ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

NEWS Corporation (ASX: NWS) has been given the green light to acquire Australian Regional Media (ARM) from APN News and Media (ASX: APN), following a review by Australia's competition watchdog. The Australian Competition and Consumer Commission (ACCC) launched its review in August, and shortly after published a 'statement of issue...

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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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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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RIGHTCROWD REVERSE TAKEOVER MOVES A STEP CLOSER

RIGHTCROWD REVERSE TAKEOVER MOVES A STEP CLOSER

STEVE Terry has resigned as managing director of Omni Market Tide (ASX:OMT) as the company negotiates the transition to its new structure through the reverse takeover of RightCrowd.

His resignation clears the way for RigthCrowd founder, and its current CEO, Peter Hill, to take control of the company as managing director.

As reported recent...

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REOPENING DATE SET FOR DREAMWORLD

REOPENING DATE SET FOR DREAMWORLD

DREAMWORLD will reopen on 10 December, six weeks after four people died on one of its rides - an incident that has so far cost the company $13.4 million.

The theme park will reopen as a mechanical and operational safety review nears completion, says Dreamworld's parent company, Ardent Leisure (ASX:AAD) in a statement this morning.
...

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BILLABONG'S FANS SHOW THAT IT'S ALL ABOUT THE BRAND

BILLABONG'S FANS SHOW THAT IT'S ALL ABOUT THE BRAND

SURFWEAR retailer Billabong International (ASX:BBG) may still be struggling to return to profit, but its brand has been a winner on social media.

The Gold Coast-based company, which revealed tough retail conditions in the first few months of the current financial year, has managed to boost its social media following by 20 per cent over the pa...

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AMAZING RACE PUTS TOURISM WORKERS BACK IN TOUCH

AMAZING RACE PUTS TOURISM WORKERS BACK IN TOUCH

A NEW 'amazing race' style workshop designed for Gold Coast Tourism professionals has proven an important point prior to the Commonwealth Games: being a tourist in your own city is good for business. City of Gold Coast partnered up with Gold Coast Tourism to launch the Discover Gold Coast Challenge, a program designed for business...

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INFINITUS CHINA TO TAKE A RECORD $50 MILLION COAST HOLIDAY

INFINITUS CHINA TO TAKE A RECORD $50 MILLION COAST HOLIDAY

AROUND 8,000 international delegates will flock to the Gold Coast next May, as Chinese personal healthcare giant Infinitus hosts its holiday incentive program for top-performing employees. During their six-day stay, Infinitus delegates are pegged to inject a whopping $50 million into the local tourism economy, with the group representing ...

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SURFSTITCH FENDS OFF QUESTIONS FROM LITIGANT SHAREHOLDER

SURFSTITCH FENDS OFF QUESTIONS FROM LITIGANT SHAREHOLDER

ONLINE surf and action-wear retailer SurfStitch (ASX:SRF) kicked off its annual general meeting on the defensive this morning as chairman Sam Weiss fended off a series of questions raised by potential suitor and major shareholder Kim Sundell's Crown Financial group.

Weiss told shareholders at the Sydney meeting that Sundell had submitted ...

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DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD's Thunder River Rapids Ride, where four people died in October, will be permanently closed.

In a statement from Dreamworld owner Ardent Leisure (ASX: AAD), CEO and managing Director, Deborah Thomas, says the closure of the ride is the only respectful and appropriate course of action.

"Out of respect for the memories of ...

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POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE have concluded analysis of the scene at Dreamworld following the deaths of four tourists on a ride at the Coomera theme park last month.

The site has been returned to the control of its owners, Ardent Leisure, and ongoing investigations are now under the control of the Coroner.

The park has remained a crime scene during the past two...

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VULTURES CIRCLING SURFSTITCH AS ONE OFFER REJECTED

VULTURES CIRCLING SURFSTITCH AS ONE OFFER REJECTED

THE vultures have begun circling action sports online retailer SurfStitch (ASX:SRF) with the company today revealing it has rejected an unsolicited offer from a major shareholder as too weak for consideration. The Gold Coast-based company, which has seen its shares smashed over the past year following steep profit downgrades and a string ...

