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 5, 2025, and here are five stories you should know about. Revitalisation of Auckland's central business district is still in question as several high-profile development sites sit vacant, some for decades. Despite major projects like the $5.5 billion City Rail Link and the $1 billion-plus New Zealand International Convention Centre nearing completion, many sites remain undeveloped, delayed, or abandoned. Plans for residential and office towers - including Saint James Suites, Elliott Tower, and Federal Apartments - have stalled or been dropped. Notable sites, such as the ex-Auckland Star and Royal International Hotel, are empty. Key properties, including Smith & Caugheys and the former police station, are now for sale. Developers cite funding difficulties and challenging market conditions. See more from Anne Gibson in today's Property Insider. In other news, the Shotover Jet tourist attraction in Queenstown marks sixty years of operation, having carried more than 4.6 million passengers since 1965. Owned by Ngāi Tahu since 2004, Shotover Jet operates seven jetboats and recently tested a prototype electric jetboat. Business manager Donald Boyer highlights ongoing electrification research and technical challenges, especially around weight limits. Ngāi Tahu's tourism division, employing 261 people, reported an operating surplus of $4.8 million last year. The wider Ngāi Tahu group posted $347.3 million in total revenue for 2023-24, down from the previous year. Meanwhile, a cybersecurity start-up, in-Webbed, reports finding more than 198,000 compromised credentials for Kiwi organisations for sale on the dark web. This includes more than 18,000 Government worker logins, 3,200 banking staff accounts, and 2,000 healthcare workers' credentials. Some healthcare and banking logins had recent activity, according to founder Julian Wendt. He says his findings have been shared with affected organisations and the Office of the Privacy Commissioner. Wendt's analysis shows compromised credentials are sometimes available for free as samples, while bulk lists are sold for low prices. He advises using long pass phrases to improve security. In a separate development, Treasury documents reveal broadcaster Paul Henry sought approval from Minister Paul Goldsmith to host the New Zealand version of The Chase while discussing his TVNZ board appointment. Henry asked Goldsmith if his hosting role would pose a problem, and Goldsmith replied, "Should be fine." TVNZ later announced Henry as host and board member. Officials' recommendations to reappoint at least two existing TVNZ directors were overruled, with only John Quirk reappointed out of three considered. Treasury highlighted the need for expertise in digital technology, media, and financial management on the TVNZ board, which currently has one vacancy remaining. And the New Zealand wine industry faces more than a hundred million dollars in extra tariffs after the United States increased tariffs on New Zealand wine exports from 10% to 15%. The US is New Zealand's largest wine export market, worth about $750 million annually. NZ Winegrowers' Sarah Wilson says the higher tariff now adds about $1.10 per bottle, compared to 10 cents previously. The change could add $112 million in extra tariff costs. Trade experts say New Zealand faces a disadvantage compared to competitors, with some countries subject to lower tariffs on wine exports to the US. 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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