Myer receives "second strike" on remuneration

Myer receives "second strike" on remuneration

Shareholders of Myer (ASX: MYR) have delivered a "second strike" on remuneration at the company's AGM in Melbourne, with 37.49 percent of proxy votes rejecting the resolution. At perhaps the most important AGM in Myer's history, shareholders backed an aggressive and ongoing campaign from the company's biggest investo...

Read More...
Retail Food Group chairman flags asset sales, imminent "major restructuring"

Retail Food Group chairman flags asset sales, imminent "major restructuring"

The new executive chairman brought in to change Retail Food Group's (ASX: RFG) fortunes says 2019 will be "another demanding year", with asset sales and job cuts looking likely for the for the franchise operator. For Peter George, who has worked on the turnaround of companies including Optus and Asciano, RFG's woes ...

Read More...
One stop shop consultancy bags 2018 Melbourne Young Entrepreneur Award

One stop shop consultancy bags 2018 Melbourne Young Entrepreneur Award

Losing his job in the thick of the GFC turned out to be a blessing in disguise for Travis Erridge (pictured), who has gone on to co-found a succesful business and last night was crowned 2018 Melbourne Young Entrepreneur of the Year. Covering property, supply chains and project management, Erridge's consultancy TM Insight caters to a r...

Read More...
ARA and Roy Morgan forecast Christmas spending to exceed $51b

ARA and Roy Morgan forecast Christmas spending to exceed $51b

The Australian Retailers Association (ARA) and market research group Roy Morgan expect a "bountiful" Christmas this year for stores specialising in electronics, with consumers of all ages set to indulge in new gadgets and technology. Electronics and hi-fi products fall under the groups' 'Other retailing' category whi...

Read More...
Booktopia launches $10m equity crowdfund

Booktopia launches $10m equity crowdfund

Australia's leading online bookseller Booktopia is turning a new page in Australian equity raising with a new crowdfunding scheme to offer 8.1 per cent of the company to investors through the platform Equitise. The Booktopia Group plans to raise up to $10 million at $1 per share, giving Australians a local investment opportunity in a ...

Read More...
Afterpay backs increased powers for ASIC in 'buy now pay later' market

Afterpay backs increased powers for ASIC in 'buy now pay later' market

With the Australian Securities and Investments Commission (ASIC) pitch to have its intervention powers extended in the 'buy now pay later' market, one could be forgiven for thinking Afterpay Touch Group (ASX: APT) would be against the idea. Business has been booming for the Melbourne-based company led by Nicholas Molnar (pictured)...

Read More...
THC Global expands to NZ with medicinal cannabis range

THC Global expands to NZ with medicinal cannabis range

Within weeks of acquiring a Canadian cannabis growing facility, THC Global (ASX: THC) is living up to its name through international expansion into the New Zealand market. The Sydney-based group has secured exclusive rights in New Zealand to import a range medicinal cannabis products based on cannabidiol (CBD) oil extracts from Danis...

Read More...
Inaugural Melbourne Young Entrepreneur Awards to showcase city's business vitality

Inaugural Melbourne Young Entrepreneur Awards to showcase city's business vitality

Trailblazing business pioneers will gather at the Speakeasy Kitchen Bar on Chapel Street this evening for the first ever Melbourne Young Entrepreneur Awards hosted by Business News Australia. Pitted to become the Melbourne business community's night of nights, the awards recognise the city's leading young entrepreneurs aged under ...

Read More...
Why should Myer report its quarterly sales?

Why should Myer report its quarterly sales?

Myer Holdings (ASX: MYR) chairman Garry Hounsell (pictured) has lambasted major shareholder Solomon Lew in a letter to the Australian Stock Exchange (ASX), claiming a "particularly disrupted" trading environment has been the result of sustained attacks from Lew's Premier Investments (ASX: PMV). The letter was in response to ...

Read More...
How integrity can save your website during a redesign

How integrity can save your website during a redesign

Any business owner worth their salt knows that an effective, or ineffective online advertising campaign, can make or break their company's bottom line profit. What they might fail to recognise however, are the red flags associated with digital agencies that are more concerned with making sales rather than delivering ethical outcomes. ...

