Articles

Crown caught tampering with pokies and fined $300k

Crown caught tampering with pokies and fined $300k

Notorious gambling giants Crown (ASX: CWN) have been fined $300,000 by Victoria's gambling regulator after being caught tampering with poker machines. The casino was found to have been hiding certain buttons on 17 gaming machines over a three-and-a-half week period during March and April 2017 so only minimum and maximum betting option...

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THC shares soar following acquisition of Southport refinement facility

THC shares soar following acquisition of Southport refinement facility

The Hydroponics Company (ASX: THC) had a big day on the share market on Thursday after it announced its acquisition of a new Southport based refinement facility. Shares in THC soared after the medical marijuana company acquired one of the largest pharmaceutical plant extraction and refinement facilities in the southern hemisphere. The...

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Redflow to raise $18m to boost battery sales

Redflow to raise $18m to boost battery sales

Brisbane based battery manufacturer Redflow (ASX: RFX) is set to raise $18.1 million in equity capital to rapidly scale up the manufacture and sales of its battery systems. The company will raise the funds through a combination of a $7.5 million placement to new investors and a $10.6 million fully underwritten rights issue offered to all ...

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Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia has confirmed it is the fastest growing independent business news website, by more than doubling its unique visitors and total page views over the past month. The total number of unique visitors to www.businessnewsaus.com.au rose to 55,600 for the month of April, which is up by 108 per cent from the previous month....

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GetSwift announces board shakeup to 'address governance'

GetSwift announces board shakeup to 'address governance'

Embattled logistics software company GetSwift (ASX: GSW) has announced a board shakeup with executive chairman Bane Hunter to take over as CEO from Joel McDonald and the appointment of two new board members as it "develops its governance practices as it grows". Michael Fricklas and David Ryan will be independent non-executive di...

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Silver Chef outlines business transformation following GoGetta exit

Silver Chef outlines business transformation following GoGetta exit

Silver Chef (ASX: SIV) has outlined a major business transformation following its exit from the GoGetta business which it blamed for its first half loss of $13 million. The hospitality services provider announced in February that it was exiting the GoGetta business following a strategic review. Silver Chef has written to shareholders ...

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ACCC: Airport "monopolies" are forcing up the price of air travel

ACCC: Airport "monopolies" are forcing up the price of air travel

Australian travellers are being slugged higher ticket prices for air travel thanks to what has been described as monopolistic behaviour from airports. The Australian Competition and Consumer Commission (ACCC) says passengers are paying higher ticket prices as a direct result of a rise in profits per passenger at each of the country's ...

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Blockchain technology drives demand for skilled business and IT leaders

Blockchain technology drives demand for skilled business and IT leaders

Less than 10 years ago very few people were aware of what cryptocurrency was, let alone understand the technology that was driving it, and now it's an industry that is hurtling towards being valued at $400 billion internationally as new "cryptos" are launched each month. Bitcoin was the trailblazing cryptocurrency which was ...

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iSelect slashes guidance as shares plummet and CEO resigns

iSelect slashes guidance as shares plummet and CEO resigns

Comparison website iSelect (ASX: ISU) has slashed its earnings guidance by more than 60 per cent, sending its share price tumbling as the company's CEO Scott Wilson resigned immediately. The company cut its underlying earning expectations for 2018 to between $8 million and $12 million for the full year, well down on its previous guida...

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Childcare centre sells for record $21m as confidence in sector is restored

Childcare centre sells for record $21m as confidence in sector is restored

A childcare centre in Artarmon has sold for a record $21 million, which marks the largest sale of a single tenanted childcare property in the country. The sale of the three-storey centre at 6 Clarendon Street was negotiated by CBRE and attracted a yield of 6 per cent. The property is currently tenanted by Affinity Education Group and ...

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Building a brilliant career: inside one woman's dream to create a new city

Building a brilliant career: inside one woman's dream to create a new city

'What is your dream?' A question often asked and answered in similar ways; I want to buy a house, travel overseas or find the perfect job. Ask Raynuha Sinnathamby the same question, the answer goes a little bit further. "We have aspirations to build a new city," she says. As managing director of the Springfie...

