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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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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Bubs sales jump 499% in Q2 with higher margins

Bubs sales jump 499% in Q2 with higher margins

Infant formula and baby food company Bubs (ASX: BUB) has seen explosive growth in its sales to China and at home in the second quarter, with gross revenue up 499 per cent year-on-year at $12.1 million. This figure represents 35 per cent growth on the previous quarter for the company which focuses on goat's milk products, while for the...

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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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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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TPG cans mobile network over Huawei ban

TPG cans mobile network over Huawei ban

The federal government's decision to ban the use of Chinese telco Huawei in Australian 5G networks has led to TPG scrapping its plans for a new mobile network.  TPG, which had been designing and implementing its mobile network since April 2017, decided to cease the rollout of its infrastructure project today after investing signi...

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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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Startup investment landscape snapshot for 2019

Startup investment landscape snapshot for 2019

If you're still in the early stages of your startup or looking to finally launch your startup, 2019 might be the year to cast your net wider for investment capital to start or grow your company.  2018 was a big year for startups around the world. According to KPMG, over US$899 million was raised in Australia alone in 2018. At...

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Creso raises $3M to boost hemp and cannabis sales abroad

Creso raises $3M to boost hemp and cannabis sales abroad

Creso Pharma (ASX: CPH) is flying high on its international ambition, announcing today that it has raised $3 million to boost sales overseas. The Sydney-based medicinal cannabis and hemp producer has successfully raised the funds in a placement to institutional and sophisticated investors. The injection of capital will be used to acce...

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Coles to spend almost $1B on automated distribution centres

Coles to spend almost $1B on automated distribution centres

With an ongoing threat from Amazon and tightening margins caused by fierce competition, Australian retailers are harnessing every opportunity they can find to boost efficiency. For the recently demerged Coles Group (ASX: COL), this means cutting labour costs and improving its supply chain through investments in automated distribution. ...

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New home building in Australia facing "toughest year in almost a decade"

New home building in Australia facing "toughest year in almost a decade"

Master Builders Australia has forecast a challenging year ahead for the housing market as slowing mortgage credit and political uncertainty take their toll on activity. The group's chief economist Shane Garrett (pictured below) expects this to be the "toughest year in almost a decade" with declining house prices and fal...

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Slow Internet with the NBN? You might be eligible for a refund

Slow Internet with the NBN? You might be eligible for a refund

The ACCC is urging NBN customers with slow connection speeds to contact their provider as they may be eligible for a refund. Over the last 15 months Telstra, Optus, TPG, iiNet, Internode, Dodo, iPrimus and Commander have each admitted that they likely made false or misleading representations about the connection speeds NBN customers could...

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Collection House acquires $8.5M stake in Volt Bank

Collection House acquires $8.5M stake in Volt Bank

After revelations from the Royal Commission led to eroded trust in major banks, will customers warm to new entrants backed by regulations designed to promote competition? A pathway set up by regulators to incentivise new entrants in the banking sector is starting to gather momentum, with Volt Bank receiving an $8.5 million investment from...

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Huge Murray-Darling wetland saved by $55M sale to conservationists

Huge Murray-Darling wetland saved by $55M sale to conservationists

Almost the entirety of the Great Cumbung Swamp will be saved after The Nature Conservancy Australia ('TNC) purchased two major cattle stations for $55 million. In a joint venture with Tiverton Agriculture, TNC has purchased the Juanbung and Boyong cattle stations in western NSW, along with the properties' water rights. The $55...

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Mobile payments drive Chinese tourist spending in Australia

Mobile payments drive Chinese tourist spending in Australia

A new report from Nielsen and Alipay has found 68 per cent of Chinese tourists in Australia used mobile payments during their visits last year, with shopping, accomodation and dining as the leading purchases. This puts Australia ahead of the US and Canada which had a usage rate of 61 per cent, and Europe (France, UK, Italy, Germany) with ...

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The minds behind DriveMyCar launch Carly: like Netflix but for cars

The minds behind DriveMyCar launch Carly: like Netflix but for cars

Having already achieved success with DriveMyCar, a darling of the sharing economy, Collaborate (ASX: CL8) is looking to emulate the success of subscription services like Netflix with their new company called Carly. Carly is described as an alternative to buying or leasing a car, and instead has its users pay a monthly subscription fee to ...

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Tinybeans records first ever $1 million quarter

Tinybeans records first ever $1 million quarter

Private online social media platform for parents and families Tinybeans (ASX: TNY) has had a good run recently, reporting its first ever $1 million quarter. In total, Tinybeans secured $1,087,922 in revenue during Q2FY19, up 135 per cent from $463,586 in Q2FY18. Band partnerships and a boost in revenue were significant drivers for the...

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Sydney Airport reports another record year

Sydney Airport reports another record year

As the major gateway for most international tourists going into and out of Australia, Sydney Airport's traffic figures offer a unique insight into the country's tourists. This year, the Airport recorded yet another record year of people travelling through Mascot. 44.4 million passengers travelled through the airport's thre...

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Venture capital investment in Australia hits new highs in 2018

Venture capital investment in Australia hits new highs in 2018

While initial public offering (IPO) activity was low in 2018, the amount of venture capital (VC) invested in Australia surged upwards by 36 per cent last year to hit a record of US$899 million (A$1.25 billion). This is the conclusion of KPMG in its latest VC trends report Venture Pulse Q4 2018, which highlighted growth from US$659.9 milli...

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Office market vacancies to tighten in 2019

Office market vacancies to tighten in 2019

Colliers International expects vacancy rates to squeeze even lower in major office markets in the years ahead, driven by commercial tenants competing for limited space and a rise in demand for large or contiguous office space. Colliers' managing director for office leasing, Simon Hunt, says office vacancy forecasts for key market...

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Reject Shop results disprove "unfounded" Allensford claims, says chairman

Reject Shop results disprove "unfounded" Allensford claims, says chairman

The Reject Shop (ASX: TRS) chairman Bill Stevens claims results announced yesterday should put to bed speculation over poor sales performance from takeover bidder Allensford. Allensford, a subsidiary of Bennamon Pty Ltd which is owned by owned by Kin Group, made an offer for The Reject Shop in November claiming it could giv...

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Retail Food Group responds to $100M Crust Pizza sale speculation

Retail Food Group responds to $100M Crust Pizza sale speculation

Struggling franchisor Retail Food Group (ASX: RFG) has received some well-needed positive market sentiment this morning following speculation its business Crust Gourmet Pizzas is in line to be sold. At 11:30am AEDT shares in RFG were up 22 per cent at $0.36 after the Australian Financial Review (AFR) reported investor PAG Asia Capital was...

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