Melco bails out of Crown Resorts deal

Melco bails out of Crown Resorts deal

Hong Kong-based Melco Resorts & Entertainment (Melco) has pulled out of an $880 million deal with Crown Resorts (ASX: CWN). The deal to acquire a bundle of shares in the Australian casino giant was canned as a result of the coronavirus according to Melco, which now intends to focus on its core operations. The acquisition of shares...

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Virgin Australia cancels services to Hong Kong

Virgin Australia cancels services to Hong Kong

Virgin Australia (ASX: VAH) will withdraw its services between Australia and Hong Kong, citing ongoing civil unrest in the region and the coronavirus outbreak. The cancellation of all services follows the airline's decision to suspend its Melbourne to Hong Kong service in November 2019, which is effective from 11 February. Its Syd...

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Third time lucky as Booktopia completes $20m capital raising

Third time lucky as Booktopia completes $20m capital raising

Following a failed IPO four years ago and a recent $10 million crowdfunding attempt that fell well short, online book retailer Booktopia has finally secured the capital needed to fund future growth.  The Australian-owned company has today announced it completed a $20 million capital raising from a consortium of private investors. ...

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Nick Scali beats guidance in tough retail environment

Nick Scali beats guidance in tough retail environment

Furniture retailer Nick Scali (ASX: NCK) can't put its feet up just yet despite pushing through a hostile retail environment in 1H20. The company saw both its sales revenue and NPAT soften during the half, impacted by weak consumer confidence during what was supposed to be its busiest time of the year. Nick Scali's NPAT was do...

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Computershare to acquire US registered agent business for $142.9m

Computershare to acquire US registered agent business for $142.9m

Share transfer company Computershare (ASX: CPU) has entered into an agreement to acquire US compliance services business Corporate Creations Enterprises (CCE) for $142.9 million. The acquisition will enable Computershare to expand its US footprint as CCE is one of the leading registered agent providers in the US with over 14,000 clients i...

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Qantas to suspend two major China routes

Qantas to suspend two major China routes

Australia's leading airline Qantas (ASX: QAN) has stopped short of blaming the coronavirus (2019-nCoV) for its decision to suspend two direct services to mainland China. The company has cited rostering challenges as behind the decision to suspend flights connecting Sydney to Beijing and Shanghai from 9 February to 29 March 2...

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Temple & Webster boosted by Millennials entering furniture market

Temple & Webster boosted by Millennials entering furniture market

Online furniture and homewares retailer Temple & Webster (ASX: TPW) has followed up its first full year profit result in FY19 with a healthy half yearly result. The company is seeing its pure play model pay off as the Millennial market begins to enter its target demographic, with that gamble paying dividends during 1H20. The group...

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Medicinal cannabis facilities receive major project status

Medicinal cannabis facilities receive major project status

Three medicinal cannabis cultivation and production facilities in Victoria and South Australia have received major project status from the Federal Government today. The projects, run by medicinal cannabis companies LeafCann, Cannatrek and PhytoGro are expected to create thousands of jobs in the two states and boost the country's medic...

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Elixinol sells Hemp Foods Australia to Chinese buyer

Elixinol sells Hemp Foods Australia to Chinese buyer

Hemp Foods Australia was the reason Colorado-based Elixinol LLC listed on the ASX in the first place in January 2018, with the pair joining forces to create a global brand. One of Australia's largest cannabis and hemp companies will rack up more than $17 million in impairment charges after a decision to exit two major subsidiaries. ...

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Nothing bitter about Vittoria's global success

Nothing bitter about Vittoria's global success

If you grew up in Australia, you'll likely have fond memories of Vittoria. Personally, I remember looking longingly at the beige and brown Vittoria umbrellas as a child knowing, instinctively, that Vittoria was a very fancy, very adult brand. No kids allowed. The brand has an amazing reputation, and for good reason too; it's o...

