TOURISM BOOM: WE AIN'T SEEN NOTHING YET

TOURISM BOOM: WE AIN'T SEEN NOTHING YET

FEARS of faltering Chinese growth and a global downturn have been downplayed by one economic forecaster who is predicting we are on the verge of a new economic boom, and one that's likely to last for some time. Dr Frank Gelber (pictured), chief economist with BIS Shrapnel, told a Brisbane briefing this week that the next growth story ...

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RETAIL MOMENTUM COULD HIT THE WALL IN 2016

RETAIL MOMENTUM COULD HIT THE WALL IN 2016

AUSTRALIAN retail had a healthy 2015, but experts say this upward trend might hit a wall in 2016. A market forecast conducted by Deloitte spells the end of retail growth nationally as the Aussie market is battered by a number of national and international economic factors. Despite an underperforming Australian economy in 2015, retail ...

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$10 MILLION FUND SEEKS AUSSIE STARTUPS WITH 'SIGNAL'

$10 MILLION FUND SEEKS AUSSIE STARTUPS WITH 'SIGNAL'

A NEW early stage $10 million Australian venture capital fund is going where few have before on our shores and seeking signal deep in the startup trenches. 

Backed by support from prominent early stage American investors, the appropriately named Signal Ventures has launched in Melbourne.

Signal Ventures is the brainchild of two...

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MELBOURNE BUSINESS CAUGHT UNDERPAYING MIGRANT WORKERS

MELBOURNE BUSINESS CAUGHT UNDERPAYING MIGRANT WORKERS

A MELBOURNE food wholesaler has been slapped with an $85,000 fine in Federal Circuit Court for underpaying migrant and overseas workers. Quality Food World underpaid 46 production and packing staff almost $150,000 from its warehouse at Mordialloc, an investigation by the Fair Work Ombudsman has found. The employees were mostly visa ho...

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ACCC ISSUES 'PLEASE EXPLAIN' TO FUEL RETAILERS

ACCC ISSUES 'PLEASE EXPLAIN' TO FUEL RETAILERS

THE consumer watchdog has put the petroleum industry on notice after revealing low global crude oil prices were not being fully reflected at the bowsers. The Australian Competition and Consumer Commission says it has written to major petrol retailers this month to explain what it says have been 'unreasonably high' retail petrol pr...

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DECEMBER RETAIL SALES PUMP, DESPITE HEATWAVE

DECEMBER RETAIL SALES PUMP, DESPITE HEATWAVE

IT MAY have been tough for Dick Smith Holdings (ASX:DSH), but the broader retail market enjoyed robust trading over December, according to the latest retail turnover figures. The Australian Bureau of Statistics has revealed that retail turnover was up 4 per cent to $24.8 billion during the peak retail month compared a year earlier. Th...

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BUSINESS LEGAL EAGLE HEADS TO NEW FIRM

BUSINESS LEGAL EAGLE HEADS TO NEW FIRM

BUSINESS legal eagle Brett Heading has moved to the new Brisbane office of global law firm Jones Day. Heading (pictured) is well respected in corporate circles, having served as chairman and partner of McCullough Robertson for more than 30 years. He has advised company boards in managing capital raisings, as well as major IPOs includi...

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UBERX DRIVING $80M IN BENEFITS A YEAR

UBERX DRIVING $80M IN BENEFITS A YEAR

RIDE-SHARING service Uber delivers more than $80 million in benefits to Australia each year, according to Deloitte Access Economics. The Economic Effects of Ridesharing in Australia report, commissioned by Uber, calculated $49.6 million in consumer surplus from the industry competitor and $31.5 million in savings for those who made the sw...

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SURFERS RESTAURANT ADMITS UNDERPAYING STAFF

SURFERS RESTAURANT ADMITS UNDERPAYING STAFF

A SURFERS Paradise restaurant has admitted to deliberately underpaying staff tens of thousands of dollars, operating on the basis that they would not be caught. Uchouten Japanese Restaurant, located on Surfers Paradise Boulevard, told the Fair Work Ombudsman the underpayments were intentional and they hoped they would not be caught. T...

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WORKER OWED $22,000 AFTER PAY RATE BUNGLE

WORKER OWED $22,000 AFTER PAY RATE BUNGLE

AN Adelaide worker who was underpaid for almost seven years will receive $22,000 in back pay, following an intervention by the Fair Work Ombudsman. The receptionist and shop assistant was paid $15 an hour at a retailer on the Fleurieu Peninsula - the same rate as when she started as an 18-year-old in 2008. The employee contacted Fair ...

