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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Afterpay founders vow to stand by the company amid AUSTRAC audit

Afterpay founders vow to stand by the company amid AUSTRAC audit

The founders of buy-now pay-later fintech Afterpay Touch Group (ASX: APT) have voiced their commitment to the business, vowing to hold onto their shares. Nick Molnar (pictured right) and Anthony Eisen (left), co-founders of the company, recently cashed out of the company to the tune of $103.5 million, just three trading days after the fin...

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Cromwell bulks up for a $1 billion spending spree

Cromwell bulks up for a $1 billion spending spree

Cromwell Property Group (ASX: CMW) has announced a master plan to pursue more than $1 billion worth of acquisitions across Australia and Europe in the near future. The property and development giant says it has identified several acquisition opportunities across Australian and Europe as a part of its 'Invest to Manage' strategy. ...

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Hacker given three-year jail term for insider trading

Hacker given three-year jail term for insider trading

A Melbourne man has been sentenced to three years imprisonment after hacking a financial publisher's system and engaging in insider trading. IT consultant Steven Oakes today pleaded guilty to 11 charges of insider trading, unauthorised access to data with the intention to commit a serious offence, and the alteration of electronic devi...

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ASIC takes Former Murray Goulburn execs to court

ASIC takes Former Murray Goulburn execs to court

The corporate watchdog has taken former executives of dairy group Murray Goulburn (ASX: MGC) to the Federal Court over alleged breaches of the Corporations Act. Former managing director Gary Helou and former CFO Bradley Hingle will face the Federal Court over their alleged involvement in Murray Goulburn's failure to disclose to the AS...

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The plot thickens in Zip Co and Firstmac's trademark dispute

The plot thickens in Zip Co and Firstmac's trademark dispute

It is fast becoming a case of 'he said, she said' as the trademark infringement allegations levelled at Zip Co develop. When the proceedings were lodged yesterday by Firstmac Zip Co came out swinging, saying that Firstmac is only now choosing to launch proceedings against it, despite Zip Co using the phrase in question, 'ZIP...

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Collins Foods reports strong growth boosted by KFC

Collins Foods reports strong growth boosted by KFC

The Australian operator of KFC, Taco Bell and Sizzler has reported a strong financial year, seeing growth across the board. Announcing its FY19 results today, ahead of most listed companies as its financial year finished on 28 April 2019, Collins Foods (ASX: CKF) saw its revenue lift by 17 per cent to $901.2 million. The group reporte...

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Phi Finney McDonald launches class action against Domino's alleging staff were underpaid

Phi Finney McDonald launches class action against Domino's alleging staff were underpaid

A class action law suit has been launched by Phi Finney McDonald, alleging Domino's Pizza (ASX: DMP) underpaid delivery drivers and in-store workers. The law firm is looking for expressions of interest in its class action against the Australian pizza giant on behalf of employees employed between 24 June 2013 and 24 January 2018. P...

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New IOOF CEO named in sweeping board overhaul

New IOOF CEO named in sweeping board overhaul

Over six months after severe criticism from the Australian business regulator IOOF has appointed a new CEO. Renato Mota (pictured) has been appointed as CEO and managing director of the business as part of sweeping reform across the company's board. The changes to the board also involve the appointment of Andrew Bloore as an indep...

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AP Eagers and AHG merger raises red flag for watchdog

AP Eagers and AHG merger raises red flag for watchdog

The possibility for localised anti-competitive impacts following the proposed merger of two of Australia's largest car dealers has raised a red flag for the Australian Competition and Consumer Commission ('ACCC'). AP Eagers (ASX: APE) and Automotive Holdings Group (ASX: AHG) are currently in the final stages of a proposed merg...

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Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn (ASX: MGC) has settled one of its class actions, known as the Endeavour River class action, for $42 million. Slater and Gordon launched the suit on 16 August 2018, acting on behalf of aggrieved Murray Goulburn shareholders who the firm argued suffered losses at the hands of misleading and deceptive conduct. The key all...

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Kogan powers up with new energy service brand

Kogan powers up with new energy service brand

Kogan.com (ASX: KGN) has a reputation for delivering basically every service under the sun. Insurance, Internet, loans, and travel are just some of the more recent additions to the growing portfolio of brands under the Kogan umbrella. The group's latest endeavour sees the company offering power and gas services to Australians unde...

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Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers (ASX: AFL) is going full throttle as a listed law firm, notching its first acquisition since listing on the ASX in early June. The company has acquired Nita Stratton Funk & Associates Solicitors, marking its foray into the Queensland legal market. AFL will pay $300,000 in cash for the Queensland firm, whi...

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