Some Dunedin family homes are under threat of being repossessed by banks in default of loans taken out for investments with Hurricane House Ltd, which is in liquidation owing creditors and investors up to $8.5 million.
A collection of fly-fishing equipment - spanning much of the first half of last century - hits the auction block today in one of the largest offerings of fly-fishing gear seen in Dunedin for several years.
A second private Dunedin investment and finance company is in liquidation, owing almost $8.5 million to more than 50 mainly southern investors and creditors, with possibly almost 60% of the amount owed unrecoverable.
Contact Energy and Fonterra have between them raised $1.3 billion in oversubscribed senior bonds during the past three weeks.
The "mortgagee sale" signs have come down from Dunedin's former chief post office, the developer of which owes a finance company more than $7.5 million, but it has not been sold.
The major backers of a $50 million Dunedin wind farm have ended participation in the project, but its southern founders are adamant they will continue and seek other financial backers.
United States sharemarkets were again savaged yesterday following bankruptcy concerns over giant car manufacturer General Motors.
The group profit of the Dunedin City Council's six trading or associated companies declined 30% from $2.6 million from the corresponding time last year to $1.8 million, but umbrella company Dunedin City Holdings Ltd remains adamant it will hit its full-year forecast, a figure which has not been made public.
The financial reports of New Zealand's major retailers are one of the most transparent indicators of the effects of recession, also giving some indication of what's around the corner.
Oceana Gold shares have shed more than 20% in value from a price spike earlier in the week on the back of volatile global gold prices, as investors world-wide sought safe haven invest-ments.
Major New Zealand stocks Contact Energy, Fletcher Building and Telecom took a collective hit of more than $600 million on Tuesday, as investors fled amid trembling world markets, and the New Zealand stock exchange shed more than 2.5% in value overall.
New Zealand Windfarms, which has pulled out of a $50 million wind farm project near Dunedin, has reported an increased first-half 2009 after-tax profit of $2.6 million for the year - doubling last year's $1.3 million profit.
A rock fall at Pike River Coal's West Coast mine last month - estimated to cost $7 million to remedy - has prompted placement of a $45 million ordinary share issue with bonus options, which will also be used to purchase hydro mining equipment.
The New Zealand sharemarket slid 2.5% yesterday after United States markets slumped more than 4% to 12-year lows on the back of giant insurer American International Group (AIG) posting a massive quarterly loss of $US61.7 billion ($NZ126.87 billion) - the largest quarterly loss in US corporate history.
Destination Queenstown's chief executive is calling for an urgent assessment of Queenstown Airport and its potential for development, given the likelihood of increasing tourism capacity around Wakatipu.
Destination Queenstown and budget Australian airline Jetstar are considering a jointly funded marketing campaign for Queenstown across the Tasman and have already completed preliminary talks on the project.
Cash-strapped East Otago miner Oceana Gold has booked a $US54.7 million ($NZ106.8 million) loss for its 2008 operations and delivered a chilling warning for what is likely to be a troubled year ahead.
The application by the Roman Catholic Church for resource consent to develop a $2.5 million 112-pupil primary school in the Speargrass Flat valley, near Arrowtown, may end up in the Environment Court.
Opponents and legal counsel wrangling over the proposed Roman Catholic Church primary school development in Speargrass Flat valley, near Arrowtown, have a few weeks to cool their heels before a decision is made public.
Logistics company Mainfreight yesterday reported a "flat" but credible after-tax net profit of $29.5 million -
