Smart50 winners honoured in Fast 100 … ASIC website privacy breach exposed … Marks & Spencer reveals retail challenges
Thursday, November 9, 2017/
More than a third of this year’s Smart50 finalists have also been honoured in the Australian Financial Review‘s Fast 100 list for 2017.
They are joined on the list by 15 other Smart50 finalists, including BrandLink, TopBetta, Search365, Cloud Plus, Superdraft, Easy Signs, Development Finance Partners, Tentworld, Empower Wealth, Booktopia, S1T2, Blisscare Health, Super Easy Storage, Lawson Elliot Recruitment and Marketing Melodies.
Last year’s Smart50 winner Prospa took out second place on this year’s Fast 100 list, while online travel agency TripADeal took out first place on the list.
The Fast 100 list ranks fast-growing Australian businesses according to average annual revenue growth over four financial years, whereas the Smart50 rankings are determined by overall revenue growth over a three-year period.
ASIC privacy breach exposed
A flaw in the website of the Australian Securities and Investment Commission has allowed users to obtain the search histories of other individuals using its database, reports The Guardian.
ASIC was reportedly notified of the issue 12 days ago, after a businessman uncovered a new function in ASIC’s search registry led to a page in which a user can view the previous searches of other users by entering their email addresses and a date range.
The flaw reportedly allows users to view the search histories of journalists and private equity firms. The Guardian contacted ASIC for comment.
Marks & Spencer to “accelerate” store closures
UK retailer Marks & Spencer says it will speed up its store restructure plan and open less “Simply Food” stores than planned after sales as profits for the first half of the year fall 5.3% across the group.
“The business still has many structural issues to tackle as we embark on the next five years of our transformation, in the context of a very challenging retail and consumer environment,” chief executive Steve Rowe said yesterday, reports The Independent.
Chairman Archie Norman said the business had been drifting for “fifteen years”, as the retailer puts the breaks on a planned rollout of plans for 200 stores in a fresh food format.