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SaaS business lifts profits for TechnologyOne

SaaS business lifts profits for TechnologyOne

TechnologyOne (ASX: TNE) has today shown why its shares are trading well above pre-coronavirus levels, with a six per cent rise in profit after tax to $19.1 million. The Brisbane-based company's Software as a Service (Saas) business was a key driver of growth for the period, with annual recurring revenue up 33 per cent at $110 million...

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Baby Bunting more than doubles online sales during COVID-19 restrictions

Baby Bunting more than doubles online sales during COVID-19 restrictions

Baby goods retailer Baby Bunting's (ASX: BBN) business model has proven to be COVID-19-proof thus far, with sales up across the board during the heaviest of COVID-19 restrictions. As an essential retailer Baby Bunting's stores remained open to service the new parents of Australia, but many turned online during the months of March ...

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"Every business will be a space business by 2030", says KPMG

"Every business will be a space business by 2030", says KPMG

A booming global space industry will mean every business will be a space business by 2030, according to a new report. KPMG Australia's report "30 Voices on 2030 - The future of space" forecasts the global space industry will be worth US$600 billion in 20 years. It comes after Australia's own space industry has experi...

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GO1 raises US$40m after remote learning activity triples

GO1 raises US$40m after remote learning activity triples

Hot on the heels of a deal with Microsoft Teams, online training and educational content company GO1.com has raised more than US$40 million (AUD$61 million) in a Series C funding round to support increased market expansion in North America. The raising led by SEEK and Madrona Venture Group is worth more than double last year's Se...

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BGH Capital gambles on revised bid for Village Roadshow

BGH Capital gambles on revised bid for Village Roadshow

The proposed acquisition of Village Roadshow (ASX: VRL) by BGH Capital has been taken to a new level with BGH lowering its offer and Village opening up its books. The move comes as the Melbourne-based fund is also reportedly one of the frontrunners in the bid to acquire Virgin Australia (ASX: VAH). In a sign of Village Roadshow's ...

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The costs of the shutdown are overestimated - they're outweighed by its $1 trillion benefit

The costs of the shutdown are overestimated - they're outweighed by its $1 trillion benefit

As Australia begins to relax its COVID-19 restrictions there is understandable debate about how quickly that should proceed, and whether lockdowns even made sense in Australia in the first place. The sceptics arguing for more rapid relaxation of containment measures point to the economic costs of lockdowns and appeal to the cold calculus ...

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Superloop traffic up 30 per cent in the space of weeks

Superloop traffic up 30 per cent in the space of weeks

Superloop (ASX: SLC) shares were given a fibre-optic jolt this morning as the cloud services connector reaffirmed profit guidance for FY20. The Brisbane-based company said it was tracking towards the mid-point of a $12-15 million EBITDA guidance, supported by strong core fibre connectivity sales performance in the third quarter. ...

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Queensland border could be closed until September

Queensland border could be closed until September

As COVID-19 restrictions begin to ease nationally many Australians are wondering when they might be able to book a holiday interstate. If you ask the Prime Minister it seems he is looking for interstate travel to be back on the cards by July, according to the Federal Government's national framework. But Queensland Premier Annastac...

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Elders profit almost doubles, shares hit new 10-year high

Elders profit almost doubles, shares hit new 10-year high

Agricultural lender and inputs provider Elders (ASX: ELD) is bringing in the harvest thanks to the return of rain in many parts of eastern Australia, with profits rising 90 per cent to $52 million in the first half. ELD shares hit a new 10-year high of $10.09 this morning, and as at 10:45am AEST they were trading up 4.57 per cent at $9.84...

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Victoria announces $2.7 billion construction program

Victoria announces $2.7 billion construction program

Victoria will embark on a large-scale construction program worth $2.7 billion to enable businesses and workers to bounce back from the COVID-19 economic crisis. The investment will fund hundreds of projects across several sectors and result in thousands of jobs for Victorians, according to Premier Daniel Andrews. None of these project...

