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Coles starts trading on the ASX

Coles starts trading on the ASX

After an 11-year absence due to its incorporation with Wesfarmers (ASX: WES), one of country's leading supermarkets is back on the Australian Stock Exchange. Shares in Coles Group (ASX: COL) started trading today following a decision from the Supreme Court of Western Australia on Monday to approve a Wesfarmers shareholder vote in...

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Harold Mitchell resigns on ASIC's Tennis Australia probe

Harold Mitchell resigns on ASIC's Tennis Australia probe

The chairman of Free TV Australia Harold Mitchell has been "forced" to resign following allegations made by the Australian Securities and Investment Commission (ASIC) about his involvement with Tennis Australia. Mitchell revealed news of the acrimonious departure in a brief statement. "It is with regret that I have been...

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Reject Shop receives "opportunistic" $78m takeover bid

Reject Shop receives "opportunistic" $78m takeover bid

It has been a rough two months for discount retail chain The Reject Shop (ASX: TRS). In October, the company's shares fell 35 per cent in one day in response to a bleak trading update from the company. The dive was off the back of the company announcing it was unlikely to hit its profit guidance of $17.7 million for the first half...

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Our 'failures' hindered police enforcement of major crime, CBA boss admits

Our 'failures' hindered police enforcement of major crime, CBA boss admits

Police and law enforcement authorities were unable to disrupt money laundering by drug and firearm syndicates because of Commonwealth Bank's "failures", according to CBA CEO Matt Comyn. At the banking royal commission on Tuesday, Comyn made the dramatic admission that the contraventions were extremely serious. CBA paid a...

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RCR Tomlinson faces class action over share plunge

RCR Tomlinson faces class action over share plunge

Engineering and infrastructure company RCR Tomlinson Limited (ASX: RCR) is facing a class action in the NSW Supreme Court from aggrieved shareholders after it suffered a massive share price plunge in August. Litigation firm Quinn Emanuel Urquhart & Sullivan filed the class action proceedings with financing from Burford Capital, a glob...

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Freelancer.com moves into freight business with acquisition

Freelancer.com moves into freight business with acquisition

Freelancing and crowdsourcing business Freelancer Limited (ASX: FLN) has moved into the freight and logistics market with the acquisition of Channel 40, an enterprise marketplace connecting freight owners with transport operators. With the acquisition, the company announced the launch of Freightlancer.com, a global marketplace for freight...

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Staying ahead of the competition as a CFO

Staying ahead of the competition as a CFO

The role of the CFO in modern business is facing more pressure thanks to the increased importance of data collection, fierce competition from rivals and the need to modernise workplaces, according to a leading Australian analytics consultancy. Brisbane-based Bistech has released a report which shows there may be no position under more pre...

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"Premier Investments should be ashamed": Myer finally breaks its silence

"Premier Investments should be ashamed": Myer finally breaks its silence

After a few weeks of Premier Investments chairman Solomon Lew berating Myer (ASX: MYR) for its poor performance the department store has broken its silence. As part of its letter to its shareholders urging voters to side with the retailer over Lew, the department store chain has finally spat some venom Lew's way. Chairman of Myer ...

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No earnings guidance from Blue Sky with board change underway

No earnings guidance from Blue Sky with board change underway

The outgoing chairman of Blue Sky Alternative Investments (ASX: BLA) is confident restructuring efforts will help deliver returns, but unlike in previous years the company has not given any earnings guidance for FY2019 at today's annual general meeting (AGM). Chairman John Kain (pictured), who will be replaced by former Hastings Funds...

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ASIC to take on Harold Mitchell for his involvement in Seven's tennis deal

ASIC to take on Harold Mitchell for his involvement in Seven's tennis deal

Former director of Tennis Australia and prominent media figure Harold Mitchell is in the firing line of the corporate watchdog. The Australian Securities and Investment Commission (ASIC) alleges that Harold Mitchell and former Tennis Australia president Stephen Healy mislead the Tennis Australia board to ensure the Seven Network would get...

