South Island businessman George Kerr's Torchlight "vulture fund" has taken up an option to inject a further $15.5 million into South Canterbury Finance, via its parent Southbury Group.
The New Zealand dollar traded above US68c yesterday, as currencies worldwide fluctuated wildly on speculation of regulatory market reforms.
Otago miner and explorer Glass Earth Gold has announced it has raised $2.2 million, of an expected total of $4.2 million, from its first tranche of a private placement.
Fisher and Paykel Appliances' finance company has joined four other institutions approved for the Crown's extended retail deposit guarantee scheme. All of them will be covered until the end of next year.
Listed Ryman Healthcare - with more than 4000 retirement rooms across the country - has posted a 16% increase in after-tax profit to a record $61 million for the year, a rise to be matched in shareholder dividend payments.
South Canterbury Finance has recovered $202 million of outstanding loans during the first four and a-half months of the year as it seeks to shore-up cashflows during the year.
Infrastructure investment company Infratil has recorded a turnaround profit for the year, but has cautioned "profound changes" may lie ahead in understanding Government and private co-investment in infrastructure projects.
Cash-strapped Gibbston Valley Wines Ltd's owners are making no comment on whether shareholders have agreed to put up $2.5 million in working capital for the landmark winery, which has lost $2.64 million during the past two financial years.
Award-winning Dunedin brewery Emerson's has installed two new fermentation tanks worth about $100,000 which will increase weekly capacity by up to 60%.
Top Dunedin tourism attraction the Taieri Gorge Railway is expecting turnover of more than $5 million for the first time this financial year and has marked several record milestones in its performance.
KiwiRail's Hillside Engineering in Dunedin has won a $40 million contract to deliver 20 carriages for operator Tranz Scenic.
National manufacturing data has revealed a third month of expansion - April reaching its highest value since 2004 - with Otago down slightly on a month ago, but otherwise "stable within a firm expansionary band".
Record global spot gold prices have seen shares in East Otago-based Oceana Gold spike about 18% during the past two days as investors worldwide flock to the historical safe haven of bullion and gold-producer stock.
Internet-based "cloud computing" is ushering in a new era of growth for Dunedin company TicketDirect - which last year turned over $40 million selling more than 2 million event tickets.
Record gold prices reflect the volatility in global sharemarkets during the past three days as investors react to the almost $US1 trillion ($NZ1.39 trillion) bail-out package for Europe.
Shareholders in loss-making and cash-strapped Gibbston Valley Wines Ltd are being asked to stump up with $2.5 million, or face the prospect of the landmark Central Otago winery being wound up in voluntary liquidation.
Award winning Dunedin-based GPS service provider TracPlus has secured a four-year contract to provide tracking for Australia's national aerial firefighting operations, which could incorporate potentially hundreds of helicopters and fixed-wing aircraft.
An impairment write-down of $26.5 million by Fisher and Paykel Appliances announced yesterday is not expected to affect the full-year profit-line when the company reports at the end of the month.
The contentious 40% mining tax proposed in Australia may prompt listed iron ore giant Fortescue Metals Group - which holds expansive exploration permits around the country - to take a closer look at its holdings here.
City Forests in Dunedin is not rushing to sign up to a Westpac bank pool buying foresters' carbon credits, but believes credit sales will pick up when the emissions trading scheme (ETS) comes into force on July 1.
