Gold Coast Articles

NAB takes $525M hit as it repays short-changed customers

NAB takes $525M hit as it repays short-changed customers

National Australia Bank (ASX: NAB) has copped a $525 million cost to repay aggrieved customers in the wake of the banking Royal Commission. This $525 million after tax ($749 million before tax) bill accounts for increased provisions for NAB's customer-related remediation program and is expected to cut its 1H19 cash earnings by a whopp...

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MGC Pharma secures Chinese distribution agreement for CBD based products

MGC Pharma secures Chinese distribution agreement for CBD based products

Chinese demand for Australian products like skincare, vitamins, and produce is no secret but it seems that Australian cannabis manufacturers are now looking to the Asian giant for distribution. MGC Pharma has signed a distribution agreement with Chinese e-commerce import platform YuShop Global to sell the company's CBD and hemp-enhanc...

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Smiles Inclusive takes founder Mike Timoney to court

Smiles Inclusive takes founder Mike Timoney to court

Divided dental company Smiles Inclusive (ASX: SIL) has commenced legal proceedings against beleaguered founder Mike Timoney (pictured) alleging serious misconduct and breaches of the law. The action follows the substantial completion of an interim investigation into the conduct of the ousted former CEO who remains on the board along with ...

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Booktopia falls well short of $10M crowdfund target

Booktopia falls well short of $10M crowdfund target

What was heralded as Australia's largest-ever equity crowdfunded capital raise through Equitise is a long way from achieving its targets with just 60 days to go before the offer expires. In November, the country's leading online bookseller Booktopia announced it was offering 8.1 per cent of the business to investors with plan...

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Dulux board agrees to $4.2 billion takeover by Nippon

Dulux board agrees to $4.2 billion takeover by Nippon

Japan's Nippon Paint has made a $4.2 billion offer to acquire DuluxGroup (ASX: DLX) and the Aussie paint empire has given its unanimous thumbs up, urging shareholders to accept the deal. Nippon has offered to buy the company for a 100 per cent cash consideration of $9.80 per share which represents a substantial 27.8 per cent premium t...

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ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

Bupa has come under fire from the Australian Competition and Consumer Commission (ACCC) for allegedly charging elderly residents thousands of dollars for services they never provided. The ACCC says Bupa Aged Care Australia made false or misleading representations to its aged care residents in 21 homes about services it did not provide or ...

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Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

The rising number of Australians concerned with what they consume is causing chocolatiers to change their product offerings around Easter according to a report by IBISWorld. Whilst the anticipated Easter chocolate spend in Australia will continue to grow this year chocolatiers are being pushed to produce more premium and healthier Easter ...

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Citi to refund $3M over complex investment losses

Citi to refund $3M over complex investment losses

One of the world's largest banks will refund more than $3 million to Australian customers over losses from complicated fixed coupon structured products, following an investigation from the country's financial watchdog. The Australian Securities and Investments Commission (ASIC) put Citigroup under the microscope to examine ho...

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Easter to sweeten cashiers in retail trading spike

Easter to sweeten cashiers in retail trading spike

Retailers from supermarkets to bottle shops to fishmongers have geared up for a flurry of activity this week as shoppers hop into stores to stock up for Easter. Australian Retailers Association (ARA) executive director Russell Zimmerman says while many stores stock their shelves with Easter products just after New Year, the majo...

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Dairy-Free Down Under dares to be different

Dairy-Free Down Under dares to be different

One of Australia's only large-scale vegan cheese and dip manufacturers is gaining traction in retail, restaurant and export channels as it cuts a slice of the rapidly-growing market for plant-based foods. Development of the Gold Coast-headquartered brand Dairy-Free Down Under started in 2015, but it wasn't until March 2018 th...

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Little Tokyo Two placed into voluntary liquidation

Little Tokyo Two placed into voluntary liquidation

Serial entrepreneur Jock Fairweather's (pictured) incubator and co-working space Little Tokyo Two (LT2) has been placed into voluntary liquidation. The four-year-old project has apparently suffered from new competition in the space, leading Fairweather to announce the liquidation of the business. In a letter to supporters Fairweat...

