Liquidation attempt; debt settled
Liquidation attempt; debt settled
Specialist bedding manufacturer Ellis Fibre has settled a debt with an offshore textile supplier, which had been seeking to liquidate the 19-year-old Dunedin company.
Simon Hartley
NZ economy 'solid', global activity steady
NZ economy 'solid', global activity steady
International trade tensions look set to shape the second half of 2018, following ''steady'' global economic activity so far this year.
Businesses increasingly pessimistic
Businesses increasingly pessimistic
Pessimism in business has risen during the past quarter to June, with darkening clouds forming on trading, expectations and profitability outlooks.
Otago business confidence 'particularly downbeat'
Otago business confidence 'particularly downbeat'
Otago, Taranaki and Blenheim were singled out as ''particularly downbeat'' in the latest New Zealand Institute of Economic Research (NZIER) quarterly survey, which overall has struck a seven-year low.
Dunedin house prices up by 9.2%
Dunedin house prices up by 9.2%
The annual growth in the average value of a house in Dunedin is almost double the 5.7% of the country's national figure. It is closely followed by rising house values across Central Otago and Queenstown.
Steel & Tube gains bank waiver, renegotiates terms
Steel & Tube gains bank waiver, renegotiates terms
Beleaguered Steel & Tube - whose shares are down more than 40% on a year ago - has clinched a crucial waiver from its banks for breaching a covenant, and has renegotiated its lending terms.
Slow restructuring one reason for Smiths City loss
Slow restructuring one reason for Smiths City loss
Retailer Smiths City has admitted its four-year-old restructuring programme has been too slow and unfocused.
Auckland residential building consents hit 15-year high
Auckland residential building consents hit 15-year high
Auckland residential building consents hit a 15-year high for May, while any gains in the South were relatively modest.
Hard road foretold for Fletcher’s Aust plans
Hard road foretold for Fletcher’s Aust plans
Beleagured Fletcher Building’s ambitions in Australia are not going to be straightforward as the company grapples with its wide-ranging restructuring plans.
Greater foreign influence expected
Greater foreign influence expected
Foreign house buyers are expected to exert greater influence on New Zealand’s future residential property market and property valuations.
Dovish sentiment surprises some analysts
Dovish sentiment surprises some analysts
Unsurprisingly, the official cash rate (OCR) remained unchanged yesterday at 1.75%, but sentiments are now speculating on the possibility of cuts next year, instead of the expected rise.
Southland employment up but recruiting still an issue
Southland employment up but recruiting still an issue
Almost a third of Southland businesses have employed more people during the past year, but recruitment remains one of the biggest challenges for businesses in the province.
CTU says strikes not fault of Govt
CTU says strikes not fault of Govt
Escalating strike action around the country has been defended by the New Zealand Council of Trade Unions after a stinging attack by Opposition leader Simon Bridges.
Big demand pushing up Dunedin prices
Big demand pushing up Dunedin prices
Dunedin’s property market is on a roll but that is pushing up prices for buyers and renters because of a scarcity of stock.
Fletcher plans ‘believable’
Fletcher plans ‘believable’
Flecther Building’s sweeping restructuring plans have been welcomed as a "believable strategy" as the construction giant prepares to claw its way back to profitability.
Fletcher CEO lays out way forward
Fletcher CEO lays out way forward
Fletcher Building has alerted the market to $95million of costs associated with its wide-ranging restructuring, and signalled the likelihood of further asset writedowns.
Housing affordability rises in Otago and Southland
Housing affordability rises in Otago and Southland
Housing affordability in Otago and Southland has increased, which will be welcome news for first home buyers.
First-quarter trade deficit of $3 billion
First-quarter trade deficit of $3 billion
New Zealand has posted a $3billion first-quarter current account deficit - the largest since the 2007-08 Global Financial Crisis - as imports far outweighed exports.
Oceana Gold lifts production guidance
Oceana Gold lifts production guidance
Oceana Gold has upped its production guidance for calendar 2018, by as much as 10,000 ounces of gold at the top end.
Aust overhaul likely in FBU 5-year plan
Aust overhaul likely in FBU 5-year plan
Fletcher Building is unveiling its five-year restructuring plan in Sydney on Thursday and it is likely Australian operations are in for an overhaul.