NZ trust firm in money laundering probe, twists in NZX court case, why kiwi tech firms favour Aussie

In NBR Print today, The role of a New Zealand trust company in suspected money laundering is being investigated by police. In a special NBR investigation, Tim Hunter reveals the transactions link bank accounts and entities in the US, Singapore, New Zealand and the Isle of Man. Documents obtained by NBR reveal details of payments from a US company to the New Zealand trust and onwards to a personal bank account in the UK offshore tax haven.

Finance Minister Bill English faces a tall order when he delivers his eighth budget next week. He will have to prepare for future tax cuts, repayments to the NZ Superannuation Fund and reduction in government debt as well as spending more than expected.  Rob Hosking previews Thursday’s budget release.

Five years, tens of millions of dollars and a nine-week court battle which has now been extended to 11 weeks. The NZX has already dropped part of its case against Ralec, the parties who sold it the Australian Clear Grain Exchange in 2009. But the case does suggest former NZX chief executive Mark Weldon may have been blinded by his own vision of creating an agri Bloomberg. Jenny Ruth reports.

After an active couple of years, tech IPOs have dried up – at least on this side of the Tasman. NBR has had its eye on three listing candidates:  Volpara, a maker of breast screen imaging software; 9 Spokes, which helps small companies extract useful business information from data; and Wherescape, whose software crunches big data. Chris Keall reports.

Twenty companies are releasing results to the market this May and, while it is the smallest of the quarterly reporting seasons, it is no less important. “Most economists and analysts are trying to figure out how the underlying economies are doing,” Macquarie portfolio strategy head James Grigor tells Calida Smylie.

As Auckland Council awaits the recommendations from its Port Future Study, mayoral aspirants have been circling, with most saying the port needs to move, perhaps to Manukau. However, Transport Minister Simon Bridges says it will be a “possibly impossible” task to move the port because of the cost and environmental and cultural blocks that will be put in the way. Sally Lindsay reports.

All this and more in today's NBR Print Edition. Out now.

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