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Serial restaurateur parts with iconic Justin Lane business

Serial restaurateur parts with iconic Justin Lane business

The entrepreneur behind Justin Lane, one of the most recognisable and popular venues on the Gold Coast, has sold the business after seven years. Adam Haralampou (pictured right) has owned and operated several of the Gold Coast's hottest venues including The Cavern, Mr Bengel and Harry's Steak Bistro and Bar. Justin Lane, howev...

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Blue Sky MD and executives resign in the wake of Glaucus saga

Blue Sky MD and executives resign in the wake of Glaucus saga

A number of high profile personnel at Blue Sky Alternative Investments (ASX: BLA) have resigned in the wake of the Glaucus report which wiped out the company's share price. Robert Shand, managing director, has resigned and will be replaced by interim managing director Kim Morison. Executive directors Elaine Stead and Nicholas Dign...

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AMP faces class action over Royal Commission scandal

AMP faces class action over Royal Commission scandal

Less than a week after the resignation of its CEO Craig Meller, AMP is facing a potential class action lawsuit from Quinn Emanuel Urquhart & Sullivan (QE) on behalf of aggrieved shareholders. QE announced that it will investigate a class action against the financial services giant which has admitted to lying to its customers and regul...

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Kogan grows revenue 46 per cent on diversification

Kogan grows revenue 46 per cent on diversification

Kogan.com (ASX: KGN) is in a strong position to close out the financial year after revealing today that it's third-quarter revenue increased by more than 46 per cent. The online retailer ended 3Q18 with an unaudited gross transaction value growth of 49.8 per cent and a customer base exceeding 1.28 million active shoppers. Although...

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How a Sydney startup managed to corner the Chinese market in months

How a Sydney startup managed to corner the Chinese market in months

Koala Eco only launched in 2017, but already the brand has found its place in the coveted Chinese market. Founded by husband and wife team Jessica Bragdon and Paul Davidson, Koala Eco is a 100 per cent Australian made line of eco-friendly cleaning products. Emblazoned with Australian flora and fauna, Koala Eco products are safe for the en...

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The biggest mistakes an entrepreneur can make, and how to avoid them

The biggest mistakes an entrepreneur can make, and how to avoid them

I am often asked by entrepreneurs, "how much profit should my business be making?" My answer is always the same: It depends. It depends because I don't know how much money is invested in the business in the first place. The amount of capital invested has a significant influence on how much profit is enough. Unfortunatel...

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Influencing the world is all in a day's work for this young entrepreneur

Influencing the world is all in a day's work for this young entrepreneur

Ever wondered how those beautiful people on Instagram score major deals with Australia's biggest brands? Well, meet Genevieve Day, the woman who transforms fledgling social media accounts into booming businesses. At just 26 years old, Day runs her own marketing business called Day Management. Unlike traditional marketing firms, Day...

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Atlassian revenue surges on new customer boom

Atlassian revenue surges on new customer boom

Productivity software powerhouse Atlassian (NASDAQ: TEAM) has recorded a strong quarter, buoyed by a surge of new customers and the success of 'Team Tour', its latest global initiative. Founded by young Aussie entrepreneurs Mike Cannon-Brookes and Scott Farquhar, the company recorded a quarterly revenue of $223.7 million up by 40 ...

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AMP boss steps down following admissions to the royal commission

AMP boss steps down following admissions to the royal commission

The CEO of AMP (ASX: AMP) Craig Meller has resigned following revelations about AMP's conduct at the financial services royal commission. Meller stepped down after AMP admitted to charging customers for advice they never received and then lying to ASIC about it. The AMP boss, who was due to retire at the end of 2018, says he is &q...

