Meridian talks down investment risks, chance of more RBNZ intervention, Fonterra’s $100m tax swing and Media3’s demise
"The one saving grace of the Tiwai bailout was that aluminium prices could easily turn around and make the plant a goldmine again"Featured comment
Meridian Energy’s chief executive is playing down key investment risks ahead of the state-owned power company’s partial privatisation.
As reported in today’s National Business Review print edition, Mark Binns says many people assume a recent government deal to extend the Tiwai Point aluminium smelter’s life to at least 2017 was delaying the inevitable.
Mr Binns says why he doesn’t think the potential closure is a slam dunk and why he thinks the Greens/Labour electricity policy will be difficult to implement and deliver.
Business editor Duncan Bridgeman outlines how Meridian has been mindful of the dry horrors when setting its future profit forecasts.
Shoeshine, meanwhile, talks about the government’s near obsession with round numbers and what that means for the upcoming Meridian IPO – and investors.
Economics editor Rob Hosking outlines how a high-running New Zealand exchange rate could trigger another currency intervention by the Reserve Bank by the end of the year.
Columnist Michael Coote traverses the Reserve Bank’s use of macroprudential tools – why we shouldn’t be surprised they’re being used and the politics of mortgage credit rationing.
Business reporter David Williams outlines how a $100 million tax swing helped Fonterra’s profit – and how foreign currency hedges boosted farmers’ incomes by more than $750 million.
NBR Property reveals which Christchurch investor spent $63 million buying the GHD commercial office building, in Freemans Bay, from developer Mansons.
In the NBR In Depth section, Jason Krupp picks apart the latest Productivity Commission’s latest report, and wonders at the width of its focus.
Meanwhile, Order Paper runs the rule over economic policy and the crucial political match-ups ahead of the next general election.
In Media Watch, David Cohen picks over the entrails of canned TV3 show Media3 to find what went wrong.
In a five-page special report, NBR examines the latest trends in executive development and education and answers the crucial question: what is a MOOC?
All this and more in today’s National Business Review print edition. Out now.