90 seconds at 9 am with BNZ: New Chinese bid for Crafar; Whimp's windfall; Retailing profit warnings; Japan downgraded; Egyptian market shut

FYI, Fletcher Building expected to lift the cash component of its Crane offer, taking the full offer to about A$10 a share, to get an agreed deal - http://www.theaustralian.com.au/business/fletcher-building-lifts-its-of…

And the AFR says Crane managing director Greg Sedgwick, who was paid A$4.48 million last year, is in line for a payout equivalent to two times his annual remuneration if his employment is terminated.

China is planning to create the world's biggest mega city by merging nine cities to create a metropolis twice the size of Wales with a population of 42 million.

So no - wonder why the Chinese like to buy our land/ businesses.

http://www.telegraph.co.uk/news/worldnews/asia/china/8278315/China-to-create-largest-mega-city-in-the-world-with-42-million-people.html

As a general observation on the media's coverage of crafar farms, including but not limited to interest.co.nz, I would note that I find it annoying and kinda sad really that the articles are about the fact that a 'chinese' buyer wants to buy crafar, the story is about the chinese, rather than about the asset who has a new lead purchaser, who incidently is HQed in China.

So given Chinas habit of aquiring other countries assets/land, NZers have nothing to be concerned about?

The Aussie irony is that they'll re-start the coal mines, to pay for the floods.....

Talk about raining on your own parade.

When the Chinese  bought my old company Rover they sent over loads of container ships and stripped all the factories of its steel and sent it all back to China,  maybe here they will take all the dirt back to China and leave us with lakes!!!

FYI, Hubbard case gets weirder and weirder - http://www.stuff.co.nz/business/money/4593183/Hubbard-quiet-on-MRI-claim

Crystal ball time...it's 2035 and the Greenabour Party has taken power dressed in green and red after the National mob had ruled since 2008 ( frightening thought for Goofy Klinger and Cunny). Greenabour has won on a policy aimed at putting right the mistakes, after all it's the putting right that counts...the platform of promises points to a spanking new state owned nuclear power plant on the eastern side of Great Barrier...out of sight and out of mind....with guaranteed cheaper power for every Auck...much cheaper power.

Has anyone looked at the GST angle on farms, or commercial property in general?

If I am correct then every time a property attracting GST sells for less than the vendor purchased it for, then he will pay less GST back on the sale then originally received when purchased.

Is the impact of property sales on GST revenue significant?

 It's so good to see so much money wasted on producing over 600 pages of shite.

"In its report, the Financial Crisis Inquiry Commission blames a range of obvious culprits: Banks that made reckless bets. Credit rating agencies that endorsed risky mortgage bonds. Government regulators who overlooked danger signs until they threatened the global financial system.

It concludes that the crisis might have been prevented if banks had been more careful and regulators had asked tougher questions.

Those views have long since become mainstream in the more than two years since the crisis peaked. Yet among panel members, they sowed dissension. In the end, the commission's six Democratic appointees embraced its conclusions. The four named by Republicans did not; they offered their own reasons for the crisis - and three complained that the majority's conclusions were too broad."

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10702681