S&P wants meeting with Basis Capital, Plan B IPO oversubscribed, Rating withdrawal, Strategi selects FAB Forté

We wrap up all the big news over the past week in Friday's Weekly Wrap.

Whitsundays

KiwiSaver will increase our household savings, which have fallen to critically low levels.
Excerpt from Dr Michael Cullen's speech notes for address to EMA Northern CEO Breakfast

The Securities Commission has revealed that it suspended Bridgecorp's prospectus three days before the company went into receivership.

The Securities Commission has revealed that it suspended Bridgecorp's prospectus three days before the company went into receivership.

Bridgecorp Briefs: Former Australian test cricketer big Bridgecorp borrower, Petricevic and others given boot.

Australian mutual, eo, has established a New Zealand arm and already registered a KiwiSaver scheme.

An innovative project between the Westland District and an investment fund aims to see 1500 school kids and pre-schoolers signed up with KiwiSaver by the end of August.
Press Release

Auckland

Savings and Loans has launched a capital protected investment backed by Merrill Lynch.

Investment professionals may have remained perky over global economic prospects, but they are feeling downright gloomy about things at home.

Increasing home loan rates are not the only thing hurting borrowers at the moment. One brokers says joining KiwiSaver could make refinancing even harder.

Auckland