Aussie AI ace Appen to acquire US business for up to $428M

Aussie AI ace Appen to acquire US business for up to $428M

Update: On 12 March Appen announced its $285 million placement to help fund the acquisition was successfully completed.  Machine learning and AI company Appen (ASX: APX) expects a material increase in its revenue and customer base following a binding agreement to acquire San Francisco-based Figure Eight Technologies, Inc. The Syd...

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Australian Ag Co estimates damages, cattle loss from floods

Australian Ag Co estimates damages, cattle loss from floods

Beef producer Australian Agricultural Company (ASX: AAC) will need to repair thousands of kilometres of boundary fences now that floods have receded in North Queensland, but the positive news is it appears cattle losses were lower than expected in some areas.  As a preliminary estimate drawing from on-the-ground surveys, mi...

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Yellow Brick Road erases its goodwill as the Royal Commission makes impact

Yellow Brick Road erases its goodwill as the Royal Commission makes impact

Update: On 21 March, ASIC raised concerns about the "reasonableness and supportability" of Yellow Brick Road's revenue growth forecasts used to test lending cash-generating unit (CGU) assets in the 2018 financial year, taking into account performance, market conditions and industry risks.  Wealth management busines...

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How this tenacious entrepreneur beat brain trauma to become a tech success story

How this tenacious entrepreneur beat brain trauma to become a tech success story

Christy Laurence knows better than most what it takes to be a resilient businesswoman. The seasoned advertising executive left a cushy corporate gig with Insurance Australia Group to chase the entrepreneurial dream just over three years ago. Laurence then founded Plann, an Instagram planning, scheduling and analytics tool which is des...

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The woman who denied retirement to create a multi million-dollar empire

The woman who denied retirement to create a multi million-dollar empire

When Deb Farnworth-Wood first moved to Australia with her husband, the pair were a couple of UK expats who were ready to chase the sunburnt and sandy dream of a Gold Coast retirement. After only a couple of weeks in the country however, the seasoned entrepreneur decided to forgo R&R and instead dive headfirst into a new career journey...

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The Star to launch new Jones Bay Wharf restaurant

The Star to launch new Jones Bay Wharf restaurant

For the first time ever, The Star is going off-property to launch its latest restaurant headed up by two superstar chefs in July this year. The Star's new signature restaurant, Chuuka, will take over an iconic location in Jones Bay Wharf, previously home to iconic Sydney restaurant Flying Fish. Headed by Chef Chase Kojima (picture...

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Mark Zuckerberg lays out a future for Facebook that promises to be private

Mark Zuckerberg lays out a future for Facebook that promises to be private

In just a few short years Facebook went from one of the most popular social media platforms, beloved by millions, to one that its users no longer trust. Though privacy issues were a problem for Facebook pre-2018 it was the Cambridge Analytica scandal that led to many vowing to ditch the social media site. Bots, political misinformatio...

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Rosella partners with Kagome Australia for new traceable tomato products

Rosella partners with Kagome Australia for new traceable tomato products

The need for transparency in the food industry is becoming more important as customers are starting to demand to know where their food is grown. This development in the sector is reflected in the changes major Australian food producers are making, and Aussie favourite Rosella is leading the charge. Rosella has announced a partnership ...

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Australian retailers continue to flounder in 2019

Australian retailers continue to flounder in 2019

The beginning of 2019 has not shown any improvement for Australian retailers, clawing only a tiny bit of sales back during the first month of the year. According to the January retail figures released by the Australian Bureau of Statistic (ABS) sales increased by just 0.1 per cent from December 2018. This slight increase follows the d...

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Merino Country woollen undies strike the right baa-lance

Merino Country woollen undies strike the right baa-lance

For many small businesses a high-profile defence contract would be like hitting the jackpot, but for woollen apparel manufacturer Merino Country it was a stepping stone to greater things.  With 20,000 customers worldwide, the Brisbane-based company celebrated 25 years in business last year and has come a long way from its o...

