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

Government offers $500,000 loans to drought-hit farm businesses

Government offers $500,000 loans to drought-hit farm businesses

The Federal Government will be offering loans of up to $500,000 to help small farmers affected by drought pay for operating expenses and refinance existing debt. Minister for Drought and Rural Finance David Littleproud says the new Regional Investment Corporation (RIC) loan for farm-dependent small businesses will be availa...

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Tourism body calls for positive campaign to counter $4.5 billion booking shortfall

Tourism body calls for positive campaign to counter $4.5 billion booking shortfall

Softened bookings from international tourists due to the bushfires could have an estimated $4.5 billion impact on the industry.  The main body representing the tourism export sector has called for a positive messaging campaign highlighting that Australia is 'open for business' as international tourism wanes. The ongoing b...

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F45 Training files for US IPO

F45 Training files for US IPO

An Australian group workout class franchise that attracted an investment from Hollywood star Mark Wahlberg is now one step closer to listing in the US.  Anonymous sources close to F45 Training told Bloomberg the company had confidentially filed for an initial public offering that could take place as soon as the first half. Founde...

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Hotel SaaS SiteMinder joins unicorn club

Hotel SaaS SiteMinder joins unicorn club

The Australian tech scale-up scene is getting points on the board early this year after a recent equity raise lifted the valuation of SiteMinder to $1.1 billion. The accommodation guest acquisition software outfit processed 105 million bookings for more than 35,000 hotels in 2019. Founded in 2006 by Mike Ford (pictured) and Mike Roger...

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Carly moves up a gear into New Zealand

Carly moves up a gear into New Zealand

Car subscription company Carly has inked a deal with listed automotive company Turners Automotive Group (ASX: TRA) to launch the platform in New Zealand by March 2020. The deal, between Carly's parent Collaborate (ASX: CL8) and Turners, will see the New Zealand company commit to supply 200 vehicles for their own stock within six month...

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Will online boost and lab-grown diamonds mean a glistening future for Michael Hill?

Will online boost and lab-grown diamonds mean a glistening future for Michael Hill?

Sales rose by 3.3 per cent for iconic jeweller Michael Hill International (ASX: MHJ) in the second quarter while new initiatives in e-commerce and synthetic diamonds set the scene for potential future growth opportunities. Online sales still only accounted for 3.3 per cent of the company's $203.5 million in revenue, but Michael H...

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Jeanswest appoints voluntary administrators

Jeanswest appoints voluntary administrators

Classic Australian clothing retailer Jeanswest faces a possible restructure after voluntary administrators KPMG stepped in today. KPMG's Peter Gothard and James Stewart have been appointed as voluntary administrators for the brand which first opened its doors in Perth in 1972. The announcement will only impact Jeanswest's...

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Smoothie Bombs' 'cybersquatting' case is a lesson for every business owner

Smoothie Bombs' 'cybersquatting' case is a lesson for every business owner

In this modern era, having a good product and a strong sales plan in place is just one part of the equation for retail success. As marketing, sales, promotion and products are more online than ever before, ensuring your intellectual property is in place and sufficiently protected is essential. One Australian founder learned this the h...

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Kangaroo Island Plantation Timbers hit again by bushfires

Kangaroo Island Plantation Timbers hit again by bushfires

The bushfires on Kangaroo Island, South Australia, which have ravaged a large swathe of the western part of the island continue to cause problems for farmers in the region. In particular Kangaroo Island Plantation Timbers (ASX: KPT) has felt the heat, with the fires forcing the company into voluntary suspension from the ASX while the dama...

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Former Guvera CEO banned from managing companies

Former Guvera CEO banned from managing companies

Darren Herft, the former CEO of music streaming platform Guvera, has been banned from managing corporations for a period of two years by the Australian Securities and Investments Commission (ASIC). Herft's ban follows the failure of four companies within the Guvera group which collapsed in June 2017. Guvera was founded in 2008 by ...

