Westpac earnings will take a hit to "get it right"

Westpac earnings will take a hit to "get it right"

Westpac has flagged a potential $290 million reduction in earnings as a result of ongoing remuneration programs for customers. The funds are part of Westpac's remuneration programs in the wake of the financial services Royal Commission findings and is expected to impact the group's 1H19 figures. CEO Brian Hartzer says looking ...

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Tech startup Doshii scores Deliveroo deal

Tech startup Doshii scores Deliveroo deal

Leading food company Deliveroo has announced a partnership with Melbourne-based Hospitality and Retail API Platform Doshii to streamline processing orders for restaurant partners, which will make the process of getting Australia's favourite restaurant foods delivered to customers' doors more seamless. Restaurants who partner with ...

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Smiggle pushes into new markets on profit rise for Premier Investments

Smiggle pushes into new markets on profit rise for Premier Investments

Solomon Lew's Premier Investments (ASX: PMV) will push its stationery brand Smiggle into 10 new countries in a strategy involving online and new stores which aims to target more than 700 million people. Smiggle will be pushing into South Korea, Indonesia, Thailand, the Philippines, the UAE and Canada directly with local operators and ...

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Navitas agrees to $2.1b takeover offer

Navitas agrees to $2.1b takeover offer

Education services provider Navitas (ASX: NVT) has agreed to a $2.1 billion takeover offer from a consortium led by private equity firm BGH Capital after months of wrangling between the two camps. BGH Capital, along with AustralianSuper and former Navitas CEO and founder Rod Jones, secured its long-awaited first deal after stalking its ta...

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The tug of war for Xenith IP Group heats up

The tug of war for Xenith IP Group heats up

The battle for control of Australia's intellectual property law firms continues as Xenith IP Group (ASX: XIP) is pulled in two opposing directions. Overnight IPH (ASX: IPH), Australia's largest supplier of IP services, released a letter addressed to IPH and Xenith shareholders detailing the various reasons why their proposal is be...

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LandMark White's data breach just the beginning for cyber criminals

LandMark White's data breach just the beginning for cyber criminals

Though the dust is yet to settle and the full effects of the data breach suffered by LandMark White are yet to be revealed, it's safe to say one tiny error has led to a world of pain for the listed property valuer. Whether it was the 10 days that LMW's data was sitting on the dark web free for anyone opportunistic enough to grab, ...

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Significant demand pushes WiseTech raise up $50 million, closes at $300 million

Significant demand pushes WiseTech raise up $50 million, closes at $300 million

Shareholders hungry for a slice of logistics software giant WiseTech (ASX: WTC) has pushed its capital raise up from $250 million to $300 million. Announced yesterday, the raise by one of the fastest risers in this year's Sydney's Top Companies List is intended to assist the company with its growth plans. At the close of the p...

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Blackmores heir takes over as CEO of the company

Blackmores heir takes over as CEO of the company

The son of the late founder of Blackmores (ASX:BKL) will take over the health company as interim CEO. Executive director Marcus Blackmore (pictured) will step in as interim CEO from 1 April. The appointment of Marcus comes following the shock resignation of Richard Henfry in late February after just 18 months in the role. Henfry s...

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AMP sells outer Sydney retail centre for $140M

AMP sells outer Sydney retail centre for $140M

A retail centre 35km west of the Sydney CBD that houses anchor tenants including Bunnings and The Good Guys has been sold for $140 million to property investment firm Ashe Morgan. AMP Capital Diversified Property Fund sold the Crossroads Homemaker Centre in a deal that was co-marketed by Stonebridge Property Group and CBRE. CBRE ...

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Abacus sells Liverpool Plaza for $46 million

Abacus sells Liverpool Plaza for $46 million

Abacus Property Group (ASX: ABP) has sold long-term asset Liverpool Plaza to an undisclosed local group for $46 million. The buyer ran an unsolicited campaign to acquire the property which was first purchased by Abacus in August 2004. Abacus says that although the company was not initially trying to actively sell Liverpool Plaza, it f...