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Bubs signs agreement with major Chinese baby goods company

Bubs signs agreement with major Chinese baby goods company

Bubs Australia's (ASX: BUB) Chinese dreams are about to become reality as its new partnership with a Chinese baby goods giant comes into place. The Australian infant formula producer has signed an agreement with Beingmate Baby & Child Food Co, one of the largest Chinese owned enterprises in the infant nutrition industry. Under...

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Medlab partners up to develop and distribute cannabis drug for cancer pain

Medlab partners up to develop and distribute cannabis drug for cancer pain

Australian cannabis company Medlab (ASX: MDC) has teamed up with Canadian pharmaceutical company Pharmascience to develop and distribute a medicinal cannabis product aimed at treating pain in cancer patients. The two companies will research and develop NanaBis, a cannabis based drug that uses Medlab's proprietary spray delivery system...

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Convenience culture to shift shopping centre mix

Convenience culture to shift shopping centre mix

"Whilst the retail landscape is changing, neighbourhood shopping centres are relatively insulated from the overarching threat of e-commerce," says Nick Willis of CBRE.  The shopping centres of the future will increasingly be blended with other types of property, according to a recent report from real estate agency CBRE...

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Bank of Sydney to acquire new head office

Bank of Sydney to acquire new head office

An agreement to acquire 62 Pitt Street has been described by Bank of Sydney as another step in its ambitious growth strategy, with plans to make the CBD building the bank's signature branch and its Australian head office. The bank was not able to reveal the purchase price, but an information memorandum from Colliers International high...

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Will new funding round propel iVvy to the big leagues of software tech?

Will new funding round propel iVvy to the big leagues of software tech?

Software as a Service (Saas) outfit iVvy is taking its cloud-based event and venue management platform to new heights with a $5 million Series A funding round to accelerate global expansion. After disrupting the meeting and events industry in Australia and expanding internationally to include 12,000 users in 13 countries, the Gold Coast-h...

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RCR Tomlinson offloads upgrades and maintenance business

RCR Tomlinson offloads upgrades and maintenance business

The voluntary administrators behind RCR Tomlinson have completed another sale, bringing the total number of RCR businesses sold to eight. RCR's upgrades and maintenance (U&M) business has been sold to UGL Operations and Maintenance. The administrators, McGrathNicol, were unable to disclose the total sale price of the upgrades ...

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Online fashion retailer THE ICONIC increases market share

Online fashion retailer THE ICONIC increases market share

Online fashion retailer, THE ICONIC, has increased its market share in Australia and New Zealand from 9 to 15 per cent as it confirms its status as one of the fastest growing pure online plaer in both countries. The fashion and sports retailer released a trading update which also reveals it now sells 1,000 brands and 60,000 products on it...

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Retail Food Group shutting stores and slashing costs on heavy losses

Retail Food Group shutting stores and slashing costs on heavy losses

Under siege fast food franchise operator Retail Food Group (ASX: RFG) has closed 93 of its stores in the first half of the financial year and plans to shutter more as it revealed a loss of $111 million. RFG, which operates Donut King, Gloria Jeans, Michel's Patisserie, Brumby's and Crust Gourmet Pizza says it will continue to slas...

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Nexba secures funding from Gaingels just in time for Mardi Gras

Nexba secures funding from Gaingels just in time for Mardi Gras

Right in the midst of Mardi Gras Nexba has become the first Australian company to secure funding from Gaingels, an investment vehicle for LGBT founders. The sugar-free beverage producer, which recently expanded into the UK, scored $150,000 from Gaingels as part of its $6 million Series A capital raise. Derived from "gay angels&qu...

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Macquarie Telecom records another strong result

Macquarie Telecom records another strong result

For the past nine financial halves data centre operator Macquarie Telecom (ASX: MAQ) has recorded growth in revenue and profit. The half ending December 31 was buoyed by continued investments into the group's data centres, positioning the company well for the serious demand Australian businesses have for data storage. Revenue was ...

