Offshore buyers may fill the void as BP dumps bid for Woolies petrol

Offshore buyers may fill the void as BP dumps bid for Woolies petrol

The national retail petrol market could open up to new competition after BP Australia pulled out of an ambitious $1.8 billion plan to buy Woolworths' retail fuel network.

At least three international parties have been rumoured to be in the running for the acquisition, namely private equity group Kohlberg Kravis Roberts, Canadian retail fu...

Read More...
Bellamy's organic movement hits Tasmania

Bellamy's organic movement hits Tasmania

Bellamy's (ASX: BAL) has made a $5.5 million investment to assist Tassie farmers in transitioning to organic practices. The infant formula producer has signed a deal with global dairy giant Fonterra to help Tasmanian farmers switch to organic practices, in an effort to increase the local supply. Bellamy's will make an initial ...

Read More...
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...
Satellite company Kleos Space set to launch

Satellite company Kleos Space set to launch

A highly successful seed-funding round in Australia earlier this year prompted Luxembourg-based tech company Kleos Space to seek a listing on the ASX, but according to chairman Peter Round this is no start-up venture. "Technically we're a start-up because of the timing of when the company began, but we're not a start-up in te...

Read More...
Cannabis companies hit new high with fresh capital

Cannabis companies hit new high with fresh capital

Two of Australia's leading listed cannabis players have raised millions in funds to boost their businesses in Australia and overseas. Botanix Pharmaceuticals (ASX: BOT), a medical dermatology company combatting serious skin diseases with cannabis-based products, has successfully completed an oversubscribed placement to raise $8 millio...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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. ...

Read More...
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 ...

Read More...
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...

Read More...
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...

Read More...
AccorHotels completes $1.2 billion Mantra Group acquisition

AccorHotels completes $1.2 billion Mantra Group acquisition

AccorHotels is now the proud owner of a number of iconic Australian hotels after completing the $1.2 billion acquisition of Mantra Group. The company announced on Thursday afternoon that the acquisition of Mantra Group has been completed, bringing the Mantra, Peppers, BreakFree, and Art Series brands under the Accor brand. The deal in...

Read More...
RFG head steps down from embattled franchise owner

RFG head steps down from embattled franchise owner

The CEO of under-fire cafe and pizza franchiser Retail Food Group (ASX: RFG), Andre Nell, has been replaced and will leave the company immediately. Nell, the managing director, will leave RFG today to be replaced by Richard Hinson who joined the company in January to lead a strategic review of the business. RFG, which operates food fr...

Read More...
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 ...

Read More...
Alford ramps up his exit of RFG shares

Alford ramps up his exit of RFG shares


Retail Food Group founder Tony Alford continues to cash in his shareholding in the troubled franchising company, pocketing about $6.3 million from the latest sale announced overnight. Alford has sold 7.5 million RFG shares since the beginning of May, coming on the heels of a series of share disposals over the past seven months. The...

Read More...
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 ...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
"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...

Read More...
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...

Read More...
The five keys to a better customer service strategy

The five keys to a better customer service strategy

In the world of business, it is not so much what you offer that counts but how you offer it. The way you satisfy your customers is what turns them into repeat buyers who deliver positive word-of-mouth messages about your brand to other people. Customer satisfaction has the potential to boost your bottom line and impact your ultimate s...

Read More...
MGC Pharma launches new cannabidiol skincare product

MGC Pharma launches new cannabidiol skincare product

Listed cannabis company MGC Pharma (ASX: MXC) has launched a new cannabis infused skincare product through its subsidiary MGC Derma. Called CBD Herbal Replenish Cream, the product is specifically developed for external skin care and relief from inflammatory skin conditions. The new cream is the second skincare product launched th...

Read More...
Steve Baxter looking to sell River City Labs, according to reports

Steve Baxter looking to sell River City Labs, according to reports

Queensland's chief entrepreneur and 'Shark Tank' star Steve Baxter is reportedly looking to sell River City Labs, the Brisbane startup hub which he founded seven years ago. It's believed the reason behind the sale is not a financial one and that he believes River City Labs, which mentors young entrepreneurs in a co-working...

Read More...
Twitter passwords compromised following system glitch

Twitter passwords compromised following system glitch

Twitter has warned its users to update their passwords on the social media site following a system bug which has compromised users' passwords. Usually when setting a password on Twitter, the entry is stored via technology which masks it so that it can't be seen by company staff. Twitter's Chief Technology Officer Parag Agr...

Read More...
Esprit to exit the Australian market, closing 67 outlets

Esprit to exit the Australian market, closing 67 outlets

American fashion retailer Esprit is set to exit the Australian and New Zealand market by the end of the year.  After failing to turn around its loss-making operations, the retailer which is based in Germany and Hong Kong will close its 67 stores in the ANZ region. The group, which has been operating in Australia since the 1980s, ...

Read More...
Zelda Therapeutics makes significant progress in medicinal cannabis research programs

Zelda Therapeutics makes significant progress in medicinal cannabis research programs

Listed medicinal cannabis company Zelda Therapeutics (ASX: ZLD) has made progress in a number of key research programs during the March 2018 financial quarter. Zelda recently received approval for a major study into the pharmacology of cannabinoids in the treatment of paediatric autism patients. The study is set to be conducted at the...

Read More...
Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia doubles its readership with big gains in Melbourne and Sydney

Business News Australia has confirmed it is the fastest growing independent business news website, by more than doubling its unique visitors and total page views over the past year. The total number of unique visitors to www.businessnewsaus.com.au rose to 55,600 for the month of April, which is up by 108 per cent from the previous year. ...

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