Two foreign-owned forestry companies with southern interests have received approval from the Overseas Investment Office (OIO) to purchase new holdings in the North Island and Southland.
Glass Earth Gold is scheduled to begin a $200,000 test drilling programme of up to four holes at the historic Serpentine diggings north of Lake Onslow on Rough Ridge in about a fortnight.
Record gold prices and Oceana Gold's ability to sell directly on to the spot market saw its profit margin per ounce increase 100% to $US423
The strength of the New Zealand dollar is keeping motorists immune from $2-per-litre prices but Government policies and legislation next year could add additional costs of 20c per litre.
No relief is in sight for hard-hit mortgage holders, with the Reserve Bank holding its interest-driving official cash rate at the highest level in the developed world. The rate remains at 8.25%, and short-term inflation fears seem likely to keep it there for a while.
Meat company PPCS is neither confirming nor denying speculation that venison processing at the Burnside works in Dunedin may be closed and relocated to its Finegand site - with the potential loss of 100 jobs.
Twenty contracting jobs may go from Downer EDI Works after it recently lost a Dunedin City Council contract to rival business Fulton Hogan, but Downers is confident other positions will be found for the affected staff.
Dunedin-based GPS global tracking company TracPlus has beaten four New Zealand competitors to become a finalist to vie for a United Kingdom "business passport'' and opportunity to gain a year-long beach-head office in Wales.
Capital investment to increase production volumes has overcome increasingly pinched margins and competition to boost Taieri Print's sales by more than 25% and staffing almost 60% during the past year.
More fallout from the subprime mortgage debacle in the United States is expected to surface in New Zealand's economy as bank loans get more expensive - prompting consumers to scrutinise ownership of luxury assets.
The seven major Australian banks - which begin their financial reporting season tomorrow - have suffered a brokers' downgrade, forecasting an almost 10% decline in earnings because of the increasing cost of global borrowing.
The 90 remaining design and engineering jobs to be left at Fisher and Paykel's Mosgiel plant in a year's time are safe, Appliances' deputy chairman John Gilk's says.
Fisher And Paykel Appliances and the country's largest union are already at loggerheads over details of the redundancy deals covering 430 staff to be laid off during the next year from its Mosgiel plant.
Staff and unions at Fisher and Paykel Appliances' Mosgiel plant are angered by the loss of 430 jobs announced yesterday, but chief executive John Bongard defended the decision as necessary to save the company.
Fisher and Paykel Appliances' former Mosgiel site manager - who resigned in late 2006 rather than oversee the dismantling of the Mosgiel plant - believes the mass redundancies announced this week could have been avoided if the company had stuck to its high-end niche-market products.
Household budgets appear set to bare the brunt of the increasing inflation rate, which will likely prompt the Reserve Bank to hold its interest-driving 8.25% official cash rate at the highest level in the developed world.
Spooky investors worldwide - running scared from increasing bad news from global financial markets - have prompted an unprecedented rise in gold prices to more than $US1000 ($NZ1265) during recent weeks. Business Reporter Simon Hartley reviews the state of gold exploration around Otago and the effects of the jittery global markets.
Not surprisingly, the Government has declined the $1.75 billion bid for a 40% stake in Auckland International Airport (AIA) by the Canada Pension Plan Investment Board (CPP), which was offering $3.60 per share, on the grounds it was not to the benefit of New Zealand.
More negative economic data is out with confirmation of a national decrease in overall monthly manufacturing activity - the first decline in more than two years - in the BNZ-Business New Zealand's monthly manufacturing survey.
New Zealand investors should be concerned with a brokers' downgrade forecasting a loss of growth of the average company earnings per share (EPS) during the year ahead.