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Today in Business: August 8, 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 Friday, August 8, 2025, and here are five stories you should know about.
Airports and airlines are at odds over regulation. The Ministry of Business, Innovation and Employment in April asked for feedback on whether existing regulations were adequate, but Wellington Airport chief executive Matt Clarke says repeated reviews over 15 years undermine investor confidence. Clarke cites the Ministry's 2018 review, the Civil Aviation Act 2023, and intensive Commerce Commission oversight. Umbrella group NZ Airports says the current system is working well, with no additional rules needed, but one airline group says airports would exploit a system soft on regulation. Board of Airlines of New Zealand's Cath O'Brien says rules are essential to prevent "monopoly" airports from overcharging. MBIE has advised Minister Scott Simpson, with no law changes planned, though the Commerce Commission may review disclosure rules.
In other news, Rocket Lab posted record quarterly revenue of US$144.5 million for the three months to June 30, up 36% year-on-year. Its net loss widened to US$66.4 million, with cash reserves at US$564 million. The firm completed its US$275 million acquisition of US defence contractor Geost, increasing headcount to over 2,600. Rocket Lab also tested its new Archimedes engine for the upcoming Neutron rocket. Shares closed at US$44.21, valuing the company at more than US$21 billion. Around 32,000 New Zealanders now hold shares, with an average purchase price of US$12.76.
Meanwhile, fresh produce exporter T&G Global has returned to profit. For the six months to June, net profit was $1.7 million, reversing an $18.6 million loss the previous year. Revenue rose to $920 million from $820 million, with operating earnings of $18.1 million. Strong demand for premium apples and efficiency gains boosted results. Apples accounted for nearly three-quarters of revenue, with the Envy variety performing well. The T&G Fresh division also returned to profit after expanding into stone fruit and berries. Majority shareholder BayWa is exploring the sale of its 74% stake, with Craigs Investment Partners advising on potential buyers.
Elsewhere, Intrepid Travel has fully acquired New Zealand tour operators Haka Tours and ANZ Nature Tours, completing the purchase from founder Ryan Sanders. Intrepid first acquired 60% in 2021. Haka Tours focuses on small-group Māori cultural experiences, while ANZ Nature Tours offers inbound travel packages across New Zealand, Australia, and the Pacific Islands. All operations will rebrand to Intrepid by year-end, with Simon Mckearney becoming Intrepid's first country manager for New Zealand. Intrepid's Brett Mitchell says the acquisition strengthens its operational presence in one of its highest-performing markets per capita.
Finally, turning to consumer safety, Netsafe has reported a 25% rise in consumer products and service fraud scams in July, increasing from 136 cases in June to one hundred and seventy one. The scams involve fake listings for products or services on trusted platforms, including social media marketplaces, and bogus gambling services. Netsafe says recent growth came from sellers offering non-existent goods on social media. The National Cyber Security Centre reported $7.8 million in cyber losses in the first quarter, with ten individuals losing over $100,000 each. Netsafe urges victims to document evidence, notify platforms, banks, and police.
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.
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 Friday, August 8, 2025, and here are five stories you should know about.
Airports and airlines are at odds over regulation. The Ministry of Business, Innovation and Employment in April asked for feedback on whether existing regulations were adequate, but Wellington Airport chief executive Matt Clarke says repeated reviews over 15 years undermine investor confidence. Clarke cites the Ministry's 2018 review, the Civil Aviation Act 2023, and intensive Commerce Commission oversight. Umbrella group NZ Airports says the current system is working well, with no additional rules needed, but one airline group says airports would exploit a system soft on regulation. Board of Airlines of New Zealand's Cath O'Brien says rules are essential to prevent "monopoly" airports from overcharging. MBIE has advised Minister Scott Simpson, with no law changes planned, though the Commerce Commission may review disclosure rules.
