Articles

Piper Alderman launches shareholder class action over Dreamworld tragedy

Piper Alderman launches shareholder class action over Dreamworld tragedy

Theme park operator Ardent Leisure (ASX: ALG) has announced to the market it was served with a shareholder class action yesterday in relation to the 2016 Dreamworld tragedy. After the market closed yesterday the Sydney-headquartered group reported the proceedings had been filed by law firm Piper Alderman in the Federal Court of Austr...

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State-based actor commits cyber attack against Australian organisations

State-based actor commits cyber attack against Australian organisations

A sophisticated cyber attack launched by a state-based actor is targeting Australian organisations on a broad scale, according to Prime Minister Scott Morrison. Speaking to the press this morning the PM disclosed the entity was targeting a variety of Australian organisations across a range of sectors including all levels of government, in...

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Class action alleges electricity giants fudged supply numbers for profit

Class action alleges electricity giants fudged supply numbers for profit

Law firm Piper Alderman has launched a class action on behalf of all Queenslanders against two of the State's leading electricity giants. The action alleges Stanwell Corporation and CS Energy engaged in "bidding games" designed to artificially create scarcity of supply of electricity and to spike energy prices for their own ...

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NT to reopen borders, COVID-19 "eradicated"

NT to reopen borders, COVID-19 "eradicated"

Northern Territory Chief Minister Michael Gunner has today announced interstate borders will reopen from 17 July, giving the country four weeks' notice before visitors can enter the "safest place in Australia without question". Speaking at a press conference this afternoon, Gunner said today marked 28 days since the last cor...

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Employment levels dive again in May with 228,000 jobs lost

Employment levels dive again in May with 228,000 jobs lost

Employment levels in Australia have continued to tumble in the month of May, down 227,700 people according to the Australian Bureau of Statistics (ABS). Speaking to the press this afternoon, Prime Minister Scott Morrison described the figures as "devastating" but stressed the situation was improving with consumer and business co...

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Australia and the UK commence Free Trade Agreement negotiations

Australia and the UK commence Free Trade Agreement negotiations

Negotiations between Australia and the United Kingdom for a Free Trade Agreement (FTA) have commenced, with the goal to make goods from the UK cheaper for Australian consumers and vice versa. According to Federal Trade Minister Simon Birmingham, the FTA will support the COVID-19 economic recovery and will contribute to job creation and ec...

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PharmAust shares surge on COVID-19 treatment results, plans for human trials

PharmAust shares surge on COVID-19 treatment results, plans for human trials

A Perth-based pharmaceutical company attempting to repurpose existing drugs for COVID-19 treatment has received a boost today, after repeat in vitro experiments showed a reduction in infectivity in cell culture. Two weeks ago PharmAust (ASX: PAA) announced preliminary tests using monepantel (MPL) and monepantel sulfone (MPLS) ma...

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Federal Government backs space industry with $11 million in grants

Federal Government backs space industry with $11 million in grants

Developers of nano-satellites, space suits and virtual reality training simulators are among the recipients of $11 million in Federal Government grants targeted at the Australian space sector. The Federal Government has unveiled the 10 recipients of an $11 million grant program intended to create jobs and improve skills in the space space...

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Primewest to launch $300m "daily needs" retail property trust

Primewest to launch $300m "daily needs" retail property trust

Within two months of a pivot towards agricultural land investments, property fund manager Primewest (ASX:PWG) has today signalled its view on another counter-cyclical asset class - neighbourhood shopping centres. The Western Australia-based company has unveiled plans to create a new $300 million Australian "daily needs" pro...

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Lights, camera, action again as QLD film industry restarts

Lights, camera, action again as QLD film industry restarts

A COVID-safe plan has meant the film industry is back on set in Queensland, with two productions about to start and plans to get Baz Luhrmann's Elvis biopic filming again "as soon as possible". Premier Annastacia Palaszczuk says two productions in Cairns and on the Gold Coast will start filming again, showing great...

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Accessible online courses pave path to pandemic recovery

Accessible online courses pave path to pandemic recovery

Businesses and organisations across the country are lending a hand where they can during the COVID-19 crisis, whether it be out of compassion, mutual interest or what economists call positive externalities. In the case of The University of Queensland (UQ) Business School, one area this spirit of solidarity can be seen is through the ...

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Temple & Webster revenue nearly doubles during COVID-19 restrictions

Temple & Webster revenue nearly doubles during COVID-19 restrictions

As Australia turned to online shopping for non-essential purchases during the worst of the COVID-19 restrictions, Temple & Webster (ASX: TPW) managed to capitalise on the moment. In a business update released this morning, the e-commerce furniture group revealed its second half revenue grew by 90 per cent, driven by strong growth in A...

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Gold Coast Convention and Exhibition Centre prepares to reopen

Gold Coast Convention and Exhibition Centre prepares to reopen

Green shoots are showing at one of Australia's preeminent conference and events spaces as the Gold Coast Convention and Exhibition Centre (GCCEC) announces plans to reopen. The GCCEC says it has received approval from the Gold Coast Public Health Unit to operate under its COVID-safe plan. As such, the Centre could potentially host...

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Crowd Media Holdings signs 'VITAL' European sales agreement

Crowd Media Holdings signs 'VITAL' European sales agreement

The following article is sponsored content in partnership with Finfeed. Business News Australia does not give financial advice. Global media and marketing company Crowd Media Holdings Limited (ASX:CM8 | FWB:CM3) has joined forces with London-based VITAL Innovations Ltd. Crowd Media and VITAL have entered into a two-year exclusive and ...

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Victoria makes wage theft a criminal offence

Victoria makes wage theft a criminal offence

Australia's wage underpayment saga has taken a new twist today in Victoria, where Parliament has established criminal penalties for employers who deliberately underpay or don't pay their workers. Those who are found guilty of these practices - including the withholding of superannuation or employee entitlements - could face u...

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$350m Western Sydney innovation quarter gets green light

$350m Western Sydney innovation quarter gets green light

Property investor Charter Hall (ASX: CHC) and Western Sydney University have received approval to build the $350 million Innovation Quarter (iQ) precinct at Westmead. Development approval has been granted for stages 1 and 2 of the project, aimed at creating a "visionary hub" for innovation in health, education, re...

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Beacon Lighting beaming on profit growth forecast

Beacon Lighting beaming on profit growth forecast

Beacon Lighting (ASX: BLX) shares are shining 22 per cent brighter this morning after the Melbourne-based retailer reported sales growth throughout the pandemic to date, as well as expectations underlying profit will rise in FY20. By the close of business yesterday BLX shares had already clawed back all of their losses due to the market c...

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Bauer Media to offload Australian publishing arm

Bauer Media to offload Australian publishing arm

Just six weeks ago Bauer Media completed its acquisition of publisher Pacific Magazines from Seven West Media (ASX: SWM). But today the company has announced plans to offload its entire Australian publishing business, including Pacific Magazines, to private equity firm Mercury Capital. The sale comes as the German-owned group has been...

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Animals Australia live export legal challenge fails in the Federal Court

Animals Australia live export legal challenge fails in the Federal Court

Approximately 50,000 live sheep will be transported to the Middle East by ship after a legal challenge from Animals Australia failed to have an exemption overturned. Animal rights organisation Animals Australia launched Federal Court proceedings against the Department of Agriculture yesterday after an exemption was granted to export lives...

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SA to open borders to WA, TAS and NT tonight

SA to open borders to WA, TAS and NT tonight

South Australia has today taken its first major step since COVID-19 restrictions began to welcome visitors from the rest of the country, with plans to open borders to Western Australia, the Northern Territory and Tasmania as of midnight. This lifting of restrictions means travellers coming from these origins will not be required to s...

