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Business News - Business, finance, political, & economic news.

Corporate Finance DealsView all

ResApp raises $7.5m

Medical tech company ResApp Health has announced a $7.5 million capital raising as it moves to commercialise its smartphone app, which aims to diagnose and manage respiratory diseases.

Poseidon averts Asic objection

Aspiring miner Poseidon Nickel has completed a $69 million entitlement offer without having to call on support from its sub-underwriter, Andrew Forrest’s Squadron Resources.

Asic challenges Forrest's Poseidon deal

The corporate regulator has objected to an underwriting deal under which Andrew Forrest’s Squadron Resources could end up with as much as 61 per cent of Poseidon Nickel.

Beekeepers support Capilano takeover bid

The beekeeper-owners of Capilano Honey have thrown their support behind a private equity takeover bid for the Australian company.

OpenDNA acquires new digital agency

Subiaco-based marketing business OpenDNA has completed a $2.5 million placement and announced it will acquire Perth-based Choose Digital and Chinese-focused RooLife.

Most CommentedView all

Tax policy failure a missed opportunity

Opinion: Riding on a bus in Sydney almost two decades ago, my mother was worried we’d be homeless if the country went into a recession, as many were suggesting could happen after the Howard government introduced the GST.

Jail sentence for UWA Guild theft

A former UWA Student Guild staff member who stole around $560,000 has been sentenced to a four year jail term, after Business News reported in 2014 he had left his role and that accounting firm BDO had been hired for a forensic audit.

Voyager targets tourists with provenance push

Dining accolades, tourism successes, exploratory wines and a new venture in the pipeline – it’s a big year for Voyager Estate, which is celebrating its 40th anniversary.

GovNext will not deliver planned savings

The Barnett government’s ambitious GovNext ICT program was based on flawed assumptions and will not achieve the anticipated savings but still holds potential to deliver significant benefits, a review has found.

WA risks skills shortage

A 7.4 per cent decline in the number of WA trainees and apprentices in-training is leaving the state at risk of a skills shortage.

Politics & the EconomyView all

WA population hit by interstate losses

Western Australia’s population increased by just 0.8 per cent in the year to March, continuing its recent trend of soft growth, while nationally population growth slumped to a two-year low, new data out today shows.

WA govt moves to ban online lotteries

Moves are under way in Western Australia to ban online lottery betting organisations, with the state government saying it will protect Lotterywest and minimise harm to at-risk gamblers.

Trade war risks collateral damage

Market fears for the outcome of the escalating tariff war between the world’s two biggest economies have heightened during the past week, with history showing what could be a significant impact on consumers, and employment.

Six WA prison guards face corruption probe

Six female prison officers, who either quit or were sacked from Acacia Prison in Wooroloo WA for having "inappropriate relationships" with inmates, have been referred to the Western Australian Corruption and Crime Commission.

Unemployment steady in the west

Western Australia’s unemployment was steady in August at 6.2 per cent in trend terms, despite a small rise in the number of people employed, although the level was much lower for women than men.

Upcoming Business News EventsView all

BelleVue Ballroom 1 PCEC - 12 October 2018

The Westin Ballroom - 24 October 2018

PropertyView all

Property Council cautiously backs noise reforms

The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.

The Agency confirms Top Level buy, $13m equity deal

Perth-based The Agency Group Australia has executed an option to acquire east coast real estate group Top Level for $5.5 million, while also announcing an $8.4 million capital raising and a $5 million debt conversion deal.

Carmel, Aegis win Joondalup project

Property developer Carmel Group and Aegis Aged Care Group have been chosen to build a $100 million multigenerational development at the former Joondalup Basketball Stadium.

ABS house price data at odds with CoreLogic

New data from the Australian Bureau of Statistics shows a less severe annual decline in Perth house prices than other sources.

All Earth Group into administration

Maddington-based civil contractor All Earth Group, which held contracts on two state government projects, has gone into voluntary administration.

WA Event CalendarView all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, complete the online submission form.

Arts & CommunityView all

Earbus gets the message out

The Earbus Foundation of WA has been recognised for its charity work and business structure.

Holmes a Court to chair AGWA

The state government has announced Janet Holmes a Court will replace Sam Walsh as chair of the Art Gallery of WA, amidst uncertainty around the future of chief executive Stefano Carboni.

McKenna resigns from Screenwest

Seph McKenna has unexpectedly resigned as chief executive of Screenwest, only nine months into his five-year term.

Designers plan global assault

SPECIAL REPORT: Asia and the US are the big targets for Perth designers who hope to break onto the world stage.

Magadza to run arts body

A former artistic director of the Perth Festival is returning to Western Australia to become executive director of the Chamber of Arts and Culture WA

EnergyView all

ERA orders lower Western Power costs

An overnight decision by the Economic Regulation Authority will put downward pressure on power prices, with network operator Western Power ordered to further tighten its belt in the next four years.

Softer notes on power competition

The state government appears to be continuing to back away from plans to introduce increased competition in electricity retailing, with Economics and Industry Committee chair Jessica Shaw saying she’d like to see more evidence it would reduce prices.

