In business news .

Bonuses for thousands of Warehouse workers, despite the company's challenging year with profits down.

The Warehouse Group has just released its annual result.

The company, which owns The Warehouse, Noel Leeming, Torpedo7, and Warehouse Stationary, made a net after tax profit of 59 million dollars in the year to June.

That's down more than 13 percent on last year.

However, the figure is ten percent higher than the net profit after tax guidance issued in March.

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The days of traditional accountants are numbered.

New research by Westpac says new technologies are likely to automate much of what accountants currently do.

Economist Paul Clark says integration between fully automated accounting systems run by firms, and those operated by the authorities, could create a situation where there's no need for auditing services.

He believes everything will be done automatically and this will eventually force accounting services firms to deliver more advisory services.



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To the markets, where the NZX50 sits at 9358

The New Zealand dollar is trading at 91.74 Australian cents, 66.90 US, 50.40 pence, 75.24 yen and 56.79 Euro

Im Jody Gill