Sydney Articles

Creso Pharma secures $900k medicinal cannabis order

Creso Pharma secures $900k medicinal cannabis order

Mernova Medicinal Ltd, a wholly-owned subsidiary of Creso Pharma Limited (ASX:CPH), has received a US$625,000 (AUD$901,000) purchase order for its premium, cured and hand-trimmed dried medicinal cannabis flower. The order from Univo Pharmaceuticals Ltd (TLV: UNVO) is Mernova's second wholesale purchase order from Univo, after a C$775k...

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WA delays Phase 5 easing of restrictions

WA delays Phase 5 easing of restrictions

Western Australia will delay its decision to enter phase 5 on its road to recovery, pushing back plans that would have removed the current 2sqm rule and 50 per cent capacity limits at major venues on 18 July. WA Premier Mark McGowan told a press conference this new phase would now be set to start a fortnight later on 1 August, as a tentat...

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International arrivals into Australia to be slashed in half

International arrivals into Australia to be slashed in half

From Monday, 4,000 fewer people will be reentering Australia each week as the Prime Minister caps international arrivals by half. In addition, those returning may have to pay for their own stays in hotel quarantine to reduce the financial burden on Australian states and territories. "Some states already have it, some states are m...

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Victorian ski season freezes over as Mt Hotham and Falls Creek resorts suspend operations

Victorian ski season freezes over as Mt Hotham and Falls Creek resorts suspend operations

COVID-19 restrictions in Victoria and border closures to the State have forced the operator of Mt Hotham and Falls Creek ski resorts to suspend operations, just over two weeks after the season commenced. Vail Resorts, the company that operates ski-lifting operations at Falls Creek and Hotham Ski Resorts says it made the tough decision to ...

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Cbus, Media Super enter MoU for merger

Cbus, Media Super enter MoU for merger

Consolidation looks set to continue in Australia's superannuation sector after two funds announced a merger might be in the works. Construction industry fund Cbus Super and Media Super have signed a Memorandum of Understanding (MoU) with plans to start due diligence on a conditional joint arrangement to be in operation in 2021. ...

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Australia's top 20 cannabis companies

Australia's top 20 cannabis companies

Let's not beat around the bush. The last 12 months have been nothing short of a rollercoaster ride for cannabis investors, as oversupply and quality problems in North America sent shares in the industry plunging and dragged ASX-listed stocks down with them. In this list, last year's number one Elixinol is now in 13th position. Cre...

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Australia welcomes Hong Kong businesses to relocate, opens doors for talent

Australia welcomes Hong Kong businesses to relocate, opens doors for talent

The Australian Government aims to attract "exceptionally talented people" and businesses from Hong Kong to relocate to our shores, along with extended permanent residency pathways for current visa holders and future applicants. An emphasis will be placed on bringing export-oriented businesses to Australia, including visa package...

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Longtable serves up healthy earnings growth

Longtable serves up healthy earnings growth

Food and dairy producer Longtable (ASX: LON) has defied the COVID-19 economic downturn to post EBITDA growth of $5.3 million in FY20. The company, which operates celebrity chef Maggie Beer's beloved food brand and dairy producers Paris Creek Farms and Saint David Dairy, says success in FY20 was driven by strong sales in May and June. ...

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Cellmid pens agreement to ramp up COVID-19 research

Cellmid pens agreement to ramp up COVID-19 research

An exclusive distribution agreement between Australian life science company Cellmid (ASX: CDY) and Immunodiagnostics Limited, Hong Kong (IMD) will beef up the company's response to the COVID-19 crisis. The deal will see Cellmid acquire commercial quantities of two essential tests for Australia and New Zealand, including for laboratory...

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Treasury Wine Estates earnings turn sour as COVID-19 hits

Treasury Wine Estates earnings turn sour as COVID-19 hits

COVID-19 has had a significant impact on Treasury Wine Estates' (ASX: TWE) earnings in FY20 across all geographies with a particularly harsh decline in the Americas. For the full year TWE, the company behind wine brands like Penfolds, 19 Crimes and Wolf Blass, expects EBITS to be between $530 million and $540 million, a decline agains...

