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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Slowing Kmart sales growth drags down Wesfarmers shares

Slowing Kmart sales growth drags down Wesfarmers shares

Performance over the Christmas period was always going to be under the microscope for retailer Kmart, but backwards movement in its like-for-like sales has dented confidence in parent company Wesfarmers (ASX: WES). In an announcement to the market today, Wesfarmers noted several causes behind the 0.6 per cent decline in Kmart sales for th...

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Black Friday buoys Australian retail but online continues to dominate

Black Friday buoys Australian retail but online continues to dominate

Australia's wholehearted embrace of the American Thanksgiving tradition Black Friday has paid off for our retailers, but it's online where shoppers continue to flock. The highly anticipated ABS data on retailing for November 2018 proved to be more positive than expected, with turnover up 0.4 per cent in November 2018. Pundits pred...

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Costa Group slammed by dip in tomato, berry and avocado sales

Costa Group slammed by dip in tomato, berry and avocado sales

Costa Group's latest trading update might have ushered in the end of an era for smashed avo lovers, and its shareholders are not particularly ripe. The grower, packer and marketer of Australian fruit and veg announced on Thursday that sales in tomatoes, berries and avacados dipped during December 2018. As a result, the company saw...

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Noni B results lifted by new brands and Christmas trading

Noni B results lifted by new brands and Christmas trading

Women's fashion retailer Noni B Limited (ASX: NBL) has remained on-trend in the first half of FY19, posting a 140 per cent surge in sales driven by its acquisition of Specialty Fashion Group in July. The newly incorporated brands include Millers, Katies, Rivers, Crossroads and Autograph. According to the company, the integration o...

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"Very early entry" with AR takes Domino's into uncharted food retail territory

"Very early entry" with AR takes Domino's into uncharted food retail territory

With $1.6 billion in online sales worldwide representing almost two-thirds of its business, Domino's Pizza Enterprises (ASX: DMP) is upping the ante to make sure it stays at the vanguard of digital tech development.  The company is now around two months in since the launch of an augmented reality (AR) Pizza Chef for its ordering ...

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Ridesharing, organic farming among sectors to watch in 2019

Ridesharing, organic farming among sectors to watch in 2019

Market research group IBISWorld has put ridesharing services at the top of its list of growth industries to follow in Australia this year, with booms also expected for LNG, organic farming, software publishing and foreign banks. With an estimated revenue in Australia of $157.6 million in 2017-18, the ridesharing industry starts from a low...

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Fortnite, Overwatch and Smash Bros join Esports Mogul roster

Fortnite, Overwatch and Smash Bros join Esports Mogul roster

Some of the world's biggest console games are joining Esports Moguls' (ASX: ESH) growing catalogue of titles. Fortnite, with over 200 million players worldwide, will be available on Esports Moguls' Mogul.gg platform a fully automated tournament and matchmaking platform. These console games will be part of one of the bigges...

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The year ahead in property is filled with challenges and changes

The year ahead in property is filled with challenges and changes

The tremors of political instability, a tough economy, and the rise of e-commerce are the guiding forces behind what looks like a challenging 2019 for the Australian property market. These conditions, which bubbled under the surface in 2018, are set to make and break investments this year, but could provide some clarity for trends we'...

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Healius rejects "opportunistic" takeover offer from Chinese company

Healius rejects "opportunistic" takeover offer from Chinese company

Australian hospital operator Healius (ASX: HLS) has rejected a $2.02 billion offer from its largest shareholder Jangho Hong Kong Holdings just days after the offer was made. Describing the offer as "opportunistic" a unanimous Healius board says the proposal from Jangho "fundamentally undervalues Healius". "Con...

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Creso expands into Sri Lankan market with its cannabis product offering

Creso expands into Sri Lankan market with its cannabis product offering

One of the leading listed Australian cannabis companies Creso Pharma will expand into Sri Lanka with its therapeutic products. The company has signed a letter of intent with Ceyoka Health, one of Sri Lanka's leading pharmaceutical distribution companies, to geographically expand the distribution of its products. The partnership wi...

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Australia's top 100 young entrepreneurs

Australia's top 100 young entrepreneurs

These young business men and women are our future business leaders fuelling the nations vibrant business culture, making our local economies tick and inspiring us with their drive and innovation.

They are well informed risk-takers who think outside the box. They have worked hard at building their empires and are prepared to act on ideas ...

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Appeal dismissed for former MFS execs involved in $147.5M misappropriation

Appeal dismissed for former MFS execs involved in $147.5M misappropriation

The Queensland Court of Appeal has dismissed appeals from three former executives who were connected to the misappropriation of $147.5 million at MFS, which collapsed in 2008 with debts in the order of $2.5 billion. The court dismissed appeals from MFS Investment Management's (MFSIM) former CEO Guy Hutchings and former deputy CEO&nbsp...

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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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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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CannPal to file with FDA after positive and "surprising" results for cannabis pet medicine

CannPal to file with FDA after positive and "surprising" results for cannabis pet medicine

"Having the data now to actually move forward and file an INAD is definitely what we're excited about," says CannPal Animal Therapeutics (ASX: CP1) founder and managing director Layton Mills. An INAD (Investigational New Animal Drug) application in the US may not sound exciting to most, but in pharmaceutical development it s...

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Sonic Healthcare to boom with $750m US acquisition

Sonic Healthcare to boom with $750m US acquisition

Sonic Healthcare (ASX: SHL) could become one of the world's largest pathology groups after reaching a binding agreement to purchase US company Aurora Diagnostics for US$540 million ($750 million). If the deal passes the necessary anti-trust approvals, Florida-based Aurora will bring 1,200 staff including 200 pathologists under the Son...

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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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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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