Health issues force Michael Hill CEO to resign

Health issues force Michael Hill CEO to resign

Less than eight months into the job the CEO of jeweller Michael Hill (ASXL MJH) Phil Taylor (pictured top) has resigned. Citing the diagnosis of a "health issue", Taylor will step down to focus on his treatment and recovery. In his place is Daniel Bracken (pictured right), the now former CEO of Specialty Fashion Group (ASX: ...

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Premier Investments bucks retail slump with record sales

Premier Investments bucks retail slump with record sales

Premier Investments (ASX: PMV) notched outstanding retail sales results in FY18 with a solid contribution from online, but a revaluation of one of its brands ultimately drove profits southward. Taking stock of an increasingly competitive apparel retail sector in Australia and New Zealand, an impairment expense of $30 million for Just...

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Aged care providers tank in wake of royal commission announcement

Aged care providers tank in wake of royal commission announcement

After Prime Minister Scott Morrison announced a royal commission into Australia's aged care system the preeminent providers of the service on the ASX saw their shares take a tumble. At 12.20pm AEST Aveo is down 4.28 per cent to $2.16, Estia is down 18.3 per cent to $2.41 per share, Japara is down 14 per cent to $1.44, and Regis Health...

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ANTG forms partnership to export Aussie cannabis to Germany

ANTG forms partnership to export Aussie cannabis to Germany

As the global cannabis market continues to expand at a serious pace, Aussie cannabis companies are reaching out globally to form a powerhouse export market. Australian Natural Therapeutics Group (ANTG)  has recently announced a partnership that will allow it to export its cannabis for German patients. In partnership with Cannamed...

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ASIC to take second bite of the pie in ANZ cartel scandal

ASIC to take second bite of the pie in ANZ cartel scandal

Back in June, ANZ, Citigroup, and Deutsche Bank got caught up in a widely publicised scandal relating to alleged criminal cartel charges. The Australian Securities and Investments Commission laid charges against the banks and several senior personnel from each of the financial institutions. Today, ASIC has once again gone after ANZ fo...

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Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

The Scurr family and their company Piñata Farms have invested substantial sums to develop some of Australia's most advanced strawberry operations, including high-tech hydroponic substrate farming, new varieties and even metal detectors in the packhouse. But the latter was done to avoid stray rocks or jewellery, not needles like...

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Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Myer's (ASX: MYR) leading shareholder has demanded chairman Garry Hounsell "step down immediately" after the retailer reported a net loss in FY18 that is almost $130 million larger than its market capitalisation. Premier Investments Limited has been consistently railing against the Myer board's decisions over the past ye...

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Another "disappointing" result for Myer as profits slide

Another "disappointing" result for Myer as profits slide

"These results are obviously disappointing and shareholders deserve better," says Myer CEO John King. One of Australia's biggest retail brands has reported a 52 per cent plunge in profit for a financial year marked by shareholder indignation at a disappointing discount program that failed to deliver results. The bottom l...

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AusCann lists on US stock exchange to boost international operations

AusCann lists on US stock exchange to boost international operations

One of Australia's leading listed cannabis companies has jumped across the Pacific to list on one of America's leading stock exchanges. AusCann Group (ASX: AC8) has commenced trading on the US OTCQX Market under the stock symbol ACNNF. The OTCQX is an investor-focused US market featuring US and global companies. To qualify for...

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Gold Coast Convention and Exhibition Centre earns world first 'green' award

Gold Coast Convention and Exhibition Centre earns world first 'green' award

The Gold Coast Convention and Exhibition Centre (GCCEC) is a leader in environmental and social sustainability in the Convention Centre space. The centre's credentials are so impressive that it has just been awarded EarthCheck's coveted Platinum Certificate along with the Adelaide Convention Centre the first Convention Centres in ...

