Business News Australia reports on business news, trends, and profiles for Adelaide business owners, executives and entrepreneurs.

API offers $727 million for rival Sigma Healthcare

API offers $727 million for rival Sigma Healthcare

Australian Pharmaceutical Industries (ASX: API) has offered its rival Sigma Healthcare (ASX: SIG) $727 million to buy the entire business. API is hoping to consolidate its position in the face of increased regulatory processes and a more competitive market. The $727 million takeover represents a premium of 69.4 per cent ot Sigma's...

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Tomas Steenackers crowned Australian Young Entrepreneur of the Year 2018

Tomas Steenackers crowned Australian Young Entrepreneur of the Year 2018

The nation's leading businesspeople aged under 40 gathered on the Gold Coast for a night of revelry and recognition, but there could be only one outright Australian Young Entrepreneur of the Year 2018. After Business News Australia staff scoured the country for Australia's most enterprising young business minds across 19 different...

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Have franchisors killed franchising?

Have franchisors killed franchising?

Unethical franchisors have led the franchising industry to the point it may no longer be a viable business model. The newly formed Australian Association of Franchisees (AAF), are calling for this conduct to stop and for new legal foundations to underpin the industry for the sake of the ethical franchisors and all franchisees. The Parliam...

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ACCC puts TPG-Vodafone merger in doubt

ACCC puts TPG-Vodafone merger in doubt

The competition regulator says the merger would take away TPG Telecom's (ASX:TPG) incentive for aggressive pricing strategies to offer cheap mobile plans and large data allowances. A merger to form a $15 billion telecommunications powerhouse between TPG Telecom and Vodafone Hutchison Australia has been called into question by the Aust...

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Smart vape breakthrough for cannabis tech LifeSpot Health

Smart vape breakthrough for cannabis tech LifeSpot Health

LifeSpot Health (ASX: LSH) has started distribution negotiations with "key players in recreational cannabis" following production of its first medical cannabis smart vaporiser. At the time of writing shares in the Melbourne-based company were up 13 per cent, with the group highlighting significant growth in the booming cannabis ...

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We have lift-off! The Australian Space Agency to be based in Adelaide

We have lift-off! The Australian Space Agency to be based in Adelaide

The space industry has been flexing its muscles in South Australia for the past three years and the Federal Government has been paying attention. Today, the Australian Space Agency announced that it will base its headquarters in Adelaide, South Australia. The new home for Australia's space industry will be built in the city-based ...

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Australian Young Entrepreneur Awards 2018 to acclaim the risk-takers and game-changers

Australian Young Entrepreneur Awards 2018 to acclaim the risk-takers and game-changers

Not content to rest on their laurels as the world changes around them, entrepreneurs are a forward-thinking breed for whom determination is de rigueur and risk is a reality.  As the culmination of a decade hosting Young Entrepreneur Awards and following the journeys of its participants through reportage, Business News Australia will ...

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Former Leighton CFO found guilty of cooking the books

Former Leighton CFO found guilty of cooking the books

Former Leighton Holdings (LHL) chief financial officer and director Peter Alan Gregg has been found guilty of criminal charges brought by the Australian Securities and Investments Commission (ASIC).  After a five-week trial in the District Court of New South Wales, a jury found Gregg (of Pyrmont, NSW) had engaged ...

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Accenture acquires Adelaide's PrimeQ, strengthening its Oracle Cloud capabilities

Accenture acquires Adelaide's PrimeQ, strengthening its Oracle Cloud capabilities

The acquisition of PrimeQ is set to make Accenture the largest operator of Oracle Cloud systems in Australia and New Zealand. Accenture has acquired Adelaide based PrimeQ, one of the top Oracle Software service providers in the Australia and New Zealand region. As reported by the Australian Financial Review, the sale of PrimeQ is esti...

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SumoSalad back in the ring with plans for THR1VE merger

SumoSalad back in the ring with plans for THR1VE merger

Within months of struggling through the toils of voluntary administration, food chain SumoSalad looks set to merge with another company that has fallen on hard times. Led by co-founder Luke Baylis as its company director, SumoSalad has signed a heads of agreement to explore the creation of a leading "house of wellness brands&quo...

