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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Crowdfunding reforms bolster investment pool for Aussie businesses

Crowdfunding reforms bolster investment pool for Aussie businesses

"It's almost creating Shark Tank for the public, or be your own Shark Tank, which is phenomenal from an innovation perspective in Australia," says Crowdfunding.com.au founder Chaz Prezident (pictured). Private Australian businesses will soon no longer need to become public companies if they want to access crowdfunding to rai...

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Yellow Brick Road revives $300m facility hopes with new bank

Yellow Brick Road revives $300m facility hopes with new bank

Financial services company Yellow Brick Road (ASX:YBR) is paving the way for a long-desired securitisation programme as negotiations for a $300 million loan facility get back on track. In late August the group's negotiations with a big four bank were short-lived, but yesterday chairman Mark Bouris announced YBR had entered an exc...

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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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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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Evans Dixon acquires Fort Street to launch new division

Evans Dixon acquires Fort Street to launch new division

Sydney-based stockbroking and financial advisory business Evans Dixon (ASX: ED1) will expand its operations following the acquisition of Fort Street Advisors. The deal, worth 14.3 million shares in Evans Dixon and $23.4 million in cash, will form the basis of a new corporate & institutional division at the company. The new divisio...

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Suncorp confirms sale of life insurance arm delivering bulk shareholder returns

Suncorp confirms sale of life insurance arm delivering bulk shareholder returns

Suncorp's (ASX: SUN) $725 million sale of its life insurance arm to Japanese insurance group Dai-ichi Life is set to deliver windfall returns for shareholders. The sale, announced in early August alongside its FY18 results, is set to deliver approximately $600 million to shareholders according to Suncorp. The sale to Dai-ichi'...

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Rough trot continues for Blue Sky with poor results

Rough trot continues for Blue Sky with poor results

Deteriorating market sentiment towards Blue Sky Alternative Investments (ASX: BLA) dealt a blow to the company's bottom line in FY18 with losses more than tripling year-on-year to $85.6 million. With revenue down 63 per cent at $24.9 million, Blue Sky interim managing director Kim Morison says the market's feelings about the group...

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Yellow Brick Road bank negotiations fall through as company posts loss

Yellow Brick Road bank negotiations fall through as company posts loss

Two days ago Yellow Brick Road (ASX: YBR) claimed it was in exclusive negotiations with a big four bank for a $300 million credit facility, but the financial services group may have jumped the gun. In a statement given to the Australian Stock Exchange (ASX) today, Yellow Brick Road advised negotiations with the major bank to beef up its l...

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Yellow Brick Road to beef up lending with $300m facility

Yellow Brick Road to beef up lending with $300m facility

Update: Since this story was published YBR has advised that negotiations with the bank have terminated. Click here for more.  Financial services group Yellow Brick Road (ASX:YBR) is on track to beef up its loan business after confirming that one of the big four banks is poised to provide it with a $300 million residential mortgage-ba...

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International expansion boosts Lovisa results as it prepares to go online

International expansion boosts Lovisa results as it prepares to go online

Australian jewellery retailer Lovisa (ASX: LOV) made a significant push overseas in FY18, boosting its results as an effect. Revenue was up 21.4 per cent to $217 million and NPAT was also up 23.8 per cent to $36 million. The retailer, still operating entirely as a bricks and mortar outlet, says its international expansion was a key dr...

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Seek marred by trouble in Latin America

Seek marred by trouble in Latin America

Political and economic turmoil in Latin America has blemished Seek's (ASX: SEK) financial year as the company has been forced to write down key assets in the region. The online job agency today reaffirmed a total impairment charge of $178 million it warned investors about earlier this month, comprised of $119 million against the carry...

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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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Domain's loss 'expected' post-IPO

Domain's loss 'expected' post-IPO

Domain (ASX: DHG) has posted a $6.2 million full-year net loss for FY18 following a significant year of transition and restructuring. The online real estate advertiser reported statutory revenue of $286.6 million and a statutory net loss of $6.2 million during its first period as a standalone ASX listed company, which has not yet been a f...

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Capilano shareholders to vote on takeover

Capilano shareholders to vote on takeover

Honey producer Capilano (ASX: CZZ) has announced it is being eyed for potential takeover by a consortium of private equity funds. This morning, the listed company told shareholders of its recommendation to allow the consortium of firms to take over the company. Capilano has entered into a scheme implementation agreement with Bravo Hol...

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Tax agents raided by ATO for alledged phoenix activity and tax avoidance

Tax agents raided by ATO for alledged phoenix activity and tax avoidance

The Australian Tax Office is currently investigating eleven sites across Victoria in relation to alleged phoenix activity and avoidance of tax. Access without notice has been granted at businesses and residential properties across Melbourne to gather information as part of a long-term compliance action into tax mischief. Complaints fr...

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McGrath flags $35 million cash impairment

McGrath flags $35 million cash impairment

Listed real estate group McGrath (ASX: MEA) has flagged it will be hit by a $35 million impairment charge following a "very challenging" FY18. The company, which has been struggling with lower sales volumes this past financial year, has also confirmed it expects reported earnings for FY18 to be around $1 million. McGrath say...

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New TV show set to open Blockchain to the world

New TV show set to open Blockchain to the world

A new weekly business TV show is set to showcase Blockchain companies, cryptoassets and ICOs to a global audience. Coincast TV, created by ICO advisor DigitalX and respected crypto business news platform Multiplier Crypto, will be broadcast on Sky News Business, and syndicated across Apple TV, the Wall St Journal and related social platfo...

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AMP begins the long claw-back, profits to suffer from scandal

AMP begins the long claw-back, profits to suffer from scandal

Financial provider AMP has today revealed its business recovery plan in the first quarterly update since its spectacular fall from grace during the Financial Services Royal Commission. AMP has vowed to "reset the business" which, in April this year, admitted to deliberately and unlawfully charging its customers for services that...

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It's all over red rover for Dover following ASIC undertaking

It's all over red rover for Dover following ASIC undertaking

Dover Financial Services will turn in its financial advisory licence at the end of next week, as an Australian Securities and Investment Commission (ASIC) investigation into the company's 'systematic failings' is ongoing. The financial services company, which was also subject to a Royal Commission grilling earlier this month, ...

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