Economy
Explore the latest economy news by BusinessDesk
Markets
Covid-19 to dominate; markets gear up for rate cuts
Markets continue to be roiled by the global spread of covid-19 and most are now bracing for further rate cuts.“Equity markets continued their aggressive sell off, though buyers emerged into the US close on hopes of a Fed lifeboat. The market is now pricing in a 25 basis-point cut...
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Services
Govt dashes hopes for Chinese student travel exemption
The government has dashed universities' hopes of a temporary exemption for around 6,000 Chinese students who have been unable to start their studies in New Zealand because of the ban imposed on travel from China following the coronavirus outbreak.Universities New Zealand had lobb...
Primary Sector
Foresters, ports watching for March virus impact
Foresters and ports are preparing for further deterioration in log exports on signs Chinese wharves may be close to capacity as coronavirus keeps large parts of the world’s second-largest economy shut.Port of Tauranga today trimmed its full-year profit forecast on risks that trad...
Law & Regulation
Flawed procurement, shoddy oversight led to budget leak – report
The Treasury’s inadvertent online leak of budget information last year all stemmed from sloppy IT procurement and shoddy oversight, according to an independent report.The inquiry led by Jenn Bestwick found the root of the failure dated back to 2014 when the Treasury started a pro...
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Pattrick Smellie
Founding Editor
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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