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ACCC preliminary report slams unfettered dominance of Facebook and Google

ACCC preliminary report slams unfettered dominance of Facebook and Google

The Australian Competition and Consumer Commission (ACCC) has today released its most scathing assessment of how American tech giants are impacting the Australian market, particularly the news and advertising sectors. The regulator released a preliminary report containing 11 preliminary recommendations and eight areas for further analysis...

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IOOF leaders step down over APRA row

IOOF leaders step down over APRA row

The managing director and chairman of IOOF Holdings (ASX: IFL) have stepped down from their roles to fight legal action brought by the Australian Prudential Regulation Authority (APRA), in what the finance services provider has described as an "appropriate" step in the interests of governance. APRA announced on Friday that ...

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Zelda reaches cannabis spray deal with SUDA

Zelda reaches cannabis spray deal with SUDA

Perth-based Zelda Therapeutics (ASX: ZLD) is set to develop oral spray formulations for its cannabis medicines thanks to a deal reached with SUDA Pharmaceuticals Ltd (ASX: SUD). SUDA will apply its proprietary OroMist oromucosal spray tech for Zelda's pharmaceutical-grade formulations under a 12-month plan, as part of t...

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Fastbrick Robotics launches new service, discontinues Caterpillar MoU

Fastbrick Robotics launches new service, discontinues Caterpillar MoU

The launch of a new 'Wall as a Service' offering and plans to build at least 10 houses outdoors in 2019 were not enough to outweigh the market's negative reaction to Fastbrick Robotics (ASX: FBR) ending a Memorandum of Understanding (MoU) with major US machinery company Caterpillar (NYSE: CAT).  In an announcement yesterd...

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Forget the sofa: Find comfort with online counselling

Forget the sofa: Find comfort with online counselling

Seeing a mental health professional can be a daunting experience. Never mind the sterile waiting rooms, the unfamiliar office, and the anxiety of having to ask for time off work sometimes the hardest part is finding a car park! With broadband speeds faster than ever, and with telehealth well and truly entering its prime, it might be t...

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ACCC takes on TPG for retaining millions from allegedly misleading conduct

ACCC takes on TPG for retaining millions from allegedly misleading conduct

The Australian Competition and Consumer Commission (ACCC) is hoping to secure compensation for TPG customers after the telco allegedly misled consumers about a "prepayment" fee. The ACCC alleges that TPG misled customers about a $20 "prepayment" made by consumers and that the telco included unfair prepayment contract t...

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GrainCorp receives $2.4b takeover offer

GrainCorp receives $2.4b takeover offer

One of the country's largest agribusinesses GrainCorp (ASX: GNC) has been valued at a 42 per cent premium thanks to a takeover bid from Long-Term Asset Partners (LTAP), which is offering $10.42 per share. The non-binding, indicative proposal from the Australian outfit values Sydney-based GrainCorp at $2.4 billion, and at the time...

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Godfreys co-founder John Johnston passes away at 100

Godfreys co-founder John Johnston passes away at 100

John Johnston was described as a "driving force" behind the company's growth to become a national retail chain.  The centenarian owner of vacuum cleaner retailer Godfreys passed away last week, around five months after he and his family took back ownership of the group he co-founded almost eight decades ago. Godfrey...

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Myer receives "second strike" on remuneration

Myer receives "second strike" on remuneration

Shareholders of Myer (ASX: MYR) have delivered a "second strike" on remuneration at the company's AGM in Melbourne, with 37.49 percent of proxy votes rejecting the resolution. At perhaps the most important AGM in Myer's history, shareholders backed an aggressive and ongoing campaign from the company's biggest investo...

