The Kiwi, the mafia lawyer and the German share scam, Reserve Bank says it’s risk, not houses, Brown under the hammer over transport plan
What's in your National Business Review print edition this week.
A former mafia lawyer in Florida has emerged as an adviser to a New Zealand businessman who listed his company in Frankfurt, Tim Hunter reports. His investigation into suspected market manipulation of the company’s shares discovered Irwin Schneider of Boca Raton was hired by Aucklander Manas Kumar to help list a Canadian company called Optimizer International Group on the Frankfurt stock exchange. Mr Kumar says he was unaware at the time that Mr Schneider had convictions for securities fraud and was a former legal adviser to the mafia and ended their relationship when he learned of his background..
A global “trigger” involving anything from US interest rate rises to a Greek government default could upset New Zealand’s over-indebted economy, Rob Hosking writes. But the Reserve Bank does not expect a “correction” any time soon: migration and a growing economy will keep the market buoyant, deputy governor Grant Spencer says.
In other news, Sally Lindsay says Auckland mayor Len Brown is expected to be asked next week to start work on a joint government and council revised transport plan. Prime Minister John Key and Transport Minister Simon Bridges have rubbished the just-finished Auckland transport plan and say the council needs to get realistic about providing public transport and roading.
On the Money columnist Michael Coote argues that conveyancing solicitors and real estate agents can provide the answers to whether Auckland has a supposed property bubble caused by overseas buyers.
Shoeshine wades into the debate over what value to attribute to fast-growing technology companies that probably won’t be profitable for years to come.
Calida Smylie finds Christchurch hydro turbine designer Hydroworks is forming ambitious growth plans, gearing up to launch on to the stock market after clinching a strategic acquisition.
All this and more in today’s National Business Review. Out now.
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The Kiwi, the mafia lawyer and the German share scam, Reserve Bank says it’s risk, not houses, Brown under the hammer over transport plan
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