The receivers of MediaWorks NZ, in preparation for its sale to its senior bank lenders, have committed to retaining all 1400 staff, paying trade creditors and keeping all television and radio programming in place.
The Korean log ship Chitral yesterday remained at anchor off Taiaroa Head at the entrance to Dunedin's harbour for the sixth day.
Record log exports are expected to underpin healthy export receipts in the year ahead, rising from $4.3 billion this financial year towards $5 billion by 2016-17.
Shares in New Zealand and Australia's largest gold producers have bombed in recent weeks, with Australian giant Newcrest Mining shedding $A9 billion ($NZ10.72 billion) in share value during the past year.
Auckland and Canterbury continue to underpin soaring median house prices, but Queenstown recorded one of the highest national median prices nationwide at $568,250.
An almost year-long Serious Fraud Office investigation into disbarred and bankrupt Dunedin lawyer John Milne is frustrating some of his former 35 clients, who in total lost almost $3 million given to him.
Rising Auckland house prices could be flagging a rise in the interest-driving official cash rate (OCR), which the Reserve Bank has keep at a record low 2.5% for the past 26 months.
Christchurch's rebuild and Auckland's expansion are forecast to account for almost half of more than 130,000 new jobs during the next three years.
With natural disasters prompting home and contents insurance premiums to soar 30%, a third of policy holders now rate insurance as a ''luxury''.
Southern port companies' infrastructure spending continues to climb, with Port Otago and Lyttelton Port of Christchurch (LPC) ordering a total of more than $30 million of container handling equipment last week.
Brokerage Forsyth Barr has downgraded forecasts for nine of the 19 companies which have posted their full-year financial results in recent weeks, updating its earnings per share forecasts.
Woodchip export from Otago and Southland has dried up, with 30% declines in both Japanese demand and Chinese prices, likely leaving Port Chalmers' wharves bare for the remainder of the year.
The latest court challenge by environmentalists against proposed coal mining on the West Coast's Denniston plateau has found in favour of mine developer Bathurst Resources.
Two deep-sea trawlers in Dunedin's upper harbour have finished their contract with Christchurch-based United Fisheries and could be in port for several more weeks.
Heartland New Zealand has changed its business strategy and will book an $18 million write-down on distressed loans and investments, which will this financial year result in its after-tax profit cut from an estimated $25 million to $7 million.
Platinum exploration at six South Island sites covering 4422sq km of land is being thrown open to competitive tendering by Government permitting agency New Zealand Petroleum and Minerals (NZPM).
The first phase of $100 million of infrastructure spending by Port Otago was announced yesterday. A contract has been signed for a new $11 million tug, plus two container straddle crane orders worth $2.5 million.
The Central Otago and Lakes region has become the first area in New Zealand where the average residential home asking price tops $700,000.
Millions of dollars could be invested in new projects at St Clair's Esplanade block during the next six months, including a long-running proposal for a three-storey commercial building, valued at more than $2 million.
Port Otago can finally look forward to getting some dividends from its controversial 15.5% stake in listed rival Lyttelton Port of Christchurch (LPC).
