Finance news you need to know today

HALF-YEAR profit at David Jones has fallen 39 per cent as sales dropped and its South African owner admitted to making mistakes.

THE Australian share market looks set to open more than half a per cent higher with Wall Street’s Dow Jones and S&P500 offering a strong positive lead. At 0700 AEDT on Friday, the share price futures index was up 34 points, or 0.57 per cent, at 5,948.

Meanwhile, the Australian dollar is higher against a weakened US dollar, although it has fallen away from an over night high of 78.65 (0200 AEDT). The local currency was trading at 78.44 US cents at 0700 AEDT on Friday, from 78.08 on Thursday.

WORLD FINANCE UPDATE:

WASHINGTON — The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February, which should continue to underpin the economy.

BERLIN — A German court is considering whether cities should ban diesel cars to lower air pollution, a move that could have drastic consequences for the country’s auto industry.

LONDON — Computers and mobile phones are not the only devices likely to be targeted by cyber-criminals, with webcams, televisions and even fridges at risk, Interpol warns.

THURSDAY HIGHLIGHTS:

QANTAS — Qantas will hand over yet more cash to shareholders with another buyback after the carrier lifted first-half profit 18 per cent to $607 million.

NINE — Nine Entertainment’s television advertising revenue has grown for the first time in two and a half years as big name companies returned their brands to free-to- air TV.

QANTAS PILOTS — Qantas plans to address a global pilot shortage by setting up what it says could be the southern hemisphere’s largest flight academy — and it wants the states and territories to chip in.

BLACKMORES — Blackmores shares have plunged despite the vitamin maker’s 20 per cent half year profit growth, as investors reacted to a warning of a soft second half due to supply issues and a weaker Australian market.

CROWN — Casinos operator Crown Resorts says its Perth casino is feeling the pinch after the end of the mining boom and has called for more attention on tourism from the West Australian government to help lift performance.

DAVID JONES — Half year profit at David Jones has fallen 39 per cent as sales dropped and its South African owner admitted to making mistakes in its efforts improve the business.

KOGAN — Kogan.com shares have soared to a record high after the online retailer’s first- half revenue surged by 45 per cent, driven by growing customer numbers and increasing earnings across its expanding range of services.

BELLAMYS — Bellamy’s Australia has more than tripled its first-half profit as its turnaround plan gains traction, but the infant formula supplier is still waiting on a licence to sell more products in stores in China.

FLIGHT CENTRE — Flight Centre’s international business has taken off, helping to lift the travel agency’s first-half profit and prompting an upgrade of its full-year forecast.

WESTFIELD — Westfield Corporation’s joint CEO Peter Lowy insists its board and the Lowy family remain committed to the shopping centre giant’s $33 billion takeover by Unibail-Rodamco, despite sharemarket volatility hitting valuations.

INGHAMS — Ingham’s Group lifted first-half profit by more than a quarter after higher poultry volumes offset a fall in sales for the company’s animal feed operation.

QUBE — Qube Holdings expects to deliver an improvement in full-year underlying profit amid the likelihood of stable volumes and limited capacity to secure rate increases. \