McGrath acquires Sydney real estate business

McGrath acquires Sydney real estate business

Listed real estate group McGrath (ASX: MEA) has acquired Sydney Sotheby's International Realty - CBD and Pyrmont for $1.6 million. Owned previously by Richard Shalhoub (pictured), the company is a sales agent in the NSW capital's CBD and northern CBD harbourfront markets. The deal will be settled in cash by the beginning of Ju...

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Hemp licences granted to Murray River Organics and Althea

Hemp licences granted to Murray River Organics and Althea

Two ASX-listed companies have received regulatory breakthroughs today after receiving hemp cultivation licences by Agriculture Victoria. Shares in Murray River Organics (ASX: MRG) and Althea (ASX: AGH) rose by around 6.4 per cent and 10.2 per cent respectively in early trading. The licence, formally known as an 'Authorit...

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Swedish suitor loses interest in Vocus

Swedish suitor loses interest in Vocus

Shares in internet service provider Vocus (ASX: VOC) fell almost 15 per cent at market opening this morning after Swedish company EQT decided to scrap its $3.3 billion takeover offer for the company. On 27 May EQT made a non-binding bid at $5.25 for the Melbourne-based group which owns the iPrimus and Dodo brands, representing a 35 per ce...

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Ousted Smiles Inclusive founder escalates vote tampering claims

Ousted Smiles Inclusive founder escalates vote tampering claims

The founder of Smiles Inclusive (ASX: SIL) has made it clear he will not go quietly, with continued allegations there were voting irregularities at the EGM where he and former chairman David Herlihy were removed from the board.  Last week the embattled Gold Coast-based dental company, whose shares have fallen 85 per cent since O...

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ASIC charges former Octaviar CFO with fraud

ASIC charges former Octaviar CFO with fraud

Just two years after he was banned from managing a corporation and ordered to pay $205 million to aggrieved shareholders in a failed fund, former Octaviar CFO David Anderson has been charged with 26 counts of fraud. As a publicly listed company with interests in the financial services, travel, leisure and childcare sectors, Gold Coas...

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Coca-Cola sells SPC for $40 million

Coca-Cola sells SPC for $40 million

Coca-Cola Amatil (ASX: CCL) has sold its SPC fruit and vegetable processing business to Shepparton Partners Collective for $40 million. The company will pocket an expected $10 million to $15 million profit as a result of the sale, after taking into account the costs of disposal. The sale is expected to be completed by the end of June ...

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Bod to supply medicinal cannabis for a PTSD trial

Bod to supply medicinal cannabis for a PTSD trial

Listed medicinal cannabis healthcare company Bod Australia (ASX: BDA) will supply its cannabis extract, MediCabilis, to sufferers of Post Traumatic Stress Disorder (PTSD) in a landmark trial. Research partner Cannabis Access Clinics is facilitating the trial looking into how medicinal cannabis can treat symptoms of the psychological disor...

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Mirvac splashes $333.5M on QVM apartments

Mirvac splashes $333.5M on QVM apartments

Property group Mirvac (ASX: MGR) is making strides in the build-to-rent apartment space after entering an agreement with developer PDG to acquire 490 completed units in the Munro development at Melbourne's Queen Victoria Market (QVM). The move will cost Mirvac $333.5 million, with the agreement subject to conditions such as&...

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Class action to be brought against Suncorp Super

Class action to be brought against Suncorp Super

William Roberts Lawyers and Litigation Capital Management (LCM) have partnered up to bring a class action against Suncorp Group's super funds trustee. The proposed class action will be brought on behalf of members of Suncorp Super Funds to recover compensation for those whose accounts were impacted by charges used to pay conflicted re...

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LandMark White details second data breach in six months

LandMark White details second data breach in six months

Listed property valuer LandMark White (ASX: LMW) has revealed details of another data breach, the second in the last six months for the company. The group says company documents were posted to US file sharing platform SCRIBD on Wednesday 29 May 2019 by an individual known to LandMark White. LMW has taken steps to request these documen...

