Aveo confirms Brookfield as preferred takeover partner

Aveo confirms Brookfield as preferred takeover partner

Canadian investment group Brookfield has been named as Aveo's (ASX: AOG) preferred takeover partner. The senior living provider announced this morning it is in talks with Brookfield about a possible takeover. While the suitor has been named as Aveo's "preferred" takeover partner, the two still need to enter into defi...

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Elixinol secures exclusive German distribution deal

Elixinol secures exclusive German distribution deal

Germany's fledgling medicinal cannabis industry is ripe for the picking, and Australia's leading player in the sector is making moves to dominate. Elixinol Global (ASX: AXL), recently highlighted by Business News Australia as the top cannabis company in the country, has signed an exclusive agreement to distribute its products into...

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Medlab shares surge on strong sales results

Medlab shares surge on strong sales results

An Australian medicinal cannabis company achieved 50 per cent year-on-year revenue growth in the June quarter, backed by a roll-out of its nutraceutical range Priceline and TerryWhite Chemmart pharmacies. Medlab Clinical (ASX: MDC) recorded revenue of $3 million for the quarter, and that money didn't even come from its flagship NanaBi...

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Troubled Silver Chef settles for less

Troubled Silver Chef settles for less

Silver Chef (ASX: SIV) has come to an agreement with the consortium led by Next Capital that is seeking to take the company private. Now that Next Capital has pored over Silver Chef's books it appears as if Silver Chef is willing to settle for less. The embattled Silver Chef and the consortium led by Next Capital have deliberated ...

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Former Sirtex CEO pleads guilty to insider trading

Former Sirtex CEO pleads guilty to insider trading

The former CEO and director of biotech company Sirtex Medical, Gilman Edwin Wong (pictured), has pleaded guilty to one charge of insider trading. Wong was committed to the Sydney District Court for sentencing on a date to be fixed. The charge of insider trading relates to Wong's sale of 74,698 shares on 26 October 2016 while in po...

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Australian Unity Office Fund receives improved takeover offer

Australian Unity Office Fund receives improved takeover offer

A consortium of two major Sydney-based property companies has put some icing on the cake in its bid for Australian Unity Office Fund (ASX: AOF), a holder of nine metropolitan and CBD office properties with a market cap of close to $487 million. On 4 June, a group associated with Abacus Property Group (ASX: ABP) and Charter Hall Group...

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How Bondi Sands embraced Australia to sell to the world

How Bondi Sands embraced Australia to sell to the world

Business success often reads like witchcraft. A dash of this, a pinch of that, and the first hair of a newborn baby is all it takes for your business to be the next big thing! For the founders of Bondi Sands, the main ingredient in their spell is Australia itself. The company, which sells tanning and suncare products, has become one o...

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CuDeco goes into receivership

CuDeco goes into receivership

Gold Coast-headquartered copper miner CuDeco (ASX: CDU) has entered receivership after a year marked by the total suspension of its Cloncurry mine, a glimmer of hope from a cobalt deal and a string of executive departures. When founder Wayne McRae was touting the potential of CuDeco's Rocklands project in Cloncurry in 2006, shares in ...

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Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell Property Group (ASX: CMW) has exchanged contracts to sell its 50 per cent stake in Sydney's Northpoint Tower to a Hong Kong-based company for $300 million. The real estate manager will offload its remaining interest in Northpoint to Early Light International, which initially acquired 50 per cent of the asset from Redefine Pro...

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Could medicinal cannabis curb the opioid crisis?

Could medicinal cannabis curb the opioid crisis?

One of Australia's leading cannabis companies Zelda Therapeutics (ASX: ZLD) has been given the greenlight to commence an opioid reduction trial. The trial at St Vincent's Hospital in Melbourne will see Zelda assess the effectiveness of medicinal cannabis in reducing opioid dependence in patients with chronic non-cancer pain. T...