Falling revenue pressure for Synergy

Electricity retailer Synergy hit an after-tax profit of $24.3 million in the year to June, an improvement of $36 million, aided by about $140 million of state government subsidies, while increased uptake of household solar continues to put pressure on revenue.

Protean in $3m South Korean investment

A half-owned subsidiary of Perth-based Protean Energy has received a $3 million investment from the South Korean government for a $9.7 million vanadium battery project.

Chevron to browse Clio, Acme options for backfill

Chevron’s Clio and Acme gas fields could provide backfill supply for an existing LNG plant, most likely North West Shelf Venture’s Karratha facility, under a plan to be unveiled by the company’s Australian managing director Nigel Hearne this afternoon.

"Mark My Words" PodcastsView all

21 September 2018

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

21 September 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss government contractor failures, house prices, population growth, LNG revival, Austal, performance share winners, and our special report on tourism.

14 September 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Startups, Metronet, Perth Airport, Volt Power, Kreepy Krauly, and BN's special report on gold miners

07 September 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the opening of WA’s 7th lithium mine, Perth house prices, a cyber security business backed by John Poynton and ECU, Tourism WA, skills shortages, WA Ballet's Dracula, two notable arts appointments and our special report on fashion – with Jessica Gomes, and WA designers discuss the export market.

31 August 2018

Podcast: Mark Beyer and Mark Pownall discuss Northern Star Resources, Terry Agnew, legal issues, RCR Tomlinson, GovNext and our special report on professional services focuses on accountants.

Food & WineView all

WA wineries taste more success

Western Australian wineries have continued their recent run of success, with Howard Park’s Janice McDonald crowned the Gourmet Traveller winemaker of the year and Frankland Estate's Judi Cullam claiming the Len Evans award last night.

Bajaj games-out growing his dominion

Saran Bajaj is combining his love of arcade games with staple bar offerings of cocktails and pizza at his new venue, Palace Arcade.

Lamont in for Langoulant at Committee for Perth

John Langoulant will retire as chair of advocacy group Committee for Perth in November, to be replaced by businesswoman Kate Lamont.

Janssen consolidates success

Two-time 40under40 winner Anthony Janssen is no stranger to the bumpy ride that accompanies entrepreneurship.

Voyager targets tourists with provenance push

Dining accolades, tourism successes, exploratory wines and a new venture in the pipeline – it’s a big year for Voyager Estate, which is celebrating its 40th anniversary.

Special ReportsView all

Fashion 2018

Fashion 2018

10 September 2018

Local fashion players look at overseas markets.

Designers plan global  assault
Jessica Gomes grows to Asia
Professional Services 2018

Professional Services 2018

03 September 2018

Seven-page special report on accounting sector.

PKF, Hall Chadwick reposition in WA
Mixed results on gender equity
Shifting local alliances
Power and Energy 2018

Power and Energy 2018

27 August 2018

$3 billion of projects hit by uncertainty.

$3bn of projects amid market flux
Changes on horizon for Pilbara
Waste-to-energy investment tops $870m

MiningView all

Black Rock signs graphite agreement

Black Rock Mining has signed a strategic agreement with a Chinese machinery company to supply plant equipment and source up to $US40 million ($55 million) for the graphite explorer’s Mahenge project in Tanzania.

Blackham in $23m deal

Gold producer Blackham Resources has announced a $23 million funding deal with New York-based fund manager The Lind Partners to repay lender Orion and finalise an expansion study for the Wiluna project.

Executives perform for $38.7m share

Twenty local executives acquired $38 million of shares at no cost over the past 3 months, research by Business News has found.

$100m for Oakajee, Sundance projects

A private Chinese company is planning to invest $100 million in two major iron ore projects that have been dormant for the best part of a decade - the Oakajee port in WA's Mid West and Sundance Resources' Mbalam Nabeba mine in Cameroon.

WA prospector finds $110k gold nugget

A massive gold nugget worth at least $110,000 has been uncovered by a prospector in the northern Goldfields, weeks after Canadian gold miner RNC Minerals made an even bigger discovery near Kambalda.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss government contractor failures, house prices, population growth, LNG revival, Austal, performance share winners, and our special report on tourism.

Wentworth to influence WA Libs

Opinion: While the issue of gender quotas has been a winner for Labor, it remains a divisive topic within Liberal ranks, as the recent pre-selection for the Wentworth by-election indicates.

Envy card a losing hand

Opinion: The improvement in quality of life and opportunity for all but a few over recent decades shows the true progress towards a more inclusive society.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Startups, Metronet, Perth Airport, Volt Power, Kreepy Krauly, and BN's special report on gold miners

Don’t delay, make your move

Opinion: Making the step from a trade show to a sale requires pre-planning, and speed is of the essence.

RetailView all

Govt cuts back Christmas trading hours

The Chamber of Commerce and Industry of WA has lashed the state government’s decision today to reduce extended Christmas trading hours as applied last year.

