Raising capital focus of Botry-Zen meeting
Raising capital focus of Botry-Zen meeting
Listed Dunedin biotechnology company Botry-Zen will hold its special meeting on Friday, where its proposed $1.8 million capital raising will be discussed.
Simon Hartley
Gold, oil down on rising US dollar
Gold, oil down on rising US dollar
Gold prices continued to tumble yesterday falling to about $US810 ($NZ1162.5) as demand for the US dollar rose amid a further weakening in global oil prices.
Profit not pain for SCF
Profit not pain for SCF
Amid the more than $4 billion carnage of New Zealand's ailing property finance sector, South Canterbury Finance (SCF) has signalled a record pre-tax profit of about $80 million for the year and revealed a war chest available for acquisitions in the recession ahead.
Speedo success satisfies Dunedin scientist
Speedo success satisfies Dunedin scientist
Dunedin sports scientist Prof David Pease enjoyed watching yesterday's swimming finals in Beijing.
Duvlin backs down over appeal
Duvlin backs down over appeal
A group of Dunedin businessmen has decided not to appeal a resource consent decision recently granted to Bunnings $27 million South Dunedin project, but maintains the Dunedin City Council is running "rough shod' over its own district plan.
Botry-Zen difficulties hit shares
Botry-Zen difficulties hit shares
Listed Dunedin biotechnology company Botry-Zen has taken a share price hit as it continues to investigate production difficulties which prompted an assessment whether production targets can be met.
Oceana looks for production boost
Oceana looks for production boost
Oceana Gold's Macraes mine operation in East Otago is going through "tough times" in an attempt to rectify a fall in ore tonnage and gold production.
Canadian company posts loss
Canadian company posts loss
Glass Earth Gold, whose prospects include a $3 million test drilling programme at present under way in Otago, has posted a loss for the year of $C6 million ($NZ8.06 million).
Pump prices may fall below $2 litre
Pump prices may fall below $2 litre
Global oil prices have come off the boil with expectations the New Zealand pump price will head below $2 a litre.
Insolvency threat hangs over cleaning company
Insolvency threat hangs over cleaning company
The owner of Southern Cleaning Services has until next Friday to pay the company's founder $92,000 owing on the purchase price of the business price from two years ago - or potentially face insolvency proceedings under the Companies Act.
54 liquidations so far in Sth Island
54 liquidations so far in Sth Island
South Island company liquidations are steadily tracking towards levels of the past two years with creditors chasing average small business debts of between $200,000 and $250,000.
Botry-Zen's ability to meet targets in doubt
Botry-Zen's ability to meet targets in doubt
Listed Dunedin biotechnology company Botry-Zen - which has raised nearly $10 million in development capital during the past seven years - is concerned with its cashflow situation.
Wage rises likely to keep up with inflation, say unions
Wage rises likely to keep up with inflation, say unions
Major New Zealand unions believe wage rises will keep pace with inflation despite its forecast rise to 5% and the country going into recession.
Miner penetrates toughest section of Hawera fault
Miner penetrates toughest section of Hawera fault
Listed Pike River Coal has punched through the most difficult section of its 2.3km tunnel - the 50m Hawera fault - and is just 182m from reaching the seam of its high-grade hard coking coal in the Paparoa Range near Reefton.
35,000 increase in jobless predicted
35,000 increase in jobless predicted
The first signs that 20-year record low unemployment figures will begin unravelling are expected this week with a forecast of 35,000 people joining the ranks of the unemployed over two years.
Australian banks forecast big debts
Australian banks forecast big debts
Australia's major banks are expected to see debt provisions - largely related to the US subprime mortgage crisis - almost triple to $A6.6 billion next year, but are better placed than US counterparts to weather the mortgage storm and ensuing credit crunch.
Philippines project costly for Oceana
Philippines project costly for Oceana
Oceana Gold's escalating production costs - crucial for its cashflow position - have seen it book a $US10.6 million ($NZ14.6 million) loss for the quarter to June.
Good and bad news for Blis
Good and bad news for Blis
Long-suffering shareholders of Dunedin company Blis Technologies had a slew of good news and bad news to absorb at the biotech business' annual meeting in Dunedin yesterday.
St Clair cafe scene set to swell
St Clair cafe scene set to swell
Development of the fourth of six potential licensed premises at the St Clair Esplanade is under way, with an estimated $400,000 conversion of a $1.3 million house into a bar and cafe making good progress.
Tindall may try for takeover bid again
Tindall may try for takeover bid again
A court of Appeal decision yesterday denying Foodstuffs and Woolworths the opportunity to take over The Warehouse leaves the gate open for either founder Stephen Tindall to relaunch his takeover bid, subject to the increasingly likely scenario the supermarket giants will lodge a Supreme Court appeal.