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Business

Breaking news business

Pokie developer Ainsworth's profit slides

Trevor Chappell 5:38pm A tough market in Australia has weighed on profits at poker machine supplier Ainsworth Game Technology.

BHP says protectionism threatens growth

Prashant Mehra 7:30pm BHP Billiton has signalled worries about rising protectionism after bouncing back to a $US3.2 billion half year profit.

Telstra hit by another network outage

Lilly Vitorovich 6:20pm Another network outage has left some of Telstra's corporate customers in NSW without voice or data services for a few hours.

Seven West pulls Seven Group into the red

3:20pm Kerry Stokes' Seven Group has slipped to a half year loss due to a big writedown on the value of its stake in Seven West Media.

Monadelphous looking at new markets

Prashant Mehra 2:51pm Engineering services firm Monadelphous is looking to diversify into infrastructure and renewables due to a downturn in the mining sector.

Construction to add to economic growth

11:59am The Reserve Bank has outlined why it expects a rise in non-mining business investment will add to growth by the end of 2018.

Caltex to plug hole left by Woolies: Segal

Petrina Berry 2:51pm Caltex Australia boss Julian Segal says he is confident the company will plug the earnings hole expected from the end of its fuel alliance with Woolworths.

Oil Search to bolster spending in PNG

Lilly Vitorovich 2:41pm Oil Search has swung to a net profit of $US89.8 million in 2016, with the group forecasting a sharp jump in spending.

Greencross looking at more stores, clinics

Trevor Chappell 5:19pm Veterinary services and petcare retailer Greencross has upgraded its plans to open more stores and clinics after its half year net profit rose 17 per cent.

Aconex posts HY loss of $3.5m

10:00am Aconex's acquisition expenses and lower values for intangible assets push the software provider into a hlfl-year loss of $3.5 million.

Wesfarmers' Goyder joins Woodside as chair

9:51am Woodside says Richard Goyder will join its board on August 1 and replace chairman Michael Chaney when he steps down at the 2018 annual general meeting.

Asia, Brazil weakness crimps SEEK earnings

Melissa Jenkins 5:58pm Online jobs portal SEEK has grown earnings in Australia but its overseas operations have suffered from economic weakness in their local markets.

Confidence falls on weak jobs market

Marty Silk 10:14am Weak full-time employment, uncertainty about the economic outlook and public debate about housing affordability is weighing on consumer confidence, ANZ says.

Fairfax in halt amid Domain IPO rumours

Stuart Condie 12:19pm Fairfax shares have gone into a trading halt amid rumours it is considering spinning off lucrative real estate business Domain Group via a partial IPO.

Virtus profit hit as Aust IVF demand falls

Simone Ziaziaris 3:41pm Virtus Health's first-half profit has dropped as demand for assisted reproductive services falls across Australia.

Scentre keeps close eye on retail tenants

Lilly Vitorovich 12:20pm Scentre Group, the owner of Westfield shopping centres in Australia and New Zealand, has reported a 10 per cent jump in annual profit.

Stocks to watch

5:19pm Stocks of interest on the Australian share market

International markets roundup

7:31am News from the world's major stock markets

CBA could owe 'millions' in super-union

8:41am The Commonwealth Bank of Australia has been accused by a union of not paying its part time workers superannuation payments for extra hours worked.

Shares fall despite miners' strength

Petrina Berry 5:19pm The share market has dropped slightly amid a flurry of corporate earnings reports.

AVJennings upbeat after lower HY profit

Trevor Chappell AVJennings's first-half profit has fallen 14 per cent but the company expects a strong second half.

Bubs strikes Chemist Warehouse deal

The Chemist Warehouse is the latest major retailer to begin stocking goats milk infant formula maker Bubs Australia's organic baby food.

Auction uptick as supply remains muted

Home prices have risen more than 11 per cent across Australia's capital cities in the past year, with Sydney and Melbourne leading the way.

GWA profit rises but sees slowdown coming

Stuart Condie Fitting supplier GWA Group's first-half profit rose 9.4 per cent to $26 million after a 2.7 per cent increase in key sales revenue from bathrooms and kitchens.

WorleyParsons loss causes shares to plunge

Trevor Chappell Shares in WorleyParsons have plummeted after the engineering and project management firm reported a first-half loss of $2.4 million.

iSelect back in the black for the half

Petrina Berry Product comparison business iSelect has posted a $2.6 million net profit for the first half, in a turnaround from its $4.2 million half-year loss a year ago.

Childcare group G8 eyes China expansion

Lilly Vitorovich G8 Education is considering moving into China after agreeing to sell a 12.5 per cent stake to a Hong-based investment firm for $212.8 million.

Beach swings to profit after record sales

Prashant Mehra Beach Energy has turned around from a $600m half-year loss a year ago to post a $103m half-year profit.

CPI no guide to health cost hikes: NIB

Trevor Chappell Health insurer nib, which has lifted first-half net profit by 65 per cent, expects premiums will go up four to five per cent a year in future.

oOh!Media eyes growth after FY profit rise

Stuart Condie Outdoor and digital advertising group oOh!Media has lifted full-year net profit 17.4 per cent to $21.6 million and is targeting further growth.

Writedowns, US pressure Brambles result

Peter Trute Logistics group Brambles has posted a 50 per cent slump in half-year profit, but underlying profit and sales are up.

Northern Star HY profit up 61% to $104.6m

Gold miner Northern Star has lifted first-half profit 61 per cent to $104.6 million, helped by a 12 per cent increase in the average gold price in the period.

Steel boss warns on 'energy catastrophe'

Prashant Mehra BlueScope Steel's half-year profit has jumped almost 80 per cent, helped by higher prices and cost cuts but the CEO has warned energy costs are too high.

Stocks to watch

Stocks of interest on the Australian share market

International markets roundup

News from the world's major stock markets

Aust shares hit by Brambles, WorleyParsons

Lilly Vitorovich Poor earnings results from Brambles and WorleyParsons dragged the Australian share market lower on Monday, with more pressure from Wesfarmers going ex-dividend.

Bank inquiry bringing results: Turnbull

Colin Brinsden and Georgie Moore Prime Minister Malcolm Turnbull says the ANZ's decision to lower its credit card rates follows last year's parliamentary inquiry into the big four banks.

APRA sees financial risk in climate change

Stuart Condie An APRA board member told an insurance forum that his organisation is considering widespread testing of financial systems for stress due to climate change.

Virgin Aust to start flying to Hong Kong

Lilly Vitorovich Virgin Australia is hoping to grab a share of the burgeoning Chinese travel market by starting flights to Hong Kong from mid-2017.

US court suspends travel ban proceedings

A US appeals court has suspended proceedings over President Donald Trump's travel ban for individuals from seven predominantly Muslim-majority countries.

Link grows first-half earnings

Shares in financial data firm Link Group have risen after it posted a small lift in revenue and profit for the first half of 2016/17.

Village Roadshow shares dive as debt rises

Stuart Condie Debt is piling up after earnings fell 1.8 per cent at Village Roadshow's Gold Coast theme parks in the wake of the fatal disaster at rival park Dreamworld.

Trump's pick for security adviser says no

WASHINGTON President Donald Trump's second choice for national security adviser, retired Vice Admiral Robert Harward, has said 'no'.

PMP-IPMG merger cleared to proceed

Peter Trute PMP and IPMG are clear to proceed with their merger despite the regulator saying it will likely lessen competition in the printing industry.

NBN overhauls pricing structure

Lilly Vitorovich NBN, the company building the national broadband network, is overhauling its pricing structure to make it more attractive to broadband firms.

Santos may revive dividend as loss narrows

Prashant Mehra and Marty Silk Santos has posted a $US1.05 billion loss after a writedown at its Gladstone liquefied natural gas plant but says the business is turning around.

Whitehaven to boost debt reduction

Prashant Mehra Coal miner Whitehaven is targeting faster debt repayments after first-half profit jumped to $157.5 million on the back of higher volumes and a surge in prices.

Virgin hurting from soft market conditions

Lilly Vitorovich Virgin Australia, hurt by soft passenger demand and restructuring costs, books a net loss of $36.1 million for the six months to December 31.

US election helps ASX trump revenue drop

Marty Silk Market operator ASX's first-half profit was underpinned by the higher volatility following the US election, with revenue from listings falling.

DUET's HY profit down 26.6% at $65.6m

DUET Group has slightly raised its dividend after it's first-half profit fell 26.6 per cent, despite revenue rising 5.3 per cent over the same period.

Medibank still losing customers

Trevor Chappell Medibank Private has lifted its group net profit but the health insurer made less money and is still losing customers.

ANZ optimistic as Q1 profit rises 31%

Stuart Condie ANZ has lifted first-quarter cash profit 31 per cent to $2 billion and says full-year provisions are on track to be lower than previously expected.

Samsung chief in jail, mentor in charge

Choi Gee-sung, the No.2 lieutenant at Samsung Group is expected to assume the reins after Jay Y Lee was arrested over a corruption scandal.

Stocks to watch

Stocks of interest on the Australian share market

International markets roundup

News from the world's major stock markets

Health care, mining dip hits Aust stocks

Lilly Vitorovich The Australian share market has closed lower, weighed down by health care, resource and energy companies, including Medibank and Rio Tinto.

Flat wages hurt spending, DJs owner says

Petrina Berry David Jones' parent company Woolworths Holdings says the department store chain's sales rose four per cent in the half year.

Rogue One lacks force, leading Event lower

Petrina Berry Event Cinemas parent company says its earnings was hurt by the latest Star Wars film Rogue One which was not as successful as The Force Awakens.

Tenures as important as home prices: RBA

The Reserve Bank says the public discussion about housing inequality shouldn't just focus on home prices, as tenure security for renters is equally important.

Ten warns of an earnings loss

Peter Trute Broadcaster Ten is facing a full-year earnings loss of up to $30 million as it calls for relief from licence fees and industry regulatory reform.

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