AAP Newswire to close in June

AAP Newswire to close in June

News and content distributor AAP Newswire will close in June after 85 years of operation, citing the rise of free online content as the company's death knell. CEO Brice Davidson said the business was no longer viable in the face of increasing free online content, leading to the closure of Newswire and AAP's Pagemasters editorial p...

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Spotlight Group to rescue Harris Scarfe from total closure

Spotlight Group to rescue Harris Scarfe from total closure

Legacy department store Harris Scarfe will be saved from complete collapse by retail giant Spotlight Group, potentially securing the ongoing employment for more than 1,000 employees. The receivers of Harris Scarfe have granted exclusivity to Spotlight Group to acquire the business after the department store fell into administration in Dec...

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How luxury property filmmaker Goldeneye Media went global without going viral

How luxury property filmmaker Goldeneye Media went global without going viral

In an era where we are used to having intimate access to the lifestyles of the rich and the famous via social media, a little privacy goes a long way. The public demands to know intimate details of their favourite celebrities' beauty routines, social lives, outfits and more.  But, aside from glimpses when publications get a p...

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Domain to sell MyDesktop for $14m

Domain to sell MyDesktop for $14m

Real estate listings company Domain (ASX: DHG) will offload a customer relationship management (CRM) platform that has been in its stable for more than a decade, as part of a plan to simplify operations in line with agent needs. Domain, which is majority owned by Nine Entertainment (ASX: NEC), has entered into an agreement to sell&nb...

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Record high for Adelaide industrial property sales

Record high for Adelaide industrial property sales

Property sales for industrial assets worth more than $5 million surged 73 per cent last year in Adelaide, with almost half the value coming from two transactions in particular. A report from Knight Frank attributes the record $452.56 million figure to a record low cash rate coupled with the abolition of stamp duty on commercial property. ...

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MMJ Group's growing portfolio of cannabis assets

MMJ Group's growing portfolio of cannabis assets

The following article is sponsored content in partnership with Finfeed. Business News Australia does not give financial advice.  There's little doubt the cannabis sector is primed for massive growth: legalisation continues across the globe, the benefits of cannabis and hemp are receiving greater recognition, and market acceptance...

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Brisbane shopping centre sold for $84.5m

Brisbane shopping centre sold for $84.5m

The Great Western Super Centre in the Brisbane suburb of Keperra has been acquired for $84.5 million. The sale marks the largest retail buy to date for new owners Consolidated Properties Group and CVS Lane Capital Partners, bringing the value of the pair's retail portfolio to $485 million. According to Consolidated Properties Grou...

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KGF airfreights beef to gridlocked Chinese market

KGF airfreights beef to gridlocked Chinese market

With the coronavirus Covid-19 outbreak leading to vessel restrictions in China, a premium cut of Australian beef is a rare find. But a producer-exporter from Queensland's Sunshine Coast is rising to the challenge by flying hundreds of tonnes of premium beef products to its Chinese operations. Kilcoy Global Foods (KGF) re...

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Coronavirus slams the brakes on Australian manufacturing

Coronavirus slams the brakes on Australian manufacturing

A key indicator for the health of the Australian manufacturing industry has seen better days as coronavirus Covid-19 impacts almost every major sector. The Australian Performance of Manufacturing Index (Australian PMI) fell 1.1 points to 44.3 points in February, the first full month of the year to experience the full force of the Covid-19...

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The Agency records third loss in a row

The Agency records third loss in a row

Despite completing a $10.5 million acquisition of real estate group Top Level at the beginning of 2019,The Agency (ASX: AU1) has recorded yet another half yearly loss. While the 1H20 loss was a slight improvement on its 2018 result of $1.95 million and its 2017 figure of $2 million, the real estate company is still $1.67 million in the re...

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CTM claims short seller VGI took advantage of Covid-19 uncertainty

CTM claims short seller VGI took advantage of Covid-19 uncertainty

Corporate Travel Management (ASX: CTD) has slammed a new report from short seller VGI Partners, accusing the company of taking advantage of market uncertainty caused by the novel coronavirus Covid-19. It has now been more than16 months since VGI launched a scathing attack on CTM alleging discrepancies between supplier payments and wages, ...

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Oliver's Real Food lifts result by $10 million

Oliver's Real Food lifts result by $10 million

Roadside convenience restaurant chain Oliver's Real Food (ASX: OLI) brought its EBITDA back into positive territory in the first half, despite fewer customers due to the effects of bushfires as well as a lower store count. The effects of founder Jason Gunn's return to the business and turnaround strategy were already felt by mid-2...

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Appeal means Brisbane flood victims may wait years for compensation

Appeal means Brisbane flood victims may wait years for compensation

The potential for millions of dollars in compensation is now in limbo for almost 7,000 victims from the 2011 Brisbane flood, after dam operators filed an appeal over a court decision finding them partly responsible for water damage.  State-owned enterprises Seqwater and Sunwater have lodged appeals against the NSW Supreme Court&...

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Brisbane builder Canstruct vies for Antarctic base project

Brisbane builder Canstruct vies for Antarctic base project

A family-owned Australian company hopes to be part of the first major revamp in 25 years for New Zealand's Scott Base research facility in Antarctica. Founded by Robin Murphy in the 1960s with a specialty delivering projects in remote locations, Brisbane-based Canstruct has been longlisted for Early Contractor Involvement (ECI) in the...

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Eco-friendly Events: 10 clever ways to green your next conference

Eco-friendly Events: 10 clever ways to green your next conference

From choosing a conference venue that uses renewable energy, to reducing food miles by championing local producers on the menu, there are many ways to reduce the carbon footprint of your conference. It's easy to get carried away when planning conferences, but corporate events can be wasteful affairs if you don't make conscious cho...