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WE'RE NOT DICING WITH CHINA, SAYS THE STAR

WE'RE NOT DICING WITH CHINA, SAYS THE STAR

THE Star Entertainment Group (ASX:SGR) has distanced itself from the problems faced by James Packer's Crown Resorts (ASX:CWN) in China despite revealing that it sources a quarter of gross revenue from VIP junkets out of Asia. Chairman John O'Neill, addressing Star shareholders at the AGM on the Gold Coast this morning, confronted ...

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NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

TERRY White and Chemmart will covert the 500-store network of the merged group to the new brand TerryWhite Chemmart.

The first rebranded store has opened at Glenferrie Road, Hawthorn; it is expected to take until the end of 2017 to convert the entire chain.

Terry White CEO, Anthony White, says, "Both brands have a strong heritage and ...

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AMBITION REMAINS AS SUNLAND PULLS $600M MARINER PLAN

AMBITION REMAINS AS SUNLAND PULLS $600M MARINER PLAN

SUNLAND Group (ASX: SDG) has withdrawn its proposed twin-tower development on The Spit after the City of Gold Coast earlier this month announced it was deferring a decision on the controversial proposal for at least 12 months.

However, the Brisbane-based property developer has not given up its ambitions for a major development of the Mar...

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FLIGHT CENTRE IGNITES LEISURE MARKET WITH ACQUISITION

FLIGHT CENTRE IGNITES LEISURE MARKET WITH ACQUISITION

FLIGHT Centre Travel Group (ASX:FLT) has invested in a Gold Coast-based travel retailer to bolster its presence in the leisure market. The Brisbane-based business acquired a 49 per cent stake in Ignite Travel Group, which specialises in curated holiday packages, travel vouchers and reward programs, for an undisclosed amount. 2012 Gold...

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SURFSTITCH SHARES HALVED AS LOSS HITS $155M

SURFSTITCH SHARES HALVED AS LOSS HITS $155M

ONLINE actions sports retailer SurfStitch (ASX:SRF) endured another day of pain on the stock market as its shares more than halved on news that its annual loss has blown out to $154.7 million. The FY16 result by the Gold Coast-based company, a former subsidiary of Billabong (ASX:BBG), has been impacted by $99.3 million in goodwill impairm...

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RAPTIS POSTS FIRST PROFIT IN ALMOST A DECADE

RAPTIS POSTS FIRST PROFIT IN ALMOST A DECADE

GOLD Coast developer Raptis Group (ASX) has scratched out its first annual profit in almost a decade after resuming development activities this year.

The company, which formerly spent eight years in the corporate wilderness under a deed of company arrangement with creditors, has posted a net profit of $55,146.

The lean result is a reflecti...

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RFG CAPS OFF BIG YEAR AS SHARES SURGE 65%

RFG CAPS OFF BIG YEAR AS SHARES SURGE 65%

RETAIL Food Group (ASX:RFG) shares gained further ground today as the company finished off a solid week with another record annual profit and an $88 million acquisition.

The shares edged 3 per cent higher to more than $6.60, bringing the Gold Coast-based franchise group's share gains over the past year to 65 per cent.

It has been a sha...

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THE STAR SYDNEY OFFSETS WEAKNESS IN QUEENSLAND

THE STAR SYDNEY OFFSETS WEAKNESS IN QUEENSLAND

STRONGER earnings from its flagship Sydney casino have offset a weaker performance in Queensland to help The Star Entertainment Group (ASX: SGR) boost net profit by 14.9 per cent to $194.4 million.

The Star Sydney (pictured) proved a magnet for both high rollers and domestic players in FY16, with gross revenue rising 7.5 per cent to $1.65 bil...

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PWR PROFIT RACES TO A STRONG FINISH

PWR PROFIT RACES TO A STRONG FINISH

PWR Holdings (ASX:PWH) has topped prospectus forecasts with a $10.76 million net profit for its first full year as a listed company.

The pro forma result is 2.9 per cent better than expected, as was the bottom-line profit of $8.75 million.

The pro forma profit effectively strips out the company's IPO costs of about $2.9 million from th...