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McDonald's shuts 12 stores after truck driver tests positive

McDonald's shuts 12 stores after truck driver tests positive

McDonald's Australia has temporarily shut 12 stores in Victoria after a delivery truck driver tested positive to COVID-19. The Department of Health has identified the truck driver as a workplace close contact of the previously announced case at a McDonald's in Craigieburn. The Age reports the Craigieburn employee was an e...

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Victoria's cafes, restaurants and pubs to reopen with 20-customer limit from 1 June

Victoria's cafes, restaurants and pubs to reopen with 20-customer limit from 1 June

Six days ago when Australians in many states and territories were frothing to soon go back to the pub, have dinner out of home or celebrate being allowed to sit down with a morning coffee, Victorian Premier Daniel Andrews (pictured) had a more sobering message. He explained the feedback from hospitality venues had been overwhelming - 10 p...

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Smiles Inclusive clinics reopen, CFO heads out the door

Smiles Inclusive clinics reopen, CFO heads out the door

After challenging business conditions before COVID-19 were exacerbated by the pandemic and shutdowns, Smiles Inclusive (ASX: SIL) has today reported it will be reopening all its dental centres nationwide. But the group will be doing so without its CFO and company secretary Emma Corcoran (pictured), who has left today just a month after fo...

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"Good on you for reopening," PM tells Australian businesses

"Good on you for reopening," PM tells Australian businesses

With $220 billion in loans now deferred, banks reportedly going easy on debt covenants and insolvencies well below average, Prime Minister Scott Morrison has offered words of encouragement to the business community today. As restrictions start to be eased between now and Monday for the majority of the population, the PM acknowledges limit...

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Construction begins on $121 million masterplanned community in Brisbane

Construction begins on $121 million masterplanned community in Brisbane

Condev Construction have commenced work on Frasers Property Australia's $121 million masterplanned community in Brisbane's east. Located in Carina, a suburb situated just 8 kilometres from the Brisbane CBD, Minnippi Quarter will consist of 172 boutique terrace homes, 20 land lots, and amenities. The 5.2 hectare residential com...

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BlueScope reverts to manual operations as cyber incident disrupts manufacturing

BlueScope reverts to manual operations as cyber incident disrupts manufacturing

Australian steel producer BlueScope (ASX: BSL) has confirmed its IT systems have been affected by a cyber attack, causing disruptions to part of its operations. In a short statement to the ASX, the company says its manufacturing and sales operations have been impacted by the incident. Some processes have been paused as a result, but s...

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Mirvac, Coombes score planning approval for Sydney's tallest residential tower

Mirvac, Coombes score planning approval for Sydney's tallest residential tower

The Central Sydney Planning Committee has given planning consent for a mixed-use residential tower on George Street that will be the tallest of its kind in the city, to be developed by Mirvac (ASX: MGR) on behalf of Coombes Property Group. With its 507 luxury serviced apartments, the project forms part of a $914 million redevelo...

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COVID-19 to hit Victorian GSP by 14 per cent in June quarter

COVID-19 to hit Victorian GSP by 14 per cent in June quarter

According to Victorian Treasurer Tim Pallas the state was on track to record its sixth-straight budget surplus this financial year. But the one-two punch of the bushfires followed by the COVID-19 economic crisis has left the State looking worse for wear. Pallas says while the bushfires were devastating both economically and socially, ...

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Qatar Airways restarts Brisbane flights

Qatar Airways restarts Brisbane flights

One of the few airlines still connecting Australia with the Middle East and Europe is about to expand its offering of routes to Brisbane on 20 May. Qatar Airways will be recommencing three weekly flights from Doha to Brisbane, adding to existing daily services with Sydney and Melbourne as well as four-weekly flights to Perth. The firs...

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Michael Hill to gradually reopen stores from Saturday

Michael Hill to gradually reopen stores from Saturday

Jewellery retailer Michael Hill (ASX: MHJ) will open nearly 100 of its stores in Australia this weekend with an aim to progressively open the remainder during May. But not all Michael Hill employees will be going back to work; the company has decided to permanently close five stores in Australia, three in New Zealand and one in Canada. ...

