The future success of the Clutha District relies on the
fortunes of its sheep and beef farmers, but the loyalty of
its residents has played a major part in the way the district
has survived the recession.
The South Island economy
has received a major boost with the inclusion of troubled
finance company South Canterbury Finance in the Government's
extended retail deposit guarantee scheme from October 12.
South Island employers have reported the highest level of
confidence across New Zealand, with a net 26.1% of employers
indicating an intention to increase their permanent staff
levels in the months ended June.
National Australia Bank yesterday won the first round in its
$A14 billion ($NZ18.1 billion) takeover plan of AXA Asia
Pacific (AXA AP), but it still must await the decision of the
Australian competition watchdog.