2 mins to read

Auckland Council’s latest $200k overseas junket, ASIC eyes Bryers, how China’s crazy stock market could demo Auckland house prices

What's in your National Business Review print edition this week.

Fri, 12 Jun 2015

In NBR Print todayAuckland council is spending nearly $100,000 on a trade mission to Los Angeles to generate business for the city and its myriad companies and activities and up to $130,000 pursuing a prize few people have ever heard of and which appears to have no lasting benefits. Nick Grant and Sally Lindsay report

The Australian Securities and Investment Commission is “considering” allegations former Blue Chip boss Mark Bryers has been illegally managing a group of Australian companies “with many hallmarks” of the failed property investment group. And as Hamish McNicol reveals, the Sydney-based accounting companies that ASIC is looking into also have ties to a former Byron Bay real estate agent who fled Australia owing $30 million.

New measures hitting non-resident buyers promise to burn off foreign investment in Auckland housing, writes Michael Coote. In any event, China’s crazy stock market may do a demolition job on Auckland property prices beyond our control.

New IMF research reveals extra efforts to pay off public debt could be doing more harm than good to the New Zealand economy. The report says New Zealand does not have to worry about debt and can increase its levels to 228.1% of GDP, before running into problems. Jason Walls reports

Four or five parties are conducting due diligence on meat processor Silver Fern Farms as its capital structure review heads toward a conclusion expected by the end of July, reports Tim Hunter.

US hedge fund Oaktree Capital has little chance of selling local broadcaster MediaWorks in the near future after moving to 100% ownership, sources tell Nick Grant. But the move could be positive for MediaWorks in that it gives management and the board some breathing space.

Lance Wiggs’ Punakaiki Fund opens a public equity crowdfunding campaign today to run alongside offers to existing shareholders and private investors. In an unusual step, reports Calida Smylie, the equity crowdfund investors will be given full voting rights, with the campaign oiling up the fund for a launch on to the stock markets.

New Zealand businesses are beginning to show signs that cyber-security is being taken seiously with the creation of public private partnerships. Nathan Smith reports.

In politics, Matthew Hooton says Labour’s hierarchy rejects progress while Rob Hosking reckons the party is eerily like the Liberals of 90 years ago: encircled and in a terminal decline.

Heartland columnist Jacqueline Rowarth continues her excellent series on R&D being on the backburner especially in the primary sector

Shoeshine expresses concern over Fonterra’s balance sheet while Jenny Ruth looks at BNZ’s startling loan book

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

© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Auckland Council’s latest $200k overseas junket, ASIC eyes Bryers, how China’s crazy stock market could demo Auckland house prices