Shareholders in PGG-Wrightson have rubber-stamped the $100 million sale of PGG Wrightson Finance to the proposed Heartland bank, and also Ngai Tahu taking a 7.24% stake in Agria, PGG-W's majority 50.1% shareholder.
The Dunedin City Council is split over whether or not Dunedin should be proactively marketing itself as a destination for Christchurch business and families considering relocation.
The resource consent hearing in Westport for listed Australian coal miner Bathurst Resources' proposals to mine 2 million tonnes of hard coking coal has been adjourned so potential consent conditions can be considered by all parties.
Emergency oil supplies released by the 28-member International Energy Agency took markets by surprise on Thursday, prompting a plunge in oil and gold prices alongside downturns in the major United States, European, Asian and Australian bourses.
OLAM International has agreed to extend its credit limit by up to $US35 million ($NZ42.9 million) to takeover target listed New Zealand Farming Systems Uruguay, in case it has to repay an overseas $US16 million bank loan next Thursday.
Domestic Ohai coal will be on sale again by mid-August, after Solid Energy found 50,000 tonnes of recoverable resource at its open-cast mine at Ohai, where it is rehabilitating earlier mining work.
Singaporean commodities giant Olam International's bid to clinch 100% ownership of New Zealand Farming Systems Uruguay appears to have stalled, with less than a week to go before the acceptances deadline.
State-owned enterprise Solid Energy and listed Australian miner Bathurst Resources - together targeting annual West Coast coal extraction beyond five million tonnes - have agreed to collaborate on mining the Denniston Plateau.
Greece's mounting economic turmoil, spurred on by its immediate need for a crucial 12 billion ($NZ21.2 billion ) bailout package, has prompted ANZ New Zealand not to go ahead with a 1 billion ($NZ1.76 billion) euro-denominated bond issue.
The time-frame of Port Otago's expanded dredging operations will be eased back with the imminent vessel downsizing by its largest customer, shipping giant Maersk, which begins from August 1.
Shares in dual-listed insurer Tower have been pummelled this year dropping almost 25% in value, reflecting uncertainty about premium increases in New Zealand and Australia.
L&M Energy is targeting early August to hook up its coal seam gas pilot programme to a 1MW generator near Ohai in Southland.
Failed Dunedin businessman Paul Nicholson is continuing in his bid to resurrect another private investment company, following the collapse of its predecessor, Hurricane House, owing more than $4 million.
Singaporean commodities giant Olam International has extended its offer date for its 100%, $37.6 million takeover of listed New Zealand Farming Systems Uruguay, but will not increase its 70c per share offer.
Southern exports are unaffected by the national shortage of shipping containers, which has been further compounded by the use of thousands around Christchurch to form protective barriers.
Three years after mothballing its northern Philippines gold and copper development mine, triple-listed Oceana Gold has announced construction will resume on the $US185 million ($NZ226 million) self-funded project.
Dunedin bike specialist Cycle Surgery was placed in voluntary liquidation yesterday, possibly prompted by the withdrawal of a major cycle supplier.
Collapsed boutique Queenstown company Western Pacific Insurance, owing more than $40 million at present, was rejected for membership of the Insurance Council of New Zealand.
PGG-Wrightson has agreed to sell its finance division's up to $430 million rural loan book to fledgling bank Heartland New Zealand for about $100 million, which includes capital raising of a minimum $55 million from private placement and a share purchase plan.
Final decisions on whether dairy giant Fonterra will look at inaugural bond issues in Australia and China appear to be several weeks away, but if they go ahead they are likely to be well supported by investors, according to broker Craigs Investment Partners.
