Articles

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

A SECOND bridge over the Nerang River is the centrepiece of the ASF Consortium's plan to improve traffic flow at The Spit as it pursues plans for a $3 billion casino and resort next to Sea World.

Traffic is already an issue for The Spit, making the consortium's plans a key part of its strategy to gain Queensland Government approv...

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BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP Billiton (ASX: BHP) and Brazilian mining company Vale have entered into a preliminary agreement with Brazilian federal prosecutors to settle the $47.5 billion civil lawsuit brought after the Samarco dam disaster, which occurred on 5 November 2015.

The failure of the dam, which is owned by Samarco, a joint venture between Vale and BHP Bill...

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BLK SPORT FOUNDER TYRON BRANT REMAINS CEO UNDER NEW OWNERS

BLK SPORT FOUNDER TYRON BRANT REMAINS CEO UNDER NEW OWNERS

BLK Sport has been purchased from receivers McGrathNicol by a private consortium composed of a TimorLeste-based oil company and Fiji investors in a deal that keeps founder Tyron Brant (pictured) as CEO and allows most of the company's staff to retain their jobs.

The consortium, led by Esperança Timor Oan (ETO), acquired the BL...

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CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal in Australia.

The company's co-founder, Greg Roebuck, who has been MD and CEO of Carsales since 2002, announced his retirement yesterday,  the same day global auto-industry powerhouse Cox Automotive completed its merger...

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CSL'S PROFIT UPGRADE CAUSES SHARES TO SOAR

CSL'S PROFIT UPGRADE CAUSES SHARES TO SOAR

HEALTHCARE giant CSL Limited's (ASX: CSL) share price climbed 12.5 per cent after the company almost doubled its net profit guidance for FY17.

In August last year, the company foreshadowed that its FY17 net profit was expected to grow by around 11 per cent at a constant currency compared to the previous financial year.

But the r...

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DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

DATA#3 expects net profit before tax to rise 30 per cent in the first half of FY17, meeting its guidance for the period.

The Brisbane-based business (ASX: DTL) expects to report $8 million NPBT, up from $6.1 million the previous corresponding period.

The number is consistent with the first half projection from the Data#3 AGM in...

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BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains made at the end of 2016, according to the latest SENSIS research.

In December, the SENSIS Business Index was seven points up on the previous year at +46 - a six-year high - and the chief executive officer, John Allan, says exp...

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CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

BLUE Sky Alternative Investments (ASX: BLA) has defended its governance and valuation processes in response to several critical reports from analysts that have emerged in the media recently.

Concerns have been raised about the company's lack of independent directors on its seven-member board, where only the chairman is independent, and th...

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BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's Australia and New Zealand grocery and cheese business for $460 million.

The business includes brands such as Vegemite, ZoOSh and Bonox and KRAFT-branded products such as peanut butter, processed cheese slices, mayonnaise, parmes...

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GUVERA ESCAPES WIND-UP ORDER

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the Supreme Court of Queensland this morning.

The Hong Kong residential property management company walked away from the case, as the dismissal was accepted by both sides.

Guvera's music streaming service is still operat...

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CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institute Index of Consumer Sentiment, despite low interest rates and rising equity prices in the lead up to the New Year. The index rose by just 0.1% in January, from 97.3 in December to 97.4, failing to make up for the 3.9 per cent ...

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WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS (ASX: WES) has lifted its first-half profit guidance due to surging coal prices and higher than expected coal output in the second quarter of FY17.

The company's resources business is now expecting earnings before interest and tax of around $135 - $140 million for the first half of FY17.

This new forecast greatly exceeds the...

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SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year results in late February.

In an update released to the ASX this morning, the Brisbane-based company says it will achieve a statutory net profit before tax of $141.4 million for the 12 months to 31 December 2016, an increase of 17 per...