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Atlassian to buy AgileCraft for US$166M

Atlassian to buy AgileCraft for US$166M

One of Australia's most renowned tech unicorns on the global stage is set to boost its workforce productivity software offering through the US$166 million ($234 million) purchase of Texas-based AgileCraft. Atlassian Corporation (NASDAQ:TEAM) is a major provider of team collaboration and productivity software, and its Sydney-based foun...

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WiseTech to raise $250M for global growth ambitions

WiseTech to raise $250M for global growth ambitions

One of the fastest risers in this year's Sydney's Top Companies List has announced an institutional placement worth more than its revenue in FY18, following on from an aggressive period of acquisitions around the globe. Founded and led by former music industry executive Richard White (pictured), WiseTech Global (ASX: WTC) has...

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Mark Wahlberg invests in Aussie fitness chain

Mark Wahlberg invests in Aussie fitness chain

Hollywood has come knocking for F45 founder and CEO Rob Deutsch with the news that silver screen hunk Mark Wahlberg has invested in the hit Australian fitness chain. According to the Sydney Morning Herald , Wahlberg's investment in F45 now values the company at $634 million. This high-profile investment is yet another jewel i...

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Xenith rebuffs IPH takeover bid

Xenith rebuffs IPH takeover bid

The board of intellectual property company Xenith (ASX: XIP) is not impressed by a 9 per cent lift in IPH's (ASX: IPH) takeover offer, and will press on with another merger in the works.  In an announcement today the group concluded IPH had not presented a superior offer to the merger deal underway with QANTM Intel...

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Landmark White reveals data hack details

Landmark White reveals data hack details

Executives at property valuer Landmark White (ASX: LMW) can breathe a sigh of relief after a data breach risk assessment revealed most people affected were at "very low risk of harm". Revelations of the hacking incident led to a voluntary suspension of LMW shares on 19 February that remains in place, while a "significant nu...

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Red Bubble off the hook in Hells Angels copyright case

Red Bubble off the hook in Hells Angels copyright case

A website that allows independent artists to sell print on demand (POD) designs online has avoided hefty damages after the Federal Court of Australia ruled in its favour in a copyright case brought by Hells Angels Motorcycle Corporation. The bikie gang was suing Melbourne-based Redbubble (ASX: RBL) for publishing Hells Angels tradema...

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CropLogic secures growing licence for major US hemp state

CropLogic secures growing licence for major US hemp state

Agricultural technology company CropLogic (ASX: CLI) is now one of the first ASX-listed companies to receive a US hemp growers licence after authorities in the Pacific Northwest state of Oregon gave it the green light. The news of CropLogic's licence for cultivating industrial hemp comes less than a week after the company signed a lea...

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Class action looms for IOOF

Class action looms for IOOF

While Australia's prudential watchdog takes action against IOOF (ASX: IFL) directors and executives over alleged misconduct, the wealth manager is about to face another legal battle. Sydney-based law firm Quinn Emanuel Urquhart & Sullivan announced today it planned to file a class action against IOOF, arising from evidence given a...

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Freelancer and Arrow Electronics partner to revolutionise how hardware is built

Freelancer and Arrow Electronics partner to revolutionise how hardware is built

Freelancer.com (ASX: FLN), the world's largest freelancing marketplace, has partnered with Arrow Electronics to launch a technology engineering talent marketplace. Called ArrowPlus, the platform allows Fortune 500 companies and technology startups to fast-track the design and build of new technology products by gaining access to over ...

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As the web turns 30 its creator warns of a bleak future

As the web turns 30 its creator warns of a bleak future

The World Wide Web is now 30 years old! In such a short period of time the invention of the Internet has changed our lives forever. But the creator of the web says not all changes have been for the good of humanity. In a public letter Sir Tim Berners-Lee, the inventor of the web and the founder of the World Wide Web Foundation, reflects o...

