Aristocrat doubles its half year profit

Aristocrat doubles its half year profit

Poker machine developer Aristocrat Leisure has more than doubled its half year profit due to stronger market share and growth in online and mobile gaming. The company made a profit of $159 million in the six months to March 31, up from $78 million a year earlier, a result it had flagged to the market earlier in May. Profit in Aristocrat's Australian and New Zealand operations rose by $30 million…

  • Joyce comments not true: Indonesia AAP - 38 minutes ago
    Joyce comments not true: Indonesia

    Jakarta has rejected comments by Barnaby Joyce linking the halt on live cattle exports to Indonesia and asylum-seeker boat arrivals in Australia as "simply not true". Deputy Prime Minister Barnaby Joyce has started the day trying to downplay comments he made on Wednesday night, saying he meant that the controversial suspension of the live cattle trade to Indonesia in 2011 made it difficult to negotiate with them on the issue of asylum seekers. Ministry of foreign affairs spokesman Arrmanatha Nasir told AAP on Thursday that to "suggest there is any link is simply not true.

  • $A falls despite strength in shares, oil AAP - 39 minutes ago

    The Australian dollar's fall has resumed despite further gains on global share markets and and oil prices. At 1200 AEST on Thursday, the currency was trading at 71.83 US cents, down from 72.10 cents on ...

  • BUGDET 2016: Flavell gets $17.8 mln to get Maori land … BusinessDesk - 45 minutes ago

    Maori Development Minister Te Ururoa Flavell has secured $17.8 million to get a new Maori land service up and running, and provide more assistance for property owners as part of his efforts to overhaul legislation governing Maori land. Some $14.2 million will go to building a new Maori Land Service which will provide administrative services to Maori landowners and take over some functions from the Maori Land Court, Flavell said in a statement. A further $3.7 million will go Te Tumu Paeroa (the Maori Trustee) to help landowners improve their governance arrangements, a key goal of legislation aimed at getting better use out of collectively owned Maori land.

  • BUDGET 2016: NZDMO trims $8 bln from bond programm … BusinessDesk - 45 minutes ago

    The New Zealand Debt Management Office will cut $8 billion from its issuance programme through to 2020 as the government looks set to reduce debt. Finance Minister Bill English today unveiled his eight budget, and slashed $400 million a year from the 2017 budget new spending allowance to help repay debt.

  • BUDGET 2016: DHBs big winner in English’s spend up BusinessDesk - 46 minutes ago

    District Health Boards are the big winners in Finance Minister Bill English's eighth budget, with $1.6 billion coming their way over the next four years after a prolonged period of belt-tightening. The Reserve Bank has said it would welcome infrastructure spending by the government to generate economic activity and help spur tepid inflation.

  • BUDGET 2016: Industry’s ETS subsidy axed; $25 a tonne … BusinessDesk - 47 minutes ago

    Electricity producers, transport fuel providers and industries with high carbon emissions will lose access to the subsidy that requires them to offset only half their emissions, Climate Change Minister Paula Bennett announced in the Budget. Major emitters who don't face export competition are currently subject to a 'one-for-two' subsidy scheme over the next three years, with a benefit to the government in avoided costs of $356 million over the next four years, assuming carbon valued at $12 a tonne. Bennett also announced there will be no change to the upper limit for the price of New Zealand Units of carbon of $25 a tonne.

  • BUDGET 2016: Joyce flags extra $410.5 mln for science … BusinessDesk - 47 minutes ago

    Science and Innovation Minister Steven Joyce announced an extra $410.5 million to fund science projects over the next four years in today's budget. The new funding is expected to push up cross-government spending on science and innovation to $1.6 billion a year by 2019/20, and is part of Joyce's drive to grow business investment in research and development to more than 1 percent of the economy. The biggest beneficiary of the new funds is the Endeavour Fund with $113.8 million over the period.

