Today in Business: September 25, 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 Thursday, September 25, 2025, and here are five stories you should know about.
Fonterra has posted a net profit of $1.079 billion for the July 2025 year, down 4.3 percent due mainly to higher tax expenses. Revenue rose 15 percent to $26 billion, with Ingredients the standout business. Earnings per share held steady at 71 cents. The farm gate milk price was confirmed at $10.16 per kilogram of milk solids. A 57 cent fully imputed dividend was declared. CEO Miles Hurrell says demand for high-quality dairy products continues to drive returns. Hurrell's total pay reached $6.11 million, up from 5.92 million previously.
In other news, Auckland Airport says Sichuan Airlines will begin direct flights between Auckland and Cheng Doo from December 7. The airline will operate two flights weekly using Airbus eh three fifty aircraft, doubling its seasonal schedule from last summer. Airport officials estimate the service will bring around 22,000 new visitors each year, worth about $130 million in spending, alongside 150 million in potential annual cargo capacity. Cheng Doou becomes Auckland's eighth mainland Chinese destination. The city, home to pandas and Setch-One cuisine, has a population of about 21 million and is 2000 kilometres west of Shanghai.
Meanwhile, business leaders have rated the shared Deputy Prime Ministership arrangement at barely 3 out of 5 in the Mood of the Boardroom survey. Winston Peters served first before passing the role to David Seymour on May 31. CEOs describe the arrangement as surprisingly cohesive, though some say it weakens the Prime Minister's position. Peters remains the highest-rated minor party leader, scoring 3.7. Seymour rated 3.13, while Green and Te Pāti Māori co leaders saw sharp declines. The Greens' ratings fell after a series of scandals, while Te Pāti Māori leaders faced record suspensions during the Treaty Principles Bill debate.
Elsewhere, actor Cliff Curtis is leading a consortium to buy Auckland Film Studios in Henderson from Auckland Council. The facility, valued at $34 million in 2021, has hosted nearly 50 international and local productions including Avatar: The Way of Water. Sources say Taika Waititi and Jason Mow-mower are also involved, though their roles are unconfirmed. Mayor Wayne Brown says the deal is close and he is supportive. The studios were established in 1992 and expanded in 2022 with a $37.5 million investment. Auckland Council says the sale process is ongoing, but commercially sensitive. Curtis has incorporated two new companies.
And three wealthy New Zealand families alongside Jubilee Investments have acquired electric motorcycle maker, Ubco, for $5 million. Receivers Stephen Keen and Ian Ruscoe confirm the transaction included intellectual property, subsidiaries, goodwill, plant, stock, and lease surrenders. Ubco, based in Mount Maunganui, collapsed in January owing $35.7 million. At its peak in 2021, the company had raised capital at a $50 million valuation. Receivers say the $5 million proceeds will go toward $7.1 million owed under a general security agreement. The receivers' report was released by Grant Thornton.
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