THC secures new production site in Bundaberg

THC secures new production site in Bundaberg

Medicinal cannabis company THC Global (ASX: THC) has secured a lease over a prime site for cannabis production in Bundaberg, Queensland. The site includes 6.6 hectares of existing hydroponic greenhouses plus an additional 180,000m2 of agricultural land suitable for open-field cannabis or hemp cultivation. THC will now apply to the Aus...

Read More...
Brisbane's Gambaro family to sell namesake hotel and restaurant

Brisbane's Gambaro family to sell namesake hotel and restaurant

The Brisbane hotel made famous globally for hosting German Chancellor Angela Merkel as a guest during the G20 Summit is now up for sale. Owned by one of the river city's most well-known hospitality families, the 5-star boutique Gambaro Hotel opened in 2014 on the city's lively Caxton Street and was designed by Hirsch Bedner. W...

Read More...
Big Red Group acquires social concierge Lime&Tonic

Big Red Group acquires social concierge Lime&Tonic

Naomi Simson's Big Red Group (BRG) has today added another experience marketplace to its growing suite of brands. Lime&Tonic, an events and experiences retailer, joins RedBalloon, Adrenaline and IfOnly under the Big Red umbrella. The acquisition follows the launch of BRG's IfOnly in June this year and the acquisition of Ad...

Read More...
Construction underway for Kaufland's first Adelaide store

Construction underway for Kaufland's first Adelaide store

European hypermarket giant Kaufland has today started construction on its first store in South Australia, within a week of announcing two more store confirmations in Victoria. The group owned by one of Germany's richest men Dieter Schwarz is in the midst of a massive roll-out in Australia, its first outside Europe.  Like...

Read More...
Karen Millen Australia falls into administration

Karen Millen Australia falls into administration

The Australian arm of the iconic UK fashion house Karen Millen has fallen into administration. It comes just as its UK parent company went into administration in Britain, spelling the end for the Australian business at the time, and sold to online retailer Boohoo. Deloitte has been appointed as the administrators of the UK company'...

Read More...
Ashley & Martin unfair contracts in the crosshairs

Ashley & Martin unfair contracts in the crosshairs

The Federal Court has determined three standard contracts from hair loss business Ashley & Martin are void because they are unfair to consumers. The Australian Competition and Consumer Commission (ACCC) highlights the company signed up more than 25,000 customers to its 'Personal RealGROWTH Program' to contracts on unfair terms...

Read More...
ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

Two major Australian banking institutions have been sued by the Australian Securities and Investment Commission for allegations of the use of unfair contract terms. Bendigo and Adelaide Bank and BOQ have been taken to the Federal Court by the watchdog who alleges that the banks used contract terms with small businesses that were unfair. ...

Read More...
Comuna Cantina to open in new Brisbane foodie precinct

Comuna Cantina to open in new Brisbane foodie precinct

Brisbane entrepreneur Tim Johnson (pictured) has announced the launch date for the first of three venue openings he has on the cards at the new Everton Plaza Park Lane food precinct. The Latin American-inspired street food restobar Comuna Cantina will open at Everton Plaza on 19 September, adding to the existing venue in Albert Lane ...

Read More...
Culture Amp raises $120m for global expansion

Culture Amp raises $120m for global expansion

Melbourne-based HR technology company Culture Amp has successfully raised US$82 million ($120 million) in a Series E funding round led by Sequoia Capital China. The latest round values the people and culture platform at US$700 million ($1.04 billion) and will go towards global expansion for a company that already has 2,500 compa...

Read More...
Cannatrek to begin medicinal cannabis production in Queensland

Cannatrek to begin medicinal cannabis production in Queensland

Australian medicinal cannabis producer Cannatrek is adding to its large-scale growing capability after receiving a permit to begin growing the drug in Queensland. The company has received a growing permit for its Queensland facility from the Office of Drug Control (ODC). The facility has a total growing area of 3,200m2 in climate-controll...

Read More...
The Agency hungry for more acquisitions after Top Level takeover

The Agency hungry for more acquisitions after Top Level takeover

Real estate group The Agency (ASX: AU1) plans to keep expanding despite its latest acquisition raising some financial red flags. The group has announced a capital raise of approximately $4.5 million, which is just higher than the $4.2 million loss it posted in FY19.   Of the amount raised $1.5 million will go toward potentia...

