High-speed gateway to Asia arrives in Sydney

High-speed gateway to Asia arrives in Sydney

A fibre cable that will help improve Australia's international capacity and digital connectivity has landed in Coogee Beach in Sydney, putting the INDIGO consortium on track to having its project linking the country's largest city with Singapore completed by mid-2019. The consortium, including SubPartners, AARNet, G...

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Australia's top 20 cannabis companies

Australia's top 20 cannabis companies

Australia is currently sitting on the precipice of a brand-new industry, one projected to be worth big dollars in the near future. In the wake of Canada's historic move to legalise recreational cannabis nation-wide, Prohibition Partners has released a comprehensive report into the legal cannabis industry. The Oceania Cannabis Repo...

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Short seller takes aim at Corporate Travel Management

Short seller takes aim at Corporate Travel Management

Just two months ago travel agency Corporate Travel Management ('CTM', ASX: CTD) was flying high after announcing record EBITDA for FY18, but now its success has been called into question by hedge fund VGI Partners. The Brisbane-based travel agency has entered a trading halt while it takes time to review a searing 176-page presenta...

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Solomon Lew calls for Myer board to be wiped out

Solomon Lew calls for Myer board to be wiped out

Solomon Lew's long-game against Myer (ASX: MYR) is reaching a climax as the company edges closer to its 2018 AGM. This morning Lew responded to Myer's annual report by once again calling for the Myer board to be wiped out and rebooted. Citing the lack of retail experience of current chairman Garry Hounsell, Lew accused the Mye...

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New owners for Pumpkin Patch

New owners for Pumpkin Patch

Alceon eventually plans to launch stand-alone Pumpkin Patch stores. The same Sydney-based company that bought out SurfStitch earlier this year has acquired well-known children's wear brand Pumpkin Patch from e-commerce giant Catch Group. Alceon Group completed the transaction this month to secure Pumpkin Patch's existing stock...

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Grant Hackett to lead Generation Development Group

Grant Hackett to lead Generation Development Group

Swimming legend-turned-finance executive Grant Hackett has been appointed CEO of Melbourne-based investment house Generation Development Group (ASX: GDG), with a focus on growing its recently acquired business Ascalon Capital Managers. Hackett joined GDG in September 2017 and has been "instrumental" in lifting sales performance ...

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Ex-Macquarie exec takes top job at Yellow Brick Road

Ex-Macquarie exec takes top job at Yellow Brick Road

Yellow Brick Road (ASX: YBR) has appointed an ex-Macquarie board member to its helm, just weeks after a wild ride which included an unsolicited takeover offer of the company and a collapsed $300 million credit facility. Frank Ganis, former executive director at Macquarie Group, has joined the mortgage broker as CEO and is expected to help...

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Bod secures first prescription for MediCabilis cannabis oil and new research partner

Bod secures first prescription for MediCabilis cannabis oil and new research partner

It has been a long time coming for listed medicinal cannabis player Bod Australia (ASX: BDA), but they've finally secured their first prescription. The company announced this morning that it has received its first prescription and required Special Access Scheme approvals for its MediCabilis cannabis oil product. The approval shoul...

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Darrell Lea gobbles up Heritage Fine Chocolates

Darrell Lea gobbles up Heritage Fine Chocolates

Darrell Lea has acquired confectioner Heritage Fine Chocolates in a move to satisfy its sweet tooth for new products and grow its footprint in Melbourne. The beloved chocolatier expects its "bold plans for manufacturing" will be easier to achieve following the acquisition which will create as many as 50 new jobs within the next ...

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Qantas' strong results defy Flight Centre's oil price fears

Qantas' strong results defy Flight Centre's oil price fears

Earlier this week travel agency Flight Centre's investors panicked for a range of reasons, with shares plummeting more than 10 per cent in a day. Flight Centre managing director Graham Turner warned that lower profits from Flight Centre's Australian business, coupled with rising oil prices hitting airfares, could negatively a...

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Misbehaving banking and finance leaders could face 10 years in jail

Misbehaving banking and finance leaders could face 10 years in jail

Amidst public outrage over the dodgy dealings revealed in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services, the government is taking action. Treasurer Josh Frydenberg has today announced new legislation in the federal parliament to significantly crack down on the individuals behind major instituti...

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Wilson makes counter bid to run Blue Sky access fund

Wilson makes counter bid to run Blue Sky access fund

Less than a week after Blue Sky Alternative Investments (ASX: BLA) reached a deal for Pinnacle Investment (ASX: PNI) to manage its alternative access fund from the start of 2019, a new contender has come on the scene. In an announcement today, the group's $177 million Blue Sky Alternative Access Fund (ASX: BAF) informed sharehold...

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McGrath says sluggish property market to blame for earnings woes

McGrath says sluggish property market to blame for earnings woes

A slowing property market and dwindling auction numbers have put pressure on McGrath (ASX: MEA) during the first quarter. The real estate giant says auction clearance rates and the number of properties taken to auction are at levels "well below the previous year". Meanwhile, there has been an increase in stock on the market ...

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Megaport plugs in to new revenue growth streams

Megaport plugs in to new revenue growth streams

Megaport (ASX: MP1) has seen its revenue surge by almost a fifth in the first quarter on the back of new data centre partnerships and a dominant theme of US expansion. The company deployed its software defined networking (SDN) service in 13 new locations in the quarter of which nine were in the US, helping it leverage a first-mover advant...

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IMF Bentham calls $84m raising to seize litigation trends

IMF Bentham calls $84m raising to seize litigation trends

Global litigation funder IMF Bentham (ASX: IMF) is preparing to raise over $84 million to prepare for a range of opportunities presently in reach for the company. The listed company will conduct a fully underwritten institutional placement to raise $74.48 million, comprising an issue of 26.6 million new IMF ordinary shares. The group ...

