Many companies with question marks over their level of debt may yet come to the market to raise capital this year, as businesses seek to underpin cash flows and pay debt in the tightening credit market.
Unemployment levels nationally have reached 5% for the first time in six years, with 7000 people joining the jobless ranks in the past three months.
Two Christchurch hotels of 20 in the South Island caught up in the receivership of four CEA hotel management companies are to close, with the loss of five jobs.
Telecom's share price remained steady yesterday following an announcement it and rival Vodafone had reached an out-of-court settlement over interference between mobile networks, which was being contested in the High Court this week.
Air New Zealand has been described as "abusing" its position with the cancellation of Dunedin flights while extracting a "premium" on fares, the Otago Chamber of Commerce has claimed.
The original developer of the contentious Santa Sabina 42-apartment complex in Northeast Valley has been placed in voluntary liquidation owing an unspecified amount to a finance company, a local construction business and other creditors.
Telecom is expected to report a decline in after-tax profit of more than $100 million for its third-quarter result on Friday, but brokers are not expecting any announcement of changes to overall financial guidance.
Annual wage growth, including overtime, grew 3.3% for the year but on a quarterly basis increased just 0.6%, its lowest rate during the past two years.
Dunedin's harbourside rezoning proposals should be stopped and go back to the drawing board for more consultation, the Dunedin City Council draft annual plan hearing was told yesterday.
Southern investors enmeshed in litigation over claims for settlement on the Pounamu apartment complex in Queenstown are joining a counter-claim group seeking more than $1 million from the developers and other associates.
Fly-fishing film-maker Gin Clear has secured its first European film tour, which will include a two-month Icelandic stopover for shooting its next feature film.
A High Court judgement for payment of more than $1 million for a Queenstown apartment - including $400 a day in penalty interest - is being disputed by Mosgiel real estate agent Paul Baines, a former salesman for the McEwan Group's separate failed Hilton Dunedin development.
East Otago-based Oceana Gold has achieved its best quarterly gold production in 19 years, in the process turning around a $US11 million ($NZ19.4 million) quarterly loss last year to a $US9 million ($NZ15.9 million) profit.
Most of the 300 bar jobs at stake in the receivership proceedings concerning 20 South Island hotels are likely "to be preserved", receivers McGrath Nicol said yesterday.
Contact Energy is tipped to be considering a rights issue to underpin its capital expenditure requirements of more than $2 billion for up to four years.
The annual six-day Wanaka-based Southern Lakes Festival of Colour will this year include Glenorchy in its touring programme for the first time.
Michael Swann, imprisoned for nine and a-half years for defrauding the Otago District Health Board of almost $17 million last December, has lodged a notice of appeal against the length of his non-parole period.
A group of companies trading under the CEA banner - owning 20 mainly southern hotels and bars, and employing about 300 people - has been placed in the hands of receivers.
Fisher and Paykel Appliances yesterday began its move into the Dunedin City Council's Wall Street mall in George St, where it will operate a prototype engineering workshop under the existing commercial/retail resource consents.
The proposed multimillion-dollar development of Dunedin's former chief post office and separate Pounamu managed apartment development in Queenstown has exposed many southern investors to losses of potentially millions of dollars
