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

Corporate Finance DealsView all

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.

Todd to raise $4.2m

Subiaco-based copper hopeful Todd River Resources plans to raise $4.2 million for drilling work at its Mt Hendy discovery in the Northern Territory.

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.

A lesson in complacency

Opinion: The government’s newfound interest in attracting foreign students to WA is welcome, but long overdue.

Friend, families, fools and angels

There’s plenty of room for growth in WA’s angel investment sector.

Deloitte, Aecom win key Westport work

The state government has contracted Deloitte and AECOM to undertake studies on shipping volumes and traffic flows that will be pivotal to its Westport outer harbour project.

Morrison hopes to unite party, country

Prime minister designate Scott Morrison has admitted his party was battered and bruised this week, but committed to focus on unifying the country, with a review of the government's drought response his number one priority.

Politics & the EconomyView all

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.

Searle resigns from Dept of Communities

Department of Communities director general Graham Searle has resigned from the role, with the decision believed to be due to illness.

State government talks up strata reform, Metronet

The state government is negotiating with the Liberal and National parties to facilitate the upper house passing its proposed strata reform legislation.

Morrison satisfied no gender bullying in Lib spill

Scott Morrison is "absolutely satisfied" none of his MPs were bullied because of their gender during the recent leadership spill.

Upcoming Business News EventsView all

BelleVue Ballroom 1 PCEC - 12 October 2018

The Westin Ballroom - 24 October 2018

PropertyView all

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.

House values forecast to decrease to 2020

New research from Moody's Analytics has forecast Perth house values to fall slightly in 2018, and again in 2019, before a slow recovery in 2020.

Hibernian Place tops UDIA awards

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

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

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

Southern Plus, Hall & Prior unveil aged care facilities

A wave of investment in the WA aged care sector has continued, with Southern Plus opening a luxury care facility in the same week as Hall & Prior announced it would proceed with a $60 million redevelopment.

EnergyView all

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.

Hydrogen a potential energy option

The cost of hydrogen production could be competitive enough for Western Australia to become a exporter in the next decade, while use in applications such as remote area power systems is not far away.

Vicinity to spend $20m on WA solar

ASX-listed Vicinity Centres has announced it will invest about $20 million across three Perth shopping centres as part of the second stage of its national solar power project.

Pair charged after Horizon Power probe

Two people have been charged following an investigation by the Corruption and Crime Commission into state-owned utility Horizon Power.

RCR cost blowout, FY18 loss and $100m raising

RCR Tomlinson has revealed the details of a $57 million write-down at one of its solar projects, with the contractor today announcing a $16.1 million loss for the 2018 financial year and a $100 million capital raising to help cover the cost overruns.

"Mark My Words" PodcastsView all

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.

24 August 2018

Podcast: Mark Beyer and Mark Pownall discuss Canberra turmoil, John Langoulant, Perth property prices, Santos, nickel’s recovery and our special report – power and energy.

17 August 2018

This week Mark My Words covers a broad range of topics including international students, health department corruption, liquor licenses, Ausdrill and Barminco merging, our exclusive report on retail property, and our special projects list.

Food & WineView all

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.

Liquor licensing reforms take effect

State government reforms that liberalise the rules governing permanent licensed premises but tighten up on pop-up venues come into effect this weekend, as new data shows 114 licensed premises have opened in Western Australia this year.

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
Technology Innovators 2018

Technology Innovators 2018

13 August 2018

Who are the WA market leaders?

Tech leaders slowly emerge
Progress made on submarine cables

MiningView all

Kalium flags $284m capex for Beyondie

Kalium Lakes has released a bankable feasibility study for its Beyondie sulphate of potash (SOP) project in the Pilbara, which the company says has compelling technical and economic outcomes.

Ramelius to head underground

Gold producer Ramelius Resources has announced plans to begin underground mining at its Edna May operation near Southern Cross early next year.

Panel makes adverse ruling on Tribune

The Takeovers Panel has made a finding of unacceptable circumstances against ASX-listed Tribune Resources, which is led by managing director Anthony Billis.

Juniors get down to business

SPECIAL REPORT: Several junior gold-focused companies in WA are vying to mature from exploration to production.

Miners consolidate holdings

SPECIAL REPORT: The state’s gold industry is planning to invest more than $1 billion in exploration and development to sustain continued modest growth in production.

OpinionView all

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.

Retail ructions amid slowing sales

Opinion: Retailers face ongoing challenges, as sluggish sales square off with pay problems and online competition.

Private players hold the fort on CEO tenure

Opinion: A look at the length of CEO tenure across the sphere of corporate activity points to some interesting parallels, and other key differences.

Mark my words podcast

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.

RetailView all

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.

Harvey Norman posts 16.4% FY profit drop

Harvey Norman's full-year profit has slumped 16.4 per cent to $375.4 million due to property revaluations and the furniture and electrical goods retailer's failed dairy farming investment.

Caltex eyes part-sale of retail assets

Caltex Australia says it is considering selling part of its convenience retail assets valued at $2 billion, even as higher costs kept its first-half profit at the lower end of its guidance.

Bulls N' BearsView all

Bulls N' Bears

2% nickel hit for St George near Leonora

St George Mining has confirmed that mineralisation at its Investigators nickel-copper prospect near Leonora in W.A becomes thicker in the down dip direction after intersecting 8.4m @ 2% nickel, 0.96% copper, 0.06% cobalt and 2.59g/t total PGE from 199m. Further step-out drilling is underway while down-hole electromagnetic surveys are being run near one of the very strong conductors.

Greenland Minerals set to trim Kvanefjeld costs

Greenland Minerals and Energy is completing an optimisation program at its Kvanefjeld rare earths project in southern Greenland that will simplify project construction, minimise civil earth works and reduce associated capital costs. Recent onsite engineering studies by a multi-disciplinary team of engineers are expected to reduce the amount of construction effort required for the civil construction, port and plant sites.

Mineral sands miner gets gold hit

Mineral sands miner Image Resources has unearthed anomalous, shallow gold intersections during its first-pass drill program at the Erayinia prospect, located east of Kalgoorlie. The best result was 20m @ 0.7g/t gold from 40m down-hole, including 4m @ 1.2g/t gold from 48m and 4m @ 1g/t gold from 56m. The company will conduct a larger program of aircore drilling now to test 7km of prospective strike extensions.

Novo locks in two Pilbara gold deals in a week

Celebrated conglomerate gold specialist Novo Resources will acquire two strategic gold projects 80km south of Port Hedland. The company will fund exploration for two years to farm into Pioneer Resources’ Kangan gold project to earn a 70% interest for a consideration of $600,000 in cash and scrip. Novo will also acquire 4 key tenements from a private company in the area for cash and shares totalling A$8m.

88 Energy rubbing shoulders with oil majors in Alaska

A Perth based ASX listed junior has quietly been sweeping up big swathes of lucrative acreage in Alaska’s hottest oil province known as the North Slope with the truth diviner in the form of a drill rig about to be put to the test in coming months. 88 Energy will soon drill a well targeting up to 400 million barrels at its Western Blocks project in the region.

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.

Peel Business Park, Western Australia’s new home of agri-innovation and industry

The future of land development is squarely focused on innovation and sustainability. Peel Business Park in Nambeelup is a leading example, providing unlimited potential to savvy investors and developers of agri-innovation and ancillary industries.

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?