What will be the legacy of the Hayne Royal Commission?

What will be the legacy of the Hayne Royal Commission?

The Hayne Royal Commission into the banking and financial services industry uncovered plenty of ugliness about Australia's leading financial institutions. The institutions themselves are still dealing with the fallout of the Royal Commission; class actions, board spills, and "restructure" plans are abound this year. What...

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Uniti Wireless to acquire FTTP network for $100 million

Uniti Wireless to acquire FTTP network for $100 million

Adelaide-based teclo Uniti Wireless (ASX: UWL) is continuing on its spending spree with the announcement of a $100 million acquisition. The group hopes to raise $100 million in order to acquire builder and wholesale operator of private fibre networks LBNCo. LBNCo is described by Uniti as "highly profitable" and is predominan...

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Lendlease profit dives 40 per cent during "difficult" trading year

Lendlease profit dives 40 per cent during "difficult" trading year

Property project developer Lendlease (ASX: LLC) has capped off a tough FY19 with a 40 per cent dive in profits, down to $467 million from $793 million. The financial year was a rough one for the developer, with class actions being thrown at it by Phi Finney McDonald and Maurice Blackburn, and an ailing engineering and services business dr...

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Rhipe harvests a bumper full year profit

Rhipe harvests a bumper full year profit

Cloud solutions company Rhipe (ASX: RHP) has posted an operating profit of $12.8 million for FY19, up 65 per cent on the previous year. This healthy harvest comes as the group has continued to grow across the business during the financial year, particularly its Asian focused business. Sales were up by 28 per cent to $252.5 million dur...

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Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Times are brutally tough for SMEs in Australia. Ever since the Royal Commission into Misconduct in the Financial Services Industry tabled its report, bank financing has all but dried up. This situation has put small business owners in a difficult spot; without access to credit, companies put expansion plans on hold. When gaps in cash ...

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JB Hi-Fi posts record sales and earnings

JB Hi-Fi posts record sales and earnings

It has been another strong year for retail giant JB Hi-Fi (ASX: JBH), posting record sales and earnings. Total sales were up 3.5 per cent to $7.1 billion and NPAT was up 7.1 per cent to $249.8 million. These continued strong results, showing growth every financial year since FY15, demonstrate the brand's strong position in the Aus...

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AMP to raise $650 million ahead of transformation strategy

AMP to raise $650 million ahead of transformation strategy

Embattled financier AMP (ASX: AMP) intends to raise $650 million to buoy a complete reinvention of the company The new AMP will be a "simpler, client-led, higher growth and higher return" business. AMP is in serious need of a facelift following a rough FY19 stacked with intense criticism of its practices that were revealed d...

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CommBank will take on Afterpay in buy-now pay-later market

CommBank will take on Afterpay in buy-now pay-later market

Australia's largest bank is moving with the times in a financial market where buy-now pay-later (BNPL) companies like Afterpay (ASX: APT) and Zip Co (ASX: Z1P) have gained traction with consumers and investors alike. In its results announcement today, Commonwealth Bank (ASX: CBA) announced it had signed an agreement with Swedish onlin...

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Suncorp investors get $506m gift from Australian Life Insurance sale

Suncorp investors get $506m gift from Australian Life Insurance sale

The loss incurred from the sale of its Australian Life Insurance business was the main reason why Suncorp's (ASX: SUN) profit plummeted in FY19, but shareholders will be rewarded for their patience with a generous payout. Within months of the resignation of CEO Michael Cameron, the Brisbane-based company posted a net profit after...

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Yowie escapes coup as Bolton and Khan clash over Keybridge

Yowie escapes coup as Bolton and Khan clash over Keybridge

Troubled investment firm Keybridge Capital (ASX: KBC) has been choc-blocked in its attempt to oust chairman Louis Carroll from confectioner Yowie (ASX: YOW), with investors seemingly taking little encouragement from the suitor's own internal conflicts.  Keybridge, backed by notorious corporate raiders Farooq Khan and Nichola...

