Sydney Articles

Slater and Gordon files class action against AMP

Slater and Gordon files class action against AMP

Listed law firm Slater and Gordon (ASX: SGH) has launched a class action law suit against AMP (ASX: AMP) for allegedly charging customers excessive fees. Slater and Gordon alleges that, through arrangements entered into with related parties, trustees AMP Super and NM Super paid too much to related AMP entities for administration services....

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Provenir receives Australian first mobile abattoir licence

Provenir receives Australian first mobile abattoir licence

Agriculture startup Provenir has received a licence from the New South Wales Food Authority to operate Australia's first ever mobile abattoir. The licence will enable Provenir to begin processing beef on farm, opening the company up to commercial sales to food service, online, and retail. Cattle farmer John Doyle from Claredale, N...

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The plot thickens in Zip Co and Firstmac's trademark dispute

The plot thickens in Zip Co and Firstmac's trademark dispute

It is fast becoming a case of 'he said, she said' as the trademark infringement allegations levelled at Zip Co develop. When the proceedings were lodged yesterday by Firstmac Zip Co came out swinging, saying that Firstmac is only now choosing to launch proceedings against it, despite Zip Co using the phrase in question, 'ZIP...

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Zip Co embroiled in trademark dispute

Zip Co embroiled in trademark dispute

Home loan provider Firstmac is taking digital finance and payments company Zip Co (ASX: Z1P) to Federal Court over a trademark dispute. Firstmac alleges that Zip Co has infringed its trademark 'ZIP' which is registered in respect of 'financial affairs', specifically home loans. Zip Co has engaged Corrs Chambers Westgar...

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AP Eagers and AHG merger raises red flag for watchdog

AP Eagers and AHG merger raises red flag for watchdog

The possibility for localised anti-competitive impacts following the proposed merger of two of Australia's largest car dealers has raised a red flag for the Australian Competition and Consumer Commission ('ACCC'). AP Eagers (ASX: APE) and Automotive Holdings Group (ASX: AHG) are currently in the final stages of a proposed merg...

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Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn settles one of two class actions for $42 million

Murray Goulburn (ASX: MGC) has settled one of its class actions, known as the Endeavour River class action, for $42 million. Slater and Gordon launched the suit on 16 August 2018, acting on behalf of aggrieved Murray Goulburn shareholders who the firm argued suffered losses at the hands of misleading and deceptive conduct. The key all...

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Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers heads north with first acquisition since listing

Australian Family Lawyers (ASX: AFL) is going full throttle as a listed law firm, notching its first acquisition since listing on the ASX in early June. The company has acquired Nita Stratton Funk & Associates Solicitors, marking its foray into the Queensland legal market. AFL will pay $300,000 in cash for the Queensland firm, whi...

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CEOs will sleep rough tonight to raise money for homelessness

CEOs will sleep rough tonight to raise money for homelessness

Business leaders around the country will tonight take warm clothes, their sleeping bags and sheets of cardboard to city centres in a bid to raise awareness about homelessness. The Vinnies CEO Sleepout is still about $700,000 shy of meeting last year's donations of $6.9 million and still has the goal of raising $7.1 million. The 2018 eve...

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GPT successfully raises $800M for Sydney purchases

GPT successfully raises $800M for Sydney purchases

Investors are showing bullish signs on property in the Sydney CBD, with GPT Group (ASX: GPT) raising $800 million in 24 hours to acquire stakes in commercial and retail sites in the city centre. Yesterday the company announced it would issue approximately 131.8 million stapled securities at the placement price of $6.07, representing a 3.9...

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GPT to fund Sydney CBD buyout through $800M capital raising

GPT to fund Sydney CBD buyout through $800M capital raising

GPT Group (ASX: GPT) is poised to acquire more than 100,000sqm of prime Sydney office space after it completes a sizeable $800 million institutional placement. GPT aims to take a 25 per cent stake in the Darling Park 1 and 2 office complexes plus Cockle Bay Wharf dining and retail precinct in the CBD. Total consideration for the CBD a...

