Experts' investment choices for 2009
Experts' investment choices for 2009
This year investors will be trying to recoup some of their losses from the horrible investment year that was 2008.
Simon Hartley
Proposed port amalgamation adds up
Proposed port amalgamation adds up
The merger proposal between Port Otago and Lyttelton Port of Christchurch appears to be settling in for the long haul as LPC "creeps" its shareholding up further under rules of the Takeover Code - while remaining below 5% a year.
Expect 20% payout drop, farmers told
Expect 20% payout drop, farmers told
West Coast dairy farmers have been hit with notification of a 20% drop in their payout this year, reflecting deepening countrywide concerns over the plummeting global price of dairy products.
Investor irked by wait for receivers' report
Investor irked by wait for receivers' report
The receivers' first report on the demise of Dunedin-based St Kilda Finance is not due until next month and at least one investor is critical of the time taken to investigate the almost $7 million owed to investors.
Deficit up to $6 billion; in line with expectations
Deficit up to $6 billion; in line with expectations
A surge in oil prices and plummeting dairy commodity prices all contributed to an expected increase in the New Zealand's third quarter current account deficit to $6 billion, with the likelihood it will get worse before it gets better.
Second annual house price fall likely
Second annual house price fall likely
Home prices around the country are expected to slump further next year, for the first time repeating a consecutive decline not experienced since the 1950s.
Kiwi up 2.8c against weak US currency
Kiwi up 2.8c against weak US currency
The New Zealand dollar spiked 2.8c against the United States dollar yesterday within hours of the US Federal Reserve boldly cutting the target of its federal rate to boost lending to companies and consumers.
Risk of grievance claim blocked Swann audit
Risk of grievance claim blocked Swann audit
Former Otago District Health Board financial officer Ewan Soper says Audit New Zealand never specifically audited its chief information officer Michael Swann, even after the board received a letter that raised concerns about Swann's honesty.
Soper signed Sonnford request
Soper signed Sonnford request
Former Otago District Health Board financial officer Ewan Soper yesterday confirmed he signed a $48,000 payment request for Sonnford Solutions Ltd in November 2000.
Confidence over CPO site future
Confidence over CPO site future
A proposal to redevelop Dunedin's former chief post office into a Hilton Hotel valued at $85 million is unaffected by the imminent sentencing of developer Dan McEwan.
Indicators not all doom and gloom
Indicators not all doom and gloom
Overall, Otago business confidence remains slumped in negative territory, but it could be back in the black by mid 2009, the Otago Chamber of Commerce is predicting.
Skeggs had raised Swann concerns
Skeggs had raised Swann concerns
The personal income and expenditure of Michael Swann was queried by Dunedin businessman Sir Clifford Skeggs, who yesterday said he informally raised concerns with members of the Otago District Health Board.
Swann alert not 'ignored'
Swann alert not 'ignored'
A warning to the Otago District Health Board about Michael Swann's extravagant lifestyle was not "ignored", chairman Richard Thomson yesterday confirmed.
Hilton developer guilty of breaches
Hilton developer guilty of breaches
Proposed Dunedin Hilton developer Dan McEwan is further mired in court action after he was convicted on six Securities Act breaches in the Auckland District Court.
Government bonds oversubscribed
Government bonds oversubscribed
Auctioning of a $150 million government bond issue yesterday prompted oversubscriptions in the near and longer term of three bond tranches, but only one of the tranches was accepted.
Swann letter 'prompted action'
Swann letter 'prompted action'
Former Otago District Health Board chairman Ross Black says the then board could not substantiate the contents of a letter sent in July 1998 warning hospital management about its decision to employ Michael Swann.
F&P moving design work to Dunedin
F&P moving design work to Dunedin
A former United States-based design and engineering centre for manufacturer Fisher and Paykel Appliances will be relocated to Dunedin, when the whiteware manufacturer can find suitable central city premises for its remaining 130-plus staff.
Legal costs will be about $1 million, says chairman
Legal costs will be about $1 million, says chairman
The Otago District Health Board has rejected speculation its legal costs for the $16.9 million fraud trial which ended in two convictions last Friday will be more than $3 million.
Oceana Gold puts Didipio Philippine mine in mothballs
Oceana Gold puts Didipio Philippine mine in mothballs
The global credit crunch has claimed another victim with Oceana Gold mothballing its proposed copper and gold development in the northern Philippines after a fruitless six-month search for outside...
Supreme business award to Nichols
Supreme business award to Nichols
Nichols Garden Group has won the supreme business excellence award at the biennial Westpac Otago Chamber of Commerce Business Excellence Awards.