Read More...
Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Under-siege Myer Holdings (ASX: MYR) has announced it has completed the refinancing of its bank facility, as Solomon Lew's Premier Investments continues its savage attacks on the department store chain. The company has extended the maturity to February 2021 and says this will give Myer the "confidence and ability" to deliver...

Read More...
Catalano lobs new bid to stop Fairfax-Nine merger deal

Catalano lobs new bid to stop Fairfax-Nine merger deal

Former Domain CEO Antony Catalano has confirmed he will mount a court challenge to the merger between Fairfax Media (ASX: FXJ) and Nine Entertainment (ASX: NEC), saying he has the financial backing to acquire a 20 percent stake in his former employer. Catalano says he has a superior proposal to the Fairfax-Nine merger, which was given sha...

Read More...
Businesses urged to watch out for email invoicing scams

Businesses urged to watch out for email invoicing scams

Scamwatch, the competition regulator's website highlighting business scams, is calling on businesses to urgently review how they verify and pay accounts and invoices as reports of business email compromise (BEC) scams have grown by a third this year. "This is a very sophisticated scam, which is why many businesses only realise th...

Read More...
'It takes time to turn this business around', McGrath CEO says

'It takes time to turn this business around', McGrath CEO says

Collapsing sales volumes and the departure of key sales agents and franchisees have hit real estate group McGrath Limited (ASX: MEA) which has booked a full year loss of $63 million on the back of a revenue drop of 23 percent over the previous year. At the company AGM on Friday, McGrath CEO Geoff Lucas revealed the serious issues facing t...

Read More...
DigitalX launches American joint venture

DigitalX launches American joint venture

Blockchain company DigitalX (ASX: DDC) has launched a new joint venture with US-based investment bank and broker-dealer Americas Executions (AmerX) to service the Security Token Offering (STO) marketplace. Called DX Americas, the new entity will provide blockchain and technical advisory services in addition to marketing and public relatio...

Read More...
Moody's forecasts "modest" earnings growth in 2019

Moody's forecasts "modest" earnings growth in 2019

Ratings agency Moody's sees good opportunities for exporters and resources companies this year from a weaker Australian dollar, along with "modest earnings growth" for corporates and a low appetite for increased debt. Moody's Investors Service forecasts the earnings growth will be supported by GDP growth of around 2...

Read More...
Coles starts trading on the ASX

Coles starts trading on the ASX

After an 11-year absence due to its incorporation with Wesfarmers (ASX: WES), one of country's leading supermarkets is back on the Australian Stock Exchange. Shares in Coles Group (ASX: COL) started trading today following a decision from the Supreme Court of Western Australia on Monday to approve a Wesfarmers shareholder vote in...

Read More...
Harold Mitchell resigns on ASIC's Tennis Australia probe

Harold Mitchell resigns on ASIC's Tennis Australia probe

The chairman of Free TV Australia Harold Mitchell has been "forced" to resign following allegations made by the Australian Securities and Investment Commission (ASIC) about his involvement with Tennis Australia. Mitchell revealed news of the acrimonious departure in a brief statement. "It is with regret that I have been...

Read More...
Reject Shop receives "opportunistic" $78m takeover bid

Reject Shop receives "opportunistic" $78m takeover bid

It has been a rough two months for discount retail chain The Reject Shop (ASX: TRS). In October, the company's shares fell 35 per cent in one day in response to a bleak trading update from the company. The dive was off the back of the company announcing it was unlikely to hit its profit guidance of $17.7 million for the first half...

Read More...
Our 'failures' hindered police enforcement of major crime, CBA boss admits

Our 'failures' hindered police enforcement of major crime, CBA boss admits

Police and law enforcement authorities were unable to disrupt money laundering by drug and firearm syndicates because of Commonwealth Bank's "failures", according to CBA CEO Matt Comyn. At the banking royal commission on Tuesday, Comyn made the dramatic admission that the contraventions were extremely serious. CBA paid a...

