Brazilians launch $7 billion law suit on BHP for Mariana dam collapse

Brazilians launch $7 billion law suit on BHP for Mariana dam collapse

In what could be the largest claim in UK legal history over 200,000 Brazilians have launched a class action law suit against Australian mining group BHP Billiton (ASX: BHP). The law suit claims that the mining group 'knew of the risks' surrounding the deteriorating condition of a Brazilian dam in the years before its deadly collap...

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AHG recommends AP Eagers' improved new offer

AHG recommends AP Eagers' improved new offer

The board of Automotive Holdings Group (ASX: AHG) has welcomed an improved takeover offer from AP Eagers (ASX: APE). Two weeks ago, AHG recommended shareholders take no action regarding AP Eagers' offer of one AP Eagers share for every 3.8 AHG shares held. Now, the offer has been increased to one AP Eagers share for every 3.6 AHG ...

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Carly vehicle subscription service launches in Melbourne

Carly vehicle subscription service launches in Melbourne

Following its successful launch in Sydney at the end of March as Australia's answer to Netflix for cars, Carly has launched in Melbourne. Carly is described as an alternative to buying or leasing a car, and instead has its users pay a monthly subscription fee to access a huge fleet of vehicles. From today, Melbourne's Carly su...

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MGC Pharma sends first medical cannabis solution to the UK

MGC Pharma sends first medical cannabis solution to the UK

MGC Pharma (ASX: MXC) is one step closer to making its mark on the recently legalised medicinal cannabis market in Great Britain, with the announcement today the first shipment of its CannEpil solution has landed in the UK. The milestone follows an exclusive distribution agreement reached with Grow Biotech and IPS Specials, leaders in the...

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Your Money channel to shut down

Your Money channel to shut down

News channel Your Money will cease broadcasting in 10 days' time after joint venture partners found its revenue model was more difficult than envisioned and failed to meet expectations. The decision comes after just seven months of air time for the joint venture between Nine Entertainment (ASX: NEC) and News Corp (ASX: NWS) subsi...

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Retail Food Group backflips on use-by date extensions

Retail Food Group backflips on use-by date extensions

Following an exposé by The Sydney Morning Herald the parent company behind Michel's Patisserie has backflipped on its internal decision to extend use-by dates on food products. As reported by The SMH Retail Food Group (ASX: RFG) instructed Michel's franchisees to ignore expiry dates on packaging and adopt new shelf-life dat...

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Financial impact of LandMark White cyber attack revealed

Financial impact of LandMark White cyber attack revealed

The data beach of listed property valuation group LandMark White has hurt the company's revenue by up to $7 million. The company has revealed today the full extent of the breach on the group's bottom line, plus the significant cost of making sure this type of cyber-attack does not happen again. The company says the breach, whi...

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Westpac first half profit down $1 billion

Westpac first half profit down $1 billion

Westpac (ASX: WBC) has seen its profits dive in 1H19 thanks to major remediation and restructuring items. At the end of the half the group recorded a net profit of $3.2 billion, down 24 per cent on 1H18, with earnings down 22 per cent to $3.3 billion. The group says profits were hit by provisions for estimated customer refunds, repaym...

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Bubs to launch Australia's first grass-fed infant milk formula

Bubs to launch Australia's first grass-fed infant milk formula

Infant formula producer Bubs Australia (ASX: BUB) has announced its latest product offering, and it's a national first. The company will produce Australia's first certified organic grass-fed infant formula in conjunction with Fonterra Australia. Fonterra will supply Bubs with organic milk powder, sourced from New Zealand, and ...

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QIC launches $494 million takeover of Superloop

QIC launches $494 million takeover of Superloop

Internet infrastructure company Superloop (ASX:SLC) has received a takeover offer from a Queensland private capital group for $494 million. The proposed deal would see QIC Private Capital, on behalf of its global infrastructure managed and advised funds and clients, acquire the Bevan Slattery (pictured) founded company for $1.95 per share...

