Oscar Wylee accused of misleading customers about donating glasses to charity

Youth-leaning eyewear company Oscar Wylee has been taken to the Federal Court by the Australian Competition and Consumer Commission (ACCC) for allegedly misleading customers. The allegations revolve around a campaign run by Oscar Wylee during which the eyewear company said it would donate a pair of glasses to someone in need every time a ...

Federal Government to crack down on tech giants

A $27 million investment into the ACCC and a brand new code of conduct are part of the Federal Government's raft of reforms intended to crack down on unregulated American tech giants. The reforms come in response to the Australian Competition and Consumer Commission's (ACCC) Digital Platforms Inquiry, which slammed tech heavyweigh...

Asahi and Carlton & United Breweries merger raises red flags for watchdog

Asahi's proposed acquisition of Belgium-owned, Melbourne-based Carlton & United Breweries (CUB) is under the Australian Competition and Consumer Commission's (ACCC) microscope. The watchdog says it has preliminary concerns about the proposed merger, with the preliminary view that the acquisition would reduce competition in the...

Aerial mapper Nearmap acquires US roof geometry tech for $5m

Australian aerial mapping company Nearmap (ASX: NEA) is upping the ante on its location intelligence offering with the purchase of technology and IP from US-based Pushpin for US$3.5 million (AUD$5 million). The move comes as the technology company seeks to cement its position following record portfolio growth in FY19 to reach $9...

Medlab breaks new ground in the UK

Listed medicinal cannabis player Medlab Clinical (ASX: MDC) has signed an exclusive distribution agreement with Cultech to break into the UK market. Cultech, a premium manufacturer in the nutritional supplement industry, will distribute two of Medlab's flaghship products in the country. One of those two products is Medlab's Na...

170-year-old retailer Harris Scarfe falls into receivership

Neither a longstanding legacy nor a nation-leading customer satisfaction rating amongst department stores were enough to save the chain from its fate.  An iconic South Australia-headquartered retailer with annual sales of $380 million has today been placed in receivership, joining a long list of bricks-and-mortar chains to bite the d...

Cybersecurity warriors bag $70m from US investors

Major US investors have poured $70 million into Sydney-based cybersecurity company Secure Code Warrior as part of a Series B funding round. The raise was led by US juggernauts Goldman Sachs, ForgePoint Capital, and Cisco, with additional capital injected by existing investors Sydney-based AirTree Ventures and US-based Paladin Capital Grou...

Terragen finds ground on ASX with biological ag solutions

From fortified foods to increased demand for organic products, consumers are increasingly concerned about gut health and the impacts of pesticides on the soil where crops are grown. The organic movement has even been positive for conventional farmers who have incorporated organic and biological techniques into their growing methods, ...

Nitro Software blasts onto the ASX

Document management software developer Nitro has landed on the ASX today following a $110 million IPO. The company, which owns PDF productivity and eSignature tool Nitro Productivity Suite, will list under the ticker NTO. At the IPO listing price Nitro Software (ASX: NTO) has a market capitalisation of $324.9 million and an enterprise...

MoneyMe launch virtual credit account ahead of listing

Fintech MoneyMe will list on the ASX tomorrow, but that hasn't stopped the company from making one last announcement as a private company. The group has launched a product called Freestyle, a virtual credit account, which MoneyMe hopes will replace the need for a physical credit card. Freestyle allows users to use their smartphone...

Cann Global snags exclusive rights for Olivia Newton John's cannabis formulations

Olivia Newton John's (pictured) very public struggle with breast cancer gathered a lot of attention from the global media, especially because of her unconventional approach to overcoming the illness. Newton John famously took a holistic approach to her stage 4 metastatic breast cancer, using cannabis in conjunction with her convention...

Investors thirsty for ASX debutante Nuchev's goat milk infant formula

Founded by Synlait co-founder Ben Dingle (pictured), Nuchev (ASX: NUC) currently sells its product into Australia, China and Hong Kong. Another infant formula player has launched on the ASX today, with Nuchev (ASX: NUC) joining the likes of A2 Milk (ASX: A2M), Bellamy's (ASX: BAL), Wattle Health (ASX: WHA) and Bubs Australia (ASX: BUB...

Beacon Lighting powers down energy solutions business

Beacon Lighting (ASX: BLX) has announced the winding up of its energy solutions business and the sale of its Brisbane distribution centre, marking a major strategic shift for the company. The closure related to the company failing to maintain a sustainable energy solutions company, according to Melbourne-based Beacon whose primary busines...

Global travel demands lead to A2 Milk boss resignation

The CEO of the a2 Milk Company (ASX: A2M) has resigned as the company continues to grow and succeed overseas. Managing director and CEO Jayne Hrdlicka has agreed to step down from her role and will be replaced on an interim basis by former CEO Geoffrey Babidge. Over the last 18 months Hrdlicka has driven the company's internationa...

LandMark White rebrands as Acumentis

Following a disastrous 2019 during which LandMark White (ASX: LMW) was hit with not one but two data breaches, the property valuer has decided to rebrand. Say goodbye to LandMark White and welcome to the stage: Acumentis. The group says the new name has been derived from two Latin words; acumen (meaning a keen insight and sharpness in...

Coles to pay Norco dairy farmers $5.25 million after allegedly misleading consumers

Norco Co-operative Limited (Norco) dairy farmers will receive $5.25 million from Coles (ASX: COL) after the supermarket giant failed to pass on a 10c per litre price rise. The payment to Norco follows an investigation by the Australian Competition and Consumer Commission (ACCC) into whether Coles fully passed on to Norco a 10c per litre p...

Carlton United Breweries pours itself a tall glass of Balter

Carlton United Breweries (CUB) has nabbed itself another craft brewery with the acquisition of Gold Coast-based Balter. The acquisition for an undisclosed sum will see Balter join the CUB family alongside fellow formerly 'indie' beer labels like Goose Island, Wild Yak, Pirate Life and 4 Pines. CUB is estimated to have almost a...

Afterpay reports record sales, bringing in $1 billion during November

Buy-now pay-later (BNPL) provider Afterpay (ASX: APT) has finally hit the $1 billion mark, signifying the platform's strongest month of sales since its inception. The $1 billion of monthly underlying sales was buoyed by the Black Friday and Cyber Monday sales, which Afterpay says were record trading days for the company. The recor...

Megaport to raise $62m for network expansion

Fast-rising cloud technology company Megaport (ASX: MP1) has announced a $62 million capital raise to boost its funding arsenal for accelerating expansion into new markets. The Brisbane-based company, which provides interconnection services between cloud networks, will also use the funds for capacity upgrades, working capital requirements...

Caason Group partners with Hemp Farms Australia to build local hemp supply chain

The emerging hemp sector in Australia is becoming big business, but without an adequate local supply chain the industry risks becoming too reliant on international imports. A new partnership between an agricultural investment group and Australia's major hemp cultivars is looking to change that status quo. Hemp Farms Australia (HFA...