IPH threatens QANTM-Xenith merger with counterbid

IPH threatens QANTM-Xenith merger with counterbid

Intellectual property company IPH (ASX: IPH) is upping the ante in its courtship of Xenith (ASX: XIP), putting in a higher takeover bid it claims will bring greater value than a merger in the works with QANTM Intellectual Property (ASX: QIP). Xenith knocked back IPH's $1.80 per share offer in November, opting instead for an all-scrip ...

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Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

After months of withholding notes from interviews of current and former AMP representatives, law firm Clayton Utz has finally coughed up documents requested by the Australian Securities and Investments Commission (ASIC). The notes formed the basis for Clayton Utz's October 2017 report on on fees for no service (FFNS) that was consider...

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Aussie AI ace Appen to acquire US business for up to $428M

Aussie AI ace Appen to acquire US business for up to $428M

Update: On 12 March Appen announced its $285 million placement to help fund the acquisition was successfully completed.  Machine learning and AI company Appen (ASX: APX) expects a material increase in its revenue and customer base following a binding agreement to acquire San Francisco-based Figure Eight Technologies, Inc. The Syd...

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Australian Ag Co estimates damages, cattle loss from floods

Australian Ag Co estimates damages, cattle loss from floods

Beef producer Australian Agricultural Company (ASX: AAC) will need to repair thousands of kilometres of boundary fences now that floods have receded in North Queensland, but the positive news is it appears cattle losses were lower than expected in some areas.  As a preliminary estimate drawing from on-the-ground surveys, mi...

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The woman who denied retirement to create a multi million-dollar empire

The woman who denied retirement to create a multi million-dollar empire

When Deb Farnworth-Wood first moved to Australia with her husband, the pair were a couple of UK expats who were ready to chase the sunburnt and sandy dream of a Gold Coast retirement. After only a couple of weeks in the country however, the seasoned entrepreneur decided to forgo R&R and instead dive headfirst into a new career journey...

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Kaufland announces its first Australian distribution centre in Melbourne

Kaufland announces its first Australian distribution centre in Melbourne

German supermarket giant Kaufland will open its first dedicated Australian distribution centre at the Merrifield Business Park in Melbourne's north. Kaufland will construct a 110,000 sqm purpose-built distribution centre to service their Australian stores on a 28-hectare site in Merrifield. The facility will include an extensive t...

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Mark Zuckerberg lays out a future for Facebook that promises to be private

Mark Zuckerberg lays out a future for Facebook that promises to be private

In just a few short years Facebook went from one of the most popular social media platforms, beloved by millions, to one that its users no longer trust. Though privacy issues were a problem for Facebook pre-2018 it was the Cambridge Analytica scandal that led to many vowing to ditch the social media site. Bots, political misinformatio...

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Manikay ups the ante in MYOB takeover spat

Manikay ups the ante in MYOB takeover spat

Hedge fund Manikay Partners has increased its shareholding in business management business MYOB (ASX: MYO) a day after it publicised its criticism of a potential takeover of MYOB. Manikay now holds 11 per cent of MYOB shares, up from 9.99 per cent. The increase in shareholding comes after the hedge fund sent a letter to MYOB expressin...

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Rosella partners with Kagome Australia for new traceable tomato products

Rosella partners with Kagome Australia for new traceable tomato products

The need for transparency in the food industry is becoming more important as customers are starting to demand to know where their food is grown. This development in the sector is reflected in the changes major Australian food producers are making, and Aussie favourite Rosella is leading the charge. Rosella has announced a partnership ...

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Australian retailers continue to flounder in 2019

Australian retailers continue to flounder in 2019

The beginning of 2019 has not shown any improvement for Australian retailers, clawing only a tiny bit of sales back during the first month of the year. According to the January retail figures released by the Australian Bureau of Statistic (ABS) sales increased by just 0.1 per cent from December 2018. This slight increase follows the d...