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Keybridge ditches takeover of underperforming Yowie

Keybridge ditches takeover of underperforming Yowie

Keybridge (ASX:KBC) has decided to not proceed with its proposed takeover of confectionary company Yowie (ASX:YOW). The company says that after considering Yowie's quarterly cashflow report, which Keybridge described as "disappointing", it will not pursue the takeover. Yowie reported a significant operating loss, a nearl...

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Jordan Grives' Fone Dynamics scooped up by Uniti Wireless

Jordan Grives' Fone Dynamics scooped up by Uniti Wireless

Emerging telco player Uniti Wireless (ASX: UWL) has picked up Brisbane-based tech startup Fone Dynamics. Founded by serial entrepreneur and Young Entrepreneur of the Year (2016) Jordan Grives, Fone Dynamics is a specialist communications platform-as-a-service ('CPaaS') company. The group focuses on modern inbound voice and bus...

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Acquisitions give Darrell Lea owners chunk of $1B healthy snack market

Acquisitions give Darrell Lea owners chunk of $1B healthy snack market

The owners of iconic Australian confectionery company Darrell Lea are capitalising on trends towards more frequent and healthier snacking, through the acquisition of eight brands in the growing market segment. RiteBite Group, an entity recently formed by Darrell Lea's Sydney-headquartered owner Quadrant Private Equity, last month purc...

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Art Series to open its ninth hotel in Perth

Art Series to open its ninth hotel in Perth

The new hotel will be the first time the brand has had a presence in WA. Art Series' foray into WA comes in the form of a $90 million hotel developed by George Atzemis at 900 Hay Street, Perth. The 27 storey hotel is dedicated to Australia's contemporary artists, with the fundamental design concept of the 250-room hotel drawin...

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Tritium launches electric vehicle R&D centre in Brisbane

Tritium launches electric vehicle R&D centre in Brisbane

There's no denying it. Car manufacturers around the world are gearing up for an electric vehicles (EV) future, and without an automotive industry of our own, Australia will need to take heed sooner or later.  Queensland based Tritium knows this for a fact, and the company is growing at a remarkable rate< so fast that it's ...

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Melbourne tech startup A Cloud Guru raises $46M

Melbourne tech startup A Cloud Guru raises $46M

A fast-growing enterprise technology company specialising in online cloud computer training has completed one of the biggest funding rounds in Australia to date in 2019, with backing from domestic and US investors. A Cloud Guru (ACG) has successfully closed a growth equity investment of USD$33 million (AUD$46.8 million), led by US-ba...

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Antony Catalano acquires Nine's regional media and printing business

Antony Catalano acquires Nine's regional media and printing business

Antony Catalano, the former CEO of Domain, has acquired Nine's (ASX: NEC) Australian Community Media ('ACM') and printing business for $115 million. The cash proceeds of the sale are expected to be around $115 million, subject to post completion adjustments of which $10 million will be paid in 12 months. Nine expects to use th...

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Slater & Gordon files class action against Vocus

Slater & Gordon files class action against Vocus

Disgruntled shareholders in Vocus Group (ASX: VOC) are taking legal action against the Australian telecommunications company over its FY17 earnings falling well short of guidance by around $64 million. Vocus today announced it had been served with a class action proceeding filed by Slater & Gordon (ASX: SGH) i...

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Former Megaport exec to lead Cloudscene

Former Megaport exec to lead Cloudscene

A telecommunications industry marketplace and cloud directory founded by Bevan Slattery in 2016 has gone on to become the largest of its kind globally, and is about to embark on a new phase of growth. Cloudscene, a comprehensive directory of data centres and cloud service providers, was created by the entrepreneur responsible for such suc...

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Record results for Freelancer as global expansion continues

Record results for Freelancer as global expansion continues

The world's largest freelancing and crowdsourcing marketplace Freelancer (ASX: FLN) achieved a record gross payment volume of $204.3 million in the first quarter, representing year-on-year growth of 25.6 per cent. In an announcement today, the company highlighted cash receipts also hit a record of $14 million after rising 15.8 per cen...

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