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WINDSCREEN COMPANY SMASHED WITH BIG FINE FOR UNDERPAYING WORKERS

WINDSCREEN COMPANY SMASHED WITH BIG FINE FOR UNDERPAYING WORKERS

AN Adelaide car windscreens company and its director have been penalised almost $85,000 after exploiting seven employees, including one who was paid a flat hourly rate of just $12.50 for a period of 10 years.

Complete Windscreens - which specialises in windscreen repairs, fitting and tinting - has been penalised $73,425 and its part-owner and...

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GROUPTOGETHER A GIFT FOR TIME-POOR PARENTS

GROUPTOGETHER A GIFT FOR TIME-POOR PARENTS

JULIE Tylman and Ali Linz have taken the stress out of gift giving by creating GroupTogether, an online platform which allows users to pool money towards a single gift.

In around two years the platform has garnered around 20,000 users and has proved especially popular for parents organising gifts for teachers - last Christmas more than 200 sc...

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SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX Medical Ltd (ASX: SRX) has sacked its chief executive officer, Gilman Wong (pictured), following an investigation into Wong's share trading activity in October 2016.

The board of Sirtex decided to terminate Wong's contract effective immediately last Friday after reviewing a report from legal advisers Watson Mangioni.

The com...

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SANTA DELIVERS KOGAN A GIFT

SANTA DELIVERS KOGAN A GIFT

KOGAN.COM (ASX: KGN) has exceeded its expectations and reported another strong quarter of trade.

The online retailer today proved to power through the competitive Christmas trading period, outperforming in both November and December.

The Melbourne company ended the quarter with $26.5 million in cash.

The uplift means the company has alr...

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FOUR WAYS YOU SHOULD PROTECT YOUR IT SYSTEMS FROM EXTREME WEATHER

FOUR WAYS YOU SHOULD PROTECT YOUR IT SYSTEMS FROM EXTREME WEATHER

SHANNON Overs, co-founder of onPlatinum ICT, sees it too often, perhaps half a dozen times per year businesses that do not have adequate protection from extreme weather events.

The lightning storms and heat of summer, and once-in-a-100-year disasters such as the Brisbane Floods of January 2011, can disrupt communications and destroy esse...

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IOT GROUP ORDERS FIRST PRODUCTION OF ROVA DRONE

IOT GROUP ORDERS FIRST PRODUCTION OF ROVA DRONE

IOT Group (ASX:IOT) has ordered production of 40,000 units of the ROVA flying selfie drone from Chinese technologies manufacturer, Shenzhen AEE Technology for delivery in March 2017.

IOT says it placed this initial order after receiving a very positive response from potential customers to the ROVA drone during its sales and marketing campaign...

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PETER GREGG RESIGNS AS PRIMARY HEALTH CARE CEO AFTER ASIC CHARGES

PETER GREGG RESIGNS AS PRIMARY HEALTH CARE CEO AFTER ASIC CHARGES

PETER Gregg has resigned as Primary Health Care (ASX: PRY) CEO to deal with two charges of violating the corporations act brought by ASIC related to his time at Leighton Holdings.

The Australian Securities and Investment Commission (ASIC) alleges that Gregg falsified company documents in 2011, and he will front the Downing Centre Local Court ...

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RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whether the operators have the proven expertise and experience to genuinely help budding entrepreneurs.

Jock Fairweather (pictured), director of co-working space Little Tokyo Two and accelerator program Thunder Lizards, claims t...

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START-UP SITESEE GIVES NEW VISION OF MOBILE PHONE TOWERS

START-UP SITESEE GIVES NEW VISION OF MOBILE PHONE TOWERS

A GOLD Coast start-up is receiving strong signals from the telecoms industry that its 3D modelling service for mobile phone towers is desperately needed.

As the towers proliferate in response to the public's demand for mobile phone reception, the owners are searching for ways to maintain them efficiently and to monetise their vertica...

