GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

THE QUEENSLAND Government has announced its latest plan to support Queensland-based businesses through the new 'Buy Queensland' initiative. The new plan, which will prioritise Queensland goods and services, will apply across all agencies, statutory bodies, and government owned corporations. The Queensland cabinet has agreed, i...

Read More...
MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT Limited (ASX: MP1) has seen its share price rise by almost two per cent following the announcement of strong results for the June 2017 quarter. The group, who delivers internet connectivity solutions to businesses, saw their revenue for the June quarter increase by 18 per cent compared to the previous quarter to $3.47 million. ...

Read More...
NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific Data Centre (ASX: AJD) after it launched a fully funded $1.85 a share cash offer for the company. The takeover bid trumps the offer made by 360 Capital to acquire all the securities in APDC for $1.80 per share. NEXTDC CEO ...

Read More...
SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent research suggests that cash doesn't always talk. A study, commissioned by specialised recruiter Robert Half surveying 160 chief financial officers in Australia, shows more than 94 per cent of Australian CFOs have extended cou...

Read More...
WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Hastings Management, a global infrastructure-assets business with funds under management of about $14.3 billion. Charter Hall is considering the purchase of Hastings following the completion of due diligence and regulatory ...

Read More...
ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

SMALL business owners have been urged to review their payment surcharges ahead of the ban on excessive payment surcharges in force 1st September. The ACCC recommends small businesses assess their current surcharge models before the law comes into force, which limits the amount a business can charge customers for use of EFTPOS, MasterCard,...

Read More...
CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

THE BANK LEVY imposed on the so-called 'Big Five' should be extended to include all government-licenced companies with a turnover of $1 billion or more, according to Yellow Brick Road executive chairman Mark Bouris.

Speaking at the launch of 2017 Gold Coast Queensland Small Business Week, Bouris also says the money raised should be us...

Read More...
BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

ANALYSTS say that the public infrastructure and construction industry has emerged among the clear winners from last Tuesday's budget, as BIS Oxford Economics forecasts imminent major growth across the sector. Funds allocated from the 2017 Federal Budget will help drive an estimated 30 per cent growth for the industry, which is already...

Read More...
BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

THE BANK of Queensland (ASX: BOQ) is expected to be a major beneficiary of the Federal Government's bank levy which was introduced in Tuesday's Budget. The Government levy will raise $1.5 billion a year over the next four years, or around five per cent of the profits from the so-called 'Big Four' which includes Commonwealt...

Read More...
SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie thanks to its main catastrophe program and the purchase of an additional cover.

As the category three cyclone intensifies and heads towards the north Queensland coast between Townsville and Mackay causing forced evacuations, th...

Read More...
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...

Read More...
WHY NEXTDC'S STOCK IS SOARING

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.

The Brisbane data centre company reported a revenue rise of 39 per cent to a company record of $58.7 million.

NEXTDC took in earnings before interest, taxes, depreciation and amortisation (EBITDA) of $23.9 million for th...

Read More...
EML'S EARNINGS SOAR

EML'S EARNINGS SOAR

EML Payments' (ASX: EML) earnings have soared 226 per cent for first half 2017.

The Brisbane payments provider took in $9.96 million in earnings before interest, taxes, depreciation and amortisation.  Depreciation in the Sterling relative to the Australian Dollar in fact lowered this result by $1 million.

EML generated 85 p...

Read More...
LJ HOOKER ESTABLISHES $100 MILLION REAL ESTATE STARTUP FUND

LJ HOOKER ESTABLISHES $100 MILLION REAL ESTATE STARTUP FUND

LJ Hooker has committed $100 million to establish a real estate startup incubator, the LJX-Lab. The digital research and development vehicle will foster innovation through identifying, incubating and commercialising home-grown 'proptech'.

It will also introduce new global best practices and technology to local markets to enri...

Read More...
CHINA INVESTMENT FLOWS COULD SLOW AFTER REGULATION CHANGED

CHINA INVESTMENT FLOWS COULD SLOW AFTER REGULATION CHANGED

CHINESE companies seeking outbound projects and Australian companies looking to secure Chinese outbound investment need to be aware of changes in the rules applying to foreign exchange remittances as these could impact their deal structures and timing, according to foreign investment experts from MinterEllison. Partners Chris Carr and Bi Che...

