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 Thursday, August 28, 2025, and here are five stories you should know about.

Air New Zealand has reported a pre-tax profit of 189 million dollars, with net profit after tax at 126 million, down from 146 million last year. Chief executive Greg Foran, who will depart in two months, says the airline faces pressure from rising airport and aviation costs, with airport charges up 57 percent since 2019. He declined a 900-thousand-dollar retention bonus earlier this year and confirmed Nikhil Ravishankar will succeed him. Passenger demand remains weak, with government and corporate travel both down. The company says it's managing costs while dealing with challenges such as engine maintenance delays.

In other news, New Zealand Post has resumed limited parcel deliveries to the United States after suspending service last week due to tariffs. The new option is available only for businesses with a postal account, while personal parcel sending remains suspended. General manager Jared Handcock says the service helps companies stay connected with U.S. customers. Personal letters and documents were not affected, and gifts under 170 dollars may still enter the U.S. duty-free. NZ Post says it's working on a retail solution to allow individuals to send gifts and parcels again soon.

Meanwhile, more than 140 Stuff journalists have gone on strike over pay disputes. The E tū union accuses the company of offering low wage increases while benefiting from a share sale to Trade Me. Journalists walked off the job between 3 and 5 p.m., with pickets outside newsrooms in Auckland, Hamilton, Wellington, and Christchurch. Union delegate David Long says staff deserve fair pay. Stuff denies claims of a "secret payday" and says wages have risen annually since Covid. The company says plans are in place to maintain news output.

Elsewhere, the Ombudsman has forced the Reserve Bank to release details about Adrian Orr's resignation as Governor. Documents show Orr temporarily stepped down on February 27 after tensions with the board, Treasury, and Finance Minister Nicola Willis over government funding. Acting Governor Christian Hawkesby took over, while board chair Neil Quigley raised trust concerns in a letter. Orr rejected the allegations but admitted a lack of trust, resigning on March 5. The bank later confirmed funding disagreements were central. The Ombudsman says publishing a timeline balanced public interest and Orr's privacy. Orr has declined comment.

And the Port of Auckland has lifted underlying net profit by 55 percent to 85.4 million dollars for the year to June. Statutory profit reached 90.8 million, while revenue rose to 393 million from 339 million. The port will pay Auckland Council 97 million in dividends, including proceeds from the sale of its Marsden Maritime Holdings stake. Container volumes rose five percent to the highest level since 2020. The port reduced debt by 44 million and improved operational performance, with on-time vessel departures up to 72 percent. Vehicle trade fell 17 percent to the lowest since 2013.

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.

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 Thursday, August 28, 2025, and here are five stories you should know about. 
Air New Zealand has reported a pre-tax profit of 189 million dollars, with net profit after tax at 126 million, down from 146 million last year. Chief executive Greg Foran, who will depart in two months, says the airline faces pressure from rising airport and aviation costs, with airport charges up 57 percent since 2019. He declined a 900-thousand-dollar retention bonus earlier this year and confirmed Nikhil Ravishankar will succeed him. Passenger demand remains weak, with government and corporate travel both down. The company says it's managing costs while dealing with challenges such as engine maintenance delays. 
In other news, New Zealand Post has resumed limited parcel deliveries to the United States after suspending service last week due to tariffs. The new option is available only for businesses with a postal account, while personal parcel sending remains suspended. General manager Jared Handcock says the service helps companies stay connected with U.S. customers. Personal letters and documents were not affected, and gifts under 170 dollars may still enter the U.S. duty-free. NZ Post says it's working on a retail solution to allow individuals to send gifts and parcels again soon. 
Meanwhile, more than 140 Stuff journalists have gone on strike over pay disputes. The E tū union accuses the company of offering low wage increases while benefiting from a share sale to Trade Me. Journalists walked off the job between 3 and 5 p.m., with pickets outside newsrooms in Auckland, Hamilton, Wellington, and Christchurch. Union delegate David Long says staff deserve fair pay. Stuff denies claims of a "secret payday" and says wages have risen annually since Covid. The company says plans are in place to maintain news output. 
Elsewhere, the Ombudsman has forced the Reserve Bank to release details about Adrian Orr's resignation as Governor. Documents show Orr temporarily stepped down on February 27 after tensions with the board, Treasury, and Finance Minister Nicola Willis over government funding. Acting Governor Christian Hawkesby took over, while board chair Neil Quigley raised trust concerns in a letter. Orr rejected the allegations but admitted a lack of trust, resigning on March 5. The bank later confirmed funding disagreements were central. The Ombudsman says publishing a timeline balanced public interest and Orr's privacy. Orr has declined comment. 
And the Port of Auckland has lifted underlying net profit by 55 percent to 85.4 million dollars for the year to June. Statutory profit reached 90.8 million, while revenue rose to 393 million from 339 million. The port will pay Auckland Council 97 million in dividends, including proceeds from the sale of its Marsden Maritime Holdings stake. Container volumes rose five percent to the highest level since 2020. The port reduced debt by 44 million and improved operational performance, with on-time vessel departures up to 72 percent. Vehicle trade fell 17 percent to the lowest since 2013. 
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.

Today in Business is an experimental AI podcast by the New Zealand Herald. Listen every day at 5pm for the top headlines from the NZ Herald business team. 

Powered by Spark for Business.

Today in Business is an experimental AI podcast by the New Zealand Herald.&nbsp;Listen every day at 5pm for the top headlines from the NZ Herald business team.&nbsp;
Powered by Spark for Business.

Today in Business

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...