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Blackmores chief to step down

Blackmores chief to step down

The head of vitamin and supplements company Blackmores (ASX: BKL) will be stepping down after just 18 months in the role. The resignation of chief executive officer Richard Henfrey (pictured) was announced this morning, a week after the group forecast short-term impacts on profit growth due to softened conditions in China and the cos...

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WiseTech buys Containerchain for $92m

WiseTech buys Containerchain for $92m

Founder-led logistics software group WiseTech Global (ASX: WTC) is set to expand its international reach after sealing a deal to buy Singapore-based containerisation solutions provider Containerchain for $92 million. The acquired group covers more than five million import and export container movement notifications each year, and has offi...

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Lendlease restructures after 96 per cent profit dive

Lendlease restructures after 96 per cent profit dive

Lendlease (ASX: LLC) has reported a disappointing first half of the financial year, with profit diving to $15.7 million from $425.6 million in the previous year. This 96 per cent plummet has led management to announce a reconsideration of the value Lendlease's underperforming engineering and services business. The company has dete...

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ASIC swoops on GetSwift with civil proceedings

ASIC swoops on GetSwift with civil proceedings

GetSwift (ASX: GSW) and its directors Bane Hunter and Joel Macdonald are once again in the firing line. The Australian Securities and Investment Commission (ASIC) has today launched civil proceedings against GetSwift in the Federal Court of Australia in Melbourne. The proceedings relate to a series of ASX announcements made by GetSwif...

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Sydney's top companies 2019 revealed

Sydney's top companies 2019 revealed

The sale of Westfield Corporation to French retail conglomerate Unibail-Rodamco last year was always going to create a void in the upper reaches of our list of Sydney's top publicly-listed companies, but who would fill the vacancy? The leading five companies account for almost half of the Top 50's combined market capitalisation of...

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Medicinal cannabis players see green with new deals

Medicinal cannabis players see green with new deals

There have been some major cannabis deals done today in the hallowed halls of the Australian Stock Exchange. The two deals are set to increase access for patients looking for medicinal cannabis and improve the quality of medicines being created in Australia. First, Althea (ASX: AGH) has signed a supply and distribution agreement with ...

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Zip Co zooms ahead, more than double revenue

Zip Co zooms ahead, more than double revenue

The heat is on in the battle between the Australian buy-now pay-later (BNPL) darlings of the ASX, Zip Co (ASX: Z1P) and Afterpay. Zip Co seems to be making some ground on Afterpay with its 1H19 results (the latter has been ahead of Zip Co from day dot). The company reported record revenue during the first half, up 114 per cent to $34....

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Inside Australia's top venues offering exclusive deals on conferences, meetings and events

Inside Australia's top venues offering exclusive deals on conferences, meetings and events

Whether on Brisbane's riverside, the sunny Gold Coast or in the heart of Melbourne's bustling CBD, each of these venues has something special to offer when it comes to hosting a great conference, meeting or event. These venues are complete with state of the art facilities and the versatility to accomodate any event from an intimat...

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ASIC the enforcer: Regulator reveals raft of investigations in the works

ASIC the enforcer: Regulator reveals raft of investigations in the works

The Australian Securities and Investments Commission (ASIC) has announced it will set up a separate Office of Enforcement as part of a new "Why not litigate?" approach in the wake of the Royal Commission. The regulatory tiger will also have sharper teeth following the recent passing of the Treasury Laws Amendment Bill 2018, allo...

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LandMark White suspended from trading after client backlash

LandMark White suspended from trading after client backlash

LandMark White (ASX: LMW) has been suspended from trading on the ASX as the fallout from the data breach that saw company information leaked onto the dark web for ten days continues to develop. Late last week The Commonwealth Bank, NAB, and ANZ confirmed that they had suspended their contracts with LandMark White in order to investig...

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