A2 Milk Company Ltd(A2M)：
The firm settled out of court with Lion Dairy & Drinks over a long-running dispute about the rights to use the term "A2 protein" on their labels. A2 Milk and Lion Dairy & Drinks did not provide details about whether Lion, which is owned by Japanese brewing giant Kirin Corporation, will continue to use A2 on its PURA and Dairy Farmers milk labels. A2 Milk had argued that Lion was engaging in misleading and deceptive conduct by including the statement "contains A2 proteins" as their milk also contains A1 proteins.
Accent Group (AX1):
Retail billionaire Brett Blundy has thrown his weight behind Accent Group, building up a $90 million stake and joining its board in a big bet on footwear firm’s future. “As a shareholder and director, I see significant opportunities to grow the business,” he said. “We are delighted that he has agreed to join our board and look forward to his contribution,” Accent Group chairman David Gordon said of Mr Blundy’s appointment.
Telstra(TLS) & News Corp(NWS):
The merger of Fox Sports and Foxtel has been given a green light by the regulator, after its review found joining the companies together would not lessen competition. Rupert Murdoch's News Corp owns 100 per cent of Fox Sports and is part owner of Foxtel in a joint arrangement with telecommunications company Telstra. The new merger will bring the two companies together under common ownership, with News to hold 65 per cent and Telstra 35 per cent.
Nufarm(NUF):
Nufarm shares have fallen after the agricultural chemicals supplier warned its half-year earnings would suffer from weak November trade and the planned shutdown of its Victorian facility. Chief executive Greg Hunt told the company’s annual general meeting that Nufarm expected half-year earnings of $70 million to $80 million. That compares to $85 million in underlying earnings before interest and tax in the prior corresponding period. Nufarm’s (NUF) November sales had been hit by a delay in the farming season across parts of Latin America and a 10 per cent fall in the Brazilian market, year-on-year, he said.
CSL Limited(CSL):
Australian biotech giant CSL has expanded its local manufacturing capacity with the opening of a $230 million facility, which will add 200 new jobs and generate $850m worth of product each year. The Australian-listed global company today officially opened its new advanced manufacturing facility at its CSL Behring site at Broadmeadows, Victoria. The new facility was designed to meet growing global demand for Albumin — a protein derived from human plasma that is used in critical care to treat burns and shock. The new plant will be constructed over two modules, with today’s opening the completion of module one. That module will expand albumin production on the site to 100 tonnes per annum. When it comes online, module two will add a further 100 tonnes in capacity.
GetSwift Limited(GSW):
Software logistics company GetSwift has been place in a trading halt ahead of an announcement on a proposed capital raising. It comes after trade was suspended last week by the ASX after GetSwift’s share price more than doubled, following an announcement it had signed a global agreement with Amazon, although it provided few further details. GetSwift (GSW) uses a proprietary algorithm to optimise delivery routes, and automates the delivery dispatch process, providing real-time tracking.
TPG Telecom Limited(TPM):
TPG Telecom has unveiled plans to build a cut-price internet system in Adelaide’s CBD that is up to 100 times faster than the National Broadband Network, in its latest bid to recover millions of dollars in revenue it has lost to the federal infrastructure project. Adelaide City Council said it would roll out a fibre network through the CBD and the city’s north from next year offering speeds of up to 10 gigabits per second — compared with the 100 megabits per second offered under NBN’s fibre-to-the--premises connections — and would charge businesses nothing for installation. TPG has lost vast numbers of customers to the NBN but plans to recapture much of that market by offering cheaper 5G mobile connections over its newly -acquired spectrum.
(Source: AIMS)
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