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Retail Food Group chairman flags asset sales, imminent "major restructuring"

Retail Food Group chairman flags asset sales, imminent "major restructuring"

The new executive chairman brought in to change Retail Food Group's (ASX: RFG) fortunes says 2019 will be "another demanding year", with asset sales and job cuts looking likely for the for the franchise operator. For Peter George, who has worked on the turnaround of companies including Optus and Asciano, RFG's woes ...

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ARA and Roy Morgan forecast Christmas spending to exceed $51b

ARA and Roy Morgan forecast Christmas spending to exceed $51b

The Australian Retailers Association (ARA) and market research group Roy Morgan expect a "bountiful" Christmas this year for stores specialising in electronics, with consumers of all ages set to indulge in new gadgets and technology. Electronics and hi-fi products fall under the groups' 'Other retailing' category whi...

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Booktopia launches $10m equity crowdfund

Booktopia launches $10m equity crowdfund

Australia's leading online bookseller Booktopia is turning a new page in Australian equity raising with a new crowdfunding scheme to offer 8.1 per cent of the company to investors through the platform Equitise. The Booktopia Group plans to raise up to $10 million at $1 per share, giving Australians a local investment opportunity in a ...

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THC Global expands to NZ with medicinal cannabis range

THC Global expands to NZ with medicinal cannabis range

Within weeks of acquiring a Canadian cannabis growing facility, THC Global (ASX: THC) is living up to its name through international expansion into the New Zealand market. The Sydney-based group has secured exclusive rights in New Zealand to import a range medicinal cannabis products based on cannabidiol (CBD) oil extracts from Danis...

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QANTM-Xenith merger to create $285m IP powerhouse

QANTM-Xenith merger to create $285m IP powerhouse

Melbourne-based QANTM Intellectual Property (ASX: QIP) has brushed off takeover offers from one Sydney suitor in favour of a merger with another, Xenith IP Group (ASX: XIP), in an all-scrip deal that would see it own a majority stake in the combined IP services entity. Shares in QANTM and Xenith have risen 6.9 per cent and 9.6 per cent re...

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Why should Myer report its quarterly sales?

Why should Myer report its quarterly sales?

Myer Holdings (ASX: MYR) chairman Garry Hounsell (pictured) has lambasted major shareholder Solomon Lew in a letter to the Australian Stock Exchange (ASX), claiming a "particularly disrupted" trading environment has been the result of sustained attacks from Lew's Premier Investments (ASX: PMV). The letter was in response to ...

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How integrity can save your website during a redesign

How integrity can save your website during a redesign

Any business owner worth their salt knows that an effective, or ineffective online advertising campaign, can make or break their company's bottom line profit. What they might fail to recognise however, are the red flags associated with digital agencies that are more concerned with making sales rather than delivering ethical outcomes. ...

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Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Under-siege Myer Holdings (ASX: MYR) has announced it has completed the refinancing of its bank facility, as Solomon Lew's Premier Investments continues its savage attacks on the department store chain. The company has extended the maturity to February 2021 and says this will give Myer the "confidence and ability" to deliver...

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Businesses urged to watch out for email invoicing scams

Businesses urged to watch out for email invoicing scams

Scamwatch, the competition regulator's website highlighting business scams, is calling on businesses to urgently review how they verify and pay accounts and invoices as reports of business email compromise (BEC) scams have grown by a third this year. "This is a very sophisticated scam, which is why many businesses only realise th...

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Moody's forecasts "modest" earnings growth in 2019

Moody's forecasts "modest" earnings growth in 2019

Ratings agency Moody's sees good opportunities for exporters and resources companies this year from a weaker Australian dollar, along with "modest earnings growth" for corporates and a low appetite for increased debt. Moody's Investors Service forecasts the earnings growth will be supported by GDP growth of around 2...

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Coles starts trading on the ASX

Coles starts trading on the ASX

After an 11-year absence due to its incorporation with Wesfarmers (ASX: WES), one of country's leading supermarkets is back on the Australian Stock Exchange. Shares in Coles Group (ASX: COL) started trading today following a decision from the Supreme Court of Western Australia on Monday to approve a Wesfarmers shareholder vote in...

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