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

Corporate Finance DealsView all

AWE in the midst of a takeover battle

Mineral Resources has launched a $484 million takeover bid for oil and gas group AWE amid the ongoing battle for control of the Waitsia gas field north of Perth.

Cleanaway to buy Tox Free for $671m

The directors of Osborne Park-based Tox Free Solutions have decided to cash-in on 17 years of successful national growth by accepting a friendly $671 million takeover offer from waste management competitor Cleanaway.

Walkabout in $10m raising

Junior explorer Walkabout Resources will tap investors for up to $10 million through a placement and rights issue as the company continues exploration at its African projects.

Nelson makes ASX debut

Minerals explorer Nelson Resources started trading on the ASX today after raising $5 million from investors by way of an initial public offer.

Kin secures $35m debt facility

Aspiring gold miner KIN Mining has signed a binding term sheet for a $35 million debt package with Canada-based Sprott Private Resource Lending.

Most CommentedView all

Design change for Swan River bridge

The state government has approved design alterations to the Swan River pedestrian bridge in an attempt to cut $4 million in construction costs, while also announcing further delays to the bridge’s opening date.

Margaret River Gourmet Escape set to end

Western Australia's premier food and wine event, Margaret River Gourmet Escape, will be held in its current form for just one more year, with the state government planning a reconfigured event that includes the Swan Valley in 2019.

Byrnecut slams payroll changes

Byrnecut executive chairman Steve Coughlan has slammed the state government’s decision to crack down on payroll tax exemptions, saying his company will no longer receive the exemption for courses being undertaken by 1,200 employees.

Western Power aims for $1bn savings

Western Power plans to reduce spending by nearly $1 billion in the next five years compared to the five years just gone, according to a proposal by the state-owned network operator to the state’s economic regulator.

MRA knocks back $450m Scarborough twin towers

The Metropolitan Redevelopment Authority has rejected a $450 million proposal for two towers near Scarborough beach with the developer behind the project, 3 Oceans Property, saying the decision was a missed opportunity to show courage and vision.

Politics & the EconomyView all

$A continues to creep higher against $US

The Australian dollar is a little higher against its US counterpart which has remain unchanged.

Oil rise on Forties Pipeline shutdown

Oil have risen, overcoming declines early in the session, after a North Sea pipeline shut for repairs and investors focused on commodities following an explosion in New York.

Gold steadies as traders await Fed meeting

Gold has steadied below $US1,250 an ounce after its biggest weekly drop in more than six months as markets anticipated an interest rate risee from the US Federal Reserve this week.

Contractors boost employee numbers as economy turns

SPECIAL REPORT: Data from the annual BNiQ Search Engine biggest employers list suggests an economic recovery is under way as mining and civil contractors boost their workforce numbers.

Deloitte calls economic turnaround

Western Australia’s economy is one year away from a return to normality, according to consultancy firm Deloitte Access Economics, with consumer confidence, exports and dwelling approvals data all pointing towards an upswing.

Upcoming Business News EventsView all

Hyatt Regency Perth - 16 February 2018

Winners announced - 07 March 2018

PropertyView all

MRA knocks back $450m Scarborough twin towers

The Metropolitan Redevelopment Authority has rejected a $450 million proposal for two towers near Scarborough beach with the developer behind the project, 3 Oceans Property, saying the decision was a missed opportunity to show courage and vision.

Oversupply to dampen recovery in residential market

BIS Oxford Economics’ latest outlook series report has delivered a stark analysis of expected demand for new houses and land across the Perth market in the near future.

Finbar unveils $47m Rivervale apartment project

ASX-listed property developer Finbar Group plans to proceed with its third apartment development at The Springs Rivervale, which will be brought to market in early 2018.

JCY goes into liquidation

Major Perth architecture practice JCY has been placed into liquidation after being hit by the slowdown in work volumes, pricing pressures and losses on the Perth Children’s Hospital.

Making space fit for business

Speculative fit-outs have emerged as a drawcard for boosting leasing activity in the CBD.

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.
04 Jan 2018 to 10 Jan 2018 | @ 08:45am
11 Jan 2018 to 17 Jan 2018 | @ 08:45am
29 Jan 2018 to 02 Feb 2018 | @ 08:45am
08 Feb 2018 to 09 Feb 2018 | @ 09:00am
11 Feb 2018 to 15 Feb 2018 | @ 04:00pm
13 Feb 2018 | @ 09:00am
17 Feb 2018 | @ 03:00pm

Arts & CommunityView all

Navigating funding maze, theatre group hunts for support

Independent Perth theatre company The Last Great Hunt is seeking to grow its presence in its hometown and strengthen its ties to the business community with the launch of a new donor circle and a crowdfunding campaign.