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People Infrastructure acquires nursing recruitment firms

People Infrastructure acquires nursing recruitment firms

Less than two weeks after its initial announcement, People Infrastructure (ASX: PPE) has completed the $16.8 million buyout of nursing businesses First Choice Care and Carestaff Nursing services. The acquisitions have bolstered People Infrastructure's growing health and community care business, and the company expects they will bring ...

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Flight Centre acquires French corporate travel business

Flight Centre acquires French corporate travel business

Flight Centre (ASX: FLT) has taken full ownership of Paris-based corporate travel group 3Mundi, bringing around 170 million euros ($275 million) in annual total transaction value (TTV) under its global umbrella. In 2017 Flight Centre took a 25 per cent stake in the company, and yesterday's acquisition was based on the terms of a put-c...

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Macquarie axes gambling, ups the ante on overseas spend

Macquarie axes gambling, ups the ante on overseas spend

In a move lauded by the Alliance for Gambling Reform, Macquarie Group (ASX: MQG) has announced that from today its credit cards can no longer be used in gambling transactions. Macquarie will block all credit card transactions that are registered under a gambling and lottery merchant code. The bank says it aims to "support the financi...

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Australia's top 20 cannabis companies

Australia's top 20 cannabis companies

With a stock market that is open to international investors and a rapid domestic take-up on cannabinoid-based medicines, Australia has become an unlikely hub for the booming global cannabis industry. According to a report from unlisted company Cannvalate, which incidentally has tie-ups with several groups on this list, Australia has the f...

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Domino's rejects underpayment claims

Domino's rejects underpayment claims

Domino's Pizza (ASX: DMP) denies it misled franchisees over employee payment terms and has reiterated plans to defend a class action launched by Phi Finney McDonald. Earlier this week it was revealed the law firm had started the action alleging Domino's underpaid delivery drivers and in-store workers between June 2013 an...

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Ord Minnett management take control as IOOF and JP Morgan exit

Ord Minnett management take control as IOOF and JP Morgan exit

A consortium of private investors will acquire private wealth manager Ord Minnett from IOOF (ASX: IFL) and JP Morgan for around $164 million. The consortium, led by current Ord Minnett management, is concurrently acquiring IOOF's 70 per cent stake in the wealth management business alongside JP Morgan's 30 per cent stake, allowing ...

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How to profit and be responsible: Exclusive Q&A with Andrew Banks and Nicholas Bernhardt

How to profit and be responsible: Exclusive Q&A with Andrew Banks and Nicholas Bernhardt

Andrew Banks and Nicholas Bernhardt believe that when running a business, profit and corporate responsibility aren't mutually exclusive. Granted, it is becoming harder for companies to ensure their supply chains aren't buying into an ethical nightmare, particularly given the mountains of fast-inflowing data related to overseas sup...

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Bubs snuggles up to Chinese chain with retail partnership

Bubs snuggles up to Chinese chain with retail partnership

Infant formula company Bubs Australia (ASX: BUB) has achieved its first major project through a joint venture formed in March, with the announcement today of a strategic channel partnership with China's largest mother and baby store chain. In March the Australian company entered a JV with Beingmate, a dairy company listed on the Shenz...

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AP Eagers sells Brisbane property for $61m

AP Eagers sells Brisbane property for $61m

AP Eagers (ASX: APE) is busily gearing up for its proposed merger with Automotive Holdings Group (ASX: AHG) with the sale of one of its properties near the Brisbane River. The car dealer sold its property at 99 Breakfast Creek Road, Newstead to the Seymour Group for $61 million. AP Eagers will continue to operate its business from the...

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Slater and Gordon files class action against AMP

Slater and Gordon files class action against AMP

Listed law firm Slater and Gordon (ASX: SGH) has launched a class action law suit against AMP (ASX: AMP) for allegedly charging customers excessive fees. Slater and Gordon alleges that, through arrangements entered into with related parties, trustees AMP Super and NM Super paid too much to related AMP entities for administration services....

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