Bega Cheese has acquired Lion Dairy and Drinks for $534 million, returning iconic brands like Dairy Farmers, Farmers Union, Pura Milk, Big M and Yoplait to Australian ownership. It will undertake a $401 million capital raise with the deal expected to be completed by the end of January. China’s Mengniu Dairy had offered $600 million […]

Every New South Wales resident over 18 will be given four $25 to spend separately in cafes, restaurants, and other entertainment venues under the $500 million Out and About scheme announced in the state’s budget. Australia’s best-known chef, Neil Perry, says it’s a great scheme as it forces people to go out and spend the […]

The federal government has signed an 11th-hour settlement in the class-action lawsuit over the unlawful Robodebt scheme which will see $112 million in compensation flow through to about 400,000 victims. Total costs of settling the lawsuit will reach $1.2 billion, the largest bill for a class action lawsuit in Australian legal history. Consumer Action Law […]

Streaming platform Stan will create a dedicated sports channel which will become the home of Rugby Union for the next three years after Nine snared the broadcast rights from Foxtel. Launching in 2021, Stan Sport will show Wallabies Tests and the Rugby Championship, Super Rugby, Sydney-based competition the Shute Shield and Queensland comp the Hospital […]

NAB’s 2020 full-year cash profit has tumbled 37% to $3.6 billion as the cost of tackling COVID eats into margins and blows out costs. However, CEO Ross McEwan has told Money News host Brooke Corte he’s confident Australia is set for a business-led recovery with NAB offering its full support. “We’re starting to see the […]

Donald Trump has falsely claimed victory in the tightly contested US election while vowing to seek an intervention from the US Supreme Court. It’s the nightmare scenario Americans – and global markets – feared the most. Speaking with Brooke Corte from Chicago, US Market Expert Scott Shellady says Wall St set for a volatile session. […]