Fitness First penalised for short-changing customers via surcharges

Fitness First penalised for short-changing customers via surcharges

Fitness First has paid a penalty of $12,600 after the Australian Competition and Consumer Commission (ACCC) found that the gym chain was excessively surcharging its customers on card payments. The ACCC issued an infringement notice against Fitness First after it investigated concerns against the company's flat fee surcharge on members...

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Former Sirtex CEO charged with insider trading as class action looms

Former Sirtex CEO charged with insider trading as class action looms

Within days of biotech company Sirtex Medical Limited delisting from the ASX following its takeover from China's CDH Investments for $1.9 billion, former CEO Gilman Edwin Wong has been charged with insider trading. The Australian Securities and Investments Commission (ASIC) alleges Wong, who was also a director of the radioa...

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Huxley School of Makeup lays foundation for success with "first of its kind" TAFE deal

Huxley School of Makeup lays foundation for success with "first of its kind" TAFE deal

After the milestone of managing makeup for 7,000 people at the Commonwealth Games this year, Gold Coast entrepreneur Michael Huxley is stepping up to the podium with confidence after a big win with TAFE Queensland. He says the Huxley School of Makeup is now "future proofing" the business through an official partnership with Tafe...

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Premier Investments bucks retail slump with record sales

Premier Investments bucks retail slump with record sales

Premier Investments (ASX: PMV) notched outstanding retail sales results in FY18 with a solid contribution from online, but a revaluation of one of its brands ultimately drove profits southward. Taking stock of an increasingly competitive apparel retail sector in Australia and New Zealand, an impairment expense of $30 million for Just...

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The Agency set to acquire Top Level on $13.4m capital raising

The Agency set to acquire Top Level on $13.4m capital raising

The Agency Group (ASX: AU1) is going ahead with its acquisition of Top Level Real Estate, after securing $13.4 million in new equity. The Agency emerged from a trading halt this morning to announce that it will acquire the fast-growing Sydney firm upon raising $8.4 million from a share placement and $5 million from converting Top Level...

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Aged care providers tank in wake of royal commission announcement

Aged care providers tank in wake of royal commission announcement

After Prime Minister Scott Morrison announced a royal commission into Australia's aged care system the preeminent providers of the service on the ASX saw their shares take a tumble. At 12.20pm AEST Aveo is down 4.28 per cent to $2.16, Estia is down 18.3 per cent to $2.41 per share, Japara is down 14 per cent to $1.44, and Regis Health...

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ANTG forms partnership to export Aussie cannabis to Germany

ANTG forms partnership to export Aussie cannabis to Germany

As the global cannabis market continues to expand at a serious pace, Aussie cannabis companies are reaching out globally to form a powerhouse export market. Australian Natural Therapeutics Group (ANTG)  has recently announced a partnership that will allow it to export its cannabis for German patients. In partnership with Cannamed...

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ASIC to take second bite of the pie in ANZ cartel scandal

ASIC to take second bite of the pie in ANZ cartel scandal

Back in June, ANZ, Citigroup, and Deutsche Bank got caught up in a widely publicised scandal relating to alleged criminal cartel charges. The Australian Securities and Investments Commission laid charges against the banks and several senior personnel from each of the financial institutions. Today, ASIC has once again gone after ANZ fo...

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Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

The Scurr family and their company Piñata Farms have invested substantial sums to develop some of Australia's most advanced strawberry operations, including high-tech hydroponic substrate farming, new varieties and even metal detectors in the packhouse. But the latter was done to avoid stray rocks or jewellery, not needles like...

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National Vet Care buys NZ group for $23m

National Vet Care buys NZ group for $23m

National Veterinary Care (ASX: NVL) may need to consider a name change as it grooms an international business through the acquisition of Pet Doctors Group in New Zealand. After a trading halt on Monday and an oversubscribed placement offer that raised $18 million yesterday, the Gold Coast-based group today announced it would be purchasing...

