Simon Hartley

Otago forestry companies have slashed southern replanting programmes as the sector reels under increasing economic pressures, prompting the loss of more local jobs.

Dunedin tracking service provider TracPlus Global has received certification from the powerful Federal Aviation Administration in the United States.

Hardware giant Bunnings' $11 million South Dunedin premises will open early in 2010 as its construction remains on schedule and with no delays experienced since the April start.

A total of 23 companies have successfully raised more than $4 billion this calendar year in bond and equity issues, with most bonds trading on the secondary market at a premium. ODT business reporter Simon Hartley and ABN Amro Craigs broker Peter McIntyre consider how much more appetite investors have for this alternative capital raising.

The seesawing New Zealand dollar appears set to continue its volatility.

Surging global oil prices, which hit seven-month highs earlier this week, have prompted an upgrade of New Zealand Oil & Gas' financial prospects.

Shares in triple-listed Oceana Gold continued their stellar run, gaining 13% in value yesterday to trade up at an almost year-long high of $1.76 on the New Zealand stock exchange.

Shareholders in the multimillion-dollar Dunedin-based Southern Hospitality may see no dividends for two years, but restructuring and increasing market share could see a return to growth and boost profitability next year.

The United States bankruptcy of motoring giant General Motors will not affect Australian and New Zealand operations which will come under the umbrella of the "New GM" split of the ailing 101-year-old US company.

Bitter legal wrangles, and now separate liquidation proceedings, continue in relation to the $30 million receivership of Big Sky Dairy Farm near Patearoa in Central Otago - one of the country's most ambitious dairying projects.

Oceana Gold has purchased 575ha of farm land near Hyde on which it intends to extend its Macraes gold-mining operations in the long term.

Six tenders for the historic 125-year-old former BNZ building and two adjoining premises in Princes St in Dunedin have been rejected and the trio of buildings is back on the market.

Dunedin businessman and former biotech head John Scandrett has been appointed chief executive of the Otago Southland Employers Association.

Dunedin-based Blis Technologies - which recently raised $3.5 million of additional capital - has booked a loss of $488,000 for the year to March, a 20% decline compared with last year's $617,000 loss.

Chinese appliance manufacturing giant Haier has taken a 20% stake in debt-laden Fisher & Paykel Appliances for more than $80 million.

Otago's regional rating has slipped a notch for the first quarter of the year with tourism and related retail spending the main culprits, according to an ASB bank survey for the quarter ended March.