AGL walks away from Vocus takeover

AGL walks away from Vocus takeover

AGL Energy (ASX: AGL) had four weeks to conduct its due diligence for a potential takeover of Vocus (ASX: VOC), but it only needed one. Following in the footsteps of Swedish company EQT which had pulled out of its $3.3 billion bid for the telco, AGL has determined its lower offer of $3 billion for Vocus wouldn't be worthwhile eit...

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Will Australia become Asia's 'clean green' medicinal cannabis supplier?

Will Australia become Asia's 'clean green' medicinal cannabis supplier?

From powdered milk to multivitamins to fresh fruit, Australian and New Zealand products command a health premium in Asian markets but can the medical cannabis industry leverage this 'clean green' image and follow suit?  Cann Group (ASX: CAN) CEO Peter Crock believes they will, and this was a driver for the company securing a ...

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ANZ sacks NZ chief citing "concerns" over transactions

ANZ sacks NZ chief citing "concerns" over transactions

Australia and New Zealand Banking Group (ASX: ANZ) has announced its New Zealand business CEO David Hisco (pictured) is stepping down after an internal review of his personal expenses. The board has raised concerns about the "characterisation of certain transactions" while the decision also follows ongoing health ...

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Honey Birdette hits back: 'There will be nipples. And plenty of them'

Honey Birdette hits back: 'There will be nipples. And plenty of them'

Multinational lingerie brand Honey Birdette has launched a new "Red Alert" ad campaign to fight against increased censorship it has received following pressure from a conservative lobby group. With the hashtag #notaskingforit, the Australian company's new campaign features censorship banners across the front of every image. ...

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Losses deepen for McGrath but can new CFO turn the tide?

Losses deepen for McGrath but can new CFO turn the tide?

A new CFO will soon fill the void left by the departure of Glynn Wright at listed property company McGrath (ASX: MEA) in March, with Howard Herman set to start in the role on 24 June. But Herman, who was recently CFO at NASDAQ-listed Australian apparel business Naked Brand Group, will have a tough job on this hands as the c...

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Ousted founder pulls out of Smiles Inclusive board bid

Ousted founder pulls out of Smiles Inclusive board bid

Dental care company Smiles Inclusive (ASX: SIL) has today confirmed an attempt to hold a second vote over the board's future has been withdrawn by ousted founder Mike Timoney (pictured). Timoney and ex-chairman David Herlihy were voted off the board by shareholders at an extraordinary general meeting (EGM) held last month, b...

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Evans Dixon CEO steps aside to lead struggling US fund

Evans Dixon CEO steps aside to lead struggling US fund

Amidst falling profits and complaints over high fees and investment recommendations for its own in-house funds, financial advisory firm Evans Dixon (ASX: ED1) will see its CEO Alan Dixon (pictured) step aside to focus on the company's US residential property fund. Executive chairman David Evans will act as a temporary CEO while a...

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Afterpay faces AUSTRAC audit into anti-money laundering compliance

Afterpay faces AUSTRAC audit into anti-money laundering compliance

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of fintech Afterpay's (ASX: APT) after identifying concerns over compliance with financial crime legislation. The announcement prompted a 12.6 per cent drop in APT shares this morning down to $22.41. The financial intelligence agency ha...

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From Tinybeans big things grow

From Tinybeans big things grow

Has Australian-founded social media network Tinybeans (ASX:TNY) found the sweet spot between keeping user data strictly private and also monetising it?  With 3.2 million registered users and expectations cash flow will start to break even by the end of this calendar year, the now US-headquartered company is starting to reap the rewar...

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Stars align for THC Global after cannabis manufacture licence granted

Stars align for THC Global after cannabis manufacture licence granted

One of Australia's leading listed cannabis companies is on track with its 'farm to pharma' business model after crossing a key regulatory hurdle. Shares in THC Global (ASX: THC) rose 12.5 per cent this morning to $0.50 after the company announced its subsidiary Canndeo was granted a manufacture licence from the Australian Offi...

