ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-based company (ASX: ORG) to focus on its energy markets business and a simplified integrated gas business.

The new business, NewCo, will include Origin's interests in a number of gas and oil projects, including:
Otw...

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BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

LUXURY vehicle brand BMW has agreed to pay its dues following a five-year string of lending failures which resulted in hardship for consumers. ASIC accepted an enforceable undertaking from BMW Finance, which will see the car dealer implement Australia's largest consumer credit remediation program to the tune of $77 million. The re...

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QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT Fund 5 is free to flex its muscles further in the gym market, after Australia's competition watchdog announced today that it wouldn't oppose the company's acquisition of the Fitness First Asia Pacific Group. As the owner of the Goodlife Health Clubs network and lead franchisor of Jetts Fitness, Quadrant set the market...

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REOPENING DATE SET FOR DREAMWORLD

REOPENING DATE SET FOR DREAMWORLD

DREAMWORLD will reopen on 10 December, six weeks after four people died on one of its rides - an incident that has so far cost the company $13.4 million.

The theme park will reopen as a mechanical and operational safety review nears completion, says Dreamworld's parent company, Ardent Leisure (ASX:AAD) in a statement this morning.
...

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2016 SYDNEY TOP COMPANIES REVEALED

2016 SYDNEY TOP COMPANIES REVEALED

SYDNEY'S top companies are among Australia's biggest companies, and their stories may be familiar to many. However, the past year has been particularly challenging for many amid a tepid global economic recovery that is fragile at best, and uncertain at the very least, due to the recent US presidential election. The striking fe...

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2016 SYDNEY TOP LISTED COMPANIES 1-10

2016 SYDNEY TOP LISTED COMPANIES 1-10

THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia. This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene.  The top 10 gives insight into the biggest and most iconic c...

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2016 SYDNEY TOP LISTED COMPANIES 11-20

2016 SYDNEY TOP LISTED COMPANIES 11-20

THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia. This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene. The next 10 companies continue to demonstrate Sydney's streng...

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2016 SYDNEY TOP LISTED COMPANIES 21-30

2016 SYDNEY TOP LISTED COMPANIES 21-30

THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia. This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene. The 21-30 list includes four real estate players, with materials,...

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2016 SYDNEY TOP LISTED COMPANIES 31-40

2016 SYDNEY TOP LISTED COMPANIES 31-40

THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia. This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene. The top 31-40 includes retailer Harvey Norman, superannuation beh...

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2016 SYDNEY TOP LISTED COMPANIES 41-50

2016 SYDNEY TOP LISTED COMPANIES 41-50

THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia. This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene. More finance companies round out the top 50, while a couple of me...

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TOM POTTER HAS SUPREME DOUBTS OVER NEW-LOOK PIZZA HUT

TOM POTTER HAS SUPREME DOUBTS OVER NEW-LOOK PIZZA HUT

EAGLE Boys founder Tom Potter (pictured) has predicted it will be "groundhog day" for the failed business rebranded as Pizza Hut.

Both pizza chains have been dominated by rival Domino's and Potter cannot see the situation changing, even merged under new owner Allegro Funds.

"Pizza Hut has run this business backwards for ...

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DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD's Thunder River Rapids Ride, where four people died in October, will be permanently closed.

In a statement from Dreamworld owner Ardent Leisure (ASX: AAD), CEO and managing Director, Deborah Thomas, says the closure of the ride is the only respectful and appropriate course of action.

"Out of respect for the memories of ...

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POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE have concluded analysis of the scene at Dreamworld following the deaths of four tourists on a ride at the Coomera theme park last month.

The site has been returned to the control of its owners, Ardent Leisure, and ongoing investigations are now under the control of the Coroner.

The park has remained a crime scene during the past two...

