NSW watchdog to probe Packer's sale of Crown shares

NSW watchdog to probe Packer's sale of Crown shares

On 31 May, James Packer's CPH Crown Holdings sold $1.76 billion worth of shares in Crown Resorts (ASX: CWN) to Hong Kong-based casino operator Melco Resorts, a company headed by Packer's former business partner Lawrence Ho. Lawrence Ho is the son of Macau's most influential casino magnate Stanley Ho, who held a government-gran...

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MGC Pharma to construct large scale cannabis production facility in Malta

MGC Pharma to construct large scale cannabis production facility in Malta

MGC Pharmaceuticals (ASX: MXC) is establishing a key gateway into the potentially lucrative European cannabis market with the construction of a new production facility in Malta. The Australian company has signed a long-term lease agreement on the 6,000sqm site in Malta with Malta Industrial Parks. The company says this major event is ...

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ACCC alleges HealthEngine manipulated reviews, misused patient data

ACCC alleges HealthEngine manipulated reviews, misused patient data

Online health booking platform HealthEngine has responded to allegations levelled by the consumer watchdog that it manipulated reviews and misused patient data. The Australian Competition and Consumer Commission (ACCC) commenced proceedings against HealthEngine, making allegations that the company engaged in misleading and deceptive condu...

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Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Bonitas Research has criticised Rural Funds Group's (ASX: RFF) "we will not disclose" response to requests for its commercial lease agreements, with the US short seller standing by its allegations the agricultural land fund fabricated rental income. The company's shares plunged 43 per cent on Tuesday after Bonitas accuse...

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Nick Scali shares rise despite flat same-store sales

Nick Scali shares rise despite flat same-store sales

Investors were encouraged by the performance of Nick Scali (ASX: NCK) today as shares in the furniture retailer pushed 8 per cent higher, with managing director Anthony Scali describing the record result as "satisfactory". The group notched its seventh straight year of record profit, up 2.8 per cent year-on-year at $42.1 million...

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Rural Funds founder: "I will be buying shares"

Rural Funds founder: "I will be buying shares"

The board of beseiged farmland owner Rural Funds (ASX: RFF) has adopted a strategy to deliberately "lack detailed explanation" in its immediate response to financial irregularity allegations from US short seller Bonitas Research.  In early trading RFF shares were up almost 33 per cent at $1.80, but still well shy of the $2....

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Tritium electrified on $30 million raise

Tritium electrified on $30 million raise

Brisbane-based electric vehicle (EV) charger developer Tritium is positioned to raise $30 million to support its fast-growing customer base. The raise will allow for increased production to meet its ever-growing collection of customers. The company has already exported over 3,000 DC fast, high-powered chargers to more than 30 countries an...

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AMP to raise $650 million ahead of transformation strategy

AMP to raise $650 million ahead of transformation strategy

Embattled financier AMP (ASX: AMP) intends to raise $650 million to buoy a complete reinvention of the company The new AMP will be a "simpler, client-led, higher growth and higher return" business. AMP is in serious need of a facelift following a rough FY19 stacked with intense criticism of its practices that were revealed d...

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Record profit takes Alliance to new heights

Record profit takes Alliance to new heights

Alliance Aviation Services (ASX: AQZ) felt the wind beneath its wings this past financial year. The charter flight company favoured by Aussie fly-in fly-out (FIFO) workers reported a FY19 record profit of $32.8 million, an impressive 25.7 per cent lift on FY18. More than 38,000 flying hours across a fleet of 38 aircraft also supported...

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Rural Funds hits back at short seller Bonitas

Rural Funds hits back at short seller Bonitas

Australia's most experienced agricultural fund manager has entirely rejected claims made by a Texas-based short seller whose report into the company sent its shares into freefall yesterday. Bonitas Research, an entity set up by Glaucus Research founder Matthew Wiechert who was responsible for similar attacks that prompted the dow...

