Pattrick Smellie

New Zealand

Director at The National Business Review

Director at BusinessDesk

Human cannonball

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Articles

$600m in annual tourist spend at risk from regulation: Mastercard

1 day ago | businessdesk.co.nz | Pattrick Smellie

International credit card issuer Mastercard fears as much as $600 million of foreign tourist spending in New Zealand will be foregone if the Commerce Commission regulates bank interchange fees to sub-commercial levels.ComCom is due to issue its final determination on whether to cap interchange fees at 0.2% of transaction value by mid-July.If foreign tourists in NZ followed the pattern seen when a similar restriction was imposed in Europe, declined transactions on foreign-issued credit cards...
Chorus broadband expansion makes infrastructure priority list

3 days ago | businessdesk.co.nz | Pattrick Smellie

The only private sector infrastructure on the initial list of 17 top-priority projects from the New Zealand Infrastructure Commission Te Waihanga is one area where we’re already excelling: ultra-fast broadband.The Infrastructure Priorities Programme (IPP) list nominates Chorus’ proposal to take UFB access from 85% of the population at present to 95% in a list that is otherwise heavy with defence base infrastructure replacements and other public infrastructure upgrades.“This proposal is for a...
Govt's NZGIF ‘green bank’ was losing money, underperforming

4 days ago | businessdesk.co.nz | Pattrick Smellie

New Zealand Green Investment Finance was making losses and failing to attract new capital into climate change-related investments at rates achieved by international peers, according to a government-ordered strategic review.The agency, now being disestablished, brokered the ill-fated consortium of international lenders supporting expansion of rooftop solar installations through failed installer SolarZero.
High returns and decarbonisation promised in MyFarm's solar seduction

1 week ago | businessdesk.co.nz | Pattrick Smellie

Imagine you have $50,000 maturing in a term deposit.
Rush to October deadline for on-farm forest plantings

2 weeks ago | businessdesk.co.nz | Pattrick Smellie

A rush of forestry planting on farmland is predicted as farmers and landowners seek to beat an October deadline restricting the inclusion of newly converted farmland in the emissions trading scheme.A report for Beef + Lamb NZ (B+LNZ) by consultants Orme & Associates on land-use change from pastoral farming to large-scale forestry shows that:Almost two-thirds of all farm-forestry conversions, whether for carbon or production forests, involved foreign investors in 2024, at 65.1% compared with...
US consumers ignoring tariffs on NZ King Salmon

2 weeks ago | businessdesk.co.nz | Pattrick Smellie

The 10% blanket tariff imposed by the United States Government on all New Zealand products is having no impact on sales of high-grade salmon sold into that market by New Zealand King Salmon, its chair, Mark Dewdney, told shareholders.“To date, we have not seen a material slowdown in demand,” he said at the annual shareholders meeting on June 11 in Nelson.
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 weeks ago | businessdesk.co.nz | Rebecca Stevenson |Pattrick Smellie

MKTUPDTE Fri, Jun 06 2025 08:30 am Templeton Emerging Markets Investment Trust PLC ('TEMIT') On behalf of TEMIT, Franklin Templeton Investment Trust Management Limited reports the unaudited cum-income net asset value ('NAV') of TEMIT as at 04 June 2025 was £2034.471m, representing a NAV of 200.90 pence per share. The unaudited ex-income NAV of TEMIT as at 04 June 2025 was £1982.560m, representing a NAV of 195.77 pence per share.
Public sector contractor cutbacks hurt Accordant, Being loses the AI, takeovers aplenty, and more

3 weeks ago | businessdesk.co.nz | Rebecca Stevenson |Pattrick Smellie

Stay ahead with BusinessDesk's regular Small Cap Wrap – all the latest small cap opportunities, market trends and more.Recruitment company Accordant is still feeling the pain from reduced Government hiring. The firm, which operates five companies including executive search firm Hobson Leavy, JacksonStone & Partners, Madison Recruitment, AWF and Absolute IT, said its group revenue fell 22% to $165 million for the year to March 31.
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 weeks ago | businessdesk.co.nz | Rebecca Stevenson |Pattrick Smellie

GENERAL Fri, Jun 06 2025 08:30 am Synlait Milk Limited (Synlait) has confirmed its opening forecast base milk price for the 2025/2026 season at $10.00 per kgMS. This forecast is based on a continued optimistic outlook for prices and reflects Synlait’s commitment to (at a minimum) match the industry’s advance rates and milk price. Forecasts are based on the best information to date.
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 weeks ago | businessdesk.co.nz | Rebecca Stevenson |Pattrick Smellie

GENERAL Fri, Jun 06 2025 08:30 am SkyCity Entertainment Group Limited (SKC.NZX/SKC.ASX)6 June 2025SkyCity to file NZICC Legal Proceedings against FletchersSkyCity Entertainment Group Limited (SkyCity) has today provided notice that it is to file legal proceedings against Fletcher Building Limited and The Fletcher Construction Company Limited (together, Fletchers).