Melbourne Articles

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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TEST DRIVE A POST GRAD AT BOND

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving' will help you figure that out quick smart.

Bond Business School is offering a Postgraduate Test Drive, for those who are curious, but not yet committed.

A test drive like none other, Bond Business School offers complimen...

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AUSTRALIA'S TALLEST TOWER APPROVED FOR SOUTHBANK

AUSTRALIA'S TALLEST TOWER APPROVED FOR SOUTHBANK

CROWN Resorts (ASX:CWN) and joint venture partner Schiavello Group have received planning approval to develop the $2 billion, 90-storey Queensbridge Hotel Tower at Melbourne's Southbank, which will be known as One Queensbridge.

At 323 metres tall, the six-star hotel, designed by London-based Wilkinson Eyre, will be Australia's tallest...

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ABACUS DOUBLES ITS MONEY ON WORLD TRADE CENTRE SALE

ABACUS DOUBLES ITS MONEY ON WORLD TRADE CENTRE SALE

MELBOURNE's World Trade Centre has sold for $267.5 million, having more than doubled in value since 2014.

Abacus Property Group (ASX:ABP), with joint venture partners KKR and Riverlee Group, has exchanged contracts for the sale of World Trade Centre in Melbourne CBD for $267.5 million.

Abacus and KKR purchased 70% of the property from ...

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FASHION RETAILER BUCKS THE TREND

FASHION RETAILER BUCKS THE TREND

MELBOURNE fast fashion retailer Premier Investments (ASX: PMV) has bucked the flagging retail sales trend and is expecting record first half sales.

The company owns Richmond headquartered The Just Group, which holds brands including Smiggle, Peter Alexander, Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. It also has a 25.7 per cent ...

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ALIBABA'S AUSTRALIAN 'GOLD MINE'

ALIBABA'S AUSTRALIAN 'GOLD MINE'

CHINA-based ecommerce giant Alibaba has launched its Australian and New Zealand headquarters in Melbourne.

The online marketplace, similar to eBay but esteemed as Amazon, takes in more than 12.7 billion orders a year from 430 million users.

Jack Ma, Alibaba group founder and executive chairman, was in Melbourne at the weekend to launch the...

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MASTERS LIQUIDATION PULLS DOWN DECEMBER RETAIL TRADE FIGURES

MASTERS LIQUIDATION PULLS DOWN DECEMBER RETAIL TRADE FIGURES

THE FIRESALE that marked the closure of the Masters brand has been blamed for pulling down retail trade figures for December. Retail turnover declined 0.1 per cent in December 2016 to $25.6 billion (seasonally adjusted) compared to November according to the latest Australian Bureau of Statistics retail trade report. Year on year, growth was ...

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BROO BUYS MILDURA BREWERY FOR $1 MILLION

BROO BUYS MILDURA BREWERY FOR $1 MILLION

BROO Limited (ASX: BEE) will acquire Victoria's Mildura Brewery for $1 million. The Mildura Brewery, located in the former Astor Theatre, is a locally operated beer production and brewery pub business in Mildura, Victoria, which has been in operation since December 2004. The Mildura Brewery was one of the first craft breweries and contr...

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BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

DESPITE a fall in BHP's copper output, the company announced today record production of 118 million tonnes of iron ore for the last six months of 2016, up four per cent from the previous year.

"We have performed well during a period of higher prices, with record iron ore volume achieved in Western Australia Iron Ore," says chief...

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REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE, the online marketplace for independent artists, will miss a series of forecasts set out in its IPO in its first-half results due late next month.

In unaudited market guidance released today, the company (ASX: RBL) says it will miss forecasts on gross transaction value, revenue, margins, profit, and operations expenditure.

Gross ...

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BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE Steel (ASX: BSL) is trading up 7.51 per cent at $11.16 per share after upgrading its half-year guidance this morning.

The company expects its underlying earnings before interest and taxt (EBIT) for the six months ended 31 December 2016 to be around $600 million, compared with prior guidance of $510 million.

The company puts this ...

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SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

FIERCE rivals Slater & Gordon (ASX: SGH) and Maurice Blackburn have secured funding for class actions against Bellamy's Organic (ASX: BAL) today.

Slater & Gordon will be funded by IMF Bentham (ASX: IMF), while Maurice Blackburn is working with the newly launched Investor Claim Partner (ICP). Both are investigating a case on b...

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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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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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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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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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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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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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