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Althea launches medicinal cannabis prescriber platform in the UK

Althea launches medicinal cannabis prescriber platform in the UK

Following the success of its prescriber platform in Australia, listed cannabis company Althea (ASX: AGH) has launched a similar set-up in the United Kingdom. Called Althea Concierge UK the medical education platform, first launched in Australia in September 2018, provides clinical evidence for healthcare professionals looking to prescribe...

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People Infrastructure buys Halcyon Knights for $13.5M

People Infrastructure buys Halcyon Knights for $13.5M

Brisbane-based workforce management tech company People Infrastructure (ASX: PPE) remains on the expansion path after announcing a $13.5 million acquisition of Halcyon Knights. The incorporation of the IT recruitment leader, with 55 staff and operations in Melbourne, Sydney, New Zealand and Singapore, is expected to be significantly earni...

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Thorn Group fights for survival following 676 per cent nosedive

Thorn Group fights for survival following 676 per cent nosedive

Thorn Group (ASX: TGA) has reported a statutory net loss after tax of $14.9 million for the 2019 financial year, casting doubt on whether it will exist in the foreseeable future. The loss marks a staggering 676 per cent drop from FY18 and is well below guidance issued on 1 April 2019, which foreshadowed a loss of only $8 million. The ...

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How UKO is empowering inner-city renters with its "co-living" model

How UKO is empowering inner-city renters with its "co-living" model

Co-working spaces have transformed the way many of us work and operate. They are the spaces that underpin many great Australian entrepreneurs and startups. UKO hopes to achieve a semblance of this culture, but instead for the residential market with its unique and Australian first "co-living" buildings. Developed by serial p...

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Bettercup's anti-plastic revolution

Bettercup's anti-plastic revolution

Businesses in Sydney have this week pledged to cut down on the use of single-use plastics in the workplace. Companies like the Sydney Opera House, Atlassian, Fox Studios, and Star Entertainment Group are committing to using fewer plastic bottles, straws, cups, and utensils in an effort to save the environment. It's a move that'...

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The formula that will take an ASX-listed dairy giant to the next level

The formula that will take an ASX-listed dairy giant to the next level

Listed dairy farmer Australian Dairy Nutritionals (ADN, ASX: AHF) is poised to watch its business take off. The company is on the cusp of becoming a fully fledged player in the lucrative infant formula space, pending the relocation and launch of an offshore plant it agreed to acquire last month. Due diligence has now been completed on...

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Jetstar fined $1.95 million for misleading customers about refunds

Jetstar fined $1.95 million for misleading customers about refunds

Australian airline Jetstar has been forced to pay $1.95 million in penalties for making misleading representations about refunds and customer rights on its website. The Federal Court found that the Qantas (ASX: QAN) subsidiary made false or misleading statements about customer rights on its website between April 2017 and March 2018. S...

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Shareholders punish Apollo for sudden profit guidance slash

Shareholders punish Apollo for sudden profit guidance slash

"Deteriorating" trading conditions are to blame for Apollo Tourism & Leisure's (ASX: ATL) slashed profit guidance. The company expects FY19 statutory NPAT to be between $14 million and $15.5 million. This is down from a healthy $17.5 million and $19.5 million that the company expected at the beginning of May, just 28...

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Shine settles class action brought against it by shareholders

Shine settles class action brought against it by shareholders

No win no fee law firm Shine Corporate (ASX: SHJ) has settled a class action brought against it by shareholders back in 2017. The class action was launched by aggrieved shareholders after the firm's shares plummeted 73 per cent following a 10-day suspension from trade in 2016. Shareholders alleged that Shine misled investors in a ...

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Maurice Blackburn launches class action against AMP

Maurice Blackburn launches class action against AMP

The long-awaited class action against AMP is now live, with law firm Maurice Blackburn at the helm. The firm, which won the right to bring the class action against AMP last week, is seeking compensation for AMP superannuation fund members allegedly hit by "unreasonable" fees. The case arises from evidence presented at the Ro...

