Cosmetic clinic group snapped up by pharmacy giant

Cosmetic clinic group snapped up by pharmacy giant

Australian Pharmaceutical Industries Limited (ASX: API) has acquired Clearskincare Clinics for $127.4 million. The acquisition, to be paid for over three years, will see API acquire all the assets of Clearskincare Clinics, including 42 clinics in Australia and two in New Zealand. Clearskincare Clinics is a leading Australian provider ...

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Bellamy's organic movement hits Tasmania

Bellamy's organic movement hits Tasmania

Bellamy's (ASX: BAL) has made a $5.5 million investment to assist Tassie farmers in transitioning to organic practices. The infant formula producer has signed a deal with global dairy giant Fonterra to help Tasmanian farmers switch to organic practices, in an effort to increase the local supply. Bellamy's will make an initial ...

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Court approves history-making settlement between Comm Bank and AUSTRAC

Court approves history-making settlement between Comm Bank and AUSTRAC

The Federal Court has today approved settlement between Commonwealth Bank (ASX: CBA) and the Australia Transaction Reports and Analysis Centre (AUSTRAC) over the anti-money laundering case which was brought against the financial services giant in August last year. CBA agreed in early June 2018 that it would pay $700 million in civil penal...

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Satellite company Kleos Space set to launch

Satellite company Kleos Space set to launch

A highly successful seed-funding round in Australia earlier this year prompted Luxembourg-based tech company Kleos Space to seek a listing on the ASX, but according to chairman Peter Round this is no start-up venture. "Technically we're a start-up because of the timing of when the company began, but we're not a start-up in te...

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Cannabis companies hit new high with fresh capital

Cannabis companies hit new high with fresh capital

Two of Australia's leading listed cannabis players have raised millions in funds to boost their businesses in Australia and overseas. Botanix Pharmaceuticals (ASX: BOT), a medical dermatology company combatting serious skin diseases with cannabis-based products, has successfully completed an oversubscribed placement to raise $8 millio...

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Dreamscape makes fourth acquisition in 16 months for $8.5m

Dreamscape makes fourth acquisition in 16 months for $8.5m

Dreamscape Networks Limited (ASX: DN8) has acquired Domain Name Registrar (DNR) for $8.5 million, its fourth acquisition in the past 16 months. The acquisition is part of Dreamscape's "bolt on" strategy, as Dreamscape continues to consolidate local domain and hosting businesses under the Dreamscape Networks' umbrella. D...

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Underwater drone maker scores landmark deal with US Navy

Underwater drone maker scores landmark deal with US Navy

ASX-listed underwater drone manufacturer Aquabotix (ASX: UUV) has entered into an agreement with a major United States defence division which could help change the face of modern naval warfare. Aquabotix signed the cooperative research and development agreement with the US Naval Undersea Warfare Center to test its SwarmDiver product at th...

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Creso Pharma scores licence to grow cannabis in Colombia

Creso Pharma scores licence to grow cannabis in Colombia

A subsidiary of Australian cannabis company Creso Pharma (ASX: CPH) has been granted a pivotal licence to grow medicinal cannabis in Colombia. Creso, through Kunna Canada, has been granted a licence to cultivate medicinal cannabis in Colombia, following the receipt of licenses required to produce, manufacture, market and export cannabis d...

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AusCann joint venture completes second cannabis harvest in Chile

AusCann joint venture completes second cannabis harvest in Chile

Listed medicinal cannabis company AusCann (ASX: AC8) has completed its second harvest with DayaCann joint venture partner Fundación Daya in Chile. The second harvest proved to be even more fruitful than the first, yielding 620kg of dried cannabis product, an increase of over 50 per cent on the 400kg yielded in the first harvest. ...

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Why AI could be an entrepreneur's best investment

Why AI could be an entrepreneur's best investment

It's easy to be swayed by doom and gloom headlines questioning whether artificial intelligence (AI) will soon replace certain human jobs for good, or, more outlandishly, become a sentient cause for concern. Thanks Terminator. Realistically however, entrepreneurs and professionals in the IT space agree that AI has inspired some of the ...