Read More...
Class action against Radio Rentals leads to $29 million settlement

Class action against Radio Rentals leads to $29 million settlement

Radio Rentals' controversial 'Rent, Buy, $1 Buy' scheme has come back to bite more than two years after a class action filed by Maurice Blackburn Lawyers alleging unconscionable conduct.  The electronics and home appliance rental group's parent company Thorn Group (ASX: TGA) has stopped short of admitting guilt o...

Read More...
Move your Bod! Major sales increase for medicinal cannabis group

Move your Bod! Major sales increase for medicinal cannabis group

Australian medicinal cannabis company Bod (ASX: BDA) has seen sales of its MediCabilis product soar during August. The company dispensed 329 MediCabilis prescriptions in August, representing an increase of 95 per cent from July 2019 when prescriptions totalled 169. Further, prescriptions for August represent a 467 per cent increase on...

Read More...
Telstra divests Chief Entertainment to UK broadcast company

Telstra divests Chief Entertainment to UK broadcast company

UK-based Gravity Media has acquired Australian live studio and production services business Chief Entertainment from Telstra (ASX: TLS). Gravity Media already operates in Australia under the Gearhouse Broadcast, HyperActive Broadcast and Input Media brands, and hopes the acquisition of Chief Entertainment will completement this suite of c...

Read More...
The Agency defies real estate gloom with revenue boost

The Agency defies real estate gloom with revenue boost

If the results of real estate giant McGrath and industry e-rag Domain are anything to go by, the sector is going through some major turbulence. But that certainly hasn't impacted The Agency (ASX: AU1) which defied the odds in FY19. In spite of the doom and gloom real estate sector that resulted in McGrath posting a $15.6 million l...

Read More...
EMVision on track for portable brain scanner trial

EMVision on track for portable brain scanner trial

A Brisbane-based medical technology company led by the former CEO of ASX darling Nanosonics (ASX: NAN) is on target to start trialing its portable non-invasive brain scanner in the last quarter of this year. Harnessing more than a decade of research into electromagnetic microwave imaging from the University of Queensland, EMVision (ASX: E...

Read More...
ACCC alleges Medibank misrepresented insurance coverage

ACCC alleges Medibank misrepresented insurance coverage

Australia's consumer rights watchdog has alleged Medibank Private's incorrect communication with members led some to "needlessly" upgrade insurance policies to gain benefits that were already covered under their existing plans.  The Australian Competition and Consumer Commission (ACCC) has instituted proceeding...

Read More...
Future expansion on the cards for a fit Healthia

Future expansion on the cards for a fit Healthia

For growing allied health company Healthia (ASX: HLA) FY19 was a year of establishing a solid foundation. The financial year was Healthia's first as an ASX listed entity, and the team has knocked its own expectations out of the park. Underlying revenue exceeded its prospectus forecast by 6.6 per cent, EBITDA was ahead of its prosp...

Read More...
Fintech Frollo acquires AI startup Hip Money

Fintech Frollo acquires AI startup Hip Money

Digital finance platform Frollo is expanding its horizons into the world of artificial intelligence with a fresh acquisition. The Australian company has taken over Hip Money, a US-originated and Australian-based tech startup founded in 2017 that uses AI to help users eliminate debt and save money. Frollo expects Hip Money's A...

Read More...
Brand write-downs and restructuring drive $149m loss for Retail Food Group

Brand write-downs and restructuring drive $149m loss for Retail Food Group

Store closures and a heavy FY19 loss capture the tone of a challenging year for Retail Food Group (ASX: RFG), a franchisor that is finetuning its focus against a backdrop of significant asset impairments and restructuring costs. Brands are everything in the food business, particularly if brand IP is a key part of your model like RFG ...

Read More...
Silver Chef dumps Next Capital sale in favour of Blue Stamp Company

Silver Chef dumps Next Capital sale in favour of Blue Stamp Company

Silver Chef (ASX: SIV) has dumped a sale to Next Capital after key shareholder Blue Stamp Company (BSC) spoke out about the "groundswell of disdain" for the proposal. Silver Chef now intends to work with BSC on a recapitalisation program, after announcing today it had terminated the Next Capital scheme implementation a...

