How to protect your business from the threat of e-fraud

How to protect your business from the threat of e-fraud

Cash flow is the life blood of any business, but managing it can be difficult. According to Westpac and Deloitte, small businesses in Australia are spending up to one working day every week chasing invoices that's a lot of time. During that tunnel-vision slog, where business owners become buried headfirst in processes and manageme...

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Keybridge ditches takeover of underperforming Yowie

Keybridge ditches takeover of underperforming Yowie

Keybridge (ASX:KBC) has decided to not proceed with its proposed takeover of confectionary company Yowie (ASX:YOW). The company says that after considering Yowie's quarterly cashflow report, which Keybridge described as "disappointing", it will not pursue the takeover. Yowie reported a significant operating loss, a nearl...

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Acquisitions give Darrell Lea owners chunk of $1B healthy snack market

Acquisitions give Darrell Lea owners chunk of $1B healthy snack market

The owners of iconic Australian confectionery company Darrell Lea are capitalising on trends towards more frequent and healthier snacking, through the acquisition of eight brands in the growing market segment. RiteBite Group, an entity recently formed by Darrell Lea's Sydney-headquartered owner Quadrant Private Equity, last month purc...

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Australian businesses lose $7.2 million from email scams in 2018

Australian businesses lose $7.2 million from email scams in 2018

Email scams hit Australian businesses more than 5800 times in 2018, with losses exceeding $7.2 million according to the Australian Competition and Consumer Commission ('ACCC'). The ACCC's Targeting Scams report details how sophisticated email scams hit Australian businesses at a 53 per cent increase compared to 2017. This ...

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Melbourne tech startup A Cloud Guru raises $46M

Melbourne tech startup A Cloud Guru raises $46M

A fast-growing enterprise technology company specialising in online cloud computer training has completed one of the biggest funding rounds in Australia to date in 2019, with backing from domestic and US investors. A Cloud Guru (ACG) has successfully closed a growth equity investment of USD$33 million (AUD$46.8 million), led by US-ba...

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Anthony Catalano acquires Nine's regional media and printing business

Anthony Catalano acquires Nine's regional media and printing business

Anthony Catalano, the former CEO of Domain, has acquired Nine's (ASX: NEC) Australian Community Media ('ACM') and printing business for $115 million. The cash proceeds of the sale are expected to be around $115 million, subject to post completion adjustments of which $10 million will be paid in 12 months. Nine expects to use t...

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Slater & Gordon files class action against Vocus

Slater & Gordon files class action against Vocus

Disgruntled shareholders in Vocus Group (ASX: VOC) are taking legal action against the Australian telecommunications company over its FY17 earnings falling well short of guidance by around $64 million. Vocus today announced it had been served with a class action proceeding filed by Slater & Gordon (ASX: SGH) i...

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Zip Co revenue soars as new partners come on-line

Zip Co revenue soars as new partners come on-line

Shares in BNPL (buy now pay later) company Zip Co (ASX: Z1P) have surged higher today after the Sydney-based group reported a 20 per cent lift in revenue for the third quarter. Sentiment is also strong for the market darling with new partners like Chemist Warehouse, General Pants and Lorna Jane joining the platform, and the official ...

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Australia the world's fastest-growing medicinal cannabis market

Australia the world's fastest-growing medicinal cannabis market

A leading supplier of medicinal cannabis increased its Australian patient numbers by 27 per cent over a three-week period in April, representing 10 new patients every business day. In an interview with Business News Australia earlier this month, Althea Group (ASX: AGH) managing director and founder Josh Fegan said patient numbers were &qu...

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Record results for Freelancer as global expansion continues

Record results for Freelancer as global expansion continues

The world's largest freelancing and crowdsourcing marketplace Freelancer (ASX: FLN) achieved a record gross payment volume of $204.3 million in the first quarter, representing year-on-year growth of 25.6 per cent. In an announcement today, the company highlighted cash receipts also hit a record of $14 million after rising 15.8 per cen...

