Woolworths Group ups employee repayments to $315m

Woolworths Group ups employee repayments to $315m

Woolworths Group (ASX: WOW) has increased the amount of money owed to more than 5,700 employees from $300 million to $315 million. The revelation was announced this morning by WOW after the group concluded an in-house investigation that was expanded to include all Group businesses covered by the General Retail and Industry Award (GIRA). ...

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Virgin Australia reduces flight network as losses flow

Virgin Australia reduces flight network as losses flow

Virgin Australia (ASX: VAH) has made the decision to slash its overall network capacity in the second half as losses take their toll on the group's bottom line. The three per cent reduction to its flight network is primarily in response to the impact coronavirus Covid-19 has had on the travel sector, with loss-making routes the first ...

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Bubs shrugs off coronavirus impact

Bubs shrugs off coronavirus impact

While Australia's tourism and retail markets are suffering from the impact of coronavirus Covid-19 a leading exporter of infant milk formula is thriving. Goat milk formula producer Bubs (ASX: BUB) says business has hardly been impacted as a result of Covid-19, with distribution problems being the main issue faced by the company at thi...

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Michael Hill shines online

Michael Hill shines online

A boost in e-commerce sales has contributed to some polished results for jewellery retailer Michael Hill (ASX: MHJ) in 1H20. Defying general Australian retail trends, the omnichannel player posted a 19.6 per cent increase to its NPAT, reaching $21.4 million during the half. The group succeeded online as e-commerce sales grew by a gene...

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Treasury Wine Estates profits to fall on Chinese standstill

Treasury Wine Estates profits to fall on Chinese standstill

The Asian market was a shining light for Treasury Wine Estates (ASX: TWE) until recently, but the Covid-19 outbreak has led the company to cut its earnings forecast downward for the second time in 30 days. In late January the group slashed its profit forecast for FY20 by 15 percentage points, driven by challenges in the US where a leaders...

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Jeanswest sold to former parent

Jeanswest sold to former parent

A buyer has been found for fashion retailer Jeanswest to save the chain from total collapse. Harbour Guidance, the Australian subsidiary of Hong Kong-based company Harbour Guide, will acquire Jeanswest for an undisclosed sum. Harbour Guide is owned by Mr Chun Fan Yeung who is a minority shareholder Jeanswest's previous parent Hows...

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BAF shows signs of recovery post-Blue Sky uncoupling

BAF shows signs of recovery post-Blue Sky uncoupling

Distance makes the heart grow fonder, or so the saying goes. But for Blue Sky Alternatives Access Fund (ASX: BAF) its breakup with parent Blue Sky Alternative Investments (ASX: BLA) has been the right move. The investment vehicle has demonstrated it is capable of revival in its 1H20 results posted today. BAF posted revenue growth of 2...

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Coworking upgrade pays off for Servcorp with profit up 47 per cent

Coworking upgrade pays off for Servcorp with profit up 47 per cent

While coworking giant WeWork recorded US$1.3 billion worth of losses in the September quarter alone, a smaller Australia-based competitor has been plugging along with revenue and profit on the rise. In its first half results announcement today, global serviced offices provider Servcorp (ASX: SRV) announced a significant investment in mode...

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Shine launches class action against IOOF

Shine launches class action against IOOF

Financial services provider IOOF (ASX: IFL) is facing its second class action over alleged corporate misconduct, this time from law firm Shine. Shine Lawyers alleges shareholders suffered losses as a result of non-disclosure by IOOF as well as potentially misleading and deceptive conduct affecting purchasers of IOOF shares. The allega...

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SEEK braces for $110m sales cut in China

SEEK braces for $110m sales cut in China

With offices and factories closed across parts of China to try and keep the virus Covid-19 at bay, companies are more occupied implementing annual leave plans than recruitment. It is a situation that leaves Melbourne-based SEEK (ASX: SEK) very exposed, as before the outbreak it was expecting half its revenue to come from Chinese job site ...

