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Wheeler under pressure, Dunedin trust loses big Balkan lawsuit, Easiest way to launder money

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

Fri, 04 Mar 2016

In NBR Print today: Expectations of an interest rate cut next week are certainly overblown but Reserve Bank governor Graeme Wheeler is clearly under pressure. The governor has made it clear he does not want to cut the official cash rate unless he really has to – a stance which has attracted much criticism. But next week’s statement is going to see that stance change. The only question is how much by. Rob Hosking reports.

A Dunedin-registered trust has been ordered to pay legal costs of $US1 million after failing in its bid to sue the Republic of Macedonia in an international investment tribunal. Tim Hunter reveals the outcome of the case after Guardian Fiduciary Trust, directed by Dunedin lawyer Nicolaas Francken and Nikola Stanojevic of Serbia, claimed anti-money laundering action by Macedonia had unjustifiably disrupted its business.

The shipping industry is spotting foreboding clouds of change on the horizon but the minister responsible insists they’re nothing but a silver lining. Although he’s aware of sector concerns, Commerce Minister Paul Goldsmith says the government doesn’t intend to tweak the Commerce Amendment Bill to allay them. As a result, a small mutiny is in the offing. Nick Grant reports.

Real estate is proving the easiest way globally to launder money, writes Sally Lindsay. However, lawmakers are aware of this and further laws will be forthcoming.

A new method of fishing is expected to hook $44 million in economic benefits every year by 2025. But is it the “game changer” the industry says it will be? Jason Walls finds out.

Most listed retail companies are expected to perform well as the reporting season winds up. Kathmandu [NZX: KMD] in particular is expected to produce a sparklier performance than in recent times. But, reports Calida Smylie, the depreciation of the kiwi dollar against the US dollar will create headwinds as most of the retailers have favourable hedging rolling off.

New Zealand businessman and mining investor Geoff Loudon has a memorable day ahead. He has the honour of ringing the Nasdaq stock market opening bell tonight (New Zealand time). Duncan Bridgeman finds out what it's all about.

Telco network operator Chorus [NZX: CNU] is confident it will be able to double the number of its ultra-fast broadband (UFB) technicians by the middle of this year without looking overseas. But a competition expert says such a dramatic increase in the number of technicians will only create a labour bubble. Campbell Gibson reports.

Legendary investor Warren Buffett knows better than to engage in the arcane machinations of Wall Street in his annual communication with Berkshire Hathaway shareholders, writes Nevil Gibson in Margin Call.

In Hunters’ Corner, Tim Hunter discovers robots have arrived on the NZX [NZX]. High-frequency trading is here and not everyone is happy about it, he says.

Meanwhile, Shoeshine can't help but notice that Ebos [NZX: EBO] has $200 million burning a hole in its pocket at the moment.

Why blame John Key for everything? Rob Hosking asks in Order Paper. ‘Key Derangement Syndrome’ is really a case of Basil Fawlty’s Fire Extinguisher.

All parliamentarians are to blame for shoddy work on Unit Titles legislation, writes Michael Coote.

Meanwhile, the scorned and abandoned Auckland Council residential out-of-scope zoning changes that caused a homeowner revolt in the affluent eastern suburbs are unlikely to go up in a puff of smoke, reports Sally Lindsay.

In media news, Chelsea Armitage looks at television shopping and finds out whether the industry really is booming or not.

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

Tune into NBR Radio’s Sunday Business with Andrew Patterson, launching this Sunday morning, for analysis and feature-length interviews.

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Wheeler under pressure, Dunedin trust loses big Balkan lawsuit, Easiest way to launder money