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EVENT's German problem child offloaded for $358 million

EVENT's German problem child offloaded for $358 million

EVENT Hospitality & Tourism (ASX: EVT) has said auf wiedersehen to its chain of German cinemas after determining it to be a dead end at the end of FY18. The listed company behind QT resorts, Event Cinemas, and Thredbo Alpine Resorts today announced it has sold its German cinema chain CineStar for potentially $358 million. Vue Inte...

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Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel Property Group has purchased a homemaker centre just north of Newcastle for a cool $23.3 million. Anchored by Bunnings, the centre is in a high exposure location with Pacific Highway frontage at Heatherbrae. This facility will be the third addition to the Sentinel Homemaker Trust, which also includes City West Plaza at Sunshi...

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Terry White supports takeover offer from EBOS

Terry White supports takeover offer from EBOS

Over the last few years, Terry White has grown to become one of the largest Australian pharmaceutical chains in the country. Following its merger with Chemmart in 2016, Terry White is looking to grow even further by selling itself off to Australia's largest and most diversified marketer, wholesaler and distributor healthcare goods: EB...

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Localsearch helping rural businesses find calm among the chaos online

Localsearch helping rural businesses find calm among the chaos online

With so many digital products available these days, business owners can easily find themselves caught up in a tangled mess. Cutting through the saturated online market is a tough slog for any company, but especially those based in rural areas. Daniel Stoten, co-founder of Localsearch, spearheaded the company's transition to digita...

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Aussie cannabis company on the verge of milestone deal with Israel

Aussie cannabis company on the verge of milestone deal with Israel

While many Aussie cannabis companies have hunted for opportunities in Canada this week, Queensland Bauxite (ASX: QBL) is doing deals in other parts of the world. Historically a mining company, Queensland Bauxite made a name for itself as one of Australia's leading medical cannabis companies through its acquisitions of Medical Cannabis...

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Roger David enters administration, to close after Christmas

Roger David enters administration, to close after Christmas

76-year old retailer Roger David has entered administration citing a failure to keep up with the evolving global retail environment. The men's clothing chain, which has 57 stores nationwide employing over 300 staff will continue to operate into the Christmas retail period but its future is bleak. The chain has appointed KordaMenth...

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Looking for a fabulous place to celebrate the Melbourne Cup?

Looking for a fabulous place to celebrate the Melbourne Cup?

With the Melbourne Cup quickly approaching, securing the perfect venue is essential. Whether you fancy trying your luck in the sweeps, enjoying a glamourous luncheon with colleagues and friends or you are simply looking for a great excuse to put on your best dresses, suits and fascinators, these venues have something to offer ev...

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Supermarkets facing a potential royal commission following drought levy milk scandal

Supermarkets facing a potential royal commission following drought levy milk scandal

After Federal Agriculture Minister David Littleproud tore into supermarkets yesterday over a "disappointing" drought levy on in-house milk, members of the government are calling for a royal commission into Australian supermarkets. In parliament yesterday, Queensland Nationals MP Lew O'Brien said there is nearly enough outcry...

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Canada's marijuana legalisation a boon for Aussie companies

Canada's marijuana legalisation a boon for Aussie companies

While Australia may be known globally for its pioneering spirit in sectors like mining, medical research, water management and technology, our local cannabis industry is being cultivated as the next frontier for savvy entrepreneurs.  The incoming trend is no more apparent than the significant and serious investment Australian cannabi...

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Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Update: Since this story was published, APDC has advised that Bankwest confirmed its consent to pay the special distribution and the September quarterly distribution.  After already dropping its price to get the Asia Pacific Data Centre Group (APDC) saga over and done with, former majority shareholder 360 Capital may end up...

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Optus faces $10m in penalties for allegedly misleading customers

Optus faces $10m in penalties for allegedly misleading customers

The Australian Competition and Consumer Commission (ACCC) is looking to hit Optus with $10 million in penalties after the telco allegedly mislead customers in relation to its third-party billing service. The ACCC's investigation uncovered that from April 2014 Optus' third-party billing service (known as 'Direct Carrier Billing...

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NAB sets aside $314m for customer compensation

NAB sets aside $314m for customer compensation

NAB (ASX: NAB) is the latest bank to set aside a large swathe of cash to compensate its customers. In total, NAB will set aside $314 million for refunds and compensation for issues including adviser services fees and plan service fees. As part of the compensation, $53 million is related to discontinued operations. The costs associ...

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NEXTDC completes takeover of APDC Group

NEXTDC completes takeover of APDC Group

The long-running battle for control of Asia Pacific Data Centre (APDC) has come to an end with NEXTDC announcing it has completed its takeover of the data centres. NEXTDC now has control of 97 per cent of the securities in APDC, paying $2 per security for the remaining shares on offer. As a result of having an interest in APDC of over...

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MGC Pharma gets green light for cannabis-based epilepsy drug

MGC Pharma gets green light for cannabis-based epilepsy drug

Listed medicinal cannabis company MGC Pharma (ASX: MXC) has reached another milestone in its mission to become a world-leading pharma company with the release of its new epilepsy drug. Called CannEpil, the drug is now available for supply in Australia through specialist prescribers under the Authorised Prescriber Scheme. Authorisation...

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Slater & Gordon launches 'Get Your Super Back' class action against Commonwealth Bank

Slater & Gordon launches 'Get Your Super Back' class action against Commonwealth Bank

Law firm Slater & Gordon (ASX: SGH) believes it could recoup more than $100 million for thousands of superannuation members through a recently launched class action against Commonwealth Bank (ASX: CBA) and its subsidiary Colonial First State. Slater & Gordon says this is the first class action of its 'Get Your Super ...

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