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Indigenous honey enterprise abuzz after Star Entertainment deal

Indigenous honey enterprise abuzz after Star Entertainment deal

Star Entertainment Group (ASX: SGR) has committed to sourcing 'sugarbag' native honey from the local Aboriginal community on Stradbroke Island in Queensland, as part of a pilot trial that will be boosted to include 140 hives. Since November 2017, representing the island's traditional owners the Quandamooka Yoolooburrabee Abori...

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Bellamy's shares soar as China gives new brand the tick of approval

Bellamy's shares soar as China gives new brand the tick of approval

Shares in milk-formula producer Bellamy's have spiked following the announcement that a new China-focused formula brand has been approved by Chinese regulator SAMR. The company is awaiting final certification of all changes from SAMR which it anticipates will be received shortly. Prior to producing, the parties may make further amendm...

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Australian domestic tourism continues to perform strong

Australian domestic tourism continues to perform strong

For nearly a decade now Australian domestic tourism has been a growing sector. Except for a little blip in 2009 Australians have been spending more and more every year on domestic travel and holidays. At the end of 2018 overnight spend from domestic tourists rose by 13 per cent to $72.7 billion. This is a growing sector showing no sig...

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One in three Aussies would trust a robot for financial advice

One in three Aussies would trust a robot for financial advice

With financial advice professionals licking their wounds following the Banking Royal Commission, it appears that now is the perfect time for a robot uprising. That is if you look to recent research which shows that 30 per cent of Australians would trust a robot to offer them financial advice. According to think tank Thinque this stati...

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"Take no action", Automotive Holdings urges shareholders after AP Eagers bid

"Take no action", Automotive Holdings urges shareholders after AP Eagers bid

A merger proposal involving two of Australia's leading car dealerships is revving up as boards seek to steer shareholders in opposing directions. Earlier this month AP Eagers (ASX: APE) made a scrip-for-scrip takeover bid for Automotive Holdings Group (ASX: AHG) which valued the smaller company at $635 million, but hype around the pro...

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Female board appointments stall for ASX 200 companies

Female board appointments stall for ASX 200 companies

The Australian Institute of Company Directors (AICD) has called the failure to reach an equality target "disappointing" with fewer than expected females appointed to ASX 200 boards in 2019. AICD today released the latest gender diversity statistics of Australia's ASX 200 companies, and progress appears to have stalled. F...

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Sales slide for Australia's largest listed cannabis company

Sales slide for Australia's largest listed cannabis company

Australian industrial hemp and medicinal cannabis company Elixinol (ASX: EXL) saw its revenue fall by 31 per cent quarter-on-quarter in the first three months of 2019, but the group has bounced back in April with a major US retail order. As the country's largest listed cannabis outfit with a market capitalisation of $639 million, Elix...

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Gilbert + Tobin optimistic following bumper year for mergers and acquisitions

Gilbert + Tobin optimistic following bumper year for mergers and acquisitions

Gilbert + Tobin are certainly no strangers to some of the largest Australian mergers and acquisitions (M&A). Most recently the company advised on the acquisition of business software company MYOB by KKR for $2 billion. So, when the firm says that the future is looking bright for M&A that's a fairly strong indication that t...

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Creso Pharma gets green light for medicinal cannabis in Brazil

Creso Pharma gets green light for medicinal cannabis in Brazil

With production now underway at its state-of-the-art Canadian cannabis facility,  Creso Pharma (ASX: CPH) has gained access to one of the world's largest economies. Last week Creso announced it had received approval to import its first medicinal cannabis product into Brazil, a market with around 209 million people where...

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Provenir's mobile abattoir set to revolutionise ag-tech and animal welfare

Provenir's mobile abattoir set to revolutionise ag-tech and animal welfare

To change an industry as rooted in its ways as the animal agriculture industry is going to take something seriously disruptive. One such emerging disruptor in the animal agriculture world Provenir is seeking to change the way farms and abattoirs operate as we know them. Co-founded by CEO Chris Balazs (pictured right), Provenir is a ga...

