Gallagher Group, the privately held agricultural equipment firm, will exit its 12 percent stake in rival Tru-Test Corp as a condition of grabbing a value brand across the Tasman by buying Australian firm Country Electronics. The Australian Competition and Consumer Commission won’t oppose Gallagher’s acquisition of Country Electronics, which trades as Thunderbird, after accepting the Hamilton-based group’s offer to divest …

Smiths City, the Christchurch-based retailer, boosted first-half profit 13 percent even as its revenue dipped in the face of a competitive retail environment. Net profit rose to $1.9 million, or 3.61 cents per share, in the six months ended Oct. 31, from $1.6 million, or 3.2 cents, a year earlier, the retailer said in a statement. Revenue slipped 1.1 percent …

New Zealand’s inbound migration remained elevated in November as new migrants kept arriving and fewer locals drifted across the Tasman. The country gained a seasonally adjusted net 2,800 new migrants in November, down from the 10-year high of 3,000 in October, according to Statistics New Zealand. On an actual basis, there was an inflow of 3,700, up from 1,700 a …