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BUNNINGS BOSS JOHN GILLAM QUITS WESFARMERS

BUNNINGS BOSS JOHN GILLAM QUITS WESFARMERS

THE man behind Bunnings' home improvement domination has resigned from his role in charge of the retailer.

John Gillam (pictured) says it is the right time to "pass on the leadership baton" at Bunnings, where he has held the role of CEO and managing director for 12 years.

It comes six months after Wesfarmers (ASX: WES)...

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NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

AFTER two decades in the hands of a private syndicate, The Novotel Melbourne Glen Waverley has been sold to the Sydney-based iProsperity Group for $73.6 million. Colliers International's Gus Moors, Neil Scanlan and Guy Wells finalised the deal with the Asian offshore investment advisory firm, following an expression-of-interest campai...

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SUPERLOOP ONE STEP CLOSER TO BIGAIR ACQUISITION

SUPERLOOP ONE STEP CLOSER TO BIGAIR ACQUISITION

BIGAIR (ASX:BGL) shareholders have given Superloop (ASX:SLC) the green light to acquire the telecommunications company. Just over 97 per cent of shareholders voted in favour of the scheme of arrangement, which would allow the Brisbane-based company to purchase all of the BigAir shares it doesn't already own. BigAir will seek order...

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RINEHART-BACKED OIL AND GAS EXPLORER SUES VICTORIA FOR $2.7 BILLION

RINEHART-BACKED OIL AND GAS EXPLORER SUES VICTORIA FOR $2.7 BILLION

AN oil and gas explorer backed by Gina Rinehart (pictured) is suing the Victorian state government for more than $2.7 billion for banning onshore oil and gas exploration.

Lakes Oil NL (ASX: LKO) and its subsidiaries Mirboo Ridge and Petro Tech, filed a writ in the Supreme Court of Victoria initiating further legal proceedings to those an...

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CHINESE DRIVE GOLD COAST TO A MILLION MILESTONE

CHINESE DRIVE GOLD COAST TO A MILLION MILESTONE

INTERNATIONAL visitor numbers for the Gold Coast have breached one million annually for the first time, although it is business travellers rather than holidaymakers that have recorded the biggest percentage growth over the past year. The latest International Visitor Survey conducted by Tourism Australia reveals that 1.014 million internat...

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BLUE SKY FINALISES SECOND NEW YORK ACQUISITION

BLUE SKY FINALISES SECOND NEW YORK ACQUISITION

BLUE Sky Alternative Investments (ASX:BLA) has finalised its acquisition of a second office tower in New York through Cove Property Group. Located in Manhattan, 441 Ninth Avenue represents a transaction value of more than $400 million and follows the purchase of 2 Rector Street in March. The majority of the equity for the deal was pro...

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PROFIT BOOST FORECAST AT VILLA WORLD

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to the ASX today.

The company announced that it was targeting net profit after tax of between $19.5 million and $21.4 million for the first six months of the year, compared to $20.4 in the previous corresponding period.

Strong ca...

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WP CURVE SOLD TO GODADDY

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-based WordPress support site, which was founded by Dan Norris and Alex McClafferty in 2013, will be brought under the GoDaddy banner.

According to a blog post on the WP Curve website, McClafferty has been working with the GoDadd...

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BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectively strips executive influence from remaining company co-founder Lex Pedersen.

Pedersen, along with Surfdome founder Justin Stone, will resign as executive directors of SurfStitch at the end of December as the struggling Gold Coa...

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ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-based company (ASX: ORG) to focus on its energy markets business and a simplified integrated gas business.

The new business, NewCo, will include Origin's interests in a number of gas and oil projects, including:
Otw...

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GOLD COAST YOUNG ENTREPRENEURS GET AN EDGE WITH COUNCIL

GOLD COAST YOUNG ENTREPRENEURS GET AN EDGE WITH COUNCIL

GOLD Coast Young Entrepreneur winners and finalists have secured a business edge by the City of Gold Coast under its 'buy local' procurement policy. The 'buy local' procurement policy, which aims to give local businesses a leg up, has announced it will only seek offers for contracts worth less than $200,000 from companies ...

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STRAIGHT TALK: NEW BLUE SKY MANAGING DIRECTOR ROBERT SHAND HAS HIT THE GROUND RUNNING

STRAIGHT TALK: NEW BLUE SKY MANAGING DIRECTOR ROBERT SHAND HAS HIT THE GROUND RUNNING

ROBERT Shand says people have asked him how he has stayed so relaxed in taking control of Blue Sky Alternative Investments (ASX: BLA) from its founder and talisman Mark Sowerby.

When Sowerby stepped down in August, 10 years after founding the company, it came as a shock to many.

At the time, the company had a market capitalisation o...

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HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it changed the game for fast food when it arrived in this country 45 years ago.

The first restaurant, at Yagoona in south west Sydney, was non-descript compared to today's standards, but it was one of the first steps towards what ...

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BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

LUXURY vehicle brand BMW has agreed to pay its dues following a five-year string of lending failures which resulted in hardship for consumers. ASIC accepted an enforceable undertaking from BMW Finance, which will see the car dealer implement Australia's largest consumer credit remediation program to the tune of $77 million. The re...

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NEW CLASS OF EDUCATION NURTURES ENTREPRENEURS OF TOMORROW

NEW CLASS OF EDUCATION NURTURES ENTREPRENEURS OF TOMORROW

THE rise in youth unemployment has affirmed the importance of entrepreneurship education, and south-east Queensland is fertile ground for the next generation of business leaders. Bond University assistant professor of entrepreneurship Dr Baden U'Ren (pictured) says with youth unemployment at record levels, initiatives such as Bond'...