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NAB takes $525M hit as it repays short-changed customers

NAB takes $525M hit as it repays short-changed customers

National Australia Bank (ASX: NAB) has copped a $525 million cost to repay aggrieved customers in the wake of the banking Royal Commission. This $525 million after tax ($749 million before tax) bill accounts for increased provisions for NAB's customer-related remediation program and is expected to cut its 1H19 cash earnings by a whopp...

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KKR takeover of MYOB greenlit by shareholders

KKR takeover of MYOB greenlit by shareholders

Shareholders have approved the takeover of business software company MYOB (ASX: MYO), giving Kohlberg Kravis Roberts & Co (KKR) the green light. The takeover was on shaky ground for the last month as major shareholder Manikay Partners attempted to buy up enough shares to block the vote. The vote was passed by 73.89 per cent of sha...

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MGC Pharma secures Chinese distribution agreement for CBD based products

MGC Pharma secures Chinese distribution agreement for CBD based products

Chinese demand for Australian products like skincare, vitamins, and produce is no secret but it seems that Australian cannabis manufacturers are now looking to the Asian giant for distribution. MGC Pharma has signed a distribution agreement with Chinese e-commerce import platform YuShop Global to sell the company's CBD and hemp-enhanc...

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Smiles Inclusive takes founder Mike Timoney to court

Smiles Inclusive takes founder Mike Timoney to court

Divided dental company Smiles Inclusive (ASX: SIL) has commenced legal proceedings against beleaguered founder Mike Timoney (pictured) alleging serious misconduct and breaches of the law. The action follows the substantial completion of an interim investigation into the conduct of the ousted former CEO who remains on the board along with ...

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Booktopia falls well short of $10M crowdfund target

Booktopia falls well short of $10M crowdfund target

What was heralded as Australia's largest-ever equity crowdfunded capital raise through Equitise is a long way from achieving its targets with just 60 days to go before the offer expires. In November, the country's leading online bookseller Booktopia announced it was offering 8.1 per cent of the business to investors with plan...

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Dulux board agrees to $4.2 billion takeover by Nippon

Dulux board agrees to $4.2 billion takeover by Nippon

Japan's Nippon Paint has made a $4.2 billion offer to acquire DuluxGroup (ASX: DLX) and the Aussie paint empire has given its unanimous thumbs up, urging shareholders to accept the deal. Nippon has offered to buy the company for a 100 per cent cash consideration of $9.80 per share which represents a substantial 27.8 per cent premium t...

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Longtable completes the acquisition of Maggie Beer Products

Longtable completes the acquisition of Maggie Beer Products

The acquisition of Maggie Beer's eponymous line of gourmet foods has been completed by listed food company Longtable (ASX: LON). Longtable now owns 100 per cent of Maggie Beer Products after purchasing the remaining 52 per cent not already owned for $10 million. In order to acquire the remaining 52 per cent of Maggie Beer Products...

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ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

Bupa has come under fire from the Australian Competition and Consumer Commission (ACCC) for allegedly charging elderly residents thousands of dollars for services they never provided. The ACCC says Bupa Aged Care Australia made false or misleading representations to its aged care residents in 21 homes about services it did not provide or ...

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Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

The rising number of Australians concerned with what they consume is causing chocolatiers to change their product offerings around Easter according to a report by IBISWorld. Whilst the anticipated Easter chocolate spend in Australia will continue to grow this year chocolatiers are being pushed to produce more premium and healthier Easter ...

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Citi to refund $3M over complex investment losses

Citi to refund $3M over complex investment losses

One of the world's largest banks will refund more than $3 million to Australian customers over losses from complicated fixed coupon structured products, following an investigation from the country's financial watchdog. The Australian Securities and Investments Commission (ASIC) put Citigroup under the microscope to examine ho...

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