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ACCC takes iSelect to court over its allegedly misleading comparison tool

ACCC takes iSelect to court over its allegedly misleading comparison tool

Comparison service iSelect has wound up in court after the Australian Competition and Consumer Commission (ACCC) alleged that its energy plan comparison service was misleading. The watchdog alleges that since November 2016 iSelect has claimed consumers using its website would benefit from iSelect comparing all plans available from its par...

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Xenith gives in and backs IPH takeover offer

Xenith gives in and backs IPH takeover offer

The materialisation of a mega-firm in the world of intellectual property is one step closer this morning as Xenith IP Group (ASX: XIP) supports a takeover from Australia's largest firm. The board of Xenith has confirmed that it unanimously backs the updated IPH (AX: IPH) offer of an implied value of $2.15 per Xenith share. Under t...

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QANTM backs down on Xenith merger

QANTM backs down on Xenith merger

The battle for control of intellectual property business Xenith IP Group (ASX: XIP) has more or less come to a close now that QANTM (ASX: QIP) has backed out of the ring. After QANTM's rival in the courtship of Xenith, IPH (ASX: IPH), increased its takeover bid Xenith gave QANTM until Thursday 11 April to match the bid. But today,...

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Sidelined JV partners weigh in on Smiles Inclusive board stoush

Sidelined JV partners weigh in on Smiles Inclusive board stoush

Joint venture partners of struggling dental practice Smiles Inclusive (ASX: SIL) are hopeful the current board upheaval could pave the way for an "amicable solution" to a problem they allege has cost around $20 million in lost profit share. Australian Aged Dental Care, which trades as Australian Mobile Dental Care, was one ...

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Medicinal cannabis patient numbers "starting to spike" for Althea

Medicinal cannabis patient numbers "starting to spike" for Althea

Althea now has more staff in London than Melbourne, with expectations its expertise from Australia will bring an advantage over large competitors who have traditionally dealt with easier operating environments. As a relative newcomer to the medicinal cannabis space that only supplied to four patients 11 months ago, Melbourne-based Althea ...

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Seven offloads Yahoo7 to Verizon

Seven offloads Yahoo7 to Verizon

Seven West Media (ASX: SWM) has today completed the sale of its 50 per cent interest in Yahoo7, with American communications giant Verizon picking up the business for $21 million. Seven now fully owns and operates all of its 'direct to consumer' digital products following the divestment of its share in Yahoo7. When Seven annou...

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Loose lips sink ships, Wynn ditches $10 billion Crown takeover

Loose lips sink ships, Wynn ditches $10 billion Crown takeover

Just one day after the soft announcement of a $10 billion takeover of Crown Resorts (ASX: CWN) by Las Vegas based Wynn Resorts the latter has terminated all discussions about the transaction. The American resort chain released a short statement on Tuesday (US time) saying that the sudden and early announcement of the potential takeover pu...

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Rise of veganism is threatening Aussie meat and dairy, warns analyst

Rise of veganism is threatening Aussie meat and dairy, warns analyst

Veganism may have dominated national headlines this week for controversial reasons, but there's no denying the lifestyle choice is gaining fast momentum. So much so that the future growth of the Australian meat and dairy industry is being called into question. A report by IBISWorld claims that rising veganism is threatening demand...

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Three reasons why mastering data could be your biggest benefit

Three reasons why mastering data could be your biggest benefit

Big data is more than just a buzz-term, it's how we quantify everything these days. From website interactions, to the productivity of employees and the nitty gritty of spending, proper data use is essential to guiding a business in the right direction. According to the Harvard Business Review, 48.4 percent of the Fortune 1000 comp...

