As the web turns 30 its creator warns of a bleak future

As the web turns 30 its creator warns of a bleak future

The World Wide Web is now 30 years old! In such a short period of time the invention of the Internet has changed our lives forever. But the creator of the web says not all changes have been for the good of humanity. In a public letter Sir Tim Berners-Lee, the inventor of the web and the founder of the World Wide Web Foundation, reflects o...

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Retail Food Group "damaged the reputation of franchising" slams parliamentary report

Retail Food Group "damaged the reputation of franchising" slams parliamentary report

The parent company behind Brumby's, Donut King, and Michel's Patisserie has been slammed by a parliamentary inquiry into Australian franchisors. The committee devoted a chapter in their Fairness in Franchising report released today to Retail Food Group (ASX:RFG) as an example of a franchisor who is taking advantage of an insuffici...

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Kogan takes on Amazon with new marketplace

Kogan takes on Amazon with new marketplace

Kogan.com's (ASX: KGN) latest play looks quite familiar. Dubbed 'Kogan Marketplace' the new online shop launches today with more than 100,000 products from external retailers. The model seems pretty similar to the way Amazon operates, allowing businesses to use the marketplace and e-tail infrastructure to sell their own pr...

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Kathmandu hit by hackers

Kathmandu hit by hackers

The personal information and payment details of Kathmandu Holdings' (ASX, NZX: KMD) online customers may be at risk after the outdoors and adventure retailer today revealed a security breach of its website platform. The company recently became aware an unidentified third party had gained unauthorised access to the website some ti...

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Investment firm launches $20 million takeover bid for Yowie

Investment firm launches $20 million takeover bid for Yowie

Yowie (ASX: YOW) might be completely gobbled up by Australian investment firm Keybridge Capital (ASXL KBC) for a cool $20 million. The underperforming confectioner is facing the takeover by Keybridge following a disappointing first half during which the company recorded a loss of $871,000. Keybridge looks to be taking advantage of thi...

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Sigma Healthcare rejects API takeover proposal

Sigma Healthcare rejects API takeover proposal

The parent company of some of Australia's leading pharmacies, Sigma Healthcare (ASX: SIG), has rejected a takeover proposal from Australian Pharmaceuticals Industries (ASX: API). In December 2018 API offered $727 million to buy the entirety of Sigma Healthcare. Sigma is the parent of leading Australian pharmacies Amcal, Chemist King, ...

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Oliver's Real Food shares surge on founder's return

Oliver's Real Food shares surge on founder's return

A healthy fast food chain with bloated overheads is about to rein in costs through an executive overhaul that has already led to a doubling of its share price since the announcement was made on Monday morning. That company is Oliver's Real Food (ASX: OLI), an enterprise headquartered on the Central Coast of New South Wales that listed...

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Retail Food Group denies administration rumours

Retail Food Group denies administration rumours

Embattled franchisor Retail Food Group (ASX: RFG) has denied reports in the Courier Mail citing "word on the street" speculation that administrators could be called in as soon as next week. The operator of food brands including Brumby's, Donut King, Michel's Patisserie and Gloria Jeans reported a loss of $111 million for...

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Zelda strikes up partnership to break into US medicinal cannabis market

Zelda strikes up partnership to break into US medicinal cannabis market

Zelda Therapeutics (ASX: ZLD) has entered into a partnership that could see it grab a serious slice of the US medicinal cannabis market. Zelda and Ilera Healthcare will explore a range of commercialisation opportunities to tap into the lucrative US medicinal cannabis market. Though not legal or decriminalised federally, the United Sta...

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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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