Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn (ASX: MGC) has settled one of its class actions, known as the Endeavour River class action, for $42 million. Slater and Gordon launched the suit on 16 August 2018, acting on behalf of aggrieved Murray Goulburn shareholders who the firm argued suffered losses at the hands of misleading and deceptive conduct. The key all...

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Kogan powers up with new energy service brand

Kogan powers up with new energy service brand

Kogan.com (ASX: KGN) has a reputation for delivering basically every service under the sun. Insurance, Internet, loans, and travel are just some of the more recent additions to the growing portfolio of brands under the Kogan umbrella. The group's latest endeavour sees the company offering power and gas services to Australians unde...

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Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers (ASX: AFL) is going full throttle as a listed law firm, notching its first acquisition since listing on the ASX in early June. The company has acquired Nita Stratton Funk & Associates Solicitors, marking its foray into the Queensland legal market. AFL will pay $300,000 in cash for the Queensland firm, whi...

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Bod signs distribution agreement with Gold Coast cannabis group

Bod signs distribution agreement with Gold Coast cannabis group

Listed cannabis healthcare company Bod Australia (ASX: BDA) has teamed up with Burleigh Heads Cannabis (BHC) and partner company Cannabis Doctors Australia (CDA) on a distribution agreement. Under the agreement Bod will gain access to BHC's wholesale network and will be able to utilise CDA's education, support and products for its...

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Mirvac to transform Boral quarry into major Melbourne housing estate

Mirvac to transform Boral quarry into major Melbourne housing estate

Boral has tapped Mirvac to transform its Melbourne quarry into a $1 billion suburb. Mirvac will manage the urban development of the Boral-owned 171-hectare site in Wantirna South, Victoria, over a multi-decade period, including a proposed new housing community and substantial new parklands. If Mirvac receives the necessary approvals t...

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Althea riding high after receiving first UK patient prescription

Althea riding high after receiving first UK patient prescription

Shares in Althea are hitting an all-time high following the announcement that it has received its first patient prescription in the United Kingdom for medicinal cannabis. But the good news doesn't stop there the company has also received a planning permit from the Frankston City Council for the group's Australian cultivation and m...

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Struggling Smiles Inclusive to raise capital to turn company around

Struggling Smiles Inclusive to raise capital to turn company around

While the dust is settling over a prolonged leadership battle at the top of listed dental company Smiles Inclusive (ASX: SIL) the company is poised to raise $1.2 million. Smiles says the funds will go towards the group's turnaround plan and meet its working capital requirements. The offer price for the placement will be $0.14 per ...

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Atlassian to fix outdated, inefficient and combative M&A process

Atlassian to fix outdated, inefficient and combative M&A process

When a big player comes knocking wanting to buy your startup it might seem too good to be true. The wad of cash being waved in your face might prove irresistible and that's understandable; you've worked for years to get to where you are right now, and you damn well deserve that payout. But big businesses know that M&A is a...

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BOQ CFO resigns as C-Suite shake-up continues

BOQ CFO resigns as C-Suite shake-up continues

Another Bank of Queensland (BOQ) executive is heading for the exits following the resignation of chairman Roger Davis and the appointment of new CEO George Frazis. The Brisbane-based bank today announced chief financial officer Matt Baxby has resigned to pursue other leadership opportunities. Like the outgoing chairman,...

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CEOs will sleep rough tonight to raise money for homelessness

CEOs will sleep rough tonight to raise money for homelessness

Business leaders around the country will tonight take warm clothes, their sleeping bags and sheets of cardboard to city centres in a bid to raise awareness about homelessness. The Vinnies CEO Sleepout is still about $700,000 shy of meeting last year's donations of $6.9 million and still has the goal of raising $7.1 million. The 2018 eve...

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GPT successfully raises $800M for Sydney purchases

GPT successfully raises $800M for Sydney purchases

Investors are showing bullish signs on property in the Sydney CBD, with GPT Group (ASX: GPT) raising $800 million in 24 hours to acquire stakes in commercial and retail sites in the city centre. Yesterday the company announced it would issue approximately 131.8 million stapled securities at the placement price of $6.07, representing a 3.9...

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SaaS scale-up Whispir makes ASX debut

SaaS scale-up Whispir makes ASX debut

With "on fire" growth in Southeast Asia and major customers like Disney and Virgin Australia, Melbourne-founded global cloud communications scale-up Whispir (ASX: WSP) has opened a new chapter as a public company today. Co-founder Jeromy Wells (pictured) tells Business News Australia the initial public offering (IPO) has be...

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GPT to fund Sydney CBD buyout through $800M capital raising

GPT to fund Sydney CBD buyout through $800M capital raising

GPT Group (ASX: GPT) is poised to acquire more than 100,000sqm of prime Sydney office space after it completes a sizeable $800 million institutional placement. GPT aims to take a 25 per cent stake in the Darling Park 1 and 2 office complexes plus Cockle Bay Wharf dining and retail precinct in the CBD. Total consideration for the CBD a...

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Breaking barriers: Australian-based outsourcing company makes impact in US market

Breaking barriers: Australian-based outsourcing company makes impact in US market

At its very core, outsourcing challenges what has been considered the standard with business operations for a long time. Businesses are now reaping the benefits of outsourcing roles that typically would have stretched their resources to breaking point. As a result they are able to cut major costs including massive overheads and wages....

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Facebook launches crypto project but obstacles abound

Facebook launches crypto project but obstacles abound

Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, PayPal and Uber to form Libra Association, a Geneva-based entity gov...

