New acquisitions make QBL a major cannabis player

New acquisitions make QBL a major cannabis player

After almost two months in a trading halt Queensland Bauxite Limited (ASX: QBL) has returned to the market with a significant announcement about the transformation of its cannabis industry activities. The company, which has become a major player in the cannabis sector over the last year, has announced a transformation project, seeing Quee...

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Offshore buyers may fill the void as BP dumps bid for Woolies petrol

Offshore buyers may fill the void as BP dumps bid for Woolies petrol

The national retail petrol market could open up to new competition after BP Australia pulled out of an ambitious $1.8 billion plan to buy Woolworths' retail fuel network.

At least three international parties have been rumoured to be in the running for the acquisition, namely private equity group Kohlberg Kravis Roberts, Canadian retail fu...

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Bellamy's organic movement hits Tasmania

Bellamy's organic movement hits Tasmania

Bellamy's (ASX: BAL) has made a $5.5 million investment to assist Tassie farmers in transitioning to organic practices. The infant formula producer has signed a deal with global dairy giant Fonterra to help Tasmanian farmers switch to organic practices, in an effort to increase the local supply. Bellamy's will make an initial ...

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Court approves history-making settlement between Comm Bank and AUSTRAC

Court approves history-making settlement between Comm Bank and AUSTRAC

The Federal Court has today approved settlement between Commonwealth Bank (ASX: CBA) and the Australia Transaction Reports and Analysis Centre (AUSTRAC) over the anti-money laundering case which was brought against the financial services giant in August last year. CBA agreed in early June 2018 that it would pay $700 million in civil penal...

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Satellite company Kleos Space set to launch

Satellite company Kleos Space set to launch

A highly successful seed-funding round in Australia earlier this year prompted Luxembourg-based tech company Kleos Space to seek a listing on the ASX, but according to chairman Peter Round this is no start-up venture. "Technically we're a start-up because of the timing of when the company began, but we're not a start-up in te...

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Cannabis companies hit new high with fresh capital

Cannabis companies hit new high with fresh capital

Two of Australia's leading listed cannabis players have raised millions in funds to boost their businesses in Australia and overseas. Botanix Pharmaceuticals (ASX: BOT), a medical dermatology company combatting serious skin diseases with cannabis-based products, has successfully completed an oversubscribed placement to raise $8 millio...

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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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Bank cartel case claims high-profile scalp at ASX

Bank cartel case claims high-profile scalp at ASX

The cartel scandal that has rocked the Australian banking industry has claimed another scalp with the resignation of former JP Morgan Australia CEO Robert Priestley from the board of ASX Ltd (ASX:ASX). The move comes less than two weeks after ASX expressed confidence in Priestley who was head of the investment giant's Australian arm w...

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Bubs announces $40m share placement to support expansion into China

Bubs announces $40m share placement to support expansion into China

Shares in Bubs Australia Limited (ASX: BUB) have resumed trading after the infant formula producer announced a $40 million injection of fresh capital through an oversubscribed share placement. The fresh placement follows the recent announcement of a number of agreements with Australian and Chinese partners as part of the group's Chine...

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Biotech company Sirtex accepts $1.87b foreign takeover offer

Biotech company Sirtex accepts $1.87b foreign takeover offer

Australian biotechnology and medical device group Sirtex Medical (ASX: SRX) has agreed to a $1.87 billion takeover offer from Chinese company CDH Genetech. The listed Australian company says it has entered into a binding agreement with CDH to sell all its shares at $33.60 per share. Varian Medical Systems was previously bidding for Si...

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Aussie drone defence company lands historic deal in the Middle East

Aussie drone defence company lands historic deal in the Middle East

Sydney-based drone defence company DroneShield has completed the largest order in its history, selling a record number of its tactical DroneGun products to the Middle East. The deal, which is also reportedly the largest known order of its kind in the world, is worth $3.2 million and involves the sale of 70 DroneGun units to a classified a...

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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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APA the target of $13b Chinese takeover

APA the target of $13b Chinese takeover

APA Group (ASX: APA) has opened its books up to a group from China which has offered $13 billion to take over the Australian company. The Australian energy giant says it has granted due diligence to a consortium led by CK Infrastructure Holdings (CKI) following a proposed cash offer of $11 per stapled security. APA holds several key a...

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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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AMP drops off ASX top 20 index

AMP drops off ASX top 20 index

After weeks of bad news, embattled financial services provider AMP has dropped off the top 20 list of ASX listed companies. The company, which has gone through the wringer over the last month, is no longer one of the 20 largest companies on the Australian Securities Exchange, instead being replaced on the list by global packaging company ...

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Bubs signs major deal with leading Chinese e-commerce platform

Bubs signs major deal with leading Chinese e-commerce platform

Bubs Australia (ASX: BUB) has partnered with leading Chinese e-commerce platform Alibaba to sell its products on the Tmall Global store. Alibaba has 580 million monthly users across its different apps, with mother and baby products the second largest category on Alibaba, spearheaded by infant formula. Bubs expects the Global Merchandi...

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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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Metcash reveals $352m hit to business, predicts full year loss

Metcash reveals $352m hit to business, predicts full year loss

Grocery wholesaler Metcash (ASX: MTS) is expecting a greater-than-expected $352 million hit to its business and a full year loss after it lost a key customer in South Australia. Last week Metcash, which supplies the IGA and Foodland supermarkets, announced that Drakes Supermarkets would no longer be a customer after June 2019. Metcash...

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Listed cannabis group scores major deal with Good Price wholesaler

Listed cannabis group scores major deal with Good Price wholesaler

Bod Australia Limited (ASX: BDA) has signed an agreement with a leading Australian pharmacy wholesaler, Symbion, to service major Aussie pharmacies. Under the agreement, Symbion will stock Bod's range of natural medicines and pregnancy supplements. Symbion is one of Australia's leading pharmacy wholesalers, servicing over 3,50...

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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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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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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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Oliver's Real Food share price wiped on downgraded earnings

Oliver's Real Food share price wiped on downgraded earnings

Shares in Oliver's Real Food (ASX: OLI) have plummeted by almost 60 per cent after the company issued an earnings warning on Wednesday. The company, which runs a series of healthy fast food outlets, reduced its EBITDA forecast by nearly $1.5 million, blaming lower than forecasted Easter sales, underperforming new stores, delayed openi...

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Shine becomes latest class action firm to take a crack at AMP

Shine becomes latest class action firm to take a crack at AMP

Shine Lawyers (ASX: SHJ) has filed a class action lawsuit against AMP (ASX: AMP) in the Federal Court, becoming the third firm to officially launch proceedings against the financial services giant. Supported by litigation funder Augusta Ventures, Shine will argue that AMP mislead and deceived its customers over financial advice which it c...

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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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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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