Read More...
BUDDY UP FOR COVER WITH NEW INSURANCE MODEL

BUDDY UP FOR COVER WITH NEW INSURANCE MODEL

A GERMAN peer-to-peer insurance platform is heading to Australia in a bid to make the industry more 'friendly'. Friendsurance, established in 2010, aims to make the process of finding an insurer more simple and affordable. Friendsurance Australia will be supported by the company's head office in Berlin, while Ellerston Cap...

Read More...
CASH CONVERTERS FORCED TO REPAY $11M ON LOANS

CASH CONVERTERS FORCED TO REPAY $11M ON LOANS

THE corporate watchdog has forced pay-day lender Cash Converters International (ASX:CCV) to repay borrowers $11 million after finding the company had failed to adequately assess the ability to repay loans. Cash Converters has been issued with an enforceable undertaking to refund consumers $10.8 million on about 118,000 loan contracts. It ...

Read More...
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...
RETAILERS TIPPED TO LOSE ON GRAND FINAL FRIDAY

RETAILERS TIPPED TO LOSE ON GRAND FINAL FRIDAY

AS the AFL grand final reaches fever pitch it won't be cause for celebration for many Victorian businesses, according to the Australian Retailers Association (ARA). The Victorian Government added Grand Final Friday as a public holiday last year to recognise the sporting event. ARA executive director Russell Zimmerman says many ret...

Read More...
ASIC DROPS CIVIL CASE AGAINST LM INVESTMENT DUO

ASIC DROPS CIVIL CASE AGAINST LM INVESTMENT DUO

TWO directors of failed Gold Coast funds manager LM Investment Management (LMIM) have been spared further proceedings by the corporate watchdog after it dropped a civil action against them. However, the Australian Securities and Investments Commission is still pursuing the matter against three others, including former CEO Peter Drake (pic...

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...
SLATER AND GORDON TARGETS UK COMPANY FOR $86M

SLATER AND GORDON TARGETS UK COMPANY FOR $86M

SLATER and Gordon (ASX:SGH) plans to sue the UK company behind the acquisition that triggered the law firm's ASX downfall. The Melbourne-based law firm plans to bring claims against Watchstone Group Plc, formerly known as Quindell Plc, for the $1.3 billion purchase of its professional services division last year. In a statement to...

Read More...
SYDNEY APPRENTICE SHORT-CHANGED ALMOST $25,000

SYDNEY APPRENTICE SHORT-CHANGED ALMOST $25,000

AN APPRENTICE floor layer has been back-paid almost $25,000 by a western Sydney business, following an investigation by the Fair Work Ombudsman. Pampost Pty Ltd, trading as Bass Floor Company in Guildford West, paid the full-time adult apprentice at junior rates over two years. The company also kept tool allowances in a fund for emplo...

Read More...
SPIKE IN JOB ADS SUGGESTS MARKET ON THE MEND

SPIKE IN JOB ADS SUGGESTS MARKET ON THE MEND

FOLLOWING a rocky end to the financial year, the employment market has once again a boost as ANZ economists reveal a jump in the number of job listings posted nationally in August. Job advertisements bounced a solid 1.8 per cent to more than 160,000, despite a steep drop recorded for the previous month of July. While this slump may ha...

Read More...
AUSTRALIA, TIME TO GET REAL ABOUT TOUGH TIMES

AUSTRALIA, TIME TO GET REAL ABOUT TOUGH TIMES

THE European banking crisis remains a ticking time bomb and Australians need a reality check if they are to cope with another global financial crisis, according to former Commonwealth Bank CEO David Murray (pictured). The seasoned corporate executive, who chaired the federal government's inquiry into the banking system in 2014, has al...

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...
FORECASTER SEES THREE MORE YEARS OF PAIN

FORECASTER SEES THREE MORE YEARS OF PAIN

IF YOU thought the last couple of years were tough then get used to it, says BIS Shrapnel. The economic forecaster is tipping Australia's economic growth to weaken each year over the next three years, buffeted by a stubbornly high dollar and continued structural change in the economy. BIS Shrapnel's Long Term Forecasts: 2016-2...

Read More...
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...

Read More...
RAMSAY SHARES PEAK ON HEALTHY PROFIT

RAMSAY SHARES PEAK ON HEALTHY PROFIT

RAMSAY Health Care (ASX: RHC) shares were given a tonic today as the company reported a 16.8 per cent surge in net profit to $481.4 million. The latest result was aided by a suite of acquisitions and expansions across the private hospital operator's international portfolio. This led to an 11.6 per cent increase in EBIT (earnings b...

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...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter