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 Wednesday, October 15, 2025, and here are five stories you should know about. Investment firm HP Capital, trading as Finbase, has been formally warned by the Financial Markets Authority for serious disclosure and fair dealing breaches. The regulator says Finbase made regulated offers of its Single Investment financial products without meeting disclosure and notice obligations under the Financial Markets Conduct Act. Finbase says the breaches resulted from incorrect legal advice but did not cause investor losses. The company says it has reviewed its legal advisers and worked closely with the FMA to resolve the matter. FMA executive director Louise Unger says fair dealing in wholesale offers is a key regulatory focus this year. In other news, Finaccess Capital chief executive Jose Pares Gutierrez, also chairman of Restaurant Brands New Zealand, says limited liquidity and small free float have constrained shareholder value. Finaccess has launched an offer to take the fast-food group private, open until November 12. The company's independent directors plan to release a Target Company Statement by October 29, including an independent valuation from Calibre Partners. Finaccess highlights that Restaurant Brands' trading volume is significantly below peers. ACC, holding 4.73%, has agreed to accept the offer in relation to its shareholding. Meanwhile, transport technology firm, E Road, is warning small business customers that some truck-tracking devices still depend on One New Zealand's 3G network, which begins shutting down on December 31. 2degrees will close its 3G service at the end of this year, with Spark following in March. E Road co-chief executive Mark Heine says operators should upgrade early to avoid installation delays during the busy holiday period. The company says any systems using 3G Sim cards, including medical devices, security alarms and older e-readers, will stop working once the 3G networks are fully decommissioned. Elsewhere, SkyCity Entertainment Group says Auckland's new $1 billion New Zealand International Convention Centre will host 95 events in its first year. The company released a confirmed schedule extending through 2028, including 28 future international conferences. Fifteen of next year's events will attract about 15,000 attendees. Upcoming gatherings include heart rhythm specialists, ecologists, and dairy experts. The convention centre was built by Fletcher Construction, a subsidiary of Fletcher Building. SkyCity says the International Coral Reef Symposium, scheduled for July, is the convention centre's largest event of 2026, bringing around 2000 delegates and generating an estimated $5.1 million in economic benefit. Finally, in agribusiness, Scales Corporation has upgraded its 2025 earnings guidance. The company now expects underlying net profit after tax of between $54 million and $59 million, up from a previous range of 51 to 56 million. Managing director Andy Borland says performance across the group remains strong this year, ending December 31. Last month, Scales agreed to take full control of Meateor Australia and Fayman International, and lift its stake in ANZ Exports to 85 percent. 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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