<i>John Armstrong:</i> Key walks a tightrope over ailing finance firm
John Armstrong writes that John Key must reassure investors that their cash is safe, while minimising the taxpayers' burden.
John Armstrong writes that John Key must reassure investors that their cash is safe, while minimising the taxpayers' burden.
Finance Minister Bill English has postponed his departure overseas to deal with stricken South Canterbury Finance.
Finance Minister Bill English has postponed his departure overseas to deal with issues that could follow tomorrow's announcement on the future of South Canterbury Finance.
South Canterbury Finance has told the NZX "there can be no certainty" its recapitalisation and restructuring proposals will be successful.
Taxpayers are facing a bill for $1.55bn unless South Canterbury Finance can be pulled from the brink of failure before tomorrow night.
South Canterbury Finance needs a new backer or a government bail out to avoid receivership.
Supporters of businessman Alan Hubbard have written to John Key urging him to reconsider the Government's approach to inquiries into Mr Hubbard's affairs.
South Canterbury Finance is likely to remain in a trading halt into next week as it awaits fresh capital.
The value of some investments were overstated by at least 25 per cent.
The man overseeing the creation of a new integrated financial markets regulator hopes, it will help shift savings tied up in housing somewhere else.
The man behind the $27m purchase of a Queenstown property development from Allied Farmers is declining to say how the deal is being financed amid speculation Allied may be helping him.