90 at 9: Widow wins Blue Chip case; Recession over?; Fonterra's plan

Click here for this morning's video. Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with ASB, including news that a Napier widow has won a court case against a financial advice firm after she was advised to go into Blue Chip. She was awarded NZ$250,000, but the firm FPFS VPFS has no money or liability insurance. This may be a possible precedent for others, but it will be a struggle for many to recover money. We may find out if the recession is over on Wednesday. GDP figures for the June quarter on Wednesday are likely to show GDP fell 0.1%, although some see a rise. Meanwhile, Fonterra has announced its capital reform plan, which is essentially a rights issue for shareholders to buy an extra 20% of shares in Fonterra to raise up to NZ$900 million. It will effectively mean more debt for farmers and the industry overall, we reported here.