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Fairfax Media shareholders approve $4 billion merger with Nine

Fairfax Media shareholders approve $4 billion merger with Nine

Historic Australian media company Fairfax Media will be no more now that shareholders have approved a $4 billion "merger" with Nine Entertainment. The merger brings the total number of major media organisations in Australia down from five to four, and heralding in the era of mega-media conglomerates with a say in every medium. ...

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Myer shares tumble again as Solomon Lew says Christmas won't save them

Myer shares tumble again as Solomon Lew says Christmas won't save them

With the Myer AGM just under two weeks away, you can be sure to expect that Solomon Lew and Premier Investments will be gearing up their attacks on the historic retailer. Following the department store's bewildering Friday last week, the result of a leak to The Australian Financial Review about its Q1 sales numbers, Premier Investment...

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NAB boss takes big pay cut as bank admits to 'failing its customers'

NAB boss takes big pay cut as bank admits to 'failing its customers'


NAB (ASX: NAB) chief executive Andrew Thorburn has taken a $2 million pay cut as the bank admitted to "failures" in its treatment of customers which have "impacted NAB's reputation" which was revealed at the banking royal commission. Thorburn's remuneration was slashed by more than 30 percent from $6.5 milli...

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Rebel Wilson's legal battle is over after being dismissed from the High Court

Rebel Wilson's legal battle is over after being dismissed from the High Court

Rebel Wilson says she is happy that her long legal bout with Bauer Media is over despite stumbling at the final appeal in the High Court today. The actress failed in her bid to appeal her case regarding defamation damages in the High Court this morning, bringing the lengthy saga to a close. The appeal followed a court order for Wilson...

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Myer in trading halt after responding to media criticism

Myer in trading halt after responding to media criticism

Shares in troubled retailer Myer (ASX: MYR) have been placed in a trading halt as it prepares its response to allegations that it breached its continuous disclosure allegations. Myer will remain in a trading halt until Monday, and earlier on Friday it released a brief statement to the market saying it had requested the halt as it prepares...

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THC Global continue their expansion in Canada with new growing facility

THC Global continue their expansion in Canada with new growing facility

When recreational cannabis was legalised in mid-October this year in Canada certain Australian companies were masterfully poised to take full advantage of the booming market. THC Global (ASX: THC) saw this new trend a mile off and is one of the few Australian businesses really starting to dominate the fresh industry. Its domination of...

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Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

It started with free seminars and "boot camps" teaching people how to get rich quick. Buy a house with no need for a deposit, quit your job and you'll be set for life, participants were told.  But what We Buy Houses Pty Ltd and its sole director Rick Otton (pictured) were claiming really was too good to be tru...

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G8 Education shares surge on positive outlook

G8 Education shares surge on positive outlook

Shares in childcare services company, G8 Education (ASX: GEM) have surged more than 10 per cent after the company reported earnings for the 2018 calendar year were roughly in line with expectations. Ahead of the company's annual investor day presentation, G8 Education forecast its earnings before interest and tax (EBIT) will be in the...

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Blackstone buys up industrial Sydney properties in Smeaton Grange

Blackstone buys up industrial Sydney properties in Smeaton Grange

One of the world's leading real estate investors has acquired four properties on the outskirts of Sydney for $50 million, representing one of just a few industrial transactions in the city's outer south west in recent months. Blackstone secured the properties spanning a total warehouse area of approximately 29,500sqm in an of...

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Uber's growth stalls ahead of planned IPO

Uber's growth stalls ahead of planned IPO

Ride-hailing and delivery giant Uber Technologies has revealed losses in excess of US$1 billion in the three months to 30 September as its growth continues to stall. Uber has reported growth in its bookings has risen by just six per cent in the quarter, which is its third quarter in a row of single-digit growth. The US$1.07 billi...