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Dreamworld tragedy was simply a matter of time

Dreamworld tragedy was simply a matter of time

After four years of questions, inquests and grief, the families of the four people who tragically died at Dreamworld in October 2016 can receive some solace from a report handed down by the Coroners Court of Queensland today. In his findings Coroner James McDougall determined the 2016 Thunder River Rapids Ride (TRRR) disaster, which cause...

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Helloworld waves goodbye to growth as coronavirus takes hold

Helloworld waves goodbye to growth as coronavirus takes hold

Coronavirus Covid-19's latest tourism industry victim is ASX-listed Helloworld (ASX: HLO), with the company announcing it expects minimal if any growth in the second half. The travel distribution group says its retail leisure, wholesale leisure and corporate business will be impacted by the virus which has forced airlines to bin fligh...

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Steenackers mulls life after National Veterinary Care takeover

Steenackers mulls life after National Veterinary Care takeover

The founder and CEO of National Veterinary Care (ASX: NVL) plans to turn his attention to new health and technology ventures if shareholders vote in favour of VetPartners' $250 million takeover bid next month. After announcing a stellar result for the first half with revenue surging 30 per cent to $69 million and profits up by mo...

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AusCann switches partners in new distribution deal

AusCann switches partners in new distribution deal

Medicinal cannabis company AusCann Group (ASX: AC8) has announced an exclusive storage and distribution agreement today with national pharmaceuticals provider Clifford Hallam Healthcare (CH2). The move comes within a week of AusCann reporting the release of its low-dose cannabinoid-based hard-shell capsules, which it aims to hav...

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Meet the top players on the All Technology Index

Meet the top players on the All Technology Index

Today the S&P/ASX All Technology Index (All Tech Index) goes live, giving investors another vehicle to get in on some of Australia's (and the world's) bourgeoning tech companies. Created in partnership between the Australian Stock Exchange and S&P Dow Jones, the All Tech Index is intended to enhance the profile of listed te...

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Colette by Colette to close down 33 stores

Colette by Colette to close down 33 stores

Handbag and accessories retailer Colette by Colette Hayman will shut down almost a quarter of its stores in Australia in New Zealand as part of a restructuring plan under its voluntary administration. Deloitte Restructuring Services partners Vaughan Strawbridge, Sam Marsden and Jason Tracy have decided to close 33 stores over th...

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Melbourne innovation may prove useful tool in fight against coronavirus

Melbourne innovation may prove useful tool in fight against coronavirus

There are strict rules about releasing pharmaceuticals to market, but Firebrick Pharma has proposed allowing its nasal spray to be used by healthcare workers exposted to infected patients.  A nasal spray developed by Melbourne-based Firebrick Pharma has shown positive early signs as a possible disinfectant to help stave off the sprea...

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Gold Coast's theme parks can't catch a break

Gold Coast's theme parks can't catch a break

Australia's theme park hub has experienced a rough start to 2020 just as the sector was showing signs of recovery. The two companies that run the Gold Coast's theme parks, Ardent Leisure (ASX: ALG) and Village Roadshow (ASX: VRL), have both been impacted by a hot January, a stormy February and a virus outbreak. For Ardent Leis...

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Back from the brink: SomnoMed CEO's sobering lesson for recovery

Back from the brink: SomnoMed CEO's sobering lesson for recovery

Sleep apnoea treatment company SomnoMed (ASX: SOM) was caught napping in 2018 when an ambitious US direct-to-consumer model failed to deliver results, sending shares plunging and triggering a retreat and rethink. Known as Renew Sleep Solutions (RSS), the company's US venture was blindsided by a change to health insurance policies...

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Record sales and profit for Adairs

Record sales and profit for Adairs

Executives at bedding retailer Adairs (ASX: ADH) will get a good night's sleep this evening following the release of the company's 1H20 financial results today. Adairs continued to buck the trend of ailing Australian retail in the half, posting record sales of $178.9 million in the half, up 8.6 per cent on 1H19. A cornerstone ...