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Myer claws back into the black but sales still down

Myer claws back into the black but sales still down

In a rare bit of positive news for Australian retail giant Myer (ASX: MYR) the company has reported a reasonably positive first half for FY19. Though total sales at the department store were down 2.8 per cent in 1H19, the company recorded a NPAT of $41.3 million (up 3.1 per cent from 1H18). Statutory NPAT during the half was $38.4 mil...

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Merino Country woollen undies strike the right baa-lance

Merino Country woollen undies strike the right baa-lance

For many small businesses a high-profile defence contract would be like hitting the jackpot, but for woollen apparel manufacturer Merino Country it was a stepping stone to greater things.  With 20,000 customers worldwide, the Brisbane-based company celebrated 25 years in business last year and has come a long way from its o...

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Major MYOB shareholder refuses to back takeover deal

Major MYOB shareholder refuses to back takeover deal

A major shareholder in business management company MYOB (ASX: MYO) has gone public with its refusal to back the $2.2 billion takeover proposal by a private equity firm. In a letter sent to MYOB and ASIC, and posted on the ASX today by MYOB, major shareholder Manikay Partners has expressed its disagreement with the proposed takeover of MYO...

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Convenience culture to shift shopping centre mix

Convenience culture to shift shopping centre mix

"Whilst the retail landscape is changing, neighbourhood shopping centres are relatively insulated from the overarching threat of e-commerce," says Nick Willis of CBRE.  The shopping centres of the future will increasingly be blended with other types of property, according to a recent report from real estate agency CBRE...

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Will new funding round propel iVvy to the big leagues of software tech?

Will new funding round propel iVvy to the big leagues of software tech?

Software as a Service (Saas) outfit iVvy is taking its cloud-based event and venue management platform to new heights with a $5 million Series A funding round to accelerate global expansion. After disrupting the meeting and events industry in Australia and expanding internationally to include 12,000 users in 13 countries, the Gold Coast-h...

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Rollercoaster ride for Longtable amidst capital raise and Maggie Beer acquisition

Rollercoaster ride for Longtable amidst capital raise and Maggie Beer acquisition

Shares in Longtable (ASX: LON) rose 36 per cent between in the lead-up to 28 February, right before a trading halt relating to its acquisition of Maggie Beer, a capital raise, and the group's 1H19 results. After the trading halt was lifted, shares fell back down to earth. Premium food producer Longtable (ASX: LON) has had a rollercoas...

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Online fashion retailer THE ICONIC increases market share

Online fashion retailer THE ICONIC increases market share

Online fashion retailer, THE ICONIC, has increased its market share in Australia and New Zealand from 9 to 15 per cent as it confirms its status as one of the fastest growing pure online plaer in both countries. The fashion and sports retailer released a trading update which also reveals it now sells 1,000 brands and 60,000 products on it...

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Retail Food Group shutting stores and slashing costs on heavy losses

Retail Food Group shutting stores and slashing costs on heavy losses

Under siege fast food franchise operator Retail Food Group (ASX: RFG) has closed 93 of its stores in the first half of the financial year and plans to shutter more as it revealed a loss of $111 million. RFG, which operates Donut King, Gloria Jeans, Michel's Patisserie, Brumby's and Crust Gourmet Pizza says it will continue to slas...

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Longtable scoops up the rest of Maggie Beer

Longtable scoops up the rest of Maggie Beer

After 40 years, one month and nine days Maggie Beer has decided to sell her eponymous food brand. It has been a long time coming for Maggie who first sold 48 per cent of the brand to Melbourne based food company Longtable (ASX: LON) in 2016. Speaking to Business News Australia Beer said the decision to sell came at the right point in ...

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Bubs and Bega buddy up for new baby formula

Bubs and Bega buddy up for new baby formula

Infant formula and baby food producer Bubs (ASX: BUB) has entered into a partnership with dairy giant Bega (ASX: BGA) to produce a new goat milk formula for infants. Bubs and Bega subsidiary Tatura will work together to convert fresh goat milk into formula in one step, without intermediate spray dry to whole milk powder. Bubs says this meth...