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Ailing Evans Dixon US property fund reports further woes

Ailing Evans Dixon US property fund reports further woes

Evans Dixon's (ASX ED1) US Masters Residential Property Fund (ASX: URF) has been on rocky ground of late, and its woes have continued to worsen into the new year. The company has been forced to reduce its net asset value (NAV) by up to 30 per cent as a result of a struggling New York City housing market, an unfavourable exchange rate,...

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Thredbo resort back in business after bushfire closure

Thredbo resort back in business after bushfire closure

Event Hospitality & Entertainment (ASX: EVT) has reopened its summer operations at Thredbo after bushfires in and around the Kosciuszko National Park forced a closure at the start of the year. All in-resort operations including mountain biking were expected to resume today, however areas in the park outside Thredbo remain closed ...

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The Iconic mega-facility opens doors for bushfire donation storage

The Iconic mega-facility opens doors for bushfire donation storage

Donors wanting to chip in for bushfire relief are often encouraged to give cash rather than physical goods, thus avoiding the potential for charities to be overwhelmed with blankets, clothes and assorted paraphernalia. But online retailer The Iconic may have a solution to this logistical problem thanks to its upgraded fulfilment centre in...

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Corporate Travel Management completes $26.5m US acquisition

Corporate Travel Management completes $26.5m US acquisition

Corporate Travel Management (ASX: CTD) has successfully acquired a Texas-based travel services provider for USD$18 million (AUD$26.5 million), bolstering its position as a Top 10 player in North America. The transaction to buy Corporate Travel Planners Inc (CTP) comprises 90 per cent cash and 10 per cent CTD stock, and is expected to...

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Zip records strongest quarter to date

Zip records strongest quarter to date

Buy-now pay-later (BNPL) platform Zip Co (ASX: Z1P) has capped off its strongest quarter to date in Q2 FY20, with record transaction volumes and an influx of new customers. The listed fintech recorded transaction volumes of more than $200 million in a single month for the first time during the December quarter. Zip was certainly given...

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Apollo sees bushfire fallout on the horizon for bottom line

Apollo sees bushfire fallout on the horizon for bottom line

Motorhome company Apollo Tourism & Leisure (ASX: ATL) faces a slowdown on two fronts as bushfires take their toll on domestic customer numbers and forward bookings from overseas. In a trading update today, the Brisbane-based group announced it would be challenging to reach the underlying FY19 net profit of $14.7 million again in ...

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Companies dig deep for wildlife rescue and recovery

Companies dig deep for wildlife rescue and recovery

With a University of Sydney researcher estimating more than one billion animals have been killed in Australia's devastating 2019-20 bushfire season, businesses have pledged to lend a helping hand. Woolworths Group (ASX: WOW) yesterday joined the likes of Cadbury and Crown Resorts (ASX: CWN) by pledging to donate at least $250,000...

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SeaLink lodge hit by Kangaroo Island bushfires

SeaLink lodge hit by Kangaroo Island bushfires

Kangaroo Island's leading tourism and transport business SeaLink (ASX: SLK) is assessing the impact of bushfires on its business as one of its major hotels has reportedly been destroyed. The company confirmed on Friday afternoon that its popular holiday lodge at Vivonne Bay sustained "significant damage". However, as rep...

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Photo Auction to take emerging Australian artists to the world

Photo Auction to take emerging Australian artists to the world

With its launch into Australia last November, Photo Auction hoped to add yet another market to its fast-growing footprint. While sales are one thing, what the retailer is really interested in is uncovering new talent. Based in South Korea, New York and Hong Kong, Photo Auction is an art retailer specialising in photography. The gr...

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ECS Botanics scores Woolworths distribution deal for hemp-based soups

ECS Botanics scores Woolworths distribution deal for hemp-based soups

Hemp food company ECS Botanics (ASX: ECS) has landed a distribution deal with Woolworths that will see a range of hemp-based soups stocked on the supermarket's shelves. While the total revenue expected to be generated from the deal is still uncertain, the company will ramp up manufacturing runs to meet the anticipated first order from...

