Today in Business: September 24, 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 Wednesday, September 24, 2025, and here are five stories you should know about.
Swedish economist Dr Anna Bremman has officially been appointed as Reserve Bank Governor, beginning her term on December 1. She replaces acting Governor Christian Hawkesby, who steps down after Adrian Orr's abrupt resignation in March. Reserve Bank chair Neil Quigley also resigned earlier this year, with a replacement yet to be named. Speaking in Wellington today, Bremman says the Bank will focus on "price stability, prudential supervision and payment systems oversight." She also promises "transparency, accountability and clear communication." Breman is the first woman to hold the Governor role in New Zealand and previously served as deputy governor of Sweden's central bank.
In other news, the 2025 Mood of the Boardroom survey shows Education Minister Erica Stanford topping Cabinet performance rankings. Fifty-five percent of respondents rated her work as "very impressive," up from thirty-seven percent last year. Winston Peters ranked second, with 23 percent rating his performance highly as Foreign Affairs Minister. Ministers Chris Bishop, Todd McClay, Simeon Brown, Mark Mitchell, Judith Collins, Shane Jones and Chris Penk also featured strongly. However, Prime Minister Christopher Luxon and Finance Minister Nicola Willis did not make the top 10.
Meanwhile, Auckland Airport has opened its largest-ever airfield expansion project, costing $465 million. The development adds 250,000 square metres of space, equivalent to 23 rugby fields, and provides parking for up to 11 jets. Six new remote stands with fuel and electricity connections are now available, accommodating both widebody and narrowbody aircraft. Christopher Luxon attended the opening ceremony. Chief executive Carrie Hurihanganui says the project will provide overnight parking and additional flexibility. Construction began in 2019, paused during the pandemic, and resumed in 2022. More than a million cubic metres of soil were moved and 108,000 tonnes of concrete reused.
Auckland households and businesses will soon receive the annual Entrust dividend of $364, up from 350 dollars last year. More than 368,000 eligible power account holders will receive payments by bank transfer or as credits on their power bills. Entrust chairwoman Denise Lee says the dividend is "a highlight for many Aucklanders" and provides real relief to families and businesses. Since 1994, more than 2.5 billion dollars has been paid out. To qualify, recipients must be named account holders in the Entrust district as of August 13. Entrust owns 75.1 percent of Vector shares on behalf of local energy consumers.
And in retail, Kathmandu owner KMD Brands has reported a statutory net loss of $93.4 million for the 2025 financial year, compared with a $48.3 million loss in 2024. Group sales rose slightly by 1% to $989 million, but gross profit fell 2.1% and operating expenses climbed 3.9%. Underlying earnings before interest, tax and depreciation dropped 64.7% . Kathmandu sales grew marginally to $361.9 million, Rip Curl sales rose 2.1%, while Oboz sales fell to $76.6 million. The company will close 14 stores during 2026 but open six new outlets.
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