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MGC Pharma bags vital medicinal cannabis import licence

MGC Pharma bags vital medicinal cannabis import licence

Medicinal cannabis producer and developer MGC Pharma (ASX: MXC) will see its logistics processes streamlined following the granting of a new import licence. Issued by the Australian Office of Drug Control (ODC) the import licence will enable MGC to directly import Schedule 4 (prescription only medicine) and Schedule 8 (controlled drugs) m...

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Althea starts online medicinal cannabis sales

Althea starts online medicinal cannabis sales

A web-based technology platform has long been the centrepiece of medicinal cannabis company Althea Group's (ASX: AGH) customer experience strategy, providing educational information and prescription pathways for patients and doctors alike. Now the Melbourne-based group is taking the Althea Concierge up a notch, launching online sales ...

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Loan deferrals extended by four months

Loan deferrals extended by four months

The Australian Banking Association (ABA) has announced a new phase of support to avoid a "cliff" for customers in September, with those facing hardship due to COVID-19 able to apply for loan deferral extensions of up to four months. The initiative is backed by the Australian Prudential Regulation Authority (APRA), which will giv...

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Melbourne to enter lockdown from midnight tomorrow

Melbourne to enter lockdown from midnight tomorrow

All residents of metropolitan local government areas (LGAs) in Melbourne and Mitchell Shire will face Stage 3 stay-at-home restrictions as of midnight tomorrow for six weeks, as authorities scramble to prevent COVID-19 outbreaks from spiralling out of control. After recording 191 new cases today, Victorian Premier Daniel Andrews said new ...

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Ford distribution centre to be built in Merrifield, Dexus acquires site

Ford distribution centre to be built in Merrifield, Dexus acquires site

Ford Australia has announced today it will open a new automotive parts distribution centre at Merrifield Business Park in Melbourne in late 2021, joining a network of businesses including Dulux, D'Orsogna and Steritech. Developers MAB and GPC have confirmed the company signed a 10-year pre-lease for a 51,480m2 facility,...

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WA will cap international arrivals

WA will cap international arrivals

The Federal Government has reacted "favourably" to Western Australia's request to limit international flights into Perth Airport, as the state seeks to slow down the flow of arrivals and the potential burden on quarantine hotels. WA chief health officer Roger Cook (pictured) told a press conference late morning AWST the Fede...

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Afterpay to raise $800m as co-founders cash in

Afterpay to raise $800m as co-founders cash in

Buy-now pay-later (BNPL) giant Afterpay (ASX: APT) will ride significant FY20 sales growth with an $800 million capital raise. The company's founders Anthony Eisen (pictured left) and Nicholas Molnar (pictured right) have also decided to sell down 2.05 million shares each, representing 10 per cent of their respective holdings in After...

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4000 people sign up for WA COVID-19 vaccine trial, doses begin

4000 people sign up for WA COVID-19 vaccine trial, doses begin

The trial is one of just 15 worldwide that have gone beyond the pre-clinical stage. More than 4,000 people have registered for a Phase 1 COVID-19 vaccine trial in Perth, where Linear Clinical Research has already dosed 10 participants with expectations a further 140 will take part in the coming months. The clinical trial involves...

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ASIC grants Wilson permission to proceed with Keybridge takeover

ASIC grants Wilson permission to proceed with Keybridge takeover

The Australian Securities and Investment Commission (ASIC) has greenlit Wilson Asset Management's (ASX: WAM) attempt to take over Keybridge Capital (ASX: KBC) after Takeovers Panel proceedings delayed the bid. As such, WAM Active's takeover bid to acquire all KBC shares for 6.9 cents per share (a 29 per cent premium) can now go ah...

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WA Premier calls for flight cap, urges PM to withdraw support of Clive Palmer's High Court challenge

WA Premier calls for flight cap, urges PM to withdraw support of Clive Palmer's High Court challenge

Western Australian Premier Mark McGowan has formally requested a cap on international arrivals into Perth Airport of one flight every three days, after the state reported three new cases of COVID-19 from return travellers overnight. McGowan said the flow of arrivals needed to be slowed down so quarantine could be managed to the highest po...

