Briefs

Hardy sale likely

Reports in the US said Constellation Brands could soon announce the sale of Constellation Wines Australia. The Australian business, which owns Hardy Wine Company, could fetch up to $US400 million.

CONSTRUCTION

Boral purchase

The building materials supplier Boral will acquire a North American stone veneer supplier, Owens Corning Masonry Products (Cultured Stone), for at least $US90 million. The acquisition will be in two phases, with the vendor, Owens Corning, to share losses until US housing construction returns to profitability.

MINING

Two men trapped

Two miners are trapped at Newcrest Mining's underground Kencana mine in Indonesia after the movement of "mudstone" blocked their access to the main workings. The goldminer said the men were not hurt but it could be several days before they are freed.

MEDIA

Optus Foxtel deal

Optus will start selling and advertising Foxtel services for the first time in 15 months after securing a more profitable deal from the subscription TV service. The multi-year deal also allows Optus to sell Foxtel services over satellite, expanding beyond its own cable network.

AVIATION

Virgin Blue link

Virgin Blue's alliance with Air New Zealand on trans-Tasman routes has been approved by the NZ Transport Minister. The decision lets the two carriers code-share on Australia-NZ services, co-ordinate schedules and pricing and offer reciprocal frequent flyer benefits.

ECONOMY

NZ growth doubts

New Zealand's economy is barely growing and may have shrunk in the third quarter, Moody's Analytics says in a report. Hopes of a recovery in the three months to September 30 had been dashed and the economy was expected to remain sluggish well into next year, the firm said.