Articles

Mirvac retail property value drops $349m

Mirvac retail property value drops $349m

The impacts of social distancing requirements due to COVID-19 have taken their toll on real estate group Mirvac (ASX: MGR), slashing the value of its retail property portfolio by $349 million. The preliminary unaudited devaluation represents a 9.9 per cent drop for the group's second-largest property asset class.  In contrast...

Read More...
Afterpay UK active customer numbers hit one million

Afterpay UK active customer numbers hit one million

Afterpay (ASX: APT) delivered an impressive set of performance indicators from its UK business Clearpay after the market closed yesterday, with more than one million active customers on board after just one year in operation. The COVID-19 pandemic has led to a strong customer adoption rate for Clearpay, with customer purchasing frequency ...

Read More...
Village Roadshow to reopen theme parks, cinemas

Village Roadshow to reopen theme parks, cinemas

Village Roadshow (ASX: VRL) will start opening some Queensland theme parks on Friday, while its cinema circuit in Tasmania is already open with Victorian regional cinemas to follow suit later this week. The company's theme parks Warner Bros. Movie World, Sea World, Wet'n'Wild and Paradise Country have all had their COVID Safe ...

Read More...
FBR shares drop like hot bricks after JV falls through

FBR shares drop like hot bricks after JV falls through

Perth-based robotic technology company FBR (ASX: FBR) has lost its second joint venture in the space of 18 months, after a deal with Brickworks Building Products was abandoned due to COVID-19 uncertainty in the Australian residential construction market. FBR has announced today the two parties mutually agreed to discontinue the ...

Read More...
Remote working revolution sees Canva valuation hit US$6 billion

Remote working revolution sees Canva valuation hit US$6 billion

Australian online design platform Canva is now worth US$6 billion (AUD$8.7 billion) after completing a US$60 million funding raise. The valuation is up from US$3.2 billion, with the company attributing the lift to its growing prominence as a workplace collaboration platform and strong user growth during the COVID-19 pandemic. More tha...

Read More...
Primewest to begin Stage 2 of $100m Joondalup master plan

Primewest to begin Stage 2 of $100m Joondalup master plan

Property fund manager Primewest (ASX: PWG) is going ahead with the second stage of its $100 million master plan for the City of Joondalup north of Perth. After completing a 10,000 square metre Stage 1 office building early last year, Primewest has now unveiled plans for a 12,000 square metre office building and associated p...

Read More...
Former Quantum Resources CEO charged with insider trading

Former Quantum Resources CEO charged with insider trading

The former CEO and director of gold mining company Quantum Resources (now known as Nova Minerals (ASX: NVA) has been charged with insider trading offences. Avrohom Mordechai Kimelman of St Kilda East appeared in the Magistrates' Court of Victoria today charged with four counts of procuring the acquisition of shares in Quantum while in...

Read More...
Crown Perth to reopen on Saturday

Crown Perth to reopen on Saturday

The easing of COVID-19 restrictions in Western Australia will allow Crown Perth to recommence operations from Saturday 27 June. With effect from this weekend Crown will restart its casino and gaming floor food and beverage outlets under temporary restrictions agreed with the WA Government. The restrictions include: Capacity li...

Read More...
Cromwell labels $518m ARA takeover bid "opportunistic"

Cromwell labels $518m ARA takeover bid "opportunistic"

A $518 million takeover bid from ARA Asset Management has been launched today that would see the fund manager take control of Cromwell Property Group (ASX: CMW). ARA via its wholly owned entity ARA BidCo intends to acquire 29 per cent of all Cromwell securities that ARA does not already hold an interest in for $0.90 per share. If succ...

Read More...
iSignthis seeks $27m in damages from ASX

iSignthis seeks $27m in damages from ASX

A fintech unicorn whose shares have been banned from trading for the past eight months is on the offensive against Australia's sharemarket operator, alleging it engaged in misleading and deceptive conduct. Payment identity verifier iSignthis (ASX: ISX) has been in a stoush with the Australian Stock Exchange (ASX: ASX) s...

Read More...
SA to adopt 2sqm rule, mulls VIC traveller pre-approvals

SA to adopt 2sqm rule, mulls VIC traveller pre-approvals

South Australia will implement the two square metre rule per person for indoor gatherings, restaurants, bars and cafes when it moves to Stage 3 on Monday 29 June. The approach sees COVID-19 restrictions being wound back even further, after the SA Government previously announced the application of the 4sqm rule would be applied across the ...