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BELEAGUERED SURFSTITCH FACES FURTHER LEGAL WRANGLE OVER INTELLECTUAL PROPERTY

BELEAGUERED SURFSTITCH FACES FURTHER LEGAL WRANGLE OVER INTELLECTUAL PROPERTY

SURFSTITCH has severed ties with Streamline, the IT services company owned by its estranged co-founder Justin Cameron as the two businesses prepare for a fight over intellectual property.

It is a sign of the bitter fight between Cameron (pictured) and the online surf retail business that he co-founded alongside Lex Pedersen, who remains a dir...

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UNION WILL APPEAL FWA DECISION TO TERMINATE LOY YANG ENTERPRISE BARGAINING AGREEMENT

UNION WILL APPEAL FWA DECISION TO TERMINATE LOY YANG ENTERPRISE BARGAINING AGREEMENT

THE long-running dispute between AGL Energy Limited and its workers at the Loy Yang A Power Station in south eastern Victoria has come to a head after the Fair Work Commission (FWA) agreed to terminate the workers' enterprise bargaining agreement.

The decision comes after 18 months of bitter negotiations that included a withdrawn ind...

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PROPERTY INDUSTRY CONFIDENCE GROWING IN QUEENSLAND POST MINING BOOM, BUT LAGS BEHIND OTHER STATES

PROPERTY INDUSTRY CONFIDENCE GROWING IN QUEENSLAND POST MINING BOOM, BUT LAGS BEHIND OTHER STATES

QUEEENSLAND's property industry has growing optimism about the year ahead, but the confidence of the state's largest industry still lags behind the other major states according to the latest quarterly ANZ/Property Council industry sentiment survey.

Property Council Queensland Executive Director, Chris Mountford, says the results r...

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MARGOT ROBBIE INSTAGRAM ENDORSEMENT MAKES INK GIN SALES BLOOM

MARGOT ROBBIE INSTAGRAM ENDORSEMENT MAKES INK GIN SALES BLOOM

HUSK Distillers has sold out of Ink Gin after a Margot Robbie Instagram post.

The blue gin, which turns pink when mixed with tonic water due to the infusion of the pH sensitive butterfly pea flower, had already developed a cult following, and Robbie's endorsement made sales bloom.

She was pictured late last month on the Gold Coa...

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LAURA MCBAIN DUMPED AS BELLAMY'S CEO AS ITS PROBLEMS ARE LAID BARE

LAURA MCBAIN DUMPED AS BELLAMY'S CEO AS ITS PROBLEMS ARE LAID BARE

BELLAMY'S Organic has terminated the contract of its chief executive officer Laura McBain in response to the fallout from its sales plunge, which will halve the company's earnings in FY17 compared to the previous year.

McBain's departure was revealed as part of the Tasmanian company's keenly anticipated market update today, wh...

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SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses are leading the way following strong sales performances during December, particularly in the hospitality sector.

Chief executive of Tyro, an independent EFTPOS banking institution, Gerd Schenkel, says that based on customer ...

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ANZ OFFLOADS UDC FINANCE BUSINESS FOR $NZ660

ANZ OFFLOADS UDC FINANCE BUSINESS FOR $NZ660

ANZ Bank has agreed to sell UDC, an asset finance business in New Zealand, for $NZ660 million (~$A625 million), marking its second asset sale in as little as two weeks. 

The UDC deal follows the sale last week of ANZ's 20 per cent stake in Shanghai Rural Commercial Bank to COSCO for $1.8 billion.

The Bank says the sale of UDC Fina...

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SCREEN QUEENSLAND CEO TRACEY VIEIRA RESETS THE STAGE FOR FILM SUCCESS

SCREEN QUEENSLAND CEO TRACEY VIEIRA RESETS THE STAGE FOR FILM SUCCESS

TRACEY VIEIRA has led Screen Queensland to three of its best years since taking over as CEO in 2014, bringing the organisation out of a malaise that had set in amid bullying claims and the resignations of two CEOs.

Its renewal culminated in FY16 when the organisation secured a direct economic spend of $218 million through international p...

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