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Domino's partners with Google on Assistant support

Domino's partners with Google on Assistant support

Voice-activated tech is quickly taking over our bedrooms, living spaces, and our smart phones, so it's no wonder that fast-food companies are getting in on the action. Domino's (ASX: DMP) has announced that it has partnered with Google to allow customers to place and track orders via the Google Assistant. Customers with a Goog...

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Wynn Resorts proposes Crown takeover deal

Wynn Resorts proposes Crown takeover deal

Crown Resorts (ASX: CWN) has confirmed it is in discussions with Wynn Resorts regarding a potential takeover of Crown. The proposal from Las Vegas-based Wynn is worth around $10 billion, and would involve a 50-50 cash-scrip deal with an implied value of  $14.75 per share. The proposal is subject to due diligence and could change ...

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Napoleon Perdis saved by daigou legend Livia Wang

Napoleon Perdis saved by daigou legend Livia Wang

Australian cosmetics brand Napoleon Perdis has been given a second chance by a superfan of the company Livia Wang (pictured). Wang, a prominent personal shopper or 'daigou' legend for the Chinese market, and Henry Lee have saved Napoleon Perdis from liquidation. Creditors voted to support Wang and Lee's bid yesterday after...

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IPH lifts takeover bid: Is Xenith shifting allegiances?

IPH lifts takeover bid: Is Xenith shifting allegiances?

Shares in intellectual property company Xenith (ASX: XIP) have risen 8.85 per cent this morning after suitor IPH (ASX: IPH) increased its takeover bid for the company to an implied value of $2.15 per share. For months Xenith has stood by its proposed merger with QANTM Intellectual Property (ASX: QIP), but now it is giving the group until ...

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Mogul steps up its game with Australia's largest Apex Legends tournament

Mogul steps up its game with Australia's largest Apex Legends tournament

ASX-Listed esports platform Mogul (ASX: ESH) is proving video games are serious business. It has only been two weeks since the tech tournament organiser signed a landmark partnership with Adelaide Crows subsidiary Legacy Esports, and now Mogul is kicking another major goal by launching its Australian Apex Open tournament. Apex Legends...

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Saudi company buys 200,000ha of Australian farmland

Saudi company buys 200,000ha of Australian farmland

The Nicoletti family in Western Australia has sold 200,000ha of farmland to the Saudi Agricultural and Livestock Investment Company (SALIC) in a deal the ABC reports to be worth around $60 million. The buyer, which is a joint stock company owned by Saudi Arabia's Public Investment Fund, received approval for the transaction last ...

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Flight Centre bets on corporate travel tech with US investment

Flight Centre bets on corporate travel tech with US investment

Brisbane-based travel agency Flight Centre (ASX: FLT) is raising its forward-thinking profile on the world stage today after securing a 25 per cent interest in US technology-driven business The Upside Travel. The investment makes Flight Centre the largest single shareholder in the Washington DC-headquartered group that was launched by Pri...

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Ardent Leisure takes out $225M loan to revive theme parks and grow US footprint

Ardent Leisure takes out $225M loan to revive theme parks and grow US footprint

Ardent Leisure (ASX: ALG) has announced the completion of a US$225 million loan facility which it will use to revive its theme parks division, including Dreamworld and WhiteWater World, and grow its presence in the US. The combined facility is made up of a US$125 million drawn term loan, a US$75 million delayed draw term loan and a US$25 ...

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Faceboook data from over 540 million users found exposed online

Faceboook data from over 540 million users found exposed online

Just two weeks after a data scare that left millions of users' passwords compromised Facebook has had another data breach. The UpGuard Cyber Risk Team has discovered that two third-party developed Facebook app datasets have been found exposed online. One of these, originating from Mexican media company Cultura Colectiva, contains ...

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Retail Food Group fails to sell Donut King

Retail Food Group fails to sell Donut King

Negotiations to divest the Donut King and quick service retail (QSR) divisions of Retail Food Group (ASX: RFG) have ended without a sale for the embattled company. RFG says that a formal binding agreement could not be reached with the party interested in taking the two divisions off RFG's hands. "Our Donut King and QSR brands...

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