Read More...
Smiles Inclusive blames $19m loss on relationship breakdowns

Smiles Inclusive blames $19m loss on relationship breakdowns

The plaque is accumulating on Smiles Inclusive's (ASX: SIL) financial results after the dental practice announced losses had ballooned by 281 per cent in FY19 to $18.9 million. In the late hours of Friday the Gold Coast-based group released its unaudited results citing a $13.7 million impairment of assets. Putting that aside, the ...

Read More...
Silver Chef shareholder cites "groundswell of disdain" for Next Capital deal

Silver Chef shareholder cites "groundswell of disdain" for Next Capital deal

Just as the management of Silver Chef (ASX: SIV) thought the struggling hospitality rental company's woes could be solved through a sale to Next Capital, an influential shareholder has fired up and called for a refreshed board. Blue Stamp Company (BSC), a Brisbane-based investor that holds a 19.99 per cent share in SIV and i...

Read More...
Profits flow as Blue Sky Alternatives Access Fund beats the odds

Profits flow as Blue Sky Alternatives Access Fund beats the odds

Blue Sky Alternatives Access Fund (ASX: BAF) has seen encouraging financial results as it continues to look for a new manager; a move that would allow it to bid good riddance to its parent enveloped in controversy. The company saw a significant increase in expenses in FY19 due to the malaise that has surrounded Blue Sky Alternative Invest...

Read More...
Australian cannabis companies bring in revenue but remain in the red

Australian cannabis companies bring in revenue but remain in the red

Three of Australia's top cannabis companies have released their FY19 results today, and the story is similar across the board. Revenue and income are being generated at a stronger level than in the previous financial year, but all three remain unprofitable. AusCann Group (ASX: AC8) saw its revenues rise by 267 per cent to $1.5 mil...

Read More...
Profit up by almost half for People Infrastructure

Profit up by almost half for People Infrastructure

Workforce solutions provider People Infrastructure (ASX: PPE) expects recent acquisitions to bring further upside to the company after it recorded positive organic growth for FY19. The Brisbane-based group recorded a 43.6 per cent rise in normalised net profit after tax and amortisation (NPATA) to reach $12 million, with revenue grow...

Read More...
BlueScope Steel accused of price fixing by ACCC

BlueScope Steel accused of price fixing by ACCC

The Australian Competition and Consumer Commission (ACCC) has taken action against BlueScope Steel (ASX: BSL) and its former general manager sales and marketing Jason Ellis for alleged cartel conduct. The watchdog alleges that between September 2013 and June 2014 BlueScope and Ellis attempted to induce steel distributors in Australia and ...

Read More...
Weak property market takes its toll on Yellow Brick Road

Weak property market takes its toll on Yellow Brick Road

Wealth managers Yellow Brick Road have posted a FY19 net loss after tax of $37.39 million, with the company blaming negative property market forces for the result. The company says that this loss can be attributed to lending volumes being 19 per cent lower than the 2019 year, largely due to market forces. The group was hit by a non-ca...

Read More...
Slater & Gordon UK hit with a counterclaim by Watchstone Group

Slater & Gordon UK hit with a counterclaim by Watchstone Group

Once a prized acquisition of law firm Slater & Gordon (ASX: SGH) and now an aggrieved respondent, Watchstone Group has launched its own counterclaim against the separate UK law firm. The professional services business, formerly known as Quindell, was acquired for $1.3 billion by Slater & Gordon in 2015. It was the beginning of...

Read More...
What does MMA fighting have in common with scaling a business?

What does MMA fighting have in common with scaling a business?

You might not think it at first glance, but MMA fighting and the start-up life aren't so different from one another. For instance, both smack you in the face, punch you in the guts, and, to put it bluntly, beat the crap out of you. That's why Leigh Rust (pictured left) - who along with his brother Nathan won the Manufactu...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 1487
Mudgeeraba QLD 4213

LoginTell a FriendSign Up to Newsletter