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Noni B owner to cop $25M penalty for delivery time promises
Noni B owner Mosaic Brands has been hit with a $25 million penalty for breaching consumer laws by failing to delivery 740,000 packages within the time frame specified on its website.
ASIC cancels MWL Financial’s licence over Shield Master Fund investments
The corporate cop has cancelled the financial services licence of MWL Financial and banned its director for 10 years for allegedly directing more than 750 clients to invest a combined $155 million into Keystone's failed Shield Master Fund.
Celebrity surgeon appeals loss in defamation case against Nine
Orthopaedic surgeon Dr Munjed Al Muderis has appealed his loss in a defamation case against Fairfax and its owner Nine, after a judge found media reports of unethical and profit-driven promotion of an experimental procedure were substantially true.
Construction PRO
TagEnergy acquires renewables developer ACE Power
French renewable energy company TagEnergy has scooped up Australian renewables developer ACE Power, acquiring a portfolio of 6GW battery, wind and solar projects.
Nuix must foot $20M in legal bills given ‘notorious’ costs of securities class actions: judge
Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.
Slater & Gordon to usher in new leadership after email scandal
Slater & Gordon is poised for new leadership, with chair James MacKenzie and two other directors set to depart in the wake of a scandal that saw all staff salaries disclosed in a firm-wide email.
Construction PRO
Ki Corporation, Public Storage pull $2.2B offer for Abacus Storage King
A consortium of Ki Corporation and New York Stock Exchange-listed Public Storage has pulled a $2.2 billion offer to acquire Abacus Storage Kings.
Construction PRO
‘Perverse’: Court lambasts delay in ruling on challenge to Woodside’s North West Shelf
Two elections and three different Environment Ministers later, and a heritage application to protect Murujuga rock art from Woodside's activities on the North West Shelf remains undecided -- a delay blasted by a judge as unreasonable and perverse.
Construction PRO
Maplewood acquires Perth site for student housing development
Singapore-based developer Maplewood Investments has acquired a 1,398 square metre site in Perth's CBD to develop a premier 835-bed student housing accommodation.
Construction PRO
Government unveils measures to speed housing development
The federal government is planning a pause on new construction rules as it aims to speed development of new housing, following feedback from its three-day economic reform roundtable.