GBST snubs fresh takeover bid from FNZ

GBST snubs fresh takeover bid from FNZ

Fintech GBST (ASX: GBT) has received a higher takeover bid from FNZ Custodians at a $4 million premium to a current deal in the works, but the board has questioned the New Zealand company's approach. GBST, which provides custom technology across a range of financial services, has been in the sights of a few companies since April inclu...

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Frank Costa retires from the Costa Board

Frank Costa retires from the Costa Board

After a lifetime of building Costa Group (ASX: CGC) into the company it is today Frank Costa is stepping down from his position as a non-executive director. He will continue to retain his involvement with the company as an advisor to the board, whilst the Costa family still holds a significant share of the company.  The produce b...

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AP Eagers to divest Newcastle car dealers to secure AHG merger

AP Eagers to divest Newcastle car dealers to secure AHG merger

The one bump in the road toward the proposed merger of two of Australia's largest automotive groups has been more or less flattened following this morning's announcement from AP Eagers (ASX: APE). The 106-year-old company has announced it will divest its Newcastle and Hunter Valley based car dealer Kloster Motor Group for $54 mill...

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Shark Tank sharks will shine at Gold Coast Way Ahead

Shark Tank sharks will shine at Gold Coast Way Ahead

Some of the country's most successful investors, thought leaders and innovators will steal the spotlight at Gold Coast Business Week 2019. Almost every local entrepreneur worth their salt will be involved during the week either as panellists, VIPs, guest speakers, event hosts or attendees. Not least of which is a trio of sharks wh...

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Demystifying exports with MooGoo's Craig Jones

Demystifying exports with MooGoo's Craig Jones

Over the last few years exports have been firmly on the mind of the founder of MooGoo, Craig Jones. The Gold Coast-based skincare company has taken off overseas, thanks primarily to its status as a natural remedy for skin problems like eczema and psoriasis. The company has hit major milestones over the last two years, like a bumper or...

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Removify was Nick Bell's startup itch that needed to be scratched

Removify was Nick Bell's startup itch that needed to be scratched

Removify is helping businesses remove unwanted and fake online reviews and content with a 'no win, no fee' business model. Nick Bell (pictured) could easily have been forgiven for taking a break from the business world following his $39 million sale of WME Group to Melbourne IT (ASX:MLB) in 2017. But Bell couldn't kee...

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Aveo confirms Brookfield as preferred takeover partner

Aveo confirms Brookfield as preferred takeover partner

Canadian investment group Brookfield has been named as Aveo's (ASX: AOG) preferred takeover partner. The senior living provider announced this morning it is in talks with Brookfield about a possible takeover. While the suitor has been named as Aveo's "preferred" takeover partner, the two still need to enter into defi...

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Elixinol secures exclusive German distribution deal

Elixinol secures exclusive German distribution deal

Germany's fledgling medicinal cannabis industry is ripe for the picking, and Australia's leading player in the sector is making moves to dominate. Elixinol Global (ASX: AXL), recently highlighted by Business News Australia as the top cannabis company in the country, has signed an exclusive agreement to distribute its products into...

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Medlab shares surge on strong sales results

Medlab shares surge on strong sales results

An Australian medicinal cannabis company achieved 50 per cent year-on-year revenue growth in the June quarter, backed by a roll-out of its nutraceutical range Priceline and TerryWhite Chemmart pharmacies. Medlab Clinical (ASX: MDC) recorded revenue of $3 million for the quarter, and that money didn't even come from its flagship NanaBi...

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Troubled Silver Chef settles for less

Troubled Silver Chef settles for less

Silver Chef (ASX: SIV) has come to an agreement with the consortium led by Next Capital that is seeking to take the company private. Now that Next Capital has pored over Silver Chef's books it appears as if Silver Chef is willing to settle for less. The embattled Silver Chef and the consortium led by Next Capital have deliberated ...

