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, November 4, 2025, and here are five stories you should know about.

IAG has confirmed its New Zealand chief executive Amanda Whiting will return to Australia after Australian media revealed the insurer was seeking her replacement. Whiting told staff she was relocating to Sydney for family reasons but would continue leading IAG New Zealand until a successor is appointed. She says it remains "business as usual for now." Group chief executive Nick Hawkins says Whiting's decision was carefully thought out and she will support a transition while staying engaged with the New Zealand business.

In other news, online job ads rose 3.5 percent in the year to September, the first annual increase since 2022, according to the Ministry of Business, Innovation and Employment. IT and construction led growth, rising 10 percent, while education postings dropped 13 percent. Infometrics chief executive Brad Olsen says the lift is "minimal" but encouraging, with gains strongest in healthcare and primary industries. Simplicity economist Shamubeel Eaqub says it feels like the bottom of the cycle, though regional trends remain uneven. Job ads continued to fall in Auckland, Northland and Gisborne/Hawke's Bay.

Meanwhile, Syos Aerospace is expanding to Australia, establishing production for its uncrewed aerial and surface vehicle technology developed in New Zealand and the United Kingdom. Founder and chief executive Sam Vye says the move supports Australian demand for locally produced systems. The firm has partnered with Starboard Maritime Intelligence to integrate satellite surveillance data and has acquired Bay Dynamics, a maker of remotely operated underwater vehicles. The company previously drew attention for securing a £30 million drone contract with the UK Ministry of Defence supporting Ukraine.

Elsewhere, Downer New Zealand has reported a 247 percent profit increase to $66 million for the latest year. Subcontractor costs fell from $900 million to $794 million, while wages dropped, cutting total expenses to $2.4 billion. Downer owns leading builder Hawkins, which was ranked the country's busiest construction firm in May. Hawkins managed $1.2 billion in projects last year, according to data specialist BCI Central's national ranking of 50 builders.

And falling rents are not forecast to reverse any time soon due to subdued migration, with Auckland rents down 0.5% annually. "It's difficult to see a strong return to growth in the near term," according to the October update from insights business CoreLogic NZ, trading as Cotality. Auckland rents have been falling for the last 12 months and are now sitting at a median of $650/week, according to Cotality's table. Hamilton rents fell 0.6% to a median $557/week. Dunedin was the only place where rents rose: up 3.4% to a median $505/week.

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 Tuesday, November 4, 2025, and here are five stories you should know about. 
IAG has confirmed its New Zealand chief executive Amanda Whiting will return to Australia after Australian media revealed the insurer was seeking her replacement. Whiting told staff she was relocating to Sydney for family reasons but would continue leading IAG New Zealand until a successor is appointed. She says it remains "business as usual for now." Group chief executive Nick Hawkins says Whiting's decision was carefully thought out and she will support a transition while staying engaged with the New Zealand business. 
In other news, online job ads rose 3.5 percent in the year to September, the first annual increase since 2022, according to the Ministry of Business, Innovation and Employment. IT and construction led growth, rising 10 percent, while education postings dropped 13 percent. Infometrics chief executive Brad Olsen says the lift is "minimal" but encouraging, with gains strongest in healthcare and primary industries. Simplicity economist Shamubeel Eaqub says it feels like the bottom of the cycle, though regional trends remain uneven. Job ads continued to fall in Auckland, Northland and Gisborne/Hawke's Bay. 
Meanwhile, Syos Aerospace is expanding to Australia, establishing production for its uncrewed aerial and surface vehicle technology developed in New Zealand and the United Kingdom. Founder and chief executive Sam Vye says the move supports Australian demand for locally produced systems. The firm has partnered with Starboard Maritime Intelligence to integrate satellite surveillance data and has acquired Bay Dynamics, a maker of remotely operated underwater vehicles. The company previously drew attention for securing a £30 million drone contract with the UK Ministry of Defence supporting Ukraine. 
Elsewhere, Downer New Zealand has reported a 247 percent profit increase to $66 million for the latest year. Subcontractor costs fell from $900 million to $794 million, while wages dropped, cutting total expenses to $2.4 billion. Downer owns leading builder Hawkins, which was ranked the country's busiest construction firm in May. Hawkins managed $1.2 billion in projects last year, according to data specialist BCI Central's national ranking of 50 builders. 
And falling rents are not forecast to reverse any time soon due to subdued migration, with Auckland rents down 0.5% annually. "It's difficult to see a strong return to growth in the near term," according to the October update from insights business CoreLogic NZ, trading as Cotality. Auckland rents have been falling for the last 12 months and are now sitting at a median of $650/week, according to Cotality's table. Hamilton rents fell 0.6% to a median $557/week. Dunedin was the only place where rents rose: up 3.4% to a median $505/week. 
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...

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