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Afterpay shares rise as capital raising exceeds target

Afterpay shares rise as capital raising exceeds target

Buy-now pay-later (BNPL) heavyweight Afterpay (ASX: APT) have surged 9.5 per cent this morning to $26.47 after an institutional placement raised $317 million. Those who took part in the capital raising will already be reaping the rewards as the new shares were issued at $23 each, while a $30 million share purchase plan (SPP) is on its way...

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Wesfarmers to buy online retailer Catch Group for $230m

Wesfarmers to buy online retailer Catch Group for $230m

Perth-based Wesfarmers (ASX: WES) is entering new territory in e-retail through an agreement to buy Catch Group, a homegrown company that has recently beefed up its warehouse capacity in Melbourne.  If the $230 million transaction goes ahead, Catch Group will operate independently of Wesfarmers' other retail businesses Bunni...

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Construction entrepreneur thinks outside the box

Construction entrepreneur thinks outside the box

On the back of projects ranging from office fit-outs to schools to nightclubs, Chapcon Design & Construct is growing at a swift pace as revenue doubles each year. Founded by carpenter Nick Chapman in 2011, the group's portfolio of projects has been buoyed by word-of-mouth and strengthened by its track record and willingness to tak...

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Afterpay to raise $330m for US expansion

Afterpay to raise $330m for US expansion

Shares in Australian fintech Afterpay (ASX: APT) have entered a trading halt amidst the announcement of a $330 million capital raising aimed at funding overseas expansion. In a release today, the company says its experience to date "confirms that the US scale-up opportunity is clear" and a strong growth strategy is needed to ach...

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Booktopia turns a new page after failed crowdfund attempt

Booktopia turns a new page after failed crowdfund attempt

Online bookseller Booktopia is looking for new investment sources after an ambitious crowdfunding scheme failed to achieve its minimum target. The company's offer on Equitise was due to expire in three days and would have needed investments of at least $3 million to go ahead, but had only reached commitments of $892,750. The decis...

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Australia's largest cannabis company enters JV with RFI

Australia's largest cannabis company enters JV with RFI

Major Australian cannabis player Elixinol (ASX: EXL) expects its US subsidiary will have greater exposure to markets thanks to a strategic partnership secured with RFITD Holdings. The new alliance links Elixinol to RFI, a New York-based food ingredients manufacturer that has been in business since 1989. The two new partners ...

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AGL makes $3 billion bid for Vocus

AGL makes $3 billion bid for Vocus

AGL Energy (ASX: AGL) is having a second crack at acquiring internet service provider Vocus (ASX: VOC) after Swedish suitor EQT backed down from its bid last week.  In late May AGL confirmed it had already made a confidential offer for the telco which owns the Dodo and iPrimus brands, but an inability to reach acceptable due diligenc...

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Uber comes out on top in Fair Work investigation

Uber comes out on top in Fair Work investigation

The results of an investigation conducted by the Fair Work Ombudsman is sure to have Uber smiling, with the watchdog confirming that Uber is not an "employer" in the traditional sense. The investigation was launched to determine whether Uber's Australian operations could be considered as that of an employer, the natural resu...

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Are businesses taking the threat of cybercrime seriously?

Are businesses taking the threat of cybercrime seriously?

The news that Australian National University suffered from a massive hack, seeing 19 years of data stolen made headlines earlier this week. According to the ABC names, addresses, dates of birth, phone numbers, personal email addresses and emergency contact details, tax file numbers, payroll information, bank account details, and passport ...

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Australian Family Lawyers to make ASX debut this week

Australian Family Lawyers to make ASX debut this week

A backdoor listing of Australian Family Lawyers (ASX: AFL) has been approved by the stock exchange with trading expected to begin on Friday this week. Founded by Edward Finn in 2015, the law firm aims to disrupt the conventional wisdom of relationship-driven business development in the legal profession, instead opting for an approach...

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LiveTiles launches AI-driven data security solution with Microsoft

LiveTiles launches AI-driven data security solution with Microsoft

Within weeks of becoming a launch partner for Microsoft's SharePoint home sites, Australian-founded LiveTiles (ASX: LVT) has announced the launch of a new security platform for Office 365. The company's new AI-driven, data-centric security solution has been launched in conjunction with Nucleus Cyber, following a strategic par...

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Visitors flock to South Australia for record breaking 2019 Adelaide Fringe

Visitors flock to South Australia for record breaking 2019 Adelaide Fringe

International and interstate visitors to South Australia came in droves to the 2019 Adelaide Fringe festival, up 72 per cent from 2018. Almost $40 million was spent by interstate and international visitors at the event, up 24 per cent on last year, thanks to the 35,000 that flooded into SA during Mad March. In total the much-loved art...

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Hemp licences granted to Murray River Organics and Althea

Hemp licences granted to Murray River Organics and Althea

Two ASX-listed companies have received regulatory breakthroughs today after receiving hemp cultivation licences by Agriculture Victoria. Shares in Murray River Organics (ASX: MRG) and Althea (ASX: AGH) rose by around 6.4 per cent and 10.2 per cent respectively in early trading. The licence, formally known as an 'Authorit...

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Swedish suitor loses interest in Vocus

Swedish suitor loses interest in Vocus

Shares in internet service provider Vocus (ASX: VOC) fell almost 15 per cent at market opening this morning after Swedish company EQT decided to scrap its $3.3 billion takeover offer for the company. On 27 May EQT made a non-binding bid at $5.25 for the Melbourne-based group which owns the iPrimus and Dodo brands, representing a 35 per ce...

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Ousted Smiles Inclusive founder escalates vote tampering claims

Ousted Smiles Inclusive founder escalates vote tampering claims

The founder of Smiles Inclusive (ASX: SIL) has made it clear he will not go quietly, with continued allegations there were voting irregularities at the EGM where he and former chairman David Herlihy were removed from the board.  Last week the embattled Gold Coast-based dental company, whose shares have fallen 85 per cent since O...

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ASIC charges former Octaviar CFO with fraud

ASIC charges former Octaviar CFO with fraud

Just two years after he was banned from managing a corporation and ordered to pay $205 million to aggrieved shareholders in a failed fund, former Octaviar CFO David Anderson has been charged with 26 counts of fraud. As a publicly listed company with interests in the financial services, travel, leisure and childcare sectors, Gold Coas...

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Althea launches medicinal cannabis prescriber platform in the UK

Althea launches medicinal cannabis prescriber platform in the UK

Following the success of its prescriber platform in Australia, listed cannabis company Althea (ASX: AGH) has launched a similar set-up in the United Kingdom. Called Althea Concierge UK the medical education platform, first launched in Australia in September 2018, provides clinical evidence for healthcare professionals looking to prescribe...

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GetSwift shares back on deck after trading lockdown

GetSwift shares back on deck after trading lockdown

A clarification has seen GetSwift shares fall back down to earth by more than 10 per cent in afternoon trading.  Shares in GetSwift (ASX: GSW) are trading once more after the logistics group responded to ASX concerns over an undisclosed partnership with a Kuwaiti fast food company. Trading was suspended for the embattled tec...

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Get creative landlords: CBD retail supply hits new high

Get creative landlords: CBD retail supply hits new high

Real estate agency CBRE says retailers must harness creativity and innovation if they are to increase their wallet share, while landlords need to recalibrate their offerings in response to changing market conditions. The company's Q1 Retail MarketView found 65,000sqm of new CBD retail supply is slated nationally in 2019, representing ...

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Uniti Wireless pursues aggressive growth after $15 million raise

Uniti Wireless pursues aggressive growth after $15 million raise

Adelaide-based telecommunications company Uniti Wireless (ASX: UWL) has raised $15 million in order to pursue an "aggressive" growth strategy. The company raised the $15 million from a placement of 15 million new shares at $1 per share, representing a premium of 26 per cent. The company sought to raise $10 million minimum bu...

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