Global travel demands lead to A2 Milk boss resignation

Global travel demands lead to A2 Milk boss resignation

The CEO of the a2 Milk Company (ASX: A2M) has resigned as the company continues to grow and succeed overseas. Managing director and CEO Jayne Hrdlicka has agreed to step down from her role and will be replaced on an interim basis by former CEO Geoffrey Babidge. Over the last 18 months Hrdlicka has driven the company's internationa...

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LandMark White rebrands as Acumentis

LandMark White rebrands as Acumentis

Following a disastrous 2019 during which LandMark White (ASX: LMW) was hit with not one but two data breaches, the property valuer has decided to rebrand. Say goodbye to LandMark White and welcome to the stage: Acumentis. The group says the new name has been derived from two Latin words; acumen (meaning a keen insight and sharpness in...

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Coles to pay Norco dairy farmers $5.25 million after allegedly misleading consumers

Coles to pay Norco dairy farmers $5.25 million after allegedly misleading consumers

Norco Co-operative Limited (Norco) dairy farmers will receive $5.25 million from Coles (ASX: COL) after the supermarket giant failed to pass on a 10c per litre price rise. The payment to Norco follows an investigation by the Australian Competition and Consumer Commission (ACCC) into whether Coles fully passed on to Norco a 10c per litre p...

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Carlton United Breweries pours itself a tall glass of Balter

Carlton United Breweries pours itself a tall glass of Balter

Carlton United Breweries (CUB) has nabbed itself another craft brewery with the acquisition of Gold Coast-based Balter. The acquisition for an undisclosed sum will see Balter join the CUB family alongside fellow formerly 'indie' beer labels like Goose Island, Wild Yak, Pirate Life and 4 Pines. CUB is estimated to have almost a...

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Afterpay reports record sales, bringing in $1 billion during November

Afterpay reports record sales, bringing in $1 billion during November

Buy-now pay-later (BNPL) provider Afterpay (ASX: APT) has finally hit the $1 billion mark, signifying the platform's strongest month of sales since its inception. The $1 billion of monthly underlying sales was buoyed by the Black Friday and Cyber Monday sales, which Afterpay says were record trading days for the company. The recor...

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Megaport to raise $62m for network expansion

Megaport to raise $62m for network expansion

Fast-rising cloud technology company Megaport (ASX: MP1) has announced a $62 million capital raise to boost its funding arsenal for accelerating expansion into new markets. The Brisbane-based company, which provides interconnection services between cloud networks, will also use the funds for capacity upgrades, working capital requirements...

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Caason Group partners with Hemp Farms Australia to build local hemp supply chain

Caason Group partners with Hemp Farms Australia to build local hemp supply chain

The emerging hemp sector in Australia is becoming big business, but without an adequate local supply chain the industry risks becoming too reliant on international imports. A new partnership between an agricultural investment group and Australia's major hemp cultivars is looking to change that status quo. Hemp Farms Australia (HFA...

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Adairs lifts guidance after $76m e-commerce acquisition

Adairs lifts guidance after $76m e-commerce acquisition

Shares in furniture retailer Adairs (ASX: ADH) surged 13 per cent to $2 each in early trading this morning after the company lifted profit guidance and announced plans to acquire online home and living products seller Mocka. Adairs has entered a binding agreement to buy Mocka for a notional initial enterprise value of around $NZ...

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Google co-founders Larry Page and Sergey Brin step down from Alphabet leadership

Google co-founders Larry Page and Sergey Brin step down from Alphabet leadership

The founders of the world's fourth-largest listed company are calling it a day for their executive roles at Alphabet Inc (NASDAQ: GOOGL), but they will still stay on as shareholders and board members. One of the most significant executive departures of the decade was announced this morning with Google co-founders Larry Page (CEO)...

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Uniti Group acquires 1300 Australia for $78m

Uniti Group acquires 1300 Australia for $78m

Adelaide-based telco Uniti Group (ASX: UWL) (fka 'Uniti Wireless') is poised to acquire Australia's leading 'phonewords' provider for $78 million following a substantial capital raise. Uniti will acquire 100 per cent of 1300 Australia and its related entities for $78 million, funded by an $85 million entitlement raise....

