Vinnies North Queensland Flood Appeal

Vinnies North Queensland Flood Appeal

St Vincent de Paul Society Queensland (Vinnies) has launched the Vinnies North Queensland Flood Appeal to help victims of the devastating disaster affecting North Queensland. 

With thousands of Queenslanders impacted by flood waters, landslides and monsoonal rain, Vinnies state president Dennis Innes has declared a public disaster a...

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Blue Sky in the red in H1

Blue Sky in the red in H1

Restructuring costs, valuation cuts and reimbursements have taken their toll on Blue Sky Alternative Investments' (ASX: BLA) bottom line, with the embattled fund manager anticipating a loss of between $28-32 million for the first half of FY18. And if it weren't for a $50 million convertible note facility from its saviour part...

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JB Hi-Fi notches record earnings in H1

JB Hi-Fi notches record earnings in H1

Electronics retailer JB Hi-Fi (ASX: JBH) continued to roll out new stores in the first half of FY19 while profit rose 5.5 per cent to reach $160.1 million. The result aligns with forecasts from the Australian Retailers Association (ARA) and Roy Morgan that Christmas sales would be "bountiful" for stores specialising in electroni...

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Hadrian X robot builds its first outdoor building

Hadrian X robot builds its first outdoor building

Fastbrick Robotics (ASX: FBR) have completed their first ever outdoor build with their Hadrian X robot. Shares in Fastbrick soared in November 2018 when the company announced that their robot built a home structure in less than three days autonomously. But the real test was whether the robot could do it in the elements outside of a wa...

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Volt Bank charges up digital deal with Spitfire

Volt Bank charges up digital deal with Spitfire

Within weeks of receiving a major investment from Collection House (ASX: CLH), Australia's newest bank has linked up with Sydney-based Spitfire Corporation to give customers a digital platform for wealth management. Volt Bank, Australia's first new startup to receive a retail bank licence since 1981, will harness Spitfire's te...

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Australian Ag Co expects "extreme losses" from unprecedented floods

Australian Ag Co expects "extreme losses" from unprecedented floods

Shares in beef producer Australian Agricultural Company (ASX: AAC) are trading at their lowest levels since 2003 after the group released a statement about flood impacts in Queensland. The board today confirmed severe flooding throughout northwestern Queensland had severely impacted four of its 21 properties. "Of AACo's ...

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Althea hopes to be one of the first to supply the UK with medicinal cannabis

Althea hopes to be one of the first to supply the UK with medicinal cannabis

In late September last year, Althea (ASX: AGH) burst onto the ASX with a heavily subscribed IPO of $19.65 million. The Melbourne-based medicinal cannabis company joined a suite of Australian companies vying for a slice of the fast-moving and ever-growing medicinal cannabis market. Though the biggest sector right now is a close call be...

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Coles offloads three regional stores for $45 million

Coles offloads three regional stores for $45 million

International investors have their eyes on regional Western Australian commercial properties according to the results of a sales spree. CBRE, who managed the expressions of interest campaign for three regional properties, says international and Australian investors are keen to grab a slice of WA. The three regional properties, with Co...

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Greencross taken over by US private equity giant TPG

Greencross taken over by US private equity giant TPG

Greencross (ASX: GXL) shareholders have voted overwhelmingly to accept a full takeover by private investment firm TPG as the veterinary care company faces an increasingly tough competitive environment. A shareholder vote was held on Wednesday and, ahead of that, it was reported that 98.81 percent of proxy shareholders voted in favour of a...

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Virgin Australia names Paul Scurrah as John Borghetti's successor

Virgin Australia names Paul Scurrah as John Borghetti's successor

The replacement for long-time Virgin Australia CEO and MD John Borghetti has been found to lead Australia's second largest carrier. Paul Scurrah will replace John Borghetti who announced his intention to step down in June 2018 after a decade of working for the airline. Borghetti joined the airline in 2010, when it was called Virgi...