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Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Myer's (ASX: MYR) leading shareholder has demanded chairman Garry Hounsell "step down immediately" after the retailer reported a net loss in FY18 that is almost $130 million larger than its market capitalisation. Premier Investments Limited has been consistently railing against the Myer board's decisions over the past ye...

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Another "disappointing" result for Myer as profits slide

Another "disappointing" result for Myer as profits slide

"These results are obviously disappointing and shareholders deserve better," says Myer CEO John King. One of Australia's biggest retail brands has reported a 52 per cent plunge in profit for a financial year marked by shareholder indignation at a disappointing discount program that failed to deliver results. The bottom l...

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AusCann lists on US stock exchange to boost international operations

AusCann lists on US stock exchange to boost international operations

One of Australia's leading listed cannabis companies has jumped across the Pacific to list on one of America's leading stock exchanges. AusCann Group (ASX: AC8) has commenced trading on the US OTCQX Market under the stock symbol ACNNF. The OTCQX is an investor-focused US market featuring US and global companies. To qualify for...

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Gold Coast Convention and Exhibition Centre earns world first 'green' award

Gold Coast Convention and Exhibition Centre earns world first 'green' award

The Gold Coast Convention and Exhibition Centre (GCCEC) is a leader in environmental and social sustainability in the Convention Centre space. The centre's credentials are so impressive that it has just been awarded EarthCheck's coveted Platinum Certificate along with the Adelaide Convention Centre the first Convention Centres in ...

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Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon is launching a full-on assault on Australia's financial institutions in a campaign to secure more than one billion dollars in super from the banks. Their campaign is called Get Your Super Back and it is shaping up to be an intensive, lengthy, and expensive battle. "Slater and Gordon will take on the banks on...

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Yellow Brick Road rejects takeover, talks up bidding war

Yellow Brick Road rejects takeover, talks up bidding war

Financial services group Yellow Brick Road (ASX:YBR) has urged shareholders to reject a $25.4 million takeover bid by corporate raider Sir Ron Brierley, while indicating that a potential bidding war could be on the horizon for the company. In a letter to shareholders, the Mark Bouris-led group argues that the offer from Mercantile Investm...

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Zelda secures partnership to crack the German medicinal cannabis market

Zelda secures partnership to crack the German medicinal cannabis market

With the medicinal cannabis movement expanding globally, Australian pharmaceutical group Zelda Therapeutics (ASX: ZLD) are riding the wave not just at home but abroad too. On Tuesday, the company announced a partnership with German medicinal cannabis company HAPA Medical that provides HAPA with first rights to distribute and manufacture Z...

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CannPal steps up testing of cannabis drug for pets

CannPal steps up testing of cannabis drug for pets

After successfully testing its cannabis-derived pain formulation on a group of Beagles and Foxhounds, CannPal Animal Therapeutics (ASX:CP1) has begun a new phase of its study into determining safe dosages for pets. CannPal declared the Phase 1A pharmacokinetic and safety study for the CPAT-01D formula a success after testing of 11 dogs sh...

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Retail Food Group tops off horror year with $306m loss

Retail Food Group tops off horror year with $306m loss

Embattled franchise operator Retail Food Group (ASX:RFG) capped off a horror year by posting a $306.7 million bottom-line loss and revealing it remains at 'significant risk' of breaching debt covenants over the next 12 months.

The loss, the first time the Gold Coast-based company has plunged into the red in any financial year as ...

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Eureka profits slashed and poor performing Couran Cove disposed of

Eureka profits slashed and poor performing Couran Cove disposed of

Listed aged care provider Eureka Group (ASX: EGH) has had a tough year, and it's reflected in the company results. Revenue and earnings were down across the board, but profit took the biggest hit for Eureka. The company recorded a loss of $276,000 for FY18, down 104.2 per cent from a $6.5 million profit in FY17. Revenue dived ...

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TPG, Vodafone agree to form $15b telco powerhouse

TPG, Vodafone agree to form $15b telco powerhouse

TPG Telecom (ASX: TPG) and Vodafone Hutchison Australia (VHA) are set to join forces after agreeing to a merger that would create a fully integrated telecommunications operator with an enterprise value of $15 billion. In an announcement to the Australian Stock Exchange this morning, the companies said the proposed deal would create a &quo...