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The programmatic ad platform to give Silicon Valley a run for its money

The programmatic ad platform to give Silicon Valley a run for its money

Programmatic advertising forms the bedrock of most publishers in 2019. Major rags, websites and blogs have all dived into it in the past and still use it today for a very good reason - it is an automated, easy way to boost revenue from websites. But it also comes with a number of problems, which Business News Australia has dived into ...

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Jenny Hutson sidekick avoids jail

Jenny Hutson sidekick avoids jail

A former director of Wellington Capital found guilty of giving false or misleading information has been given a light sentence thanks to her cooperation with authorities. Mary-Anne Greaves has been discharged without proceeding to conviction after giving the Brisbane Magistrate's Court a security of $5,000 on the condit...

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AGL walks away from Vocus takeover

AGL walks away from Vocus takeover

AGL Energy (ASX: AGL) had four weeks to conduct its due diligence for a potential takeover of Vocus (ASX: VOC), but it only needed one. Following in the footsteps of Swedish company EQT which had pulled out of its $3.3 billion bid for the telco, AGL has determined its lower offer of $3 billion for Vocus wouldn't be worthwhile eit...

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Will Australia become Asia's 'clean green' medicinal cannabis supplier?

Will Australia become Asia's 'clean green' medicinal cannabis supplier?

From powdered milk to multivitamins to fresh fruit, Australian and New Zealand products command a health premium in Asian markets but can the medical cannabis industry leverage this 'clean green' image and follow suit?  Cann Group (ASX: CAN) CEO Peter Crock believes they will, and this was a driver for the company securing a ...

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ANZ sacks NZ chief citing "concerns" over transactions

ANZ sacks NZ chief citing "concerns" over transactions

Australia and New Zealand Banking Group (ASX: ANZ) has announced its New Zealand business CEO David Hisco (pictured) is stepping down after an internal review of his personal expenses. The board has raised concerns about the "characterisation of certain transactions" while the decision also follows ongoing health ...

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Honey Birdette hits back: 'There will be nipples. And plenty of them'

Honey Birdette hits back: 'There will be nipples. And plenty of them'

Multinational lingerie brand Honey Birdette has launched a new "Red Alert" ad campaign to fight against increased censorship it has received following pressure from a conservative lobby group. With the hashtag #notaskingforit, the Australian company's new campaign features censorship banners across the front of every image. ...

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Losses deepen for McGrath but can new CFO turn the tide?

Losses deepen for McGrath but can new CFO turn the tide?

A new CFO will soon fill the void left by the departure of Glynn Wright at listed property company McGrath (ASX: MEA) in March, with Howard Herman set to start in the role on 24 June. But Herman, who was recently CFO at NASDAQ-listed Australian apparel business Naked Brand Group, will have a tough job on this hands as the c...

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Ousted founder pulls out of Smiles Inclusive board bid

Ousted founder pulls out of Smiles Inclusive board bid

Dental care company Smiles Inclusive (ASX: SIL) has today confirmed an attempt to hold a second vote over the board's future has been withdrawn by ousted founder Mike Timoney (pictured). Timoney and ex-chairman David Herlihy were voted off the board by shareholders at an extraordinary general meeting (EGM) held last month, b...

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Evans Dixon CEO steps aside to lead struggling US fund

Evans Dixon CEO steps aside to lead struggling US fund

Amidst falling profits and complaints over high fees and investment recommendations for its own in-house funds, financial advisory firm Evans Dixon (ASX: ED1) will see its CEO Alan Dixon (pictured) step aside to focus on the company's US residential property fund. Executive chairman David Evans will act as a temporary CEO while a...

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Afterpay faces AUSTRAC audit into anti-money laundering compliance

Afterpay faces AUSTRAC audit into anti-money laundering compliance

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of fintech Afterpay's (ASX: APT) after identifying concerns over compliance with financial crime legislation. The announcement prompted a 12.6 per cent drop in APT shares this morning down to $22.41. The financial intelligence agency ha...

