Sydney Articles

CAIRNS COUPLE DIVE INTO THE SHARK TANK AND CONVINCE FELLOW 'BOATIE' GLEN RICHARDS TO WORK WITH THEM

CAIRNS COUPLE DIVE INTO THE SHARK TANK AND CONVINCE FELLOW 'BOATIE' GLEN RICHARDS TO WORK WITH THEM

THEY'RE a husband and wife team with an invention that can help save the Great Barrier Reef, and lives, and Peter and Margaret Powell convinced fellow 'boatie' and Shark Tank 'shark' Glen Richards to take the plunge with them on their business journey.

Peter and Margaret have been married for 30 years and the couple f...

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AFTERPAY MERGER WITH TOUCHCORP GIVEN THE GO-AHEAD BY FEDERAL COURT

AFTERPAY MERGER WITH TOUCHCORP GIVEN THE GO-AHEAD BY FEDERAL COURT

AFTERPAY Holdings Limited (ASX: AFY) has been given the green light by the Federal Court for its merger with Touchcorp Limited (ASX:TCH) which will create a new entity on the ASX.

The court approved the scheme of arrangement between Afterpay and its shareholders, part of the overall merger between Afterpay and Touchcorp under a new holdi...

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DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI Limited (ASX: DOW) now holds more than 50 per cent of Spotless Group Holdings Limited's (ASX: SPO) shares, edging it closer to completing its hostile takeover of the cleaning company.

As of this morning, engineering group Downer owns 50.3 per cent of Spotless shares, meaning Downer is now the majority shareholder.

In an ASX ...

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AVEO GROUP TO BUY BACK SHARES FOLLOWING MEDIA INVESTIGATION

AVEO GROUP TO BUY BACK SHARES FOLLOWING MEDIA INVESTIGATION

FOLLOWING last night's Four Corners report which revealed accusations against Aveo Group (ASX: AOG) of financially mistreating its elderly residents, the aged care provider today announced it will launch a share buy-back scheme upon the consent of lenders. Aveo intends to conduct an on-market buy-back of as many as 54 million ordinary...

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STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also indicated there are several interested buyers.

Ten's main lender, the Commonwealth Bank, is set to appoint a receiver who could still look at sale options for the broadcaster following the first meeting of the creditors of the...

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METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ian Morrice will step down from the role in 2018.

The company, which owns retail businesses IGA and Foodland and is a wholesaler and distributor, reported its net profit had fallen to $171.9 million for the year to April 30 but r...

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SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has responded to the allegations.

On the ASX this morning, Aveo Group (ASX: AOG) publicly answered a total of 29 questions it was asked by the ABC's Four Corners and Fairfax during the news organisations' joint investigation which...

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CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE ed-tech company Retech Technologies (ASX: RTE) has listed on the ASX after raising $17.9 million from its IPO, as it looks to expand its education products through Australia.

As one of the largest online corporate training providers in China, a country with a population of 1.4 billion people, it may seem odd for Retech to single out A...

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COLLINS FOODS GOBBLES UP MORE AUSSIE KFC STORES

COLLINS FOODS GOBBLES UP MORE AUSSIE KFC STORES

COLLINS Foods Limited (ASX: CKF) has purchased 28 KFC restaurants from Yum! Brands Inc for $110.2 million, adding further to its growing portfolio of 223 KFC stores nationwide.

The sale was funded by a fully underwritten entitlement offer of $44.1 million, as well as new debt facilities totalling $69.3 million.

Of the 28 KFC restaurants, 1...

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BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play two high profile games in Melbourne and the Gold Coast next month.

China will play NBL clubs Melbourne United and the Brisbane Bullets on July 16 and 18 respectively, as something of a preview to the start of the NBL 2017-18 sea...

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DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, according to the latest National Visitor Survey (NVS).

Spending by Australians rose by $3.7 billion which is an increase of six per cent compared to the 2015-16 period.

The record level of domestic travel spending is in line wi...

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THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers and a trio of doctors has landed a $500,000 investment for a 10 per cent stake in their new business.

Their aim is to take CancerAid and turn it into a global enterprise and they now have a chance to achieve that after secur...

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IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one of the major shareholder class actions it has been backing since February.

Pending the court's approval, IMF announced it will withdraw its funding of William Roberts Lawyers' class action against Spotless Group (ASX: SP...

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WAGERING GIANTS TABCORP AND TATTS GIVEN GREEN LIGHT FOR $11B MERGER

WAGERING GIANTS TABCORP AND TATTS GIVEN GREEN LIGHT FOR $11B MERGER

THE Competition Tribunal has approved Tabcorp's (ASX: TAH) $11bn takeover bid for Tatts (ASX: TTS) on the condition that it must divest its Odyssey gaming business in Queensland.