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Former Sirtex CEO pleads guilty to insider trading

Former Sirtex CEO pleads guilty to insider trading

The former CEO and director of biotech company Sirtex Medical, Gilman Edwin Wong (pictured), has pleaded guilty to one charge of insider trading. Wong was committed to the Sydney District Court for sentencing on a date to be fixed. The charge of insider trading relates to Wong's sale of 74,698 shares on 26 October 2016 while in po...

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New player enters bidding war for GBST

New player enters bidding war for GBST

What started as a $2.50 takeover bid from Bravura Solutions (ASX: BVS) in April has turned into a scrum as several suitors seek to get their hands on Brisbane-based fintech GBST (ASX: GBT). The company's shares went into a trading halt on Monday afternoon after SS&C Technologies Inc (Nasdaq: SSNC) lifted the stakes to $3...

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Australian Unity Office Fund receives improved takeover offer

Australian Unity Office Fund receives improved takeover offer

A consortium of two major Sydney-based property companies has put some icing on the cake in its bid for Australian Unity Office Fund (ASX: AOF), a holder of nine metropolitan and CBD office properties with a market cap of close to $487 million. On 4 June, a group associated with Abacus Property Group (ASX: ABP) and Charter Hall Group...

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How Bondi Sands embraced Australia to sell to the world

How Bondi Sands embraced Australia to sell to the world

Business success often reads like witchcraft. A dash of this, a pinch of that, and the first hair of a newborn baby is all it takes for your business to be the next big thing! For the founders of Bondi Sands, the main ingredient in their spell is Australia itself. The company, which sells tanning and suncare products, has become one o...

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CuDeco goes into receivership

CuDeco goes into receivership

Gold Coast-headquartered copper miner CuDeco (ASX: CDU) has entered receivership after a year marked by the total suspension of its Cloncurry mine, a glimmer of hope from a cobalt deal and a string of executive departures. When founder Wayne McRae was touting the potential of CuDeco's Rocklands project in Cloncurry in 2006, shares in ...

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Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell Property Group (ASX: CMW) has exchanged contracts to sell its 50 per cent stake in Sydney's Northpoint Tower to a Hong Kong-based company for $300 million. The real estate manager will offload its remaining interest in Northpoint to Early Light International, which initially acquired 50 per cent of the asset from Redefine Pro...

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Receivers called in for property group Steller

Receivers called in for property group Steller

A high-profile Melbourne property developer that once had a $4.2 billion pipeline of projects has been called into receivership, with assets likely to be divested for offshore investors to recoup funds. McGrathNicol Restructuring announced today three of its partners had been appointed as receivers for Development Steller Pty Ltd, a ...

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Founders take on new roles at Afterpay

Founders take on new roles at Afterpay

Buy-now pay-later fintech Afterpay Touch Group (ASX: APT) has announced an executive reshuffle as part of a plan to make the board more independent. Amidst scrutiny from AUSTRAC and concerns over a competitive threat from Visa in the buy-now pay-later (BNPL) space, the company is seeking an independent chair with a global search abou...

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Could medicinal cannabis curb the opioid crisis?

Could medicinal cannabis curb the opioid crisis?

One of Australia's leading cannabis companies Zelda Therapeutics (ASX: ZLD) has been given the greenlight to commence an opioid reduction trial. The trial at St Vincent's Hospital in Melbourne will see Zelda assess the effectiveness of medicinal cannabis in reducing opioid dependence in patients with chronic non-cancer pain. T...

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People Infrastructure acquires nursing recruitment firms

People Infrastructure acquires nursing recruitment firms

Less than two weeks after its initial announcement, People Infrastructure (ASX: PPE) has completed the $16.8 million buyout of nursing businesses First Choice Care and Carestaff Nursing services. The acquisitions have bolstered People Infrastructure's growing health and community care business, and the company expects they will bring ...

