Court approves history-making settlement between Comm Bank and AUSTRAC

Court approves history-making settlement between Comm Bank and AUSTRAC

The Federal Court has today approved settlement between Commonwealth Bank (ASX: CBA) and the Australia Transaction Reports and Analysis Centre (AUSTRAC) over the anti-money laundering case which was brought against the financial services giant in August last year. CBA agreed in early June 2018 that it would pay $700 million in civil penal...

Read More...
Bubs enters into trading halt ahead of capital raising announcement

Bubs enters into trading halt ahead of capital raising announcement

After last week's news that Bubs Australia (ASX: BUB) is making a significant push into the Chinese market the company has entered into a trading halt on Thursday morning. The company says the trading halt has been requested pending an announcement by Bubs in relation to a capital raising. Last Friday the Australian infant milk fo...

Read More...
AMP faces class action over Royal Commission scandal

AMP faces class action over Royal Commission scandal

Less than a week after the resignation of its CEO Craig Meller, AMP is facing a potential class action lawsuit from Quinn Emanuel Urquhart & Sullivan (QE) on behalf of aggrieved shareholders. QE announced that it will investigate a class action against the financial services giant which has admitted to lying to its customers and regul...

Read More...
Google to ban all cryptocurrency ads from June 2018

Google to ban all cryptocurrency ads from June 2018

In a move that is sure to ruffle a few feathers in Silicon Valley, Google is set to ban all cryptocurrency advertising and initial coin offerings (ICO's) from June 2018. The move is part of a new financial product policy set to come into effect from June 2018, and sees all ads about cryptocurrency and related content banned, including...

Read More...
Chinese demand for Australian wine pushes towards $1b

Chinese demand for Australian wine pushes towards $1b

EXPORTS of Australian wine to mainland China have soared by 63 per cent to a record breaking $848 million in 2017. China accounted for a third of total exports by value last year, with growth to the Asian powerhouse offsetting declines in exports to the US, UK, and Canada. Overall, Australian wine exports were worth $2.56 billion in 2...

Read More...
Mining sector on the mend with strong growth poised for 2018 and beyond

Mining sector on the mend with strong growth poised for 2018 and beyond

ACTIVITY in Australia's mining sector is set to accelerate in 2018 according to a recent report from BIS Oxford Economics. The industry is poised to grow through 2018 and beyond, arguing well for exports and the broader Australian economy, with mining exploration, production, and maintenance are all expected to lift significantly thro...

Read More...
GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

THE QUEENSLAND Government has announced its latest plan to support Queensland-based businesses through the new 'Buy Queensland' initiative. The new plan, which will prioritise Queensland goods and services, will apply across all agencies, statutory bodies, and government owned corporations. The Queensland cabinet has agreed, i...

Read More...
MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT Limited (ASX: MP1) has seen its share price rise by almost two per cent following the announcement of strong results for the June 2017 quarter. The group, who delivers internet connectivity solutions to businesses, saw their revenue for the June quarter increase by 18 per cent compared to the previous quarter to $3.47 million. ...

Read More...
NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific Data Centre (ASX: AJD) after it launched a fully funded $1.85 a share cash offer for the company. The takeover bid trumps the offer made by 360 Capital to acquire all the securities in APDC for $1.80 per share. NEXTDC CEO ...

Read More...
SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent research suggests that cash doesn't always talk. A study, commissioned by specialised recruiter Robert Half surveying 160 chief financial officers in Australia, shows more than 94 per cent of Australian CFOs have extended cou...

Read More...
WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Hastings Management, a global infrastructure-assets business with funds under management of about $14.3 billion. Charter Hall is considering the purchase of Hastings following the completion of due diligence and regulatory ...

Read More...
ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

SMALL business owners have been urged to review their payment surcharges ahead of the ban on excessive payment surcharges in force 1st September. The ACCC recommends small businesses assess their current surcharge models before the law comes into force, which limits the amount a business can charge customers for use of EFTPOS, MasterCard,...

Read More...
CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

THE BANK LEVY imposed on the so-called 'Big Five' should be extended to include all government-licenced companies with a turnover of $1 billion or more, according to Yellow Brick Road executive chairman Mark Bouris.

Speaking at the launch of 2017 Gold Coast Queensland Small Business Week, Bouris also says the money raised should be us...

Read More...
BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

ANALYSTS say that the public infrastructure and construction industry has emerged among the clear winners from last Tuesday's budget, as BIS Oxford Economics forecasts imminent major growth across the sector. Funds allocated from the 2017 Federal Budget will help drive an estimated 30 per cent growth for the industry, which is already...

Read More...
BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

THE BANK of Queensland (ASX: BOQ) is expected to be a major beneficiary of the Federal Government's bank levy which was introduced in Tuesday's Budget. The Government levy will raise $1.5 billion a year over the next four years, or around five per cent of the profits from the so-called 'Big Four' which includes Commonwealt...