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Dexus reports a productive half year but profit slips

Dexus reports a productive half year but profit slips

Real estate management group Dexus (ASX: DXS) has seen its profit slip by 27.2 per cent despite its "productive" half year. During the first half of FY19 Dexus' NPAT was down 27.2 per cent to $726.4 million because of net revaluation gains of investment properties being lower than those recognised in the previous correspondi...

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Home-building robot company enters deal with Brickworks

Home-building robot company enters deal with Brickworks

The company known for building a home structure with a robot has today reached a breakthrough agreement with a subsidiary of Brickworks (ASX: BKW), with expectations for a pilot program to kick off in Western Australia. Within months of its partnership with Caterpillar (NYSE: CAT) falling through, Perth-based Fastbrick Robotics (ASX: FBR)...

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Shopping centres lift SCA Property income

Shopping centres lift SCA Property income

Commercial landlord Shopping Centres Australasia Property Group ('SCA', ASX: SCP) has notched a 17.5 per cent year-on-year rise in funds from operations (FFO) in the first half, while like-for-like sales performance remained steady. Statutory net profit after tax (NPAT) was down 43.5 per cent at $39.9 million, but this was mainly ...

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NAB leaders respond to Royal Commission's fierce criticism

NAB leaders respond to Royal Commission's fierce criticism

"We are the only bank to publicly release our assessment, which clearly outlines 26 areas where we are focusing on to be a better bank," says NAB chair Ken Henry. National Australia Bank (ASX: NAB) shares are up this morning despite a stinging evaluation of its executives in yesterday's final report of the Royal Commission, ...

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Napoleon Perdis closes half its stores

Napoleon Perdis closes half its stores

The voluntary administrators who have taken over beauty retailer Napoleon Perdis have noted positive impacts from the early stages of restructuring, as the iconic brand 'right-sizes' its store profile and presence Australia-wide. However, despite the relative success of a weekend sales campaign that "delivered very strong res...

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ASIC orders CBA financial planning arm to cease charging fees

ASIC orders CBA financial planning arm to cease charging fees

A declaration over fees for no service (FFNS) conduct from Commonwealth Financial Planning Limited (CFPL) has been deemed insufficient by Australia's corporate watchdog, leading to fresh restrictions on the financial advice arm of the country's largest bank. As a result CFPL must stop charging ongoing service fees from i...

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Six questions our banks need to answer to regain trust

Six questions our banks need to answer to regain trust

After today's Banking Royal Commission's final report it may seem as if it is impossible for banks to regain trust. But it is possible, as I know from working with prominent British and European banks after the global financial crisis, taking part in policy meetings at the UK parliament about how to restore trust, and researching ...

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Qantas' acquisition of Alliance Airlines up in the air

Qantas' acquisition of Alliance Airlines up in the air

Qantas (ASX: QAN) has announced that it has purchased a 19.9 per cent stake in regional charter flight operator Alliance Airlines (ASX: AQZ), but the deal could still be undone. Shares in Alliance have soared on the back of Qantas' transaction, with shares up 12.61 per cent to $2.59 per share before noon AEDT. However, the investm...

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Healthscope signs $4.5 billion takeover deal

Healthscope signs $4.5 billion takeover deal

Healthscope (ASX: HSO) and Canadian investment firm Brookfield have come to an agreement on the takeover of the Australian hospital operator to the tune of $4.5 billion. The deal between the two comes amid claims from rival bidders that they could trump Brookfield's offer. The agreement will see Brookfield pay $2.50 per share (a p...

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Ansell slips on US glove maker for $96.2 million

Ansell slips on US glove maker for $96.2 million

Following the sale of its condom business in 2017 Ansell (ASX: ANN) has been focusing on its protective gear unit as its priority. Continuing this trend, the Australian company has acquired a US protective glove manufacturer Ringers Gloves for US$70 million ($96.2 million). Ringers Gloves has a history of manufacturing gloves to oil &...

