SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close its US office as it expects its full-year loss to double. SurfStitch on Monday announced that weak apparel and footwear sales in its key markets, particularly in the UK, will drag it deeper into the red than the $5 million-$6.5...

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MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

IT'S BEEN 10 years in the planning and had at least 10 different architects and has involved the acquisition of multiple properties, and now the redevelopment of Melbourne's iconic Rialto tower precinct is almost complete.

The $200 million redevelopment has breathed new life into the CBD and the Rialto precinct covers more than 8...

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ORGANIC FAST FOOD CHAIN TO RAISE $15M IN IPO

ORGANIC FAST FOOD CHAIN TO RAISE $15M IN IPO

THE world's first organically certified fast food chain, Oliver's Real Food, has today opened its IPO.

The restaurant chain is hoping to raise $15 million in its first round of fund raising by issuing 50 million new shares at $0.30 per share.

Oliver's, which prides itself on being a healthy and organic alternative to traditiona...

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AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trading halt today to announce that it had successfully raised $12 million in a share placement with new institutional investors.

The placement received strong interest from both domestic and global companies, as cornerstone invest...

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ONLINE SCAMS TAKE $3.8 MILLION TOLL ON AUSSIE BUSINESSES

ONLINE SCAMS TAKE $3.8 MILLION TOLL ON AUSSIE BUSINESSES

AUSTRALIA's competition watchdog has revealed today that more than 6,000 businesses were attacked by online scams in 2016, as a result losing a combined $3.8 million.

In its Targeting Scams report, The Australian Competition and Consumer Commission (ACCC) found that losses incurred because of online scams increased by almost 31 per cent i...

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APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!media (ASX: OML) has been called off this morning, amid concerns the agreement would wash out competition in the out-of-home advertising industry.

The ACCC outlined its position earlier in the month that the merger would create...

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ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

FOLLOWING a warning to the market and a subsequent trading halt earlier in the week which has shaved more than $11 million from Oroton's (ASX: ORL) market value, analysts say the company's choices have essentially boiled down to two: sell its brands to an overseas buyer or quit the ASX altogether. Citi analysts are saying the comp...

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OROTON'S SHARE PRICE IN FREE FALL AFTER 'UNACCEPTABLE' PROFIT DOWNGRADE

OROTON'S SHARE PRICE IN FREE FALL AFTER 'UNACCEPTABLE' PROFIT DOWNGRADE

SHARES in fashion retailer Oroton (ASX: ORL) have plunged more than 20 per cent in today's trade after announcing its full year earnings will be down around $10 million on the previous year.

Oroton released its update before the market opened on Wednesday after requesting a trading halt on Monday ahead of the announcement, which interim C...

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OFFICEWORKS IPO WRITTEN OFF BY WESFARMERS DUE TO CHALLENGING RETAIL MARKET

OFFICEWORKS IPO WRITTEN OFF BY WESFARMERS DUE TO CHALLENGING RETAIL MARKET

RUMOURS surrounding the Officeworks IPO have proven to be true, as Wesfarmers confirmed this morning that its office supplies subsidiary will not float on the ASX.

In mid-February, Wesfarmers announced that it would be undertaking a strategic review of Officeworks and investigating its potential for an IPO.

However, in the face of a...

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40 YEARS OF PILLOW TALK: HOW IT SURVIVED IN A TOUGH RETAIL ENVIRONMENT

40 YEARS OF PILLOW TALK: HOW IT SURVIVED IN A TOUGH RETAIL ENVIRONMENT

It started as a tiny startup with five employees to become the "Bunnings" of the bedding industry, and Heath Goddard's bedding business may still be racking up milestones after 40 years, but he still isn't getting carried away.

"It's all rather irrelevant to me. I very rarely take a photograph of anything I've e...

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SLATER AND GORDON TO TAKE A SWING AT QUINDELL SELLERS FOR FRAUD

SLATER AND GORDON TO TAKE A SWING AT QUINDELL SELLERS FOR FRAUD

SLATER and Gordon's UK subsidiary has confirmed it will be taking action against Watchstone Group, the company responsible for selling Slater and Gordon (ASX: SGH) its professional services division Quindell in 2015. The embattled firm intends to sue Watchstone for fraud in the High Court of England and Wales for approximately £...

