NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific Data Centre (ASX: AJD) after it launched a fully funded $1.85 a share cash offer for the company. The takeover bid trumps the offer made by 360 Capital to acquire all the securities in APDC for $1.80 per share. NEXTDC CEO ...

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SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent research suggests that cash doesn't always talk. A study, commissioned by specialised recruiter Robert Half surveying 160 chief financial officers in Australia, shows more than 94 per cent of Australian CFOs have extended cou...

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WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Hastings Management, a global infrastructure-assets business with funds under management of about $14.3 billion. Charter Hall is considering the purchase of Hastings following the completion of due diligence and regulatory ...

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ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

SMALL business owners have been urged to review their payment surcharges ahead of the ban on excessive payment surcharges in force 1st September. The ACCC recommends small businesses assess their current surcharge models before the law comes into force, which limits the amount a business can charge customers for use of EFTPOS, MasterCard,...

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CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

THE BANK LEVY imposed on the so-called 'Big Five' should be extended to include all government-licenced companies with a turnover of $1 billion or more, according to Yellow Brick Road executive chairman Mark Bouris.

Speaking at the launch of 2017 Gold Coast Queensland Small Business Week, Bouris also says the money raised should be us...

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BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

ANALYSTS say that the public infrastructure and construction industry has emerged among the clear winners from last Tuesday's budget, as BIS Oxford Economics forecasts imminent major growth across the sector. Funds allocated from the 2017 Federal Budget will help drive an estimated 30 per cent growth for the industry, which is already...

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BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

THE BANK of Queensland (ASX: BOQ) is expected to be a major beneficiary of the Federal Government's bank levy which was introduced in Tuesday's Budget. The Government levy will raise $1.5 billion a year over the next four years, or around five per cent of the profits from the so-called 'Big Four' which includes Commonwealt...

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SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie thanks to its main catastrophe program and the purchase of an additional cover.

As the category three cyclone intensifies and heads towards the north Queensland coast between Townsville and Mackay causing forced evacuations, th...

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SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from the venture capital fund it has set up in partnership with Artesian Venture Partners and industry superannuation fund Hostplus.

This follows the SproutX pre-accelerator program, held in late 2016, where 110 startups and entr...

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WHY NEXTDC'S STOCK IS SOARING

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.

The Brisbane data centre company reported a revenue rise of 39 per cent to a company record of $58.7 million.

NEXTDC took in earnings before interest, taxes, depreciation and amortisation (EBITDA) of $23.9 million for th...

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EML'S EARNINGS SOAR

EML'S EARNINGS SOAR

EML Payments' (ASX: EML) earnings have soared 226 per cent for first half 2017.

The Brisbane payments provider took in $9.96 million in earnings before interest, taxes, depreciation and amortisation.  Depreciation in the Sterling relative to the Australian Dollar in fact lowered this result by $1 million.

EML generated 85 p...

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LJ HOOKER ESTABLISHES $100 MILLION REAL ESTATE STARTUP FUND

LJ HOOKER ESTABLISHES $100 MILLION REAL ESTATE STARTUP FUND

LJ Hooker has committed $100 million to establish a real estate startup incubator, the LJX-Lab. The digital research and development vehicle will foster innovation through identifying, incubating and commercialising home-grown 'proptech'.

It will also introduce new global best practices and technology to local markets to enri...

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CHINA INVESTMENT FLOWS COULD SLOW AFTER REGULATION CHANGED

CHINA INVESTMENT FLOWS COULD SLOW AFTER REGULATION CHANGED

CHINESE companies seeking outbound projects and Australian companies looking to secure Chinese outbound investment need to be aware of changes in the rules applying to foreign exchange remittances as these could impact their deal structures and timing, according to foreign investment experts from MinterEllison. Partners Chris Carr and Bi Che...

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BUDDY UP FOR COVER WITH NEW INSURANCE MODEL

BUDDY UP FOR COVER WITH NEW INSURANCE MODEL

A GERMAN peer-to-peer insurance platform is heading to Australia in a bid to make the industry more 'friendly'. Friendsurance, established in 2010, aims to make the process of finding an insurer more simple and affordable. Friendsurance Australia will be supported by the company's head office in Berlin, while Ellerston Cap...

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CASH CONVERTERS FORCED TO REPAY $11M ON LOANS

CASH CONVERTERS FORCED TO REPAY $11M ON LOANS

THE corporate watchdog has forced pay-day lender Cash Converters International (ASX:CCV) to repay borrowers $11 million after finding the company had failed to adequately assess the ability to repay loans. Cash Converters has been issued with an enforceable undertaking to refund consumers $10.8 million on about 118,000 loan contracts. It ...

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ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

WITH a view to tapping the $600 billion self-managed superannuation fund (SMSF) market, Brisbane-based Arminius Capital has launched flagship funds for retail investors. Arminius Managing Director Marcel von Pfyffer announced the launch of the Global Macro Multi Asset (GMMA) and Executive Money Market Account (EMMA) funds, which the compa...

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RETAILERS TIPPED TO LOSE ON GRAND FINAL FRIDAY

RETAILERS TIPPED TO LOSE ON GRAND FINAL FRIDAY

AS the AFL grand final reaches fever pitch it won't be cause for celebration for many Victorian businesses, according to the Australian Retailers Association (ARA). The Victorian Government added Grand Final Friday as a public holiday last year to recognise the sporting event. ARA executive director Russell Zimmerman says many ret...

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ASIC DROPS CIVIL CASE AGAINST LM INVESTMENT DUO

ASIC DROPS CIVIL CASE AGAINST LM INVESTMENT DUO

TWO directors of failed Gold Coast funds manager LM Investment Management (LMIM) have been spared further proceedings by the corporate watchdog after it dropped a civil action against them. However, the Australian Securities and Investments Commission is still pursuing the matter against three others, including former CEO Peter Drake (pic...

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CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

INDUSTRIAL and Commercial Bank of China (ICBC) has opened its second Australian branch in Brisbane to support international trade. ICBC already operates an international branch in Sydney, while building on the financial institution's representative office in Brisbane. Acting Premier and Treasurer Curtis Pitt says the move demonstr...

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SLATER AND GORDON TARGETS UK COMPANY FOR $86M

SLATER AND GORDON TARGETS UK COMPANY FOR $86M

SLATER and Gordon (ASX:SGH) plans to sue the UK company behind the acquisition that triggered the law firm's ASX downfall. The Melbourne-based law firm plans to bring claims against Watchstone Group Plc, formerly known as Quindell Plc, for the $1.3 billion purchase of its professional services division last year. In a statement to...

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