Melbourne Articles

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussions with lenders to restabilise its battered capital structure.

Following a gruelling saga, Slater and Gordon has now been notified that in excess of 94 per cent of its debt facility, including debt with Westpac, National Austral...

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FROM GREEN TO GOLD: IRISH EXPAT BUILDS MILLION DOLLAR BUSINESS

FROM GREEN TO GOLD: IRISH EXPAT BUILDS MILLION DOLLAR BUSINESS

WHEN Eoin Daniels arrived in Australia with nothing but a suitcase, a working holiday visa and a passion for carpentry, he didn't expect that in just over a decade's time he would be running his own national company. Around 13 years ago, Daniels was fresh off the plane from Ireland when he secured his first job in Sydney with a lo...

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MYER GROWS PROFIT AMID STRONG COMPETITION AND CONSUMER FATIGUE

MYER GROWS PROFIT AMID STRONG COMPETITION AND CONSUMER FATIGUE

MYER'S half-year sales announced today have been described as "encouraging" by CEO and MD, Richard Umbers, but the retailer's shares fell 5.26 per cent on the ASX.

The market was unimpressed by a 5.3 per cent growth in profit to $62.8 million, compared to the previous corresponding period, as the company's sales dec...

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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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HOW INTEGRATED SOFTWARE, THE CLOUD AND ARTIFICIAL INTELLIGENCE WILL CHANGE BUSINESS

HOW INTEGRATED SOFTWARE, THE CLOUD AND ARTIFICIAL INTELLIGENCE WILL CHANGE BUSINESS

CHATBOTS, collective intelligence and blockchain are some of the big technology trends that will change the way businesses are run in 2017, says SAGE Australia VP Alan Osrin (pictured).

Speaking to Business News Australia at the SAGE Summit Melbourne, where the company painted its vision of 'invisible accounting', Osrin implored busin...

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GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offshore manufacturing.

"We never thought that after 108 years of making bricks in Australia, we would now need to investigate manufacturing overseas," says Millner.

Millner says Brickworks' recent gas contract neg...

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CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost half of the total capital transacted during 2016. Last year around US$28.2 billion flowed in from Chinese investors who were seeking a slice of Aussie property, often in the form of Melbourne and Sydney's CBD office assets....

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SPECIAL FORCES PERSONNEL REVEAL HOW TO STAY SAFE WHEN TRAVELLING

SPECIAL FORCES PERSONNEL REVEAL HOW TO STAY SAFE WHEN TRAVELLING

YOU'VE seen it in the movies: the lone wanderer mugged in the alleyway, the family member taken hostage for ransom or the business person extorted for money at gunpoint. While it's easy to adopt the mentality that 'it will never happen to me', statistically speaking, this is far from the truth when it comes to not just hig...

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JANINE ALLIS' SPECIAL BLEND TO BOOST SUCCESS

JANINE ALLIS' SPECIAL BLEND TO BOOST SUCCESS

BOOST Juice founder Janine Allis spent some time 'winging it' before building a world-class business.

Born in the 'burbs and from humble beginnings, Allis (pictured) partied with rock stars in her twenties in the south of France before finding her calling.

Across almost two decades in business, Allis has just survived, a...

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BE TENACIOUS, BE WISE: KATE MIDDLETON'S TOP CAREER TIPS

BE TENACIOUS, BE WISE: KATE MIDDLETON'S TOP CAREER TIPS

KATE Middleton knows a thing or two about slaying career goals, having become CEO of insurance engineering firm Censeo at age 36.

In celebration of International Women's Day, Kate has shared her top three tips to take ownership of your career to get where you want to be. Be tenacious Tenacity, persistence, determination and p...

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RBA KEEPS CASH RATE ON HOLD AT 1.5 PER CENT

RBA KEEPS CASH RATE ON HOLD AT 1.5 PER CENT

FOR THE seventh consecutive month, the Reserve Bank of Australia (RBA) has decided to leave the official cash rate on hold at 1.5 per cent.

Inflation remains below the official target of 2 per cent and "quite low" according to the RBA, and with growth in labour costs remaining subdued, underlying inflation is expected to stay low fo...

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VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

HOUSING developer Villa World (ASX:VLW) has bought a 42 hectare site at Clyde, south east of Melbourne, for $33 million, adding to its growing portfolio in Victoria.

Villa World CEO and managing director, Craig Treasure, says he considers the Melbourne market to be strong right now, buoyed by population growth.

The state's new first ho...

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KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and quick to take on board new insights.

It's what Koplovitz looks for in candidates for the female focused scale-up incubator she founded, Springboard Enterprises, which has mentored 642 entrepreneurs since the year 2000.

...

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SONAND TURNS THE TIDE AT SURFSTITCH

SONAND TURNS THE TIDE AT SURFSTITCH

SURFSTITCH (ASX:SRF) has reduced its losses in the first half of FY17 as new CEO Mike Sonand executed his turnaround strategy.

In his first full half in charge of the Gold Coast-based action sports electronic retailer, Sonand reduced losses from continuing operations to $5.6 million, compared to $13.6 million the previous corresponding period...

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EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA Group has collected the gains on its 'buy and build' strategy to achieve a net profit of $6.29 million, up 72 per cent on the prior corresponding period (pcp).

The company's acquisition of 483 new freehold units helped boost total income to $15.56 million, a $9.47 million increase over pcp.

Earnings before interes...

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FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

IN the thick of takeover talks, Specialty Fashion Group (ASX: SFH) worked hard to cut costs and see its bottom line benefit for the half year to December.

The owner-operator of brands including Rivers, Katies, Crossroads and Millers welcomed a profit rise to $12.1 million, an increase of 36.8 per cent on the $8.8 million achieved in the ...

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LOSSES MOUNT AT SLATER AND GORDON

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The company today announced a $425.1 million loss for the six months to 31 December 2016, which follows a $958.3 million loss in the previous corresponding period. On the ASX, Slater and Gordon closed down 22 per cent at $0.125 per sha...

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HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so too is its driver: education.

But it's not the online education revolution you might think. As industry insiders speculate online education and course delivery will be the way of the future, Melbourne startup training.co...

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SLATER AND GORDON FILES CLASS ACTION AGAINST BELLAMY'S

SLATER AND GORDON FILES CLASS ACTION AGAINST BELLAMY'S

SLATER AND GORDON (ASX:SGH), with funding from IMF Bentham (ASX:IMF), has filed its class action against Bellamy's Organic (ASX:BAL) in the Federal Court of Australia.

The action was filed on behalf of all investors who acquired shares in the company between 14 April 2016 and 9 December 2016.

It alleges that Bellamy's made m...

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EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your business.

The promise of faster, more reliable internet will allow businesses to entirely operate from the cloud, eliminate geographic borders, use flexible working strategies for better productivity, and integrate their commu...

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AGENT EXITS, LOW LISTINGS HURT MCGRATH

AGENT EXITS, LOW LISTINGS HURT MCGRATH

PROFITS have dived 72 per cent at real estate group McGrath (ASX:MEA) to $2.4 milllion on the back of low property listings.

Listings with company-owned offices were down 20 per cent in the half year, and there's been an exodus of agents, which has dampened sales results.

McGrath speculates Australians have been put off selling ...

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CROWN RESORTS TAKES PROFIT HIT AND LOSES CEO, BUT TRADING UP ON THE ASX

CROWN RESORTS TAKES PROFIT HIT AND LOSES CEO, BUT TRADING UP ON THE ASX

CROWN Resorts' (ASX: CWN) profit has dropped 9.1 per cent in the half year to 31 December, as VIP earning plummeted.

The normalised profit after tax figure stood at $191.3 million, which is an adjusted amount 'excluding the impact of any variance from theoretical win rate' on VIP win play and significant items.

Australia...

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AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch of a wet spinning line at Deakin University's Waurn Ponds campus, outside of Geelong.

The university worked alongside the CSIRO and an Italian manufacturer to develop the machine, which was considered the "missing lin...

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BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY Bunting has grown sales 18.1 per cent to $135.1 million in the first half of FY17, sweetened by the opening of its 40th store nationwide and strong performance through its online channels. The baby goods retailer (ASX:BBN) posted a pro forma net profit after tax (NPAT) of $5.7 million for the 27-week period ending 1 January 2017, up ...

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SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER and Gordon (ASX:SGH) is at the mercy of its bankers as it seeks to recapitalise its debt, which is worth more than the entire company.

In a trading update released today, Slater and Gordon says its troubled UK business is recovering more slowly than expected and may be subject to a further write down.

Meanwhile, revenue at its Austr...

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WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent premium over the ASX200, a new index has found. The Employee Ownership Australian Index (EOAI) reveals that companies which are at least 30 per cent owned by employees tend to have better environmental, social and governance stand...

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HOW TO CREATE COMPETITIVE ADVANTAGE THROUGH A DIGITAL STRATEGY

HOW TO CREATE COMPETITIVE ADVANTAGE THROUGH A DIGITAL STRATEGY

WHEN Adam Laurie and Robert Dalessandro (pictured) bought wastewater treatment business Cleanawater in 2011, they had to Google what its products were and how they worked.

The Digital360 founders knew nothing about the business, but that was part of the plan because Cleanawater was a living, working case study into how digital technology coul...

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RISE OF THE MACHINES HAS WORKERS SWEATING

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown.

Airtasker's 2017 Future of Work study revealed that around 16 per cent of Australians believe their current role will be made redundant by a machine within the next five years, with 71 per cent of the population believing ...

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JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI has delivered record sales and earnings for the half year to 31 December, in what group CEO, Richard Murray (pictured), says has rounded out a strong 12 months for the company in Australia.

Total sales are up 23.6% on the prior corresponding period (pcp) to $2.6 billion, underlying EBIT is up 30.9% to $180.8 million, underlying NPAT ...

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LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector's priorities says Australian Small Business and Family Enterprise ombudsman (ASBFEO) Kate Carnell.

Carnell wants action on issues such as business tax cuts, competition reform, unfair contracts, government procurement ...

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