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Yellow Brick Road to beef up lending with $300m facility

Yellow Brick Road to beef up lending with $300m facility

Update: Since this story was published YBR has advised that negotiations with the bank have terminated. Click here for more.  Financial services group Yellow Brick Road (ASX:YBR) is on track to beef up its loan business after confirming that one of the big four banks is poised to provide it with a $300 million residential mortgage-ba...

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Tougher staffing ratios for childcare centres hit G8's profit

Tougher staffing ratios for childcare centres hit G8's profit

Tough new rules on staffing levels have hit the bottom line of Australia's largest listed childcare centre operator G8 Education (ASX:GEM) which posted interim earnings of $23.7 million for calendar 2018. The net result is down 22 per cent from a year earlier, despite an 8 per cent lift in revenue to $396.4 million. The revenue in...

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Acquisitions give National Vet Care profit a bounce

Acquisitions give National Vet Care profit a bounce

National Veterinary Care (ASX:NVL) has posted full-year earnings at the upper end of forecasts, despite a softening of market conditions in the last two months of FY18.

The bottom-line profit of $6.2 million is 42 per cent up on the previous corresponding period, aided by a 26 per cent lift in revenue to $84.2 million.

However, the ...

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Smiles Inclusive profit hit by teething problems

Smiles Inclusive profit hit by teething problems

A hiccup in practice settlements has given dental group aggregator Smiles Inclusive (ASX:SIL) a few teething problems, causing it to fall short of prospectus revenue forecasts.

However, if underlying earnings are any guide, the newly listed group has come out smiling.

Smiles Inclusive had already forewarned the market at the end of July th...

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Star breaks ground on new $400m Gold Coast tower

Star breaks ground on new $400m Gold Coast tower

The Star Entertainment Group (ASX: SGR) has broken ground on its latest development, the Dorsett Hotel, a $400 million addition to the company's growing South East Queensland portfolio. The new tower will boast 316 hotel rooms as well as 423 one and two-bedroom apartments, adding a total 739 keys to the company's accommodation on ...

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EVENT Cinemas feels the pinch, QT Hotel emerges the hero

EVENT Cinemas feels the pinch, QT Hotel emerges the hero

EVENT Hospitality & Entertainment (ASX: EVT) has delivered strong growth on the back of its hotels business, while EVENT Cinemas has been weighed down by a declining Australian box office. The listed company behind the QT brand of hotels, Event Cinemas, and the Thredbo Alpine Resort, delivered normalised profits after tax of $124.3 mi...

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Village Roadshow blames Comm Games and Dreamworld for disappointing results

Village Roadshow blames Comm Games and Dreamworld for disappointing results

The 2016 Dreamworld tragedy has had implications for more than just Ardent Leisure, with Movie World operator Village Roadshow (ASX: VRL) blaming the disaster for its own misfortunes. The listed entertainment company chalked up its underperforming results in its theme parks division to the reputation Dreamworld has wrought on the Gold Coa...

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Dreamworld still a nightmare for Ardent Leisure

Dreamworld still a nightmare for Ardent Leisure

Dreamworld continues to be the thorn that Ardent Leisure (ASX: AAD) cannot remove. Despite reporting average results in its Main Event operations, Ardent Leisure's financials were battered by the performance of Dreamworld. The group's efforts to revitalise the Dreamworld brand, following the tragic deaths of four at the park i...

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"Conservative management" could be Sunland's best bet through market downturn

"Conservative management" could be Sunland's best bet through market downturn

Despite exceeding its guidance, Sunland Group's (ASX: SDG) profit margin has dipped 11 per cent as market headwinds begin to emerge. The Gold Coast-based property developer posted a $298.7 million revenue, down 26 per cent on FY17, as well as a 19 per cent reduced earnings before interest and tax result of $51.9 million. While Sun...

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