THC Global ready to manufacture medicinal cannabis with receipt of final licence

THC Global ready to manufacture medicinal cannabis with receipt of final licence

Hot on the heels of a new partnership with MGC Pharma (ASX: MXC) THC Global (ASX: THC) has received a licence to manufacture therapeutic goods at its state-of-the-art facility in Southport. The licence, known as a GMP Licence, is the final piece of the puzzle required by THC Global to begin commercial manufacture of medicinal cannabis at ...

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Australian business leaders the most pessimistic over climate change

Australian business leaders the most pessimistic over climate change

While Australia has one of the world's lowest rankings on climate change policy, our business leaders have a much stronger belief than others worldwide that climate change will bring negative impacts to their industries.  A new global report from Deloitte found 81 per cent of Aussie execs believe they will be adversely affected b...

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Neobank Volt one step closer to IPO after $70m equity funding round

Neobank Volt one step closer to IPO after $70m equity funding round

'Neobank' Volt is inching closer to its planned IPO following an oversubscribed $70 million Series C equity funding round. The Series C, which was oversubscribed by $10 million beyond its original target of $60 million, lifts the bank's total funding to $100 million in equity. Volt now intends to launch a Series D equity f...

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Kogan shares dip despite record half

Kogan shares dip despite record half

E-commerce giant Kogan (ASX: KGN) recorded its highest ever gross sales and gross profit in the first half of FY20, bolstered by record trading results on Black Friday and Boxing Day. In a trading update today, the company noted gross sales were up 16 per cent for the half, while gross profit rose 9 per cent and active customer numbers we...

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Super Retail Group sales weighed down by fire and drought

Super Retail Group sales weighed down by fire and drought

Fire and drought impacts have combined with higher labour costs brought about by an enterprise agreement to weigh down on Super Retail Group's profit forecast. Bushfire smoke haze has led like-for-like (LFL) sales growth to go backwards at Super Retail Group's (ASX: SUL) outdoor-focused stores BCF and Macpac, especially for campin...

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THC Global in trading halt as it strikes deal with MGC Pharma

THC Global in trading halt as it strikes deal with MGC Pharma

Medicinal cannabis companies THC Global (ASX: THC) and Europe-based, Australian-listed MGC Pharma (ASX: MXC) have signed a new supply deal this morning. The agreement will see MGC Pharma provide THC Global with an "immediate" source of medicinal cannabis products to be packaged and made available to Australian patients under THC...

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Brisbane-based investors acquire tightly held Capalaba retail asset for $8.85 million

Brisbane-based investors acquire tightly held Capalaba retail asset for $8.85 million

A retail centre in the South East Queensland area of Capalaba has been acquired by Centurion Investment Management for $8.5 million. The centre has two tenants, Rebel Sport and Repco, and Ray White Commercial Bayside director Nathan Moore says the Redland Bay Road asset is in the heart of one of SE Queensland's most tightly held large...

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Government offers $500,000 loans to drought-hit farm businesses

Government offers $500,000 loans to drought-hit farm businesses

The Federal Government will be offering loans of up to $500,000 to help small farmers affected by drought pay for operating expenses and refinance existing debt. Minister for Drought and Rural Finance David Littleproud says the new Regional Investment Corporation (RIC) loan for farm-dependent small businesses will be availa...

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Tourism body calls for positive campaign to counter $4.5 billion booking shortfall

Tourism body calls for positive campaign to counter $4.5 billion booking shortfall

Softened bookings from international tourists due to the bushfires could have an estimated $4.5 billion impact on the industry.  The main body representing the tourism export sector has called for a positive messaging campaign highlighting that Australia is 'open for business' as international tourism wanes. The ongoing b...

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F45 Training files for US IPO

F45 Training files for US IPO

An Australian group workout class franchise that attracted an investment from Hollywood star Mark Wahlberg is now one step closer to listing in the US.  Anonymous sources close to F45 Training told Bloomberg the company had confidentially filed for an initial public offering that could take place as soon as the first half. Founde...

