Today in Business: September 23, 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 23, 2025, and here are five stories you should know about.
The new Reserve Bank Governor will be announced tomorow at 1pm in the Beehive theatrette. Adrian Orr resigned abruptly in March after a dispute with the Minister and board over funding, followed by chairman Neil Quigley stepping down last month. Acting Governor Christian Hawkesby has provided stability since March, and confirmed he applied for the role. Bloomberg has reported the next Governor could be a woman, possibly with overseas ties, though no name has been confirmed. Local and international economists, including Bank of England deputy governor Sarah Breeden, have been tipped as potential contenders.
Airways New Zealand has admitted incorrect information was provided about the cause of an August air traffic control outage. Chief executive James Young previously told media a "vendor" was involved, but the company now confirms the faulty software was developed internally. Five flights were held in the air during the disruption, while others were grounded. Airways says the issue stemmed from a sectorisation process in its oceanic system, triggering a one hour outage. Meanwhile, the state-owned enterprise today reported a net profit after tax of $11.9 million and will pay a $10 million dividend.
In other news, the Commerce Commission's launched civil proceedings alleging cartel conduct in the Christchurch real estate market, involving four Harcourts franchisees. Chairman Dr John Small says the firms competed for customers, but made agreements affecting commission rates, which constitutes alleged cartel conduct under the Commerce Act. He says the franchisees together held a significant market share. Harcourts confirmed receiving proceedings and pledged cooperation, but offered no further comment. Small stresses the case targets conduct, not the franchise model itself, and warns cartel breaches carry criminal sanctions and potential penalties under the law.
Meanwhile, New Zealand's top executives are increasingly focused on geopolitical risks, according to the Herald's 2025 Mood of the Boardroom survey released tomorow. Seventy-eight percent of chief executives say their boards now assess geopolitical vulnerabilities. Institute of Directors CEO Kirsten Patterson says small nations feel global instability strongly. Morrison CEO Paul Newfield says geopolitics is on every board agenda, while Mainfreight's Don Braid says it's essential for global operators. Executives cite concerns over China, trade barriers, and conflicts impacting costs. Even domestically focused firms say they monitor geopolitical events closely for potential impacts on customers and business operations.
And as mentioned in the prior story, business leaders will deliver their verdict on New Zealand's political and economic direction in tomorrow's Mood of the Boardroom survey. The 23rd edition attracted 150 responses from leaders across key industries. Results will be presented online and in print, with a live streamed briefing from 7.30am. Editor Fran O'Sullivan will present the findings, followed by a debate between Finance Minister Nicola Willis and Labour finance spokesperson Barbara Edmonds. The survey, conducted between August 15 and September 12, assesses leadership performance, policy concerns, and top national issues as viewed by CEOs and senior directors across major sectors.
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