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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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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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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Snack Brands signs $400m pre-lease deal in Sydney's west

Snack Brands signs $400m pre-lease deal in Sydney's west

Iconic chip company Snack Brands has secured one of Australia's largest industrial developments of 2018 on a new state of the art 30,000 square-metre pre-lease facility in Erskine Park in Sydney. Snack Brands, whose products include CC's, Thins, Kettles and Cheezels among others, has committed to both a pre-lease facility and adja...

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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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Creso to dual list on Canadian exchange

Creso to dual list on Canadian exchange

One of Australia's leading medicinal cannabis producers Creso Pharma (ASX: CPH) is set to list on the Toronto Venture Exchange (TSX-V). This move to dual list in Canada was described as a natural move for the company by Creso CEO Dr Miri Halperin Wernli considering the country recently legalised recreational cannabis. "This i...

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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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Myer receives "second strike" on remuneration

Myer receives "second strike" on remuneration

Shareholders of Myer (ASX: MYR) have delivered a "second strike" on remuneration at the company's AGM in Melbourne, with 37.49 percent of proxy votes rejecting the resolution. At perhaps the most important AGM in Myer's history, shareholders backed an aggressive and ongoing campaign from the company's biggest investo...

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Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award

Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award


In the aftermath of the carnage of the GFC, Rouad Elayoubi decided after 13 years in the construction business it was time to got it alone and he formed the Alliance Project Group with a staff of four, taking on small jobs that others didn't want to do. That was 2011 and in the seven years since, Elayoubi's company has evolved ...

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Retail Food Group chairman flags asset sales, imminent "major restructuring"

Retail Food Group chairman flags asset sales, imminent "major restructuring"

The new executive chairman brought in to change Retail Food Group's (ASX: RFG) fortunes says 2019 will be "another demanding year", with asset sales and job cuts looking likely for the for the franchise operator. For Peter George, who has worked on the turnaround of companies including Optus and Asciano, RFG's woes ...

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First-ever Sydney Young Entrepreneur Awards to kick off tonight

First-ever Sydney Young Entrepreneur Awards to kick off tonight

The cream of the crop of Sydney's young entrepreneur community will converge on Doltone House in Hyde Park tonight for a gathering that promises to be a regular festive evening on the city's calendar for many years to come. The inaugural 2018 Sydney Young Entrepreneur Awards are hosted by Business News Australia, recognising the c...

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ARA and Roy Morgan forecast Christmas spending to exceed $51b

ARA and Roy Morgan forecast Christmas spending to exceed $51b

The Australian Retailers Association (ARA) and market research group Roy Morgan expect a "bountiful" Christmas this year for stores specialising in electronics, with consumers of all ages set to indulge in new gadgets and technology. Electronics and hi-fi products fall under the groups' 'Other retailing' category whi...

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Booktopia launches $10m equity crowdfund

Booktopia launches $10m equity crowdfund

Australia's leading online bookseller Booktopia is turning a new page in Australian equity raising with a new crowdfunding scheme to offer 8.1 per cent of the company to investors through the platform Equitise. The Booktopia Group plans to raise up to $10 million at $1 per share, giving Australians a local investment opportunity in a ...

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THC Global expands to NZ with medicinal cannabis range

THC Global expands to NZ with medicinal cannabis range

Within weeks of acquiring a Canadian cannabis growing facility, THC Global (ASX: THC) is living up to its name through international expansion into the New Zealand market. The Sydney-based group has secured exclusive rights in New Zealand to import a range medicinal cannabis products based on cannabidiol (CBD) oil extracts from Danis...

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Why should Myer report its quarterly sales?

Why should Myer report its quarterly sales?

Myer Holdings (ASX: MYR) chairman Garry Hounsell (pictured) has lambasted major shareholder Solomon Lew in a letter to the Australian Stock Exchange (ASX), claiming a "particularly disrupted" trading environment has been the result of sustained attacks from Lew's Premier Investments (ASX: PMV). The letter was in response to ...

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How integrity can save your website during a redesign

How integrity can save your website during a redesign

Any business owner worth their salt knows that an effective, or ineffective online advertising campaign, can make or break their company's bottom line profit. What they might fail to recognise however, are the red flags associated with digital agencies that are more concerned with making sales rather than delivering ethical outcomes. ...

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Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Solomon Lew: 'failed' Myer board has handed its keys to the big banks

Under-siege Myer Holdings (ASX: MYR) has announced it has completed the refinancing of its bank facility, as Solomon Lew's Premier Investments continues its savage attacks on the department store chain. The company has extended the maturity to February 2021 and says this will give Myer the "confidence and ability" to deliver...

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Catalano lobs new bid to stop Fairfax-Nine merger deal

Catalano lobs new bid to stop Fairfax-Nine merger deal

Former Domain CEO Antony Catalano has confirmed he will mount a court challenge to the merger between Fairfax Media (ASX: FXJ) and Nine Entertainment (ASX: NEC), saying he has the financial backing to acquire a 20 percent stake in his former employer. Catalano says he has a superior proposal to the Fairfax-Nine merger, which was given sha...

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Businesses urged to watch out for email invoicing scams

Businesses urged to watch out for email invoicing scams

Scamwatch, the competition regulator's website highlighting business scams, is calling on businesses to urgently review how they verify and pay accounts and invoices as reports of business email compromise (BEC) scams have grown by a third this year. "This is a very sophisticated scam, which is why many businesses only realise th...

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'It takes time to turn this business around', McGrath CEO says

'It takes time to turn this business around', McGrath CEO says

Collapsing sales volumes and the departure of key sales agents and franchisees have hit real estate group McGrath Limited (ASX: MEA) which has booked a full year loss of $63 million on the back of a revenue drop of 23 percent over the previous year. At the company AGM on Friday, McGrath CEO Geoff Lucas revealed the serious issues facing t...

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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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