AGL gives $600,000 to support Surf Life Saving

AGL Energy has announced it will donate $600,000 across three years to Surf Life Saving Western Australia (SLWA) to provide new equipment and funding to 31 clubs across the state.

Watson’s Black Swan debut, playful and provocative

Much sought-after for her directorial talents, Clare Watson is now in the midst of showcasing her debut for Black Swan Theatre Company, Let the Right One In.

Austal commits $300,000 to Anglicare

Anglicare WA has received confirmation that shipbuilder Austal will commit $300,000 to the not for profit’s family and domestic violence support service, Young Hearts, over three years.

Indigenous art meets high fashion in Perth

A fashion collaboration between internationally renowned Jimmy Choo, local designer Alvin Fernandez, and Western Australian indigenous artist Peter Farmer was brought to Perth earlier this week for a temporary exhibition.

EnergyView all

Chinese group launches $463m AWE takeover bid

A Chinese state-owned energy company has stepped up its efforts to gain control of the Waitsia gas field north of Perth, launching a hostile bid today for oil and gas group AWE after withdrawing its proposal for a friendly takeover earlier this week.

Decmil signs MOU for $275m solar contract

Decmil Group is well placed to secure a $275 million engineering contract for Chinese group Maoneng's 250-megawatt Sunraysia solar project in NSW, after signing a memorandum of understanding to complete early designs for the project.

AWE shares dive after Chinese withdraw bid

AWE shares have tumbled after the Chinese state-owned energy corporation interested in buying the Australian oil and gas group withdrew its $430 million proposal, after it was unable to conduct a final due diligence review on the target.

Pacific buys Nova power plant for $7.5m

Perth-based Pacific Energy has acquired the 10-megawatt Nova gas-fired power generation plant in Victoria for $7.5 million.

Zenith preferred in Tanami build

Belmont-based Zenith Energy has been selected as preferred contractor to build a 62-megawatt power station at Newmont’s Tanami gold mine, edging out incumbent provider Pacific Energy.

"Mark My Words" PodcastsView all

08 December 2017

PODCAST: Mark Beyer and Mark Pownall discuss WA’s economic growth, land development softens, Scarborough development knocked back, architecture firm collapse, Mark Povey fined, EPA approves Southbank, gas project bid, company directors cash in and WA’s biggest employers

01 December 2017

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss FMG’s new leadership, the iron ore market, Craig Mostyn’s acquisition, WA's boom/bust economy, Fiona Wood, Rod Jones and the state’s wealth creators.

24 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss shipbuilding, Landcorp/MRA merger, Margaret River Gourmet Escape, AHG, Sirona Capital and WA dynasties.

23 November 2017

PODCAST: Mark Pownall talks to Alyka co-founder Zion Ong about current trends in digital marketing.

17 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss Brownes acquisition and Chinese investment, Richard Goyder, Shell exits Woodside, Stockland’s land purchase spree, domgas deal, waste to energy, and CEO remuneration.

Food & WineView all

Healthy ice-cream? You’re welcome

Business partners Charlotte Haygarth and Jayde Taylor are hoping to ride the anti-sugar wave and change the way people perceive healthy, sweet treats.

New city bar grounded in history

A vintage cash register, sepia-stained photos and assorted drapes of corn and chilli line the walls of the city’s newest venue, Market Grounds, a pub that seeks to reflect its roots as occupant of the site where Perth’s early marketplace was established in the 1850s.

Creso in $17.5m placement and chocolate partnership

Medicinal cannabis company Creso Pharma will raise $17.5 million through a strongly supported share placement, while also announcing a partnership with Swiss chocolate firm Aeschbach Chocolatier to develop marijuana flavoured chocolates.

Passion for seafood beats selling spuds

SPECIAL REPORT: The Catalano family has delivered continuity of ownership of its seafood business across three generations, but has implemented several strategic shifts along the way.

WA cafe owners fined $150,000

Two former Bunbury cafe operators have been fined more than $150,000 after deliberately underpaying a number of their employees over a 15-month period, starting in 2013.

