Sydney Articles

Elixinol secures stake in US CBD pet products business

Elixinol secures stake in US CBD pet products business

Elixinol (ASX: EXL) has doubled down on the CBD pet products market by acquiring a 25 per cent stake in Altmed Pets (aka Pet Releaf), a leading US pet brand. Elixinol will pay Pet Releaf US$4.4 million in cash and US$1.9 million in Elixinol scrip for the chunk of the company. Pet Releaf is a pioneering company for hemp-derived CBD oil...

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Indigenous honey enterprise abuzz after Star Entertainment deal

Indigenous honey enterprise abuzz after Star Entertainment deal

Star Entertainment Group (ASX: SGR) has committed to sourcing 'sugarbag' native honey from the local Aboriginal community on Stradbroke Island in Queensland, as part of a pilot trial that will be boosted to include 140 hives. Since November 2017, representing the island's traditional owners the Quandamooka Yoolooburrabee Abori...

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One in three Aussies would trust a robot for financial advice

One in three Aussies would trust a robot for financial advice

With financial advice professionals licking their wounds following the Banking Royal Commission, it appears that now is the perfect time for a robot uprising. That is if you look to recent research which shows that 30 per cent of Australians would trust a robot to offer them financial advice. According to think tank Thinque this stati...

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"Take no action", Automotive Holdings urges shareholders after AP Eagers bid

"Take no action", Automotive Holdings urges shareholders after AP Eagers bid

A merger proposal involving two of Australia's leading car dealerships is revving up as boards seek to steer shareholders in opposing directions. Earlier this month AP Eagers (ASX: APE) made a scrip-for-scrip takeover bid for Automotive Holdings Group (ASX: AHG) which valued the smaller company at $635 million, but hype around the pro...

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Female board appointments stall for ASX 200 companies

Female board appointments stall for ASX 200 companies

The Australian Institute of Company Directors (AICD) has called the failure to reach an equality target "disappointing" with fewer than expected females appointed to ASX 200 boards in 2019. AICD today released the latest gender diversity statistics of Australia's ASX 200 companies, and progress appears to have stalled. F...

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Sales slide for Australia's largest listed cannabis company

Sales slide for Australia's largest listed cannabis company

Australian industrial hemp and medicinal cannabis company Elixinol (ASX: EXL) saw its revenue fall by 31 per cent quarter-on-quarter in the first three months of 2019, but the group has bounced back in April with a major US retail order. As the country's largest listed cannabis outfit with a market capitalisation of $639 million, Elix...

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Gilbert + Tobin optimistic following bumper year for mergers and acquisitions

Gilbert + Tobin optimistic following bumper year for mergers and acquisitions

Gilbert + Tobin are certainly no strangers to some of the largest Australian mergers and acquisitions (M&A). Most recently the company advised on the acquisition of business software company MYOB by KKR for $2 billion. So, when the firm says that the future is looking bright for M&A that's a fairly strong indication that t...

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Class action against Lendlease filed in NSW Supreme Court

Class action against Lendlease filed in NSW Supreme Court

Maurice Blackburn has confirmed that a class action against Lendlease (ASX: LLC) will go ahead after filing an open class action in the New South Wales Supreme Court today. The class action arises from alleged misleading behaviour from Lendlease who Maurice Blackburn say failed to adequately disclose the long-running problems affecting it...

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NAB takes $525M hit as it repays short-changed customers

NAB takes $525M hit as it repays short-changed customers

National Australia Bank (ASX: NAB) has copped a $525 million cost to repay aggrieved customers in the wake of the banking Royal Commission. This $525 million after tax ($749 million before tax) bill accounts for increased provisions for NAB's customer-related remediation program and is expected to cut its 1H19 cash earnings by a whopp...

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MGC Pharma secures Chinese distribution agreement for CBD based products

MGC Pharma secures Chinese distribution agreement for CBD based products

Chinese demand for Australian products like skincare, vitamins, and produce is no secret but it seems that Australian cannabis manufacturers are now looking to the Asian giant for distribution. MGC Pharma has signed a distribution agreement with Chinese e-commerce import platform YuShop Global to sell the company's CBD and hemp-enhanc...

