Dreamscape makes fourth acquisition in 16 months for $8.5m

Dreamscape makes fourth acquisition in 16 months for $8.5m

Dreamscape Networks Limited (ASX: DN8) has acquired Domain Name Registrar (DNR) for $8.5 million, its fourth acquisition in the past 16 months. The acquisition is part of Dreamscape's "bolt on" strategy, as Dreamscape continues to consolidate local domain and hosting businesses under the Dreamscape Networks' umbrella. D...

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Watpac dusts off investor stoush, wins major contracts

Watpac dusts off investor stoush, wins major contracts

Listed civil contractor and developer Watpac (ASX:WTP) has shaken off the negativity of a high profile stoush among its shareholders by announcing two major contracts over the past four days. Waptac today revealed it has won a $110 million contract to design and build the new Deakin Law School building at the Burwood Campus in Melbourne. ...

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Blue Sky darkens on latest $60 million hit and share price freefall

Blue Sky darkens on latest $60 million hit and share price freefall

After exiting a trading halt on Tuesday afternoon, shares in Blue Sky Alternative Investments (ASX: BLA) immediately went into a freefall, causing more damage to the already battered investments firm. Shareholders continued to offload the embattled Brisbane-based company after it announced an expected $59.4 million hit to its FY18 profit....

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Underwater drone maker scores landmark deal with US Navy

Underwater drone maker scores landmark deal with US Navy

ASX-listed underwater drone manufacturer Aquabotix (ASX: UUV) has entered into an agreement with a major United States defence division which could help change the face of modern naval warfare. Aquabotix signed the cooperative research and development agreement with the US Naval Undersea Warfare Center to test its SwarmDiver product at th...

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Superloop acquires broadband customer database from SkyMesh

Superloop acquires broadband customer database from SkyMesh

Connectivity and broadband infrastructure provider Superloop (ASX: SLC) has purchased the fibre broadband customer base operated on the nbn network by internet service provider, SkyMesh. SkyMesh is the Australian subsidiary of Bigblu Broadband and the $1.5 million deal will add over 10,000 broadband subscribers to Superbb, the newly forme...

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John Borghetti to step down as Virgin Australia CEO

John Borghetti to step down as Virgin Australia CEO

Virgin Australia (ASX: VAH) chief executive John Borghetti will not renew his contract after 2020, ending a decade-long tenure leading the low cost carrier. The airline says the announcement has been made to allow for "ample time" to find a successor and allow for a transition and it has already begun a global search for its new...

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Blue Sky in trading halt ahead of major review

Blue Sky in trading halt ahead of major review

Shares in Blue Sky Alternative Investments (ASX: BLA) have been placed in a trading halt as the embattled fund manager prepares to release a company review and balance sheet update to the market. The Brisbane-based Blue Sky requested the trading halt until the release of the review or until the open of trading on Thursday. The review ...

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Creso Pharma scores licence to grow cannabis in Colombia

Creso Pharma scores licence to grow cannabis in Colombia

A subsidiary of Australian cannabis company Creso Pharma (ASX: CPH) has been granted a pivotal licence to grow medicinal cannabis in Colombia. Creso, through Kunna Canada, has been granted a licence to cultivate medicinal cannabis in Colombia, following the receipt of licenses required to produce, manufacture, market and export cannabis d...

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Rift opens as Watpac shareholders vote against BESIX takeover

Rift opens as Watpac shareholders vote against BESIX takeover

BESIX might walk away from Watpac (ASX: WTP) following this morning's scheme meeting where Watpac shareholders did not accept BESIX's offer to acquire a majority share of the company. At the scheme meeting held in Brisbane, Watpac's shareholders voted against the resolution relating to the BESIX takeover of 50 per cent of ordi...

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AusCann joint venture completes second cannabis harvest in Chile

AusCann joint venture completes second cannabis harvest in Chile

Listed medicinal cannabis company AusCann (ASX: AC8) has completed its second harvest with DayaCann joint venture partner Fundación Daya in Chile. The second harvest proved to be even more fruitful than the first, yielding 620kg of dried cannabis product, an increase of over 50 per cent on the 400kg yielded in the first harvest. ...