The announcement was made this morning after weeks of hearings and was delivered by Federal Court judge John Middleton.

Tabcorp applied to the tribunal for ap...

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MEET THE GUYS BRINGING NATURALLY SUGAR-FREE SOFT DRINK TO A DOMINO'S NEAR YOU

MEET THE GUYS BRINGING NATURALLY SUGAR-FREE SOFT DRINK TO A DOMINO'S NEAR YOU

WHEN Troy Douglas and Drew Bilbe began their beverage company six years ago, with naturally sugar free products at its core, they probably didn't expect one of Australia's biggest fast food companies to come knocking at their door.

The guys who founded Nexba have partnered with Domino's (ASX: SMP), Australia's first publicly l...

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SHARK ANDREW BANKS ON WHY AUSTRALIAN STARTUPS NEED TO GET A BIT OF AMERICAN ATTITUDE

SHARK ANDREW BANKS ON WHY AUSTRALIAN STARTUPS NEED TO GET A BIT OF AMERICAN ATTITUDE

HE'S a former thespian who borrowed $5,000 on two credit cards to get his first business off the ground in Sydney's Woolloomooloo, and went on to establish two of the world's biggest recruitment companies employing thousands of people.

Now based in the exclusive suburb of Beverly Hills in Los Angeles, Andrew Banks is well placed t...

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BUBS AUSTRALIA BOOSTS CHINESE PRESENCE, SHARES SURGE MORE THAN 13 PER CENT

BUBS AUSTRALIA BOOSTS CHINESE PRESENCE, SHARES SURGE MORE THAN 13 PER CENT

BUBS Australia Limited (ASX: BUB) has expanded its footprint in China after signing a strategic partnership with NetEase Kaola.com which will give it access to up to 15 million potential new customers

The infant formula and organic baby food producer will sell its range on Kaola's cross-border e-commerce platform and the announcement sent...

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SPOTLESS SHARES HOLD FIRM IN FACE OF ACCELERATED TAKEOVER BID BY DOWNER EDI

SPOTLESS SHARES HOLD FIRM IN FACE OF ACCELERATED TAKEOVER BID BY DOWNER EDI

ENGINEERING and maintenance firm Downer EDI (ASX: DOW) has waived all remaining outstanding defeating conditions to its takeover offer of facilities service provider Spotless Group (ASX: SPO).

The takeover offer of Spotless is now unconditional, despite not having reached the 50 per cent acceptance hurdle announced last week, and it also intr...

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CLASS ACTION TO BE LAUNCHED AGAINST MCMILLAN SHAKESPEARE OVER 'WORTHLESS' VEHICLE WARRANTIES

CLASS ACTION TO BE LAUNCHED AGAINST MCMILLAN SHAKESPEARE OVER 'WORTHLESS' VEHICLE WARRANTIES

AN $80 million class action will be launched against McMillan Shakespeare Group (ASX: MMS) over claims it issued "worthless" warranties to tens of thousands of customers who bought used cars and trucks from the company.

Global litigation funder Vannin Capital has engaged leading law firm Quinn Emanuel Urquhart and Sullivan to file t...

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RICHARDS LOOKING FOR SCALEUP POTENTIAL IN NEXT SHARK TANK CLASS

RICHARDS LOOKING FOR SCALEUP POTENTIAL IN NEXT SHARK TANK CLASS

DR GLEN Richards (pictured) is circling the waters for his next big investment as season three of Shark Tank goes to air.

Founder of pet care powerhouse, Greencross, and one of the show's five big-time business "sharks", Richards says he'll be looking for innovative products or services with the potential to take the gl...

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AFTERPAY CEO ON THE UPS AND DOWNS OF STARTING UP AND WHY YOU NEED TO 'RUN THROUGH WALLS'

AFTERPAY CEO ON THE UPS AND DOWNS OF STARTING UP AND WHY YOU NEED TO 'RUN THROUGH WALLS'

WHILE at University, Nick Molnar was the biggest seller of jewellery on eBay in Australia. No easy feat, considering the site is the most popular online shopping destination in the country, with jewellery being one of the biggest sellers.

Molnar, now 27, runs one of Australia's fastest growing businesses and was named one of Forbes' 3...

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CHINESE DEMAND DRIVES A2 MILK COMPANY REVENUE UP NEARLY $20 MILLION

CHINESE DEMAND DRIVES A2 MILK COMPANY REVENUE UP NEARLY $20 MILLION

THE a2 Milk Company (ASX: A2M) has upgraded its full year outlook on revenue to approximately $517 million for the 2017 financial year thanks to a steep increase in Chinese demand.

The increase in forecast revenue of almost $19 million is driven by high levels of Chinese demand for the popular a2 Platinum infant formula.