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Smiles Inclusive takes founder Mike Timoney to court

Smiles Inclusive takes founder Mike Timoney to court

Divided dental company Smiles Inclusive (ASX: SIL) has commenced legal proceedings against beleaguered founder Mike Timoney (pictured) alleging serious misconduct and breaches of the law. The action follows the substantial completion of an interim investigation into the conduct of the ousted former CEO who remains on the board along with ...

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Booktopia falls well short of $10M crowdfund target

Booktopia falls well short of $10M crowdfund target

What was heralded as Australia's largest-ever equity crowdfunded capital raise through Equitise is a long way from achieving its targets with just 60 days to go before the offer expires. In November, the country's leading online bookseller Booktopia announced it was offering 8.1 per cent of the business to investors with plan...

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Dulux board agrees to $4.2 billion takeover by Nippon

Dulux board agrees to $4.2 billion takeover by Nippon

Japan's Nippon Paint has made a $4.2 billion offer to acquire DuluxGroup (ASX: DLX) and the Aussie paint empire has given its unanimous thumbs up, urging shareholders to accept the deal. Nippon has offered to buy the company for a 100 per cent cash consideration of $9.80 per share which represents a substantial 27.8 per cent premium t...

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Blackmores reveals unhealthy quarter as company heir takes the reins

Blackmores reveals unhealthy quarter as company heir takes the reins

The son of the late founder of Blackmores stepped in as interim CEO at the beginning of April and now the company has revealed the state of the group he's inherited. At the end of 3Q19 Blackmores' profit was down 43 per cent to $10 million. Revenue was also down 4 per cent to $141 million. For the first nine months the com...

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ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

ACCC takes Bupa to court for allegedly rorting elderly residents of thousands of dollars

Bupa has come under fire from the Australian Competition and Consumer Commission (ACCC) for allegedly charging elderly residents thousands of dollars for services they never provided. The ACCC says Bupa Aged Care Australia made false or misleading representations to its aged care residents in 21 homes about services it did not provide or ...

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Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

Health conscious Aussies becoming a toothache for Easter chocolatiers, experts warn

The rising number of Australians concerned with what they consume is causing chocolatiers to change their product offerings around Easter according to a report by IBISWorld. Whilst the anticipated Easter chocolate spend in Australia will continue to grow this year chocolatiers are being pushed to produce more premium and healthier Easter ...

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Citi to refund $3M over complex investment losses

Citi to refund $3M over complex investment losses

One of the world's largest banks will refund more than $3 million to Australian customers over losses from complicated fixed coupon structured products, following an investigation from the country's financial watchdog. The Australian Securities and Investments Commission (ASIC) put Citigroup under the microscope to examine ho...

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Easter to sweeten cashiers in retail trading spike

Easter to sweeten cashiers in retail trading spike

Retailers from supermarkets to bottle shops to fishmongers have geared up for a flurry of activity this week as shoppers hop into stores to stock up for Easter. Australian Retailers Association (ARA) executive director Russell Zimmerman says while many stores stock their shelves with Easter products just after New Year, the majo...

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Dairy-Free Down Under dares to be different

Dairy-Free Down Under dares to be different

One of Australia's only large-scale vegan cheese and dip manufacturers is gaining traction in retail, restaurant and export channels as it cuts a slice of the rapidly-growing market for plant-based foods. Development of the Gold Coast-headquartered brand Dairy-Free Down Under started in 2015, but it wasn't until March 2018 th...

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Space tourism has potential Australia cannot ignore, experts say

Space tourism has potential Australia cannot ignore, experts say

Heading to the moon for your summer holiday might sound far-fetched, but Australian researchers and entrepreneurs want to make it happen. Our space industry here in Australia has a bright future. The Federal Government's newly created Space Agency is due to launch in Adelaide any moment now, and entrepreneurs from around the country a...

