Business News Australia cracks 100,000 unique visitors mark

Business News Australia cracks 100,000 unique visitors mark

Business News Australia has bucked the trend of a challenging media environment with staggering organic growth in readership rates over the past year. Driven by a Millennial-majority demographic, the most recent data shows our independent news site reached 101,000 visits. This represents a staggering year-on-year growth of 84 per cent...

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Rural Funds hits back at short seller Bonitas

Rural Funds hits back at short seller Bonitas

Australia's most experienced agricultural fund manager has entirely rejected claims made by a Texas-based short seller whose report into the company sent its shares into freefall yesterday. Bonitas Research, an entity set up by Glaucus Research founder Matthew Wiechert who was responsible for similar attacks that prompted the dow...

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Charter Hall acquires Chifley Tower

Charter Hall acquires Chifley Tower

Two Charter Hall (ASX: CHC) managed wholesale funds have partnered with Singapore sovereign wealth fund GIC to acquire the iconic Chifley Tower. Charter Hall will assume the asset and property management of 2 Chifley Square, Sydney, increasing the group's funds under management (FUM) by approximately $1.8 billion to over $33 billion. ...

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One for the road: CEO resigns at Australia's largest pub property group

One for the road: CEO resigns at Australia's largest pub property group

The owner of Australia's largest portfolio of freehold pub properties will say cheers to its longstanding CEO after 16 years in the job. ALE Property Group (ASX: LEP) announced today its CEO and managing director Andrew Wilkinson will be stepping down to pursue new executive challenges. The executive has overseen a growth in ALE...

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CommBank will take on Afterpay in buy-now pay-later market

CommBank will take on Afterpay in buy-now pay-later market

Australia's largest bank is moving with the times in a financial market where buy-now pay-later (BNPL) companies like Afterpay (ASX: APT) and Zip Co (ASX: Z1P) have gained traction with consumers and investors alike. In its results announcement today, Commonwealth Bank (ASX: CBA) announced it had signed an agreement with Swedish onlin...

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Queensland government backs Gold Coast light rail extension

Queensland government backs Gold Coast light rail extension

The Queensland state government has backed the next stage of the Gold Coast light rail project with a $351 million commitment. The next stage of the development will see the G:link extended by seven kilometres from Broadbeach South to Burleigh Heads and include eight new stations. The extension project is expected to create 760 new jo...

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Suncorp investors get $506m gift from Australian Life Insurance sale

Suncorp investors get $506m gift from Australian Life Insurance sale

The loss incurred from the sale of its Australian Life Insurance business was the main reason why Suncorp's (ASX: SUN) profit plummeted in FY19, but shareholders will be rewarded for their patience with a generous payout. Within months of the resignation of CEO Michael Cameron, the Brisbane-based company posted a net profit after...

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Medicinal cannabis industry welcomes extended government support

Medicinal cannabis industry welcomes extended government support

The Federal Government has promised to support major medicinal cannabis projects to the delight of the sector. Under the plan, medicinal cannabis projects that have been granted major project status (MPS) will be given priority to receive medicinal cannabis licences through the Office of Drug Control (ODC). MPS is granted by the depar...

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Glaucus founder strikes again as Rural Funds Group shares collapse

Glaucus founder strikes again as Rural Funds Group shares collapse

Agricultural real estate investment trust Rural Funds Group (ASX: RFF) saw its shares plunge 43 per cent this morning following an activist short sell attack from Bonitas Research. The Texas-based fund was founded by Matthew Wiechert, also known as the founder of Glaucus Research which triggered the decline of Blue Sky Alternative Investm...

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Kip McGrath retires from global tutoring empire

Kip McGrath retires from global tutoring empire

Education entrepreneur Kip McGrath has retired from his namesake company with tutoring centres around the world, leaving a lasting legacy that began more than four decades ago in the Hunter Valley of NSW. The announcement comes shortly the board forecast net profit after tax for Kip McGrath Education Centres (ASX: KME) would be up 30 per ...

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Creso pushes further into blooming NZ medicinal cannabis market

Creso pushes further into blooming NZ medicinal cannabis market

Medicinal cannabis manufacturer and developer Creso Pharma (ASX: CPH) has signed a key deal with New Zealand's Medleaf Therapeutics. The deal will see Australia-listed Creso push deeper into the bourgeoning medicinal cannabis market across the ditch. Creso's movements come at a pivotal time in New Zealand, with the country gea...

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Profit takes a hit at SCA Property Group

Profit takes a hit at SCA Property Group

Despite raising $1.3 billion in capital during the past financial year, SCA Property Group (ASX: SCP) has come up short on profit. The company reported a statutory net profit of $109.6 million representing a 37.4 per cent drop on FY18. SCA largely blames acquisition transaction costs and a weak property valuation uplift for the inferi...

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Yowie escapes coup as Bolton and Khan clash over Keybridge

Yowie escapes coup as Bolton and Khan clash over Keybridge

Troubled investment firm Keybridge Capital (ASX: KBC) has been choc-blocked in its attempt to oust chairman Louis Carroll from confectioner Yowie (ASX: YOW), with investors seemingly taking little encouragement from the suitor's own internal conflicts.  Keybridge, backed by notorious corporate raiders Farooq Khan and Nichola...

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VGI launches another ASX entity for new Asian investment strategy

VGI launches another ASX entity for new Asian investment strategy

VGI Partners (ASX: VGI) hopes to raise $500 million for the launch of a new Asian investment strategy and subsequent ASX-listed fund. Investors will be able to access VGI's latest strategy through a new entity VGI Partners Asian Investments Limited (ASX: VG8). This latest move comes just four months after the hedge fund launched a...

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Flight Centre takes full ownership of Canadian corporate travel and leisure business

Flight Centre takes full ownership of Canadian corporate travel and leisure business

Just over a month after taking over Paris-based corporate travel group 3Mundi, Flight Centre (ASX: FLT) is boosting its exposure to another French-speaking market.  The Brisbane-headquartered company now has 100 per cent ownership of North American premium leisure and corporate travel business Les Voyages Laurier du Vallon ...

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Wesfarmers' acquisition of Catch Group gets green light from ACCC

Wesfarmers' acquisition of Catch Group gets green light from ACCC

The national competition regulator sees no problem with Wesfarmers' (ASX: WES) proposed $230 million acquisition of online retailer Catch Group and will not oppose the deal. The Australian Competition and Consumer Commission (ACCC) determined a link-up of Wesfarmers' Kmart and Target stores with the e-commerce player would no...

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Rhipe acquires encryption and cyber security company

Rhipe acquires encryption and cyber security company

Australian cloud computing solutions business Rhipe (ASX: RHP) has acquired Network2Share for $2 million. Of interest to rhipe was Network2Share's user-friendly encryption product called SmartEncrypt which rhipe plans to bundle with Microsoft Office365, Microsoft Azure, and other vendor software licences. "The acquisition wil...

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Blue Sky ditched as SA venture capital fund manager

Blue Sky ditched as SA venture capital fund manager

Embattled fund manager Blue Sky Alternative Investments (ASX: BLA) has been dropped by the South Australian government from its role of managing the state's venture fund. The independent committee in charge of the $50 million SA Venture Capital Fund (SAVCF) is in the process of appointing a new fund manager to oversee the investments ...

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How a sickening 'casting couch' experience led The Clean Collective to defy Silicon Valley

How a sickening 'casting couch' experience led The Clean Collective to defy Silicon Valley

When co-founder of The Clean Collective Charlie Thompson (pictured) told me about her experience with venture capitalists in Silicon Valley my first reaction was "that still happens?". In retrospect, that reaction was incredibly naïve, but I am certain there are others who would react in a simliar way; people who are unfami...