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CBA settles anti-money laundering case for $700m

CBA settles anti-money laundering case for $700m

Commonwealth Bank has agreed to pay $700 million to the anti-money laundering regulator after it admitted to breaching the law on more than 50,000 separate occasions. CBA settled its anti-money laundering and counter-terrorism case brought by AUSTRAC and also agreed to pay $2.5 million in legal fees although the agreement still needs Fede...

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Winemaker behind Hardys acquired by US firm

Winemaker behind Hardys acquired by US firm

Australia's largest winemaker, Accolade, has been acquired by US based private equity firm The Carlyle Group. Based in South Australia, Accolade produces a number of prominent Australian household wines with labels including Hardys, St Hallet and Banrock Station. As a major producer of cask wines and the fifth largest in the world...

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eBay takes on Australian retailers and Amazon with unlimited delivery plan

eBay takes on Australian retailers and Amazon with unlimited delivery plan

Online retail behemoth eBay is set take on rival Amazon with a new shopping membership program for Australian online shoppers. The arrival of eBay Plus is also expected to provide further upheaval for Australia's struggling "bricks and mortar" retailers with shoppers to be given unlimited  deliveries and returns on new ...

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Metcash shares tumble after losing key SA customer

Metcash shares tumble after losing key SA customer

Metcash (ASX: MTS) shares have plunged nearly 17 per cent after the grocery supplier flagged a potential $270 million hit because one of its main customers has shunned its new South Australian distribution centre. Drakes Supermarkets announced it would not use the distribution centre beyond the end of their agreement in June 2019. Dra...

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Optus to phase out Virgin Mobile brand

Optus to phase out Virgin Mobile brand

Optus will phase out Virgin Mobile Australia and will close 36 stores across Australia just a day after it was hit with a $1.5 million fine for misleading customers over the NBN. The giant telco will close down Virgin Mobile over the next two years with around 200 jobs to be cut. Virgin Mobile Australia has been owned and co-owned by ...

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Optus fined for misleading customers over NBN

Optus fined for misleading customers over NBN

Optus has been slapped with a $1.5 million fine by the Federal Court for making misleading statements to its customers regarding their transition to the NBN. The telco was ordered to pay up after it told 14,000 customers, between the dates of October 15 and March 17, that their services would be disconnected if they didn't move to the...

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Bidding war looms for outdoor advertising giant

Bidding war looms for outdoor advertising giant

A BIDDING war for a bigger slice of the lucrative outdoor advertising sector appears to be on the cards as APN Outdoor Group (ASX:APO) reveals it is offering $500 million for the Adshel business. The indicative offer for Adshel, owned by Here There & Everywhere (ASX:HT1) and operator of Australia's largest street furniture adverti...

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Toys 'R' Us demise sparks industry shakeup

Toys 'R' Us demise sparks industry shakeup

Toys 'R' Us has fallen into voluntary administration and it could herald major changes to the international toy industry. Following the demise of the chain both in Australia and overseas, analysts say a merger boom is on the cards as smaller toy manufacturers aim to recoup their presence in the market. Smaller toy makers who t...

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"Myer is in peril" declares Solomon Lew in heated letter to shareholders

"Myer is in peril" declares Solomon Lew in heated letter to shareholders

Solomon Lew has slammed Myer (ASX: MYR) and its executives in an acrimonious letter to shareholders, warning that the company is on the cusp of a devastating net loss at the full year. As chair of Premier Investments, Myer's biggest shareholder, Lew made his outrage clear at executive chairman Garry Hounsell's announcement earlier...

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The five keys to a better customer service strategy

The five keys to a better customer service strategy

In the world of business, it is not so much what you offer that counts but how you offer it. The way you satisfy your customers is what turns them into repeat buyers who deliver positive word-of-mouth messages about your brand to other people. Customer satisfaction has the potential to boost your bottom line and impact your ultimate s...

