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...

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Kogan shares plunge after sell off rumours ring true

Kogan shares plunge after sell off rumours ring true

Shares in online retailer Kogan.com (ASX: KGN) have slumped 25 per cent after rumours came true that founder Ruslan Kogan and his chief financial officer were set to offload a large piece of the company. Kogan and CFO David Shafer sold $42 million worth of KGN shares, believed to be six million shares at $7.00 each, and that they had &quo...

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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...

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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...

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Godfreys flags cash flow problems as takeover looms

Godfreys flags cash flow problems as takeover looms

Vacuum sales specialist Godfreys (ASX: GFY) has flagged potential cash flow challenges as Arcade Finance comes closer to acquiring the company. On Wednesday night the listed company announced to the ASX that it is in the process of reviewing cash flow numbers, but the future looks bleak. The groups says it expects to reveal cash flow ...

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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. ...

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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 ...

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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...

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MYOB ditches Reckon acquisition plans to focus on growth

MYOB ditches Reckon acquisition plans to focus on growth

Business management solution provider MYOB has announced it will no longer pursue the acquisition of Reckon to instead focus on its planned investment strategy. Citing significant delays, the result of extensive regulatory requirements, MYOB has announced it will terminate the acquisition of Reckon's Accountant Group assets. MYOB ...

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Former Domain CEO Antony Catalano secures new role at Tomorrow Agency

Former Domain CEO Antony Catalano secures new role at Tomorrow Agency

After resigning from Domain just two months after it listed on the ASX, Antony Catalano has secured a new leadership position at Domain's biggest client. Catalano quit as CEO of Domain in January, saying that the role would inhibit time spent with the family including his eight children. Catalano was criticised for departing Domai...

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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 ...

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Metcash shares tumble after losing key SA customer

Metcash shares tumble after losing key SA customer

Metcash (ASX: MTS) shares have plunged nearly 17 per cent after the grocery supplier flagged a potential $270 million hit because one of its main customers has shunned its new South Australian distribution centre. Drakes Supermarkets announced it would not use the distribution centre beyond the end of their agreement in June 2019. Dra...

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Investa board to recommend $3.1b Blackstone takeover offer

Investa board to recommend $3.1b Blackstone takeover offer

US property giant and private equity company Blackstone has lobbed a $3.1 billion cash bid for Investa Office Fund (ASX: IOF), sending its shares up by more than 10 per cent. IOF, which controls some of Australia's most high-profile office towers, says it intends to recommend the takeover to its shareholders. The company says Blac...

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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 ...

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Reliance to buy UK company in $1.2b deal

Reliance to buy UK company in $1.2b deal

Melbourne-based plumbing supplies giant Reliance Worldwide (ASX: RWC) has positioned itself to take on the European market with a $1.2 billion buyout of UK company John Guest Holdings Limited. Reliance will fund the deal to buy the plastic fittings manufacturer through a $1.1 billion equity offering and the acquisition is expected to be c...

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Class action against GetSwift gets Federal Court go-ahead

Class action against GetSwift gets Federal Court go-ahead

The filing of a class action law suit against logistics software company GetSwift (ASX: GSW) has been approved by the Federal Court with the aggrieved shareholders now ordered to file a statement of claim against the company. The Federal Court considered three separate class actions against GetSwift and ruled that the claim by law firm Ph...

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Solomon Lew continues "hostile" attack in bitter tit-for-tat stoush with Myer

Solomon Lew continues "hostile" attack in bitter tit-for-tat stoush with Myer

The war of words between Myer and its major shareholder, Solomon Lew's Premier Investments, has taken a major turn with the department store chain accusing Lew of running a "hostile and obstructive" campaign to destabilise the company. Myer CEO Garry Hounsell fired back at Premier Investments' latest hostile attack which...

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Alzheimer's research company secures capital raising on promising trials

Alzheimer's research company secures capital raising on promising trials

ASX-listed Alzheimer's drug developer Actinogen Medical (ASX: ACW) has announced promising interim results and welcomed a major new international investor as part of a $15million capital raise. Actinogen revealed that major biotech fund BVF Partners were taking a 19.9 per cent stake onto its register, which is the maximum allowable be...

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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...

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Bidding war looms for outdoor advertising giant

Bidding war looms for outdoor advertising giant

A BIDDING war for a bigger slice of the lucrative outdoor advertising sector appears to be on the cards as APN Outdoor Group (ASX:APO) reveals it is offering $500 million for the Adshel business. The indicative offer for Adshel, owned by Here There & Everywhere (ASX:HT1) and operator of Australia's largest street furniture adverti...

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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...

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Takeover push as Arcade Finance grabs more than 50 per cent stake in Godfreys

Takeover push as Arcade Finance grabs more than 50 per cent stake in Godfreys

Vacuum cleaner sales business Godfreys (ASX:GFY) has received a second, larger takeover offer from its 99-year-old co-founder John Johnston who wishes to re-privatise the troubled company. Having already offered $13.1 million in early April, Johnston's company Arcade Finance has upped the ante to $13.7 million at 33.5 cents per share....

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"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...

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Class action firm takes aim at BHP Billiton over Brazilian dam tragedy

Class action firm takes aim at BHP Billiton over Brazilian dam tragedy

Phi Finney McDonald is preparing a class action against BHP Billiton (ASX: BHP), arguing the resources giant misled investors over the 2015 tragedy which has been called Brazil's worst ever environmental disaster. BHP owns and operates the Germano iron ore mine in Minas Gerais in a joint venture with Brazilian company Vale SA.  ...

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Media company HT&E denies takeover talk by Ooh!Media

Media company HT&E denies takeover talk by Ooh!Media

Media company HT&E (ASX: HT1) has denied reports that it is considering a full takeover bid from Ooh!Media and could enter a trading halt. Media reports emerged over the weekend that Ooh!Media was looking at a full takeover bid of HT&E as investment bankers were trying to find a buyer for its radio assets. The board of HT&...

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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...

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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...

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Godfreys at risk of default, reaches for lifeline from 99-year old co-founder

Godfreys at risk of default, reaches for lifeline from 99-year old co-founder

Listed vacuum cleaner sales business Godfreys (ASX: GFY) has recommended shareholders accept the takeover deal by its 99-year-old co-founder as the business is at risk of defaulting on loans. In a statement to the ASX on Wednesday, Godfreys recommended that shareholders accept the offer made by its co-founder John Johnston, now the direct...

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Reece bursts into US market with $1.9 billion acquisition

Reece bursts into US market with $1.9 billion acquisition

Melbourne-based plumbing giant Reece Group (ASX: REH) has acquired US-based distributor MORSCO Inc. for AUD$1.9 billion in a deal partially funded by the company's latest round of capital raising. Reece announced today that it raised approximately $248 million through an institutional placement and institutional entitlement offer to p...

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Baby Bunting slashes guidance, dragged down by sinking competitors

Baby Bunting slashes guidance, dragged down by sinking competitors

Baby Bunting's (ASX: BBN) earnings forecast has dropped after two of its main competitors entered administration and have begun liquidating stock. Baby Bunting says it has been "adversely affected by the distressed trading" of its competitors Baby Bounce and Baby Savings, after the announcement was made in April that both co...

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