Simon Hartley

A container ship which lost power while navigating Otago Harbour was pulled into deeper water by a tug - having had a near miss with the shipping channel's sandbank.

Profit-taking and unease over Pacific Edge's plunging share price have resulted in its shares shedding more than 60% in value during the past six months.

Submissions for Chatham Rock Phosphate's proposal to suction-dredge phosphate from the Chatham Rise sea floor appear to have generated less opposition than the separate proposal to dredge iron sands off Taranaki's sea floor.

Engine problems have forced Port Otago's new $11 million tug Taiaroa, on its maiden voyage to Port Chalmers, to divert to Lyttelton's dry dock.

The market capitalisation of listed companies with South Island operations grew 35% during the past year, underpinned by Ryman Healthcare and Meridian Energy's post-float growth.

A rights issue by West Coast mine developer Bathurst Resources has fallen flat, with just a 5% uptake on the offer.

The New Zealand stock exchange yesterday received an exemption from the Minister of Commerce allowing it to establish a new stock exchange trading platform with a less onerous disclosure regime for companies.

The Financial Markets Authority (FMA) has issued its first licence for a new peer-to-peer lending service, but outlined a heightened risk profile for lenders seeking higher returns.

On Valley winery Mt Rosa Estate Ltd, which has about 12ha of established vines, has now been put on the market.

National home values have continued steady price increases on a year ago.

Would-be seabed miner Chatham Rock Phosphate is pushing ahead with plans to list on London's mining-friendly AIM stock exchange, while waiting for approvals from the Environmental Protection Authority (EPA).