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BANK PROFITS STALL DUE TO LOW INTEREST RATES

BANK PROFITS STALL DUE TO LOW INTEREST RATES

COMMONWEALTH Bank (ASX: CBA) statutory net profit was up 4.26 per cent at $2.4 billion for the quarter ending 30 September, the company announced today.

The bank revealed its income growth was impacted by the low interest rate environment, a strengthening Australian Dollar and higher insurance claims.

Banking income growth was solid...

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UGL DIRECTORS BACK CIMIC TAKEOVER

UGL DIRECTORS BACK CIMIC TAKEOVER

ALL but one of the UGL Limited (ASX: UGL) directors have recommended shareholders accept CIMIC's (ASX: CIM) offer to buy the company for $3.15 per share.

Non-executive director Robert Kaye was the only dissenter from the five-person board, saying he does not believe the offer $534 million offer represents the fair underlying value of the ...

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INGHAM'S CHICKEN FLOAT FALLS FLAT

INGHAM'S CHICKEN FLOAT FALLS FLAT

INGHAM'S debut on the Australians Securities Exchange failed to enthuse investors today The company's shares began trading at 11 am AEST time at the revised price of $3.15. Amid a generally weak appetite by the market for initial public offerings (IPO) from larger cap companies, shares in Ingham fell by one cent at 11.15 am before...

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BAD LOANS HIT PROFIT AT WESTPAC

BAD LOANS HIT PROFIT AT WESTPAC

WESTPAC's full year results have been met warmly today, despite the bank reducing its return on equity target and suffering a 7 per cent drop in net profit to $7.445 billion.

The result comes at a challenging time for the banking sector due to low interest rates, increased political and regulatory scrutiny and uncertainty in the internati...

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FIVE CALTEX FRANCHISEES TERMINATED IN WAGE FRAUD INVESTIGATION

FIVE CALTEX FRANCHISEES TERMINATED IN WAGE FRAUD INVESTIGATION

CALTEX is working alongside Fair Work Australia to investigate allegations of wage fraud in its franchisee network.

In a statement released today, the company (ASX: CTX) condemned unlawful activity and revealed its own investigations had resulted in the termination of five franchisees in the past 12 months.

There are around 1,900 Caltex-br...

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WE'RE NOT DICING WITH CHINA, SAYS THE STAR

WE'RE NOT DICING WITH CHINA, SAYS THE STAR

THE Star Entertainment Group (ASX:SGR) has distanced itself from the problems faced by James Packer's Crown Resorts (ASX:CWN) in China despite revealing that it sources a quarter of gross revenue from VIP junkets out of Asia. Chairman John O'Neill, addressing Star shareholders at the AGM on the Gold Coast this morning, confronted ...

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VALDERAS TAKES THE REINS AT CIMIC GROUP

VALDERAS TAKES THE REINS AT CIMIC GROUP

CIMIC Group (ASX:CIM) announced today that Adolfo Valderas has been appointed as managing director of the company.  This follows Valderas' elevation from deputy executive officer to chief executive at CIMIC on 18 October.

The company noted that effective from 1 November, Valderas' total fixed remuneration comprising base sal...

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WOOLWORTHS' SALES BOUNCE BACK

WOOLWORTHS' SALES BOUNCE BACK

WOOLWORTHS showed its first sales growth in almost a year as its core supermarket sales rose by 0.7 per cent in the September quarter, finishing higher than market expectations.

Lower grocery prices and a focus on customer service have lured customers back into its stores. 

Woolworths (ASX:WOW) shares initially rose on the news...

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NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

TERRY White and Chemmart will covert the 500-store network of the merged group to the new brand TerryWhite Chemmart.

The first rebranded store has opened at Glenferrie Road, Hawthorn; it is expected to take until the end of 2017 to convert the entire chain.

Terry White CEO, Anthony White, says, "Both brands have a strong heritage and ...