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Nuchev trumps expectations in first report since listing

Nuchev trumps expectations in first report since listing

Goat milk infant formula player Nuchev (ASX: NUC) has beaten prospectus predictions in its first quarterly report to the ASX this morning. Both sales volumes (measured in metric tonnes) and revenue came out comfortably on top of prospectus estimates released prior to the group's $48.7 million IPO. During the first half the company...

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Kangaroo Island Plantation Timbers confirms 90% of trees "no longer productive"

Kangaroo Island Plantation Timbers confirms 90% of trees "no longer productive"

Kangaroo Island Plantation Timbers (ASX: KPT) has confirmed that 90 per cent of its trees on the island are "no longer productive" following the raging bushfires on KI that decimated most of the western half of the island in January. KPT says because the fire was so intense it burnt all the way up to the canopy of the forest. ...

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Webjet strikes back at "inaccurate" Morgan Stanley report

Webjet strikes back at "inaccurate" Morgan Stanley report

Australia's major travel companies were slogged on the ASX yesterday as shareholders panicked about the threat of the coronavirus to the tourism sector. At first glance it appeared as if Webjet (ASX: WEB) was the hardest hit in yesterday's landslide sell-off of tourism stocks, but the company was suffering from a bout of another u...

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Defence contractor to acquire US satellite communications business for $10 million

Defence contractor to acquire US satellite communications business for $10 million

Canberra-based defence contractor Electro Optic Systems Holdings (ASX: EOS) will acquire US satellite communications systems business Audacy Corporation for $10 million. The acquisition will allow the company to build a network of satellites capable of end-to-end communications and data transfer services to government and commercial custo...

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Healthia makes US footprint with 3D-printed orthotics

Healthia makes US footprint with 3D-printed orthotics

Diversified health business Healthia (ASX: HLA) is exporting its proven iOrthotics business model to the US with the launch of a 3D-printed orthotics manufacturing lab in New York City. The Brisbane-based company backed by Shark Tank shark Glen Richards has secured a five-year lease for a facility in Astoria, Queens, where an HP Fusi...

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Macquarie staff and CEO in German short selling probe

Macquarie staff and CEO in German short selling probe

Up to 60 current and former Macquarie staff including CEO Shemara Wikramanayake (pictured) have been confirmed as suspects in a German investigation into historical short-selling activities. As reported by the ABC, the investigation revolves around a legal loophole called "cum-ex trades" where two parties claim ownership of the ...

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Lights to stay on in Adelaide as new electricity interconnector approved

Lights to stay on in Adelaide as new electricity interconnector approved

The Australian Energy Regulator (AER) has approved an electricity interconnector linking South Australia to New South Wales on paper, describing the concept as "robust" and in the best interest of South Australian consumers. While the company behind the proposed project, Adelaide-based ElectraNet, must still complete a test of t...

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What will happen once Kaufland is gone for good?

What will happen once Kaufland is gone for good?

Kaufland was meant to be the heroic European supermarket to land in Australia and give its competitors a bit of a shake up. Instead, like a German high school exchange student, the 'hypermarket' announced its departure before we even got to know it properly. The company announced its departure from the Australian market on Wed...

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Village Roadshow receives fresh takeover offer from BGH Capital

Village Roadshow receives fresh takeover offer from BGH Capital

The heat has been turned up a notch at Village Roadshow (ASX: VRL) with the entertainment company receiving a second takeover proposal in as many months. Private equity firm BGH Capital (BGH) has offered to acquire all of the shares in VRL for $4 cash per share. The bid is slightly higher than another takeover offer VRL received at th...

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Jeanswest to close 37 stores as sale campaign begins

Jeanswest to close 37 stores as sale campaign begins

The latest Australian retailer to fall into voluntary administration, Jeanswest, will close 37 stores as a campaign to sell the business commences. The total of 37 stores represents one quarter of the group's 146 total stores, with 263 employees to be made redundant as part of the retailer's restructure. 21 of the 263 redundan...

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