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Heavyweight investors back $8m raise for restaurant ordering app me&u

Heavyweight investors back $8m raise for restaurant ordering app me&u

Australian mobile ordering and payments app for the hospitality industry me&u has announced an $8 million Series B funding round backed by some major investors. Merivale's Justin Hemmes (pictured right) and Tyro Payments have invested in the startup that removes the friction of waiting in lines to pay or order at restaurants,...

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Stormy seas for Benjamin Hornigold

Stormy seas for Benjamin Hornigold

Brisbane-based investment firm Benjamin Hornigold has released its preliminary final report for FY19, and things are not looking bright. The firm, named after an infamous pirate, saw its revenues decrease by 374 per cent into the negatives, from $638,518 in FY18 to a loss of $1.75 million in FY19. Its losses also decreased substantial...

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Optus hit with $6.4 million fine for misleading customers

Optus hit with $6.4 million fine for misleading customers

A marketing email has cost telco Optus $6.4 million in penalties after the Federal Court determined it to be misleading. Following proceedings brought by the Australian Competition and Consumer Commission (ACCC), the Federal Court found that Optus made misleading claims about home internet disconnections to consumers. The case revolve...

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Class action launched against Woolworths

Class action launched against Woolworths

Last month Woolworths Group (ASX: WOW) announced it had underpaid staff by about $300 million, but Adero Law alleges the figure is more like $620 million. A staff underpayment scandal that prompted reprimands from the Fair Work Ombudsman and led to executive pay cuts has just turned up a notch for Australia's largest retaile...

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Young Entrepreneur stars align to revolutionise aged care with AI

Young Entrepreneur stars align to revolutionise aged care with AI

When we work together magic can happen; and that's certainly the case with the launch of a breakthrough AI device that promises to revolutionise our aged care services. Three of Queensland's brightest young entrepreneurs have teamed up to create a patented artificial intelligence device that uses sensors to monitor the interaction...

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Bardot falls into voluntary administration

Bardot falls into voluntary administration

Another beloved Australian retailer has fallen into voluntary administration. This time it is women's fashion retailer Bardot, whose collapse was quietly announced by administrators KPMG last night. In a short statement, KPMG says they the business continues to trade as usual while turnaround and recapitalisation opportunities are...

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Rural Funds investors unsuccessful in bid to thwart sale of poultry business

Rural Funds investors unsuccessful in bid to thwart sale of poultry business

One of the major investors in a Rural Funds Group (ASX:RFF) poultry business have come out swinging against the parent this morning, adding to the significant pressure being faced by RFF. Kaizen Capital owns 19.51 per cent of RF Poultry Limited (RFP), an NSX listed fund that manages RFF's chicken growing activities. The major shar...

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Bellamy's settles historical class actions

Bellamy's settles historical class actions

Infant formula producer Bellamy's (ASX: BAL) has settled two class actions dating back to early 2017. The total settlement amount for both proceedings comes to $49.7 million, which the company says will have no impact on its financial results at any time. Both class actions relate to historical market disclosures that occurred in ...

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Mining and construction giants NRW Holdings and BGC Contracting to merge

Mining and construction giants NRW Holdings and BGC Contracting to merge

Western Australian mining and construction giant NRW Holdings (ASX: NW) is poised to acquire the late Len Buckeridge's BGC Contracting for $116.4 million. As part of the transaction, NRW will take on $193.6 million of debt, thus implying an enterprise value closer to $310 million for the total transaction. NRW will undertake a ful...

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DBRS Morningstar downgrade Westpac in light of transaction scandal

DBRS Morningstar downgrade Westpac in light of transaction scandal

The ripple effect of money laundering allegations at Westpac (ASX: WBC) continues to be felt with the bank's long-term ratings trend now called into question. Global credit ratings business DBRS Morningstar has downgraded Westpac's long-term ratings trend from stable to negative, citing "serious shortcomings in oper...

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