Canada's marijuana legalisation a boon for Aussie companies

While Australia may be known globally for its pioneering spirit in sectors like mining, medical research, water management and technology, our local cannabis industry is being cultivated as the next frontier for savvy entrepreneurs.  The incoming trend is no more apparent than the significant and serious investment Australian cannabi...

Catch Group acquires new warehouse in Melbourne

Major e-commerce player Catch Group has announced a new warehouse and chairman as it positions for growth. Leading online retailer Catch Group is on track to doubling its capacity after securing a new 22,000 sqm warehouse close to its current facilities in Truganina, Melbourne. In a release, the company says that with additional mezza...

Default deals parting blow to 360 Capital in NEXTDC saga over APDC

After already dropping its price to get the Asia Pacific Data Centre Group (APDC) saga over and done with, former majority shareholder 360 Capital may end up losing a $1.55 million perk included in NEXTDC's (ASX: NXT) takeover deal. NEXTDC completed the takeover on Friday to bring its holding in APDC up to almost 98 per cent...

Optus faces $10m in penalties for allegedly misleading customers

The Australian Competition and Consumer Commission (ACCC) is looking to hit Optus with $10 million in penalties after the telco allegedly mislead customers in relation to its third-party billing service. The ACCC's investigation uncovered that from April 2014 Optus' third-party billing service (known as 'Direct Carrier Billing...

NAB sets aside $314m for customer compensation

NAB (ASX: NAB) is the latest bank to set aside a large swathe of cash to compensate its customers. In total, NAB will set aside $314 million for refunds and compensation for issues including adviser services fees and plan service fees. As part of the compensation, $53 million is related to discontinued operations. The costs associ...

Black Hops Brewing to turn the tap on new growth chapter

Its young entrepreneur founders have shown talent in producing craft beer for local sales, but the next step in Black Hops' evolution will require mastering the craft of scale.  After winning the "Oscars for Beer" this year, the Gold Coast's Black Hops Brewing is frothing over a new facility that's set to open i...

Solomon Lew slams Myer board for slow pull-out from "disastrous" discounting

Just over a month after calling for Myer (ASX: MYR) chairman Garry Hounsell to step down, the retailer's largest shareholder is on the attack again over the legacy icon's reticent approach to shutting down clearance floors. Premier Investments (ASX: PMV) has expressed alarm today over media reports in The Australian that the ...

Vet visionary proves top dog at Gold Coast Young Entrepreneur of the Year Awards

Pet owners know the struggle of getting your beloved family member to see the vet, but Tomas Steenackers is easing the burden on animal lovers across the country. The National Veterinary Care (ASX: NVL) founder took out top honours at the 2018 Business News Australia Gold Coast Young Entrepreneur of the Year Awards, held at QT Gold Coast ...

NEXTDC completes takeover of APDC Group

The long-running battle for control of Asia Pacific Data Centre (APDC) has come to an end with NEXTDC announcing it has completed its takeover of the data centres. NEXTDC now has control of 97 per cent of the securities in APDC, paying $2 per security for the remaining shares on offer. As a result of having an interest in APDC of over...

MGC Pharma gets green light for cannabis-based epilepsy drug

Listed medicinal cannabis company MGC Pharma (ASX: MXC) has reached another milestone in its mission to become a world-leading pharma company with the release of its new epilepsy drug. Called CannEpil, the drug is now available for supply in Australia through specialist prescribers under the Authorised Prescriber Scheme. Authorisation...

Centuria snaps up $521m in office properties

Real estate trust Centuria Metropolitan REIT (ASX: CMA) has entered unconditional agreements to acquire $520.9 million worth of office properties in Melbourne, Brisbane and Sydney from Texan outfit Hines Global. CMA will spend $500.9 million on the four properties with a $20 million contribution from affiliated entity Centuria Capital Gro...

Dreamworld to be sued by first responders to tragedy

The four first responders who arrived at the grisly scene following 2016's Thunder River Rapids tragedy at Dreamworld will sue parent company Ardent Leisure alleging psychological injuries. Safety officers John Clark, Shane Green and Rebecca Ramsey, as well as engineer Paul Burke, will file a statement of claim against Dreamworld. ...

MNF Group acquires spare parts of Inabox Group for $30m+

Communications specialists MNF Group (ASX: MNF) have acquired certain parts of Inabox Group's (ASX: IAB) sprawling business. The agreement, worth between $30.5 and $33.5 million depending on how earn out conditions are met, will see MNF acquire the wholesale and enablement businesses from Inabox Group. The business being acquired ...

Listed healthcare companies team up for cannabidiol skin care products

Two listed health and skin care companies have entered into a partnership to develop a range of natural cannabidiol skin care products. Skin Elements Limited (ASX: SKN) and Affinity Energy and Health Limited (ASX: AEB) have entered into a memorandum of understanding (MoU) to pursue the application of Affinity's algae biomass and oils,...

Global investment firm proposes to buy MYOB

Online business management solution MYOB (ASX: MYO) has commenced the process of selling to global investment firms KKR & Co (KKR). KKR has made a proposal to MYOB to acquire all the shares it currently doesn't already own by way of a scheme of arrangement. The scheme follows this morning's announcement that KKR has acquir...

Shine's class actions division grows with acquisition of ACA Lawyers

Listed law firm Shine Corporate (ASX: SHJ) will spread its class action division further into New South Wales with the acquisition of ACA Lawyers. ACA Lawyers are a specialist class action firm, with expertise in litigation and dispute resolution. Shine's acquisition was effective from the 1st October, and the firm says it will be...

More than 50 new Taco Bell stores to open around Australia

It's a staple of the American diet, and soon more of Australia will get to bite into a burrito from the world-famous Taco Bell. The operator of Taco Bell in Australia, Collins Foods (ASX: CKF), has announced it will be opening more than 50 new Taco Bell restaurants across multiple states in Australia in 2019. The rollout process w...

GO1: The tech tiger that changed its stripes

With financial backing from the likes of Steve Baxter, SEEK, Oxford University and Y Combinator in Silicon Valley, e-learning company GO1 has helped provide workplace training to more than a million people globally with its aggregated online service. And its founders aren't even 30 yet. Vu Tran (pictured left) and Andrew Barn...

Max Brenner enters voluntary administration

Decadent chocolatier Max Brenner has announced it has gone into voluntary administration. The dessert chain cited rising costs and tough retail landscape as the reason behind the decision. McGrathNicol has been appointed as administrated to undertake a review of the business, with a meeting of creditors to occur within the coming days...

Vicinity sells 10 centres for $573m to SCA Property Group

SCA Property Group (ASX: SCP) will become Australia's leading owner and manager of convenience-based shopping centres after picking up 10 assets from Vicinity Centres (ASX: VCX) for $573 million. The sale forms part of Vicinity's plans to divest non-core sub-regional and neighbourhood shopping centre assets as it shifts attention ...