The Agency sells off WA rent roll to pay down debt

The Agency sells off WA rent roll to pay down debt

Despite encouraging results in FY20 with its first full-year EBITDA profit since listing, real estate group The Agency (ASX: AU1) faces the cold reality of a $12 million loan that is due to Macquarie Bank by the end of this month. A deal announced today is set to pay off 30 per cent of that sum following the $3.6 million sale of The Agency...

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More than a mini Hollywood: indie Gold Coast film productions on the rise

More than a mini Hollywood: indie Gold Coast film productions on the rise

As the home of Village Roadshow's (ASX: VRL) Australian operations, the Gold Coast has garnered itself a reputation as being the country's home of blockbuster Hollywood productions. But new research has found local production of independent content is on the rise, transforming the city into Australia's very own film and televisio...

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Travello, Flight Centre join forces on tourism experiences

Travello, Flight Centre join forces on tourism experiences

After booking an $875 million loss due to COVID-19, Flight Centre (ASX: FLT) is spreading its wings through a new partnership with Travello, a community-driven app for the booking and sharing of tourism experiences. Travello co-founder and CEO Ryan Hanly (pictured) says the Flight Centre deal is one of a string of new partnerships ...

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Zelira to launch new hemp-derived toothpaste in the US

Zelira to launch new hemp-derived toothpaste in the US

Listed cannabis company Zelira Therapeutics (ASX: ZLD) has today formed a new Oral Care products subsidiary, tasked with selling a hemp-derived cannabinoid-based toothpaste. The company plans on launching the toothpaste product in the USA by Q4 2020 in partnership with developer Sprinjene, a manufacturer of vegan, Kosher and Halal oral care ...

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ASX takes Smiles Inclusive to task as loan date looms

ASX takes Smiles Inclusive to task as loan date looms

After National Australia Bank (ASX: NAB) cast aside the prospect of recouping 36 per cent of its $19 million loan to dental group Smiles Inclusive (ASX: SIL), the loss-making company has conceded it probably won't be paying the remainder on time. SIL has until Friday to pay back $12 million to the bank - a deadline that raised ...

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CSL to manufacture UQ and Oxford COVID-19 vaccines for Australia

CSL to manufacture UQ and Oxford COVID-19 vaccines for Australia

Biotechnology giant CSL (ASX: CSL) will manufacture more than 80 million doses of COVID-19 vaccines for supply in Australia, slated for release in 2021. The manufacture and supply agreements are contingent on the success of clinical trials at both the University of Queensland and Oxford University where the vaccines are being developed. On...

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GetSwift to call Canada home

GetSwift to call Canada home

Software group GetSwift (ASX: GSW) has announced plans to re-domicile in Canada in order to realign its business with the North American market. As part of the move, the company will list its new holding company, GetSwift Technologies Limited ("Holdco"), on the NEO Exchange in Canada, and delist from the ASX. The company says bei...

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"Bad payers won't be able to hide": New scheme to force supplier payment transparency

"Bad payers won't be able to hide": New scheme to force supplier payment transparency

The Federal Government expects new legislation passed in the Senate yesterday will "put every big business on notice" and help millions of small businesses be paid on time. Under the Payment Times Reporting Scheme, large businesses and applicable government enterprises with a total annual income of more than $100 million&...

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Watchdog files legal action against Dixon Advisory alleging conflicted advice

Watchdog files legal action against Dixon Advisory alleging conflicted advice

An advisory arm of Evans Dixon (ASX: ED1) has come under fire from Australia's corporate regulator for recommending clients invest in a related property fund that has since lost at least 87 per cent of its value. The Australian Securities and Investments Commission (ASIC) has today filed proceedings in the Federal Court against...

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Starpharma secures funding to develop COVID-19 nasal spray

Starpharma secures funding to develop COVID-19 nasal spray

Shares in Starpharma (ASX: SPL) are on the rise after the pharmaceutical company announced it has received $1 million in funding to develop its COVID-19 nasal spray. The company was selected by the Australian Government's Medical Research Future Fund (MRFF) as a recipient of the funding to expedite the development and commercialisation o...

