Show notes
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, September 5, 2025, and here are five stories you should know about. Fletcher Building has cut the maximum pay package for its new managing director and group chief executive by two million dollars. The company says the board reset the pay structure to link it more closely with long-term performance and share price results. Andrew Reeding became managing director and group chief executive on September 30, 2024, replacing interim leader Nick Traber and outgoing chief Ross Taylor. Before officially starting, Reeding announced plans for a comprehensive review of the company. The reset includes plans to cut operating costs by 180 million dollars as part of the strategic overhaul. In other news, Auckland Airport is redirecting confiscated batteries to community groups instead of landfill. Aviation Security removes about 470 batteries a day from checked luggage, equivalent to about 171,000 annually. Batteries are generally permitted only in carry-on bags due to fire risks. Since August last year, around 95,000 unopened batteries have been donated to charities. Auckland Airport says most are double A and triple A batteries, commonly used for toys, smoke alarms, and school equipment. The Civil Aviation Authority says power banks, vapes, and wireless earbuds must be carried on board. Meanwhile, Sean Plunket has become full owner of online radio station The Platform after buying out Wayne Wright junior's 75 percent shareholding. The confidential transaction leaves Plunket as sole director and 100 percent shareholder. Wright says it was a "great ride" but describes media as a "high-risk, low-yield space." He says the Wright family's investment had helped the station move from start-up to self-sustaining operations, but further growth would require new investment. Wright has also stepped down as company director following the ownership change. Across the Tasman, Qantas is cutting executive pay following a major data breach that exposed details of 5.7 million customers. The airline's annual report says incentives for chief executive Vanessa Hudson were reduced by 15 percent, cutting her pay by 250,000 Australian dollars. Other executives had pay docked from an incentive scheme too. In the data breach, compromised information included 1.3 million addresses, four million names and email records, and 10,000 meal preferences. Qantas says it obtained a New South Wales court injunction preventing use of the stolen data. The airline recently reported a 1.78 billion dollar annual profit, up 28 percent on last year. Back home, Radio New Zealand is proposing to close its youth brand "Tahi" and restructure arts and culture coverage, citing reduced Government funding. An RNZ manager says the changes are a necessary response to a nearly five-million-dollar or seven percent annual budget cut. Proposed changes include replacing two staff on the Culture one-oh-one programme with a single role and merging the dedicated movie reviewer into a broader entertainment position. Meanwhile, the National Business Review confirms journalist Mike McRoberts' email was hacked in a phishing attack. The scam originated offshore. 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.