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Cosmetics empire Napoleon goes into administration

Cosmetics empire Napoleon goes into administration

After the downfalls of Roger David and Ed Harry in recent months, another Australian icon is on the chopping block with cosmetics retailer Napoleon Perdis now in voluntary administration. The directors of Napoleon Perdis Group today appointed Simon Cathro, Chris Cook, and Ivan Glavas of Worrells Solvency Accountants as voluntary admi...

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Optus unveils 5G plan to challenge NBN

Optus unveils 5G plan to challenge NBN

While the ban on Huawei was enough to drive away TPG from setting up its new network, Optus remains undeterred and has today released its plans to roll out a "game changing" home broadband service. The company has signalled the "first wave" of the project with 1,200 5G sites planned by March 2020. In partnership wi...

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Back-to-back sell-offs for more RCR Tomlinson businesses

Back-to-back sell-offs for more RCR Tomlinson businesses

Just one day after beleaguered engineering firm RCR Tomlinson (ASX: RCR) sold off its laser cutting business, the now company now under administration has made two more sales. NRW Holdings (ASX: NWH) has acquired RCR's mining and heat treatment businesses for $10 million. The two entities form part of the original RCR Tomlinson bu...

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Equinox Property Group adds to growing tourism portfolio

Equinox Property Group adds to growing tourism portfolio

Sydney-based Equinox Property Group has scooped up two Victorian tourist parks worth nearly $6 million in total, adding to its growing portfolio. Benalla Tourist Park and Healesville Lifestyle Village were purchased off-market and are the latest additions to Equinox's portfolio of Victorian mixed-use tourism and land lease villages. ...

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Melbourne gym and office-retail spaces sold for $9.2M

Melbourne gym and office-retail spaces sold for $9.2M

Real estate agent CBRE has negotiated two major property sales for a total of $9.15 million in Melbourne's CBD and Docklands. A ground floor gym in the Melbourne CBD was sold for $5.05 million, representing a $1 million premium on its reserve price after a competitive auction between six bidders. The 369sqm investment at Shop 1, 1...

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Esports Mogul speeds ahead to 1 million registered users

Esports Mogul speeds ahead to 1 million registered users

Listed esports company Esports Mogul (ASX: ESH) has quickly reached a new milestone of one million registered users on its platform. These figures were mostly achieved in just the last six weeks during which the company added approximately 620,000 new registered users an increase of 163 per cent since December. The company says the in...

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Perth firm snaps up struggling RCR's laser cutting business

Perth firm snaps up struggling RCR's laser cutting business

Within weeks of offloading RCR Energy Service, administrators McGrathNicol have announced the sale of laser cutting business RCR Laser to Perth-based Unique Metal Works. McGrathNicol was appointed to oversee the sale and restructuring of RCR Tomlinson's (ASX: RCR) assets in November, after operational issues at its solar farms led to ...

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Female board representation hits an all-time high

Female board representation hits an all-time high

Gender diversity on ASX 200 boards has hit an all-time high at the end of 2018, with nearly 30 per cent of board positions filled by women. This is a huge milestone for Australian companies who have hit this target without any regulatory intervention or quotas. The Australian Institute of Company Directors (AICD) says the 29.7 per cen...

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Melbourne Queen St property sold for $7.25M

Melbourne Queen St property sold for $7.25M

The ground floor and mezzanine of Melbourne's 131 Queen Street, made famous in 1976 as the scene of the 'Great Bookie Robbery', has been sold to a local investor for $7.25 million. According to CBRE, the property proved an historic point of interest for a wide range of buyers, with three investors and four owner-occupiers...

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AMP profit slashed 96 per cent

AMP profit slashed 96 per cent

Things continue to get worse for AMP (ASX: AMP) in the ongoing wake of the banking royal commission. The company has announced that its full year profit will fall by 96 per cent after confirming it will set aside another $200 million to cover the cost of customer remediation issues arising from the royal commission. The financial mana...

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