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Guzman y Gomez returns 'home' with launch in the US

Guzman y Gomez returns 'home' with launch in the US

Australian Tex-Mex restaurant chain Guzman y Gomez has launched its first ever restaurant in the United States. The Illinois store is the group's 135th restaurant globally, with the chain's footprint extending from Australia to Singapore, Japan, and now the US. But for the founders of Guzman y Gomez, launching in the US is som...

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Hotel SaaS SiteMinder joins unicorn club

Hotel SaaS SiteMinder joins unicorn club

The Australian tech scale-up scene is getting points on the board early this year after a recent equity raise lifted the valuation of SiteMinder to $1.1 billion. The accommodation guest acquisition software outfit processed 105 million bookings for more than 35,000 hotels in 2019. Founded in 2006 by Mike Ford (pictured) and Mike Roger...

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Makeover for Brisbane industrial site post $26m sale

Makeover for Brisbane industrial site post $26m sale

A 16.22 hectare industrial property in the Brisbane suburb of Runcorn is set to be transformed into a mixed-use precinct after being acquired for $26 million. The site, previously owned by global engineering business Bradken, is presently zoned as an industrial block but is uniquely positioned and surrounded by residential dwellings and o...

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'LinkedIn for music' Jaxsta hits play on groundbreaking deal

'LinkedIn for music' Jaxsta hits play on groundbreaking deal

The volume has been turned up a few decibels for music-tech start up Jaxsta (ASX: JXT) after signing a commercial deal with Australian music royalties association APRA AMCOS. The milestone is the first revenue-generating commercial deal for the company's Jaxtsa Pro platform - a comprehensive music credits site where industry...

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Carly moves up a gear into New Zealand

Carly moves up a gear into New Zealand

Car subscription company Carly has inked a deal with listed automotive company Turners Automotive Group (ASX: TRA) to launch the platform in New Zealand by March 2020. The deal, between Carly's parent Collaborate (ASX: CL8) and Turners, will see the New Zealand company commit to supply 200 vehicles for their own stock within six month...

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Will online boost and lab-grown diamonds mean a glistening future for Michael Hill?

Will online boost and lab-grown diamonds mean a glistening future for Michael Hill?

Sales rose by 3.3 per cent for iconic jeweller Michael Hill International (ASX: MHJ) in the second quarter while new initiatives in e-commerce and synthetic diamonds set the scene for potential future growth opportunities. Online sales still only accounted for 3.3 per cent of the company's $203.5 million in revenue, but Michael H...

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Jeanswest appoints voluntary administrators

Jeanswest appoints voluntary administrators

Classic Australian clothing retailer Jeanswest faces a possible restructure after voluntary administrators KPMG stepped in today. KPMG's Peter Gothard and James Stewart have been appointed as voluntary administrators for the brand which first opened its doors in Perth in 1972. The announcement will only impact Jeanswest's...

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Pegasus secures $28 million investment from US firm Accel-KKR

Pegasus secures $28 million investment from US firm Accel-KKR

Newcastle-based safety and competency tech company Pegasus has secured a $28 million capital injection from Silicon Valley investment firm Accel-KKR. The Australian company, which offers competency management, training, and site safety services for a variety of industries intends to deploy the funds to expand rapidly in the UK, Europe, an...

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Smoothie Bombs' 'cybersquatting' case is a lesson for every business owner

Smoothie Bombs' 'cybersquatting' case is a lesson for every business owner

In this modern era, having a good product and a strong sales plan in place is just one part of the equation for retail success. As marketing, sales, promotion and products are more online than ever before, ensuring your intellectual property is in place and sufficiently protected is essential. One Australian founder learned this the h...

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Kangaroo Island Plantation Timbers hit again by bushfires

Kangaroo Island Plantation Timbers hit again by bushfires

The bushfires on Kangaroo Island, South Australia, which have ravaged a large swathe of the western part of the island continue to cause problems for farmers in the region. In particular Kangaroo Island Plantation Timbers (ASX: KPT) has felt the heat, with the fires forcing the company into voluntary suspension from the ASX while the dama...

