Investor risks increase, how Singapore overtook NZ, Winston's predicted destructiveness and TPP's crucial year

Political uncertainty and “distrust” of regulators has increased New Zealand’s investment risk premium.

In today’s National Business Review print edition, fund managers set out their expectations for the local equity market this year, in Russell Investments’ latest quarterly survey.

Meanwhile, New Zealand Initiative research fellow Bryce Wilkinson outlines his latest report, which highlights this country’s ambivalence to foreign direct investment – and how Singapore used this job-creating strategy to overtake New Zealand.

In Order Paper, political editor Rob Hosking makes his call on this year’s election and predicts Winston Peters will force an election in the next political term.

NZ US Council executive director Stephen Jacobi writes about the crucial year for the Trans Pacific Partnership agreement – and how even if a deal is done, the government would be wise to allow time for extensive consultation and a parliamentary vote.

Meanwhile, ANZ, ASB Bank and Westpac are being accused of lobbying government in efforts to reduce compensation over the alleged mis-selling of $8 billion interest rate swaps to farmers. Reporter Jamie Ball gets their response.

Business reporter David Williams takes us inside Shanghai Pengxin’s takeover of Synlait Farms, and how Chinese billionaire Jiang Zhaobai plans to expand his dairy empire.

Property editor Chris Hutching reports a water lobby group has given up trying to influence Environment Canterbury – which is now led by government-appointed commissioners – as the controversial trading of water consents is encouraged before restrictions kick in.

Supermarket companies continue to dominate advertising spending, the 2013 figures show, but media reporter Victoria Young reveals two big telcos were last year’s big movers.

In Media Watch, David Cohen covers Bauer Media Group’s buyup of several APN magazine titles, and what it will mean for staff, and what exchange rate shifts might mean for Fairfax’s sub-editing operation.

Technology editor Chris Keall picks up the story of Crown company Network For Learning, and complaints from internet service providers the government is lining Telecom’s pockets and making it very hard to compete.

In Heartland, agribusiness professor Jacqueline Rowarth runs through the food industry drivers for the year – and why a move from “local” to “authentic” marketing is to be encouraged.

Briefly:

  • Shoeshine traverses multi-network infrastructure company Vector’s fight with the Commerce Commission, and what rising interest rates might mean for its cost of capital.
  • In Tray scrutinises political press releases celebrating the singer Lorde’s grammy-winning success and wonders, who were they really patting on the back?
  • Chatham Rock Phosphate managing director Chris Castle replies to Deepwater Group’s George Clement, stating the company’s research says their proposed operations predicts its environmental impact will be miniscule compared to that of the fishing industry.

All this and more in today’s National Business Review. Out now.

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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7686 -0.0012 -0.16%
AUD 0.9467 -0.0002 -0.02%
EUR 0.6238 -0.0001 -0.02%
GBP 0.4941 0.0001 0.02%
HKD 5.9617 -0.0083 -0.14%
JPY 91.4000 -0.0550 -0.06%

Commods

Commodity Price Change Time
Gold Index 1189.4 -2.770 2014-12-17T00:
Oil Brent 61.2 -1.020 2014-12-17T00:
Oil Nymex 56.8 0.920 2014-12-17T00:
Silver Index 15.9 0.138 2014-12-17T00:

Indices

Symbol Open High Last %
NZX 50 5496.6 5522.8 5496.6 0.47%
NASDAQ 4556.9 4651.9 4547.8 2.12%
DAX 9455.7 9589.2 9563.9 -0.20%
DJI 17069.2 17389.3 17068.9 1.69%
FTSE 6331.8 6359.7 6331.8 0.07%
HKSE 22697.7 22726.6 22670.5 -0.37%
NI225 17143.0 17246.2 16819.7 2.22%