A look at some of the companies that made the news this week.
Fletcher Building and SkyCity legal dispute (NZICC)
Fletcher Building (ASX:FBU) has confirmed it will defend itself against a legal claim by SkyCity Entertainment relating to the long-delayed New Zealand International Convention Centre (NZICC). Although Fletcher has already paid capped liquidated damages, SkyCity is seeking additional compensation for delays and associated losses. Fletcher maintains it has not breached its design-and-build contract and has targeted a February 2026 opening after final remediation and commissioning by H2 2025. A further provision of NZ$12–15 million will be recorded, although Fletcher notes it expects to recover some or all of this amount through insurance or litigation.
IDP Education trading update (ASX:IEL)
IDP Education has slashed its FY25 guidance, forecasting a 28–30% drop in student placement volumes and an 18–20% decline in language testing due to escalating global policy restrictions on international student visas, particularly in Canada, the UK, and the US. These policy shifts have damaged enrolment pipelines and conversion rates, and adjusted FY25 EBIT is now expected between $115m and $125m. Despite short-term challenges, IDP is implementing cost reductions and pursuing longer-term efficiency and digital investment, maintaining confidence in its long-term industry leadership and structural growth drivers.
Soul Patts and Brickworks merger (ASX:SOL, ASX:BKW)
Washington H. Soul Pattinson and Brickworks have agreed to merge in a transformative $14bn all-share transaction, combining their long-held cross-shareholdings into a new parent company structure to simplify governance and enhance capital flexibility. The deal will see both entities become subsidiaries of a new ASX-listed holding company, with proportional ownership preserved and no change to existing business operations. The boards of both companies have unanimously recommended the transaction, which is subject to shareholder approval and expected to complete by December 2025.
