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Public health warning issued for Paddington pub

Public health warning issued for Paddington pub

NSW Health has issued a public health warning for the Four in Hand Pub in Paddington after a confirmed case of COVID-19 attended the venue. Guests who attended the pub downstairs between 6.30-10pm on 26 August for more than two hours are considered close contacts and must immediately get tested and self-isolate for 14 days since they were th...

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Australian GDP falls by a record 7 per cent

Australian GDP falls by a record 7 per cent

The Australian economy is officially in recession after the country's gross domestic product (GDP) fell by 7 per cent in the June quarter. The contraction is the largest on record and follows a dip of 0.3 per cent in the March 2020 quarter. According to the Australian Bureau of Statistics (ABS) the combined effect of the pandemic and g...

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Australia's largest grain exporter banned in China

Australia's largest grain exporter banned in China

China's trade spat with Australia has escalated after the country suspended shipments from barley producer CBH, alleging they contained quarantine pests on multiple occasions. The move comes amidst a souring of relations between the two countries in which China has also increased tariffs on Australian barley, banned exports from several ...

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Legal costs weigh down Keybridge Capital

Legal costs weigh down Keybridge Capital

Investment firm Keybridge Capital's (ASX: KBC) lawyers have had a busy year with litigation costs relating to takeover attempts creating a heavy burden for the company in FY20. The company, currently embroiled in an ongoing takeover attempt from Wilson Asset Management Capital (ASX: WAM), saw its profits and revenues struggle in the...

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Mesoblast gains ethics approval to treat COVID-19 patients in Australia

Mesoblast gains ethics approval to treat COVID-19 patients in Australia

With US trials for its potential COVID-19 treatment now at the Phase 3 stage, regenerative health company Mesoblast (ASX: MSB, NASDAQ: MESO) has today received a breakthrough for testing the stem cell-based intravenous solution in Australia. The Melbourne-based group has today announced it received ethics approval to include Australian ...

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Nufarm forecasts $215m impairment charge, 29 per cent profit drop

Nufarm forecasts $215m impairment charge, 29 per cent profit drop

Crop protection group Nufarm (ASX: NUF) is capping off a whirlwind financial year with a $215 million hit to its asset values in Europe, where competition and high input costs have put profit margins under strain. It is a state of affairs that prompted the Melbourne-based group to curtail herbicide manufacturing at its operations Austri...

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If Facebook really pulls news from its Australian sites, we'll have a much less compelling product

If Facebook really pulls news from its Australian sites, we'll have a much less compelling product

Facebook has announced it will ban publishers and people in Australia from sharing local and international news on Facebook and Instagram if a proposal to force tech giants to pay for news becomes law. The announcement follows the release of the Australian Competition and Consumer Commission's draft news media bargaining code, under whic...

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Starpharma rises on breakthrough COVID-19 treatment news

Starpharma rises on breakthrough COVID-19 treatment news

Pharmaceuticals developer Starpharma (ASX: SPL) has been riding positive investor sentiment for just over a week now after the announcements of two major COVID-19 breakthroughs. Last week, SPL shares rose by about 40 per cent in response to the company's update about a nasal spray for protection against COVID-19, based on the company'...

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Oliver's loss deepened ahead of EG Group twist

Oliver's loss deepened ahead of EG Group twist

While Oliver's Real Food (ASX: OLI) is almost an entirely different company since linking up with EG Group at petrol stations around the country, its FY20 results show signs of a turnaround that was just a distant dream 18 months ago. The company's loss was 12 per cent greater at $17.5 million, but that was mostly due to impairments,...

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Victorian manufacturer crafts ventilator for COVID-19 from scratch

Victorian manufacturer crafts ventilator for COVID-19 from scratch

A new ventilator specifically designed for COVID-19 patients has been designed in Ballarat, Victoria with manufacturing of the device to begin within weeks. Built by Gekko Systems, the ventilator is easy to use, highly robust and can be transported and used in regional and more remote environments. The move into ventilator manufacturing is...

