Melbourne Articles

How the 'Transformation Economy' will reshape Australian retail

How the 'Transformation Economy' will reshape Australian retail

For the world of retail this decade has been all about the dichotomy of online versus physical; clicks versus bricks. It is a distinction that has confounded the dinosaurs of traditional Australian retail, leading to the demise of many purely physical retailers, and egging on the rise of online warehouse type platforms like Amazon or Aust...

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Kogan shares rise after gross sales race past $500m

Kogan shares rise after gross sales race past $500m

E-tail giant Kogan (ASX: KGN) expanded its product offering into uncharted territory in FY19 and delivered double digit earnings growth as a result. The company's shares have risen by more than 8% today after the group reported it had surpassed half a billion dollars in gross sales for the year.  Revenue was up 6.4 per c...

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Aussie businesses tap travelling workforce to solve staffing issues

Aussie businesses tap travelling workforce to solve staffing issues

With unemployment in Australia continuing to hover at around 5 per cent, recruiting and retaining quality talent is becoming a growing challenge. Not only does it affect companies' ability to grow, it impacts customer service and productivity levels. Helping alleviate this pressure is The Global Work & Travel Co., the Gold Coa...

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What will be the legacy of the Hayne Royal Commission?

What will be the legacy of the Hayne Royal Commission?

The Hayne Royal Commission into the banking and financial services industry uncovered plenty of ugliness about Australia's leading financial institutions. The institutions themselves are still dealing with the fallout of the Royal Commission; class actions, board spills, and "restructure" plans are abound this year. What...

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James Warburton replaces Tim Worner as chief of Seven

James Warburton replaces Tim Worner as chief of Seven

Tim Worner (pictured), CEO of Seven West Media (ASX: SWM), has today resigned from the company. Worner leaves with immediate effect to be replaced by former CEO of Network Ten, APN Outdoor and Supercars James Warburton. Warburton previously worked for Seven as a chief digital and sales officer before leaving the company become Ten'...

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Charter Hall consortium buys $700 million stake in Telstra properties

Charter Hall consortium buys $700 million stake in Telstra properties

A consortium led by Charter Hall has acquired a 49 per cent interest in an unlisted trust of 37 exchange properties for $700 million. The properties in the trust are all leased to Telstra (ASX: TLS), with the telco giant set to retain a 51 per cent interest as well as operational control. The consortium is owned by three separate buye...

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This Apple backed founder thinks we need to rethink Australia's rigid economy

This Apple backed founder thinks we need to rethink Australia's rigid economy

As the founder of Blackmagic Design, Grant Petty (pictured) certainly knows a thing or two about running a business. The company is one of Australia's most successful tech-plays in recent times. Founded in 2001 Blackmagic Design has been at the forefront of film and television ever since then with its varied suite of cameras, capture ...

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Super Retail Group's proactive approach pays off

Super Retail Group's proactive approach pays off

A tough retail industry has claimed its fair share of victims over the past few years, but Super Retail Group (ASX: SUL) appears to be standing head and shoulders above the mire. The company behind popular brands Supercheap Auto, Rebel, BCF and Macpac experienced steady and consistent growth throughout FY19. Group sales rose 5.4 per c...

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Cleanaway shares plunge despite profit surge

Cleanaway shares plunge despite profit surge

Investors have dumped shares in Cleanaway Waste Management (ASX: CWY) despite significant boosts to profits and its final dividend.  Shares in the Melbourne-based company dropped 10.5 per cent to $2.13 in early trading even though net revenue was up 35 per cent at $2.1 billion, reflecting strong growth across all operating segments. ...

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Dexus buys big in office markets, but revaluations hit profit

Dexus buys big in office markets, but revaluations hit profit

Dexus (ASX: DXS) secured a $3.1 billion pipeline of acquisition opportunities over the past financial year, however lacklustre revaluations hit the property group's profit margin. Net profits dropped 25.9 per cent to hit $1.28 billion which was primarily due to lowered net revaluation gains on Dexus' investments. In FY19 the c...

