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 Monday, September 22, 2025, and here are five stories you should know about. Genesis Energy has signed a two-year agreement with BT Mining to supply 240,000 tonnes of coal to its Huntly Power Station. The deal provides 10,000 tonnes a month from domestic sources, reducing reliance on imported coal, mainly from Indonesia. Genesis chief operating officer Tracey Hickman says the agreement secures reliable local supply to support electricity generation during periods of low renewable output. BT Mining chief executive Richard Tacon says the deal boosts the local economy while maintaining energy security. Resources Minister Shane Jones says domestic coal use strengthens resilience. Huntly typically burns 300,000 to 500,000 tonnes of coal annually. Meanwhile, almost half of New Zealanders report worsening financial situations over the past year, according to fintech Revolut. Survey results show 42 percent of respondents say they are worse off, while 54 percent find managing money difficult. Revolut's Georgia Grange says women and younger people feel the most pressure, with 71 percent of those aged 25 to 34 struggling. Rising inflation, unemployment at 5.2 percent, and food prices up 5 percent in the year to August have added to pressure. Forty-one percent of New Zealanders are building emergency funds as households adapt to ongoing cost-of-living challenges. In property news, Malaysian Resources Corporation Berhad is refurbishing Auckland's heritage-listed Bledisloe House above the new Te Waihorotiu City Rail Link station. The $41 million office block is undergoing exterior work by L.T. McGuinness and interior fitout by Black, with scaffolding expected down in weeks. Council official Allan Young says a deposit has been paid for the 125-year lease, with settlement due later this year. Designed in 1959, the nine-level, 13,000 square-metre building is being modernised by Cheshire and Peddlethorp Architects. Plans also include a $600 million Symphony Centre on the adjoining carpark site, leased to MRCB in 2021. Also today, the Crown Princess arrived in Auckland, marking the start of New Zealand's summer cruise season. Tourism Minister Louise Upston says nearly 177,000 cruise ship visitors are expected across almost 40 ships, down 20 percent from last year. Retail NZ chief Carolyn Young says many regions will benefit from visitor spending, while Heart of the City's Viv Beck highlights downtown retail gains. Increased visitor levies last October contributed to cost pressures on operators. Upston says the Government has introduced fast-track approvals for new cruise infrastructure, including Port of Auckland's Bledisloe North Wharf and passenger terminal development. And in other news, Retirement Commissioner Jane Wrightson will step down next year after nearly six years in the role. She informed Minister of Commerce and Consumer Affairs Scott Simpson she will not seek reappointment. Wrightson oversaw the first major review of the Retirement Villages Act 2003 and recommended Kiwisaver contributions increase to 4 percent, with 16 and 17-year-olds included from Budget 2025. She also championed compulsory financial education in schools, introduced in April. Wrightson says achievements were possible through her team's work. Simpson says recruitment for a new commissioner will begin soon, and thanked her for her leadership. 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.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related