Read More...
NSW Premier tells tourism providers to bar travellers from Melbourne

NSW Premier tells tourism providers to bar travellers from Melbourne

NSW Premier Gladys Berejiklian (pictured) may not be closing down the border with Victoria as the neighbouring state's COVID-19 cases spike, but today she has taken a firm stance against Melburnians coming to visit. The ABC reports the Premier called on all accommodation owners and tourism operators "not to interac...

Read More...
CitrusAd doubles revenue during COVID-19 online shopping boom

CitrusAd doubles revenue during COVID-19 online shopping boom

Australian digital ad platform CitrusAd has been turbocharged by the surge in online shopping resulting from COVID-19 restrictions, doubling its revenue and securing five new major international retail clients. The company, co-founded by entrepreneur and former AFL player Brad Moran (pictured), has signed five new international clients in...

Read More...
Positive signs from plasma treatment tests on 20,000 COVID-19 patients

Positive signs from plasma treatment tests on 20,000 COVID-19 patients

Researchers in the US have observed reduced mortality in COVID-19 patients who were given convalescent plasma with anti-viral antibodies, prompting calls to shift the focus of studies from safety to efficacy. Mayo Clinic scientists and collaborators have found investigational convalescent plasma to be safe following transfusion in a ...

Read More...
Dodo and iPrimus in court for allegedly misleading customers about NBN speeds

Dodo and iPrimus in court for allegedly misleading customers about NBN speeds

The Australia Competition and Consumer Commission (ACCC) has taken Dodo and iPrimus to court, alleging the two mislead customers about the internet speeds they could achieve on the NBN. The ACCC alleges that between March 2018 and April 2019, Dodo and iPrimus, two Internet service providers owned by Vocus Group (ASX: VOC), made false or m...

Read More...
Woolies, Qube to spend at least $1.1 billion on automated distribution centres in Sydney

Woolies, Qube to spend at least $1.1 billion on automated distribution centres in Sydney

After shelling out $560 million on an automated distribution centre in Melbourne's southeast, Woolworths Group (ASX: WOW) will spend a further $700-780 million on two new centres in Sydney's Moorebank Logistics Park. Woolworths has signed a 20-year lease with Qube Holdings, which will invest $420-460 million itself to build t...

Read More...
Mayfair 101 places IPO Wealth into voluntary administration

Mayfair 101 places IPO Wealth into voluntary administration

Restructuring advisory firm Cor Cordis has been appointed as the voluntary administrator of Mayfair 101's IPO Wealth Holdings. The move follows the appointment of receivers to IPO Wealth in May by Vasco Trustees after two repayments were missed. The AFR reported that these missed repayments were worth $3 million and followed the f...

Read More...
Watchdog sues CBA, Colonial First State alleging conflicted influence

Watchdog sues CBA, Colonial First State alleging conflicted influence

Around 390,000 people signed up to a superannuation fund through the alleged influence of $22 million in conflicted remuneration from Colonial First State to the Commonwealth Bank (ASX: CBA), according to civil proceedings filed by the corporate watchdog. The Australian Securities and Investments Commission (ASIC) alleges the payment...

Read More...
WA to remove seated service requirements on Saturday

WA to remove seated service requirements on Saturday

The Western Australian Government has created two new phases in its COVID-19 roadmap, doing away with seated service requirements and letting the two square metre rule govern numbers in restaurants, cafes, bars, nightclubs and other venues. Phase 4 will start from Saturday, 27 June (11:59pm, 26 June), allowing major sport and entertainmen...

Read More...
Deloitte Australia slashes 700 jobs in response to COVID-19 impacts

Deloitte Australia slashes 700 jobs in response to COVID-19 impacts

The economic impacts of the COVID-19 pandemic have forced Deloitte Australia to tighten its belt, resulting in 700 staff members being made redundant. The company says the decision to reduce its workforce of 10,000-strong by 700 was made in response to COVID-19. Whilst Deloitte's revenue has grown for the financial year by 10 per ...

