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Business

Breaking news business

Masters dispute to return to Fed Court

12:48pm Woolworths and US hardware chain Lowe's will return to Federal Court on September 15 over their dispute over liquidation of Masters.

Catapult bullish on growth despite loss

Prashant Mehra 4:29pm Sports technology firm Catapult has posted a net loss of $5.9 million due to acquisition and expansion-related costs.

Housing boom lifts Harvey Norman's profit

Petrina Berry 4:36pm Retailer Harvey Norman's annual year profit has grown by 30 per cent as it enjoyed a surge in homewares and furniture sales.

Cattle exporter misses prospectus targets

Trevor Chappell 4:34pm Live cattle exporter Wellard Group has made a $23 million annual loss, well below its prospectus forecast of a $9 million profit.

Stockland chairman to retire in October

9:08am Shopping centre owner Stockland's chairman Graham Bradley will retire after 11 years and will be replaced by former Woolworths CFO Tom Pockett.

Ethical investment has 'come of age'

11:54am Fund manager Australian Ethical's annual profit has jumped 53 per cent as greater cash inflows offset the impact of its cuts to fees.

Adelaide Brighton 1H net profit drops 6.7%

Lilly Vitorovich 8:44am Adelaide Brighton's interim net profit has fallen 6.7 per cent, with fewer property transactions booked compared to the same time the previous year.

Atlas Iron narrows its annual loss

Prashant Mehra 4:29pm Junior miner Atlas Iron has posted another loss on the back of writedowns and lower iron ore prices, but the loss is smaller than the previous year's.

International markets roundup

7:26am News from the world's major stock markets

Stocks to watch

4:26pm Stocks of interest on the Australian share market

Resources stocks weigh on market

Trevor Chappell 4:54pm The share market has closed lower as investors await US jobs data on Friday that will help determine the timing of a lift in US interest rates.

Stronger US dollar weighs on $A

Petrina Berry 5:16pm The Aussie dollar has fallen against its US counterpart, which has rallied on growing expectations of a September US rate rise.

Ozsale fined $500k for kids' sleepwear

Online retailer Ozsale has been fined $500,000 after it admitted to selling children's nightwear with incorrect fire hazard labels.

Woolies to exit Gage Roads stake

Petrina Berry WA brewery Gage Roads will launch a $10.1 million capital raising to help fund the buyout of Woolworths' 23.5 per cent stake in the company.

ASIC lays out robo-advice guidelines

ASIC has laid out what constitutes personal advice as part of its guidelines for the burgeoning automated financial advice sector.

Home Consortium unfazed by Masters dispute

Petrina Berry Home Consortium says it has a binding contract with Woolworths to buy the Masters properties and is not concerned by Lowe's legal dispute with Woolies.

Surging approvals could hit home prices

Marty Silk A shock jump in July building approvals could see much more housing supply flow onto the market and lead to an adjustment in prices down the track.

Health turnaround helps iSelect profit

Lisa Robinson Services comparison website iSelect has delivered a $12.9 million profit and brought its health insurance business back to growth after a half-year loss.

Slater & Gordon faces more headwinds

Lilly Vitorovich Slater and Gordon shares fall on concerns over the legal firm's ability to pay down debt following a $1.02 billion annual net loss.

BHP Samarco disaster years in the making

Prashant Mehra A report by geotechnical specialists says the deadly Samarco dam spill in Brazil was caused by design and drainage issues over several years.

Surfstitch in a trough on heavy loss

Falling earnings and writedowns have widened Surfstitch's full-year net loss by more than 200 per cent.

Ramsay rolls out community pharmacies

Trevor Chappell Private hospitals operator Ramsay Health Care wants to extend the range of care it provides patients by setting up community pharmacies.

International markets roundup

News from the world's major stock markets

Australian stocks close slightly higher

Lilly Vitorovich Gains in health care, resource and banking stocks helped the Australian share market finish slightly higher, despite falls in Woolworths and Telstra.

Stocks to watch

Stocks of interest on the Australian share market

Aussie edges up against $US

Trevor Chappell The Australian dollar is relatively steady against the US dollar as currency markets await crucial US jobs data on Friday.

Samarco BHP dam failed due to liquefaction

The devastating collapse of the Samarco mine in Brazil, which was owned partially by BHP Biliton, is due to liquefaction, says a new report.

HSBC exec pleads not guilty to US charges

A former top HSBC executive has pleaded not guilty over charges of forex and wire fraud.

Updater moving up in US market share

Lisa Robinson Home relocation company Updater increased its share of the US household moving market but posted a US$3.52 million loss in its first six months on the ASX.

Legal action over Woolworths' Masters exit

Petrina Berry US retailer Lowe's has begun court action claiming supermarket giant Woolworths acted "invalidly" in seeking to end the Masters hardware joint venture.

