Dene Mackenzie

The Bank of New Zealand hopes that the opening of its new "concept store" in South Dunedin will help revitalise retailing in King Edward St.

For nearly 10 years, Duncan Simpson has been the face and voice for employers south of the Waitaki River. He has never pulled any punches in his criticism or support of topics in which he is interested. Business Editor Dene Mackenzie talked to Mr Simpson as he prepares for a career change.

New Zealand's current account widened to 8.9% of gross domestic product in the year ended December to become the country's largest ever deficit.

Remuneration packages for New Zealand company directors and chief executives will continue to be closely scrutinised by shareholders but expectations for high-flying bonuses have all but disappeared.

The extent of the global economic meltdown was outlined in Dunedin yesterday but solutions seemed thin on the ground.

Milk producer Synlait is planning to raise $100 million to fund the expansion of its Dunsandel plant.

Home mortgage rates continued moving around yesterday with the most competition in the floating rate.

ABN Amro Craigs broker Chris Timms remains optimistic and positive about the quality and quantity of bond issues coming to the New Zealand market, despite reservations from some financial advisers.

The flood of bonds into the New Zealand financial markets has created investor interest as bank deposit rates fall. Business Editor Dene Mackenzie finds that not everyone is enamoured with the offers.

The Reserve Bank shaved another 0.5% off the official cash rate yesterday, which was not as much as some expected but it still triggered an early response from retail banks.

The Queenstown Lakes district suffered the largest fall of median house prices in the 12 months ended February, but Real Estate Institute spokesmen say the fall is nothing to be worried about.