Special ReportsView all

Wealth creators 2017

Wealth creators 2017

04 December 2017

WA company directors make major gains

Healthy dividend in building wealth
Tech next step for Jones post-Navitas
CEO salary survey 2017

CEO salary survey 2017

20 November 2017

Equity incentive deliver a boost

CEO incomes on the rise
Junior mining and exploration 2017

Junior mining and exploration 2017

13 November 2017

Capital inflow turns talk positive
Optimism drives graphite raisings surge
Commercial property 2017

Commercial property 2017

06 November 2017

Developers, investors find opportunities

Developers get out of the office
Perth outer suburbs in the mix
Catching up  to students’ housing needs

MiningView all

Sheffield secures zircon contract

Aspiring minerals sands miner Sheffield Resources has a signed an offtake agreement with a Chinese processor for more than half of the zircon concentrate produced at its planned $348 million Thunderbird project near Derby.

Perth investors reject Finders takeover

Finders Resources has received the backing of some high profile Perth investors in its bid to reject a takeover offer, with Euroz’s Tim Lyons, billionaire Ralph Sarich and Brettney Fogarty among a list of shareholders that have indicated they will not accept the 23-cents-a-share bid.

Tellus waste facility gets EPA approval

The Environmental Protection Authority has recommended conditional approval for Tellus Holdings to develop a clay mine and waste storage facility at its proposed Sandy Ridge project in the Goldfields.

EPA approval for 80mt South Flank project

The environmental watchdog has given the green light for BHP Billiton’s planned 80 million tonnes per annum South Flank iron ore development, with first ore targeted in 2021.

Tropicana gold mine set for new phase

The joint owners of the Tropicana gold mine have approved spending of $48 million to underpin a new mining strategy that will see waste material from new pits tipped back into the original open pit mine, delivering increased production and a longer mine life.

OpinionView all

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss WA’s economic growth, land development softens, Scarborough development knocked back, architecture firm collapse, Mark Povey fined, EPA approves Southbank, gas project bid, company directors cash in and WA’s biggest employers

Survey raises doubts on Airbnb’s future growth

Safety and privacy concerns are top of mind for many of those surveyed by Morgan Stanley on the global accommodation provider.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss FMG’s new leadership, the iron ore market, Craig Mostyn’s acquisition, WA's boom/bust economy, Fiona Wood, Rod Jones and the state’s wealth creators.

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss shipbuilding, Landcorp/MRA merger, Margaret River Gourmet Escape, AHG, Sirona Capital and WA dynasties.

Business Advisers - Zion Ong

PODCAST: Mark Pownall talks to Alyka co-founder Zion Ong about current trends in digital marketing.

RetailView all

$150,000 fines for Pastacup breach

The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.

More time to shop this Christmas

Perth’s shoppers will enjoy the same extended shopping hours as last year to buy presents and hunt for bargains, but employers want longer hours all year round.

Borgioli right at home on King Street

It was in the aftermath of a profoundly emotional moment that Terence Borgioli, then 23, decided to chase his dream of starting a luxury fashion business.

Car sales shed August gains

New car sales in Western Australia dipped back into the red last month after showing rare signs of improvement in August.

Blossoming Profresh a cut above

Floral wholesaler Profresh has grown from a one-person business into a team of almost 15, generating $3 million in revenue in just its second year of commercial operations

Most viewed people

Natasha Di Ciano

Natasha Di Ciano

Managing Director, EGAMI
Founder and Managing Director, NXT Tec

David Thomas

David Thomas

Non-Executive Director, Thor Mining

Shaun Hardcastle

Shaun Hardcastle

Partner, Bellanhouse Lawyers
Non-Executive Director, Hawkstone Mining
Non-Executive Director, Schrole
Non-Executive Director, Clancy Exploration

Michael Anghie

Michael Anghie

Managing Partner, Western Region &
Oceania Markets Asia Pacific Growth Markets Leader, EY
Board Member, Art Gallery of WA
Chairman (from 2015), Celebrate WA

Andrew Rogerson

Andrew Rogerson

Former Director, JCY

Thought LeadershipView all

The biggest danger is to act with yesterday’s logic

I don’t think anyone can be in any doubt that we’re operating in a VUCA environment today, with extreme levels of Volatility, Uncertainty, Complexity and Ambiguity.

Perth’s quiet smart creative revolution

When I moved to Perth from Johannesburg earlier this year I was surprised by the views and perspectives of some people I met on the prospects for the WA economy.

How can scrap metal help people and the environment?

In today’s world, organisations have an incredibly important role in being environmentally responsible. The St Vincent de Paul Society understands this and has a strong focus on sustainability and recycling.

The modern workplace — gen Y style

THE nature of employment is changing as a younger generation moves through the workforce. The new era means a shift of priorities is needed for employers and employees. “About 20 or 30 years ago you used to have a job for life,” Lance Compton said.

Training leads to confident leaders

TRAINING was an integral factor not only in the development of staff, but in the formation of a positive workplace culture, attendees agreed.