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Revenue doubles, losses halved for Bod Australia

Revenue doubles, losses halved for Bod Australia

Rapid medicinal cannabis prescriptions growth, new product launches and a UK expansion have lifted Bod Australia's (ASX: BDA) performance in the first half of FY20. The Sydney-based company saw its revenue almost double to $2.09 million, backed by strong growth from its medicinal cannabis division and consumer-focused CBD products bus...

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Jetstar suspends flights to South Korea

Jetstar suspends flights to South Korea

The novel coronavirus Covid-19 continues to derail travel plans after Jetstar announced last night it would be temporarily suspending a new direct flight service linking the Gold Coast with the Korean capital Seoul. The low-cost service was announced in May last year and flights began in December, but it will now be put on hold from 8 Mar...

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Nine Kaufland properties hit the market

Nine Kaufland properties hit the market

A portfolio of properties owned by Kaufland have come onto the market just over a month after the German hypermarket chain announced its shock exit from Australia. Colliers International has been appointed to sell the nine retail, industrial, and mixed-use sites across Victoria, Queensland and South Australia as part of the company's ...

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Our favourite venues for your next conference or event

Our favourite venues for your next conference or event

Choosing the right venue for your conference or event is never easy. The seemingly simple task of narrowing down options into a shortlist of primo venues can be daunting enough to be shoved right into the procrastination basket. After all that event is months away. You've got time? Right? Well, the sooner you get booking the s...

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Askable answers call for UX matchmaking

Askable answers call for UX matchmaking

Brisbane-based scale-up Askable is often referred to as an "Uber for user testing", its service attracting high-profile customers like Qantas, Accenture, Breville, CBS Sports and some of Australia's largest superannuation funds.  But the analogy doesn't quite cover the complexity of what Askable seeks to achieve.&nb...

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Expansion eats into NEXTDC profit

Expansion eats into NEXTDC profit

Data centre operator NEXTDC (ASX: NXT) has posted its second consecutive half yearly loss today as it invests a record amount in infrastructure development. The company posted a loss of $4.9 million in 1H20, $1.75 million worse than the same time last year. It comes as the group has been on a path of growth, with costs associated with...

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NetLinkz helps Beijing government get people back to work

NetLinkz helps Beijing government get people back to work

February has been a busy and very successful month for cloud network solutions group NetLinkz Limited (ASX: NET). NetLinkz is the creator of the Virtual Invisible Network (VIN), a globally patented network technology that allows organisations to quickly connect sites, devices and staff over the internet through a unique network solution t...

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Rainfall is berry good news for Costa Group

Rainfall is berry good news for Costa Group

Australia's largest horticultural company Costa Group (ASX: CGC) will have a lighter citrus crop this year and its Chinese berry farms may face challenges, but investors were encouraged this morning as the company showed signs of relief for two key growing areas. Costa announced it had hit its earnings targets with an NPAT-SL of ...

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Sales double for Afterpay, Zipco but losses mount

Sales double for Afterpay, Zipco but losses mount

Customer numbers have spiked for Australia's leading buy-now-pay-later (BNPL) operators Afterpay Group (ASX: APT) and Zip Co (ASX: Z1P), but the bottom line shows little sign of improvement for now. Afterpay's total income surged 96 per cent to $220.3 million in the first half while Zip Co notched a sharp rise of 103 per cent in r...

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Coronavirus forces Flight Centre to revise guidance

Coronavirus forces Flight Centre to revise guidance

Flight Centre (ASX: FLT) has confirmed its bottom line in FY20 will be significantly impacted by the outbreak of coronavirus Covid-19. The company now expects to lose potentially $100 million in earnings as a result, downgrading its outlook to $240-$300 million (previously $310-$350 million). The announcement follows a trading update ...

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AP Eagers divests refrigerated logistics business to free up debt

AP Eagers divests refrigerated logistics business to free up debt

Australia's largest automotive retailer AP Eagers (ASX: APE) has entered into a $100 million deal that will reduce its net debt by around $95 million. The company has sold its refrigerated logistics division to Sydney-based private equity firm Anchorage Capital Partners on a debt and cash free basis. AP Eagers acquired the refrige...

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Little Green Pharma secures German export deal

Little Green Pharma secures German export deal

The latest medicinal cannabis company to list on the ASX, Little Green Pharma (ASX: LGP), is off to a smoking start after obtaining a three-year export deal with a German cannabis giant. LGP has signed a purchase agreement for the sale, export, and distribution of its medicinal cannabis oil and dried cannabis flower to Berlin-based Deutsc...

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Cromwell Property Group profits up 59 per cent

Cromwell Property Group profits up 59 per cent

A $110 million fair value boost to Cromwell Property Group's (ASX: CMW) investments has prompted a 59 per cent jump in statutory profit for the first half. The $227.3 million result was also bolstered by Cromwell's 'invest to manage' strategy, with operating profit rising by 26 per cent to $134.1 million. Cromwell CEO ...

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Suitor pulls out of race for National Storage

Suitor pulls out of race for National Storage

The Hong Kong-based company that kicked off the bidding to buy National Storage REIT (ASX: NSR) has thrown in the towel after completing due diligence. Gaw Capital Partners (GCP) made a $2.20 per share offer in January, which was followed by a similar bid from New York-headquartered private equity firm Warburg Pincus. A US$40 bil...

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Like a Photon Creative releases first movie The Wishmas Tree

Like a Photon Creative releases first movie The Wishmas Tree

Apart from Bluey and Blinky Bill, very few children's animated productions have come out of Australia for international release in recent years. Today that's about to change, with homegrown and local female-owned Like a Photon Creative (LAPC) releasing its first film The Wishmas Tree in 17 countries worldwide. Over the pa...

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