Steel & Tube Holdings, New Zealand’s biggest steel distribution company, has continued its drive to grow through acquisitions, buying Aquaduct NZ out of receivership for about $8 million cash. Aquaduct was put into receivership in April after defaulting on its debt facilities with Westpac New Zealand, which was owed $4.97 million, according to a report by BDO’s Stephen Tubbs. Steel & …

The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth. The kiwi touched 62.44 US cents overnight, its lowest level since July 2009, amid low liquidity, and was trading at 64.90 cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index fell to 69.98 from 71.04 …

Wynyard Group, the intelligence software developer, widened its first-half loss while boosting sales 39 percent and anticipates faster revenue growth from the second half as it rolls out a new product. The Auckland-based company posted a net loss of $17.6 million, or 14 cents per share, in the six months ended June 30, from $10.2 million, or 9 cents, a year …