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Brand affection not enough for Roger David: All stores to close within weeks

Brand affection not enough for Roger David: All stores to close within weeks

An Australian retail legacy is set to vanish from the business landscape as Roger David prepares to close its remaining 57 stores well before Christmas. The chain, which employs 300 people full-time as well as 200 casuals and part-time staff, was unable to entice buyers in a four-week process. Administrator Craig Shepard of KordaMenth...

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Deloitte: Online to be key retail "battlefield" this Christmas

Deloitte: Online to be key retail "battlefield" this Christmas

Australian retailers have a healthy dose of Christmas cheer as they hurtle towards the year's busiest trading period, with a Deloitte survey showing 80 per cent expect improved year-on-year sales. Confidence has been buoyed by strong product mixes, while investments in omni-channel business models have made traders bullish on online s...

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Ausmetal's camping expansion pays off with US exports

Ausmetal's camping expansion pays off with US exports

What started as a spin-off has become the leading source of income for Ausmetal Engineering, riding on the roof of a fast-growing off-road camping industry.  Since securing a North American distribution deal with Colorado-based Sloop Imports a few months ago, the Brisbane company has now made three air-freight export shipments of its...

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Government announces $2b injection for small business

Government announces $2b injection for small business

The Federal Government is offering a leg up to around three million small businesses in Australia through the creation of a $2 billion fund that will be channelled through loans to small banks and non-bank lenders. The Australian Business Securitisation Fund is expected to improve competition in the business loan market, where borrow...

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Robot builds home structure in less than three days

Robot builds home structure in less than three days

Shares in Fastbrick Robotics (ASX: FBR) have risen 15 per cent this morning after the Perth-based group came out of a trading halt to announce the "most significant technical milestone to date" for its Hadrian X automated construction programme. The company announced it had successfully demonstrated its home building roboti...

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Medicinal cannabis access to get a whole lot easier in Queensland

Medicinal cannabis access to get a whole lot easier in Queensland

After the Federal Government made it legal to consume cannabis for medicinal purposes two years ago, significant strides have been made to make access easier. Serious developments in the research and cultivation of cannabis for medicinal purposes have been made by private and public companies in the years since. However, the issue of ...

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Blue Sky stands by Pinnacle deal after Wilson ups the ante

Blue Sky stands by Pinnacle deal after Wilson ups the ante

Wilson Asset Management (ASX: WAM) has raised the stakes in its bid to run Blue Sky Alternative Investments' (ASX: BLA) alternative access fund, but the embattled company has been unswayed. WAM has offered a fee-free period for BLA-managed assets as well as an expansion of the scope of its services to match those of Alterum, the name ...

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Amazon Australia launches local storefront for home-grown labels

Amazon Australia launches local storefront for home-grown labels

A year after touching down in Australia, Amazon has launched a new fashion shopfront packed with Aussie labels and designers. Called The Local Fashion Store, the curated selection of over 150 brands includes players like Local Supply, Lorna Jane, Review, Gazman, Rip Curl and Crumpler. Head of Amazon Fashion Australia Angela Langmann s...

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NEXTDC taps in to 9,000km cable thanks to Superloop deal

NEXTDC taps in to 9,000km cable thanks to Superloop deal

Data centre operator NEXTDC (ASX: NXT) is set to benefit from higher speeds thanks to a deal with Superloop (ASX: SLC) that will see it plug into consortium INDIGO's 9,000km international fibre cable project. Under the terms announced today, Superloop will provide NEXTDC's data centres in Perth (P1 and P2) and Sydne...

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Fleet Space sends Australia's first commercial mini-satellites into orbit

Fleet Space sends Australia's first commercial mini-satellites into orbit

In the lead-up to a launch with Elon Musk's SpaceX in the coming weeks, Adelaide-based Fleet Space Technologies has achieved a national first by sending up Australia's first ever commercial CubeSat satellites. The two satellites Proxima I and II were recently launched onboard a rocket from US-owned New Zealand company Rocket Lab. ...

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