21 Harris Scarfe stores to close nationwide

21 Harris Scarfe stores to close nationwide

In the lead up to Christmas Australia suffered yet another retail casualty with legacy department store Harris Scarfe announcing that it had fallen into receivership. Today the receivers have revealed the body count of the store's fumble, with 21 stores located around the country to close over the next four weeks. The receivers, D...

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Australian businesses impacted by bushfires

Australian businesses impacted by bushfires

Australia's deadly bushfires have ravaged the country over the Christmas and New Years holiday period in an unprecedented way. At least 19 people have died, and at least 1400 homes have been destroyed in fires along the east coast and in South Australia. So bad have these bushfires been that the Federal Government has mobilised th...

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Blackbook.ai and IRIQ Law build AI legal advisor

Blackbook.ai and IRIQ Law build AI legal advisor

Like seeing the dentist, booking an appointment with a doctor, or finding time to get your computer fixed, hiring a lawyer is often pushed into the Too Hard Basket. Complicated legalese, the looming bills, and the simple fact of time often intimidate many into simply moving on with life despite there being a good chance that a lawyer coul...

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CannPal shares skyrocket on exclusive CSIRO commercialisation agreement

CannPal shares skyrocket on exclusive CSIRO commercialisation agreement

Commercialisation is on the cards for pet pharmaceuticals company CannPal (ASX: CP1) after the company signed a deal with the Commonwealth Scientific and Industrial Research Organisation (CSIRO). The agreement has seen the CSIRO grant CannPal the exclusive global rights to commercialise the patented MicroMAX microencapsulation technology ...

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Volkswagen slammed with record $125 million penalty

Volkswagen slammed with record $125 million penalty

German car manufacturer Volkswagen has been ordered to pay $125 million in penalties by the Australian Federal Court after breaching consumer law by making false or misleading representations. Volkswagen's $125 million fine is the largest total penalty order ever made by the Federal Court for contraventions of Consumer Law. The pe...

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Lendlease to divest underperforming engineering business for $180 million

Lendlease to divest underperforming engineering business for $180 million

Through FY19 property project developer Lendlease's (ASX: LLC) engineering business has been causing some significant headaches for the company. The segment was one of the main reasons the company posted a 40 per cent dive in profits, down to $467 million from $793 million. It is also currently privy to a class action brought by P...

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Village Roadshow receives $1 billion takeover offer

Village Roadshow receives $1 billion takeover offer

Village Roadshow has received a takeover offer worth almost $1 billion from Pacific Equity Partners (PEP), the investor behind a diverse array of companies including UP Education and Patties Foods. PEP has confirmed it is willing to offer a full cash consideration or a combination of cash and scrip for the Movie World parent. The boar...

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Dexus secures $2.1 billion redevelopment of Brisbane's Eagle Street pier

Dexus secures $2.1 billion redevelopment of Brisbane's Eagle Street pier

Two sparkly new office towers, a variety of restaurants and shops, a green open space, and enhanced riverbank facilities are on the cards for a $2.1 billion Brisbane waterfront master plan. Announced this morning by the Queensland Government the development will be helmed by property group Dexus who will transform the city's Eagle Str...

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Mirvac and John Holland selected to deliver Waterloo metro station development

Mirvac and John Holland selected to deliver Waterloo metro station development

A consortium comprised of Mirvac (ASX: MGR) and John Holland have been selected to deliver Sydney Metro's station development at Waterloo. The anticipated end value of the development is $800 million and should be completed over the next five to six years. John Holland will deliver the Waterloo metro station component of the devel...

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Seven West-Prime Media merger blocked by shareholders

Seven West-Prime Media merger blocked by shareholders

UPDATE: Seven West Media has acquired a 14.9 per cent stake in Prime Media Group following its failed takeover of the company. CEO James Warburton says the stake was acquired to "provide stability for the business" and to "support regional Australia and regional news". The proposed merger of Seven West Media (ASX: SWM)...

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ACCC raises concerns over Bauer Media's acquisition of Pacific Magazines

ACCC raises concerns over Bauer Media's acquisition of Pacific Magazines

The proposed merger of two of the biggest magazine publishers in Australia has raised some red flags for the consumer watchdog. In October, Pacific Magazines (ASX: SWM) announced it was to be bought by Germany-based magazine publisher Bauer Media for $40 million. The acquisition still needs to overcome the hurdle of approval from the ...

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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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