Global oil prices have come off the boil with expectations the New Zealand pump price will head below $2 a litre.
Glass Earth Gold, whose prospects include a $3 million test drilling programme at present under way in Otago, has posted a loss for the year of $C6 million ($NZ8.06 million).
Australian-listed Origin Energy will spend more than $US50 million ($NZ68 million) on a "high risk" one-hole test drilling programme for oil and gas about 65km off the coast of Dunedin.
Oceana Gold's Macraes mine operation in East Otago is going through "tough times" in an attempt to rectify a fall in ore tonnage and gold production.
Listed Dunedin biotechnology company Botry-Zen has taken a share price hit as it continues to investigate production difficulties which prompted an assessment whether production targets can be met.
A group of Dunedin businessmen has decided not to appeal a resource consent decision recently granted to Bunnings $27 million South Dunedin project, but maintains the Dunedin City Council is running "rough shod' over its own district plan.
Amid the more than $4 billion carnage of New Zealand's ailing property finance sector, South Canterbury Finance (SCF) has signalled a record pre-tax profit of about $80 million for the year and revealed a war chest available for acquisitions in the recession ahead.
Gold prices continued to tumble yesterday falling to about $US810 ($NZ1162.5) as demand for the US dollar rose amid a further weakening in global oil prices.
Listed Dunedin biotechnology company Botry-Zen will hold its special meeting on Friday, where its proposed $1.8 million capital raising will be discussed.
Fletcher Building has booked a decreased after-tax profit of $467 million amid warnings about wide-ranging uncertainty in the year ahead.
New Zealand Farming Systems Uruguay is expected today to deliver its forecast after-tax profit of $1.5 million for the year, but that is before it pays an up to $16 million performance fee to shareholder and manager PGG Wrightson.
Record South American milk prices delivered New Zealand listed NZ Farming Systems Uruguay a better than forecast $US1.6 million ($NZ2.28 million) after tax profit, despite rising production costs, a wet winter and summer drought.
Oceana Gold, New Zealand's largest gold miner, rejects claims it is facing its most crucial period during the 18-year life of its mainstay Macraes site in East Otago. Otago Daily Times business reporter Simon Hartley talks to Oceana chief executive Steve Orr about its decimated market capitalisation and, more importantly, Oceana's quest for $US185 million ($NZ266 million) of development funds in an increasingly cashless sector.
Multi-faceted rural services company PGG-Wrightson - a key indicator for the rural economy - has posted an 80% improved after-tax profit, from $40.6 million to $73.2 million, for the year and upgraded its forecast for the present financial year.
Scott Technology stock and profit forecasts have been upgraded on the back of its successful acquisition of mining niche-market company Rocklabs in Auckland, which it purchased for between $8 million and $10 million in May.
Shipping giant Maersk has cut more than 100 ship calls from Port Chalmers - equating to 22% of the port's container volumes - in a decision which took Port Otago by surprise.
Tourism Holdings Ltd has reported a 7% increase in after-tax profit for the year to June - rising from $13.4 million last year to $14.3 million - but cautioned it is down almost 10% on forward rental bookings, and tougher times are ahead for the next 12 to 18 months.
Hanover Finance - with $554 million of investor funds frozen - has told investors it will finalise a restructuring plan by the end of the month covering repayment of funds over an agreed time period.