Massive first strike on CEO pay at NAB

Massive first strike on CEO pay at NAB

"We tried, but we got it wrong. We are listening to you. We will try again," says National Australia Bank (ASX: NAB) chairman Ken Henry. NAB shareholders have issued a strong sign of disapproval to the board with 80 per cent voting against a proposed remuneration report that included significant concessions for CEO Andrew Thorbu...

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EML taps into Millennial fin-techs with new payment programs

EML taps into Millennial fin-techs with new payment programs

Hot off the heels of a tie-up with Apple Pay, EML Payments (ASX: EML) aims to be ahead of the curve after securing new payments programs with four Australian fin-tech groups that bank on rising behavioural trends amongst Millennials and Generation Z. EML Payments CEO Tom Cregan (pictured) says his company's product innovation, process...

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Carsales takes $48m hit from lending changes

Carsales takes $48m hit from lending changes

Tightened credit conditions and a ban on flex commissions have taken a Carsales.com (ASX: CAR) subsidiary down a gear with a non-cash impairment charge of $48 million. The digital automotive classifieds company holds a 50.1 per cent stake in Stratton Finance Group Cash Generating Unit (GCU), whose car financing operations h...

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Charter Hall to buy Campbellfield Plaza for $74m

Charter Hall to buy Campbellfield Plaza for $74m

A Sydney-based real estate investment trust (REIT) is using the proceeds from two recent regional property sales to buy a strategic shopping centre in Melbourne's north. Charter Hall Retail REIT (ASX: CQR) has executed an unconditional contract to buy Campbellfield Plaza in northern Melbourne for $74 million, with the transaction expe...

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ACCC takes Jetstar to court for misleading refund claims

ACCC takes Jetstar to court for misleading refund claims

Australia's consumer rights watchdog has called out budget airline Jetstar for claiming certain guarantees under Australian Consumer Law (ACL) did not apply to its flight services and that some fares were non-refundable. The Australian Competition and Consumer Commission (ACCC) has instituted proceedings against Jetstar for makin...

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ASIC challenges AMP and Clayton Utz over failure to produce documents

ASIC challenges AMP and Clayton Utz over failure to produce documents

As part of its investigation into AMP for charging 'fees for no service' (FFNS), the Australian Securities and Investments Commission (ASIC) has called on the financial services firm and Clayton Utz to provide certain documents it claims have been withheld. ASIC has applied to the Federal Court of Australia for an order that ...

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Creso Pharma to expand cannabis-based animal health range in Europe, Latam

Creso Pharma to expand cannabis-based animal health range in Europe, Latam

A partnership with one of the world's leading veterinary pharmaceutical companies is reaping rewards for Australian-Swiss cannabis outfit Creso Pharma (ASX: CPH), with the first major commercialisation of its animal health range now underway. Creso's hemp oil-based anibidiol feed for pets had a slow entry to the European market th...

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Domain to consolidate digital listings power with CommercialView acquisition

Domain to consolidate digital listings power with CommercialView acquisition

Now under the majority ownership of Nine Entertainment (ASX: NEC), property listings giant Domain Group (ASX: DHG) is set to take on more online territory with the purchase of CommercialView. The deal could be valued anywhere between $4.2 million and $17.2 million depending on various targets, and would give Domain access to a platform su...

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API offers $727 million for rival Sigma Healthcare

API offers $727 million for rival Sigma Healthcare

Australian Pharmaceutical Industries (ASX: API) has offered its rival Sigma Healthcare (ASX: SIG) $727 million to buy the entire business. API is hoping to consolidate its position in the face of increased regulatory processes and a more competitive market. The $727 million takeover represents a premium of 69.4 per cent ot Sigma's...

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Tomas Steenackers crowned Australian Young Entrepreneur of the Year 2018

Tomas Steenackers crowned Australian Young Entrepreneur of the Year 2018

The nation's leading young businesspeople gathered on the Gold Coast for a night of revelry and recognition yesterday, after Business News Australia scoured the country to select candidates for the coveted Australian Young Entrepreneur Awards 2018.  Not only have these entrepreneurs found success, but they are exploring and ...