To meet demand a2 ...

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DOWNER RAMPS UP HOSTILE TAKEOVER OF SPOTLESS, TAKING A 30 PER CENT STAKE IN ITS TARGET

DOWNER RAMPS UP HOSTILE TAKEOVER OF SPOTLESS, TAKING A 30 PER CENT STAKE IN ITS TARGET

ENGINEERING and maintenance firm Downer EDI (ASX: DOW) has lifted its interest in takeover target Spotless Group (ASX: SPO) to nearly 30 per cent as Spotless tells its shareholders yet again to reject Downer's offer.

Downer ramped up its hostile takeover bid on Thursday and says it now has an interest of around 29.6 per cent in facilities...

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SLATER AND GORDON TAKES AIM AT QUINDELL AS SECOND CLASS ACTION LOOMS

SLATER AND GORDON TAKES AIM AT QUINDELL AS SECOND CLASS ACTION LOOMS

SLATER and Gordon (ASX: SGH) has filed a lawsuit against UK-based Watchstone Group concerning the ill-fated sale of its subsidiary Quindell in 2015, a transaction which ended up wiping more than $1 billion from SGH's total market value.

The Melbourne-based firm is suing Watchstone in the High Court of England and Wales, alleging that the ...

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SHARK TANK'S NAOMI SIMSON REVEALS THE FIRST QUESTION SHE ASKS OF STARTUP ENTREPRENEURS

SHARK TANK'S NAOMI SIMSON REVEALS THE FIRST QUESTION SHE ASKS OF STARTUP ENTREPRENEURS

SHE'S a keen investor and supporter of the startup community in Australia and RedBalloon founder Naomi Simson remains passionate, and very direct, when it comes to identifying business talent and providing advice.

Is it the business idea itself that gives someone the impetus for success, or is it a tech innovation or disruptive conce...

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BELLAMY'S TRANSFORMATION BEGINS WITH FIRST ROUND OF CAPITAL RAISING

BELLAMY'S TRANSFORMATION BEGINS WITH FIRST ROUND OF CAPITAL RAISING

INFANT milk formula supplier Bellamy's (ASX: BAL) has generated $14.3 million from the institutional component of its capital raising, as it begins a major overhaul of its operations.

Bellamy's says there has been a 96 per cent take-up rate for the initial stage of the 5-for-38 entitlement offer which closed yesterday, with the retail...

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BILLIONAIRES LACHLAN MURDOCH AND BRUCE GORDON JOIN FORCES AS FUTURE OF TEN REMAINS IN DOUBT

BILLIONAIRES LACHLAN MURDOCH AND BRUCE GORDON JOIN FORCES AS FUTURE OF TEN REMAINS IN DOUBT

BILLIONAIRES Lachlan Murdoch and Bruce Gordon have joined forces and merged their holdings in the Ten Network (ASX: TEN) in a move that could rescue the struggling broadcaster and place it under their control.

Bruce Gordon's investment vehicle Birketu, which holds 15 per cent of shares, announced it would merge its holdings with Lachlan M...

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ARDENT FACING BOARD SHAKE DOWN AS ACTIVIST INVESTORS MAKE THEIR MOVE

ARDENT FACING BOARD SHAKE DOWN AS ACTIVIST INVESTORS MAKE THEIR MOVE

ARIADNE Australia, the largest securityholder of Ardent Leisure Group (ASX: AAD), has called for the removal of Ardent directors.

Ariadne announced this afternoon that they have given notice to Ardent of their intention to call and arrange an extraordinary general meeting of Ardent Leisure shareholders to move resolutions removing current dir...

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NETWORK TEN GOES INTO ADMINISTRATION AFTER BILLIONAIRES BAIL ON FUNDING LOAN

NETWORK TEN GOES INTO ADMINISTRATION AFTER BILLIONAIRES BAIL ON FUNDING LOAN

BREAKING: Network Ten has announced it will go into voluntary administration after failing to secure a key loan from its three billionaire investors Lachlan Murdoch, James Packer and Bruce Gordon. Shares in Ten Network Holdings (ASX: TEN) were placed in a trading halt on Tuesday for up to 48 hours after the company confirmed it had receiv...

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CAR RENTAL COMPARISON COMPANY DOES DEAL WITH TIGERAIR AUSTRALIA

CAR RENTAL COMPARISON COMPANY DOES DEAL WITH TIGERAIR AUSTRALIA

VROOMVROOVROOM has linked up with Tigerair Australia to provide deals for its customers at the airline's 13 main airport destinations around the country.

The deal between the online car rental comparison company and the low-cost carrier will allow customers to book their airfare and car rental together on the Tigerair Australia website in...

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