Melbourne auctions offset Sydney dip

Auction clearance rates remain strong in Sydney and Melbourne, but less than half of the Brisbane homes auctioned last week were sold.

Infigen swings to annual profit

Wind and solar firm Infigen made a full-year profit of $4.5 million and has $100 million cash set aside for growth following the sale of its US assets.

The home building boom may be over: HIA

The kingmaker of the Australian economy in recent years, housing construction looks set to slow, the Housing Industry Association says.

Packer reduces Crown stake below 50pct

Trevor Chappell Billionaire James Packer's Consolidated Press Holdings has cut its holding in casinos and hotels group Crown Resorts below the 50 per cent mark.

Livestock exporter Wellard in trading halt

Shares in livestock exporter Wellard have been placed in a trading halt ahead of its full-year results and possible asset writedowns.

Vicinity sells Tweed Mall for $81.25m

The sale of Tweed Mall to Elanor Investors Group means Vicinity Centres will have offloaded 11 shopping centres for a combined $1.3 billion since May.

Ridley full-year profit up 30%

Trevor Chappell Feedstock supplier Ridley Corporation is planning to modernise a number of its feedmills in key regions, after lifting its annual profit by 30 per cent.

Evolution raises $311m from rights offer

Gold miner Evolution Mining has raised $311 million from institutional shareholders through its 2-for-15 rights offer.

Embattled McAleese in administration

Prashant Mehra Struggling mining transport operator McAleese has appointed McGrath Nicol as administrator after failing to secure a lifeline.

Temple & Webster posts loss

Petrina Berry Online furniture and homewares business Temple & Webster has posted a pro-forma loss of $44 million, partly due to impairments linked to its acquisitions.

David Lenz named as new Hills CEO

David Lenz has been named as the new chief executive of Hills, the company behind the iconic Hills Hoist clothesline.

International markets roundup

News from the world's major stock markets

Aust stocks down on US rate hike chatter

Australian shares have slid lower on growing US rate hike chatter and a number of companies trading ex-dividend after reporting their earnings.

US rate hike prospects push $A lower

Trevor Chappell More speculation over a hike in US interest rates has driven down the Australian dollar.

Stocks to watch

Stocks of interest on the Australian share market

Clinton slams Trump's black voters quest

Emily Stephenson Presidential candidate Hillary Clinton has released an ad which questions Donald Trump's efforts to appeal to black voters.

Case for interest rate hike grows: Yellen

Jason Lange and Ann Saphir The case for raising US interest rates is growing on the back of improvements in the labour market and expectations of economic growth.

Select Harvests profit drops on nut prices

Trevor Chappell A fall in the price for almonds from record levels has dragged down Select Harvests' annual profit by 40 per cent.

Weak company results cloud recovery hopes

Prashant Mehra Australian companies have posted weaker earnings in FY16 but a subdued growth outlook and rising competition could undermine a recovery this year

Online bedding gives Adairs a bounce

Andrew Leeson Bedding and home furnishing brand Adairs' profits have jumped 18.9 per cent, beating forecasts.

Senate to rule on ALP documents: Fifield

Lilly Vitorovich A decision on whether ALP emails sought by police investigating leaked NBN information will be left to the Senate, the communications minister says.

Godfreys vows to lift after profit slump

Marty Silk Vacuum retailer Godfreys' profit has plunged 36 per cent, but it believes new stores and online sales will boost earnings this year.

Coca-Cola Amatil takes healthier approach

Petrina Berry Drinks giant Coca-Cola Amatil is increasing its offering of smaller soft drink cans for health conscious consumers.

NBN ups revenue target amid tech switch

Lilly Vitorovich Revenue expectations for the national broadband network have gone up while the forecast maximum cost has been by $2 billion to $54 billion.

Regulatory changes hit Cabcharge's profit

Marty Silk Cabcharge says its bottom line has been hit by the costs of regulatory changes, not losing market share to new players.

APN unveils loss as print exit looms

Chairman Peter Cosgrove says "we have moved a long way towards transforming APN into a radio and outdoor media company" as he unveiled a big half year loss.

Star rolls on with casino growth plans

Trevor Chappell The owner of The Star and the Gold Coast's Jupiters casinos has lifted profit while handling the disruption caused by refurbishments and construction.

Letters fall but Aust Post delivers profit

Megan Neil Snail mail continues its decline but Australia Post has returned to profitability thanks to changes to its letter service and growth in parcel delivery.

Mayne Pharma flags 'very positive' year

Pharmaceuticals maker Mayne Pharma has more than quadrupled annual profit and says the outlook for 2016/17 is 'very positive'.

Monash grows profits and IVF market share

Andrew Leeson Monash IVF's profits have grown to $28.8 million as it claims almost one quarter of all IVF treatments delivered in Australia.

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