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Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon is launching a full-on assault on Australia's financial institutions in a campaign to secure more than one billion dollars in super from the banks. Their campaign is called Get Your Super Back and it is shaping up to be an intensive, lengthy, and expensive battle. "Slater and Gordon will take on the banks on...

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Yellow Brick Road rejects takeover, talks up bidding war

Yellow Brick Road rejects takeover, talks up bidding war

Financial services group Yellow Brick Road (ASX:YBR) has urged shareholders to reject a $25.4 million takeover bid by corporate raider Sir Ron Brierley, while indicating that a potential bidding war could be on the horizon for the company. In a letter to shareholders, the Mark Bouris-led group argues that the offer from Mercantile Investm...

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Zelda secures partnership to crack the German medicinal cannabis market

Zelda secures partnership to crack the German medicinal cannabis market

With the medicinal cannabis movement expanding globally, Australian pharmaceutical group Zelda Therapeutics (ASX: ZLD) are riding the wave not just at home but abroad too. On Tuesday, the company announced a partnership with German medicinal cannabis company HAPA Medical that provides HAPA with first rights to distribute and manufacture Z...

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CannPal steps up testing of cannabis drug for pets

CannPal steps up testing of cannabis drug for pets

After successfully testing its cannabis-derived pain formulation on a group of Beagles and Foxhounds, CannPal Animal Therapeutics (ASX:CP1) has begun a new phase of its study into determining safe dosages for pets. CannPal declared the Phase 1A pharmacokinetic and safety study for the CPAT-01D formula a success after testing of 11 dogs sh...

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The Agency yet to turn a profit after doubling revenue

The Agency yet to turn a profit after doubling revenue

A solid pace of real estate agent recruitments and acquisitions has led to a near doubling of sales revenue for The Agency (ASX:AU1), but one-off set up costs continue to impact the tearaway group which posted a marginally higher bottom-line loss for FY18. The Agency, formed two years ago by a handful of McGrath's (ASX:MEA) top agents...

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Retail Food Group tops off horror year with $306m loss

Retail Food Group tops off horror year with $306m loss

Embattled franchise operator Retail Food Group (ASX:RFG) capped off a horror year by posting a $306.7 million bottom-line loss and revealing it remains at 'significant risk' of breaching debt covenants over the next 12 months.

The loss, the first time the Gold Coast-based company has plunged into the red in any financial year as ...

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TPG, Vodafone agree to form $15b telco powerhouse

TPG, Vodafone agree to form $15b telco powerhouse

TPG Telecom (ASX: TPG) and Vodafone Hutchison Australia (VHA) are set to join forces after agreeing to a merger that would create a fully integrated telecommunications operator with an enterprise value of $15 billion. In an announcement to the Australian Stock Exchange this morning, the companies said the proposed deal would create a &quo...

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Bouris criticises "opportunistic" Yellow Brick Road takeover bid

Bouris criticises "opportunistic" Yellow Brick Road takeover bid

Mercantile OFM, a subsidiary of Mercantile Investment Company (ASX: MVT), has launched an off-market takeover bid for wealth management company Yellow Brick Road (ASX: YBR) at a cash price of $0.09 per share. The unsolicited offer represents a 3.2 per cent discount to YBR's most recent closing price of $0.093 and YBR executive chairma...

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Kogan.com doubles earnings for FY18 despite rocky year

Kogan.com doubles earnings for FY18 despite rocky year

Online retailer Kogan.com (ASX: KGN) has come out on top despite a tough12 months as its earnings surge for the third year in a row. The e-retail company has posted revenue of $412.3 million, up 42 per cent year-on-year reflecting growth across all product divisions and driven in part by a 45 per cent uplift in Kogan's number of activ...

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Catapult kicks partnership goals to grow revenue and reach

Catapult kicks partnership goals to grow revenue and reach

Sports technology developer Catapult Group International (ASX: CAT) has recorded a $17.3 million net loss after tax for FY18, as the group continues trying to keep down travel and labour costs as it rolls out new technologies and garners new high-profile domestic and international elite clients.  The company has posted a 26 per cent ...

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AusCann cannabinoid medicines one step closer to market

AusCann cannabinoid medicines one step closer to market

AusCann's (ASX: AC8) long awaited medical cannabis product is on its way to pharmacy shelves following the completion of an important medical trial. The listed cannabis company has now announced a successful pilot study of an optimal final dose form for its cannabinoid medicines. This clinical study has been ongoing for the last 1...

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Double digit growth again for Villa World

Double digit growth again for Villa World

Residential property developer Villa World Limited (ASX: VLW) has reported strong results for FY18 amid solid sales from its flagship projects on the east coast. The company has posted double digit profit growth for the fifth consecutive year with a statutory net profit after tax of $43.6 million for FY18, up 15 per cent year-on-year. ...

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ASX reporting wrap: Thursday 9 August highlights

ASX reporting wrap: Thursday 9 August highlights

Companies across several of sectors including banking, entertainment, property and energy today revealed their FY18 results. All eyes were on Suncorp in the wake of AMP's disastrous profit fall on Wednesday. Crown Resorts, Mirvac Group, Orora and AGL Energy also posted results. AGL Energy (ASX: AGL) Reaping the rewards from mu...

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AMP's profit dives 74 per cent on the back of a rough year

AMP's profit dives 74 per cent on the back of a rough year

It's been a rough year for financial services provider AMP (ASX: AMP). The company sure has been put through the wringer at the Financial Services Royal Commission where it surfaced that the company was charging customers fees without providing any services. Multiple class actions soon followed these revelations, so it's littl...

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SCA Property Group falls victim to tough retail conditions

SCA Property Group falls victim to tough retail conditions

In what marks yet another sign that the Australian retail environment continues to struggle, commercial landlord Shopping Centres Australasia Property Group (ASX: SCP) has reported a 45.2 percent profit fall, down to $175.2 million. The retail trust has blamed its lacklustre result on stunted property value growth compared to its prior ye...

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WA live exporters given the green light to relaunch next month

WA live exporters given the green light to relaunch next month

Despite significant resistance to the trade from the Australian public, exporters in Western Australia have been given the green light to relaunch the live sheep export industry in September. West Australian Agriculture Minister Alannah MacTiernan is aiming to relaunch the live sheep export next month using "reputable" producers...

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Retail sales bounce back thanks to cold winter

Retail sales bounce back thanks to cold winter

Clothing and food have helped boost national retail spending over the past year with healthy annual growth of 2.87 per cent recorded thanks to a strong run in June. The 0.4 per cent increase in sales during June was ahead of expectations of a 0.3 per cent increase, and it's largely thanks to a cold winter, according to the Australian ...

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Foodora the first casualty in a loss-making industry

Foodora the first casualty in a loss-making industry

After forecasting a shake-up in the food delivery industry just two weeks ago, the departure from Australia of Foodora at the end of this month has even taken business analyst IBISWorld by surprise. "We had forecast this would happen, but we didn't expect it be so quickly," says IBISWorld senior industry analyst Andrew Ledov...

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QBL sitting on cannabis breakthrough in treating MS

QBL sitting on cannabis breakthrough in treating MS

Queensland Bauxite (ASX: QBL), a major player in the medical cannabis market, has announced a potential breakthrough for the treatment of one of the world's most prevalent autoimmune disorders, multiple sclerosis (MS).

QBL, through an agreement between Medical Cannabis Research Group and leading global cannabis researcher Professor David ...

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Cycliq's king of the mountain moment

Cycliq's king of the mountain moment

Listed bicycle dashcam manufacturer and distributor Cycliq (ASX: CYQ) has reported a strong financial year, finishing off FY18 with a bang. The business, which sells dashcams specifically tailored for bikes, pushed up its annual revenue by 210 per cent to $4.9 million, and annual unit sales up 250 per cent to $27,000. During the finan...

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