Smartbank 86 400 launches nationwide

Smartbank 86 400 launches nationwide

Neobank 86 400 has its sights set on the traditional banking institutions in Australia and from today Australians interested in making the switch can open an account. The bank launches with two accounts called Pay and Save, both of which can only be accessed via 86 400's app. Those interested in the app do not even have to switch ...

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Blockchain goes bush with Power Ledger

Blockchain goes bush with Power Ledger

Power Ledger is taking its blockchain-based peer-to-peer power sharing technology outside of the city for the first time with a trial in Western Australia. The trial in WA is the first time Power Ledger has taken its tech to a regional area and will see commercial buildings trade excess solar power between each other, underpinned by the c...

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Neobank Xinja receives full banking licence

Neobank Xinja receives full banking licence

The Australian Prudential Regulation Authority (APRA) has granted Xinja Bank a full banking licence. This is a milestone for the company, and sees Xinja join Volt, Judo and 86 400 as the fourth 'neobank' to receive the licence. The effect of the licence means that Xinja can now open bank accounts to its early customers. Xi...

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iSignthis shares surge higher as monthly transactions pass $1.1 billion

iSignthis shares surge higher as monthly transactions pass $1.1 billion

Update: After this article was published shares rose further the following day, only to drop significantly after that down to $1.06 each (12 September 2019). Payment identity verifier iSignthis (ASX: ISX) has been one of the fastest risers on the ASX over the past 12 months, with its shares rising from $0.17 each in September 2018 to $1.3...

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Althea hits a new personal best in August

Althea hits a new personal best in August

Medicinal cannabis company Althea (ASX: AGH) has broken its own records during August, with more patients than ever now receiving the company's pharmaceuticals. The company saw 392 patients prescribed Althea products during August, at a rate of 18 patients per business day, representing the largest number of new patients to be prescri...

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Suncorp names new CEO

Suncorp names new CEO

Long-term Suncorp (ASX: SUN) employee Steve Johnston (pictured) has been named as the new CEO and managing director of the Brisbane-based financial services business. He replaces former CEO Michael Cameron who resigned after four years in the role. Johnston joined Suncorp in 2006 and has held various executive positions in the company...

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Rural Funds founder snaps up more shares as Bonitas turns up the heat

Rural Funds founder snaps up more shares as Bonitas turns up the heat

Rural Funds Group (ASX: RFF) founder David Bryant has purchased almost $500,000 worth of shares in the wake of a fresh attack from short seller Bonitas Research.  Led by one of the men who was responsible for the short on Blue Sky Alternative Investments (ASX: BLA) in 2018, late last week the Texan group stood by its position on the ...

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Industrial hemp player stays ahead of the curve with CBD import deal

Industrial hemp player stays ahead of the curve with CBD import deal

While Australian law does not yet permit the import of CBD products to the general market without the requisite licences, hemp group ECS Botanics (ASX: ECS) is getting ahead of its moment. The Tasmania-based company has signed an exclusive memorandum of understanding (MoU) with Disruption Labs to distribute, sell and import the company...

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Bonitas claims EY report "backfired" against Rural Funds

Bonitas claims EY report "backfired" against Rural Funds

The war of words between short sellers Bonitas Research and Rural Funds Group (ASX: RFF) continues today after the former finally responded to an Ernst & Young (EY) report commissioned by RFF. Instead of responding individually to every one of Bonitas' claims against the company, RFF opted to engage EY to produce a report into the...

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Zip Co buys second NZ business in as many months

Zip Co buys second NZ business in as many months

Less than a month after its successful acquisition of PartPay, Zip Co (ASX: Z1P) has bagged yet another New Zealand-based business. The buy-now pay later giant, rival to the likes of Afterpay, has today announced its acquisition of Spotcap for a total consideration of almost $8.83 million. The transaction is slated to provide Zip Co w...

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Class action alleges Westpac's super subsidiaries short-changed members

Class action alleges Westpac's super subsidiaries short-changed members

Westpac (ASX: WBC) subsidiaries BT Funds Management and Westpac Life Insurance Services have been hit with a class action from law firm Slater and Gordon (ASX: SGH). The class action alleges that superannuation members were short-changed by the bank's super funds. Slater and Gordon says members who invested in the BT Super for Lif...

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ASX drills Smiles Inclusive on shock $19 million loss announcement

ASX drills Smiles Inclusive on shock $19 million loss announcement

Late on Friday 30th August Smiles Inclusive (ASX: SIL) announced its disastrous FY19 results. Of particular note was its loss of $18.9 million during the financial year; a result that took the market by surprise. Now, the ASX has questioned Smiles over whether this significant loss was something the company should have alerted shareho...

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Online sales push Myer back into the black

Online sales push Myer back into the black

Department store Myer's (ASX: MYR) attempts to play catch-up with the now firmly established world of e-commerce appear to have finally paid off in FY19. The group's online sales increased by 25.6 per cent to $262.3 million in the financial year, following the relaunch of the Myer.com.au online shopfront in September 2018. Thi...

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Headwinds abound as TPG stumbles into 2020

Headwinds abound as TPG stumbles into 2020

The 2019 financial year was unpleasant for telco TPG Telecom (ASX: TPM) to say the least. First, the company was forced to abandon its planned 5G mobile network, what was to be Australia's fourth major mobile network, following the federal government's ban of Chinese-made Huawei 5G technology. Following this setback, the compa...

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THC secures new production site in Bundaberg

THC secures new production site in Bundaberg

Medicinal cannabis company THC Global (ASX: THC) has secured a lease over a prime site for cannabis production in Bundaberg, Queensland. The site includes 6.6 hectares of existing hydroponic greenhouses plus an additional 180,000m2 of agricultural land suitable for open-field cannabis or hemp cultivation. THC will now apply to the Aus...

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Big Red Group acquires social concierge Lime&Tonic

Big Red Group acquires social concierge Lime&Tonic

Naomi Simson's Big Red Group (BRG) has today added another experience marketplace to its growing suite of brands. Lime&Tonic, an events and experiences retailer, joins RedBalloon, Adrenaline and IfOnly under the Big Red umbrella. The acquisition follows the launch of BRG's IfOnly in June this year and the acquisition of Ad...

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Construction underway for Kaufland's first Adelaide store

Construction underway for Kaufland's first Adelaide store

European hypermarket giant Kaufland has today started construction on its first store in South Australia, within a week of announcing two more store confirmations in Victoria. The group owned by one of Germany's richest men Dieter Schwarz is in the midst of a massive roll-out in Australia, its first outside Europe.  Like...

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Karen Millen Australia falls into administration

Karen Millen Australia falls into administration

The Australian arm of the iconic UK fashion house Karen Millen has fallen into administration. It comes just as its UK parent company went into administration in Britain, spelling the end for the Australian business at the time, and sold to online retailer Boohoo. Deloitte has been appointed as the administrators of the UK company'...

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ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

Two major Australian banking institutions have been sued by the Australian Securities and Investment Commission for allegations of the use of unfair contract terms. Bendigo and Adelaide Bank and BOQ have been taken to the Federal Court by the watchdog who alleges that the banks used contract terms with small businesses that were unfair. ...

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Cannatrek to begin medicinal cannabis production in Queensland

Cannatrek to begin medicinal cannabis production in Queensland

Australian medicinal cannabis producer Cannatrek is adding to its large-scale growing capability after receiving a permit to begin growing the drug in Queensland. The company has received a growing permit for its Queensland facility from the Office of Drug Control (ODC). The facility has a total growing area of 3,200m2 in climate-controll...

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