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BRISBANE 7-ELEVEN OPERATOR SET TO FACE COURT

BRISBANE 7-ELEVEN OPERATOR SET TO FACE COURT

THE 7-Eleven wage war has worsened, after the Fair Work Ombudsman launched legal action against two Brisbane stores for short-changing staff more than $31,000. Jason Yuan has been accused of denying 21 employees penalty rates across his outlets located at 231 George Street and 174 Adelaide Street. The latest allegations take the total...

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CAPITAL INVESTMENT ON THE RISE AMID SALES SLOWDOWN

CAPITAL INVESTMENT ON THE RISE AMID SALES SLOWDOWN

AUSTRALIAN businesses will shift their focus to capital investment in a bid to tackle lower sales expectations in the first quarter of 2016, according to Dun & Bradstreet. The latest Business Expectations Survey forecasts strong investor sentiment with 23.1 per cent of businesses planning to increase expenditure. D&B head of g...

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FINANCE SHAKE-UP DRIVES GOGETTA EARNINGS

FINANCE SHAKE-UP DRIVES GOGETTA EARNINGS

GOGETTA Equipment Funding has cemented its place in the broking industry following a record year, driven by budding business owners seeking out flexible financing options. The commercial equipment hire company, launched by Silver Chef Limited (ASX:SIV) in 2008, recorded a 31 per cent lift in revenue to $57.4 million in FY15 compared to th...

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CARDNO $50M UP, $28M TO GO

CARDNO $50M UP, $28M TO GO

CARDNO (ASX:CDD) has raised $50 million in the first stage of its entitlement offer, as the engineering firm seeks to leverage its financial flexibility. The institutional component of its fully underwritten 1-for-2.175 offer received strong support from shareholders, with 98 per cent of entitlements taken up. The company aims to rais...

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DENTIST DRILLED FOR SHORT-CHANGING STUDENT

DENTIST DRILLED FOR SHORT-CHANGING STUDENT

A MELBOURNE dentist is in hot water for allegedly underpaying an international student studying at the clinic tens of thousands of dollars. Nobrace Dental Clinic recruited the student from South Korea on a 457 skilled worker visa based on a nominated annual salary of $50,000. Documents lodged with the Federal Circuit Court state the woman...

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BPS TECHNOLOGY TO FEED THE GORILLA

BPS TECHNOLOGY TO FEED THE GORILLA

BPS Technology (ASX:BPS), the company that owns Bartercard, sees itself as the 'gorilla in the room' in a trade exchange industry worth $20 billion globally. And the Gold Coast-based company is planning to feed that gorilla over the next year as its takes a bigger bite of a market it says is ripe with opportunities. CEO Trevor...

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STUDENTS REIMBURSED THOUSANDS IN UNPAID WORK

STUDENTS REIMBURSED THOUSANDS IN UNPAID WORK

A GROUP of high school students in Queensland have been reimbursed thousands of dollars for work they undertook as part of school-based traineeships. The year 11 and 12 students, aged between 15 and 18, completed work placement with local employers to attain a Vocational Education and Training (VET) qualification and Higher School Certifi...

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GAME-CHANGING TELCO APP DRAWS BIG INVESTORS

GAME-CHANGING TELCO APP DRAWS BIG INVESTORS

HIGH-PROFILE investors are taking a shine to a Melbourne-based technology startup which has developed an app that lets you watch ads in exchange for free phone data. Unlockd has reportedly raised $15 million in its third round of capital raising ahead of the product's debut in Australia and the US. The application allows customers...

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AUSTRALIAN BUSINESSES POISED TO CAPITALISE IN ASIA

AUSTRALIAN BUSINESSES POISED TO CAPITALISE IN ASIA

NEW figures show the majority of Australian businesses that have expanded into Asia have reported a significant lift in profit, according to ANZ. The inaugural ANZ Opportunity Asia survey shows 76 per cent of businesses say profit has increased considerably since the move, with 47 per cent reporting revenue from operations in Asia was muc...

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ACQUISITIONS BOLSTER BGA CAPITAL LISTING

ACQUISITIONS BOLSTER BGA CAPITAL LISTING

RETIREMENT outfit BGA Capital has announced plans to acquire a portfolio of up to 10 retirement villages, in preparation for an initial public offering. BGA has appointed Colliers International to assist in aggregating a portfolio of eight to 10 assets across New South Wales, Victoria, South Australia and Queensland. "We are look...

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