BusinessDesk

Since 2008, Pattrick Smellie and Jonathan Underhill, two highly experienced business journalists from New Zealand, have transformed the BusinessDesk team into the leading provider of business and market news in the country. Their expert news articles and insights are delivered to every major online publisher in New Zealand, as well as to AAP in Australia and a variety of media outlets across Asia. The comprehensive business news service includes in-depth coverage of financial markets, key business and economic news, and thorough reporting on NZX-listed stocks and bonds. For any questions regarding the republication rights of BusinessDesk's wholesale content, please feel free to reach out.

International, Trade/B2B

English

Online/Digital

Outlet metrics

Domain Authority

Ranking

Global

#80905

New Zealand

#274

News and Media

#26

Traffic sources

Monthly visitors

Articles

Genesis takes another step in increasing NZ's battery capacity

2 days ago | businessdesk.co.nz | Ian Llewellyn

Grid-scale batteries are taking another step forward in New Zealand, with Genesis starting construction on a 100-megawatt battery adjacent to the Huntly power station.It follows Meridian’s 100 megawatt (MW) installation in Ruakaka, which was completed recently, and WEL Network’s 35MW battery, which began operating in 2023, also near the Huntly station.Batteries are ways of storing electricity when it is cheap and then discharging it back into the national grid when prices are high.High prices...
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 days ago | businessdesk.co.nz | Ian Llewellyn

MKTUPDTE Thu, Jun 05 2025 12:02 pm KFL undiluted NAV as at 4/6/25 - $1.3465 (after deducting 2.75cps dividend payable) Date 4/6/2025 31/5/2025KFL undiluted NAV $1.3465 $1.3728Share price close $1.32 $1.34 Discount 2% 2%The above net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is after deducting an accrual for a 2.75 cents per share dividend to be paid on 27 June 2025.
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 days ago | businessdesk.co.nz | Ian Llewellyn

TRANSACT Thu, Jun 05 2025 03:37 pm 5th May 2025Vital Receives Takeover Notice from Tait InternationalVital Limited (the Company or VTL) advises that it has received a formal notice under the Takeovers Code from Tait International Limited (Tait) giving notice of Tait’s intention to make a full takeover to acquire all the equity securities in VTL, being ordinary shares and options issued to employees. The offer price for the shares is $0.45 per share, payable in cash.
BusinessDesk | NZ Economic News & Commentary by Leading Kiwi Journalists

3 days ago | businessdesk.co.nz | Ian Llewellyn

TRANSACT Thu, Jun 05 2025 02:57 pm Takeover Notice under Rule 41 of the Takeovers CodeTait International Limited (Tait) advises that pursuant to Rule 41 of the Takeovers Code (Code), it intends to make a full offer under the Code to purchase all of the equity securities in Vital Limited (VTL).
ASB Bank says bar is high for official cash rate cut in July

3 days ago | businessdesk.co.nz | Rebecca Howard

The bar is high for a July rate cut, ASB Bank says.“It would take a significant deterioration in key US trade negotiations or other strong evidence that NZ inflation is rapidly cooling for the RBNZ to follow through with a July cut,” ASB senior economist Mark Smith said. While it can’t be ruled out, “there is value in waiting”. The Reserve Bank of New Zealand (RBNZ) cut rates by 25 basis points to 3.25% in late May and its official cash rate forecasts indicate it expects to cut rates further.
Half-steam ahead: KiwiSaver flows slow as retail funds track higher

4 days ago | businessdesk.co.nz | David Chaplin

KiwiSaver chugged through another financial year to arrive at March 31 about 11.5% ahead of its April 1, 2024, departure point, according to the latest Reserve Bank of New Zealand quarterly fund-spotting report.Fuelled by the usual mix of mandated contributions and investment performance, the retirement savings regime clocked in a faster growth rate than the almost 11% recorded by the broader managed funds market as measured by the RBNZ.“Total funds under management increased by 1.2% to...
Steven Joyce, Jim Grenon join NZME board as Stuff deal casts shadow over shareholders' meeting

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

NZME shareholders got to meet their company’s board disrupter, Jim Grenon, in the flesh for the first time at the company’s June 3 annual meeting.The normally publicity-shy Canadian investor, who described himself as “a bit of a ghost on Google”, started by making the point that the experience was new territory for him, despite a long career in corporate life in Canada and the United States.“I’ve never once in had to pitch myself to the meeting in 50 years,” he said at an annual meeting that...
Tiwai smelter ramps up as winter electricity outlook brightens, and reports earnings

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

An improving outlook for electricity supply this winter has allowed the Rio Tinto aluminium smelter at Bluff to ramp back up production and end its winter “demand response” action earlier than anticipated.The smelter had cut its electricity use by 50 megawatts (MW) under the 20-year supply agreement it settled with Meridian Energy in May last year, in anticipation of electricity shortages that sent wholesale power prices skyrocketing last winter.
My Net Worth: Patrick Gamble, CEO Perpetual Guardian

5 days ago | businessdesk.co.nz | Jacques Steenkamp

Patrick Gamble is the chief executive of the Perpetual Guardian Group. He has a storied career, spanning time abroad and as a lawyer. He is married to Simpson Grierson partner Anastasiya Gamble, and the couple has a 5-month-old son, Alexander Norman.I was born and raised in the early 1980s in a place called St Kilda in South Dunedin. However, I spent my childhood growing up in Galway, Ireland, where I started school.
TradeMe takes 50% of Stuff Digital

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

News publisher Stuff Digital is to be 50%-owned by auction site TradeMe in a deal that will put Stuff and its primary competitor, NZME, head to head in the fiercely competitive real estate and motoring advertising markets.Announced just hours before NZME’s annual meeting, where the final act in a tumultuous tussle for board rejuvenation will play out, the deal appears to make Stuff Digital an additional arm of TradeMe’s already wide reach in the New Zealand online classified advertising...