Port Otago has delivered its first special dividend to owner the Otago Regional Council, boosting its overall dividend by $2.5 million for the year from $6.9 million to a record $9.5 million.
Gold surged a record $US94.40 ($NZ142.3) during overnight trading on the New York Mercantile Exchange - up from $US772.35 to $US866.75 - following the United States Government's $US85 billion bail out of ailing insurance giant American International Group (AIG).
Oceana Gold share prices retraced some losses yesterday after the East Otago miner's share price slumped to a low of A44c, further slashing its market capitalisation to $80 million.
Contact Energy briefly overtook Telecom as the country's largest listed company by market capitalisation as share prices seesawed on a combined $35.1 million of shares traded yesterday.
The plumbing isn't in yet but bookings are already being made for the reincarnation of the former Two Chefs restaurant in Dunedin.
Gold has passed the $US900 ($NZ1353) mark on the back of investors world-wide seeking a safe haven for cash.
Wall Street posted a positive turnaround on Thursday trading - following a week of bloodshed in confused sharemarkets around the world - with the possibility of a US Government-led bailout of debt-laden companies under threat of bankruptcy.
Short selling in the sharemarkets of the United States and United Kingdom is coming in for a grilling as regulators on both sides of the Atlantic line up to launch investigations, including a temporary ban on the strategy.
A second shipping line is to reduce its Port Chalmers service.
The New Zealand, Asian and Australian sharemarkets responded positively to the potential turnaround of events in the US markets during the past week.
Superannuation funds on both sides of the Tasman will have been undermined by the recent sharemarket turmoil which has wiped billions of dollars from share values around the world.
Most Asia-Pacific stockmarkets slipped about 1%-2% yesterday after Wall Street resumed Monday trading and unnerved investors continued selling in to the confused market, albeit it one with a $700 billion ($NZ1060 billion) lifeline on hand.
Reduced demand for automotive parts and increasing Asian competition has prompted six redundancies at 64-year-old Dunedin engineering company DC Ross, during the past week.
Amid increasing calls for the United States Government's $700 billion ($NZ1060 billion) rescue package for the finance sector to be urgently addressed, Asia-Pacific sharemarkets continued to take the lead from New York, trading positively but weakly yesterday.
Falling interest rates and pending tax cuts have seen an unprecedented recovery in consumer confidence for the quarter to September, with pessimistic respondents falling from 52% to 17%.
The ANZ bank has called for voluntary redundancies from its 2500 staff around the country in what the Finance and Information Workers Union (Finsec) is claiming may prompt a "significant reduction in staff numbers".
A cash squeeze could come to bear in the New Zealand banking sector when some of $120 billion of foreign investment in securities is not renewed during the next two to three years as it matures, further depressing the strength of the New Zealand dollar.
Dunedin printer Rogan McIndoe - now in the hands of liquidators - may owe up to $1.38 million to mainly local businesses with up to 90 unsecured creditors unlikely to get as much as 20c in the dollar back, in a best-case scenario.
A stellar period of gold production was reached in mid March when global demand pushed the price through the $US1000 barrier for the first time to $US1033, but the rot had already set in for many gold explorers and producers whose share prices were plummeting.