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How Johnathan Thurston shrunk his power bill by going solar, and how you can too

How Johnathan Thurston shrunk his power bill by going solar, and how you can too

What's your least favourite part of your electricity bill? As we suffer through a very hot summer, it's likely the cost. Powering those air-conditioning systems certainly isn't cheap, but as clean energy solutions become more accessible there are now plenty of ways to slash your bill. NRL legend Johnathan Thurston lear...

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Vulcan makes zero carbon transportation possible

Vulcan makes zero carbon transportation possible

A global shift in capital allocations is underway. Trillions of dollars are flowing into sustainable or green investments, as the 'environmental, social and governance' (ESG) sector shakes off its image as simply a feel-good investment class. New evidence demonstrates that profitability and environmental footprint are not mutu...

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iSignthis cosies up to NSX with goals to create 'Australian NASDAQ'

iSignthis cosies up to NSX with goals to create 'Australian NASDAQ'

Payment identity verifier iSignthis (ASX: ISX) may have an acrimonious relationship with the ASX, but its ties to another Australian bourse could not be friendlier. Now almost five months into a share trading suspension and the subsequent launch of legal proceedings against the ASX, iSignthis will offer its expertise to a much smaller riv...

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Coronavirus a $100m problem for Qantas

Coronavirus a $100m problem for Qantas

Leading Australian flight operator Qantas (ASX: QAN) has decided to temporarily reduce flights across Asia as demand wanes due to coronavirus Covid-19. The cuts come as the group announced its 1H20 results, with Qantas saying the virus outbreak will hit profits by between $100 million and $150 million in 2H20. Qantas will reduce 16 pe...

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Challenger bank Tyro Payments pulls off 30 per cent transaction growth

Challenger bank Tyro Payments pulls off 30 per cent transaction growth

"With close to 59,000 terminals now in the field, we are the fifth largest merchant acquiring bank in the market with the big four holding the top slots," says Tyro Payments CEO Robbie Cooke (pictured).  The cost of implementing the largest IPO by market capitalisation in 2019 has taken its toll on business bank Tyro Paymen...

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Little Green Pharma blazes onto the ASX

Little Green Pharma blazes onto the ASX

Australia's latest listed medicinal cannabis company has launched onto the market with a bang, scoring a major UK distribution deal the night before landing. Little Green Pharma, a Perth-based vertically integrated medicinal cannabis manufacturer, starts trading today on the ASX under the ticker LGP. Its launch on the ASX follows ...

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Gold Coast gets go-ahead for The Spit master plan

Gold Coast gets go-ahead for The Spit master plan

A redevelopment plan for an iconic part of the Gold Coast's north was given a boost yesterday after the Implementation of The Spit Master Plan Bill 2019 was passed in Queensland Parliament. The project involves opening up commercial sites in the area near Sea World, as well as creating an ocean park to rival London's Hyd...

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CTM takes drastic measures in the face of coronavirus

CTM takes drastic measures in the face of coronavirus

For Corporate Travel Management (ASX: CTD) the free flow of movement between countries is an essential component of its business. So naturally, with access to China cut off and flight paths cancelled as coronavirus Covid-19 continues to wreak havoc on the global economy, CTM is currently in a sticky situation. As a result of the virus...

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Domino's online sales hit $1.1 billion in six months

Domino's online sales hit $1.1 billion in six months

Online sales continue to outstrip network revenue growth at Domino's Enterprises (ASX: DMP), with digital taking more than two-thirds of the total pie in the first half of FY20. In its results today, the Brisbane-based pizza company reported an 18.8 per cent rise in online sales to $1.11 billion, representing 70 per cent of the $1.58 ...

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Chinese manufacturing slowdown to impact Lovisa sales

Chinese manufacturing slowdown to impact Lovisa sales

While Lovisa has been hindered by supply chain troubles and in-market softening in some Asian markets, the retailer has found glistening opportunities in the US where sales have risen almost 10-fold to become more than one eighth of total revenue.  Australian jewellery retailer Lovisa (ASX: LOV) expects sales to slow over the coming ...

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