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DUET GROUP SUBJECT OF $7.3 BILLION TAKEOVER OFFER

DUET GROUP SUBJECT OF $7.3 BILLION TAKEOVER OFFER

HONG Kong's Cheung Kong Infrastructure has launched a $7.3 billion cash bid for one of Australia's largest energy infrastructure owners, the listed DUET Group (ASX:DUE).

It comes less than four months after the federal government rejected the company's $10 billion bid for New South Wales electricity distributor Ausgrid, on the gro...

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G8 SHARES BUOYED BY FORECAST PROFIT RECOVERY

G8 SHARES BUOYED BY FORECAST PROFIT RECOVERY

CHILDCARE centre operator G8 Education (ASX:GEM) has revealed it is on track to post a pre-tax profit of up to $162 million this calendar year, giving investors reason to push the share price higher in a broadly weaker market. The forecast result makes up for a shortfall in earnings during the first half, which caused shareholders to shar...

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BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory hurdle exporting its baby formula into China.

Although the company's unaudited revenue for the period between 1 July 2016 to 20 November 2016 is up 24 per cent compared to the same period the previous year, at $93 millio...

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BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies in Brisbane.

Now in the hands of Bob's son, Grant, the company is respecting its core ideals while growing into a modern brand, a brand that Grant Menzies aims to make into an Australian great.

"I want to create ...

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WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health You don't have to turn to science to understand the benefits of getting in regular exercise, as Steve Hunt, from Media Hunt Communications, says, "it makes you feel fantastic and ready for the day". In fact, the H...

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BULLETS BACK IN THE BUSINESS COMMUNITY

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball history. From humble beginnings in 1979, the Bullets went on to win three National Basketball League (NBL) Championships in 1985, 1987 and most recently in 2007. After an eight-year hiatus, the club was reinvigorated by th...

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RACQ TO ADD BANKING SERVICES AFTER QT MUTUAL MERGER

RACQ TO ADD BANKING SERVICES AFTER QT MUTUAL MERGER

THE $3.9 billion merger between RACQ and QT Mutual Bank has been approved by the bank's members, clearing the way for Australia's first motoring body with bank services.

The proposal secured an overwhelming 90 per cent support among QT Mutual members, easily meeting the 75 per cent requirement and the transaction can now proceed.

I...

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WATPAC CHARGES AHEAD WITH NEW $170M BANK FACILITY

WATPAC CHARGES AHEAD WITH NEW $170M BANK FACILITY

WATPAC (ASX:WTP) has finalised a new $170 million syndicated banking facility to tackle multiple large-scale projects. The Brisbane-based developer has secured bank guarantees with Bank of Queensland (ASX:BOQ), BNP Paribas, Commonwealth Bank of Australia (ASX:CBA) and HSBC. The new arrangement is a $50 million increase in Watpac's...

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QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT Fund 5 is free to flex its muscles further in the gym market, after Australia's competition watchdog announced today that it wouldn't oppose the company's acquisition of the Fitness First Asia Pacific Group. As the owner of the Goodlife Health Clubs network and lead franchisor of Jetts Fitness, Quadrant set the market...

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NEW REAL ESTATE PLATFORM LETS YOU BYPASS THE AGENT

NEW REAL ESTATE PLATFORM LETS YOU BYPASS THE AGENT

THERE'S a new player in the digital economy that allows you to buy a house online without the need for human contact. Sydney-based property portal iBuyNew (ASX:IBN) has launched an online reservation system for new home buyers to reserve their preferred properties 24/7 rather than waiting for a real estate agent. Buyers can view fu...

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TRAPROCK SEEKS FUNDS IN ASX IPO TO SEARCH HISTORIC QUEENSLAND MINES FOR GOLD

TRAPROCK SEEKS FUNDS IN ASX IPO TO SEARCH HISTORIC QUEENSLAND MINES FOR GOLD

A FLEDGING exploration company with hopes of opening a gold-copper mine near Rockhampton is seeking to raise $6.5 million in an ASX IPO.

"The best place to find a gold mine is in a goldfield, and that's exactly where Traprock will be exploring with the funds raised from this IPO," says Traprock's managing director, David Jel...

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GOLD COAST SHAPES UP BEST IN A POTENTIAL APARTMENT CRASH

GOLD COAST SHAPES UP BEST IN A POTENTIAL APARTMENT CRASH

THE Gold Coast is emerging as Australia's most resilient property market with capacity to ride out a potential collapse in the capital cities' apartment boom, even though sales have hit their highest levels in eight years, says a property researcher. The latest Urbis Gold Coast Apartment Essentials report for the September quarter...

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NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

A NEW look Citi Centre Arcade in Adelaide has snared a number of high profile lease deals, including McDonald's and Westpac. The facelift features a glass entrance to the arcade's Rundle Mall entry, a canopy upgrade and new public facilities. Two tenancies have been combined to create a new 177sqm site which has been leased to...

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KFC COOKS UP STRONG RESULTS FOR COLLINS FOODS

KFC COOKS UP STRONG RESULTS FOR COLLINS FOODS

COLLINS Foods' (ASX:CKF) half-year profits have sizzled after adding more than 20 KFC stores to its network across Australia and market entry into Europe. The Brisbane-based food service operator recorded a 17.2 per cent lift in net profit to $16.8 million for the half-year ending October 16. Revenue was up 4.7 per cent to $282.5 ...

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SLATER AND GORDON STILL CHASING PORTION OF LOST UK MONEY

SLATER AND GORDON STILL CHASING PORTION OF LOST UK MONEY

THE £50 million that Slater and Gordon (ASX:SGH) is trying to claw back from the disastrous deal with Watchstone Group last year remains in escrow, the company announced today.

A determination on who gets the amount, worth AU$83.43, hinges on the result of a legal claim made by Slater and Gordon.

Slater and Gordon posted a full-year ...

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