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Farming technology enterprise, Livestock Improvement Corporation (LIC) has recorded a 3 per cent fall in profits during the one year till May, 2013.

The net profit of LIC was recorded at $23.7 million, which is $700,000 lower than the previous year. The fall in the net profit was mainly due to lower annual valuation of LIC's biological elite bull team. The enterprise has announced a record dividend of $16.75 million for the
2012-2013 year for its farmer-shareholders. The dairy farmer co-operative had paid a dividend of $11.9 million to its shareholders in 2011.

The Adelaide casino of SkyCity has been able to extend its licence by 20 years and the company will also be allowed to operate 500 extra gaming machines.

The approval comes after the South Australian Government altered the gambling laws in the state. The government has reached an agreement with the opposition to halve the limits for gaming machines but allowed to maintain the number of machines and venues before the new bill was passes.

British Telecom has recorded an increase of 5 per cent in underlying profits to £595 million during the three months till June.

BT’S outgoing chief executive Ian Livingston is leaving the company in a strong position with increased profits and shares riding on positive sentiments. The revenues of the company were down moderately by 1 per cent to £4.4 billion due to regulatory price reductions in the UK. It is believed that BT has been able to transform under Livingston acquiring a modern outlook with good prospects.

Accountancy firm, Baker Tilly has approached rival RSM Tenon over a possible takeover bid from the company that might impact shareholder value.

The shares of RSM Tenon fell as much as 30 per cent after it announced expression of interest from Baker Tilly. RSM Tenon is struggling with its £80 million debt burden from taking out other enterprises around the UK. The company is currently the seventh largest accountancy firm in the UK and has three offices in Scotland.

AG Barr has indicated that it might be looking to acquire the Lucozade and Ribena brands that re being sold by pharmaceuticals giant GlaxoSmithKline.

The manufacturer of Irn-Bru has reported strong trading and is now looking to expand its offerings. Roger White, the Chief Executive Officer of AG Barr said that the company’s trading performance is better than rival Britvic. AG Barr, which offers Tizer and fruit juice range Rubicon, was still keen to join the larger industry player in the country.

New York, July 26 - Actor Richar