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SUNLAND PLANS $100M FOODIES' HEARTLAND AT MERMAID

SUNLAND PLANS $100M FOODIES' HEARTLAND AT MERMAID

SUNLAND Group (ASX: SGD), inspired by an emerging food culture on the Gold Coast, has laid plans for a $100 million retail precinct to ignite a long-dormant development site at Mermaid Waters.

The Lanes, to be developed as part of its $850 million The Lakes project, will comprise 1.7ha waterfront precinct featuring urban laneways with caf&eac...

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BILLABONG STRUGGLES IN SEA OF RED

BILLABONG STRUGGLES IN SEA OF RED

BILLABONG (ASX: BBG) shares slid more than 10 per cent this morning as the company slipped back into the red.

The Gold Coast company, which also holds retailers Element and RVCA, continued its history of reporting losses to this time post a net loss after tax of $23.7 million.

More than two-thirds of the decline related to higher tax expen...

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IT'S EUREKA FOR EUREKA AS PROFIT CLIMBS 237%

IT'S EUREKA FOR EUREKA AS PROFIT CLIMBS 237%

SHARES in retirement village operator Eureka Group Holdings (ASX: EGH) have soared on the ASX today following a record profit result.

The Gold Coast company's share price rose more than 8.2 per cent to around 79c just before midday.

During the reporting period, Eureka acquired 13 new retirement villages for $43.49 million to become Aus...

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CHINESE SEND DREAMWORLD'S NUMBERS SPINNING

CHINESE SEND DREAMWORLD'S NUMBERS SPINNING

THE rising tide of Chinese tourists has bolstered Dreamworld's profit result over the past year, as the Gold Coast theme park owner Ardent Leisure (ASX:AAD) posted a 32 per cent rise in group net profit to $42.3 million.

The group profit was driven by a 16.3 per cent lift in revenue to $664.6 million.

Dreamworld contributed $107.5 mill...

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CBD HIT TAKES SHINE OFF MANTRA'S HOLIDAY FUN

CBD HIT TAKES SHINE OFF MANTRA'S HOLIDAY FUN

MANTRA Group (ASX: MTR) has been making the most of the domestic leisure market boom as the Gold Coast and North Queensland markets helped push Australia's second-largest accommodation provider's annual profit to $37.1 million.

However, weakness in some CBD markets tarnished an otherwise robust performance by the Surfers Paradise-base...

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HOTCOPPER FLOAT SLAMMED AS 'CRAZY'

HOTCOPPER FLOAT SLAMMED AS 'CRAZY'

CUDECO founder Wayne McCrae (pictured) has ripped into share market discussion board HotCopper ahead of its IPO, saying it would be 'crazy' and a 'joke' if the business was able to list.

Typical to form, the website will attempt the feat on September 8 in controversial circumstances: the company has no managing director a...

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BPS TECHNOLOGY FOCUSES ON A BIG YEAR AHEAD

BPS TECHNOLOGY FOCUSES ON A BIG YEAR AHEAD

HIGHER costs took some shine off BPS Technology's (ASX:BPS) record year of sales, but the company is forecasting a revenue surge in the current year following a 'transformative' acquisition this month.

The Gold Coast-based operator of the Bartercard trade exchange posted a net profit of $7.34 million, down 6 per cent from a year e...

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NEW BOSS AT ASX

NEW BOSS AT ASX

DOMINIC Stevens (pictured) is the new Managing Director and CEO of ASX.

Stevens, who joined the ASX (ASX:ASX) as an independent non-executive director in December 2013, begins his new role today.

He replaces Elmer Funke, who stepped down from the role in March after being subject to bribery allegations stemming from his time in char...

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CUDECO DELIVERS FIRST NATIVE COPPER TO PORT

CUDECO DELIVERS FIRST NATIVE COPPER TO PORT

CUDECO (ASX:CDU) has delivered the first truckload of copper from its Rocklands mine near Cloncurry to the Port of Townsville.

The 80 per cent pure native copper concentrate will be stored at the North Queensland port before being shipped to Zhapu Port, China under a previously reported offtake agreement with China Oceanwide Internationa...

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