Silver Chef takeover heats up as Blue Stamp demonstrates its worth

Silver Chef takeover heats up as Blue Stamp demonstrates its worth

The battle for the heart of Silver Chef (ASX: SIV) is fast becoming an episode of The Bachelor, with the company's two suitors turning up the heat over the last two days. In one corner there is Next Capital, an investment firm looking to acquire Silver Chef's hospitality business after previous attempts to take over the entirety o...

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Rhinomed sniffs out opportunities in North America with new listing

Rhinomed sniffs out opportunities in North America with new listing

Breathing management med-tech business Rhinomed (ASX: RNO) has today listed in the USA on the OTCQB Venture Market. The company, which develops nasal and respiratory technologies to assist with sleep, sport and wellbeing, and is currently exploring how medicinal cannabis can improve its product range, will trade under the symbol "RHN...

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Westpac CFO Peter King announces retirement

Westpac CFO Peter King announces retirement

After 25 years with the bank Peter King (pictured) has announced he will step down as chief financial officer of Westpac (ASX: WBC). King will reitre from the role he has held at the bank since 2014 in 2020, giving the bank 12 months' notice of his retirement today. CEO Brian Hartzer says that King will be missed at the bank, cong...

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Watchdog gives green light to Elders rural retail acquisition

Watchdog gives green light to Elders rural retail acquisition

The Australian Competition and Consumer Commission (ACCC) has given agribusiness Elders (ASX: ELD) the go-ahead to acquire Australian Independent Rural Retailers (AIRR). Elders will buy AIRR for a cash-scrip consideration of $10.85 per share, valuing the rural merchandise, pet and produce chain at $157 million on an equity basis. AIRR...

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Next Capital shoots another shot at Silver Chef acquisition

Next Capital shoots another shot at Silver Chef acquisition

UPDATE: Silver Chef takeover heats up as Blue Stamp demonstrates its worth Just over a week after Silver Chef (ASX: SIV) rejected Next Capital's acquisition proposal and chose to side with the opinion of key shareholders demonstrating a "groundswell of distain" for Next's offer, the suitor has returned with a s...

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Takeovers Panel raises red flags over Benjamin Hornigold takeover

Takeovers Panel raises red flags over Benjamin Hornigold takeover

For the second time this year John Bridgeman's attempts to take over Brisbane investment firm Benjamin Hornigold (ASX: BHD) have hit a roadblock. The Takeovers Panel has made a declaration of unacceptable circumstances regarding the deal, stemming from an ongoing concern about the competitiveness of John Bridgeman's offer. NSX...

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ASIC appeals Westpac responsible home loan case

ASIC appeals Westpac responsible home loan case

When the Federal Court last month ruled in Westpac's (ASX: WBC) favour in a case brought by the Australian Securities and Investments Commission (ASIC), the bank said the decision brought clarity to how responsible lending obligations could be interpreted. ASIC had alleged Westpac breached the law in using an automated process based o...

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Smartbank 86 400 launches nationwide

Smartbank 86 400 launches nationwide

Neobank 86 400 has its sights set on the traditional banking institutions in Australia and from today Australians interested in making the switch can open an account. The bank launches with two accounts called Pay and Save, both of which can only be accessed via 86 400's app. Those interested in the app do not even have to switch ...

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Neobank Xinja receives full banking licence

Neobank Xinja receives full banking licence

The Australian Prudential Regulation Authority (APRA) has granted Xinja Bank a full banking licence. This is a milestone for the company, and sees Xinja join Volt, Judo and 86 400 as the fourth 'neobank' to receive the licence. The effect of the licence means that Xinja can now open bank accounts to its early customers. Xi...

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iSignthis shares surge higher as monthly transactions pass $1.1 billion

iSignthis shares surge higher as monthly transactions pass $1.1 billion

Update: After this article was published shares rose further the following day, only to drop significantly after that down to $1.06 each (12 September 2019). Payment identity verifier iSignthis (ASX: ISX) has been one of the fastest risers on the ASX over the past 12 months, with its shares rising from $0.17 each in September 2018 to $1.3...

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Bonitas claims EY report "backfired" against Rural Funds

Bonitas claims EY report "backfired" against Rural Funds

The war of words between short sellers Bonitas Research and Rural Funds Group (ASX: RFF) continues today after the former finally responded to an Ernst & Young (EY) report commissioned by RFF. Instead of responding individually to every one of Bonitas' claims against the company, RFF opted to engage EY to produce a report into the...

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Class action alleges Westpac's super subsidiaries short-changed members

Class action alleges Westpac's super subsidiaries short-changed members

Westpac (ASX: WBC) subsidiaries BT Funds Management and Westpac Life Insurance Services have been hit with a class action from law firm Slater and Gordon (ASX: SGH). The class action alleges that superannuation members were short-changed by the bank's super funds. Slater and Gordon says members who invested in the BT Super for Lif...

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ASX drills Smiles Inclusive on shock $19 million loss announcement

ASX drills Smiles Inclusive on shock $19 million loss announcement

Late on Friday 30th August Smiles Inclusive (ASX: SIL) announced its disastrous FY19 results. Of particular note was its loss of $18.9 million during the financial year; a result that took the market by surprise. Now, the ASX has questioned Smiles over whether this significant loss was something the company should have alerted shareho...

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Online sales push Myer back into the black

Online sales push Myer back into the black

Department store Myer's (ASX: MYR) attempts to play catch-up with the now firmly established world of e-commerce appear to have finally paid off in FY19. The group's online sales increased by 25.6 per cent to $262.3 million in the financial year, following the relaunch of the Myer.com.au online shopfront in September 2018. Thi...

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Headwinds abound as TPG stumbles into 2020

Headwinds abound as TPG stumbles into 2020

The 2019 financial year was unpleasant for telco TPG Telecom (ASX: TPM) to say the least. First, the company was forced to abandon its planned 5G mobile network, what was to be Australia's fourth major mobile network, following the federal government's ban of Chinese-made Huawei 5G technology. Following this setback, the compa...

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The Agency hungry for more acquisitions after Top Level takeover

The Agency hungry for more acquisitions after Top Level takeover

Real estate group The Agency (ASX: AU1) plans to keep expanding despite its latest acquisition raising some financial red flags. The group has announced a capital raise of approximately $4.5 million, which is just higher than the $4.2 million loss it posted in FY19.   Of the amount raised $1.5 million will go toward potentia...

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The Agency defies real estate gloom with revenue boost

The Agency defies real estate gloom with revenue boost

If the results of real estate giant McGrath and industry e-rag Domain are anything to go by, the sector is going through some major turbulence. But that certainly hasn't impacted The Agency (ASX: AU1) which defied the odds in FY19. In spite of the doom and gloom real estate sector that resulted in McGrath posting a $15.6 million l...

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Future expansion on the cards for a fit Healthia

Future expansion on the cards for a fit Healthia

For growing allied health company Healthia (ASX: HLA) FY19 was a year of establishing a solid foundation. The financial year was Healthia's first as an ASX listed entity, and the team has knocked its own expectations out of the park. Underlying revenue exceeded its prospectus forecast by 6.6 per cent, EBITDA was ahead of its prosp...

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Brand write-downs and restructuring drive $149m loss for Retail Food Group

Brand write-downs and restructuring drive $149m loss for Retail Food Group

Store closures and a heavy FY19 loss capture the tone of a challenging year for Retail Food Group (ASX: RFG), a franchisor that is finetuning its focus against a backdrop of significant asset impairments and restructuring costs. Brands are everything in the food business, particularly if brand IP is a key part of your model like RFG ...

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Australian cannabis companies bring in revenue but remain in the red

Australian cannabis companies bring in revenue but remain in the red

Three of Australia's top cannabis companies have released their FY19 results today, and the story is similar across the board. Revenue and income are being generated at a stronger level than in the previous financial year, but all three remain unprofitable. AusCann Group (ASX: AC8) saw its revenues rise by 267 per cent to $1.5 mil...

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