  • BUDGET 2016: Households, migrants and tourists to keep … BusinessDesk - 48 minutes ago

    Population growth, tourism, construction and low interest rates will underpin a robust economic outlook for the next four years, but the Budget forecasts show little change in growth rates from those forecast in the Budget a year ago. Rather, the latest Budget forecasts show strong employment growth in low productivity industries such as house construction and the hospitality industry making up for another year of weak export commodity prices to maintain current growth rates. "Over the forecast period, the contribution from growth in real gross domestic product per capita of 1.3 percentage points per year, is below its 1995-2015 average of 1.8 percentage points per year," the Budget documents say.

  • BUDGET 2016: Population-driven GDP growth helps English … BusinessDesk - 48 minutes ago

    Finance Minister Bill English has unveiled a rosier set of fiscal projections as the fastest population growth in 40 years drives economic growth and tax revenue, giving him room to spend more on health, law and order, and education while forecasting fatter surpluses. Core Crown tax revenue over the forecast horizon is expected to be $3.6 billion more than was projected in December, and core expenses have been reduced by the same amount. The Treasury identifies population growth as the biggest contributor to GDP growth this year and next, while per-capita growth takes over in 2018 via a combination of labour productivity and utilisation.

  • Aust banks among world's 100 biggest firms AAP - 54 minutes ago
    Aust banks among world's 100 biggest firms

    Australia's big four banks have all been ranked among the largest 100 companies in the world. Commonwealth Bank leads a group of 35 Australian firms ranked among Forbes' annual Global 2000 list, which ...

  • Weak growth under wage agreements AAP - 1 hour 6 minutes ago

    Wage growth under bargaining agreements at best stood still during the first three months of the year. Overall, Department of Employment figures show that average annualised wage growth declined 0.3 percentage ...

  • Aust capex fell 5.2% in March quarter AAP - 1 hour 16 minutes ago

    Australian business investment fell by 5.2 per cent in the March quarter, which was worse than forecasts, official figures show. The closely-watched figures, released on Thursday by the Australian Bureau of Statistics, cover investment in capital goods which includes such things as buildings and equipment. Businesses collectively expect to invest $126.819 billion on capital goods by the end of the 2015/16 financial year, which is 15.3 per cent lower than the same estimate made for the previous year, the ABS said on Thursday.

  • Smartpay full-year profit slumps 86% after ending Australian … BusinessDesk - 1 hour 52 minutes ago

    Smartpay Holdings posted an 86 percent slump in annual profit after the payment terminal supplier lost a large Australian taxi contract just before the start of the financial year. Smartpay started the last financial year on the back foot, after ending its largest Australian wholesale taxi contract at the end of December 2014. It's aiming to make up the lost income after launching its own Australian TaxiPOS taxi payments business in February last year, and said today that the latest financial results didn't reflect its current trading.

  • Aust stocks start higher AAP - 1 hour 57 minutes ago

    The Australian share market has started higher for the second straight session, helped by positive cues from global markets and continued gains in oil prices. The benchmark S&P/ASX 200 was up 0.2 per cent in early trade, helped by gains in energy and resources stocks, and bolstered by firm banking stocks. "The US and European markets ended firmer and oil prices have been recovering, so we are seeing most of the gains in energy and mnining stocks," CommSec market analyst Steven Daghlian said.

  • Joyce rules out levy, milk regulation AAP - 2 hours 3 minutes ago
    Joyce rules out levy, milk regulation

    Agriculture Minister Barnaby Joyce appears to have ruled out a levy on milk or re-regulation of the industry. It was completely wrong that water was dearer than milk, Mr Joyce told the regional leaders debate in Goulburn on Wednesday night. Opposition agriculture spokesman Joel Fitzgibbon was more scathing in his assessment, saying there were questions about whether the directors of Murray Goulburn misled both the market and dairy farmers.