Read More...
Former Wattle Health chair banned for hiding $35m income

Former Wattle Health chair banned for hiding $35m income

Tax agent Peter Biantes has been banned from practicing for up to five years after the Tax Practitioners Board (TPB) found he had tried to hide a $35 million windfall from the sale of a cheese business abroad. Biantes, who resigned from the board and his role as interim chairman at Wattle Health (ASX: WHA) last week citing healt...

Read More...
QLD, NSW Premiers raise concerns over VIC case spike

QLD, NSW Premiers raise concerns over VIC case spike

A recent spike in community transmission of COVID-19 in Victoria has raised alarm bells up north and could derail Queensland's border reopening plans, while New South Wales Premier Gladys Berejiklian has urged people to reconsider travelling to Melbourne.  Speaking to the press this morning, Queensland Premier Annastacia Palaszcz...

Read More...
Victorian COVID-19 cases keep growing, hospitalisations double

Victorian COVID-19 cases keep growing, hospitalisations double

After putting the brakes on increased patron numbers and extending a state of emergency by four weeks over the weekend, Victoria has today reported 16 new cases of COVID-19 overnight. Health Minister Jenny Mikakos (pictured) says six of these new cases are linked to known outbreaks, four relate to hotel quarantine, five are from routine t...

Read More...
Melbourne office tower anchored by Domain settles for $50 million

Melbourne office tower anchored by Domain settles for $50 million

Property portal Domain will anchor a freshly settled $50 million office building in Cremorne, Melbourne. The newly built office tower at 600 Church Street was purchased off-the-plan in 2018 by fund manager Bayley Stuart Capital for $50 million and settled today by ICON Developments. The tower is currently 80 per cent leased and will w...

Read More...
Stockland CEO to retire as commercial property portfolio drops in value

Stockland CEO to retire as commercial property portfolio drops in value

The CEO and managing director of listed property group Stockland (ASX: SGP) Mark Steinert (pictured) has announced his intention retire today after 7.5 years in the role. The company is now searching for Steinert's successor who will lead the company through its COVID-19 recovery. "A flexible period of transition has been agr...

Read More...
SEEK improves at home, records $190m impairment after "devastating" impacts in Latin America

SEEK improves at home, records $190m impairment after "devastating" impacts in Latin America

Online job postings giant SEEK (ASX: SEK) has seen improved momentum across its three largest businesses, but green shoots have been offset by the economic impact of COVID-19 in Brazil and Mexico with impairments of $190-230 million. Weekly billings have been on the rise for SEEK's Australia-NZ business although they are still down 40...

Read More...
Queensland stadiums to welcome up to 10,000 fans from next weekend

Queensland stadiums to welcome up to 10,000 fans from next weekend

Up to 10,000 spectators will be allowed to watch the footy in Queensland stadiums from Saturday 27 June. The move is the latest COVID-19 restriction to ease in the sunshine state, and represents things returning to a sense of normality according to Queensland Premier Annastacia Palaszczuk. "This is another small, sensible step to...

Read More...
Victoria delays easing restrictions to tackle COVID-19 resurgence

Victoria delays easing restrictions to tackle COVID-19 resurgence

A sharp rise in COVID-19 cases has prompted the Victorian Government to take a harder line on home visits and postpone an increase in patron numbers for venues by three weeks. After 25 new cases were reported in the state overnight, Premier Daniel Andrews said medical experts had advised Victoria was at a "critical crossroads&qu...

Read More...
SA borders open to Queenslanders from midnight tonight

SA borders open to Queenslanders from midnight tonight

As of midnight tonight travellers from Queensland into South Australia will no longer be required to complete 14 days of self-isolation. The removal of the self-isolation requirement brings Queensland in line with travellers from Western Australia, Tasmania, and the Northern Territory who have been able to freely travel into SA since 17 J...

Read More...
Historic legal challenge against Clive Palmer's Galilee Coal Project commences today

Historic legal challenge against Clive Palmer's Galilee Coal Project commences today

A group of young climate activists and rural land holders will take on Clive Palmer's Galilee Coal Project in the Queensland courts today, marking the first time a coal mine has been challenged on human rights grounds in Australia. Represented by the Environmental Defenders Office, the coalation Youth Verdict will argue the project op...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 1487
Mudgeeraba QLD 4213

LoginTell a FriendSign Up to Newsletter