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Have franchisors killed franchising?

Have franchisors killed franchising?

Unethical franchisors have led the franchising industry to the point it may no longer be a viable business model. The newly formed Australian Association of Franchisees (AAF), are calling for this conduct to stop and for new legal foundations to underpin the industry for the sake of the ethical franchisors and all franchisees. The Parliam...

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ACCC puts TPG-Vodafone merger in doubt

ACCC puts TPG-Vodafone merger in doubt

The competition regulator says the merger would take away TPG Telecom's (ASX:TPG) incentive for aggressive pricing strategies to offer cheap mobile plans and large data allowances. A merger to form a $15 billion telecommunications powerhouse between TPG Telecom and Vodafone Hutchison Australia has been called into question by the Aust...

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Smart vape breakthrough for cannabis tech LifeSpot Health

Smart vape breakthrough for cannabis tech LifeSpot Health

LifeSpot Health (ASX: LSH) has started distribution negotiations with "key players in recreational cannabis" following production of its first medical cannabis smart vaporiser. At the time of writing shares in the Melbourne-based company were up 13 per cent, with the group highlighting significant growth in the booming cannabis ...

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Australian Young Entrepreneur Awards 2018 to acclaim the risk-takers and game-changers

Australian Young Entrepreneur Awards 2018 to acclaim the risk-takers and game-changers

Not content to rest on their laurels as the world changes around them, entrepreneurs are a forward-thinking breed for whom determination is de rigueur and risk is a reality.  As the culmination of a decade hosting Young Entrepreneur Awards and following the journeys of its participants through reportage, Business News Australia will ...

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Former Leighton CFO found guilty of cooking the books

Former Leighton CFO found guilty of cooking the books

Former Leighton Holdings (LHL) chief financial officer and director Peter Alan Gregg has been found guilty of criminal charges brought by the Australian Securities and Investments Commission (ASIC).  After a five-week trial in the District Court of New South Wales, a jury found Gregg (of Pyrmont, NSW) had engaged ...

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P2P Transport's latest acquisition secures its leading taxi advertising position

P2P Transport's latest acquisition secures its leading taxi advertising position

Taxi and ride-share vehicle management business P2P Transport (ASX: P2P) has completed its latest acquisition, establishing the company as Australia's largest taxi advertising network. The company has acquired Nonstop Media, a national provider of "static backs" which are attached to the read of taxis and act as a platform f...

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SumoSalad back in the ring with plans for THR1VE merger

SumoSalad back in the ring with plans for THR1VE merger

Within months of struggling through the toils of voluntary administration, food chain SumoSalad looks set to merge with another company that has fallen on hard times. Led by co-founder Luke Baylis as its company director, SumoSalad has signed a heads of agreement to explore the creation of a leading "house of wellness brands&quo...

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ACCC preliminary report slams unfettered dominance of Facebook and Google

ACCC preliminary report slams unfettered dominance of Facebook and Google

The Australian Competition and Consumer Commission (ACCC) has today released its most scathing assessment of how American tech giants are impacting the Australian market, particularly the news and advertising sectors. The regulator released a preliminary report containing 11 preliminary recommendations and eight areas for further analysis...

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IOOF leaders step down over APRA row

IOOF leaders step down over APRA row

The managing director and chairman of IOOF Holdings (ASX: IFL) have stepped down from their roles to fight legal action brought by the Australian Prudential Regulation Authority (APRA), in what the finance services provider has described as an "appropriate" step in the interests of governance. APRA announced on Friday that ...

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IOOF shares in freefall as APRA looks to ban five senior executives

IOOF shares in freefall as APRA looks to ban five senior executives

The prudential regulator has begun legal action to disqualify five senior IOOF employees from running a superannuation fund for failing to act in their members' interest, as ANZ flagged it would now reconsider its sale of its OnePath Pensions business to the wealth manager. APRA on Friday also revealed it was seeking to impose additio...

