Myer to reopen eight more stores

Myer to reopen eight more stores

Department store Myer (ASX: MYR) will soon more than double the amount of reopened stores across Australia with bricks-and-mortar operations set to begin in WA and SA, along with further openings in NSW. After bringing seven outlets on-stream in QLD and NSW in time for Mother's Day, Myer will trial the opening of the following eight s...

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Targeted cyber attack leads to data theft at Toll

Targeted cyber attack leads to data theft at Toll

Following a spate of cyber attacks with victims ranging from Australia's health sector to WA Premier Mark McGowan, it has been confirmed one of Australia's leading logistics and transport companies was recently in the sights of a ransomware extorsion. After suspicious activity on its IT systems, early last week Melbourne...

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Rex mulls $200m raise to establish interstate flight paths

Rex mulls $200m raise to establish interstate flight paths

Regional flight operator Rex (ASX: REX) is considering raising $200 million in order to establish domestic Australian operations. The new flight paths will be run in addition to its regional services which are being underwritten by the Federal Government and some state governments. In response to an article ran by the Financ...

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Apollo slams on the brakes in the USA

Apollo slams on the brakes in the USA

The collapse of the tourism industry globally has not spared caravan and motorhome rental operator Apollo (ASX: ATL) which has made the decision to pause its business in the USA. Because of the COVID-19 pandemic Apollo has sold its fleet of vehicles in the USA and has placed its operations in the country into hibernation until the summer ...

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CommBank to sell 55 per cent of Colonial First State

CommBank to sell 55 per cent of Colonial First State

Commonwealth Bank of Australia (ASX: CBA) has struck a deal to sell off more than half its ownership of wealth management business Colonial First State (CFS) to global investment firm KKR for $1.7 billion. It has now been almost two years since the bank announced plans to demerge CFS, which has been riddled with class actions since the Ro...

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Spirit Telecom targets low-risk high volume growth sectors

Spirit Telecom targets low-risk high volume growth sectors

The following article is sponsored content in partnership with Spirit Telecom. Business News Australia does not give financial advice. Ever since its founding Spirit Telecom Limited (ASX:ST1) has been a growth by acquisition story. The company has taken advantage of opportunities where it can deliver custom designed cloud-based techno...

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THC Global acquires cannabis clinic network for $3 million

THC Global acquires cannabis clinic network for $3 million

Cannabis producer THC Global (ASX: THC) will further diversify its business with a $3 million acquisition of clinic operator Tetra Health. Post-acquisition THC will gain access to Tetra's network of medical practitioners comprising more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharm...

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Magnolia Capital sticks to The Agency despite resignation

Magnolia Capital sticks to The Agency despite resignation

When The Agency (ASX: AU1) announced a breakthrough yesterday for extending the deadline of a $12 million debt repayment, the news coincided with the high-profile departure of director Mitchell Atkins (pictured). The exit, effective last Friday, was significant given Atkins' Magnolia Capital came on board as a key shareholder in ...

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From Smiggle to Portmans, all remaining Premier stores to reopen on Friday

From Smiggle to Portmans, all remaining Premier stores to reopen on Friday

From Friday 15 May the remainder of Premier Investments' (ASX: PMV) Australian stores including Smiggle, Portmans, Just Jeans, Peter Alexander, Jay Jays, Jacqui E, and Dotti will reopen. The company had already reopened all of its Queensland and Northern Territory stores (except airports and some CBD stores) on Thursday 7 May followin...

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Little Green Pharma follows up medicinal cannabis export milestone with manufacturing licence

Little Green Pharma follows up medicinal cannabis export milestone with manufacturing licence

Within a month of achieving an Australian first for medicinal cannabis oil exports to patients in the UK, Little Green Pharma (ASX: LGP) has now been given the green light to manufacture its own extracts in-house from the next crop. The approval is set to cut manufacturing costs and improve efficiencies for the Perth-based company which l...