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Retail Food Group "damaged the reputation of franchising" slams parliamentary report

Retail Food Group "damaged the reputation of franchising" slams parliamentary report

The parent company behind Brumby's, Donut King, and Michel's Patisserie has been slammed by a parliamentary inquiry into Australian franchisors. The committee devoted a chapter in their Fairness in Franchising report released today to Retail Food Group (ASX:RFG) as an example of a franchisor who is taking advantage of an insuffici...

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Stockland sells off another $143 million of retail assets

Stockland sells off another $143 million of retail assets

Stockland's strategy to divest $400 million of assets in 24 months has hit another milestone today with the announcement that the property manager has sold another $143 million in retail assets. The company has sold its interest in the Stockland Cleaveland shopping centre in Brisbane and the Toowong retail and commercial centre in Bri...

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Kathmandu hit by hackers

Kathmandu hit by hackers

The personal information and payment details of Kathmandu Holdings' (ASX, NZX: KMD) online customers may be at risk after the outdoors and adventure retailer today revealed a security breach of its website platform. The company recently became aware an unidentified third party had gained unauthorised access to the website some ti...

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Investment firm launches $20 million takeover bid for Yowie

Investment firm launches $20 million takeover bid for Yowie

Yowie (ASX: YOW) might be completely gobbled up by Australian investment firm Keybridge Capital (ASXL KBC) for a cool $20 million. The underperforming confectioner is facing the takeover by Keybridge following a disappointing first half during which the company recorded a loss of $871,000. Keybridge looks to be taking advantage of thi...

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Oliver's Real Food shares surge on founder's return

Oliver's Real Food shares surge on founder's return

A healthy fast food chain with bloated overheads is about to rein in costs through an executive overhaul that has already led to a doubling of its share price since the announcement was made on Monday morning. That company is Oliver's Real Food (ASX: OLI), an enterprise headquartered on the Central Coast of New South Wales that listed...

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Retail Food Group denies administration rumours

Retail Food Group denies administration rumours

Embattled franchisor Retail Food Group (ASX: RFG) has denied reports in the Courier Mail citing "word on the street" speculation that administrators could be called in as soon as next week. The operator of food brands including Brumby's, Donut King, Michel's Patisserie and Gloria Jeans reported a loss of $111 million for...

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Zelda strikes up partnership to break into US medicinal cannabis market

Zelda strikes up partnership to break into US medicinal cannabis market

Zelda Therapeutics (ASX: ZLD) has entered into a partnership that could see it grab a serious slice of the US medicinal cannabis market. Zelda and Ilera Healthcare will explore a range of commercialisation opportunities to tap into the lucrative US medicinal cannabis market. Though not legal or decriminalised federally, the United Sta...

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IPH threatens QANTM-Xenith merger with counterbid

IPH threatens QANTM-Xenith merger with counterbid

Intellectual property company IPH (ASX: IPH) is upping the ante in its courtship of Xenith (ASX: XIP), putting in a higher takeover bid it claims will bring greater value than a merger in the works with QANTM Intellectual Property (ASX: QIP). Xenith knocked back IPH's $1.80 per share offer in November, opting instead for an all-scrip ...

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Liquidator appointed to wind up Shoes of Prey

Liquidator appointed to wind up Shoes of Prey

Custom to-order shoes business Shoes of Prey has appointed FTI Consulting's Kelly Trenfield and John Park to wind up the business as the company's journey comes to an end. The liquidation comes as the company announced it was considering its future and was putting orders on pause in August 2018. The liquidation of the company ...

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Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

After months of withholding notes from interviews of current and former AMP representatives, law firm Clayton Utz has finally coughed up documents requested by the Australian Securities and Investments Commission (ASIC). The notes formed the basis for Clayton Utz's October 2017 report on on fees for no service (FFNS) that was consider...

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