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Former Murray Goulburn MD hit with $200k fine

Former Murray Goulburn MD hit with $200k fine

A former Murray Goulburn executive has been fined $200,000 over his involvement in the dairy group's false or misleading claims about the fixed pricing system used to forecast expected farmer payments in 2015-16.  The Federal Court approved a settlement between Murray Goulburn and the Australian Competition and Consumer...

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How TJ Swim found success by becoming an essential social media brand

How TJ Swim found success by becoming an essential social media brand

There's certainly no shortage of fresh-faced brands on Instagram. Scrolling through the website, it becomes quickly apparent that the social media platform has birthed a whole new world of e-commerce. In many ways, it's far more important in 2018 to have a beautiful Instagram page than it is to have a shopfront at the local We...

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Zelda reaches cannabis spray deal with SUDA

Zelda reaches cannabis spray deal with SUDA

Perth-based Zelda Therapeutics (ASX: ZLD) is set to develop oral spray formulations for its cannabis medicines thanks to a deal reached with SUDA Pharmaceuticals Ltd (ASX: SUD). SUDA will apply its proprietary OroMist oromucosal spray tech for Zelda's pharmaceutical-grade formulations under a 12-month plan, as part of t...

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Fastbrick Robotics launches new service, discontinues Caterpillar MoU

Fastbrick Robotics launches new service, discontinues Caterpillar MoU

The launch of a new 'Wall as a Service' offering and plans to build at least 10 houses outdoors in 2019 were not enough to outweigh the market's negative reaction to Fastbrick Robotics (ASX: FBR) ending a Memorandum of Understanding (MoU) with major US machinery company Caterpillar (NYSE: CAT).  In an announcement yesterd...

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Forget the sofa: Find comfort with online counselling

Forget the sofa: Find comfort with online counselling

Seeing a mental health professional can be a daunting experience. Never mind the sterile waiting rooms, the unfamiliar office, and the anxiety of having to ask for time off work sometimes the hardest part is finding a car park! With broadband speeds faster than ever, and with telehealth well and truly entering its prime, it might be t...

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ACCC takes on TPG for retaining millions from allegedly misleading conduct

ACCC takes on TPG for retaining millions from allegedly misleading conduct

The Australian Competition and Consumer Commission (ACCC) is hoping to secure compensation for TPG customers after the telco allegedly misled consumers about a "prepayment" fee. The ACCC alleges that TPG misled customers about a $20 "prepayment" made by consumers and that the telco included unfair prepayment contract t...

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Exclusive cannabis deal makes its mark on Impression Healthcare

Exclusive cannabis deal makes its mark on Impression Healthcare

Impression Healthcare (ASX: IHL) might be known for its work in dental impressions, but the Melbourne-based group has ambitions to become a serious medicinal cannabis player too. Following its collaboration agreement with US cannabis pharmaceutical company AXIM Biotechnologies announced in late September, the company has now secured an im...

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The Reject Shop rejects opportunistic Allensford offer

The Reject Shop rejects opportunistic Allensford offer

Following a late October share price dive The Reject Shop (ASX: TRS) has been trying to rebuild its retail business another victim of the dismal Australian retail sector. In late November, a newly incorporated company called Allensford (wholly owned by Kin Group), lobbed an "opportunistic" offer to The Reject Shop's sharehol...

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GrainCorp receives $2.4b takeover offer

GrainCorp receives $2.4b takeover offer

One of the country's largest agribusinesses GrainCorp (ASX: GNC) has been valued at a 42 per cent premium thanks to a takeover bid from Long-Term Asset Partners (LTAP), which is offering $10.42 per share. The non-binding, indicative proposal from the Australian outfit values Sydney-based GrainCorp at $2.4 billion, and at the time...

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Godfreys co-founder John Johnston passes away at 100

Godfreys co-founder John Johnston passes away at 100

John Johnston was described as a "driving force" behind the company's growth to become a national retail chain.  The centenarian owner of vacuum cleaner retailer Godfreys passed away last week, around five months after he and his family took back ownership of the group he co-founded almost eight decades ago. Godfrey...

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