New chairman latest company move
New chairman latest company move
The latest board-room move amid South Canterbury Finance's restructuring has been to elect Queenstown-based independent director Bill Baylis its new chairman.
Simon Hartley
New Zealand market mirrors overseas plunge
New Zealand market mirrors overseas plunge
Shares plunged almost 2% on opening on the New Zealand stock exchange yesterday, mirroring a global sell-off in the face of further European sovereign debt uncertainties.
SCF to hit road in bid for investor support
SCF to hit road in bid for investor support
South Canterbury Finance - seeking to drum up further investor support to underpin its recapitalisation and restructuring - is running a series of public meetings this week.
New Santa Sabina apartments offered
New Santa Sabina apartments offered
A year on from the liquidation of the original company developing the Santa Sabina apartments, the project's new Australian owner of the Northeast Valley, Dunedin, project is advertising a 12-apartment development with a retail value of up to $3.4 million.
SCF borrows $25 million more
SCF borrows $25 million more
South Canterbury Finance yesterday announced it has increased its lending from South Island businessman George Kerr's Torchlight fund by $25 million to $100 million, but the move could possibly prompt a credit rating review by rating agency Standard and Poor's.
English welcomes Heartland plan
English welcomes Heartland plan
Proposals for starting a listed New Zealand-owned, South Island-based bank have been welcomed by Minister of Finance Bill English, to fill the lending gap left by the exit of finance companies during the past two years.
NZ generators opt for ASX hedging
NZ generators opt for ASX hedging
Five New Zealand power generators, which banded together to trade forward contract hedging derivatives as EnergyHedge, have snubbed New Zealand stock exchange attempts to become the trading platform, instead opting to join the Australian stock exchange.
Debt, credit rating the worry
Debt, credit rating the worry
The "biggest issue" facing the Government remains the cost of its external debt - forecast to spiral by 44% from $170 billion this year to $250 billion by 2014 - and its "vulnerability" to retain crucial international credit ratings.
Kiwi on wild ride settles above US67c
Kiwi on wild ride settles above US67c
The New Zealand dollar settled yesterday above US67c following a wild ride in overnight trading, as the euro hit a four-year low against the US dollar.
New bank promises benefits for South
New bank promises benefits for South
A South Island-based "Heartland" bank proposal - targeting a share of the $47 billion agricultural and the $73 billion business lending markets - will put pressure on the likes of lenders Rabobank, Kiwibank, South Canterbury Finance and the SBS Bank.
Heartland 'steals march' on competitors
Heartland 'steals march' on competitors
The proposed nationwide "Heartland" bank merger has "stolen a march" on competitors Kiwibank and South Canterbury Finance in announcing a listing on the New Zealand stock exchange.
F&P Appliances posts full-year loss of $83m
F&P Appliances posts full-year loss of $83m
Fisher and Paykel Appliances has posted a full-year after-tax loss of $83.3 million, having been hit by asset impairments of more than $100 million.
Channel dredging application lodged
Channel dredging application lodged
Port Otago has lodged a resource consent application with the Otago Regional Council for its proposed "next generation" $100 million channel deepening project.
Mainfreight increases profitability
Mainfreight increases profitability
Logistics company Mainfreight has delivered an increased 2.5% after-tax profit of $36.37 million for the year, and reintroduced staff bonuses of more than $3 million.
Oceana hits a record $4.40
Oceana hits a record $4.40
Oceana Gold shares hit a record yesterday of $4.40 after gaining 15% in value.
Fonterra hints payout could exceed $8 a kg
Fonterra hints payout could exceed $8 a kg
Fonterra has announced an opening forecast for the 2011 season of up to $7.10 per kilogram of milksolids, broadly hinting the final payout "could be well above $8", which would be a payout record.
Last day for submissions on conservation area mining
Last day for submissions on conservation area mining
Submissions close tomorrow on the proposed changes to the Crown Minerals Act which could result in conservation areas, presently excluded from mining under its schedule four, opened up to mining exploration.
Potential buyers on shortlist for Botry-Zen
Potential buyers on shortlist for Botry-Zen
Two buyers have been short-listed for failed Dunedin biotech company Botry-Zen, which was placed in receivership last December owing $2.6 million and delisted from the stock exchange in early April.
US sales highlight as Blis posts loss
US sales highlight as Blis posts loss
Dunedin-based Blis Technologies, which has more than doubled its sales in the United States, yesterday booked its sixth consecutive full-year loss but otherwise appears to remain on a sound footing.
South Canterbury Finance hails 'turnaround'
South Canterbury Finance hails 'turnaround'
Beleaguered South Canterbury Finance is hailing its quarter to March as a "break-even" trading result and a "turning point" from huge losses of almost $200 million during the past 18 months because of its soured property-lending portfolio.