superannuation.
Elsewhere, Auckland Airport has completed a major stormwater upgrade, installing a 4.4 kilometre network and New Zealand's first coupled wetland biofilter. The system treats runoff from over 100 hectares, using a forebay as well as a wetland with 20,000 plants, and biofilter cells to remove contaminants before water enters the Manukau Harbour. The biofilter, covered by bird netting, can process three times the volume of a traditional pond. Chief planning officer Mary-Liz Tuck says the upgrade improves resilience and sustainability while freeing land for aviation use. The works follow severe flooding in 2023 that exposed vulnerabilities in Auckland's stormwater infrastructure.
And finally, food prices rose 5 percent in the year to August 2025, with grocery items the main contributor, Stats NZ reports. Dairy led increases, with milk up 16.3 percent to $4.72 for two litres, cheese up 26.2 percent to $12.89 per kilo, and butter up 31.8 percent to $8.58 for 500 grams. Meat, poultry and fish prices rose 8.1 percent, fruit and vegetables 8.9 percent, and restaurant meals 2.4 percent. Rent rose 2.1 percent, while petrol fell 2.4 percent. Electricity was up 11.4 percent, and gas 14.5 percent. ANZ's Sharon Zollner says inflation pressures are broadly tracking expectations.
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