Mackenzie reviews the latest thrillers.
Allied Farmers faces a
difficult future after revealing yesterday another
substantial write-down in the value of the assets it bought
in December from Hanover Finance and United Finance.
Aorangi investors who have their investments with the Allan
Hubbard-linked company are unlikely to receive any government
compensation for lost income or hardship, Dunedin lawyer
Sally Peart says.
Nearly $40,000 had been raised from the public to help
Aorangi investors most in need, a spokesman for the Hubbard
Support Fund Trust, John Funnell, said yesterday.
Nervous investors around the world contributed to falling
sharemarkets in almost every country, but the fall in the
NZX-50 was limited by low volumes as investors kept their
hands in their pockets.
Southern National MPs should brace for some hard questions
if, as expected, the Serious Fraud Office fails in its quest
to prove South Canterbury businessman Allan Hubbard committed
Public sector decision-making concerned with infrastructure
investment will now have to consider public private
partnerships, a move which is likely to find widespread
Sharemarkets could be in for a rocky few days after the
United States Federal Reserve stepped in yesterday to try and
drive down debt and boost economic growth.
Households are likely to remain cautious with their spending
after recent labour market data showed subdued wage growth as
unemployment soared to 6.8%.
Mortgage lending rates are on the move again, but not in the
way earlier predicted.
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