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Why AI could be an entrepreneur's best investment

Why AI could be an entrepreneur's best investment

It's easy to be swayed by doom and gloom headlines questioning whether artificial intelligence (AI) will soon replace certain human jobs for good, or, more outlandishly, become a sentient cause for concern. Thanks Terminator. Realistically however, entrepreneurs and professionals in the IT space agree that AI has inspired some of the ...

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Gold Coast training and recruitment company gets three Shark Tank 'bites'

Gold Coast training and recruitment company gets three Shark Tank 'bites'

The founders of a Gold Coast training and recruitment company have scored a Shark Tank first by securing investment from three of the sharks in a deal which values their business at $625,000. Jack Corbett and Ryan Tuckwood, founders of ISR Training, jumped into Network Ten's Shark Tank Australia hoping to get internet pioneer and Shar...

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Blue Sky confirms KPMG to carry out comprehensive review

Blue Sky confirms KPMG to carry out comprehensive review

Blue Sky Alternative Investments (ASX: BLA) has announced it is undergoing an independent valuation review of all assets by KPMG, a day after its shares took another hit on the news that it is winding up its retail domestic hedge fund. Blue Sky says KPMG is not advising Blue Sky on its business model or management structure and the review...

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Clive Palmer to reopen controversial Yabulu Nickel Refinery

Clive Palmer to reopen controversial Yabulu Nickel Refinery

Clive Palmer has announced the Yabulu Nickel Refinery near Townsville will be reopened with $500 million in cash reserves from his associated companies. The controversial former politician and chairman of QNI Resources, which owns the Yabulu Nickel Refinery, says his company has approved plans to reopen the refinery. Palmer confirmed ...

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Loss expected following Retail Food Group's rough year

Loss expected following Retail Food Group's rough year

Embattled café and pizza franchiser Retail Food Group (ASX: RFG) has issued a loss warning to cap off the company's disastrous year. The group expects FY18 underlying NPAT to be approximately $34.5 million and the statutory NPAT to be a loss of $87.6 million, which take into account substantial impairment charges the group suff...

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Jumbo Interactive lifts profit guidance on customer growth

Jumbo Interactive lifts profit guidance on customer growth

Internet lottery business Jumbo Interactive (ASX:JIN) is expecting a rise in net profit after tax (NPAT) of 45 per cent and a rise in total transactional value (TTV) of 25 per cent for the 2018 financial year. Jumbo's trading update reveals NPAT is expected to rise from $7.6 million in the prior corresponding period to around $11 mill...

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BESIX CEO threatens to drop Watpac entirely if scheme vote not passed

BESIX CEO threatens to drop Watpac entirely if scheme vote not passed

The CEO of Watpac's major shareholder BESIX, Rik Vandenberghe, has suggested the company will pull support from Watpac entirely if BESIX is not granted total control of the company. Ahead of a scheme meeting to decide the future of Watpac, where shareholders will vote on whether to grant 50 per cent of Watpac shares to BESIX, Vandenbe...

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CBA settles anti-money laundering case for $700m

CBA settles anti-money laundering case for $700m

Commonwealth Bank has agreed to pay $700 million to the anti-money laundering regulator after it admitted to breaching the law on more than 50,000 separate occasions. CBA settled its anti-money laundering and counter-terrorism case brought by AUSTRAC and also agreed to pay $2.5 million in legal fees although the agreement still needs Fede...

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BESIX confirms its final and best offer for major stake in Watpac

BESIX confirms its final and best offer for major stake in Watpac

BESIX has hit the limit with its takeover of listed construction company Watpac (ASX: WTP), today giving notice of its best and final offer for Watpac shares. Belgium-based BESIX has offered the final price of $0.92 per share to acquire 50 per cent of Watpac shares held by Watpac shareholders. In the three months since BESIX first pro...

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eBay takes on Australian retailers and Amazon with unlimited delivery plan

eBay takes on Australian retailers and Amazon with unlimited delivery plan

Online retail behemoth eBay is set take on rival Amazon with a new shopping membership program for Australian online shoppers. The arrival of eBay Plus is also expected to provide further upheaval for Australia's struggling "bricks and mortar" retailers with shoppers to be given unlimited  deliveries and returns on new ...