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VGI launches another ASX entity for new Asian investment strategy

VGI launches another ASX entity for new Asian investment strategy

VGI Partners (ASX: VGI) hopes to raise $500 million for the launch of a new Asian investment strategy and subsequent ASX-listed fund. Investors will be able to access VGI's latest strategy through a new entity VGI Partners Asian Investments Limited (ASX: VG8). This latest move comes just four months after the hedge fund launched a...

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Blue Sky ditched as SA venture capital fund manager

Blue Sky ditched as SA venture capital fund manager

Embattled fund manager Blue Sky Alternative Investments (ASX: BLA) has been dropped by the South Australian government from its role of managing the state's venture fund. The independent committee in charge of the $50 million SA Venture Capital Fund (SAVCF) is in the process of appointing a new fund manager to oversee the investments ...

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Healthia on a roll with latest acquisitions

Healthia on a roll with latest acquisitions

Diversified health business Healthia (ASX: HLA) has been on a buying spree of late, with today's acquisition of a suite of hand therapy clinics its latest purchase. The group, chaired by former Greencross CEO Dr. Glen Richards, has acquired four specialty hand therapy clinics in Sydney for $3.5 million in total. Group CEO of Physi...

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Qantas' stake in Alliance hits turbulence

Qantas' stake in Alliance hits turbulence

Qantas' (ASX: QAN) acquisition of a 20 per cent interest in Alliance Airlines (ASX: AQZ) has triggered alarm bells for the competition watchdog. In a statement released this morning, the Australian Competition and Consumer Commission (ACCC) noted some red flags relating to certain transport routes only travelled by Qantas and Alliance...

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Superloop earnings return to normal after major project completion

Superloop earnings return to normal after major project completion

Major network builds will be the foundation for Superloop's (ASX: SLC) earnings recovery over the next financial year. The company announced this morning it expects FY20 underlying guidance to double year-on-year to $14-$16 million. This growth is backed by recent network builds as well as strong anticipated growth in its fibre co...

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Oaktree takes hold of Blue Sky's water assets

Oaktree takes hold of Blue Sky's water assets

The carving up of Blue Sky Alternative Investments (ASX: BLA) has begun with assets set to be filtered through to the vulture fund that came to its rescue in the darkest hour.  Yesterday the embattled company announced restructuring would commence this week with the transfer of its water and agricultural funds - known as its real ass...

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Corporate raiders come knocking at Yowie's door

Corporate raiders come knocking at Yowie's door

A pair of notorious corporate raiders behind two unsuccessful attempts to buy out confectioner Yowie (ASX: YOW) are taking matters into their own hands. Farooq Khan and Nicholas Bolton have launched an attempt to have chairman Louis Carroll and executive director Glen Watts removed from the company board. It is the latest play from th...

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Furniture e-commerce leader Temple & Webster tables first profit

Furniture e-commerce leader Temple & Webster tables first profit

Furniture retailer Temple & Webster's (ASX: TPW) online model has paid off with the company recording its first full year profit. During FY19 the company generated $101.6 million in revenue, up 41 per cent on the prior year. Most notably for investors who have stuck with the e-commerce furniture and homewares vendor since its ...

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Healthy turnaround for Oliver's Real Food

Healthy turnaround for Oliver's Real Food

Since Oliver's Real Food (ASX: OLI) founder Jason Gunn returned to helm the ship the company's fortunes have improved substantially. During the fourth quarter the health-oriented fast food business delivered a profit as well as earnings of $161,000. "This is a direct outcome of management's determination to eliminate ...

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GBST yields to FNZ takeover bid

GBST yields to FNZ takeover bid

Shares in Brisbane-based fintech GBST (ASX: GBT) have risen 6.5 per cent this morning after the board unanimously recommended a takeover bid from the holding company of FNZ Custodians. The $3.85 per share bid is actually less than an earlier acquisition offer from the New Zealand-based company, but is still 7 per cent more than an offer o...

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