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Vodafone-TPG merger passes final regulatory hurdle with FIRB approval

Vodafone-TPG merger passes final regulatory hurdle with FIRB approval

Two of the largest internet and mobile phone services providers in the country are now one step closer to merging, following approval from the Foreign Investment Review Board (FIRB). In February the Federal Court approved the fusion of TPG Telecom (ASX: TPM) and Vodafone Hutchison Australia (VHA), dismissing concerns from the co...

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AusCann CEO resigns after 12 months on the job

AusCann CEO resigns after 12 months on the job

The head of one of Australia's leading medicinal cannabis companies AusCann Group Holdings (ASX: AC8) has announced his resignation today, citing personal reasons for the exit. Ido Kanyon joined the Perth-based company a year ago after previously working with Teva Pharmaceuticals in the United States, and has helped AusCann achie...

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Myer to reopen some stores in QLD, NSW in time for Mother's Day

Myer to reopen some stores in QLD, NSW in time for Mother's Day

Department store Myer (ASX: MYR) has announced seven stores in Queensland and New South Wales will reopen in time for Mother's Day this Sunday. In line with an easing of stay-at-home measures in Queensland, stores in Chermside, Carindale, North Lakes, Townsville and Toowoomba will be reopened as a trial from tomorrow. This wi...

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Uptick in store reopenings at Vicinity Centres

Uptick in store reopenings at Vicinity Centres

One of the country's leading shopping centre owner-operators has seen more than 500 stores reopen nationwide over the past week as visitor numbers improve. Vicinity Centres (ASX: VCX) CEO Grant Kelley says the retail environment remains unstable and management expects challenging conditions to persist for at least the next 12 mon...

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National Storage to go window shopping after $330m equity raise

National Storage to go window shopping after $330m equity raise

While many ASX-listed companies are raising capital to hunker down during the COVID-19 pandemic, National Storage REIT (ASX: NSR) is bulking up its cash reserves to make acquisitions as they arise. The storage giant has announced a $300 million institutional placement and a non-underwritten security purchase plan (SPP) to raise a further ...

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Afterpay spikes as market reacts to Tencent investment

Afterpay spikes as market reacts to Tencent investment

Shares in buy-now pay-later group Afterpay (ASX: APT) have spiked this morning on the news that Chinese tech giant Tencent has become a substantial shareholder in the company. APT opened this morning at $38 per share as shareholders reacted to an announcement released on Friday evening that the company which owns WeChat acquired five per ...

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Adairs finds comfort online during shutdown period

Adairs finds comfort online during shutdown period

Ahead of reopening a number of large-format stores this coming Thursday Adairs (ASX: ADH) has revealed online retail was the key to surviving April. The bedding and interiors retailer closed its stores in Australia and New Zealand on March 27 in response to the threat of COVID-19 to the health and safety of its staff and customers. Si...

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Flight Centre sales drop by 95 per cent in April

Flight Centre sales drop by 95 per cent in April

Sales at travel agency group Flight Centre (ASX: FLT) dropped to just five to 10 per cent of normal levels during April due to COVID-19 travel restrictions. The small amount of sales the company is processing are coming from China according to managing director Graham Turner. "There has been some ongoing activity in most countrie...

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Westpac defers dividend as earnings dive 70 per cent

Westpac defers dividend as earnings dive 70 per cent

Westpac (ASX: WBC) is the latest Australian bank to defer its dividend due to COVID-19 uncertainty as its cash earnings and profit tumble. At the end of 1H20 the bank has reported impairment charges of $2.2 billion, up $1.9 billion because of COVID-19 impacts. Statutory net profit for the half is down 62 per cent to $1.2 billion, and ...

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Bauer Media completes Pacific Magazines acquisition

Bauer Media completes Pacific Magazines acquisition

Bauer Media has finalised its $40 million purchase of magazine publisher Pacific Magazines from Seven West Media (ASX: SWM) today. The confirmation of the sale brings to a close a six-month process during which the transaction attracted the attention of the Australian Competition and Consumer Commission for anti-competitive potential. ...

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