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...

Read More...
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...

Read More...
TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

INTERNATIONAL tourists flocked to Australia in FY16 with the tourism industry growing three times faster than the broader economy. Figures from Tourism Research Australia show there was a record 7.2 million international visitors in the 12 months to June 30, up 10 per cent on the previous year. The level of spending grew at a faster r...

Read More...
BRISBANE BRIDGES ASIA WITH SRI LANKA

BRISBANE BRIDGES ASIA WITH SRI LANKA

THREE Brisbane companies just invested more than $150,000 dollars in Sri Lanka. In a business 'matchmaking' event, more than 25 Sri Lankan tech businesses pitched Australian delegates for investment at a business event held by the Sri Lanka and Australia Chamber of Commerce (SLACC) earlier this year. SLACC President Kalum De S...

Read More...
CEO RESIGNS AS CARDNO POSTS LOSS

CEO RESIGNS AS CARDNO POSTS LOSS

CARDNO (ASX: CDD) is still in the red this year, with the company posting a $176 million net loss earlier today. While this current figure improves on last year's $245 million full year loss, it once again reflects heavy industry pressure and poor performance across numerous markets, particularly the American resource sectors. The...

Read More...
SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER Chef (ASX: SIV) dished out a net profit after tax of $22.4 million for the financial year, delivering a new CEO with the news.  The result includes a one-off after tax break cost of $1 million arising from the early redemption of $30 million of loan notes on 14 September 2015. The Brisbane-based equipment funding company d...

Read More...
MARKET CONDITIONS FLICK THE SWITCH ON ERM

MARKET CONDITIONS FLICK THE SWITCH ON ERM

LIGHTS are dim for ERM Power (ASX: EPW) today as the electricity provider posted a $30 million drop in profit, with its overall FY16 performance plugged to industry volatility. Despite a revenue increase of 19 per cent to $2.7 billion overall, the Brisbane company saw a sharp 46 per cent fall in statutory net profit from $65.9 million in ...

Read More...
TOUGH HALF TAKES SHINE OFF LAW FIRM

TOUGH HALF TAKES SHINE OFF LAW FIRM

SHINE Corporate's (ASX:SHJ) full-year earnings have slumped 50 per cent after a tumultuous year for the ASX-listed Brisbane law firm. The $14.8 million net profit compares with $29.6 million in FY15 and comes despite a record year of billings by the group with customer receipts rising to $152.9 million from $134.6 million. However...

Read More...
WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

SPENDING 12 months riding a down-turning industry, Watpac Limited (ASX: WTP) has emerged a little bruised, yet not completely out for the count, following its full year result. Posting a statutory loss after tax this morning of $21.4 million, down from an $11.5 million loss in FY15, the Brisbane giant admits its result was once again affe...

Read More...
EWM GROUP SIMPLIFIES PHILANTHROPY

EWM GROUP SIMPLIFIES PHILANTHROPY

BRISBANE family office EWM Group has made it easier for clients to give back with the launch of a specialist philanthropy offering. GivingSimple offers advice on how individuals, families and businesses can support communities, charities and causes of their choice without having to establish their own philanthropy structure. Donors ca...

Read More...
CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

COMMUTERS are set to benefit from cheaper fares following a major overhaul in south-east Queensland's public transport system. Under the Palaszczuk Government's Fairer Fares package, single zone travel during peak time will be reduced from $3.35 to $3.20 from next year. Customers will be able to travel further within a zone, w...

Read More...
STORM DAMAGE CLAIMS HIT $38M

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million. The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall. ICA acting CEO Karl Sullivan...

Read More...
QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QUEENSLAND Police Credit Union (QPCU) will rebrand as QBANK to reflect its broadening membership base. The move will see the community services financial institution become Queensland's newest bank on July 1, subject to final approval from the Australian Prudential Regulation Authority (APRA). QPCU CEO Grant Devine says the name c...

Read More...
BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUSINESS is at the forefront of the 2016 federal budget, with SMEs set to see their company tax rate fall to 27.5 per cent from July 1 this year. Treasurer Scott Morrison announced the company tax break in his first budget overnight, a further 1 percentage point reduction for small businesses with annual turnover less than $2 million. ...

Read More...
EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS are being urged to check the pay rates and entitlements that apply to their business over Easter, to avoid having egg on their face with Fair Work. Fair Work Ombudsman Natalie James says most underpayments are inadvertent and the result of employers failing to check their minimum obligations under workplace laws. "Wheth...

Read More...
ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

THE Gold Coast investment firm that helped Brisbane-based veterinary company Greencross (ASX:GXL) float on the stock exchange is exploring opportunities as diverse as lithium, coffee and agriculture to uncover the next big deal. Strategic Equity Alliance, headed by Glenn Gaudet and Justin Broad, has appointed youthful mining industry vete...

Read More...
QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND has been urged to snap out of the slump mentality and capitalise on the investment legacy created by the now defunct resources boom. Deloitte Access Economics' latest Queensland Business Outlook report says instead of looking at the boom as if it is a hole that needs to be filled, the state should be focusing on its traditi...

Read More...
TOURISM BOOM: WE AIN'T SEEN NOTHING YET

TOURISM BOOM: WE AIN'T SEEN NOTHING YET

FEARS of faltering Chinese growth and a global downturn have been downplayed by one economic forecaster who is predicting we are on the verge of a new economic boom, and one that's likely to last for some time. Dr Frank Gelber (pictured), chief economist with BIS Shrapnel, told a Brisbane briefing this week that the next growth story ...

