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, November 6, 2025, and here are five stories you should know about.

BNZ reports an annual net profit after tax of $1.5 billion for the year to September, a 0.5% drop from the prior period. Mortgage lending rose 6.4%, business lending 2.2%, and deposits 5.8%. Chief executive Dan Huggins says the margin between lending and deposits fell by 9 basis points due to strong rate competition. The overall net interest margin increased 6 basis points to 2.43%, partly from financial risk management. Revenue fell 3.7%, following the 2024 sale of its wealth arm to Harbour Asset Management. Operating expenses were steady, credit impairments declined, and Huggins' remuneration rose to $1.82 million.

In other news, New Zealand's technology sector recorded strong growth in the 2025 financial year. The latest Technology Investment Network report shows the country's 200 largest tech firms lifted total revenue 9.9% to $20 billion and exports 12.4% to 15.3 billion. Employment rose slightly to 61,369, but New Zealand-based roles fell 12.4% to 28,750 as offshore hiring grew faster. Xero led the ranking for the first time, with Rocket Lab entering the top ten. Fisher and Paykel Healthcare reported 16% revenue growth to $2.02 billion. High-tech manufacturing achieved the fastest export growth, up 11% year-on-year.

Meanwhile, the Commerce Commission has granted final approval for a 10-year agreement giving Contact, Meridian, and Mercury access to Genesis Energy's Huntly Power Station capacity under the Strategic Energy Reserve Huntly Firming Option. The arrangement ensures continued availability of Genesis' Rankine Unit 2 for dry-year electricity supply. The companies will pay annual premiums and operating costs. Commission chair John Small says the benefits, including security of supply and lower wholesale prices, outweigh any competition concerns. The authorisation follows last winter's price spikes caused by dry conditions and limited gas supply across New Zealand's electricity system.

Elsewhere, construction crane numbers are rising again, signalling tentative sector recovery. The latest Rider Levett Bucknall Crane Index shows 116 long-term cranes in operation across New Zealand's seven main centres, up from 105 in the first quarter. Auckland leads with 59, while Christchurch increased to 23 and Tauranga to 14. Wellington fell to five, and Dunedin recorded none. The national index climbed 10.5% to 147 points. Ray White's Vanessa Rader says the increase reflects activity in data centres, industrial projects, aged care, and hotels. The residential index stabilised after last year's low, with 29 cranes now operating nationwide.

On the aviation front, Air New Zealand has launched its electric aircraft demonstration project in Hamilton with United States-based Beta Technologies. The battery-powered Alia CX300 completed earlier tests in Tauranga and now enters proving trials. Pilots Andrew Mercer and James Owen will conduct varied flight operations with Beta's team. Air New Zealand says the project supports the airline's innovation strategy. The aircraft carries two crew and 5.6 cubic metres of cargo on flights up to 398 kilometres. Mobile chargers at key airports allow 90-minute recharging. The four-month programme includes flights from Hamilton to Wellington and Blenheim.

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, November 6, 2025, and here are five stories you should know about. 
BNZ reports an annual net profit after tax of $1.5 billion for the year to September, a 0.5% drop from the prior period. Mortgage lending rose 6.4%, business lending 2.2%, and deposits 5.8%. Chief executive Dan Huggins says the margin between lending and deposits fell by 9 basis points due to strong rate competition. The overall net interest margin increased 6 basis points to 2.43%, partly from financial risk management. Revenue fell 3.7%, following the 2024 sale of its wealth arm to Harbour Asset Management. Operating expenses were steady, credit impairments declined, and Huggins' remuneration rose to $1.82 million. 
In other news, New Zealand's technology sector recorded strong growth in the 2025 financial year. The latest Technology Investment Network report shows the country's 200 largest tech firms lifted total revenue 9.9% to $20 billion and exports 12.4% to 15.3 billion. Employment rose slightly to 61,369, but New Zealand-based roles fell 12.4% to 28,750 as offshore hiring grew faster. Xero led the ranking for the first time, with Rocket Lab entering the top ten. Fisher and Paykel Healthcare reported 16% revenue growth to $2.02 billion. High-tech manufacturing achieved the fastest export growth, up 11% year-on-year. 
Meanwhile, the Commerce Commission has granted final approval for a 10-year agreement giving Contact, Meridian, and Mercury access to Genesis Energy's Huntly Power Station capacity under the Strategic Energy Reserve Huntly Firming Option. The arrangement ensures continued availability of Genesis' Rankine Unit 2 for dry-year electricity supply. The companies will pay annual premiums and operating costs. Commission chair John Small says the benefits, including security of supply and lower wholesale prices, outweigh any competition concerns. The authorisation follows last winter's price spikes caused by dry conditions and limited gas supply across New Zealand's electricity system. 
Elsewhere, construction crane numbers are rising again, signalling tentative sector recovery. The latest Rider Levett Bucknall Crane Index shows 116 long-term cranes in operation across New Zealand's seven main centres, up from 105 in the first quarter. Auckland leads with 59, while Christchurch increased to 23 and Tauranga to 14. Wellington fell to five, and Dunedin recorded none. The national index climbed 10.5% to 147 points. Ray White's Vanessa Rader says the increase reflects activity in data centres, industrial projects, aged care, and hotels. The residential index stabilised after last year's low, with 29 cranes now operating nationwide. 
On the aviation front, Air New Zealand has launched its electric aircraft demonstration project in Hamilton with United States-based Beta Technologies. The battery-powered Alia CX300 completed earlier tests in Tauranga and now enters proving trials. Pilots Andrew Mercer and James Owen will conduct varied flight operations with Beta's team. Air New Zealand says the project supports the airline's innovation strategy. The aircraft carries two crew and 5.6 cubic metres of cargo on flights up to 398 kilometres. Mobile chargers at key airports allow 90-minute recharging. The four-month programme includes flights from Hamilton to Wellington and Blenheim. 
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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