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Macquarie Telecom records another strong result

Macquarie Telecom records another strong result

For the past nine financial halves data centre operator Macquarie Telecom (ASX: MAQ) has recorded growth in revenue and profit. The half ending December 31 was buoyed by continued investments into the group's data centres, positioning the company well for the serious demand Australian businesses have for data storage. Revenue was ...

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Slater & Gordon in sell-off after senior lenders set free

Slater & Gordon in sell-off after senior lenders set free

Restructuring efforts from law firm Slater & Gordon (ASX: SGH) have failed to ward off a loss of $10.3 million for 1H19, as the group continues its path to recovery after a woeful foray into the UK market. The result compares to a profit of $141.2 million at the end of 2017, a figure that was only supported by a on...

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Afterpay shares dive on first half loss

Afterpay shares dive on first half loss

Just one day after Afterpay (ASX: APT) slipped through a Senate report on the buy-now pay-later (BNPL) sector without a scratch, the company is facing the rebuke of shareholders on the back of its first half results. Shares are down after the company announced it suffered an increase to its first half loss after tax of 3043 per cent to $2...

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Blackmores chief to step down

Blackmores chief to step down

The head of vitamin and supplements company Blackmores (ASX: BKL) will be stepping down after just 18 months in the role. The resignation of chief executive officer Richard Henfrey (pictured) was announced this morning, a week after the group forecast short-term impacts on profit growth due to softened conditions in China and the cos...

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Adairs puts retail concerns to bed with comfy online growth

Adairs puts retail concerns to bed with comfy online growth

Bedding retailer Adairs (ASX: ADH) improvd its online sales in the first half of 2019 and notched an uptick as a result. During the first half online sales contributed 15 per cent of Adairs' total sales, with sales via the company's online store up 42 per cent to $24.3 million. Overall sales were up 10.6 per cent to $164.4 mil...

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ASIC swoops on GetSwift with civil proceedings

ASIC swoops on GetSwift with civil proceedings

GetSwift (ASX: GSW) and its directors Bane Hunter and Joel Macdonald are once again in the firing line. The Australian Securities and Investment Commission (ASIC) has today launched civil proceedings against GetSwift in the Federal Court of Australia in Melbourne. The proceedings relate to a series of ASX announcements made by GetSwif...

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Village Roadshow legacy CEO Graham Burke to retire amid feud reports

Village Roadshow legacy CEO Graham Burke to retire amid feud reports

Graham Burke has announced that he will retire from the top job at Village Roadshow (ASX: VRL) after having spent more than 30 years as its inaugural CEO. Burke first joined Village Roadshow at age 14 as a ticket collector and floor sweeper before becoming managing director of Village Drive-In Limited at 23. When Village Roadshow list...

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Medicinal cannabis players see green with new deals

Medicinal cannabis players see green with new deals

There have been some major cannabis deals done today in the hallowed halls of the Australian Stock Exchange. The two deals are set to increase access for patients looking for medicinal cannabis and improve the quality of medicines being created in Australia. First, Althea (ASX: AGH) has signed a supply and distribution agreement with ...

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Webjet flying high on record performance

Webjet flying high on record performance

Flights and hotels comparison service Webjet (ASX: WEB) had a record first half with financial highlights up across the board. The company saw a 42 per cent increase in earnings to $58 million, a 33 per cent increase in revenue to $175.2 million, and a 61 per cent rise in NPAT to $38.3 million. The company's hotel play, WebBeds, c...

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Inside Australia's top venues offering exclusive deals on conferences, meetings and events

Inside Australia's top venues offering exclusive deals on conferences, meetings and events

Whether on Brisbane's riverside, the sunny Gold Coast or in the heart of Melbourne's bustling CBD, each of these venues has something special to offer when it comes to hosting a great conference, meeting or event. These venues are complete with state of the art facilities and the versatility to accomodate any event from an intimat...

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