Moody's forecasts "modest" earnings growth in 2019

Moody's forecasts "modest" earnings growth in 2019

Ratings agency Moody's sees good opportunities for exporters and resources companies this year from a weaker Australian dollar, along with "modest earnings growth" for corporates and a low appetite for increased debt. Moody's Investors Service forecasts the earnings growth will be supported by GDP growth of around 2...

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Coles starts trading on the ASX

Coles starts trading on the ASX

After an 11-year absence due to its incorporation with Wesfarmers (ASX: WES), one of country's leading supermarkets is back on the Australian Stock Exchange. Shares in Coles Group (ASX: COL) started trading today following a decision from the Supreme Court of Western Australia on Monday to approve a Wesfarmers shareholder vote in...

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Harold Mitchell resigns on ASIC's Tennis Australia probe

Harold Mitchell resigns on ASIC's Tennis Australia probe

The chairman of Free TV Australia Harold Mitchell has been "forced" to resign following allegations made by the Australian Securities and Investment Commission (ASIC) about his involvement with Tennis Australia. Mitchell revealed news of the acrimonious departure in a brief statement. "It is with regret that I have been...

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Our 'failures' hindered police enforcement of major crime, CBA boss admits

Our 'failures' hindered police enforcement of major crime, CBA boss admits

Police and law enforcement authorities were unable to disrupt money laundering by drug and firearm syndicates because of Commonwealth Bank's "failures", according to CBA CEO Matt Comyn. At the banking royal commission on Tuesday, Comyn made the dramatic admission that the contraventions were extremely serious. CBA paid a...

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RCR Tomlinson faces class action over share plunge

RCR Tomlinson faces class action over share plunge

Engineering and infrastructure company RCR Tomlinson Limited (ASX: RCR) is facing a class action in the NSW Supreme Court from aggrieved shareholders after it suffered a massive share price plunge in August. Litigation firm Quinn Emanuel Urquhart & Sullivan filed the class action proceedings with financing from Burford Capital, a glob...

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Freelancer.com moves into freight business with acquisition

Freelancer.com moves into freight business with acquisition

Freelancing and crowdsourcing business Freelancer Limited (ASX: FLN) has moved into the freight and logistics market with the acquisition of Channel 40, an enterprise marketplace connecting freight owners with transport operators. With the acquisition, the company announced the launch of Freightlancer.com, a global marketplace for freight...

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No earnings guidance from Blue Sky with board change underway

No earnings guidance from Blue Sky with board change underway

The outgoing chairman of Blue Sky Alternative Investments (ASX: BLA) is confident restructuring efforts will help deliver returns, but unlike in previous years the company has not given any earnings guidance for FY2019 at today's annual general meeting (AGM). Chairman John Kain (pictured), who will be replaced by former Hastings Funds...

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Fairfax Media shareholders approve $4 billion merger with Nine

Fairfax Media shareholders approve $4 billion merger with Nine

Historic Australian media company Fairfax Media will be no more now that shareholders have approved a $4 billion "merger" with Nine Entertainment. The merger brings the total number of major media organisations in Australia down from five to four, and heralding in the era of mega-media conglomerates with a say in every medium. ...

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NAB boss takes big pay cut as bank admits to 'failing its customers'

NAB boss takes big pay cut as bank admits to 'failing its customers'


NAB (ASX: NAB) chief executive Andrew Thorburn has taken a $2 million pay cut as the bank admitted to "failures" in its treatment of customers which have "impacted NAB's reputation" which was revealed at the banking royal commission. Thorburn's remuneration was slashed by more than 30 percent from $6.5 milli...

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THC Global continue their expansion in Canada with new growing facility

THC Global continue their expansion in Canada with new growing facility

When recreational cannabis was legalised in mid-October this year in Canada certain Australian companies were masterfully poised to take full advantage of the booming market. THC Global (ASX: THC) saw this new trend a mile off and is one of the few Australian businesses really starting to dominate the fresh industry. Its domination of...

