BUSINESS

Manufacturing firm Hills Industries Ltd (ASX: HIL) reported on Tuesday that its net profit for the past 12 months leading to June 30 soared to a remarkable 322.7 percent to $40.188 million as the company’s eco products division and home hardware experienced a significant recovery in 2010.

The latest Retail Trade figures from the Australian Bureau of Statistics indicate retail sales edged up 0.2 per cent in June, seasonally adjusted, compared with an increase of 0.2 per cent the previous month.

The materials, energy and finance sectors provided much of the power behind the local market's strong move this morning.

The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.

The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.

Sellers of yellow cake are hoping for higher prices but overall demand remains discretionary.

Amidst circulating reports that giant oil firm Royal Dutch Shell may be eyeing Nexus Energy Ltd (ASX: NXS) as a takeover target, the energy company’s shares saw a steep climb on Tuesday.

A record $37 million lawsuit brought against Australian department store David Jones (ASX: DJS) by one of its employees is overshadowing the retailer’s launch of its spring-summer fashion collection.

A record $37 million lawsuit brought against Australian department store David Jones (ASX: DJS) by one of its employees is overshadowing the retailer’s launch of its spring-summer fashion collection.

The Virgin Blue Group of Airlines this morning sent off its first Sydney to Uluru service.

Recent interest rate hikes have influenced the purchasing decisions of almost one in two Australians with a mortgage over the past six months, based on a retail insight survey conducted by the Australian National Retailers Association (ANRA) and American Express.

US markets started August with a bang, closing the session at 10-week highs after better-than-expected manufacturing data and some strong bank earnings out of Europe.

Last night saw a string of better-than-expected numbers lift confidence and encourage investors back into the market.

The AUD has had a strong night during the offshore session, currently trading comfortably above USD0.9100 after better than expected manufacturing data was released in the US and exceptional profit reports from some of Europe's main banks saw risk appetite back on the table.

Navitas, which offers university preparation, English language training, workforce training and migrant settlement services, has reported a 31 per cent increase in annual net profit and expects strong earnings growth in financial year 2010-11.

US construction spending rose 0.1pct in June, better than forecasts centred on a decline of 0.5pct. The US ISM manufacturing index eased from 56.2 to 55.5 in July, better than forecasts centred on a reading of 54.1. Employment rose from 57.8 to 58.6.

U.S. stocks climbed Monday as encouraging data on industrial activity in the U.S. and Europe and better than expected earnings from European banks HSBC Holdings and BNP Paribas gave the market a strong start to the month of August.

The Australian Dollar continues to benefit from a weaker greenback and opens this morning buying 0.9136.

Not too negative data had Wall Street on the fly on thin volume last night with metal prices following suit. Dow up 208.

More confirmation yesterday that Chinese manufacturing slowed last month.But at the same time we had evidence that Austr...

Building products supplier, Crane Group has confirmed guidance and reported a sharp fall in net profit for 2010 finan...

Diversified investment company Argo Investments Ltd has posted a fall in annual net profit for the June 30 year, but o...

The Solomon Lew-controlled Premier Investments yesterday attempted to argue that it sees a significant improvement for i...

Retirement village group Aevum Limited has rejected an unsolicited takeover offer proposal from real estate group Stockl...

Rio Tinto has advanced to the next stage of developing its world-class Simandou iron ore project in Guinea, approving US$170 million of further funding for mine, rail and port infrastructure work.

The Australian dollar opened more than half a US cent stronger as equity markets rallied and commodity prices surged overnight.

The Australian share market is expected to jump after it has received positive leads from offshore trading overnight.

The Australian share market has underperformed this year. Here's why. Also, there are good reasons why the year ahead might see the Australian market outperform.

Tiger Airways and Thai Airways International jointly announced on Monday that they are set to form an alliance that would start servicing routes in Thailand by the first quarter of 2011, en route to establishing some presence in promising markets in the Asia-Pacific regions.