Oliver's Real Food shares surge on founder's return

Oliver's Real Food shares surge on founder's return

A healthy fast food chain with bloated overheads is about to rein in costs through an executive overhaul that has already led to a doubling of its share price since the announcement was made on Monday morning. That company is Oliver's Real Food (ASX: OLI), an enterprise headquartered on the Central Coast of New South Wales that listed...

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Retail Food Group denies administration rumours

Retail Food Group denies administration rumours

Embattled franchisor Retail Food Group (ASX: RFG) has denied reports in the Courier Mail citing "word on the street" speculation that administrators could be called in as soon as next week. The operator of food brands including Brumby's, Donut King, Michel's Patisserie and Gloria Jeans reported a loss of $111 million for...

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Zelda strikes up partnership to break into US medicinal cannabis market

Zelda strikes up partnership to break into US medicinal cannabis market

Zelda Therapeutics (ASX: ZLD) has entered into a partnership that could see it grab a serious slice of the US medicinal cannabis market. Zelda and Ilera Healthcare will explore a range of commercialisation opportunities to tap into the lucrative US medicinal cannabis market. Though not legal or decriminalised federally, the United Sta...

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IPH threatens QANTM-Xenith merger with counterbid

IPH threatens QANTM-Xenith merger with counterbid

Intellectual property company IPH (ASX: IPH) is upping the ante in its courtship of Xenith (ASX: XIP), putting in a higher takeover bid it claims will bring greater value than a merger in the works with QANTM Intellectual Property (ASX: QIP). Xenith knocked back IPH's $1.80 per share offer in November, opting instead for an all-scrip ...

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Liquidator appointed to wind up Shoes of Prey

Liquidator appointed to wind up Shoes of Prey

Custom to-order shoes business Shoes of Prey has appointed FTI Consulting's Kelly Trenfield and John Park to wind up the business as the company's journey comes to an end. The liquidation comes as the company announced it was considering its future and was putting orders on pause in August 2018. The liquidation of the company ...

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Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

Clayton Utz, AMP cave in to ASIC's 'fees for no service' notes demand

After months of withholding notes from interviews of current and former AMP representatives, law firm Clayton Utz has finally coughed up documents requested by the Australian Securities and Investments Commission (ASIC). The notes formed the basis for Clayton Utz's October 2017 report on on fees for no service (FFNS) that was consider...

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Aussie AI ace Appen to acquire US business for up to $428M

Aussie AI ace Appen to acquire US business for up to $428M

Update: On 12 March Appen announced its $285 million placement to help fund the acquisition was successfully completed.  Machine learning and AI company Appen (ASX: APX) expects a material increase in its revenue and customer base following a binding agreement to acquire San Francisco-based Figure Eight Technologies, Inc. The Syd...

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Australian Ag Co estimates damages, cattle loss from floods

Australian Ag Co estimates damages, cattle loss from floods

Beef producer Australian Agricultural Company (ASX: AAC) will need to repair thousands of kilometres of boundary fences now that floods have receded in North Queensland, but the positive news is it appears cattle losses were lower than expected in some areas.  As a preliminary estimate drawing from on-the-ground surveys, mi...

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Yellow Brick Road erases its goodwill as the Royal Commission makes impact

Yellow Brick Road erases its goodwill as the Royal Commission makes impact

Update: On 21 March, ASIC raised concerns about the "reasonableness and supportability" of Yellow Brick Road's revenue growth forecasts used to test lending cash-generating unit (CGU) assets in the 2018 financial year, taking into account performance, market conditions and industry risks.  Wealth management busines...

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The Star to launch new Jones Bay Wharf restaurant

The Star to launch new Jones Bay Wharf restaurant

For the first time ever, The Star is going off-property to launch its latest restaurant headed up by two superstar chefs in July this year. The Star's new signature restaurant, Chuuka, will take over an iconic location in Jones Bay Wharf, previously home to iconic Sydney restaurant Flying Fish. Headed by Chef Chase Kojima (picture...

