Hills issues profit warning

Technology group Hills has warned that its full year profit could be up to 40 per cent lower than expected due to weakness across a number of sectors. Hills now expects to post an underlying full year profit of between $11 million and $14 million, well below the $18.5 million to $19.5 million range it flagged in February.

  • M2 lobs takeover offer for iiNet AAP - 40 minutes ago
    M2 lobs takeover offer for iiNet

    Internet provider M2 Group has reportedly put forward a takeover offer for rival iiNet, setting the scene for a possible bidding war with TPG Telecom. M2, which owns a string of internet providers including Dodo and iPrimus, has put forward a more than $1.5 billion offer for iiNet, according to the Australian Financial Review. The offer compares to the $1.4 billion takeover deal from TPG in March which iiNet recommended shareholders accept, in the absence of a superior proposal.

  • Bonds strengthen on weak US economic data AAP - 1 hour 16 minutes ago

    Australian bond prices have risen amid downbeat US economic data and concerns over Greek debt. St George senior economist Jo Horton said US bond yields were down following disappointing US business spending ...

  • Stocks to watch on Monday AAP - 2 hours 13 minutes ago

    Stocks to watch on the Australian stock exchange on Monday, April 27: APO - APN OUTDOOR - steady at $3.24 Billboard owner APN Outdoor has reaffirmed its prospectus forecasts of eight per cent growth in ...

  • Commodities markets summary AAP - 2 hours 15 minutes ago

    A summary of trading in key commodities markets overseas: ENERGY World oil prices have traded mixed after sharp gains in the previous session as traders weighed copious US supplies and Yemen unrest in ...

  • $A up against weaker greenback AAP - 2 hours 33 minutes ago

    The Australian dollar has risen amid softer-than-expected US economic data in the lead-up to this week's US Federal Reserve meeting. At 0700 AEST on Monday, the local currency was trading at 78.23 US cents, ...

  • Finance News Update, what you need to know AAP - 2 hours 45 minutes ago
    Finance News Update, what you need to know

    The Australian dollar is higher amid softer US economic data ahead of next week's US central bank meeting. At 0645 AEST on Monday, the June share price index futures contract was up 24 points at 5,962. FRANKFURT - Deutsche Bank says its profits fell about 50 per cent year on year in the first quarter over legal costs from a rate-rigging case brought by US and British authorities.

  • International markets roundup AAP - 2 hours 56 minutes ago

    A roundup of trading on major world markets: NEW YORK - The Nasdaq extended its closing record with strong boosts from Amazon, Microsoft and Google. The Nasdaq Composite Index added 36.02 points (0.71 ...

  • Australian market set to open higher AAP - 3 hours ago
    Australian market set to open higher

    The Australian market looks set to open higher after Wall Street gained on Friday with the S&P 500 and the Nasdaq both reaching new record highs. At 0645 AEST on Monday, the June share price index futures contract was up 24 points at 5,962. In equities news, the Legg Mason Global Investment Survey on investments is slated for release while Airbus Pacific gives a market forecast and Atlas Iron posts March quarter production results.

  • $A higher against weaker greenback AAP - 3 hours ago

    The Australian dollar is higher amid softer US economic data ahead of next week's US central bank meeting. At 0630 AEST on Monday, the local currency was trading at 78.24 US cents, up from 78.10 cents ...

  • Very sick to benefit from PBS review: Ley AAP - 16 hours ago
    Very sick to benefit from PBS review: Ley

    Health Minister Sussan Ley believes consumers and the seriously sick will be the winners by banning over-the-counter drugs from the list of subsidised medicines. She said the government is getting more and more requests for expensive, new generation cancer drugs and other medications it wants to be able to list on the Pharmaceutical Benefits Scheme. "It is very sensible to constantly review the Pharmaceutical Benefits Scheme," Opposition health spokeswoman Catherine King told ABC television.

  • Australian stocks to open higher AAP - 17 hours ago
    Australian stocks to open higher

    AMP chief economist Shane Oliver is tipping a positive start to the week with a rise of about 20-25 basis points. The US Federal Reserve will meet on Wednesday, but any change of monetary policy is highly unlikely and the focus will be on the central bank's statement, which could hint at future interest rate changes, he said. Local data will be scarce this week, Dr Oliver said, with the market focus mostly on a speech by Reserve Bank Governor Glenn Stevens on Tuesday for any hints on rate moves. Dr Oliver expects the Australian dollar to rise slightly from Friday's finish of 78.10 US cents.

  • Seniors group says leave savers alone AAP - 22 hours ago
    Seniors group says leave savers alone

    Seniors have a blunt message for the federal government: leave savers alone. Over-50s lobby group National Seniors Australia has joined the opposition to a bank deposits tax, saying people who save are an easy target for governments. "They're low hanging fruit for governments who are keen to grab money," chief executive Michael O'Neill told AAP. The Australian Bankers Association has said the tax would punish savers and self-funded retirees already struggling with low interest rates.

  • Bowen leading team in visit to China AAP - 22 hours ago
    Bowen leading team in visit to China

    Shadow treasurer Chris Bowen is heading to China for talks with government officials and business people. He will be joined by federal Labor parliamentarians Clare O'Neil and Nick Champion, as well as ...

  • VW chairman resigns after dispute AAP - Sun, Apr 26, 2015 12:07 PM NZST
    VW chairman resigns after dispute

    Volkswagen says board chairman Ferdinand Piech has resigned. The announcement on Saturday follows a rare public clash between Piech and other board members over the leadership of Europe's biggest carmaker. Piech had said in an interview that he was distancing himself from CEO Martin Winterkorn - only to find opposition from other board members who said he had not agreed that stance with them. The statement said that deputy board chairman Berthold Huber would serve as interim chairman.

  • Starbucks stores reopen tech glitch AAP - Sun, Apr 26, 2015 10:54 AM NZST
    Starbucks stores reopen tech glitch

    Starbucks was back in business on Saturday after a computer outage forced thousands of its stores to close early the night before. The glitch affected registers at 7400 company-operated stores in the US and 1000 in Canada, and prompted some stores to give away drinks. "All Starbucks stores in the US and Canada are expected to open for business as usual on Saturday," the company said in a statement late on Friday. Starbucks said the outage was caused by "a failure during a daily system refresh".

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