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Blackstone buys up industrial Sydney properties in Smeaton Grange

Blackstone buys up industrial Sydney properties in Smeaton Grange

One of the world's leading real estate investors has acquired four properties on the outskirts of Sydney for $50 million, representing one of just a few industrial transactions in the city's outer south west in recent months. Blackstone secured the properties spanning a total warehouse area of approximately 29,500sqm in an of...

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Brand affection not enough for Roger David: All stores to close within weeks

Brand affection not enough for Roger David: All stores to close within weeks

An Australian retail legacy is set to vanish from the business landscape as Roger David prepares to close its remaining 57 stores well before Christmas. The chain, which employs 300 people full-time as well as 200 casuals and part-time staff, was unable to entice buyers in a four-week process. Administrator Craig Shepard of KordaMenth...

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Deloitte: Online to be key retail "battlefield" this Christmas

Deloitte: Online to be key retail "battlefield" this Christmas

Australian retailers have a healthy dose of Christmas cheer as they hurtle towards the year's busiest trading period, with a Deloitte survey showing 80 per cent expect improved year-on-year sales. Confidence has been buoyed by strong product mixes, while investments in omni-channel business models have made traders bullish on online s...

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Government announces $2b injection for small business

Government announces $2b injection for small business

The Federal Government is offering a leg up to around three million small businesses in Australia through the creation of a $2 billion fund that will be channelled through loans to small banks and non-bank lenders. The Australian Business Securitisation Fund is expected to improve competition in the business loan market, where borrow...

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Blue Sky stands by Pinnacle deal after Wilson ups the ante

Blue Sky stands by Pinnacle deal after Wilson ups the ante

Wilson Asset Management (ASX: WAM) has raised the stakes in its bid to run Blue Sky Alternative Investments' (ASX: BLA) alternative access fund, but the embattled company has been unswayed. WAM has offered a fee-free period for BLA-managed assets as well as an expansion of the scope of its services to match those of Alterum, the name ...

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Amazon Australia launches local storefront for home-grown labels

Amazon Australia launches local storefront for home-grown labels

A year after touching down in Australia, Amazon has launched a new fashion shopfront packed with Aussie labels and designers. Called The Local Fashion Store, the curated selection of over 150 brands includes players like Local Supply, Lorna Jane, Review, Gazman, Rip Curl and Crumpler. Head of Amazon Fashion Australia Angela Langmann s...

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NEXTDC taps in to 9,000km cable thanks to Superloop deal

NEXTDC taps in to 9,000km cable thanks to Superloop deal

Data centre operator NEXTDC (ASX: NXT) is set to benefit from higher speeds thanks to a deal with Superloop (ASX: SLC) that will see it plug into consortium INDIGO's 9,000km international fibre cable project. Under the terms announced today, Superloop will provide NEXTDC's data centres in Perth (P1 and P2) and Sydne...

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RedBalloon gets a shot of Adrenaline

RedBalloon gets a shot of Adrenaline

The parent company of experience gift aggregator RedBalloon is taking a walk on the wild side through the acquisition of Adrenaline.com.au. Speaking to Business News Australia, RedBalloon founder and Shark Tank mentor Naomi Simson says the acquisition will allow the overarching Big Red Group to play in the big leagues by widening its offe...

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Bod teams up with Chemist Warehouse to distribute medicinal cannabis products

Bod teams up with Chemist Warehouse to distribute medicinal cannabis products

After securing its first prescription approval for MediCabilis in October, Bod (ASX: BDA) has announced a partnership with a leading pharmacy chain to distribute its hero product. Chemist Warehouse will manage the dispensing of Bod's medicinal cannabis products nationally, starting with its pharma grade CBD oil MediCabilis. The Ca...

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eCargo goes on an Australian shopping spree, to acquire a Metcash business and Jessica's Suitcase

eCargo goes on an Australian shopping spree, to acquire a Metcash business and Jessica's Suitcase

China-based eCommerce group eCargo (ASX: ECG) has announced a raft of acquisitions to further its reach in Australia. Of particular note is this morning's announcement from ECG that the company is set to acquire 85 per cent of Metcash's (ASX: MTS) China business. The acquisition will see ECG acquire 85 per cent of Metcash Expo...