Coles, Woolworths announce milk levy

Customers will pay more for home-branded milk at Coles and Woolworths stores with the levy to be passed on to dairy farmers gripped by drought.

Kathmandu rewards staff after sales surge

Kathmandu is rewarding staff after the outdoor equipment retailer's full-year profit surged almost a third to $NZ50.5 million ($46.3 million) thanks to a big jump in Australian sales.

Myer CEO buys up as shares surge

Myer chief executive John King has increased his stake in the beleaguered retailer, purchasing 100,000 shares a day after it posted a full-year net loss of $486 million.

Myer shares fall after $486m FY loss

Shares in department store Myer have fallen to a two-month low after the embattled retailer reported a full-year net loss of $486 million.

Bulls N' BearsView all

Bulls N' Bears

Lithium Australia eyes new jurisdictions for pilot plant

Location and scale are two areas that Lithium Australia is studying for its planned, large-scale lithium processing pilot plant to reduce capital requirements and optimise the technical and financial benefits. The company said that with changes to the Australian Federal Government’s R&D rebate scheme, it would locate its pilot plant in a jurisdiction that will provide the greatest practical benefits.

Artemis hits multiple minerals at depth in Pilbara

Artemis Resources’ drill campaign at Carlow Castle has uncovered the potential for more mineralisation at depth with a notable intersection of 25m @ 3.38g/t gold, 0.24% cobalt and 0.77% copper from 228m including 5m @ 9.62g/t gold, 0.65% cobalt and 0.79% copper. Further extensional and infill drilling is planned to target further strike extensions and define the major controlling structures.

Galena adds $134m in value at Abra

Galena Mining has reported some outstanding results for its Abra lead/silver project PFS, showing an initial 14 year mine life and a pre-tax NPV of A$528m, $134m more than previously thought. Galena says Abra will churn out an impressive A$97m worth of free cash annually after 2022. The company also reported a maiden ore reserve of 10.2 million tonnes grading 8.1% lead and 20g/t silver this week.

Azumah scrubs up Ghanaian gold show

Azumah Resources has reported that a review of the cost structure at the company’s Wa gold project in Ghana shows lower capital and operating costs compared to its 2015 feasibility study. The work shows higher plant throughput could be achieved, potentially positioning the project for future development. Recent exploration activity has defined a number of new drilling opportunities at Wa East, which has seen little or no historical work.

Indians to plough $10m into TNG

ASX-listed vanadium player TNG Limited has taken another step towards development of its vanadium-titanium-iron project in the Northern Territory, securing a $10 million strategic investment deal with a leading Indian mining conglomerate. TNG sees the deal with Vimson, a family-owned Indian resources company, as another milestone on its move towards making its flagship 100 percent-owned Mount Peake Project a reality.

Most viewed companies

All Earth

All Earth

Ranked 62nd from 82
Contractors

iCetana

iCetana

Ranked 137th from 142
Startups

Tribune Resources

Tribune Resources

Ranked 18th from 30
Gold Miners

Galati Group

Galati Group

Ranked 10th from 46
Agribusiness

Most viewed people

Chris Farquhar

Chris Farquhar

Former Chief Executive, iCetana
Former System Analyst, BHP Billiton
Former Research Scientist (HIsmelt Corporation), Rio Tinto

Scott Fleay

Scott Fleay

Former Managing Director, Greenwich &
Co

John Poynton

John Poynton

Director, Linc Property
Non-Executive Chairman, Giving West
Council Chairman, Christ Church Grammar School
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Jindalee Partners
Non-Executive Director, Crown Perth
Non-Executive Chairman, Strike Energy
Board of Guardians, Future Fund
Executive Chair, Sapien Cyber

Terence Clee

Terence Clee

Executive Director (since 2017), (Non-Executive Director 2015-2017), Victory Mines
Executive Director (Executive Chair since April 2018), Hardey Resources
Non-Executive Director, JV Global

Tim Andrew

Tim Andrew

Board Member, Swimming WA
Co-Founder, Director, View Street Partners

Thought LeadershipView all

Driving tourism dollars to your destination

It’s been more than 20 years since Bill Gates declared “content is king”, and much has changed in the social and global market since then.

A Father’s Day Special – Mental Health, Don’t Simply Bear It!

According to the Australian Bureau of Statistics, men are three times more likely to commit suicide than women, with suicide one of the highest causes of death for men under the age of 35…but why?

Cyber Villains and Heroes: the quest for a cyber-secure future.

The Cyber Security Review, led by the Department of the Prime Minister and Cabinet, found that cybercrime costs the Australian economy up to $1 billion annually. According to the U.S.

No point going back to the future, we’re in it!

Do you use Siri on your iPhone? Own a smart vehicle? Used the on-line pop-up helper on the ATO or a similar website?

Breaking into the global marketplace

With the rise of globalisation comes the increasing demand for businesses to expand into international markets in order to stay competitive. This can create significant opportunities for organisations of all sizes, however it can also pose a great risk if approached in the wrong way.