Phi Finney McDonald launches class action against Westpac

Phi Finney McDonald launches class action against Westpac

Westpac's (ASX: WBC) alleged 23 million contraventions of the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Act) continue to give the bank a pounding migraine. AUSTRAC's investigation into Westpac has fuelled the ire of shareholders, and Phi Finney McDonald will represent them in a class action against the big ...

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NAB could face multi-billion dollar fine over alleged fees for no service conduct

NAB could face multi-billion dollar fine over alleged fees for no service conduct

The Australian Securities and Investment Commission (ASIC) isn't going easy on National Australia Bank (ASX: NAB) this holiday season. The watchdog announced yesterday that it has taken the big four bank to court over alleged fees for no service (FFNS) conduct, uncovered initially during the Royal Commission into the banking and finan...

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Ralan creditors vote in favour of O'Dwyer's mystery Gold Coast development

Ralan creditors vote in favour of O'Dwyer's mystery Gold Coast development

William O'Dwyer, the sole director of collapsed property developer Ralan Group appears to have mostly got his way at a creditor meeting this afternoon. This afternoon's gathering of irate creditors was O'Dwyer's (pictured right) last opportunity to help claw back cash for unsecured creditors, who were otherwise unlike...

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AP Eagers admits to underpaying staff by $4.5 million

AP Eagers admits to underpaying staff by $4.5 million

Automotive retailer AP Eagers (ASX: APE) has apologised to staff after discovering 6,200 employees were underpaid by $4.5 million. The shortfall in payments to staff equates to just under 0.25 per cent of a total $2.1 billion payments made to employees over the same period of time. The company says it identified the 'anomalies'...

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Could this Australian-designed flying car be the future of urban transport?

Could this Australian-designed flying car be the future of urban transport?

If you grew up watching the Jetsons you're probably quite disappointed we are still not zooming around the skies just to get to the supermarket. The promise of flying cars is one of those undeniable markers of a utopian future; one without car lanes and traffic jams. A new Australian project appears to be one step closer to making...

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ECS Botanics poised for 2020 with new cultivation licence

ECS Botanics poised for 2020 with new cultivation licence

Medicinal cannabis company ECS Botanics (ASX: ECS) has been granted a cultivation licence from the Federal Government for its operations in Tasmania. The licence authorises ECS to cultivate cannabis plants for medicinal purposes, produce cannabis and cannabis resin for medicinal purposes, obtain plants and distribute the drug. The gra...

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National Veterinary Care shares surge 50% on $250m sale

National Veterinary Care shares surge 50% on $250m sale

Gold Coast-based National Veterinary Care (ASX: NVL) has entered into an agreement with VetPartners under which it will be acquired for around $250 million, a significant premium to its previous market capitalisation of $158 million. Under the scheme implementation deed, announced this morning by NVL, VetPartners will acquire 100 per cent...

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Oscar Wylee accused of misleading customers about donating glasses to charity

Oscar Wylee accused of misleading customers about donating glasses to charity

Youth-leaning eyewear company Oscar Wylee has been taken to the Federal Court by the Australian Competition and Consumer Commission (ACCC) for allegedly misleading customers. The allegations revolve around a campaign run by Oscar Wylee during which the eyewear company said it would donate a pair of glasses to someone in need every time a ...

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Federal Government to crack down on tech giants

Federal Government to crack down on tech giants

A $27 million investment into the ACCC and a brand new code of conduct are part of the Federal Government's raft of reforms intended to crack down on unregulated American tech giants. The reforms come in response to the Australian Competition and Consumer Commission's (ACCC) Digital Platforms Inquiry, which slammed tech heavyweigh...

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Asahi and Carlton & United Breweries merger raises red flags for watchdog

Asahi and Carlton & United Breweries merger raises red flags for watchdog

Asahi's proposed acquisition of Belgium-owned, Melbourne-based Carlton & United Breweries (CUB) is under the Australian Competition and Consumer Commission's (ACCC) microscope. The watchdog says it has preliminary concerns about the proposed merger, with the preliminary view that the acquisition would reduce competition in the...