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From Tinybeans big things grow

From Tinybeans big things grow

Has Australian-founded social media network Tinybeans (ASX:TNY) found the sweet spot between keeping user data strictly private and also monetising it?  With 3.2 million registered users and expectations cash flow will start to break even by the end of this calendar year, the now US-headquartered company is starting to reap the rewar...

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Stars align for THC Global after cannabis manufacture licence granted

Stars align for THC Global after cannabis manufacture licence granted

One of Australia's leading listed cannabis companies is on track with its 'farm to pharma' business model after crossing a key regulatory hurdle. Shares in THC Global (ASX: THC) rose 12.5 per cent this morning to $0.50 after the company announced its subsidiary Canndeo was granted a manufacture licence from the Australian Offi...

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Afterpay shares rise as capital raising exceeds target

Afterpay shares rise as capital raising exceeds target

Buy-now pay-later (BNPL) heavyweight Afterpay (ASX: APT) have surged 9.5 per cent this morning to $26.47 after an institutional placement raised $317 million. Those who took part in the capital raising will already be reaping the rewards as the new shares were issued at $23 each, while a $30 million share purchase plan (SPP) is on its way...

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Australian Property Institute backs LandMark White

Australian Property Institute backs LandMark White

The property industry's professional organisation has come out in support of LandMark White (ASX: LMW) following the property valuer's back-to-back data breaches. The Australian Property Institute (API) is providing support to LMW and other members of the organisation affected by cybercrimes. API CEO Amelia Hodge (pictured) sa...

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Wesfarmers to buy online retailer Catch Group for $230m

Wesfarmers to buy online retailer Catch Group for $230m

Perth-based Wesfarmers (ASX: WES) is entering new territory in e-retail through an agreement to buy Catch Group, a homegrown company that has recently beefed up its warehouse capacity in Melbourne.  If the $230 million transaction goes ahead, Catch Group will operate independently of Wesfarmers' other retail businesses Bunni...

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The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

Fund manager Blue Sky Alternative Investments (ASX: BLA) ended its 7.5-year run on the ASX after going into receivership. At its peak the Brisbane-based investment firm was worth almost $1.2 billion, with capital raisings easily fulfilled and an aggressive investment strategy fuelling global interest.  During what appeared t...

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Construction entrepreneur thinks outside the box

Construction entrepreneur thinks outside the box

On the back of projects ranging from office fit-outs to schools to nightclubs, Chapcon Design & Construct is growing at a swift pace as revenue doubles each year. Founded by carpenter Nick Chapman in 2011, the group's portfolio of projects has been buoyed by word-of-mouth and strengthened by its track record and willingness to tak...

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Afterpay to raise $330m for US expansion

Afterpay to raise $330m for US expansion

Shares in Australian fintech Afterpay (ASX: APT) have entered a trading halt amidst the announcement of a $330 million capital raising aimed at funding overseas expansion. In a release today, the company says its experience to date "confirms that the US scale-up opportunity is clear" and a strong growth strategy is needed to ach...

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Booktopia turns a new page after failed crowdfund attempt

Booktopia turns a new page after failed crowdfund attempt

Online bookseller Booktopia is looking for new investment sources after an ambitious crowdfunding scheme failed to achieve its minimum target. The company's offer on Equitise was due to expire in three days and would have needed investments of at least $3 million to go ahead, but had only reached commitments of $892,750. The decis...

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The Star's growth dims as the financial year closes in

The Star's growth dims as the financial year closes in

Growth revenue is softening for The Star Entertainment Group (ASX: SGR) due to various challenges faced by the company. Between 1 January and 8 June 2019 domestic revenue only rose 0.3 per cent year-on-year. International VIP trends continue to fall as was the case in 1H19, with turnover down 31.1 per cent in 2H19 thus far. As a r...

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