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The INDIGO subsea cable is ready to be deployed

The INDIGO subsea cable is ready to be deployed

The nearly 10,000km long subsea INDIGO subsea cable connecting Australia and South East Asia is now complete and ready for use. Consortium members can now use the Internet connectivity cable that stretches 4,600km from Singapore to Perth and another 4,600km from Perth to Sydney. AARNet, Google, Indosat Ooredoo, Singtel, SubPartners an...

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Oliver's on track to black after founder returns

Oliver's on track to black after founder returns

Oliver's Real Food (ASX: OLI) appears to have everything back in place following the return of its founder to the role of CEO in March. The company was in dire straits before the return of founder Jason Gunn (pictured). Shares were nosediving, profits were slashed, and the company was bleeding out cash. But it looks as if the grou...

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GetSwift shares back on deck after trading lockdown

GetSwift shares back on deck after trading lockdown

A clarification has seen GetSwift shares fall back down to earth by more than 10 per cent in afternoon trading.  Shares in GetSwift (ASX: GSW) are trading once more after the logistics group responded to ASX concerns over an undisclosed partnership with a Kuwaiti fast food company. Trading was suspended for the embattled tec...

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BOQ chairman Roger Davis resigns

BOQ chairman Roger Davis resigns

After six years of service as chairman of the Bank of Queensland (ASX: BOQ) Roger Davis (pictured) has resigned. Davis has announced he will step down from the role following the release of BOQ's full year results in October 2019. He will also step down from the board of BOQ in October 2019, meaning he will have served on the boar...

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Smiles Inclusive threatens legal action over former CEO's "destructive" campaign

Smiles Inclusive threatens legal action over former CEO's "destructive" campaign

The board of Smiles Inclusive has threatened to take founder and former CEO Mike Timoney (pictured) to court over his campaign to undermine the results of last week's extraordinary general meeting (EGM). Gold Coast-based Smiles announced this morning it had received a notice from Timoney stating an intention to convene another EGM see...

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Get creative landlords: CBD retail supply hits new high

Get creative landlords: CBD retail supply hits new high

Real estate agency CBRE says retailers must harness creativity and innovation if they are to increase their wallet share, while landlords need to recalibrate their offerings in response to changing market conditions. The company's Q1 Retail MarketView found 65,000sqm of new CBD retail supply is slated nationally in 2019, representing ...

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Uniti Wireless pursues aggressive growth after $15 million raise

Uniti Wireless pursues aggressive growth after $15 million raise

Adelaide-based telecommunications company Uniti Wireless (ASX: UWL) has raised $15 million in order to pursue an "aggressive" growth strategy. The company raised the $15 million from a placement of 15 million new shares at $1 per share, representing a premium of 26 per cent. The company sought to raise $10 million minimum bu...

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Medlab enters new deal to distribute cannabis spray for cancer pain

Medlab enters new deal to distribute cannabis spray for cancer pain

Australian cannabis company Medlab (ASX: MDC) has entered its second partnership in three months for distributing its cannabis-based spray NanaBis, after securing a heads of agreement with Thai pharmaceutical group Mega Lifesciences. The agreement means Mega will be able to distribute the drug in "parts of South America", a...

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Blue Sky breakaway fund wants Wilson to take the reins

Blue Sky breakaway fund wants Wilson to take the reins

After confirming its solvency and separation from its former parent company now in receivership, Blue Sky Alternatives Access Fund (ASX: BAF) is now taking steps to change its management and cut ties to the mothership once and for all. In a letter to shareholders today, BAF chairman Michael Cottier (pictured) said a proposal wou...

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Vocus receives $3.3 billion takeover offer

Vocus receives $3.3 billion takeover offer

Internet service provider Vocus (ASX: VOC) has received a non-binding $3.3 billion takeover bid from private equity firm EQT Infrastructure. The proposal would see EQT acquire all shares in Vocus for $5.25 per share, representing a significant premium to last Friday's closing price of $3.89. The Vocus board has granted the bidder ...

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