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Company Finances

  • Subway: Review finds 'serious' complaint about Jared Fogle Associated Press - Sun, Sep 13, 2015 1:30 AM NZST
    Subway: Review finds 'serious' complaint about Jared Fogle

    The Subway restaurant chain said it received a "serious" complaint about Jared Fogle when he was the company's spokesman but that the complaint did not imply any criminal sexual activity. The ...

  • Holden keeps 100 design jobs in Australia AAP - Sun, Sep 13, 2015 1:06 AM NZST
    Holden keeps 100 design jobs in Australia

    Holden will keep more than 100 design jobs and add 18 new positions after manufacturing ends in Australia in 2017. The powertrain engineering and development team will stay in Australia after General Motors reversed a decision to send the jobs overseas. "More than 100 additional Holden engineering staff will continue to apply their skills and talents to local and global vehicle programs," managing director Mark Bernhard said on Saturday.

  • Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles Associated Press - Fri, Sep 11, 2015 6:18 AM NZST
    Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles

    Fiat Chrysler is recalling more than 1.7 million trucks to fix problems with air bags and welds in the steering system. The biggest of three recalls announced Thursday covers 1.35 million Ram 1500, 2500 ...

  • McDonald's to switch to cage-free eggs over next decade Associated Press - Thu, Sep 10, 2015 9:12 AM NZST
    McDonald's to switch to cage-free eggs over next decade

    McDonald's says it will switch to cage-free eggs in the U.S. and Canada over the next decade, marking the latest push under CEO Steve Easterbrook to try and reinvent the Big Mac maker as a "modern, ...

  • Survey shows big gaps in knowledge about auto safety tech Associated Press - Wed, Sep 9, 2015 9:24 AM NZST
    Survey shows big gaps in knowledge about auto safety tech

    Adaptive cruise control has been an option on some cars for almost a decade. But in a recent national survey, 65 percent of U.S. drivers didn't know what it was. The survey, by the University of Iowa Public ...

  • Toyota invests $71m in driverless cars AAP - Sat, Sep 5, 2015 8:10 PM NZST
    Toyota invests $71m in driverless cars

    Toyota is investing $US50 million ($A71 million) with Stanford University and the Massachusetts Institute of Technology in the hope of gaining an edge in an accelerating race to phase out human drivers. The financial commitment announced on Friday by the Japanese carmaker will be made over the next five years at joint research centres located in Silicon Valley and another technology hub in Cambridge, Massachusetts. Toyota has hired robotics expert Gill Pratt to oversee research aimed at developing artificial intelligence and other innovations that will enable future car models to navigate the roads without people doing all the steering and stopping.

  • Harley riders rumble into Milwaukee for rally, bike show Associated Press - Sat, Sep 5, 2015 12:06 PM NZST
    Harley riders rumble into Milwaukee for rally, bike show

    Gearheads converged on the Harley-Davidson Museum on Friday to show off, talk shop and get started on a weekend motorcycle rally and custom bike show. Tents outside the museum featured T-shirts, trinkets ...

  • Toyota to invest $50M in car-tech research at Stanford, MIT Associated Press - Sat, Sep 5, 2015 7:36 AM NZST
    Toyota to invest $50M in car-tech research at Stanford, MIT

    Toyota is investing $50 million with Stanford University and the Massachusetts Institute of Technology in hopes of gaining an edge in an accelerating race to phase out human drivers. The financial commitment ...

  • From eggs to trees, USDA promotional programs controversial Associated Press - Sat, Sep 5, 2015 6:37 AM NZST
    From eggs to trees, USDA promotional programs controversial

    The slogans are familiar: "The Incredible Edible Egg," ''Pork: The Other White Meat," and "Got Milk?" They've all been part of promotional campaigns overseen by the Agriculture ...

  • Recalls this week: windshield deicer, bicycles Associated Press - Sat, Sep 5, 2015 5:00 AM NZST
    Recalls this week: windshield deicer, bicycles

    More than 4 million bottles of windshield deicer and frost reducer are being recalled because the trigger assembly can be removed by children, posing a risk of poisoning. Other recalled consumer products ...