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ACCC takes iSelect to court over its allegedly misleading comparison tool

ACCC takes iSelect to court over its allegedly misleading comparison tool

Comparison service iSelect has wound up in court after the Australian Competition and Consumer Commission (ACCC) alleged that its energy plan comparison service was misleading. The watchdog alleges that since November 2016 iSelect has claimed consumers using its website would benefit from iSelect comparing all plans available from its par...

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Xenith gives in and backs IPH takeover offer

Xenith gives in and backs IPH takeover offer

The materialisation of a mega-firm in the world of intellectual property is one step closer this morning as Xenith IP Group (ASX: XIP) supports a takeover from Australia's largest firm. The board of Xenith has confirmed that it unanimously backs the updated IPH (AX: IPH) offer of an implied value of $2.15 per Xenith share. Under t...

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QANTM backs down on Xenith merger

QANTM backs down on Xenith merger

The battle for control of intellectual property business Xenith IP Group (ASX: XIP) has more or less come to a close now that QANTM (ASX: QIP) has backed out of the ring. After QANTM's rival in the courtship of Xenith, IPH (ASX: IPH), increased its takeover bid Xenith gave QANTM until Thursday 11 April to match the bid. But today,...

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Sidelined JV partners weigh in on Smiles Inclusive board stoush

Sidelined JV partners weigh in on Smiles Inclusive board stoush

Joint venture partners of struggling dental practice Smiles Inclusive (ASX: SIL) are hopeful the current board upheaval could pave the way for an "amicable solution" to a problem they allege has cost around $20 million in lost profit share. Australian Aged Dental Care, which trades as Australian Mobile Dental Care, was one ...

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Medicinal cannabis patient numbers "starting to spike" for Althea

Medicinal cannabis patient numbers "starting to spike" for Althea

Althea now has more staff in London than Melbourne, with expectations its expertise from Australia will bring an advantage over large competitors who have traditionally dealt with easier operating environments. As a relative newcomer to the medicinal cannabis space that only supplied to four patients 11 months ago, Melbourne-based Althea ...

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Seven offloads Yahoo7 to Verizon

Seven offloads Yahoo7 to Verizon

Seven West Media (ASX: SWM) has today completed the sale of its 50 per cent interest in Yahoo7, with American communications giant Verizon picking up the business for $21 million. Seven now fully owns and operates all of its 'direct to consumer' digital products following the divestment of its share in Yahoo7. When Seven annou...

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Loose lips sink ships, Wynn ditches $10 billion Crown takeover

Loose lips sink ships, Wynn ditches $10 billion Crown takeover

Just one day after the soft announcement of a $10 billion takeover of Crown Resorts (ASX: CWN) by Las Vegas based Wynn Resorts the latter has terminated all discussions about the transaction. The American resort chain released a short statement on Tuesday (US time) saying that the sudden and early announcement of the potential takeover pu...

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Rise of veganism is threatening Aussie meat and dairy, warns analyst

Rise of veganism is threatening Aussie meat and dairy, warns analyst

Veganism may have dominated national headlines this week for controversial reasons, but there's no denying the lifestyle choice is gaining fast momentum. So much so that the future growth of the Australian meat and dairy industry is being called into question. A report by IBISWorld claims that rising veganism is threatening demand...

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Three reasons why mastering data could be your biggest benefit

Three reasons why mastering data could be your biggest benefit

Big data is more than just a buzz-term, it's how we quantify everything these days. From website interactions, to the productivity of employees and the nitty gritty of spending, proper data use is essential to guiding a business in the right direction. According to the Harvard Business Review, 48.4 percent of the Fortune 1000 comp...

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Family owned Green Valley shopping centre sold for $17 million

Family owned Green Valley shopping centre sold for $17 million

The Green Valley Shopping Centre has sold for $17.3 million after being owned by the same family for half a century. Located on Green Valley Road, the 2,820sqm retail centre featuring 20 shops was sold to Sydney eastern suburbs family for a sharp yield of close to 6 per cent. Peter Vines from CBRE who managed the competitive expressio...

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