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Lease default kicks Gold Coast Innovation Hub out of the nest

Lease default kicks Gold Coast Innovation Hub out of the nest

Businesses involved with Gold Coast Innovation Hub have found themselves scrambling for space after one member defaulted on the lease at Robina Group's commercial centre The PC in CBDRobina. The incubator's CEO Sharon Hunneybell claims 42 Innovations, which was in charge of providing the lease for the workspace, defaulted and fail...

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Former Guvera CEO banned from managing companies

Former Guvera CEO banned from managing companies

Darren Herft, the former CEO of music streaming platform Guvera, has been banned from managing corporations for a period of two years by the Australian Securities and Investments Commission (ASIC). Herft's ban follows the failure of four companies within the Guvera group which collapsed in June 2017. Guvera was founded in 2008 by ...

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Ailing Evans Dixon US property fund reports further woes

Ailing Evans Dixon US property fund reports further woes

Evans Dixon's (ASX ED1) US Masters Residential Property Fund (ASX: URF) has been on rocky ground of late, and its woes have continued to worsen into the new year. The company has been forced to reduce its net asset value (NAV) by up to 30 per cent as a result of a struggling New York City housing market, an unfavourable exchange rate,...

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Thredbo resort back in business after bushfire closure

Thredbo resort back in business after bushfire closure

Event Hospitality & Entertainment (ASX: EVT) has reopened its summer operations at Thredbo after bushfires in and around the Kosciuszko National Park forced a closure at the start of the year. All in-resort operations including mountain biking were expected to resume today, however areas in the park outside Thredbo remain closed ...

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The Iconic mega-facility opens doors for bushfire donation storage

The Iconic mega-facility opens doors for bushfire donation storage

Donors wanting to chip in for bushfire relief are often encouraged to give cash rather than physical goods, thus avoiding the potential for charities to be overwhelmed with blankets, clothes and assorted paraphernalia. But online retailer The Iconic may have a solution to this logistical problem thanks to its upgraded fulfilment centre in...

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Medicinal cannabis clinic company to list on the ASX

Medicinal cannabis clinic company to list on the ASX

Emerald Clinics, a company that specialises in cannabinoid treatments, has launched a $6-8 million IPO ahead of a launch on the ASX next month. The company has four clinics in Sydney, Melbourne, Perth and the Northern Rivers region of NSW, providing safe access to cannabinoid medicines for qualified patients in collaboration with referrin...

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Girl Geek Academy launches in Samoa

Girl Geek Academy launches in Samoa

Melbourne-based Girl Geek Academy has launched in Samoa, further extending its mission to inspire women to develop skills in technology. The launch in Samoa is the first Pacific program for the Australian educators and saw nearly 50 women and girls learn how to code. Dubbed #MissMakesCode, the Samoa program was piloted free of charge ...

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Corporate Travel Management completes $26.5m US acquisition

Corporate Travel Management completes $26.5m US acquisition

Corporate Travel Management (ASX: CTD) has successfully acquired a Texas-based travel services provider for USD$18 million (AUD$26.5 million), bolstering its position as a Top 10 player in North America. The transaction to buy Corporate Travel Planners Inc (CTP) comprises 90 per cent cash and 10 per cent CTD stock, and is expected to...

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Zip records strongest quarter to date

Zip records strongest quarter to date

Buy-now pay-later (BNPL) platform Zip Co (ASX: Z1P) has capped off its strongest quarter to date in Q2 FY20, with record transaction volumes and an influx of new customers. The listed fintech recorded transaction volumes of more than $200 million in a single month for the first time during the December quarter. Zip was certainly given...

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Apollo sees bushfire fallout on the horizon for bottom line

Apollo sees bushfire fallout on the horizon for bottom line

Motorhome company Apollo Tourism & Leisure (ASX: ATL) faces a slowdown on two fronts as bushfires take their toll on domestic customer numbers and forward bookings from overseas. In a trading update today, the Brisbane-based group announced it would be challenging to reach the underlying FY19 net profit of $14.7 million again in ...

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