Virgin Australia enters trading halt over restructuring talks

Virgin Australia enters trading halt over restructuring talks

After announcing the suspension of all domestic passenger flights except a daily Sydney-Melbourne service, Virgin Australia (ASX: VAH) has requested an immediate trading halt today as it explores options to stay aloft. As most air travel grounds to a standstill due to coronavirus-related restrictions, the airline's last reported avail...

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Challenger bank Judo poised to guide SMEs through Covid-19 crisis

Challenger bank Judo poised to guide SMEs through Covid-19 crisis

A well-timed investment from the Federal Government is good news for small and medium-sized businesses (SMEs). Judo Bank, an Australian challenger bank dedicated to supporting SMEs, announced last week that it will be receiving a $500 million investment from the Australian Office of Financial Management (AOFM). The funds will be used ...

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G8 Education to raise $301 million

G8 Education to raise $301 million

A $301 million equity raise will prepare childcare giant G8 Education (ASX: GEM) for the months ahead. As the nation comes to terms with the prolonged impact Covid-19 will have on the economy, G8 Education, which runs 475 childcare centres in Australia and 17 in Singapore, is making sure it has plenty of cash on hand. The raise will s...

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Mesoblast secures US stem cell treatment trial for Covid-19

Mesoblast secures US stem cell treatment trial for Covid-19

Australian regenerative medicine company Mesoblast (ASX: MSB) is moving quickly on plans to repurpose its stem cell treatment to help fight Covid-19, securing a multi-center Phase
2/3 trial in the US. Within days of gaining Investigational New Drug (IND) clearance from the US Food and Drug Administration (FDA) for its product remest...

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Alterra to develop 300ha WA avocado project

Alterra to develop 300ha WA avocado project

Shares in Perth-based agri-investor Alterra (ASX:1AG) rose by almost 17 per cent today after announcing plans to develop what could become one of the largest avocado farms in the country. Alterra came out of a trading suspension yesterday after releasing news it had secured a 30-year lease to develop and operate a 300-hectare avocado...

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Zip Co sales rise despite Covid-19 challenges

Zip Co sales rise despite Covid-19 challenges

With thousands of retail stores closed and job losses putting pressure on consumer spending, shares in buy-now-pay-later (BNPL) companies have been battered over the past six months. But Zip Co (ASX: Z1P) has escaped the March quarter relatively unscathed as far as performance is concerned, against a backdrop of sustained demand despite u...

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BOQ defers dividend, well capitalised for Covid-19

BOQ defers dividend, well capitalised for Covid-19

Bank of Queensland (ASX: BOQ) says it is well capitalised to manage the Covid-19 crisis as it defers its decision on paying an interim dividend for 1H20. The bank's decision comes as the group reports its 1H20 financial results which revealed decreased earnings and NPAT figures. In light of the Australian Prudential Regulation Aut...

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Bod Australia revenue surges 144 per cent

Bod Australia revenue surges 144 per cent

New prescriptions are driving growth for medicinal cannabis company Bod Australia (ASX: BDA) while a recent launch for hemp products with Swisse Wellness has been well received. The Sydney-based group saw its revenue jump by 144 per cent to reach $3.4 million in the nine months to 31 March, of which around $1.3 million came from the last ...

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SCA Property to raise $300m for buying assets on the cheap

SCA Property to raise $300m for buying assets on the cheap

While several ASX-listed companies are raising money to stay afloat or build resilience against uncertainty, Shopping Centres Australasia Property Group (ASX: SCP) is issuing new equity so it can snap up supermarket-anchored small shopping centres. Last month SCP CEO Anthony Anthony Mellowes told Business News Australia the company...

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Tabcorp stands down 700 staff as sport hiatus bites into betting

Tabcorp stands down 700 staff as sport hiatus bites into betting

Australia's largest gambling company Tabcorp (ASX: TAH) has taken a battering from the cancellation of major sporting events and the shutdown of licensed venues and TAB agencies where so many of its clients like to take a punt. New and obscure sport betting options like the Belarusian Premier League and Tajikstan men's basketball ...