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MGC Pharma launches new cannabidiol skincare product

MGC Pharma launches new cannabidiol skincare product

Listed cannabis company MGC Pharma (ASX: MXC) has launched a new cannabis infused skincare product through its subsidiary MGC Derma. Called CBD Herbal Replenish Cream, the product is specifically developed for external skin care and relief from inflammatory skin conditions. The new cream is the second skincare product launched th...

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Godfreys at risk of default, reaches for lifeline from 99-year old co-founder

Godfreys at risk of default, reaches for lifeline from 99-year old co-founder

Listed vacuum cleaner sales business Godfreys (ASX: GFY) has recommended shareholders accept the takeover deal by its 99-year-old co-founder as the business is at risk of defaulting on loans. In a statement to the ASX on Wednesday, Godfreys recommended that shareholders accept the offer made by its co-founder John Johnston, now the direct...

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Twitter passwords compromised following system glitch

Twitter passwords compromised following system glitch

Twitter has warned its users to update their passwords on the social media site following a system bug which has compromised users' passwords. Usually when setting a password on Twitter, the entry is stored via technology which masks it so that it can't be seen by company staff. Twitter's Chief Technology Officer Parag Agr...

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Esprit to exit the Australian market, closing 67 outlets

Esprit to exit the Australian market, closing 67 outlets

American fashion retailer Esprit is set to exit the Australian and New Zealand market by the end of the year.  After failing to turn around its loss-making operations, the retailer which is based in Germany and Hong Kong will close its 67 stores in the ANZ region. The group, which has been operating in Australia since the 1980s, ...

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Zelda Therapeutics makes significant progress in medicinal cannabis research programs

Zelda Therapeutics makes significant progress in medicinal cannabis research programs

Listed medicinal cannabis company Zelda Therapeutics (ASX: ZLD) has made progress in a number of key research programs during the March 2018 financial quarter. Zelda recently received approval for a major study into the pharmacology of cannabinoids in the treatment of paediatric autism patients. The study is set to be conducted at the...

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Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia has confirmed it is the fastest growing independent business news website, by more than doubling its unique visitors and total page views over the past year. The total number of unique visitors to www.businessnewsaus.com.au rose to 55,600 for the month of April, which is up by 108 per cent from the previous year. ...

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AMP faces class action over Royal Commission scandal

AMP faces class action over Royal Commission scandal

Less than a week after the resignation of its CEO Craig Meller, AMP is facing a potential class action lawsuit from Quinn Emanuel Urquhart & Sullivan (QE) on behalf of aggrieved shareholders. QE announced that it will investigate a class action against the financial services giant which has admitted to lying to its customers and regul...

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Creso to launch cannabis infused beer and tonics line

Creso to launch cannabis infused beer and tonics line

Australian-Swiss cannabis company Creso Pharma (ASX: CPH) has announced its new line of cannabis infused beers and tonics is in production. The beverages are being developed through Creso's joint venture partners Baltic Beer Company and LGC Capital. The drinks, which are currently brewing in Creso's newly built European facili...

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Sporting legends back landmark partnership to clean up the ocean

Sporting legends back landmark partnership to clean up the ocean

There's little doubt that plastic waste is our oceans is one of the most threatening issues of our time. A global partnership between sports retailer Adidas and ocean innovator Parley aims to curb the problem, with several Aussie sporting heroes lending their support to the campaign. Adidas and Parley have partnered up to create a...

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MGC Pharmaceuticals expands cannabis production overseas with new facility in Malta

MGC Pharmaceuticals expands cannabis production overseas with new facility in Malta

Listed cannabis producer MGC Pharmaceuticals (ASX: MXC) has received approval to construct a state-of-the-art medical cannabis production and cultivation facility in Malta. MGC is one of only five companies worldwide, and the only Australian company, to hold a cannabis production and cultivation contract in Malta. At the new 4,000sqm ...

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