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Flight Centre acquires French corporate travel business

Flight Centre acquires French corporate travel business

Flight Centre (ASX: FLT) has taken full ownership of Paris-based corporate travel group 3Mundi, bringing around 170 million euros ($275 million) in annual total transaction value (TTV) under its global umbrella. In 2017 Flight Centre took a 25 per cent stake in the company, and yesterday's acquisition was based on the terms of a put-c...

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Dimmi founder launches new 'smart menu' app me&u

Dimmi founder launches new 'smart menu' app me&u

After a 12-month sabbatical following the sale of restaurant booking app Dimmi, Stevan Premutico (pictured) is back with another piece of hospitality-tech sure to make waves in the industry. Called 'me&u', the app allows restaurant-goers to order and pay for food seamlessly at the restaurant. Customers simply need to ...

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Macquarie axes gambling, ups the ante on overseas spend

Macquarie axes gambling, ups the ante on overseas spend

In a move lauded by the Alliance for Gambling Reform, Macquarie Group (ASX: MQG) has announced that from today its credit cards can no longer be used in gambling transactions. Macquarie will block all credit card transactions that are registered under a gambling and lottery merchant code. The bank says it aims to "support the financi...

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US suitor outbids Bravura in tilt at GBST

US suitor outbids Bravura in tilt at GBST

Update: This afternoon GBST announced a pause in trading pending an announcement, which was followed by a trading halt that will be in place until the announcement is made or the start of trading on 3 July.  After several months receiving takeover offers from Bravura Solutions (ASX: BVS), Brisbane-based fintech GBST (ASX: GBT) h...

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Australia's top 20 cannabis companies

Australia's top 20 cannabis companies

With a stock market that is open to international investors and a rapid domestic take-up on cannabinoid-based medicines, Australia has become an unlikely hub for the booming global cannabis industry. According to a report from unlisted company Cannvalate, which incidentally has tie-ups with several groups on this list, Australia has the f...

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Domino's rejects underpayment claims

Domino's rejects underpayment claims

Domino's Pizza (ASX: DMP) denies it misled franchisees over employee payment terms and has reiterated plans to defend a class action launched by Phi Finney McDonald. Earlier this week it was revealed the law firm had started the action alleging Domino's underpaid delivery drivers and in-store workers between June 2013 an...

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Ord Minnett management take control as IOOF and JP Morgan exit

Ord Minnett management take control as IOOF and JP Morgan exit

A consortium of private investors will acquire private wealth manager Ord Minnett from IOOF (ASX: IFL) and JP Morgan for around $164 million. The consortium, led by current Ord Minnett management, is concurrently acquiring IOOF's 70 per cent stake in the wealth management business alongside JP Morgan's 30 per cent stake, allowing ...

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Scentre sells Sydney CBD office towers for $1.52 billion

Scentre sells Sydney CBD office towers for $1.52 billion

The owner-manager of most of Australia's Westfield shopping centres has announced its second major asset sale in the space of six weeks, along with an $800 million share buy-back program. Scentre Group (ASX: SCG) announced today it has disposed its Sydney CBD office towers to certain funds managed by New York-headquartered Blackstone ...

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Gold Coast shopping centre sold for $20 million

Gold Coast shopping centre sold for $20 million

A shopping centre owned by Sunland Group (ASX: SDG) in Mermaid Waters, Gold Coast, has sold for $20 million. The Lakeview Retail Centre has been acquired by Bao Li Investments, with settlement to occur in August 2019 so long as certain legal requirements are fulfilled. The sale of the property, which is located on Bermuda Street ...

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How to profit and be responsible: Exclusive Q&A with Andrew Banks and Nicholas Bernhardt

How to profit and be responsible: Exclusive Q&A with Andrew Banks and Nicholas Bernhardt

Andrew Banks and Nicholas Bernhardt believe that when running a business, profit and corporate responsibility aren't mutually exclusive. Granted, it is becoming harder for companies to ensure their supply chains aren't buying into an ethical nightmare, particularly given the mountains of fast-inflowing data related to overseas sup...

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