Economy
Explore the latest economy news by BusinessDesk
Finance
BNZ provides $108m for covid-19 related impairments
Bank of New Zealand's contribution to its parent bank's covid-19 related impairment charges was $108 million and it also accelerated depreciation of internally generated software, adding $151 million to costs for the six months ended March.That meant BNZ's statutory n...
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Retail
Investore strides ahead on its retail ambitions
Listed retail property owner Investore has reported a marginal improvement in the value of its property portfolio to $761.4 million to 31 March 2020, in spite of uncertainty over covid-19. In an update today, it confirmed the $140.75 million purchase of three retail properties...
Infrastructure
Steel & Tube plans up to 200 staff layoffs
Steel & Tube is planning to make up to 200 staff redundant and warned restructuring efforts and other costs will hurt this year's bottom line.
Markets
MARKET OPEN: Investors likely cheered as lockdowns ease here and abroad
The New Zealand market may get a boost as the covid-19 lockdown ends and as efforts to reopen other economies gather momentum. Today marks the first day under reduced restrictions for New Zealand. Some 400,000 people have returned to work in sectors like construction and accor...
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Pattrick Smellie
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Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
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