Investigation into a former Rich Lister's finance company, how peer-to-peer lending is goading the big banks, and Tourism Holdings' revival

In NBR Print today: An investigation into former NBR Rich Lister Doug Somers-Edgar’s Club Finance finds it is still pursuing borrowers for millions, years after it defaulted on its own debts to investors in the First Step funds. Tim Hunter delves deeper into the debt.

Tourism Holdings has a history of getting clobbered by tourism-killing developments, but it might just be turning itself into a more consistent performer. Jenny Ruth looks at its turnaround under chairman Rob Campbell and chief executive Grant Webster.

El Nino is upon us and NZIER economists have already weighed in with a “don’t scare the cows” report, saying this summer “will be a scorcher.” Nevil Gibson’s Margin Call looks at how El Nino’s ill wind benefits some – especially since farming has radically changed since the El Nino of two decades ago.

Peer-to-peer lending is heating up in New Zealand and banks are keeping a keen eye on the sector. Bankers admit although p2p lending is still fairly new, there is no doubt it presents a challenge to traditional lending models. Calida Smylie reports.

Economists are picking today’s CPI figures to reveal more inflation stubbornness. But many are scratching their heads over why New Zealand’s inflation has been so subdued. Jason Walls finds out why.

Shoeshine proposes a new solution to Fonterra’s board woes – rather than cutting the number of directors overall, it would make more sense to alter the split between independent directors and supplier directors.

Meanwhile, in Hunter’s Corner, a very rural drama plays out with Silver Fern Farms. The company’s shareholders vote today on a joint venture with Chinese company Shanghai Maling, which will determine the future of farmer-owned co-operative.

Inland Revenue rather than the Reserve Bank has proven a far more effective weapon against housing inflation, as new tax rules applying to property transactions from October 1 are clearly starting to bite, writes Michael Coote in his On the Money column.

Also inside this issue is the special Showroom report on the hot trends in the automobile world, by motoring editor Cameron Officer.

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