Read More...
BUSINESS LEGAL EAGLE HEADS TO NEW FIRM

BUSINESS LEGAL EAGLE HEADS TO NEW FIRM

BUSINESS legal eagle Brett Heading has moved to the new Brisbane office of global law firm Jones Day. Heading (pictured) is well respected in corporate circles, having served as chairman and partner of McCullough Robertson for more than 30 years. He has advised company boards in managing capital raisings, as well as major IPOs includi...

Read More...
BRISBANE 7-ELEVEN OPERATOR SET TO FACE COURT

BRISBANE 7-ELEVEN OPERATOR SET TO FACE COURT

THE 7-Eleven wage war has worsened, after the Fair Work Ombudsman launched legal action against two Brisbane stores for short-changing staff more than $31,000. Jason Yuan has been accused of denying 21 employees penalty rates across his outlets located at 231 George Street and 174 Adelaide Street. The latest allegations take the total...

Read More...
FINANCE SHAKE-UP DRIVES GOGETTA EARNINGS

FINANCE SHAKE-UP DRIVES GOGETTA EARNINGS

GOGETTA Equipment Funding has cemented its place in the broking industry following a record year, driven by budding business owners seeking out flexible financing options. The commercial equipment hire company, launched by Silver Chef Limited (ASX:SIV) in 2008, recorded a 31 per cent lift in revenue to $57.4 million in FY15 compared to th...

Read More...
CARDNO $50M UP, $28M TO GO

CARDNO $50M UP, $28M TO GO

CARDNO (ASX:CDD) has raised $50 million in the first stage of its entitlement offer, as the engineering firm seeks to leverage its financial flexibility. The institutional component of its fully underwritten 1-for-2.175 offer received strong support from shareholders, with 98 per cent of entitlements taken up. The company aims to rais...

Read More...
STUDENTS REIMBURSED THOUSANDS IN UNPAID WORK

STUDENTS REIMBURSED THOUSANDS IN UNPAID WORK

A GROUP of high school students in Queensland have been reimbursed thousands of dollars for work they undertook as part of school-based traineeships. The year 11 and 12 students, aged between 15 and 18, completed work placement with local employers to attain a Vocational Education and Training (VET) qualification and Higher School Certifi...

Read More...
FUNDING PROGRAM TO BOOST EMPLOYABILITY

FUNDING PROGRAM TO BOOST EMPLOYABILITY

MORE than 8000 unemployed Queenslanders will be eligible for work skills training, as the Palaszczuk Government restores its Skilling Queenslanders for Work initiative. Training and Skills Minister Yvette D'Ath says 200 organisations across the state will share in $26 million through the first round of funding. "Labor's S...

Read More...
BRISBANE FACES MULTI-BILLION DOLLAR ECONOMIC RISK

BRISBANE FACES MULTI-BILLION DOLLAR ECONOMIC RISK

BRISBANE'S economy risks a US$11.17 billion blow from a series of manmade and natural threats over the next decade, according to Llloyd's. The insurance market specialist's City Risk Index 2015-2025 analyses gross domestic product (GDP) at risk across 301 major cities. Findings indicate that a total of US$4.6 trillion of p...

Read More...
DON'T BANK ON A RECESSION JUST YET, SAYS FORECASTER

DON'T BANK ON A RECESSION JUST YET, SAYS FORECASTER

THE Australian economy may have hit reverse gear in the June quarter, according to BIS Shrapnel, although don't bank on a recession just yet. Despite an overall upbeat view that the housing boom still has 18 months to run and that the end of the decade will bring better times, the economic forecaster has warned of a tough three years ...

Read More...
ACQUISITIONS POWER UP ENERGY DEVELOPMENTS PROFIT

ACQUISITIONS POWER UP ENERGY DEVELOPMENTS PROFIT

ENERGY Developments' (ASX: ENE) bottom-line profit surged 26 per cent last financial year, buoyed by acquisitions and a weaker Aussie dollar. The Brisbane-based power company delivered a net profit of $57 million in FY15, up from $45.4 million a year earlier. EBITDA rose 20 per cent, or $36 million, to $218.2 million, while total ...

Read More...
BRISBANE PORT UNDER FIRE FOR 'OUTRAGEOUS' SACKINGS

BRISBANE PORT UNDER FIRE FOR 'OUTRAGEOUS' SACKINGS

MINISTER for Industrial Relations Curtis Pitt has thrown his support behind maritime employees who were terminated by text message last week. Hutchison Port Holdings messaged almost 100 dock and maintenance workers late Thursday night, saying they weren't required for their shift the next day and to check their email for a redundancy ...

Read More...
VIRGIN NARROWS LOSS WITH COST CUTS

VIRGIN NARROWS LOSS WITH COST CUTS

VIRGIN Australia Holdings (ASX:VAH) has tapered its underlying loss before tax to $36.9 million in the fourth quarter, as Tigerair's performance starts to take off. The result represents a $46.2 million improvement since the previous corresponding period, or $72 million including Tigerair on a like-for-like basis. For the financia...

Read More...
RACING QUEENSLAND IN THE RED

RACING QUEENSLAND IN THE RED

RACING Queensland's debt is on track to more than double this financial year, with the State Government launching a taskforce to stem losses. The industry board posted a $12 million loss in 2014-15 and has forecast a deficit of $28 million in 2015-16. A broad consultation process will be conducted in coming months with key stakeho...

Read More...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter