Alliance Aviation hits cruising altitude

Alliance Aviation hits cruising altitude

Fly-in fly-out aircraft operator Alliance Aviation (ASX: AQZ) has reported its best first half results ever in 1H20 on the back of record flight hours. The company recorded profit before tax of $15.5 million, up 10 per cent on the prior corresponding period, and total revenue of $151.3 million representing a growth of 9.8 per cent. Al...

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Maurice Blackburn cracks open fresh case against Treasury Wine Estates

Maurice Blackburn cracks open fresh case against Treasury Wine Estates

Class action law firm Maurice Blackburn has uncorked another investigation into Treasury Wine Estates (ASX: TWE), after poor US performance prompted a drastic cut to the company's FY20 forecast.  The move follows a successful class action against the Melbourne-headquartered vintner in 2017 that led to a $49 million settlment...

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Computershare to acquire US registered agent business for $142.9m

Computershare to acquire US registered agent business for $142.9m

Share transfer company Computershare (ASX: CPU) has entered into an agreement to acquire US compliance services business Corporate Creations Enterprises (CCE) for $142.9 million. The acquisition will enable Computershare to expand its US footprint as CCE is one of the leading registered agent providers in the US with over 14,000 clients i...

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Qantas to suspend two major China routes

Qantas to suspend two major China routes

Australia's leading airline Qantas (ASX: QAN) has stopped short of blaming the coronavirus (2019-nCoV) for its decision to suspend two direct services to mainland China. The company has cited rostering challenges as behind the decision to suspend flights connecting Sydney to Beijing and Shanghai from 9 February to 29 March 2...

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Colette by Colette Hayman enters administration

Colette by Colette Hayman enters administration

Australia's challenging fashion retail climate has scalped its second victim in 2020 as handbag and accessories retailer Colette by Colette Hayman falls into voluntary administration. Deloitte Restructuring Services has today announced its partners Vaughan Strawbridge, Sam Marsden and Jason Tracy were appointed voluntary adm...

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Exponential profit growth for hemp hawker Ecofibre

Exponential profit growth for hemp hawker Ecofibre

Just a day after Elixinol's (ASX: EXL) fire sale of Hemp Foods Australia (HFA), another hemp company has reported an encouraging result to the market. Ecofibre (ASX: EOF), one of Australia's largest growers of hemp foods and a seller of hemp-based nutraceuticals, notched a 1883 per cent rise in profit for the first half of FY20. ...

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Temple & Webster boosted by Millennials entering furniture market

Temple & Webster boosted by Millennials entering furniture market

Online furniture and homewares retailer Temple & Webster (ASX: TPW) has followed up its first full year profit result in FY19 with a healthy half yearly result. The company is seeing its pure play model pay off as the Millennial market begins to enter its target demographic, with that gamble paying dividends during 1H20. The group...

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New valuations lift SCA Property profits 130%

New valuations lift SCA Property profits 130%

SCA Property Group (ASX: SCP) is starting to reap the benefits of forking out $573 million on 10 shopping centres in 2018, as strength in non-discretionary retail drives its portfolio value higher. The Sydney-based REIT also known as Shopping Centres Australiasia reports a 129.5 per cent year-on-year jump in net profit afte...

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Medicinal cannabis facilities receive major project status

Medicinal cannabis facilities receive major project status

Three medicinal cannabis cultivation and production facilities in Victoria and South Australia have received major project status from the Federal Government today. The projects, run by medicinal cannabis companies LeafCann, Cannatrek and PhytoGro are expected to create thousands of jobs in the two states and boost the country's medic...

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GetSwift takes majority stake in Serbian ICT firm for $9.1m

GetSwift takes majority stake in Serbian ICT firm for $9.1m

A pending class action has failed to push software company GetSwift (ASX: GSW) off the acquisition path as it seeks to cement its footprint in the European market. The company has purchased a majority stake in Serbia-based information and communications technology (ICT) firm Logo d.o.o. for 5.5 million euros (AUD$9.1 million),. GetSwi...

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Westpac hit with US class action lawsuit

Westpac hit with US class action lawsuit

New York-based law firm Rosen Law Firm has filed a class action lawsuit against big four bank Westpac (ASX: WBC; NYSE: WBK) over the AUSTRAC scandal. The lawsuit seeks to recover damages for investors in the US on behalf of purchasers of Westpac securities on the New York Stock Exchange between November 11, 2015, and November 19, 2019 inc...

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Elixinol sells Hemp Foods Australia to Chinese buyer

Elixinol sells Hemp Foods Australia to Chinese buyer

Hemp Foods Australia was the reason Colorado-based Elixinol LLC listed on the ASX in the first place in January 2018, with the pair joining forces to create a global brand. One of Australia's largest cannabis and hemp companies will rack up more than $17 million in impairment charges after a decision to exit two major subsidiaries. ...

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Fear spreads easily. That's what gives the Wuhan coronavirus economic impact

Fear spreads easily. That's what gives the Wuhan coronavirus economic impact

One way to count the cost of the Wuhan coronavirus is by how many people catch it, and then how many die. Another is the direct financial costs of public health measures to treat those infected and contain its spread. Yet another is the wider economic cost. But how to calculate this? Some suggest a neglible impact on the global econom...

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Murray River Organics flags heat damage ahead of capital raising

Murray River Organics flags heat damage ahead of capital raising

With a farm lease exit requiring a $1.32 million surrender fee and a $4 million short-term loan looming with NAB, bad weather is the last thing dried fruit company Murray River Organics Group (ASX: MRG) needs right now. On Tuesday the company was expected to come out of a trading suspension that has been in place since late November, but ...

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Nuchev trumps expectations in first report since listing

Nuchev trumps expectations in first report since listing

Goat milk infant formula player Nuchev (ASX: NUC) has beaten prospectus predictions in its first quarterly report to the ASX this morning. Both sales volumes (measured in metric tonnes) and revenue came out comfortably on top of prospectus estimates released prior to the group's $48.7 million IPO. During the first half the company...

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Economies are like unruly teenagers: How tech is using behavioural analysis to help businesses

Economies are like unruly teenagers: How tech is using behavioural analysis to help businesses

Predicting which way an economy is going to swing isn't easy. However, there are times when forecasting the winds of change are a lot tougher than others. 2019 was another stark reminder to world leaders, banks and analysts that the nuances of economics are, at best, unpredictable. In its review of the global economy in 2019, the ...

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SA Chief Entrepreneur: New Adelaide innovation hub to lift business superstars

SA Chief Entrepreneur: New Adelaide innovation hub to lift business superstars

There's no shortage of ideas in the Festival State. While outsiders might perceive South Australia as the small, quiet, wine-sipping cousin of Victoria, the state's entrepreneurial scene is growing fast. Perhaps this is best represented by its new innovation hub Lot Fourteen, which once built will be one of the Southern Hemisp...

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Hailstorm claims add up for Suncorp

Hailstorm claims add up for Suncorp

Insurer Suncorp (ASX: SUN) has received more than 26,000 claims so far this month relating to inclement weather across the east coast, after already estimating $519 million in natural hazard costs for the first half of FY20 due to bushfires, storms and hail. The company has now declared two storm events for the current financial period: t...

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Primewest to float $288m commercial property IPO

Primewest to float $288m commercial property IPO

Property fund manager Primewest has proposed a fresh initial public offering (IPO) worth almost three times as much as its own $100 million IPO in November.  The Perth-based company founded by John Bond, Jim Litis and David Schwartz (pictured left to right) has been a transactional powerhouse over the past three months, and appe...

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Kangaroo Island Plantation Timbers confirms 90% of trees "no longer productive"

Kangaroo Island Plantation Timbers confirms 90% of trees "no longer productive"

Kangaroo Island Plantation Timbers (ASX: KPT) has confirmed that 90 per cent of its trees on the island are "no longer productive" following the raging bushfires on KI that decimated most of the western half of the island in January. KPT says because the fire was so intense it burnt all the way up to the canopy of the forest. ...

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Webjet strikes back at "inaccurate" Morgan Stanley report

Webjet strikes back at "inaccurate" Morgan Stanley report

Australia's major travel companies were slogged on the ASX yesterday as shareholders panicked about the threat of the coronavirus to the tourism sector. At first glance it appeared as if Webjet (ASX: WEB) was the hardest hit in yesterday's landslide sell-off of tourism stocks, but the company was suffering from a bout of another u...

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Centuria launches $174 million takeover bid for New Zealand real estate fund manager

Centuria launches $174 million takeover bid for New Zealand real estate fund manager

Investment manager Centuria Capital Group (ASX: CNI) has launched a bid to take over one of New Zealand's leading real estate funds management platforms Augusta Capital Limited for $174 million. If the takeover is successful Centuria would integrate Augusta into its own platform and grow assets under management (AUM) by $1.9 billion t...

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Gadens mulls iSignthis class action

Gadens mulls iSignthis class action

National law firm Gadens is investigating a possible class action against payment identity verifier iSignthis (ASX: ISX), adding salt to the wounds of a company that has been suspended from trading since October and has a court case of its own pending against the ASX. The Melbourne-based fintech founded and led by CEO John Karantzis has c...

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oOh!media founder and CEO to step down after 30 years

oOh!media founder and CEO to step down after 30 years

The founder of oOh!media (ASX: OML) Brendon Cook has announced his intention to step down from his role of managing director and CEO of the advertising and media company. His resignation follows 30 successful years leading the business made famous for its unmissable billboards and digital signage campaigns. Cook will remain on the boa...

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Profit growth outlook cut in half for Treasury Wine Estates

Profit growth outlook cut in half for Treasury Wine Estates

Treasury Wine Estates (ASX: TWE) may have seen profits grow at home and in Asia recently, but challenging market conditions in the US have led to a hangover that will need time for recovery. In the company's unaudited results released yesterday, Treasury noted net profit after tax (NPAT) for the first half was likely to be up 5 per ce...

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Coles and Australian Venue Co extend leases with HPI

Coles and Australian Venue Co extend leases with HPI

Executives at Hotel Property Investments (ASX: HPI) will be in good spirits today after a lease extension was reached with a major tenant for its pubs and taverns across Queensland. Queensland Venue Company (QVC), a joint venture between Coles Group (ASX: COL) and Australian Venue Co, has agreed to extend 28 leases with HPI that...

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Tech startup Lumin Sports to raise capital for global expansion

Tech startup Lumin Sports to raise capital for global expansion

An Adelaide-based sports tech startup that already has several international cycling teams on its books is about to sprint into its next stage of growth through a $750,000 capital raising round. Riding the slipstream of Australia's global leadership in sports science and data, Lumin Sports Technology has garnered interest in its ...

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Healthia makes US footprint with 3D-printed orthotics

Healthia makes US footprint with 3D-printed orthotics

Diversified health business Healthia (ASX: HLA) is exporting its proven iOrthotics business model to the US with the launch of a 3D-printed orthotics manufacturing lab in New York City. The Brisbane-based company backed by Shark Tank shark Glen Richards has secured a five-year lease for a facility in Astoria, Queens, where an HP Fusi...

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Macquarie staff and CEO in German short selling probe

Macquarie staff and CEO in German short selling probe

Up to 60 current and former Macquarie staff including CEO Shemara Wikramanayake (pictured) have been confirmed as suspects in a German investigation into historical short-selling activities. As reported by the ABC, the investigation revolves around a legal loophole called "cum-ex trades" where two parties claim ownership of the ...

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Lights to stay on in Adelaide as new electricity interconnector approved

Lights to stay on in Adelaide as new electricity interconnector approved

The Australian Energy Regulator (AER) has approved an electricity interconnector linking South Australia to New South Wales on paper, describing the concept as "robust" and in the best interest of South Australian consumers. While the company behind the proposed project, Adelaide-based ElectraNet, must still complete a test of t...

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