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South Bank commercial building sells for $44 million

South Bank commercial building sells for $44 million

One of seven major commercial buildings on Grey Street in South Bank has sold for $44 million. VennCap acquired the property on 164 Grey Street, South Bank for $44,650,000, representing a market yield of 5.4 per cent. Marquette Properties recently executed a new 10-year lease to Queensland X-Ray for the majority of the building, follo...

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Redcape acquires Pig 'N' Whistle Redbank Plains

Redcape acquires Pig 'N' Whistle Redbank Plains

The Redcape Hotel Group (ASX: RDC) is best known for its chain of 32 local pubs, taverns and hotels that stretch the length of Queensland and New South Wales. It's watering hole portfolio has now grown following the acquisition of the Pig 'N' Whistle Redbank Plains. Today the Group announced that it has exchanged contracts...

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Botanix completes $40m capital raising ahead of international push

Botanix completes $40m capital raising ahead of international push

On the cusp of what Botanix (ASX: BOT) is calling "one of the most significant chapters" in the development of its cannabis portfolio, the company has completed a $40 million capital raising. The oversubscribed share placement was led by the US-based institutional investors and specialist biotech investment funds opting for a bi...

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Healthia on a roll with latest acquisitions

Healthia on a roll with latest acquisitions

Diversified health business Healthia (ASX: HLA) has been on a buying spree of late, with today's acquisition of a suite of hand therapy clinics its latest purchase. The group, chaired by former Greencross CEO Dr. Glen Richards, has acquired four specialty hand therapy clinics in Sydney for $3.5 million in total. Group CEO of Physi...

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The Agency pays for aggressive expansion

The Agency pays for aggressive expansion

It may have come with a hefty price tag, but Perth-based national property group The Agency (ASX: AU1) has achieved a whopping 150 per cent increase in revenue to $40 million. In the three months to June 30 the company's cash receipts increased 50 per cent quarter-on-quarter to hit $13.7 million, on the back of a record number of exch...

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Qantas' stake in Alliance hits turbulence

Qantas' stake in Alliance hits turbulence

Qantas' (ASX: QAN) acquisition of a 20 per cent interest in Alliance Airlines (ASX: AQZ) has triggered alarm bells for the competition watchdog. In a statement released this morning, the Australian Competition and Consumer Commission (ACCC) noted some red flags relating to certain transport routes only travelled by Qantas and Alliance...

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Superloop earnings return to normal after major project completion

Superloop earnings return to normal after major project completion

Major network builds will be the foundation for Superloop's (ASX: SLC) earnings recovery over the next financial year. The company announced this morning it expects FY20 underlying guidance to double year-on-year to $14-$16 million. This growth is backed by recent network builds as well as strong anticipated growth in its fibre co...

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Property developer Ralan falls into administration

Property developer Ralan falls into administration

Major NSW-based property developer Ralan Group has fallen into administration, leaving key builds in the lurch alongside its creditors. Administrators Grant Thorton were appointed on Wednesday to determine what is to happen with the collapsed company. The Ralan group specialises in the development and management of commercial and resi...

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Smiles Inclusive partner at odds with turnaround message

Smiles Inclusive partner at odds with turnaround message

The leaders of dental practice Smiles Inclusive (ASX: SIL) have assured investors every effort is being made to turn the struggling business around this financial year, but one aggrieved joint venture partner claims the operation is just a "train wreck waiting to happen". In an announcment to the ASX yesterday, chairma...

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Bridgestone acquires Lube Mobile

Bridgestone acquires Lube Mobile

After almost four decades in business mobile car mechanic company Lube Mobile is changing hands. The Australian arm of Japan-based multinational Bridgestone Corporation today announced it had purchased the iconic automotive services provider at an undisclosed price. The acquired business founded in 1982 will operate independently of B...

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Google drone delivery to touch down in Queensland

Google drone delivery to touch down in Queensland

The city of Logan in South East Queensland is on a roll at the moment. First there was the world's largest online training marketplace GO1 announcing the opening of its global headquarters in the city, but now a behemoth is coming to town.  After trialling a drone delivery service in Canberra for the last few months, Google-a...

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