By Paul McBeth and Jonathan Underhill Sept. 17 (BusinessDesk) – Associate Finance Minister Paula Bennett says the government’s decision to reject the Overseas Investment Office’s recommendation on the sale of Lochinver Station to Shanghai Pengxin wasn’t political and ultimately she wasn’t convinced the deal provided enough benefit to New Zealand. The OIO had recommended to Bennett and Land Information Minister Louise Upston …

By Jonathan Underhill Sept. 17 (BusinessDesk) – The government has scuttled Shanghai Pengxin’s $88 million purchase of Lochinver Station, which it would have added to a portfolio including the Crafar farms, saying the transaction failed on the test of providing a substantial benefit to New Zealand. “After detailed and careful individual consideration, we are not satisfied there will be, or is likely …

By Paul McBeth Sept. 17 (BusinessDesk) – New Zealand’s economy accelerated by less than expected in the second quarter, with agriculture and mining recovering from a weak start to the year. The kiwi dollar dropped almost half a US cent. Gross domestic product grew 0.4 percent in the three months ended June 30, accelerating from a 0.2 percent pace in the March quarter …