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Aerial mapper Nearmap acquires US roof geometry tech for $5m

Aerial mapper Nearmap acquires US roof geometry tech for $5m

Australian aerial mapping company Nearmap (ASX: NEA) is upping the ante on its location intelligence offering with the purchase of technology and IP from US-based Pushpin for US$3.5 million (AUD$5 million). The move comes as the technology company seeks to cement its position following record portfolio growth in FY19 to reach $9...

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Medlab breaks new ground in the UK

Medlab breaks new ground in the UK

Listed medicinal cannabis player Medlab Clinical (ASX: MDC) has signed an exclusive distribution agreement with Cultech to break into the UK market. Cultech, a premium manufacturer in the nutritional supplement industry, will distribute two of Medlab's flaghship products in the country. One of those two products is Medlab's Na...

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170-year-old retailer Harris Scarfe falls into receivership

170-year-old retailer Harris Scarfe falls into receivership

Neither a longstanding legacy nor a nation-leading customer satisfaction rating amongst department stores were enough to save the chain from its fate.  An iconic South Australia-headquartered retailer with annual sales of $380 million has today been placed in receivership, joining a long list of bricks-and-mortar chains to bite the d...

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Cybersecurity warriors bag $70m from US investors

Cybersecurity warriors bag $70m from US investors

Major US investors have poured $70 million into Sydney-based cybersecurity company Secure Code Warrior as part of a Series B funding round. The raise was led by US juggernauts Goldman Sachs, ForgePoint Capital, and Cisco, with additional capital injected by existing investors Sydney-based AirTree Ventures and US-based Paladin Capital Grou...

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Terragen finds ground on ASX with biological ag solutions

Terragen finds ground on ASX with biological ag solutions

From fortified foods to increased demand for organic products, consumers are increasingly concerned about gut health and the impacts of pesticides on the soil where crops are grown. The organic movement has even been positive for conventional farmers who have incorporated organic and biological techniques into their growing methods, ...

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Nitro Software blasts onto the ASX

Nitro Software blasts onto the ASX

Document management software developer Nitro has landed on the ASX today following a $110 million IPO. The company, which owns PDF productivity and eSignature tool Nitro Productivity Suite, will list under the ticker NTO. At the IPO listing price Nitro Software (ASX: NTO) has a market capitalisation of $324.9 million and an enterprise...

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MoneyMe launch virtual credit account ahead of listing

MoneyMe launch virtual credit account ahead of listing

Fintech MoneyMe will list on the ASX tomorrow, but that hasn't stopped the company from making one last announcement as a private company. The group has launched a product called Freestyle, a virtual credit account, which MoneyMe hopes will replace the need for a physical credit card. Freestyle allows users to use their smartphone...

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Cann Global snags exclusive rights for Olivia Newton John's cannabis formulations

Cann Global snags exclusive rights for Olivia Newton John's cannabis formulations

Olivia Newton John's (pictured) very public struggle with breast cancer gathered a lot of attention from the global media, especially because of her unconventional approach to overcoming the illness. Newton John famously took a holistic approach to her stage 4 metastatic breast cancer, using cannabis in conjunction with her convention...

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Investors thirsty for ASX debutante Nuchev's goat milk infant formula

Investors thirsty for ASX debutante Nuchev's goat milk infant formula

Founded by Synlait co-founder Ben Dingle (pictured), Nuchev (ASX: NUC) currently sells its product into Australia, China and Hong Kong. Another infant formula player has launched on the ASX today, with Nuchev (ASX: NUC) joining the likes of A2 Milk (ASX: A2M), Bellamy's (ASX: BAL), Wattle Health (ASX: WHA) and Bubs Australia (ASX: BUB...

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Beacon Lighting powers down energy solutions business

Beacon Lighting powers down energy solutions business

Beacon Lighting (ASX: BLX) has announced the winding up of its energy solutions business and the sale of its Brisbane distribution centre, marking a major strategic shift for the company. The closure related to the company failing to maintain a sustainable energy solutions company, according to Melbourne-based Beacon whose primary busines...

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