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CALTEX CONFIRMS INTEREST IN WOOLWORTHS FUEL BUSINESS

CALTEX CONFIRMS INTEREST IN WOOLWORTHS FUEL BUSINESS

CALTEX (ASX: CTX) has confirmed it is interested in purchasing Woolworths' (ASX: WOW) fuel business.

In a release to the ASX today, Caltex says it has made a conditional and confidential proposal to Woolworths that will continue the brands' alliance that has existed since 2003.

Caltex is currently the exclusive supplier of p...

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WHITEHAVEN EXPECTS FURTHER GROWTH IN COAL PRICES

WHITEHAVEN EXPECTS FURTHER GROWTH IN COAL PRICES

THE unexpected recovery of coal prices will continue in December, says Whitehaven Coal (ASX: WHC).

Already, the price of Australian metallurgical coal has shot up to $102.88 per tonne in September, compared to $71.01 in April, according to Index Mundi.

In its September quarter results released today, Whitehaven says supply cuts in C...

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NEW GAS TRAIN COMES ONLINE AT CURTIS ISLAND

NEW GAS TRAIN COMES ONLINE AT CURTIS ISLAND

AUSTRALIA Pacific LNG has produced the maiden cargo from the second if its two 4.5 million tonnes per annum production trains on Curtis Island near Gladstone.

In 2021, Australia will equal Qatar as the largest exporter of LNG in the world and the Curtis Island plant, which is a joint venture between Origin Energy, ConocoPhillips and Sinopec i...

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UGL SHARES SURGE AFTER $524 MILLION CIMIC OFFER

UGL SHARES SURGE AFTER $524 MILLION CIMIC OFFER

CONSTRUCTION giant CIMIC has launched a $524 million takeover bid for rival engineering contractor UGL, seizing on the company's falling share price amidst the mining industry slump.

CIMIC (CIM) - which secured a 14 per cent stake in Sydney-based UGL (UGL) early Monday morning - announced it will make a final unconditional offer of $...

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SKYDIVE THE BEACH JUMPS INTO $15.45 MILLION RAGING THUNDER PURCHASE

SKYDIVE THE BEACH JUMPS INTO $15.45 MILLION RAGING THUNDER PURCHASE

SKYDIVE the Beach (ASX: SKB) has raised $18.98 million to purchase Raging Thunder Adventures through institutional investors as it pursues its goal to become the world's largest adventure tourism company.

The offer was at a price of $0.52 per share a discount of 10.3 per cent on the 27 September closing price. A total of 36 million new sh...

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WASHINGTON H. SOUL PATTINSON PROFITS SURGE ON INVESTMENT MIX

WASHINGTON H. SOUL PATTINSON PROFITS SURGE ON INVESTMENT MIX

A DIVERSE portfolio mix has paid dividends for Washington H. Soul Pattinson (WHSP), with the investment firm almost doubling full-year profits. The Sydney-based company posted a net profit of $149.4 million in the 12 months to July 31, up 79.3 per cent from a year earlier. WHSP has expanded beyond its traditional field of pharmacy, wi...

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LACK OF ORGANIC GROWTH ENDS TPG'S WINNING ASX RUN

LACK OF ORGANIC GROWTH ENDS TPG'S WINNING ASX RUN

TPG Communications (ASX: TPM) shares have dropped 6.7 per cent today, despite the company recording strong profit, EBITDA and earnings per share (EPS) growth in its annual report.

The Sydney-based company's purchase of iiNet nine months into the financial year had a solid impact on the final results, but investors are more concerned about...

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CHARTER HALL BUYS COLES HEAD OFFICE AND CAMPBELLTOWN MALL

CHARTER HALL BUYS COLES HEAD OFFICE AND CAMPBELLTOWN MALL

CHARTER Hall Group (ASX: CHC) has bought half of the Coles Melbourne head office the day after announcing its purchase of the Campbelltown Mall for $197 million in partnership with MTAA Super.

The Sydney-based company has put $70.25 million towards the $140.5 million off-market purchase of the Hawthorn East building, with the other half ...

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