State sector employees who have negotiated pay rises will get them this year but the outlook is bleak for those who haven't, Finance Minister Bill English indicated in Parliament today.
Treasury unemployment forecasts are at the high end, Prime Minister John Key says maintaining his optimistic approach to the economy.
The failed developer of Dunedin's former chief post office and recent bankrupt Dan McEwan has had three Queenstown apartments taken over by the ANZ-National bank in default of loans.
The Otago and Southland economies could be nearly $500 million poorer this year compared to last because of lower milk prices for dairy farmers.
Wide restructuring of New Zealand Post's mail services will begin next week, with the potential for redundancies from its 6000-strong postal services division, including administration and support staff.
Headlines announcing job losses and business closures are a constant reminder of how tough the economic situation is for businesses - but help is at hand.
Economic forecasting agency Berl has provided a glimmer of hope on what economists say is a gloomy unemployment outlook, but warns of the risk of negative sentiment from political and industry leaders.
Some dairy farmers have been slower to sign off-farm grazing contracts and are paying a lower price this season, which is having an effect on graziers and perpetuating the effects of the downturn in the economy, those in the industry say.
More retail banks today rushed to boost mortgage rates, continuing the squeeze on home buyers seeking longer-term loans.
For a third time in seven days, a Dunedin business has succumbed to the recession, with the shareholders of Honda Otago placing the business in the hands of liquidators on Tuesday, with the loss of nine jobs.
The grim picture of the New Zealand economy is going to get darker this week, Finance Minister Bill English said today.
As the recession deepens, volunteer group Supergrans is finding Dunedin families are returning to it for extra help.
The economic downturn struck West Otago with a vengeance yesterday as the region's biggest employer confirmed it will slash more than half its workforce of 110 staff in one of the biggest economic body blows to hit the area in recent times.
The flood of bonds into the New Zealand financial markets has created investor interest as bank deposit rates fall. Business Editor Dene Mackenzie finds that not everyone is enamoured with the offers.
The ACT Party's annual conference opened in Auckland tonight with a message from its founder Sir Roger Douglas - the Government's strategy for dealing with the recession isn't going to work.
Gore District mayor Tracy Hicks says workers who were made redundant from a Southland timber mill are in a good position to find other jobs if they have the right attitude.
The rapid deterioration in the global economy at the end of last year dashed the half year profit expectations of government coal miner Solid Energy.
Tourism Dunedin has issued another bleak warning about the impact of the global economic downturn, as new figures highlight the decline in international visitors to Dunedin.
New Zealand is bucking an international trend by focusing on the market to deal with the recession, an article in The Wall Street Journal Asia says.
Falls in property prices in the South over the past year were greatest in Dunedin and Invercargill, according to the latest figures from QV Valuations.