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Kaufland announces its first Australian distribution centre in Melbourne

Kaufland announces its first Australian distribution centre in Melbourne

German supermarket giant Kaufland will open its first dedicated Australian distribution centre at the Merrifield Business Park in Melbourne's north. Kaufland will construct a 110,000 sqm purpose-built distribution centre to service their Australian stores on a 28-hectare site in Merrifield. The facility will include an extensive t...

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Mark Zuckerberg lays out a future for Facebook that promises to be private

Mark Zuckerberg lays out a future for Facebook that promises to be private

In just a few short years Facebook went from one of the most popular social media platforms, beloved by millions, to one that its users no longer trust. Though privacy issues were a problem for Facebook pre-2018 it was the Cambridge Analytica scandal that led to many vowing to ditch the social media site. Bots, political misinformatio...

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Manikay ups the ante in MYOB takeover spat

Manikay ups the ante in MYOB takeover spat

Hedge fund Manikay Partners has increased its shareholding in business management business MYOB (ASX: MYO) a day after it publicised its criticism of a potential takeover of MYOB. Manikay now holds 11 per cent of MYOB shares, up from 9.99 per cent. The increase in shareholding comes after the hedge fund sent a letter to MYOB expressin...

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Rosella partners with Kagome Australia for new traceable tomato products

Rosella partners with Kagome Australia for new traceable tomato products

The need for transparency in the food industry is becoming more important as customers are starting to demand to know where their food is grown. This development in the sector is reflected in the changes major Australian food producers are making, and Aussie favourite Rosella is leading the charge. Rosella has announced a partnership ...

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Myer claws back into the black but sales still down

Myer claws back into the black but sales still down

In a rare bit of positive news for Australian retail giant Myer (ASX: MYR) the company has reported a reasonably positive first half for FY19. Though total sales at the department store were down 2.8 per cent in 1H19, the company recorded a NPAT of $41.3 million (up 3.1 per cent from 1H18). Statutory NPAT during the half was $38.4 mil...

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Merino Country woollen undies strike the right baa-lance

Merino Country woollen undies strike the right baa-lance

For many small businesses a high-profile defence contract would be like hitting the jackpot, but for woollen apparel manufacturer Merino Country it was a stepping stone to greater things.  With 20,000 customers worldwide, the Brisbane-based company celebrated 25 years in business last year and has come a long way from its o...

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Bubs signs agreement with major Chinese baby goods company

Bubs signs agreement with major Chinese baby goods company

Bubs Australia's (ASX: BUB) Chinese dreams are about to become reality as its new partnership with a Chinese baby goods giant comes into place. The Australian infant formula producer has signed an agreement with Beingmate Baby & Child Food Co, one of the largest Chinese owned enterprises in the infant nutrition industry. Under...

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Major MYOB shareholder refuses to back takeover deal

Major MYOB shareholder refuses to back takeover deal

A major shareholder in business management company MYOB (ASX: MYO) has gone public with its refusal to back the $2.2 billion takeover proposal by a private equity firm. In a letter sent to MYOB and ASIC, and posted on the ASX today by MYOB, major shareholder Manikay Partners has expressed its disagreement with the proposed takeover of MYO...

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Medlab partners up to develop and distribute cannabis drug for cancer pain

Medlab partners up to develop and distribute cannabis drug for cancer pain

Australian cannabis company Medlab (ASX: MDC) has teamed up with Canadian pharmaceutical company Pharmascience to develop and distribute a medicinal cannabis product aimed at treating pain in cancer patients. The two companies will research and develop NanaBis, a cannabis based drug that uses Medlab's proprietary spray delivery system...

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Will new funding round propel iVvy to the big leagues of software tech?

Will new funding round propel iVvy to the big leagues of software tech?

Software as a Service (Saas) outfit iVvy is taking its cloud-based event and venue management platform to new heights with a $5 million Series A funding round to accelerate global expansion. After disrupting the meeting and events industry in Australia and expanding internationally to include 12,000 users in 13 countries, the Gold Coast-h...

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