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QLD'S CHIEF ENTREPRENEUR ON CURRENT 'TSUNAMI' OF TALENT: MARK SOWERBY EXCLUSIVE INTERVIEW PART 1

QLD'S CHIEF ENTREPRENEUR ON CURRENT 'TSUNAMI' OF TALENT: MARK SOWERBY EXCLUSIVE INTERVIEW PART 1

HE SPENT a decade conceiving and building Blue Sky Alternative Investments (ASX: BLA) into an ASX top 300 company and when Mark Sowerby stood down as managing director in August 2016, he was looking to spend more time with his growing family after years of long hours away from home.

But he'd barely packed his cardboard box and said h...

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CROWN EXITS MACAU TO PAY DOWN DEBTS

CROWN EXITS MACAU TO PAY DOWN DEBTS

IT HAS been just over five months since Crown Resorts (ASX: CWN) offloaded a significant stake in Melco Resorts & Entertainment in Macau, and now James Packer's casino giant has announced it will be selling off its remaining interest in the company.

Crown Resorts subsidiary Crown Asia Investments (CAI) has entered into a repurchase ag...

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EVE DIPS INTO HEMP HONEY THROUGH LATEST ACQUISITION

EVE DIPS INTO HEMP HONEY THROUGH LATEST ACQUISITION

EVE Investments (ASX: EVE) has dipped into the honeypot buy a 50 per cent stake in tea tree and honey farmer Jenbrook for a total consideration of $1.49 million. The technology investment company entered into the agreement to acquire Jenbrook for its large asset base in organic essential oils, extracts and carrier oils, as well as its res...

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NEW LENDERS THROW SLATER AND GORDON ITS SECOND CAPITAL LIFELINE

NEW LENDERS THROW SLATER AND GORDON ITS SECOND CAPITAL LIFELINE

LENDERS have thrown Slater and Gordon (ASX: SGH) another lifeline in the form of a new $40 million working capital facility which will operate on a three-year term. The agreement was executedlate last week to give Slater and Gordon working capital headroom as the troubled firm climbs its way back to square one financially. This follow...

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CANNABIS COMPANY SHARES DOUBLE AFTER FIRST DAY OF TRADE

CANNABIS COMPANY SHARES DOUBLE AFTER FIRST DAY OF TRADE

MEDICAL cannabis company Cann Group Limited (ASX: CAN) based in Melbourne has made its debut on the ASX, after it successfully raised $13.5 million in a fully underwritten IPO. The agribusiness giant which breeds, cultivates and manufactures medicinal cannabis for sale and use in Australia issued 45 million new shares yesterday at $0.30 p...

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ACCC RAISES CONCERNS OVER APN MERGER WITH oOh!media

ACCC RAISES CONCERNS OVER APN MERGER WITH oOh!media

THE COMPETITION regulator has waved a warning flag at the proposed $1.6 billion merger between Australia's two biggest advertising groups APN (ASX: APO) and oOh!media (ASX: OML).

Australian Competition and Consumer Commission (ACCC) chairman Rod Sims says the proposed merger will create a market leader in out-of-home advertising in A...

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HOW NICK BELL BUILT AND SOLD A $39M COMPANY

HOW NICK BELL BUILT AND SOLD A $39M COMPANY

FROM humble beginnings in 2008 with just $400 to his name to a sale price of $39 million, Australian entrepreneur Nick Bell now has one of those classic "built-it-from-nothing" stories that are the envy of many in the business world.

He sold his digital marketing company, WME Group, to ASX listed Melbourne IT (ASX:MLB) as one of Aus...

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TABCORP AND TATTS MERGER HITS HURDLE AS ACCC VOICES CONCERNS

TABCORP AND TATTS MERGER HITS HURDLE AS ACCC VOICES CONCERNS

THE competition regulator has thrown doubt into the proposed takeover of Tatts (ASX: TTS) by Tabcorp (ASX:TAH), arguing that the claimed public benefits from the deal were "overstated".

In a report to the Australian Competition Tribunal, The Australian Competition and Consumer Commission (ACCC) says the merger will also result in le...

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TATTS GROUP REFUSES DUE DILIGENCE TO PACIFIC CONSORTIUM AFTER REVISED $6B OFFER

TATTS GROUP REFUSES DUE DILIGENCE TO PACIFIC CONSORTIUM AFTER REVISED $6B OFFER

TAKEOVER target Tatts Group (ASX: TTS) has rejected a revised all-cash $6 billion offer from the private equity group Pacific Consortium and will not grant due diligence or deal with them.

The Tatts board told shareholders that it had assessed the revised $4.21 per share bid from Pacific Consortium and decided it would not proceed with the de...

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ACCC TAKES ACTION AGAINST MURRAY GOULBURN

ACCC TAKES ACTION AGAINST MURRAY GOULBURN

THE ACCC has begun proceedings against milk processor Murray Goulburn alleging it contravened Australian Consumer Law after suddenly reducing prices last year.

The ACCC alleges Murray Goulburn engaged in unconscionable conduct and made false or misleading representations and has filed proceedings in the Federal Court.

It has also been alle...

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AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

SEVEN Melbourne CBD offices have recently sold for more than $11 million in total, demonstrating huge demand for central office space in the city.

Colliers International brokered deals for record sums on office spaces in the centre of Melbourne as demand for space increases.

Just last week, office spaces on Lonsdale Street and Colli...

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MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

A MELBOURNE shopping centre has been sold for $48 million, bringing the total spent by Chinese investors on Victorian retail to $380 million over the past 15 months.

The Arena Shopping Centre, in the south-east suburb of Officer, is positioned on a 2.97 hectare site and features 25 speciality retailers, including McDonald's and Woolw...

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SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

CLEANING and catering services company Spotless has rejected a $1.26 billion takeover bid from mining services firm Downer EDI, describing it as "hostile" and "highly conditional".

Spotless issued a statement to the ASX on Monday saying the $1.15 per share offer does not represent adequate value as it fails to reflect the ...

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'DIGITAL MONSTER' AMAZON CONFIRMS AUSTRALIAN EXPANSION

'DIGITAL MONSTER' AMAZON CONFIRMS AUSTRALIAN EXPANSION

ONLINE retail giant Amazon has finally confirmed the company is launching in Australia to take a major slice of the country's $300 billion sector, as Morgan Stanley warns local retailers they could "get the life squeezed out of them".

The rumour has been circulating for years and, in a brief statement, the company confirmed Amaz...

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CAR NEXT DOOR LAUNCHES IN BRISBANE AHEAD OF PLANS TO ROLL OUT ACROSS AUSTRALIA

CAR NEXT DOOR LAUNCHES IN BRISBANE AHEAD OF PLANS TO ROLL OUT ACROSS AUSTRALIA

PEER-TO-PEER car sharing startup Car Next Door has launched its Brisbane operation as part of its expansion plans into Australia's major cities.

CarNextDoor.com.au is an online platform that allows car owners to effectively rent their cars out to users as a way of making money on the idle capacity of their vehicles to people who need them...

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ANSELL LAUNCHES ANTI-HIV CONDOM INTO CANADA

ANSELL LAUNCHES ANTI-HIV CONDOM INTO CANADA

ANSELL (ASX: ANN) has teamed up with Melbourne pharmaceutical company Starpharma (ASX: SPL) to launch their anti-viral condom in the Canadian market.

The VitaGel condom, produced by Starpharma and launched under Ansell's LifeStyles brand, has been released already in Australia and will now be introduced into the Canadian market.

The Li...

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ADELAIDE TECH COMPANY SECURES $2.35M CONTRACT

ADELAIDE TECH COMPANY SECURES $2.35M CONTRACT

Adelaide based Alcidion Group Limited (ASX: ALC) has secured a $2.35m contract with Western Health to utilise Alcidion's tech in Victorian hospitals.

The agreement will incorporate Alcidion's iPad technology in public hospital facilities in the western suburbs of Melbourne along with the Footscray, Sunshine and Williamstown Hospitals,...

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WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's radar over the past six months. Recent legislative changes have allowed for importation of the drug and patient-specific sales, as government red tape and other legal barriers are being systematically lifted. The Narcotic Dru...

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FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordon, in regards to the Melbourne-based firm's alleged misconduct which led to its billion-dollar fall from grace. ACA has become the second firm to lay the foundations for a class action against Slater and Gordon, after Maur...

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