Australian venture capital smashes records in FY19

Australian venture capital smashes records in FY19

Australia's venture capital investments would have passed the $2 billion mark had Judo Bank's $400 million plus raising crossed the line on time. A recent report from KPMG shows venture capital investment in Australian startups is alive and well with US$1.23 billion (AUD$1.75 billion) raised in FY19. Amanda Price, KPMG Austral...

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Challenger bank Archa avoids dirty word for Gens Y & Z

Challenger bank Archa avoids dirty word for Gens Y & Z

The founder of Australian challenger bank Archa has his sights set on launching the company's first products to customers next quarter, but the plan is to "avoid the word bank wherever possible". Speaking on a blockchain, AI and robotics panel at Gold Coast Business Week, Archa founder and CEO Oliver Kidd discussed a busines...

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Noni B continues to defy retail gloom

Noni B continues to defy retail gloom

As its competitors bemoan the state of Australian retail Noni B has once again bucked the trend in its latest trading update. The group expects to announce underlying earnings of $45 million for FY19, in line with its previously announced guidance and up 21 per cent on FY18. Noni B is the parent company of major Australian retail bran...

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Retail Food Group brushes ASX concerns under the rug

Retail Food Group brushes ASX concerns under the rug

The franchise operator of Brumby's Bakery, Michel's Patisserie, and Gloria Jeans, Retail Food Group (ASX: RFG), has responded to the concerns of the ASX regarding a sudden and unexpected lift in shares last week. RFG said last week that the sudden lift in shares can be attributed to media speculation about its turnaround strategy....

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ASIC slams banks for "extremely poor" consumer credit insurance

ASIC slams banks for "extremely poor" consumer credit insurance

Australia's major banks have come under fire from the Australian Securities and Investment Commission (ASIC) for the sale of consumer credit insurance (CCI) that has "consistently failed consumers". In its latest report on CCI, Report #622, ASIC says that CCI products sold by 11 of Australia's major banks are of poor val...

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