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Vicinity axes plans for property fund on 72 per cent profit drop

Vicinity axes plans for property fund on 72 per cent profit drop

Impacted by a year of heavy divestments and a "challenging retail environment", Vicinity Group's (ASX: VCD) profit has dropped almost 72 per cent. The shopping centre giant reported a net profit after tax of $346.1 million, down from an FY18 result of $1.218 billion. Managing director and CEO Grant Kelley admits the weak...

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ACCC flags concrete plans to tackle digital media giants' power imbalance

ACCC flags concrete plans to tackle digital media giants' power imbalance

The Australian Competition and Consumer Commission (ACCC) has delved deeper into the type of regulatory codes that could be used to tackle the distortionary power of digital platforms like Facebook and Google.   Following the regulator's recent report into the out-of-control growth and dominance of these companies ...

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Acquisitions lift Centuria real estate asset values by 33%

Acquisitions lift Centuria real estate asset values by 33%

Centuria Capital Group (ASX: CNI) expects to qualify for the S&P ASX 300 index this quarter after an acquisition drive helped lift its market capitalisation in FY19. The Sydney-based company's share price has risen 62 per cent since the start of the year with leadership holding a bullish outlook for the office, industrial and heal...

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Market darling Magellan sails through troubled markets with stellar result

Market darling Magellan sails through troubled markets with stellar result

Investor optimism has added $6.5 billion to Magellan Financial Group's (ASX: MFG) market capitalisation since February, and today the Sydney-based investment fund returned the favour. The company has reported a 35 per cent lift in net profit after tax (NPAT) to $364.2 million in FY19, and is giving some of that back to shareholders th...

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Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Times are brutally tough for SMEs in Australia. Ever since the Royal Commission into Misconduct in the Financial Services Industry tabled its report, bank financing has all but dried up. This situation has put small business owners in a difficult spot; without access to credit, companies put expansion plans on hold. When gaps in cash ...

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JB Hi-Fi posts record sales and earnings

JB Hi-Fi posts record sales and earnings

It has been another strong year for retail giant JB Hi-Fi (ASX: JBH), posting record sales and earnings. Total sales were up 3.5 per cent to $7.1 billion and NPAT was up 7.1 per cent to $249.8 million. These continued strong results, showing growth every financial year since FY15, demonstrate the brand's strong position in the Aus...

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Macquarie Media agrees to sell to Nine at discount

Macquarie Media agrees to sell to Nine at discount

The board of one of Australia's largest radio companies is in favour of selling off almost half its shares to Nine Entertainment (ASX: NEC) at a 16 per cent discount to the previous share price. This morning Nine offered to buy the remaining 45.5 per cent stake it doesn't own in Macquarie Media (ASX: MRN) - broadcaster of such sta...

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NSW watchdog to probe Packer's sale of Crown shares

NSW watchdog to probe Packer's sale of Crown shares

On 31 May, James Packer's CPH Crown Holdings sold $1.76 billion worth of shares in Crown Resorts (ASX: CWN) to Hong Kong-based casino operator Melco Resorts, a company headed by Packer's former business partner Lawrence Ho. Lawrence Ho is the son of Macau's most influential casino magnate Stanley Ho, who held a government-gran...

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Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Bonitas Research has criticised Rural Funds Group's (ASX: RFF) "we will not disclose" response to requests for its commercial lease agreements, with the US short seller standing by its allegations the agricultural land fund fabricated rental income. The company's shares plunged 43 per cent on Tuesday after Bonitas accuse...

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Nick Scali shares rise despite flat same-store sales

Nick Scali shares rise despite flat same-store sales

Investors were encouraged by the performance of Nick Scali (ASX: NCK) today as shares in the furniture retailer pushed 8 per cent higher, with managing director Anthony Scali describing the record result as "satisfactory". The group notched its seventh straight year of record profit, up 2.8 per cent year-on-year at $42.1 million...

