Dene Mackenzie

Warehouse report downgrades profit

Warehouse report downgrades profit

The Warehouse Group trading update released yesterday was described as a ''shocker'' after the company downgraded its profit forecast for the first half of the trading year ending on January 25.

Dairy prices lift at auction

Dairy prices lift at auction

Whole milk powder prices were yet to show the type of recovery required to support Fonterra's $4.70 per kilogram of milksolids farm-gate milk price, Forsyth Barr broker Andrew Rooney said yesterday.

Rush of new property listings in Otago last month

Otago had a rush of new property listings in December, an increase of 22.1% compared with December last year, and the second-highest increase in the country behind Wellington.

Oil prices down almost 10% as glut continues

Oil prices have tumbled to fresh five and a-half-year lows as Saudi Arabia ruled out cutting production and commentary indicated no early end to the supply glut.

Interest pressures fall with oil

Interest pressures fall with oil

The prospects of further interest rate rises by the Reserve Bank become more distant by the day as oil prices plunge, along with prices of other resources.

Oil price slide could slow exploration in NZ

Oil price slide could slow exploration in NZ

Oil and gas exploration in New Zealand could slow as the price of oil continues to slide and some projects become uneconomic, Craigs Investment Partners Peter McIntyre said yesterday.

Dairy first piece of economic puzzle

Dairy first piece of economic puzzle

The first GlobalDairyTrade (GDT) auction at 2am tomorrow will be a big first piece of what will become the economic puzzle for the year.

Average pay increases nearly $5000

Average pay increases nearly $5000

Wage and salary earners will probably be surprised by data released yesterday which shows ''average'' Kiwi pay packets increased nearly $5000 last year.

Internet links to country lagging

Internet links to country lagging

Slow web page downloads can be one of the most frustrating experiences when using the internet and New Zealand rural internet users continue to find a mismatch in their speeds when compared with urban users.

In connections lie growth

In connections lie growth

Clutha Mayor Bryan Cadogan says he has walked in the shoes of most people. He has been unemployed, worked in a shearing gang, started a business and worked in real estate. But it is passion for getting young people into jobs that makes Mr Cadogan the Otago Daily Times business leader of the year. Business editor Dene Mackenzie reports.