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Corporate Travel Management strikes back

Corporate Travel Management strikes back

After 11 days under siege from a short selling attack, Corporate Travel Management ('CTM', ASX: CTD) is taking its defence up a notch with a review from Ernst & Young (EY) that "has not identified any issues or concerns" with its North American business and has sought to explain alleged discrepancies in cash flow an...

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ACCC will not oppose Nine-Fairfax merger

ACCC will not oppose Nine-Fairfax merger

Australia's competition watchdog has given its thumbs up to the proposed $4 billion merger of media giants Nine (ASX: NEC) and Farifax (ASX: FXJ/DHG), despite recognising the move would "likely reduce competition". The Australian Competition and Consumer Commission (ACCC) today announced it would not be opposing the merger af...

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How Servcorp is making it easier to be an entrepreneur

How Servcorp is making it easier to be an entrepreneur

Trying to build a respected business without a permanent office, or at least a base of operations, can make life difficult for even the savviest entrepreneur. While a good working space boosts productivity, team engagement and professionalism, it is a fine balancing act when you require flexibility to cater for rapid changes in a business...

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Solomon Lew sets his lawyers on Myer, demanding first quarter results

Solomon Lew sets his lawyers on Myer, demanding first quarter results

Clearly fed up with Myer's reluctance to play ball, Solomon Lew has called on his lawyers to demand some cooperation from the department store giant. This latest piece of wrath from Lew follows a letter released in late October where the Premier Investments chairman called on Myer to release its first quarter 2019 results. The con...

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VGI furthers short position in Corporate Travel over "serious additional concerns"

VGI furthers short position in Corporate Travel over "serious additional concerns"

Hedge fund VGI Partners has been emboldened by last week's 27 per cent fall in Corporate Travel Management ('CTM', ASX: CTD) shares and has increased its short position in the Brisbane company. The fund sent a 52-page to investors last night claiming the group tried to "tap-dance out of trouble" over allegations...

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Class action on the table after short seller report

Class action on the table after short seller report

Maurice Blackburn Lawyers is set to weigh in on VGI Partners' $55 million short on Brisbane-based travel company Corporate Travel Management ('CTM', ASX: CTD), with a class action potentially on the cards. But who the Melbourne-headquartered firm will be against is now the question. An investigation is currently underway i...

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Solomon Lew releases another scathing letter calling on Myer to release first quarter 2019 results

Solomon Lew releases another scathing letter calling on Myer to release first quarter 2019 results

On the 31st of October, it is customary to dress up in a spooky costume, cue a B-grade horror on Netflix, and donate lollies to roving groups of enthusiastic neighbourhood kids. Solomon Lew has taken Halloween quite literally this year, issuing another blistering letter aimed at Myer's chairman Garry Hounsell, that's sure to have ...

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Corporate Travel Management rejects 'misunderstood' short selling report from VGI Partners

Corporate Travel Management rejects 'misunderstood' short selling report from VGI Partners

"CTM has a clear strategy to establish a global footprint and generate scale, but is not intending to do this by building a costly and less productive small office 'bricks and mortar' empire," the group says.  Ahead of its AGM today Corporate Travel Management (CTM, ASX: CTD) has hit back at VGI Partners over its sh...

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Elixinol high on US sales

Elixinol high on US sales

A sustained push into the USA combined with the launch of a new range of hemp-based products saw rising cannabis company Elixinol (ASX: EXL) dominate in the third quarter of FY18. The company, whose financial year follows the calendar year, notched 159 per cent growth in revenue year-on-year for the period to hit $10.4 million. ...

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Centre of Christmas to become the social event of the season

Centre of Christmas to become the social event of the season

The end of the year is fast approaching and with it, corporate party season. Finding the time to plan an end of year celebration for your colleagues and clients can be an arduous problem, however thankfully the Gold Coast Convention and Exhibition Centre (GCCEC) has a unique solution. GCCEC's Centre of Christmas corporate function...

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