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, August 19, 2025, and here are five stories you should know about. Former economist and investment manager Gareth Morgan has warned the public about a deepfake of him circulating on Facebook and Instagram, offering misleading financial advice. Morgan says the AI-generated video copies his voice and appearance but uses a fake background. He first learned of the scam from his daughter, who saw an ad featuring him. Morgan says he's received many calls from people nearly tricked into handing over money. Despite complaints, Facebook has not removed the video. Last year, pop star Taylor Swift was also targeted by harmful deepfake content. In other news, a report shows New Zealand's construction sector's at its weakest in six years, losing 16,000 jobs since 2022. As of June, employment stood at 294,000, down from 310,000. Economists Shamubeel Eaqub and Rosie Collins say activity per capita is now at its lowest since twentynineteen. The report highlights rising defaults and liquidations, with credit defaults up 14 percent and company closures up 48 percent. The sector generates $94 billion annually, with 65 billion going to suppliers. Work-related injuries cost $2.2 billion annually in lost wages and profits, with fatalities averaging 10 per year. Meanwhile, Synlait Milk shares rose nearly nine percent to 62 cents after media reports suggested the company could sell its Porkie-naw processing facility. In a statement, the company confirms discussions with a party regarding its North Island assets but says no binding terms have been agreed. The Porkie-naw plant, opened in twentynineteen, has consistently run at a loss. Media reports name Abbott Laboratories as a prospective buyer. Synlait continues to operate its main facility in Canterbury, producing infant formula for shareholder a2 Milk, which is pursuing its own major changes in infant formula manufacturing. Elsewhere, Foodstuffs North Island has officially opened its new $73 million New World supermarket in Pt Chevalier, Auckland. Nearly 100 shoppers lined up in the rain for the launch, which was brought forward after a fire destroyed New World Victoria Park in June. The 2,752 square metre store features 105 car parks, six staffed checkouts and eight self-scan counters. Owner-operators Matt and Nicole Mullins will employ around 120 staff, many from the closed Victoria Park site. The store also launched with a Smeg cookware promotion. Foodstuffs says teams across property, retail and supply chain worked to accelerate the opening. And the Electricity Authority has announced three interventions to address competition concerns in the power market. The changes target the four major generator retailers - Genesis, Mercury, Meridian and Contact - which produce and sell electricity. Chair Anna Kominik says the measures aim to boost confidence and competition. The first requires gentailers to trade minimum volumes of new hedge products. The second introduces mandatory non-discrimination rules. The third reviews market-making in electricity futures. Energy Minister Simon Watts says the changes will help smaller companies compete. Stats NZ reports retail electricity prices rose 11 percent and gas prices rose 14 percent year-on-year. 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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