Read More...
SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie thanks to its main catastrophe program and the purchase of an additional cover.

As the category three cyclone intensifies and heads towards the north Queensland coast between Townsville and Mackay causing forced evacuations, th...

Read More...
SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from the venture capital fund it has set up in partnership with Artesian Venture Partners and industry superannuation fund Hostplus.

This follows the SproutX pre-accelerator program, held in late 2016, where 110 startups and entr...

Read More...
WHY NEXTDC'S STOCK IS SOARING

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.

The Brisbane data centre company reported a revenue rise of 39 per cent to a company record of $58.7 million.

NEXTDC took in earnings before interest, taxes, depreciation and amortisation (EBITDA) of $23.9 million for th...

Read More...
EML'S EARNINGS SOAR

EML'S EARNINGS SOAR

EML Payments' (ASX: EML) earnings have soared 226 per cent for first half 2017.

The Brisbane payments provider took in $9.96 million in earnings before interest, taxes, depreciation and amortisation.  Depreciation in the Sterling relative to the Australian Dollar in fact lowered this result by $1 million.

EML generated 85 p...

Read More...
ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

WITH a view to tapping the $600 billion self-managed superannuation fund (SMSF) market, Brisbane-based Arminius Capital has launched flagship funds for retail investors. Arminius Managing Director Marcel von Pfyffer announced the launch of the Global Macro Multi Asset (GMMA) and Executive Money Market Account (EMMA) funds, which the compa...

Read More...
CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

INDUSTRIAL and Commercial Bank of China (ICBC) has opened its second Australian branch in Brisbane to support international trade. ICBC already operates an international branch in Sydney, while building on the financial institution's representative office in Brisbane. Acting Premier and Treasurer Curtis Pitt says the move demonstr...

Read More...
TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

INTERNATIONAL tourists flocked to Australia in FY16 with the tourism industry growing three times faster than the broader economy. Figures from Tourism Research Australia show there was a record 7.2 million international visitors in the 12 months to June 30, up 10 per cent on the previous year. The level of spending grew at a faster r...

Read More...
BRISBANE BRIDGES ASIA WITH SRI LANKA

BRISBANE BRIDGES ASIA WITH SRI LANKA

THREE Brisbane companies just invested more than $150,000 dollars in Sri Lanka. In a business 'matchmaking' event, more than 25 Sri Lankan tech businesses pitched Australian delegates for investment at a business event held by the Sri Lanka and Australia Chamber of Commerce (SLACC) earlier this year. SLACC President Kalum De S...

Read More...
CEO RESIGNS AS CARDNO POSTS LOSS

CEO RESIGNS AS CARDNO POSTS LOSS

CARDNO (ASX: CDD) is still in the red this year, with the company posting a $176 million net loss earlier today. While this current figure improves on last year's $245 million full year loss, it once again reflects heavy industry pressure and poor performance across numerous markets, particularly the American resource sectors. The...

Read More...
SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER Chef (ASX: SIV) dished out a net profit after tax of $22.4 million for the financial year, delivering a new CEO with the news.  The result includes a one-off after tax break cost of $1 million arising from the early redemption of $30 million of loan notes on 14 September 2015. The Brisbane-based equipment funding company d...

Read More...
MARKET CONDITIONS FLICK THE SWITCH ON ERM

MARKET CONDITIONS FLICK THE SWITCH ON ERM

LIGHTS are dim for ERM Power (ASX: EPW) today as the electricity provider posted a $30 million drop in profit, with its overall FY16 performance plugged to industry volatility. Despite a revenue increase of 19 per cent to $2.7 billion overall, the Brisbane company saw a sharp 46 per cent fall in statutory net profit from $65.9 million in ...

Read More...
WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

SPENDING 12 months riding a down-turning industry, Watpac Limited (ASX: WTP) has emerged a little bruised, yet not completely out for the count, following its full year result. Posting a statutory loss after tax this morning of $21.4 million, down from an $11.5 million loss in FY15, the Brisbane giant admits its result was once again affe...

Read More...
EWM GROUP SIMPLIFIES PHILANTHROPY

EWM GROUP SIMPLIFIES PHILANTHROPY

BRISBANE family office EWM Group has made it easier for clients to give back with the launch of a specialist philanthropy offering. GivingSimple offers advice on how individuals, families and businesses can support communities, charities and causes of their choice without having to establish their own philanthropy structure. Donors ca...

Read More...
CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

COMMUTERS are set to benefit from cheaper fares following a major overhaul in south-east Queensland's public transport system. Under the Palaszczuk Government's Fairer Fares package, single zone travel during peak time will be reduced from $3.35 to $3.20 from next year. Customers will be able to travel further within a zone, w...

Read More...
STORM DAMAGE CLAIMS HIT $38M

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million. The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall. ICA acting CEO Karl Sullivan...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter