Young Otago foresters recognised
Young Otago foresters recognised
The Southern Wood Council has provided a new scholarship alongside its annual apprentice of the year award this year, both to young forestry workers of Otago.
Simon Hartley
$1.2m subdivision deposit forfeited
$1.2m subdivision deposit forfeited
Dunedin property investor Paul Nicholson has forfeited a $1.2 million deposit after failing to settle the balance of $10.8 million on the Bendemeer subdivision near Lake Hayes, in Central Otago.
Time to fix the floating mortgage
Time to fix the floating mortgage
The Reserve Bank's historically low interest-driving official cash rate of 2.5% is expected to remain unchanged when reviewed on Thursday, but floating mortgage holders are likely to begin shopping to lock in fixed-term mortgages.
Maersk dumps Port Taranaki
Maersk dumps Port Taranaki
Container shipping giant Maersk says it is abandoning Port Taranaki, the main port on the North Island's west coast.
CGT costs 'no higher than for income tax'
CGT costs 'no higher than for income tax'
Labour's controversial proposal to introduce a capital gains tax - estimated to reap $26 billion over 15 years, principally from property sales - does not include any details of the crucial administrative costs involved.
Franchise operator in liquidation;$348k short
Franchise operator in liquidation;$348k short
Another Otago building franchise operator has been placed in voluntary liquidation - owing more than $400,000 - after a compromise for creditors failed to gain their backing.
Multiple offers for St Clair properties worth $4.4m
Multiple offers for St Clair properties worth $4.4m
Multiple offers are being considered for parts of a block of five adjacent properties in the Esplanade precinct at St Clair, with a combined valuation of $4.4 million.
Kiwi hits US85.69c high on positive US news
Kiwi hits US85.69c high on positive US news
The New Zealand dollar continued its acceleration to hit a new record against the US dollar yesterday as overseas investors' appetite for risk increased, including their exposure to higher-yielding currencies.
Heartland $3m extra bid
Heartland $3m extra bid
The proposed Heartland bank will seek an extra $3 million to take its overall capital raising to $58 million, to go towards the $100 million purchase of listed PGG-Wrightson's rural loan book, valued at up to $430 million.
Inflation likely to nudge interest rates
Inflation likely to nudge interest rates
Historically-low interest rates are expected to rise within three months, with some economists predicting a 70%-80% likelihood of hikes by October and inflation remaining above 5%.
5.2% inflation expected
5.2% inflation expected
Escalating fuel and food prices appear set to boost second-quarter inflation by 0.8% to a worrying 5.2% for the Reserve Bank when the consumer price index is released this morning.
CGT means 'significant changes to tax regimes'
CGT means 'significant changes to tax regimes'
Labour's proposed capital gains tax - labelled a populist "envy tax" - appears built on a mountain of complexities that could lead to the need to overhaul several aspects of the present tax regime.
GDP growth surprise to economists
GDP growth surprise to economists
New Zealand's measure of gross domestic product was 0.8% growth for the quarter ending-March, surprising some analysts whose average forecast was at 0.4% growth.
Weak US dollar pushes kiwi higher
Weak US dollar pushes kiwi higher
A weakened United States dollar underpinned the New Zealand's dollar reaching a post-float high of US85.06c yesterday, which followed hard on the heels of global spot gold prices also topping a record $US1584 ($NZ1867) per ounce overseas.
Labour's capital gains tax a gamble
Labour's capital gains tax a gamble
Labour has several hooks to overcome in its bid to boost the government's tax take by more than $25 billion.
Gold prices near record
Gold prices near record
Global spot gold prices have rallied to near record levels as the European debt crisis centred on Italy and Spain intensifies and investors seek safer, risk-free, havens.
Contact Energy shares reach seven-year low
Contact Energy shares reach seven-year low
Contact Energy shareholders have followed consumers, fleeing the electricity retailer's stocks as droves of customers sign up elsewhere.
Discussion paper raises issue of port ownership
Discussion paper raises issue of port ownership
The vexed question of port ownership, control and productivity ha again been raised in a wide-ranging transport sector discussion paper released by the Productivity Commission yesterday.
Postponement of GDP disclosure leaves economists wondering
Postponement of GDP disclosure leaves economists wondering
The week-long postponement by Statistics New Zealand on releasing the second quarter GDP (gross domestic product) data has economists querying whether it portends good or bad news in the wake of the February quakes in Christchurch.
New network aims to take innovation to market
New network aims to take innovation to market
Otago has staked a claim as a founding member in a new science and technology commercialisation network with combined annual research funding of $500 million, between several universities and crown research institutes.