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Fresh $100m grant round for QLD small business, plus $10m interstate flight boost

Fresh $100m grant round for QLD small business, plus $10m interstate flight boost

The next phase of the Queensland Government's economic recovery plan has been unveiled, and small businesses, the tourism and arts industries and more are set to receive some stimulus. More than $300 million will be pumped into a variety of sectors as part of the next phase in the Queensland Government's 'Unite and Recover'...

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Global Foods makes $8.3m bid for Buderim Group's ginger, tourism assets

Global Foods makes $8.3m bid for Buderim Group's ginger, tourism assets

A two-year strategic review into Buderim Group's (ASX: BUG) ginger division has today yielded an $8.3 million offer from Adelaide-based Global Foods Group, sending the BUG share price 6.5 per cent higher in morning trading. Global Foods Group's principal shareholder is George Vasili, who also owns 15.86 per cent of Buder...

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NSW to cut nightlife red tape for COVID-19 recovery

NSW to cut nightlife red tape for COVID-19 recovery

The New South Wales Government will relax late night trading laws and lift a freeze on new liquor licences across Sydney's CBD, as part of a plan to reinvigorate the city's night time economy post-coronavirus. The state says changes will allow venues like pubs, clubs, hotels and bottle shops to adjust service offerings to meet con...

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CBA data shows rebound in spending intentions

CBA data shows rebound in spending intentions

The Commonwealth Bank of Australia (ASX: CBA) has observed "big changes" to household spending intentions in May, with upticks for retail and entertainment in particular.  The latest report in the bank's Household Spending Intentions (HSI) series provides early signs of stabilisation and recovery in parts of the economy...

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Centuria relaunches bid for Augusta Capital with $122m offer

Centuria relaunches bid for Augusta Capital with $122m offer

Property investment company Centuria Capital Group (ASX: CNI) is back in the arena with a fresh attempt to buy New Zealand real estate fund manager Augusta Capital (NZX: AUG). In late January the group made a $174 million offer aiming to diversify into New Zealand and its lift assets under management (AUM). Back then Centuria was...

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Uniti Group to raise funds for $532 million OptiComm acquisition

Uniti Group to raise funds for $532 million OptiComm acquisition

Fibre-to-the-Premises (FTTP) network operator OptiComm (ASX: OPC) is set to be acquired by Adelaide-based telco Uniti Group (ASX: UWL) for $532 million, if sufficient funds can be raised. Announced today, Uniti has entered into a scheme implementation deed with OptiComm under which Uniti will acquire 100 per cent of OptiComm's shares ...

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City Chic Collective closes 14 stores as negotiations with landlords conclude

City Chic Collective closes 14 stores as negotiations with landlords conclude

Fashion retailer City Chic Collective (ASX: CCX) has decided to close 14 holdover stores after finalising rental negotiations with its landlords. The company says its landlords have agreed to reduced rents for all stores except for 14 which will now be closed as a result. The remaining 92 stores across Australia and New Zealand have n...

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US fund sets the pins to take over Ardent Leisure's Main Event business

US fund sets the pins to take over Ardent Leisure's Main Event business

The US-based entertainment arm of Ardent Leisure Group (ASX: ALG) will receive US$80 million (approximately AUD$117 million) of investment to grow after the lifting of COVID-19 restrictions.  In exchange for the capital injection, US-based private investment firm RedBird Capital Partners will gain a 24.2 per cent interest in Main Eve...

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SPC enters IP and marketing JV with Doehler

SPC enters IP and marketing JV with Doehler

Fruit processor SPC continues its march into new market segments through the announcement of a joint venture with German natural ingredients powerhouse Döhler. Within two months of acquiring pomegranate brand PomLife, SPC is bolstering its global expansion plans through the formation of Gourmet Ingredients Pty Ltd with&nbsp...

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Flamingo AI may fold as fire sale falls through

Flamingo AI may fold as fire sale falls through

Chatbot developer Flamingo AI (ASX: FGO) is scraping the salt pan after negotiations collapsed to hand over operations and IP in exchange for the payment of accrued wages to employees.   The Software as a Service (SaaS) company reached a binding terms sheet last month with Rymamay Investments to sell all its assets for a no...

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