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Business News Australia cracks 100,000 unique visitors mark

Business News Australia cracks 100,000 unique visitors mark

Business News Australia has bucked the trend of a challenging media environment with staggering organic growth in readership rates over the past year. Driven by a Millennial-majority demographic, the most recent data shows our independent news site reached 101,000 visits. This represents a staggering year-on-year growth of 84 per cent...

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Rural Funds hits back at short seller Bonitas

Rural Funds hits back at short seller Bonitas

Australia's most experienced agricultural fund manager has entirely rejected claims made by a Texas-based short seller whose report into the company sent its shares into freefall yesterday. Bonitas Research, an entity set up by Glaucus Research founder Matthew Wiechert who was responsible for similar attacks that prompted the dow...

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One for the road: CEO resigns at Australia's largest pub property group

One for the road: CEO resigns at Australia's largest pub property group

The owner of Australia's largest portfolio of freehold pub properties will say cheers to its longstanding CEO after 16 years in the job. ALE Property Group (ASX: LEP) announced today its CEO and managing director Andrew Wilkinson will be stepping down to pursue new executive challenges. The executive has overseen a growth in ALE...

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CommBank will take on Afterpay in buy-now pay-later market

CommBank will take on Afterpay in buy-now pay-later market

Australia's largest bank is moving with the times in a financial market where buy-now pay-later (BNPL) companies like Afterpay (ASX: APT) and Zip Co (ASX: Z1P) have gained traction with consumers and investors alike. In its results announcement today, Commonwealth Bank (ASX: CBA) announced it had signed an agreement with Swedish onlin...

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Medicinal cannabis industry welcomes extended government support

Medicinal cannabis industry welcomes extended government support

The Federal Government has promised to support major medicinal cannabis projects to the delight of the sector. Under the plan, medicinal cannabis projects that have been granted major project status (MPS) will be given priority to receive medicinal cannabis licences through the Office of Drug Control (ODC). MPS is granted by the depar...

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Glaucus founder strikes again as Rural Funds Group shares collapse

Glaucus founder strikes again as Rural Funds Group shares collapse

Agricultural real estate investment trust Rural Funds Group (ASX: RFF) saw its shares plunge 43 per cent this morning following an activist short sell attack from Bonitas Research. The Texas-based fund was founded by Matthew Wiechert, also known as the founder of Glaucus Research which triggered the decline of Blue Sky Alternative Investm...

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Kip McGrath retires from global tutoring empire

Kip McGrath retires from global tutoring empire

Education entrepreneur Kip McGrath has retired from his namesake company with tutoring centres around the world, leaving a lasting legacy that began more than four decades ago in the Hunter Valley of NSW. The announcement comes shortly the board forecast net profit after tax for Kip McGrath Education Centres (ASX: KME) would be up 30 per ...

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Yowie escapes coup as Bolton and Khan clash over Keybridge

Yowie escapes coup as Bolton and Khan clash over Keybridge

Troubled investment firm Keybridge Capital (ASX: KBC) has been choc-blocked in its attempt to oust chairman Louis Carroll from confectioner Yowie (ASX: YOW), with investors seemingly taking little encouragement from the suitor's own internal conflicts.  Keybridge, backed by notorious corporate raiders Farooq Khan and Nichola...

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Wesfarmers' acquisition of Catch Group gets green light from ACCC

Wesfarmers' acquisition of Catch Group gets green light from ACCC

The national competition regulator sees no problem with Wesfarmers' (ASX: WES) proposed $230 million acquisition of online retailer Catch Group and will not oppose the deal. The Australian Competition and Consumer Commission (ACCC) determined a link-up of Wesfarmers' Kmart and Target stores with the e-commerce player would no...

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The Agency pays for aggressive expansion

The Agency pays for aggressive expansion

It may have come with a hefty price tag, but Perth-based national property group The Agency (ASX: AU1) has achieved a whopping 150 per cent increase in revenue to $40 million. In the three months to June 30 the company's cash receipts increased 50 per cent quarter-on-quarter to hit $13.7 million, on the back of a record number of exch...

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