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Brisbane's Top 50 Companies 2018 revealed

Brisbane's Top 50 Companies 2018 revealed

The top 50 from Brisbane are an integral part of the Australian economy with a combined market capitalisation of $124 billion in businesses which employ more than 150,000 people directly. From insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have all had their fair share of issues to de...

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Shine becomes latest class action firm to take a crack at AMP

Shine becomes latest class action firm to take a crack at AMP

Shine Lawyers (ASX: SHJ) has filed a class action lawsuit against AMP (ASX: AMP) in the Federal Court, becoming the third firm to officially launch proceedings against the financial services giant. Supported by litigation funder Augusta Ventures, Shine will argue that AMP mislead and deceived its customers over financial advice which it c...

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Optus to phase out Virgin Mobile brand

Optus to phase out Virgin Mobile brand

Optus will phase out Virgin Mobile Australia and will close 36 stores across Australia just a day after it was hit with a $1.5 million fine for misleading customers over the NBN. The giant telco will close down Virgin Mobile over the next two years with around 200 jobs to be cut. Virgin Mobile Australia has been owned and co-owned by ...

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Mantra set to delist from ASX as Federal Court approves takeover

Mantra set to delist from ASX as Federal Court approves takeover

Mantra Group's (ASX: MTR) proposed takeover by French accommodation giant Accor has been given the green light by the Federal Court and its shares have been suspended, effectively ending the company's "life" as an ASX-listed company. The Federal Court orders have been lodged with the Australian Securities and Investments...

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Easter bigger than games for Gold Coast Airport

Easter bigger than games for Gold Coast Airport

EASTER appears to have been a bigger tourism event for Gold Coast Airport than the Commonwealth Games if the latest passenger numbers are any guide.

Just under 11,000 extra passenger numbers were recorded by the airport over April, representing a 1.9 per cent increase compared to a year ago.
This is despite the rush of visitors expected into...

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Optus fined for misleading customers over NBN

Optus fined for misleading customers over NBN

Optus has been slapped with a $1.5 million fine by the Federal Court for making misleading statements to its customers regarding their transition to the NBN. The telco was ordered to pay up after it told 14,000 customers, between the dates of October 15 and March 17, that their services would be disconnected if they didn't move to the...

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Bidding war looms for outdoor advertising giant

Bidding war looms for outdoor advertising giant

A BIDDING war for a bigger slice of the lucrative outdoor advertising sector appears to be on the cards as APN Outdoor Group (ASX:APO) reveals it is offering $500 million for the Adshel business. The indicative offer for Adshel, owned by Here There & Everywhere (ASX:HT1) and operator of Australia's largest street furniture adverti...

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Toys 'R' Us demise sparks industry shakeup

Toys 'R' Us demise sparks industry shakeup

Toys 'R' Us has fallen into voluntary administration and it could herald major changes to the international toy industry. Following the demise of the chain both in Australia and overseas, analysts say a merger boom is on the cards as smaller toy manufacturers aim to recoup their presence in the market. Smaller toy makers who t...

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"Myer is in peril" declares Solomon Lew in heated letter to shareholders

"Myer is in peril" declares Solomon Lew in heated letter to shareholders

Solomon Lew has slammed Myer (ASX: MYR) and its executives in an acrimonious letter to shareholders, warning that the company is on the cusp of a devastating net loss at the full year. As chair of Premier Investments, Myer's biggest shareholder, Lew made his outrage clear at executive chairman Garry Hounsell's announcement earlier...

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NYC venture capitalist on what's really killing Aussie startups

NYC venture capitalist on what's really killing Aussie startups

As technology continues to scale and artificial intelligence (AI) becomes smarter and more autonomous, the question on everyone's lips is 'will AI ever run me out of business?' Jacqueline Garavente doesn't think so. As a prominent venture capitalist at Union Square Ventures (USV) in New York, Garavente knows more about...

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