In other news, Rocket Lab posted record quarterly revenue of US$144.5 million for the three months to June 30, up 36% year-on-year. Its net loss widened to US$66.4 million, with cash reserves at US$564 million. The firm completed its US$275 million acquisition of US defence contractor Geost, increasing headcount to over 2,600. Rocket Lab also tested its new Archimedes engine for the upcoming Neutron rocket. Shares closed at US$44.21, valuing the company at more than US$21 billion. Around 32,000 New Zealanders now hold shares, with an average purchase price of US$12.76.
Meanwhile, fresh produce exporter T&G Global has returned to profit. For the six months to June, net profit was $1.7 million, reversing an $18.6 million loss the previous year. Revenue rose to $920 million from $820 million, with operating earnings of $18.1 million. Strong demand for premium apples and efficiency gains boosted results. Apples accounted for nearly three-quarters of revenue, with the Envy variety performing well. The T&G Fresh division also returned to profit after expanding into stone fruit and berries. Majority shareholder BayWa is exploring the sale of its 74% stake, with Craigs Investment Partners advising on potential buyers.
Elsewhere, Intrepid Travel has fully acquired New Zealand tour operators Haka Tours and ANZ Nature Tours, completing the purchase from founder Ryan Sanders. Intrepid first acquired 60% in 2021. Haka Tours focuses on small-group Māori cultural experiences, while ANZ Nature Tours offers inbound travel packages across New Zealand, Australia, and the Pacific Islands. All operations will rebrand to Intrepid by year-end, with Simon Mckearney becoming Intrepid's first country manager for New Zealand. Intrepid's Brett Mitchell says the acquisition strengthens its operational presence in one of its highest-performing markets per capita.
Finally, turning to consumer safety, Netsafe has reported a 25% rise in consumer products and service fraud scams in July, increasing from 136 cases in June to one hundred and seventy one. The scams involve fake listings for products or services on trusted platforms, including social media marketplaces, and bogus gambling services. Netsafe says recent growth came from sellers offering non-existent goods on social media. The National Cyber Security Centre reported $7.8 million in cyber losses in the first quarter, with ten individuals losing over $100,000 each. Netsafe urges victims to document evidence, notify platforms, banks, and police.
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.
See omnystudio.com/listener for privacy information.
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By NZ HeraldWelcome 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 Friday, August 8, 2025, and here are five stories you should know about.
Airports and airlines are at odds over regulation. The Ministry of Business, Innovation and Employment in April asked for feedback on whether existing regulations were adequate, but Wellington Airport chief executive Matt Clarke says repeated reviews over 15 years undermine investor confidence. Clarke cites the Ministry's 2018 review, the Civil Aviation Act 2023, and intensive Commerce Commission oversight. Umbrella group NZ Airports says the current system is working well, with no additional rules needed, but one airline group says airports would exploit a system soft on regulation. Board of Airlines of New Zealand's Cath O'Brien says rules are essential to prevent "monopoly" airports from overcharging. MBIE has advised Minister Scott Simpson, with no law changes planned, though the Commerce Commission may review disclosure rules.
In other news, Rocket Lab posted record quarterly revenue of US$144.5 million for the three months to June 30, up 36% year-on-year. Its net loss widened to US$66.4 million, with cash reserves at US$564 million. The firm completed its US$275 million acquisition of US defence contractor Geost, increasing headcount to over 2,600. Rocket Lab also tested its new Archimedes engine for the upcoming Neutron rocket. Shares closed at US$44.21, valuing the company at more than US$21 billion. Around 32,000 New Zealanders now hold shares, with an average purchase price of US$12.76.
Meanwhile, fresh produce exporter T&G Global has returned to profit. For the six months to June, net profit was $1.7 million, reversing an $18.6 million loss the previous year. Revenue rose to $920 million from $820 million, with operating earnings of $18.1 million. Strong demand for premium apples and efficiency gains boosted results. Apples accounted for nearly three-quarters of revenue, with the Envy variety performing well. The T&G Fresh division also returned to profit after expanding into stone fruit and berries. Majority shareholder BayWa is exploring the sale of its 74% stake, with Craigs Investment Partners advising on potential buyers.