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CSL forms global alliance for Covid-19 plasma treatment

CSL forms global alliance for Covid-19 plasma treatment

Australia's largest listed company CSL (ASX: CSL) has teamed up with Japan's Takeda Pharmaceutical Company and several international companies to develop a potential hyperimmune therapy for Covid-19. The alliance formed by CSL Behring and Takeda to work on plasma-derived therapy for the virus now also includes Biote...

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Reece to raise $600m despite strong sales

Reece to raise $600m despite strong sales

Bathroom supplies distributor Reece (ASX: REH) is launching a pre-emptive $600 million capital raising even though trading has been strong and shares are down 27 per cent since late February. The equity raising will include $170 million committed by major shareholder group the Wilson family, and will be offered at $7.60 per share. ...

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SEEK billings fall 60 per cent

SEEK billings fall 60 per cent

Online job postings provider SEEK (ASX: SEK) saw its billings in Australia, New Zealand and Asia (except China) fall 60 per cent in the last week of March, as government responses to Covid-19 impact revenue across all its businesses and markets. A $110 million sales cut to SEEK's Chinese business Zhaopin announced in February was...

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Southern Cross Austereo to raise $169 million at massive discount

Southern Cross Austereo to raise $169 million at massive discount

A heavily discounted $169 million equity raise is the cornerstone of Southern Cross Austereo's (ASX: SXL) Covid-19 game plan. In order to reduce debt and enhance liquidity the group is inviting investors to take advantage of the raise and grab shares at a whopping 45.5 per cent discount to the last traded price of $0.165 per share on ...

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Flight Centre to travel on with $700 million capital raising

Flight Centre to travel on with $700 million capital raising

Travel agency Flight Centre (ASX: FLT) is set for a significant dilution of ownership as it looks to raise $700 million in extra capital. With total transaction value (TTV) sitting at 20-30 per cent of normal levels in March and further declines expected for the coming weeks due to travel restrictions, the Brisbane-based company is prepar...

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Remote working trend bolsters demand for Superloop

Remote working trend bolsters demand for Superloop

Cloud services connector Superloop (ASX: SLC) has experienced a "significant" increase in traffic across its network in recent weeks as companies take up video conferencing and remote working to ride out the Covid-19 pandemic. In a letter to shareholders today, chairman and founder Bevan Slattery (pictured) said this rise was pa...

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eBay adds BNPL capability with Afterpay partnership

eBay adds BNPL capability with Afterpay partnership

From today shoppers can take advantage of Afterpay's buy-now pay-later (BNPL) platform on online auction site eBay. The partnership between the two tech companies is a first for eBay and will allow its 40,000 Australian SME partners access to Afterpay. The agreement is a milestone for Afterpay too, representing the Melbourne-based...

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Court awards damages to Rural Funds over Bonitas short sell report

Court awards damages to Rural Funds over Bonitas short sell report

The Supreme Court of NSW has declared a short selling report from US-based Bonitas Research against Rural Funds Group (ASX: RFF) was in breach of the Corporations Act and the ASIC Act. The court ordered damages of $530,201 payable by Bonitas and its principal Matthew Weichert, as well as costs of $368,974. Weichert has ...

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NEXTDC to raise $672m as data centre demand rises

NEXTDC to raise $672m as data centre demand rises

As demand for cloud-based solutions continues to grow, data centre operator NEXTDC (ASX: NXT) has announced a $672 million capital raising to bulk up its balance sheet and develop a new tower in Sydney. Unlike most ASX-listed companies, Brisbane-based NEXTDC has been trading at record highs lately and management appears to be making the m...

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Westpac appoints Peter King as CEO

Westpac appoints Peter King as CEO

Long-term Westpac (ASX: WBC) executive Peter King (pictured) has been appointed CEO today for a period of two years. King, who was appointed as acting CEO of Westpac in December 2019, has 25 years of experience at the bank. Westpac chairman John McFarlane says King's appointment will provide the necessary management stability and ...

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