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Kogan buys Matt Blatt for $4.4 million

Kogan buys Matt Blatt for $4.4 million

Just four years after buying Dick Smith's online business, e-commerce giant Kogan.com (ASX: KGN) has today purchased another iconic Australian retailer. This morning the company announced it had purchased furniture and homeware retailer Matt Blatt for $4.4 million, with assets including the group's intellectual property and goodwi...

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'Leadership is learnable', says doctor on the COVID-19 frontline

'Leadership is learnable', says doctor on the COVID-19 frontline

There are few places right now where leadership and risk management are as paramount as in a hospital, especially if you're the director of an infectious diseases unit. This is exactly the role of Dr Alex Chaudhuri from The Prince Charles Hospital (TPCH) in Brisbane, who also sees patients as an infectious disease physician while bala...

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Breakthrough for Aussie barley and fruit exporters after Indian approvals

Breakthrough for Aussie barley and fruit exporters after Indian approvals

Export approvals are always welcome for agriculture, but as any grower will tell you it's the protocols that really count. This is why India's green light for two biosecurity processes could be a boon for Australian exporters of fruit and barley, with the potential to further penetrate the giant market.  Following In...

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One in four Australians now on JobKeeper

One in four Australians now on JobKeeper

Update (22 May 2020): It has since come to light that the Treasury and Australian Tax Office (ATO) have drastically reduced their projected number of JobKeeper recipients by three million. Read more here. Approximately one in three Australians is being supported by Government assistance programs like JobKeeper, JobSeeker and Youth Al...

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Almost three million Australian jobs hit somehow by COVID-19 crisis

Almost three million Australian jobs hit somehow by COVID-19 crisis

The Australian Bureau of Statistics (ABS) has today revealed the unemployment rate rose by one percentage point to 6.2 per cent between March and April. On face value the number of unemployed people increased by 104,500 for the period, but seasonaly adjusted employment fell by a much larger figure of 594,300. The reason for this ...

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Hemp health business Ecofibre cracks USA's largest pharmacy CVS

Hemp health business Ecofibre cracks USA's largest pharmacy CVS

Hemp nutraceuticals company Ecofibre (ASX: EOF) has continued its aggressive rebound on the ASX today after announcing an exclusive distribution agreement with CVS, the USA's largest pharmacy chain. The deal was reached by Ecofibre EOF Distribution, Inc and will initially see 10 of the group's Ananda Hemp range of topica...

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Gilmour Space Technologies to develop rockets for the Defence Force

Gilmour Space Technologies to develop rockets for the Defence Force

Gold Coast space-tech company Gilmour Space Technologies has penned an R&D agreement with the Federal Government today. The new partnership between Defence Science and Technology and Gilmour Space will see the two research defence-related technologies including propulsion, materials and avionics technologies. The research will the...

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COVID-19 challenges fail to stifle success for Made With Plants

COVID-19 challenges fail to stifle success for Made With Plants

An Australian vegan brand has found success on the shelves of Woolworths despite having the odds stacked against it. Made From Plants took advantage of heightened demand for plant-based protein products during the COVID-19 pandemic, launching a new and improved range. It feels counterintuitive to launch a brand new line of products in...

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Breville shares surge after $94m placement hits the mark

Breville shares surge after $94m placement hits the mark

Kitchen appliance company Breville (ASX: BRG) has today raised $94 million at a 9.1 per cent discount to yesterday's closing price, only to see its shares jump by a further 9.6 per cent this morning. In other words, anyone who took part in the institutional placement and sells right now has just made a 20.5 per cent profit in the spac...

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Queensland Government launches Virgin takeover bid

Queensland Government launches Virgin takeover bid

Since its founding in August 2000 Virgin Australia (ASX: VAH) has called Brisbane home throughout its journey to provide a competitive option for Australian air travel. But if the Queensland Government is successful with a recent bid, the airline's ties to the state could become even closer. The Palaszczuk Government confirmed yes...

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