Elsewhere, Intrepid Travel has fully acquired New Zealand tour operators Haka Tours and ANZ Nature Tours, completing the purchase from founder Ryan Sanders. Intrepid first acquired 60% in 2021. Haka Tours focuses on small-group Māori cultural experiences, while ANZ Nature Tours offers inbound travel packages across New Zealand, Australia, and the Pacific Islands. All operations will rebrand to Intrepid by year-end, with Simon Mckearney becoming Intrepid's first country manager for New Zealand. Intrepid's Brett Mitchell says the acquisition strengthens its operational presence in one of its highest-performing markets per capita.
Finally, turning to consumer safety, Netsafe has reported a 25% rise in consumer products and service fraud scams in July, increasing from 136 cases in June to one hundred and seventy one. The scams involve fake listings for products or services on trusted platforms, including social media marketplaces, and bogus gambling services. Netsafe says recent growth came from sellers offering non-existent goods on social media. The National Cyber Security Centre reported $7.8 million in cyber losses in the first quarter, with ten individuals losing over $100,000 each. Netsafe urges victims to document evidence, notify platforms, banks, and police.
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.
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 Friday, August 8, 2025, and here are five stories you should know about.
Airports and airlines are at odds over regulation. The Ministry of Business, Innovation and Employment in April asked for feedback on whether existing regulations were adequate, but Wellington Airport chief executive Matt Clarke says repeated reviews over 15 years undermine investor confidence. Clarke cites the Ministry's 2018 review, the Civil Aviation Act 2023, and intensive Commerce Commission oversight. Umbrella group NZ Airports says the current system is working well, with no additional rules needed, but one airline group says airports would exploit a system soft on regulation. Board of Airlines of New Zealand's Cath O'Brien says rules are essential to prevent "monopoly" airports from overcharging. MBIE has advised Minister Scott Simpson, with no law changes planned, though the Commerce Commission may review disclosure rules.
In other news, Rocket Lab posted record quarterly revenue of US$144.5 million for the three months to June 30, up 36% year-on-year. Its net loss widened to US$66.4 million, with cash reserves at US$564 million. The firm completed its US$275 million acquisition of US defence contractor Geost, increasing headcount to over 2,600. Rocket Lab also tested its new Archimedes engine for the upcoming Neutron rocket. Shares closed at US$44.21, valuing the company at more than US$21 billion. Around 32,000 New Zealanders now hold shares, with an average purchase price of US$12.76.
Meanwhile, fresh produce exporter T&G Global has returned to profit. For the six months to June, net profit was $1.7 million, reversing an $18.6 million loss the previous year. Revenue rose to $920 million from $820 million, with operating earnings of $18.1 million. Strong demand for premium apples and efficiency gains boosted results. Apples accounted for nearly three-quarters of revenue, with the Envy variety performing well. The T&G Fresh division also returned to profit after expanding into stone fruit and berries. Majority shareholder BayWa is exploring the sale of its 74% stake, with Craigs Investment Partners advising on potential buyers.
Elsewhere, Intrepid Travel has fully acquired New Zealand tour operators Haka Tours and ANZ Nature Tours, completing the purchase from founder Ryan Sanders. Intrepid first acquired 60% in 2021. Haka Tours focuses on small-group Māori cultural experiences, while ANZ Nature Tours offers inbound travel packages across New Zealand, Australia, and the Pacific Islands. All operations will rebrand to Intrepid by year-end, with Simon Mckearney becoming Intrepid's first country manager for New Zealand. Intrepid's Brett Mitchell says the acquisition strengthens its operational presence in one of its highest-performing markets per capita.
Finally, turning to consumer safety, Netsafe has reported a 25% rise in consumer products and service fraud scams in July, increasing from 136 cases in June to one hundred and seventy one. The scams involve fake listings for products or services on trusted platforms, including social media marketplaces, and bogus gambling services. Netsafe says recent growth came from sellers offering non-existent goods on social media. The National Cyber Security Centre reported $7.8 million in cyber losses in the first quarter, with ten individuals losing over $100,000 each. Netsafe urges victims to document evidence, notify platforms, banks, and police.
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.
See omnystudio.com/listener for privacy information.