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The proposed sale of Lochinver Station near Taupo to a Chinese investor was part of a contentious debate over foreign investment at the last election a year ago today, and it’s taken until this week for the Government to make its final call on the deal. It’s been vetoed, the first big deal to be blocked since 2008. TVNZ’S Corin …

The Nation edited transcript: Lisa Owen interviews Steven Joyce Lisa Owen: So while National’s well ahead in the polls, it’s not been a year without its challenges. National’s campaign chief and, of course, Economic Development Minister Steven Joyce joins me now. Good morning. Steven Joyce: Every year has its challenges, Lisa. All right. Well, briefly, to start off with, what do …

Mark Lacy and Jason Maywald, directors of OPI Pacific Finance, have been sentenced to 200 hours of community work and A$100,000 in reparations after pleading guilty to two Securities Act charges laid by the Financial Markets Authority. Last month, Lacy and Maywald pleaded guilty to charges relating to a registered prospectus and an advertisement distributed in 2007, which the FMA said …

By Jonathan Underhill Sept. 18 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, said it has gained resource consent approval for the convention centre. The company gets some $458 million of gaming concessions as a result of agreeing to build the convention centre in a deal with the government. In May, SkyCity lifted the minimum it will invest in the development to $430 million …

By Paul McBeth Sept. 18 (BusinessDesk) – Lines companies Buller Electricity and Pioneer Generation plan to mount a takeover of electricity retailer Pulse Energy, though haven’t settled on an offer price yet. Pulse Energy was told by its 56 percent shareholder Buller Electricity that the West Coast-based lines company will team up with Otago-based Pioneer to buy the remaining Pulse …

By Suze Metherell Sept. 17 (BusinessDesk) – Creditors of New Zealand’s failed state-owned coal miner Solid Energy have voted in favour of an orderly sell down over the next 2 1/2 years, rejecting a last minute foreign bidder’s request to delay the watershed meeting ahead of a possible buyout. Korda Mentha administrator Brendon Gibson said a move by Australian company Mach …

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 …

By Pattrick Smellie Sept. 17 (BusinessDesk) – A New South Wales-based mining investor, Mach Energy, is expected to make an alternative bid for distressed state-owned coal miner Solid Energy at today’s ‘watershed’ meeting of creditors in Christchurch this morning. BusinessDesk reliably understands Mach will seek a 30 day delay to the vote scheduled at today’s meeting of Solid Energy creditors, …