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 29, 2025, and here are five stories you should know about. Carnival Cruise Line will homeport its Carnival Adventure ship in Auckland for the 2027 winter season, marking the first time the brand bases a vessel in New Zealand. The season runs from May 25 to July 29, with nine cruises including routes to Norfolk Island, Fiji, Vanuatu and New Caledonia. Country manager Peter Little says it answers demand from New Zealand guests. Tourism Minister Louise Upston says having a ship homeported in Auckland is a vote of confidence for the tourism sector. The cruise line's return follows P&O Cruises' merger with Carnival earlier this year and last year's Pacific Explorer homeport. In other news, energy company Jera Nex BP has lodged opposition to Trans-Tasman Resources' seabed mining proposal off Taranaki, warning it would block offshore wind development. The joint venture between Japan's Jera and BP absorbed Parkwind last August, which had been studying a large-scale wind farm in the region. Jera Nex BP says seabed mining is incompatible with wind turbine foundations and cable sites. The project seeks to extract 50 million tonnes of material annually over 20 years. The NZIER estimates it could generate $763 million in exports and over 1,300 jobs. A panel decision is due in March next year. Elsewhere, insurer Maritime Mutual, under police investigation following allegations it covered vessels transporting sanctioned oil, has reported strong financial growth. Financial statements show insurance revenue rose to US$108.5 million in 2024, up 27.9 percent from 2023 and more than fourfold since 2019. Profit increased to US$15.5 million. The company "categorically" rejects wrongdoing, saying it maintains rigorous compliance standards. Headquartered in Auckland with operations in London, Dubai, Singapore and Shanghai, it insures more than 7,100 vessels. Its parent, Maritime Mutual Association Limited, is based in Gibraltar, where the corporate tax rate is 12.5 percent compared with 28 percent in New Zealand. Meanwhile, NZME has lifted its 2025 earnings forecast after stronger-than-expected revenue performance. The media group, which owns the New Zealand Herald, Newstalk ZB and OneRoof, now expects ebitda of between $59 million and $62 million. That compares with earlier guidance of $57 million to $59 million and is about 12 percent higher than last year's $54.2 million. Chief executive Michael Boggs says the improvement reflects revenue gains and continued cost control. NZME will report full-year results in February. Its shares last traded at $1.05 at Monday's market close on the NZX. And Western Sydney Airport recorded its first jet landing as part of emergency simulations and readiness testing. A rural fire service seven-three-seven twinjet touched down. Air New Zealand, Jetstar, Qantas, and Singapore Airlines have signed agreements to use the facility. Air New Zealand expects to begin flights from mid-2027. The airport will operate 24 hours a day, unlike Sydney's Kingsford Smith, and is expected to open in the second half of 2026. 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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