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Bushfire season slams Suncorp with $519m natural hazard cost

Bushfire season slams Suncorp with $519m natural hazard cost

The destructive bushfires witnessed over the end of 2019 and into the beginning of the 2020 have proven costly for Suncorp's (ASX: SUN) insurance arm, with natural hazard costs in 1H20 topping out at $519 million. Since September 2019 the Queensland-based company has received more than 2,600 bushfire-related claims, with a total estim...

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Mining magnate Andrew Forrest pledges $70 million to bushfire relief

Mining magnate Andrew Forrest pledges $70 million to bushfire relief

Billionaire Andrew Forrest (pictured) has pledged to donate $70 million toward the bushfire response and recovery process. Forrest, the former CEO of Australian iron ore mining company Fortescue Metals Group, will donate the $70 million via his philanthropic organisation Minderoo Foundation. The charity will break down its donation wi...

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Australian Vintage confirms extent of damage from SA bushfires

Australian Vintage confirms extent of damage from SA bushfires

Wine company Australian Vintage (ASX: AVG) has confirmed that a vineyard in South Australia has been affected by bushfires. AVG's 30-hectare vineyard in Charleston, east of Adelaide and near Lobethal, was impacted by the Cudlee Creek bushfire which burnt through more than 17,000 hectares and destroyed more than 80 houses. "It...

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Bolton's Keybridge Capital receives yet another takeover offer

Bolton's Keybridge Capital receives yet another takeover offer

It seems like everyone wants a slice of Keybridge Capital (ASX: KBC), with Australian alternative asset manager Aurora Funds Management throwing its hat in the ring for control of the company. Aurora's Dividend Income Trust (ADIT) announced this afternoon that it intends to make an off-market takeover bid at 6.6c per share to take con...

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Camplify to arrange free accommodation for bushfire victims

Camplify to arrange free accommodation for bushfire victims

With close to 2,000 homes destroyed over this horror bushfire period many Australians are without viable accommodation as the crisis continues. Australia's largest caravan hire and RV sharing community Camplify has stepped up to the plate to offer those affected by the fires free temporary accommodation. The scale-up has created a...

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Kangaroo Island Plantation Timbers ravaged by SA bushfires

Kangaroo Island Plantation Timbers ravaged by SA bushfires

Listed timber business Kangaroo Island Planation Timbers (ASX: KPT) has entered into voluntary suspension from the ASX after its plantations were significantly affected by the South Australian bushfires. The company is still assessing the total damage done to its plantations, but it is estimated that about 90 per cent of the plantations o...

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Caltex confirms approaches from more suitors

Caltex confirms approaches from more suitors

Just a month after knocking back an $8.6 billion takeover offer from Canada's Alimentation Couche-Tard (ATD), Caltex Australia (ASX: CTX) has today confirmed approaches from a number of parties including the UK's EG Group. The announcement follows a report from Bloomberg yesterday that EG was working with a financial adviser ...

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Wisetech acquires Swiss logistics solutions provider for $15.5m

Wisetech acquires Swiss logistics solutions provider for $15.5m

Acquisitive Australian logistics solutions company WiseTech (ASX: WTC) is kicking off 2020 much like it ended 2019, with the purchase of Switzerland's SISA Studio Informatica for $15.5 million plus a multi-year earn-out of up to $8.9 million. WiseTech's detractors including short seller J Capital and "creative accounting&quot...

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Business Council calls on companies to support bushfire relief

Business Council calls on companies to support bushfire relief

The Business Council of Australia has called on its members to support Australians suffering from the ongoing bushfire crisis by coordinating to provide supplies and relief. In addition to two key trusts, the BCA is encouraging businesses with employees voluntarily fighting the bushfires to support those staff with a minimum of 20 days pa...

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Althea patient base surpassed 4,000 in 2019

Althea patient base surpassed 4,000 in 2019

Medicinal cannabis company Althea (ASX: AGH) had a stellar finish to an eventful 2019 with more than 4,000 patients prescribed in Australia. Founded by Joshua Fegan (pictured), who won Trailblazer of the Year at the Melbourne Young Entrepreneur Awards 2019, the company today reported 4,018 patients were prescribed to Althea's CBD...

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