Pressure mounts on cash rate
Pressure mounts on cash rate
Pressure is mounting in the marketplace for a cut to New Zealand's interest-driving official cash rate (OCR), which has already been sitting at an historic low of 2.5% for the past 14 months.
Simon Hartley
Gold, oil slip; buyers prefer cash
Gold, oil slip; buyers prefer cash
Global spot gold and crude oil prices are continuing to fall as investors head back to US cash amid the European financial turmoil and poor economic data from several major economies.
Scott Technology offers staff a share purchase scheme
Scott Technology offers staff a share purchase scheme
Dunedin-based Scott Technology is offering its employees a share purchase scheme which could raise more than $670,000 for the manufacturer of automated systems.
SOE sales opponents raise asset-stripping fears
SOE sales opponents raise asset-stripping fears
Asset-stripping concerns have been raised about more than 90 subsidiary companies attached to the four state-owned enterprises which the Government is preparing for partial sale.
Pyne Gould Corp says it has nothing to hide
Pyne Gould Corp says it has nothing to hide
Investment company Pyne Gould Corp assures fund investors and shareholders it has "nothing to hide", in the wake of speculation on the resignation of its auditor and the Financial Markets Authority's looking into the investment company.
Comment: Mining could be test for EPA process
Comment: Mining could be test for EPA process
West Coast coal mine developer Bathurst Resources, which is preparing to fight two Environment Court challenges this year, has signalled it is considering applying to the Environmental Protection Authority (EPA) for its Buller tenements to be classified "of national significance".
Liquidation of insurance company six months away
Liquidation of insurance company six months away
The liquidation of boutique Queenstown insurer Western Pacific Insurance - which owes more than $65 million to unsecured creditors - appears set to drag on for another six months at least.
Rig shortage hinders drilling
Rig shortage hinders drilling
Oil giant Anadarko Petroleum's offshore drilling programme near Dunedin next summer, estimated to cost more than $US100 million ($NZ124 million) will "almost certainly" be postponed because of a global shortage of oil rigs.
Unemployment climbs to 6.7%
Unemployment climbs to 6.7%
New Zealand is joining the world unemployment crisis, with 9000 more people out of work, bumping the total jobless to 160,000.
Will they, won't they ... no decision yet on oil drilling
Will they, won't they ... no decision yet on oil drilling
Oil giant Shell and its partners have spent more than $50 million over five years on ship-borne seismic surveys of the Great South Basin with "good indications" of the presence of natural gas, but it may be up to two years before a decision is made on test drilling.
Super fund has designs on Harvard's Kaingaroa stake
Super fund has designs on Harvard's Kaingaroa stake
The New Zealand Superannuation Fund is in discussions with the US multibillion-dollar Harvard Management Company over buying its 60% stake of the central North Island Kaingaroa forest estate.
Court will not consider climate change
Court will not consider climate change
Another hurdle has fallen for West Coast coal miner Bathurst Resources, angering environmentalists, with the news the effects on climate change will not make the agenda of forthcoming Environment Court resource consent challenges.
Wage, salary inflation pressures 'subdued'
Wage, salary inflation pressures 'subdued'
Soft labour-market data indicates salary and wage inflation is likely to remain subdued for the rest of the year, with the private sector up 2.1% and public sector up 1.6%.
Tough times forecast for dairy sector next season
Tough times forecast for dairy sector next season
An ugly "reality check" looms for the dairy sector next season if Fonterra payouts are undermined by increasing global production, raising the prospect of indebted dairy farmers struggling to break even.
Auditors resign over 'differences'
Auditors resign over 'differences'
In a surprise move, auditors KPMG resigned yesterday from auditing the books of Pyne Gould Corp - whose group managing director is southern businessman George Kerr - over recognition of "related party transactions".
Building consents rise signals recovery
Building consents rise signals recovery
Building consents for March were up more than 10% at $845 million, led by Auckland and Christchurch, signalling for several analysts some recovery is now under way in the sector.
Greens claim no consultation about offshore drilling
Greens claim no consultation about offshore drilling
Concern about deep-sea oil exploration off the Otago coast has been raised by the Green Party, which claims the Otago Regional Council, Dunedin City Council and the public have been left out of consultations.
Bathurst absorbs losses while awaiting decision
Bathurst absorbs losses while awaiting decision
West Coast coal-mine developer Bathurst Resources continues to absorb multimillion-dollar quarterly losses as it awaits multiple challenges to its resource consents to be heard in the Environment Court.
Companies growth index up
Companies growth index up
The Deloitte South Island Index of 30 listed companies has grown by a total of $1.27 billion in the past three years, but may now have stalled in the face of global market uncertainties.
Scott in joint venture with mining sector specialist
Scott in joint venture with mining sector specialist
Dunedin-based listed Scott Technology has announced a 50-50 joint venture with an Australian-listed mining sector specialist in mineral analysis processing.