Today in Business: September 30, 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 Tuesday, September 30, 2025, and here are five stories you should know about.
Andrew Barclay, retiring Goldman Sachs New Zealand managing director and chief executive, has been appointed chairman of TVNZ effective November 3. He replaces Alastair Carruthers, who is leaving the role eight months early. Media and Communications Minister Paul Goldsmith confirmed the appointment today, saying Barclay's background equips him with skills for financial oversight and strategic decision-making. Barclay spent 26 years at Goldman Sachs, the last 19 as chief executive. TVNZ, funded by advertising revenue, recently announced its first dividend in three years. The board also includes broadcaster Paul Henry and former Sky chief executive John Fellet, both recent appointees.
In other news, Mexican company Finaccess risto-russ-eon has announced a full takeover offer for Restaurant Brands New Zealand, operator of KFC, Taco Bell, Carl's Junior and Pizza Hut. Finaccess currently owns 75% of the NZX-listed business and offered $5.05 per share for the remaining 25%, worth about $157.5 million. The offer represents a 70.6% premium on Monday's closing price of $2.96. Following the announcement, shares rose 65.54% to $4.90. Finaccess chief executive hozay pa-ress gootearess is also chairman of Restaurant Brands. The company's latest financial results showed sales of $703.2 million and net profit of $11.9 million.
SkyCity Entertainment's annual report reveals chief executive Jason Walbridge received total remuneration of $2.6 million in the year ending June 30th. Chairman Julian Cook says only $1.6 million was cash, with the remainder in incentive grants and restricted share rights. The package included $1.44 million in salary and benefits, $177,900 in relocation costs, and $582,500 in long-term incentives. Walbridge, who joined from Las Vegas last year, received no short-term incentive after focusing on financial improvements. The report highlights progress on SkyCity's strategic refresh and says the $1 billion New Zealand International Convention Centre remains on track for February 2026.
Meanwhile, Scales Corporation will spend $103 million to gain full ownership of Meateor Australia and Fayman International, and increase its stake in ANZ Exports to 85%. Completion of the acquisitions is scheduled today, with more than half paid in cash immediately, some settled in shares, and the rest paid in instalments over five years. Managing director Andy Borland says the businesses have shown strong performance and strategic alignment. The acquisitions are expected to lift earnings in the current year, with Scales now forecasting net profit between $51 million and $56 million, compared with earlier guidance of $45 to $50 million.
And finally, in banking, BNZ has cut its one-year fixed home loan rate to 4.49%, the lowest advertised rate among major banks. The 26-basis-point reduction, effective today, compares with 4.75% at ASB, ANZ, Westpac and Kiwibank. BNZ executive Karna Luke says the cut provides meaningful savings, noting a household with a 500,000 dollar mortgage could save more than $2,400 in 12 months compared with the previous average one-year rate of 5.19%. Luke says BNZ is seeing strong demand for the one-year term. The rate is down sharply from its February 2024 peak of 7.35%, offering relief to mortgage customers nationwide.
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