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Charter Hall acquires Chifley Tower

Charter Hall acquires Chifley Tower

Two Charter Hall (ASX: CHC) managed wholesale funds have partnered with Singapore sovereign wealth fund GIC to acquire the iconic Chifley Tower. Charter Hall will assume the asset and property management of 2 Chifley Square, Sydney, increasing the group's funds under management (FUM) by approximately $1.8 billion to over $33 billion. ...

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Suncorp investors get $506m gift from Australian Life Insurance sale

Suncorp investors get $506m gift from Australian Life Insurance sale

The loss incurred from the sale of its Australian Life Insurance business was the main reason why Suncorp's (ASX: SUN) profit plummeted in FY19, but shareholders will be rewarded for their patience with a generous payout. Within months of the resignation of CEO Michael Cameron, the Brisbane-based company posted a net profit after...

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Medicinal cannabis industry welcomes extended government support

Medicinal cannabis industry welcomes extended government support

The Federal Government has promised to support major medicinal cannabis projects to the delight of the sector. Under the plan, medicinal cannabis projects that have been granted major project status (MPS) will be given priority to receive medicinal cannabis licences through the Office of Drug Control (ODC). MPS is granted by the depar...

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Creso pushes further into blooming NZ medicinal cannabis market

Creso pushes further into blooming NZ medicinal cannabis market

Medicinal cannabis manufacturer and developer Creso Pharma (ASX: CPH) has signed a key deal with New Zealand's Medleaf Therapeutics. The deal will see Australia-listed Creso push deeper into the bourgeoning medicinal cannabis market across the ditch. Creso's movements come at a pivotal time in New Zealand, with the country gea...

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VGI launches another ASX entity for new Asian investment strategy

VGI launches another ASX entity for new Asian investment strategy

VGI Partners (ASX: VGI) hopes to raise $500 million for the launch of a new Asian investment strategy and subsequent ASX-listed fund. Investors will be able to access VGI's latest strategy through a new entity VGI Partners Asian Investments Limited (ASX: VG8). This latest move comes just four months after the hedge fund launched a...

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Flight Centre takes full ownership of Canadian corporate travel and leisure business

Flight Centre takes full ownership of Canadian corporate travel and leisure business

Just over a month after taking over Paris-based corporate travel group 3Mundi, Flight Centre (ASX: FLT) is boosting its exposure to another French-speaking market.  The Brisbane-headquartered company now has 100 per cent ownership of North American premium leisure and corporate travel business Les Voyages Laurier du Vallon ...

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Wesfarmers' acquisition of Catch Group gets green light from ACCC

Wesfarmers' acquisition of Catch Group gets green light from ACCC

The national competition regulator sees no problem with Wesfarmers' (ASX: WES) proposed $230 million acquisition of online retailer Catch Group and will not oppose the deal. The Australian Competition and Consumer Commission (ACCC) determined a link-up of Wesfarmers' Kmart and Target stores with the e-commerce player would no...

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Rhipe acquires encryption and cyber security company

Rhipe acquires encryption and cyber security company

Australian cloud computing solutions business Rhipe (ASX: RHP) has acquired Network2Share for $2 million. Of interest to rhipe was Network2Share's user-friendly encryption product called SmartEncrypt which rhipe plans to bundle with Microsoft Office365, Microsoft Azure, and other vendor software licences. "The acquisition wil...

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Blue Sky ditched as SA venture capital fund manager

Blue Sky ditched as SA venture capital fund manager

Embattled fund manager Blue Sky Alternative Investments (ASX: BLA) has been dropped by the South Australian government from its role of managing the state's venture fund. The independent committee in charge of the $50 million SA Venture Capital Fund (SAVCF) is in the process of appointing a new fund manager to oversee the investments ...

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Redcape acquires Pig 'N' Whistle Redbank Plains

Redcape acquires Pig 'N' Whistle Redbank Plains

The Redcape Hotel Group (ASX: RDC) is best known for its chain of 32 local pubs, taverns and hotels that stretch the length of Queensland and New South Wales. It's watering hole portfolio has now grown following the acquisition of the Pig 'N' Whistle Redbank Plains. Today the Group announced that it has exchanged contracts...

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