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Former BlueScope manager pleads guilty to obstructing investigation

Former BlueScope manager pleads guilty to obstructing investigation

Jason Ellis (pictured), the former general manager of sales and marketing at BlueScope Steel (ASX: BSL), has entered a guilty plea to one charge of obstructing a cartel investigation today. Ellis pleaded guilty in Sydney's Downing Centre Local Court this morning to inciting two fellow BlueScope employees to give false information and evi...

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Facebook threatens to block news sharing

Facebook threatens to block news sharing

Digital giant Facebook (NASDAQ: FB) says it will ban Australian publishers from sharing news on social media sites Facebook and Instagram if a new mandatory code of conduct becomes law. The draft code, unveiled in July, establishes a framework through which news publishers can negotiate with digital platforms to secure fair payment for conte...

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NSW loosens border restrictions with Victoria

NSW loosens border restrictions with Victoria

As of Friday communities along the Victorian-NSW border will be able to move more freely, with the buffer zone extended to 50km on either side. The easing of restrictions will extend the geographical scope of which residents are allowed to move interstate, but existing restrictions outside that zone will continue unchanged for the time being...

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Helloworld manages crash landing after weathering the "perfect storm"

Helloworld manages crash landing after weathering the "perfect storm"

Travel booking company Helloworld (ASX: HLO) has reported a $69.9 million loss for a year it described as a "perfect storm", just like competitors such as Flight Centre, Corporate Travel Management and WebJet. During FY20 Helloworld's bottom line dropped by more than $100 million as international and even some interstate travel...

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EVENT reeling from cinema closures with $11.4m loss

EVENT reeling from cinema closures with $11.4m loss

With the best box office performance in three years across its Australian and New Zealand cinemas, as well as high occupancy rates in its resorts, EVENT Hospitality and Entertainment (ASX: EVT) was on track for a good result before COVID-19 crept up on the world. That's even despite closures at its Thredbo Alpine Resort due to bushf...

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The Agency bounces back with earnings milestone

The Agency bounces back with earnings milestone

Acquisitive real estate group The Agency (ASX: AU1) has today announced its first full-year EBITDA profit since listing at $2.66 million, backed by strong revenue growth as it looks to boost agent numbers further in the quarters ahead. Facing challenges in response to COVID-19 and the pressures of a $12 million debt it needs to pay back by 3...

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Apollo stalls on COVID-19 shutdowns, posts loss greater than market cap

Apollo stalls on COVID-19 shutdowns, posts loss greater than market cap

There are unlikely to be too many happy campers on the board of Apollo Tourism & Leisure (ASX: ATL) today after the company announced a $61.2 million loss, with global demand for RV rentals heavily impacted by travel restrictions. To put the magnitude of this loss into perspective, it is 15 per cent higher than the market value of the co...

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SeaLink shares set sail as earnings surge 54 per cent

SeaLink shares set sail as earnings surge 54 per cent

Shares in ferry and resort operator SeaLink Travel Group (ASX: SLK) have risen 6 per cent in early trading after the company reported a 54 per cent increase in underlying earnings to $73.7 million. The encouraging result comes despite a hit to the tourism sector and reduced movement from commuters who normally use its services, with governme...

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Owner of Noni B and Millers strikes deal to reopen its Westfield stores

Owner of Noni B and Millers strikes deal to reopen its Westfield stores

Mosaic Brands (ASX: MOZ) has struck a deal with major landlord Scentre Group (ASX: SCG) to reopen its stores in Westfield shopping centres outside Victoria, but the fashion retailer will still press ahead with plans to permanently close 300-500 shopfronts. The breakthrough follows an announcement on 20 August whereby Scentre temporarily lock...

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Can Temple & Webster beat yearly earnings in just three months?

Can Temple & Webster beat yearly earnings in just three months?

After delivering on its expected five-fold rise in earnings for FY20 to $8.5 million, online furniture retailer Temple & Webster (ASX: TPW) has reported staggering sales and profit figures for July and August. The Sydney-based company estimates an EBITDA of $6 million for FY21 thus far, meaning its current monthly earnings are double its...

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Retail Food Group pulls off turnaround

Retail Food Group pulls off turnaround

Retail Food Group (ASX:RFG), the franchise operator of Brumby's Baker, Gloria Jeans, Michel's Patisserie and more, has pulled off a major turnaround project in spite of COVID-19 impacts. The company, which was singled out by a parliamentary inquiry into Australian franchisors for damaging "the reputation of franchising", ma...

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Strong international earnings growth buoys drought-affected Costa

Strong international earnings growth buoys drought-affected Costa

The effects of drought, bushfires, and a global pandemic on fruit and vegetable grower Costa Group's (ASX: CGC) results were offset by the major growth of international sales during the first six months of 2020. International earnings nearly doubled, contributing to revenue growth of 6.8 per cent to $612.4 million. According to outgoin...

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Schoolies cancelled and new restrictions as Gold Coast records two new COVID-19 cases

Schoolies cancelled and new restrictions as Gold Coast records two new COVID-19 cases

The COVID-19 cluster at the Queensland Corrective Services Academy has grown to four confirmed infections after another three people tested positive overnight. Because two of the three new cases are people based on the Gold Coast, the state government has implemented new restrictions for the city. For Gold Coast residents, this means that ...

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Shine resilient with healthy profit growth

Shine resilient with healthy profit growth

Listed law firm Shine Justice (ASX: SHJ) saw its profits rise by 53.6 per cent to $21.5 million in FY20 as the business weathered the shock of the COVID-19 pandemic. EBITDA also rose by 7.8 per cent to $51.15 million for the full year, and revenue grew by 2.9 per cent. Managing director and CEO Simon Morrison says Shine's business...

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Theme park closures sees Dreamworld operator post $137m loss

Theme park closures sees Dreamworld operator post $137m loss

The enforced closures of Ardent Leisure's (ASX: ALG) theme parks in Australia and entertainment centres in the US due to COVID-19 restrictions resulted in the company's loss ballooning to $136.6 million in FY20. Total reported revenue for the Dreamworld operator decreased by $85 million to $398.3 million in the full year, also due to C...

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28 Data#3 customers impacted by cyber attack

28 Data#3 customers impacted by cyber attack

Cloud computing and IT solutions provider Data#3 (ASX: DTL) has been hit by a cyber-security network incident with 28 customers impacted. The business technology solutions company says the cyber-attack, which is still under investigation, involved an overseas third party. Data#3 says the incident has not had a material impact on its ongoin...

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Slater & Gordon delivers $950 million to clients

Slater & Gordon delivers $950 million to clients

Class action and personal injury law firm Slater & Gordon (ASX: SGH) has delivered around $950 million to its clients during FY20. Slater & Gordon delivered $700 million in personal injury compensation to clients and $250 million in class action settlements on behalf of more than 55,000 Australians by the end of June 2020. This bus...

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Paul O'Sullivan named new chairman of ANZ

Paul O'Sullivan named new chairman of ANZ

Paul O'Sullivan (pictured), the current chair of Western Sydney Airport Corporation and Optus, will succeed David Gonski as the chairman of ANZ (ASX: ANZ) on 28 October 2020. The appointment follows Gonski's decision to retire from the board after serving as chairman for the last six and a half years. O'Sullivan says he is...

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Trouble at the mall as landlords and tenants ponder mutually assured destruction

Trouble at the mall as landlords and tenants ponder mutually assured destruction

"This is not a bluff," Scott Evans, the chief executive of Mosaic Brands, has said of his threat to permanently close 300 to 500 stores in Australia unless landlords reduce rents. Mosaic's network of about 1,300 apparel stores includes Katies, Noni B, Rivers, Rockmans, Millers and Crossroads. With stores shuttered temporarily d...

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Stylerunner, Hype DC digital sales deliver record profit for Accent Group

Stylerunner, Hype DC digital sales deliver record profit for Accent Group

Footwear retailer Accent Group (ASX: AX1) refused to let COVID-19 get in the way of record profits in FY20, with sales supported by a pivot to digital. Accent, the company behind brands including The Athlete's Foot, Skechers, Dr. Martens and Hype DC in Australia, reported record net profit after tax of $58 million, up 7.5 per cent on las...

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