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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BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The company is trading down 14.86 per cent at 11.32am (AEDT) at $10.45 per share in response to this guidance announcement this morning.

The company is expecting first-half constant-currency sales revenue growth of around 5 per cent a...

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VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths at Ardent Leisure's (ASX: AAD) Dreamworld.

While the company's Gold Coast theme parks, Wet'n'Wild and Warner Brothers Movie World, have maintained "solid" interstate and international visitor numbers in...

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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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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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ASIC LAYS CHARGES AGAINST FORMER LEIGHTON HOLDINGS EXECUTIVE PETER GREGG

ASIC LAYS CHARGES AGAINST FORMER LEIGHTON HOLDINGS EXECUTIVE PETER GREGG

PETER GREGG has been charged with violating the Corporations Act by ASIC in relation to his time as chief financial officer of Leighton Holdings (now CIMIC Group).

Gregg, who is currently managing director of ASX-listed Primary Health Care (ASX: PRY), denies the accusations, the company said today in a statement.

The Primary Health Care bo...

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$6 MILLION BLOW TO ARDENT LEISURE SINCE DREAMWORLD REOPENING

$6 MILLION BLOW TO ARDENT LEISURE SINCE DREAMWORLD REOPENING

ARDENT Leisure's (ASX: AAD) revenue has taken a $6 million hit since the reopening of Dreamworld and Whitewater World on December 10, six weeks after four died while on Dreamworld's Thunder River Rapids Ride.

The company reported a 63 per cent revenue drop for the period 10 December to 31 December compared to the corresponding period ...

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HILLS HOIST MOVING HOUSE IN THE WAKE OF MASTERS COLLAPSE

HILLS HOIST MOVING HOUSE IN THE WAKE OF MASTERS COLLAPSE

HILLS Limited (ASX: HIL), creator of the classic Aussie Hills Hoist clothesline, has decided to hang up its hat on homewares, deeming the sector no longer financially viable to pursue. AMES Australasia, the company responsible for brands including Cyclone, Nylex and Northcote Pottery, has now taken over the Hills home living business and ...

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ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

A MAJOR pending partnership between national airlines is under fire, as the Australian Competition and Consumer Commission (ACCC) proposes to deny its authorisation. The partnership in question, between Virgin Australia Airlines, Virgin Australia Regional Airlines (VARA) and Alliance Aviation Services (ASX: AQZ), proposes to give the airl...

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ARDENT LEISURE SELLS D'ALBORA MARINAS

ARDENT LEISURE SELLS D'ALBORA MARINAS

ARDENT Leisure (ASX:AAD) has sold its d'Albora Marinas portfolio for $126 million, an 11 per cent premium over the asset's book value of $113.5 million.

A joint venture between Sydney-based Balmain Corporation, and Goldman Sachs, was formed to buy the seven marinas, which are in Sydney, Melbourne and Newcastle.

Ardent Leisur...

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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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