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Virgin Australia bondholders cry foul over Bain Capital takeover

Virgin Australia bondholders cry foul over Bain Capital takeover

Two large unsecured creditors of Virgin Australia (ASX: VAH) have called on the Takeovers Panel to intervene in the acquisition of the airline from US-based Bain Capital, describing the sale process undertaken by Deloitte as "unacceptable". Bondholders Broad Peak Investment Advisers and Tor Investment Management, from Singa...

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NSW to close borders to VIC as COVID-19 crisis worsens

NSW to close borders to VIC as COVID-19 crisis worsens

New South Wales will close its border to Victoria from 11:59pm tomorrow following talks between VIC Premier Daniel Andrews, NSW Premier Gladys Berejiklian and Prime Minister Scott Morrison. The measure comes as Victoria has reported 127 new cases of COVID-19 today, taking the number of active cases in the state to 645. 34 of the new C...

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Primewest adds two more shopping centres to its $300m "daily needs" trust

Primewest adds two more shopping centres to its $300m "daily needs" trust

Property fund manager Primewest has added two shopping centres to its recently launched "daily needs" property trust today, both in New South Wales. The company has acquired two Woolworths-anchored centres from Charter Hall in Pemulwuy and West Ryde NSW, following its recent purchase of the Spring Farm Shopping Centre in the sou...

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Exporters to receive $240m in extra funding as freight support extended

Exporters to receive $240m in extra funding as freight support extended

Australia's exporters have been thrown a line thanks to the Federal Government's decision to extend a freight support program until the end of the year, with an additional $240 million in funding. A spokesperson for the office of Minister for Trade Simon Birmingham has confirmed this takes total funding for the International ...

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Lovisa reopens stores but exits Spanish market

Lovisa reopens stores but exits Spanish market

Jewellery retailer Lovisa (ASX: LOV) has now reopened the vast majority of stores worldwide following closures sparked by the COVID-19 pandemic, but strained relationships with landlords has led to an exit from Spain. There are now 434 Lovisa stores worldwide including franchises that are trading, compared to 449 in March before shutdowns...

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FDA approves four new Cochlear products

FDA approves four new Cochlear products

The US Food and Drug Administration (FDA) has approved four new products from hearing implant technology company Cochlear (ASX: COH), enabling smartphone connectivity for users, while clinicians and surgeons will benefit from new software and tools.  The Sydney-headquartered company plans to commercially release the new products in t...

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In tomorrow's economy, leaders who innovate service and CX will have the upper hand

In tomorrow's economy, leaders who innovate service and CX will have the upper hand

With an increased shift to online transactions during COVID-19, service innovation and customer experience (CX) are skyrocketing as priorities for many businesses and leaders. E-commerce growth rose by 80 per cent in the eight weeks following the World Health Organisation's (WHO) declaration of a pandemic. Man...

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Webjet rattles the tin again, this time for $163 million

Webjet rattles the tin again, this time for $163 million

After raising close to $350 million in April, travel company Webjet (ASX: WEB) has today announced a 100 million euro (AUD$163 million) convertible note issue to pay off debt and build a war chest for potential acquisitions. The announcement follows a UN report yesterday estimating COVID-19 would likely cut global tourism income from AUD$...

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Victoria is on the precipice of an uncontrolled coronavirus outbreak. Will the new measures work?

Victoria is on the precipice of an uncontrolled coronavirus outbreak. Will the new measures work?

I recently wrote about Victoria's surge in COVID-19 cases. On that day, Victoria recorded 11 new infections, after a few days of new cases in the high teens and low twenties. I wondered then whether the situation could be brought quickly under control. Unfortunately, it has since got much worse. On Wednesday, the state recorded 73...

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Alterity Therapeutics market cap skyrockets from $18m to $333m in one day

Alterity Therapeutics market cap skyrockets from $18m to $333m in one day

Update 2 July, 2020: After this story was published, Alterity Therapeutics announced the proposed issue of more than 47.6 million shares at around 3.3 cents each. ATH shares then plunged from close to 40 cents each down to 15 cents before the market closed, and on the morning of 2 July they dropped a further 54 per cent down to 7.6 cents each...

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