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APDC launches lawsuit against NEXTDC

APDC launches lawsuit against NEXTDC

The ongoing saga between NEXTDC (ASX: NXT) and the Asia Pacific Data Centre Group Limited (APDC) (ASX: AJD) has come to a head. It was revealed on Thursday morning that APDC has initiated legal proceedings against NEXTDC in relation to a dispute over APDC's claimed "ongoing access rights" at three of NEXTDC's data centre...

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How the founders of Sneaker Laundry are cashing in on the 'hype economy'

How the founders of Sneaker Laundry are cashing in on the 'hype economy'

Forget supply and demand, the economy of sneakers is all about hype.  Whether it's the new Nikes, the latest Adidas or obscure luxury labels, the sneaker economy is in its prime, especially in fashion forward cities like Melbourne. In addition to being a hub of startup activity, Melbourne is also widely considered to be the f...

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Creso to launch cannabis infused beer and tonics line

Creso to launch cannabis infused beer and tonics line

Australian-Swiss cannabis company Creso Pharma (ASX: CPH) has announced its new line of cannabis infused beers and tonics is in production. The beverages are being developed through Creso's joint venture partners Baltic Beer Company and LGC Capital. The drinks, which are currently brewing in Creso's newly built European facili...

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Business News Australia joins the Vinnies CEO Sleepout

Business News Australia joins the Vinnies CEO Sleepout

For more than a decade Vinnies has run the annual CEO Sleepout, a national campaign to fight the issue of homelessness. Each year on the longest night of winter, many of the nation's top executives sleep out on the concrete to raise much needed funds for Aussies who desperately need it. For participants, it is one night of discomf...

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After 60 years, legacy property in Melbourne CBD sells for $95m

After 60 years, legacy property in Melbourne CBD sells for $95m

One of the largest office buildings on St Kilda Road in Melbourne has changed hands for the first time in six decades. A subsidiary of Abacus Property Group and Wing Tai Holdings bought the property known as VACC House, an eight-level building at 464 St Kilda Road, for $95.38 million. The building includes more than 13,800sqm of offic...

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Coconut vodka and coffee scrub entrepreneur spills the beans on viral success

Coconut vodka and coffee scrub entrepreneur spills the beans on viral success

If you haven't heard of Hamish Buckley (pictured), chances are you've heard of his products. Buckley is the man behind wildly popular Aussie brands like Bean Body, Coco Vodka, and Mr Bright. Three brands which have tamed the social media beast to generate huge business. Buckley never intended to create viral and 'totally Insta...

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State Government proposes another extension to the Gold Coast light rail

State Government proposes another extension to the Gold Coast light rail

With the Commonwealth Games done and dusted, the Queensland State Government is considering extending the G:Link light rail system again. The next stage, "stage three", will be considered by the government in early 2019. The preferred extension runs approximately seven kilometres down the centre of the Gold Coast Highway bet...

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Breaking new ground: Zelda to test effects of cannabis on diabetic dementia

Breaking new ground: Zelda to test effects of cannabis on diabetic dementia

Bio-pharmaceutical company Zelda Therapeutics (ASX: ZLD) has partnered with Curtin University to test the effects of cannabis on cognitive decline, one of the most debilitating symptoms of diabetes. Research is now underway on the effects of cannabinoid-based medicine on capillary dysfunction in the brain, a condition which often leads to...

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The height of luxury: from a private jet to your superyacht holiday

The height of luxury: from a private jet to your superyacht holiday

A quick question for all the luxury holiday-chasers out there; what could you possibly do to improve upon a superyacht charter escape exploring the far-flung islands of some exotic destination? Well. Get there by private jet, of course! If there's one way to push the boundaries of opulence on any holiday, it's travelling via p...

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Village Roadshow slashes guidance on competition from Commonwealth Games

Village Roadshow slashes guidance on competition from Commonwealth Games

Shares in theme park operator Village Roadshow (ASX: VRL) have hit their lowest level in six years as it reported weak visitor numbers because of competition from the Gold Coast Commonwealth Games. The company released a trading update for the nine months to March 31 and also blamed wet weather in March for the drop in visitors as it down...

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