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Fintech DataMesh signs up private retail giant Peregrine

Fintech DataMesh signs up private retail giant Peregrine

Australian financial payment systems and software solutions provider DataMesh Group has secured its first major contract, signing up Adelaide-based Peregrine Corporation to service the point-of-sale needs of its retail operations. Peregrine, one of South Australia's largest private companies, will deploy DataMesh's full suite of fina...

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THC Global shares plummet on CEO departure

THC Global shares plummet on CEO departure

One of Australia's leading listed medicinal cannabis companies THC Global (ASX: THC) has today announced the shock immediate departure if its CEO Ken Charteris (pictured), who was instrumental in acquiring a manufacturing facility in Queensland and securing major industry partnerships. Charteris was group CEO from July 2018, but before t...

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Australia's largest grain exporter banned in China

Australia's largest grain exporter banned in China

China's trade spat with Australia has escalated after the country suspended shipments from barley producer CBH, alleging they contained quarantine pests on multiple occasions. The move comes amidst a souring of relations between the two countries in which China has also increased tariffs on Australian barley, banned exports from several ...

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Legal costs weigh down Keybridge Capital

Legal costs weigh down Keybridge Capital

Investment firm Keybridge Capital's (ASX: KBC) lawyers have had a busy year with litigation costs relating to takeover attempts creating a heavy burden for the company in FY20. The company, currently embroiled in an ongoing takeover attempt from Wilson Asset Management Capital (ASX: WAM), saw its profits and revenues struggle in the...

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Nufarm forecasts $215m impairment charge, 29 per cent profit drop

Nufarm forecasts $215m impairment charge, 29 per cent profit drop

Crop protection group Nufarm (ASX: NUF) is capping off a whirlwind financial year with a $215 million hit to its asset values in Europe, where competition and high input costs have put profit margins under strain. It is a state of affairs that prompted the Melbourne-based group to curtail herbicide manufacturing at its operations Austri...

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Starpharma rises on breakthrough COVID-19 treatment news

Starpharma rises on breakthrough COVID-19 treatment news

Pharmaceuticals developer Starpharma (ASX: SPL) has been riding positive investor sentiment for just over a week now after the announcements of two major COVID-19 breakthroughs. Last week, SPL shares rose by about 40 per cent in response to the company's update about a nasal spray for protection against COVID-19, based on the company'...

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Oliver's loss deepened ahead of EG Group twist

Oliver's loss deepened ahead of EG Group twist

While Oliver's Real Food (ASX: OLI) is almost an entirely different company since linking up with EG Group at petrol stations around the country, its FY20 results show signs of a turnaround that was just a distant dream 18 months ago. The company's loss was 12 per cent greater at $17.5 million, but that was mostly due to impairments,...

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Helloworld manages crash landing after weathering the "perfect storm"

Helloworld manages crash landing after weathering the "perfect storm"

Travel booking company Helloworld (ASX: HLO) has reported a $69.9 million loss for a year it described as a "perfect storm", just like competitors such as Flight Centre, Corporate Travel Management and WebJet. During FY20 Helloworld's bottom line dropped by more than $100 million as international and even some interstate travel...

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The Agency bounces back with earnings milestone

The Agency bounces back with earnings milestone

Acquisitive real estate group The Agency (ASX: AU1) has today announced its first full-year EBITDA profit since listing at $2.66 million, backed by strong revenue growth as it looks to boost agent numbers further in the quarters ahead. Facing challenges in response to COVID-19 and the pressures of a $12 million debt it needs to pay back by 3...

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SeaLink shares set sail as earnings surge 54 per cent

SeaLink shares set sail as earnings surge 54 per cent

Shares in ferry and resort operator SeaLink Travel Group (ASX: SLK) have risen 6 per cent in early trading after the company reported a 54 per cent increase in underlying earnings to $73.7 million. The encouraging result comes despite a hit to the tourism sector and reduced movement from commuters who normally use its services, with governme...

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