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KMD Brands, owner of Kathmandu and Rip Curl, saw its share price drop 7.7 per cent in Friday trading after weaker-than-expected sales, warning consumers are avoiding the shops amid challenging cost of living pressures.

Fuel and convenience giant OTR is suing a public relations and lobbying firm over claims one senior executive set up fake social media profiles to smear the company while it was defending a multimillion-dollar class action.

Rex’s efforts to steal market share from its much larger rivals have taken a daring turn as the former regional carrier launches transcontinental flights to Perth for a bargain $99.