Economy
Explore the latest economy news by BusinessDesk
Economy
NZ banks in 'solid position' to lend through covid-19 crisis
The financial system is in a "solid position" for banks to continue lending through the coronavirus crisis, said Reserve Bank governor Adrian Orr in his latest financial stability report. Banks supporting customers facing short-term income declines will contribute to lenders'...
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Markets
MARKET OPEN: Wall Street rally may spill over to domestic market
Hope of a faster recovery and more optimism about a covid-19 vaccine spurred a rally on Wall Street that may spill over to the domestic market. The S&P 500 was up 1.2 percent at 8am in Wellington, the Dow Jones Industrial Average was up 2.2 percent and the Nasdaq increased 0.2...
Finance
Govt's new small business loan scheme lends nearly $1b
The government's small business loan scheme that bypasses banks in favour of the Inland Revenue Department processing applications is proving far more successful than the earlier business finance guarantee scheme. Revenue and Small Business Minister Stuart Nash said the IRD ha...
Primary Sector
NZ dairy sector to tap into $1b of new agri funding
In a bold move, agri-finance company StockCo Capital has launched a new dairy herd leasing service that will allow farmers to tap into $1 billion of new investment as they struggle to raise capital. “It is no secret financial institutions are becoming increasingly cautious abo...
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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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