Read More...
RCR Tomlinson faces class action over share plunge

RCR Tomlinson faces class action over share plunge

Engineering and infrastructure company RCR Tomlinson Limited (ASX: RCR) is facing a class action in the NSW Supreme Court from aggrieved shareholders after it suffered a massive share price plunge in August. Litigation firm Quinn Emanuel Urquhart & Sullivan filed the class action proceedings with financing from Burford Capital, a glob...

Read More...
Freelancer.com moves into freight business with acquisition

Freelancer.com moves into freight business with acquisition

Freelancing and crowdsourcing business Freelancer Limited (ASX: FLN) has moved into the freight and logistics market with the acquisition of Channel 40, an enterprise marketplace connecting freight owners with transport operators. With the acquisition, the company announced the launch of Freightlancer.com, a global marketplace for freight...

Read More...
"Premier Investments should be ashamed": Myer finally breaks its silence

"Premier Investments should be ashamed": Myer finally breaks its silence

After a few weeks of Premier Investments chairman Solomon Lew berating Myer (ASX: MYR) for its poor performance the department store has broken its silence. As part of its letter to its shareholders urging voters to side with the retailer over Lew, the department store chain has finally spat some venom Lew's way. Chairman of Myer ...

Read More...
No earnings guidance from Blue Sky with board change underway

No earnings guidance from Blue Sky with board change underway

The outgoing chairman of Blue Sky Alternative Investments (ASX: BLA) is confident restructuring efforts will help deliver returns, but unlike in previous years the company has not given any earnings guidance for FY2019 at today's annual general meeting (AGM). Chairman John Kain (pictured), who will be replaced by former Hastings Funds...

Read More...
ASIC to take on Harold Mitchell for his involvement in Seven's tennis deal

ASIC to take on Harold Mitchell for his involvement in Seven's tennis deal

Former director of Tennis Australia and prominent media figure Harold Mitchell is in the firing line of the corporate watchdog. The Australian Securities and Investment Commission (ASIC) alleges that Harold Mitchell and former Tennis Australia president Stephen Healy mislead the Tennis Australia board to ensure the Seven Network would get...

Read More...
Fairfax Media shareholders approve $4 billion merger with Nine

Fairfax Media shareholders approve $4 billion merger with Nine

Historic Australian media company Fairfax Media will be no more now that shareholders have approved a $4 billion "merger" with Nine Entertainment. The merger brings the total number of major media organisations in Australia down from five to four, and heralding in the era of mega-media conglomerates with a say in every medium. ...

Read More...
Myer shares tumble again as Solomon Lew says Christmas won't save them

Myer shares tumble again as Solomon Lew says Christmas won't save them

With the Myer AGM just under two weeks away, you can be sure to expect that Solomon Lew and Premier Investments will be gearing up their attacks on the historic retailer. Following the department store's bewildering Friday last week, the result of a leak to The Australian Financial Review about its Q1 sales numbers, Premier Investment...

Read More...
NAB boss takes big pay cut as bank admits to 'failing its customers'

NAB boss takes big pay cut as bank admits to 'failing its customers'


NAB (ASX: NAB) chief executive Andrew Thorburn has taken a $2 million pay cut as the bank admitted to "failures" in its treatment of customers which have "impacted NAB's reputation" which was revealed at the banking royal commission. Thorburn's remuneration was slashed by more than 30 percent from $6.5 milli...

Read More...
Rebel Wilson's legal battle is over after being dismissed from the High Court

Rebel Wilson's legal battle is over after being dismissed from the High Court

Rebel Wilson says she is happy that her long legal bout with Bauer Media is over despite stumbling at the final appeal in the High Court today. The actress failed in her bid to appeal her case regarding defamation damages in the High Court this morning, bringing the lengthy saga to a close. The appeal followed a court order for Wilson...

Read More...
Myer in trading halt after responding to media criticism

Myer in trading halt after responding to media criticism

Shares in troubled retailer Myer (ASX: MYR) have been placed in a trading halt as it prepares its response to allegations that it breached its continuous disclosure allegations. Myer will remain in a trading halt until Monday, and earlier on Friday it released a brief statement to the market saying it had requested the halt as it prepares...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter