Simon Hartley

A proposed 40-turbine wind farm on a ridge behind Mt Maungatua above the Taieri Plain has been increased in size by 25% into a $50 million project which would produce enough power for 11,250 homes.

The future of the $2 billion Five Mile housing project near Queenstown remained unclear last night, after the main company behind the project went into receivership.

Queenstown residential property sales are down 50% on a year ago, which had been reflected in a 50% drop in real estate agents' returns.

Pike River Coal on the West Coast has hired about half of the total 150 staff it will eventually require, but will have to advertise overseas to fill some specialist jobs.

Agressive bond issues by New Zealand's major banks - enticing more than $1.65 billion from customers already this year - are filling the void of foreign borrowing as domestic customers shy away from the ailing finance company sector.

Fisher and Paykel Appliances has put its 16.5ha Mosgiel manufacturing site on the market as it prepares to move its manufacturing facilities offshore - part funded by the proposed land sales at Mosgiel and Auckland.

Mediation may have smoothed the way for Port Otago and more than 200 workers to reach agreement on stalled pay talks which prompted an overtime ban last week.

The directors of Australian-listed energy company Origin Energy - the majority owner of Contact Energy - have for the second time in two months rejected a takeover bid by United Kingdom-based BG Group.

Volatility in New Zealand's sharemarket came home to roost for coking coal producer Pike River Coal whose dream share run came to abrupt halt yesterday after gaining nearly 50% in value in the past month.

The recent prosperity of Southland has been reflected in the results of listed port company South Port, which has announced record tonnage across its Bluff wharves during the past year and an upgrade of its forecasts for an increased after-tax profit.

Up to 20 trades will be involved in a major refit of the 25.4m catamaran Lady of the Sounds, one of five Red Boat passenger service vessels which operate in Milford Sound.

New Zealand Oil and Gas has raised more than $170 million in working capital following the exercise of stock options which attracted an 84% acceptance by shareholders.

An indefinite overtime ban is set to begin at Port Otago from midnight tonight following a breakdown in pay talks and mediation.

Global oil prices remain above last week's record $US140 ($NZ184), raising the likelihood of more increases in store for New Zealanders at the petrol pumps - with 95 octane above $2 a litre for the past eight weeks.

A Queenstown contractor owed money for work on the $2 billion Five Mile residential development on the outskirts of Queenstown is reluctant but "likely" to join litigation to have the companies behind the project placed in liquidation.

Listed company Scott Technology, of Dunedin, has announced 20 redundancies across its Dunedin and Christchurch plants because of diminishing interest in production-line manufacturing.

Oceana has suspended development of its crucial gold and copper mine in the Philippines as it seeks to raise $US185 million ($NZ244 million), which could include a joint venture, merger or new share placement.