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International tourists splash cash on the Gold Coast

International tourists splash cash on the Gold Coast

Visitors from overseas continue to pour money into the pockets of the Gold Coast according to the latest International Visitor Survey figures. International visitor expenditure on the Gold Coast hit $1.4 billion for the year ending March 2019, with tourists spending large on hotels, food, and theme parks. The market share of internati...

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Can EMVision's portable brain scanner disrupt stroke treatment as we know it?

Can EMVision's portable brain scanner disrupt stroke treatment as we know it?

Studies show the brain ages by about 3.6 years for every hour that passes without appropriate treatment after a stroke. The disease is the world's second-leading killer after cancer worldwide, but to make a diagnoss for treatment the current solution comes in the form of stationary, complex and expensive imaging technologies like...

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The programmatic ad platform to give Silicon Valley a run for its money

The programmatic ad platform to give Silicon Valley a run for its money

Programmatic advertising forms the bedrock of most publishers in 2019. Major rags, websites and blogs have all dived into it in the past and still use it today for a very good reason - it is an automated, easy way to boost revenue from websites. But it also comes with a number of problems, which Business News Australia has dived into ...

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Field Orthopaedics launches revolutionary fracture healing product in Europe

Field Orthopaedics launches revolutionary fracture healing product in Europe

Brisbane-based medical innovation startup Field Orthopaedics will launch its latest medical device breakthrough in Europe this week. The group, which focused on medical device solutions filling shortcomings in the trauma, extremities, and biomedical markets, will launch the Field Micro Screw System at Europe's largest hand surgery eve...

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Jenny Hutson sidekick avoids jail

Jenny Hutson sidekick avoids jail

A former director of Wellington Capital found guilty of giving false or misleading information has been given a light sentence thanks to her cooperation with authorities. Mary-Anne Greaves has been discharged without proceeding to conviction after giving the Brisbane Magistrate's Court a security of $5,000 on the condit...

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AGL walks away from Vocus takeover

AGL walks away from Vocus takeover

AGL Energy (ASX: AGL) had four weeks to conduct its due diligence for a potential takeover of Vocus (ASX: VOC), but it only needed one. Following in the footsteps of Swedish company EQT which had pulled out of its $3.3 billion bid for the telco, AGL has determined its lower offer of $3 billion for Vocus wouldn't be worthwhile eit...

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Will Australia become Asia's 'clean green' medicinal cannabis supplier?

Will Australia become Asia's 'clean green' medicinal cannabis supplier?

From powdered milk to multivitamins to fresh fruit, Australian and New Zealand products command a health premium in Asian markets but can the medical cannabis industry leverage this 'clean green' image and follow suit?  Cann Group (ASX: CAN) CEO Peter Crock believes they will, and this was a driver for the company securing a ...

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ANZ sacks NZ chief citing "concerns" over transactions

ANZ sacks NZ chief citing "concerns" over transactions

Australia and New Zealand Banking Group (ASX: ANZ) has announced its New Zealand business CEO David Hisco (pictured) is stepping down after an internal review of his personal expenses. The board has raised concerns about the "characterisation of certain transactions" while the decision also follows ongoing health ...

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Honey Birdette hits back: 'There will be nipples. And plenty of them'

Honey Birdette hits back: 'There will be nipples. And plenty of them'

Multinational lingerie brand Honey Birdette has launched a new "Red Alert" ad campaign to fight against increased censorship it has received following pressure from a conservative lobby group. With the hashtag #notaskingforit, the Australian company's new campaign features censorship banners across the front of every image. ...

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Losses deepen for McGrath but can new CFO turn the tide?

Losses deepen for McGrath but can new CFO turn the tide?

A new CFO will soon fill the void left by the departure of Glynn Wright at listed property company McGrath (ASX: MEA) in March, with Howard Herman set to start in the role on 24 June. But Herman, who was recently CFO at NASDAQ-listed Australian apparel business Naked Brand Group, will have a tough job on this hands as the c...

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Ashy Bines' Morlife collab sweet with moreish treats

Ashy Bines' Morlife collab sweet with moreish treats

Collaborations are all the rage right now. Yeah, your business might have some pretty good reach and engagement on its own but what if you could get your business in front of 24 times the number of eyes, all hungry to buy whatever a certain someone is selling? Welcome to the world of influencer collaborations. One such major colla...

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Ousted founder pulls out of Smiles Inclusive board bid

Ousted founder pulls out of Smiles Inclusive board bid

Dental care company Smiles Inclusive (ASX: SIL) has today confirmed an attempt to hold a second vote over the board's future has been withdrawn by ousted founder Mike Timoney (pictured). Timoney and ex-chairman David Herlihy were voted off the board by shareholders at an extraordinary general meeting (EGM) held last month, b...

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Evans Dixon CEO steps aside to lead struggling US fund

Evans Dixon CEO steps aside to lead struggling US fund

Amidst falling profits and complaints over high fees and investment recommendations for its own in-house funds, financial advisory firm Evans Dixon (ASX: ED1) will see its CEO Alan Dixon (pictured) step aside to focus on the company's US residential property fund. Executive chairman David Evans will act as a temporary CEO while a...

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Afterpay faces AUSTRAC audit into anti-money laundering compliance

Afterpay faces AUSTRAC audit into anti-money laundering compliance

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of fintech Afterpay's (ASX: APT) after identifying concerns over compliance with financial crime legislation. The announcement prompted a 12.6 per cent drop in APT shares this morning down to $22.41. The financial intelligence agency ha...

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From Tinybeans big things grow

From Tinybeans big things grow

Has Australian-founded social media network Tinybeans (ASX:TNY) found the sweet spot between keeping user data strictly private and also monetising it?  With 3.2 million registered users and expectations cash flow will start to break even by the end of this calendar year, the now US-headquartered company is starting to reap the rewar...

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