Data shows size of economic problem - English
Data shows size of economic problem - English
Confirmation the economy has suffered at least five quarters of recession underlines the challenges ahead, Finance Minister Bill English said today.
Economic downturn
Downturn hits up-market restaurants
Downturn hits up-market restaurants
Several fine-dining restaurants in Otago are closing permanently as the recession bites and customers choose to eat at home more often.
Operators take prudent approach
Operators take prudent approach
Southern Lakes skifields are maintaining a fiscally prudent approach to the season's start and are ready to react should visitor numbers exceed expectations.
Service sector hurting,business index shows
Service sector hurting,business index shows
The economic slowdown hit the Otago-Southland services sector in May, evidenced by a sharp drop in the BNZ Capital-Business NZ Performance of Services Index.
MPs lash out at banks in report
MPs lash out at banks in report
MPs have lashed out at banks for failing to reduce mortgage rates, for protecting their profits, and in the case of Australian institutions, for treating New Zealand firms differently.
Cadbury job cuts confirmed
Cadbury job cuts confirmed
Cadbury has confirmed more jobs will be cut at its Dunedin plant.
Two Queenstown firms fold in crisis
Two Queenstown firms fold in crisis
Two Queenstown companies are the latest casualties of the economic downturn.
Employment figures expected to take a hit
Employment figures expected to take a hit
Employment and wage data will dominate the week ahead, with economists' expectations of rising unemployment likely to be proven correct on Thursday.
Govt to expand 9-day fortnight
Govt to expand 9-day fortnight
The Government is expanding its nine-day fortnight job support scheme to include businesses with 50 to 100 workers, Prime Minister John Key said today.
Downturn minor at Mt Pisa vehicle testing facility
Downturn minor at Mt Pisa vehicle testing facility
Otago's rural areas are being hit by the recession, but it is not all gloom. As Simon Hartley discovered, the automotive testing facility on top of Mt Pisa has many international clients booked.
Industry leaders confident exports will remain steady
Industry leaders confident exports will remain steady
Central Otago's wine and fruit industries are not immune to recession, but industry leaders are confident the district can pull through tough times with hard work and common sense.
Farmers president up beat about region
Farmers president up beat about region
Lake Hawea high-country farmer Richard Burdon doesn't feel depressed about the regional economy.
All you need is love - and chocolate
All you need is love - and chocolate
Wanaka businesswomen Cathie Davis and Pip Freeman exude a confidence born from a passion for chocolate, paper and things French.
Grim times: region too specialised to be robust
Grim times: region too specialised to be robust
Berl economist Dr Ganesh Nana is painting a grim picture of how Wanaka and Queenstown will fare in the aftermath of the recession.
Riding out the recession
Riding out the recession
The world, we are constantly told, is in the middle of a recession.
$25m drop in building activity in lakes area
$25m drop in building activity in lakes area
There has been a drop of more than $25 million in the total value of building projects in the Queenstown Lakes District in the past nine months compared with the same period last year.
Signs hopeful for China's economy - Key
Signs hopeful for China's economy - Key
Chinese leaders say their economy has been hit by global downturn but there are signs of improvement, Prime Minister John Key said today.
NZers staying home more
NZers staying home more
The nation appears to be collectively enjoying a cheap night at home during the recession with a home-cooked meal, bottle of wine and a DVD.
Summit Wool goes for nine-day fortnight
Summit Wool goes for nine-day fortnight
Staff and management at an Oamaru wool spinning company have negotiated a nine-day fortnight in a bid to adapt to changing economic conditions.
Library attendance up 30% as recession bites
Library attendance up 30% as recession bites
Dunedin's libraries have reported an almost 30% increase in visitors, mirroring a worldwide trend of people choosing cheaper pastimes during the recession.