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

Corporate Finance DealsView all

Kennards buys Belmont business

National hire equipment supplier Kennards Hire has acquired a Belmont-based company that offers similar services for an undisclosed sun.

Lithium-focused MetalsTech debuts on ASX

Subiaco-based lithium explorer MetalsTech has enjoyed steady gains on its first day of trading on the ASX, after completing a $4.3 million initial public offering.

ACCC concerned about South32 coal assets deal

The competition watchdog has raised concerns over South32's proposed $US200 million acquisition of Peabody Energy Corporation's Metropolitan Colliery in NSW, on the grounds that it may lessen competition in the region.

Elders to buy Bunbury real estate business

Elders has announced plans to expand its real estate presence in the South West through the acquisition of Bunbury-based Southern Districts Estate Agency for an undisclosed sum.

Dacian to raise $110m for Mt Morgans

Dacian Gold has reignited plans to undertake a large equity raising, announcing today a $110 million placement and entitlement offer to fund development of its Mt Morgans gold project near Laverton.

Most CommentedView all

Roe 8 documents handed over

Previously secret documents regarding the planning of the Perth Freight Link were yesterday released by Main Roads after a recent order by the Information Commissioner, according to Labor North Metropolitan region candidate Alannah MacTiernan.

South Perth uncertainty stalls Civic Heart

Buyers at Finbar Group's $400 million Civic Heart project are being refunded their deposits, after the state's largest apartment developer announced it would scale back the size of the tower because of uncertainty regarding planning rules in South Perth.

Accelerator expectations need to be slowed

OPINION: Startup accelerators hope to beat the odds on the pathway to success, but the numbers suggest that even the 'experts' can't pick winners.

Senate orders Roe 8 inquiry

UPDATE: A snap inquiry into alleged breaches of environmental conditions at the Roe Highway extension project will be held next week, after a motion introduced to Parliament by Greens Senator Scott Ludlam was today backed by the Senate.

Coming off second best when national costs are ‘shared’

Rising gas prices on the east coast have highlighted yet another anomaly in the GST structure that costs WA.

Politics & the EconomyView all

Poor post-boom wages growth

Private sector wages growth of just 0.1 per cent in Western Australia in the three months to December, matched with recent unemployment figures, suggests the state's spluttering post-boom recovery has some way to run.

Barnett chances his arm on penalty rates

ANALYSIS: Colin Barnett has taken a political risk in expressing his view that the Fair Work Commission's historic decision to cut Sunday penalty rates for pharmacy, fast food, hospitality and retail workers should also apply to Western Australian award workers.

Penalty cut to benefit small business, jobs: CCI

Business representatives have welcomed a move to ease Sunday and public holiday penalty rates for hospitality and retail workers, saying it would be particularly beneficial for reducing unemployment in Western Australia.

Fahour quits as Aust Post CEO

Australia Post chief executive Ahmed Fahour has made passionate defence of his time in charge of the postal service and says his decision to quit was not sparked by recent criticism of his $5.6 million pay packet.

Leaders slug it out

ANALYSIS: Labor leader Mark McGowan had the edge over Premier Colin Barnett in their 30-minute confrontation on Channel 7 last night.

Upcoming Business News EventsView all

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PropertyView all

New Civic Heart to be 25% smaller

Finbar Group's new plan for its Civic Heart site in South Perth will have 74 fewer apartments and an end value 45 per cent lower than its original proposal, while it will be delivered a year after the first project was scheduled to be complete, the developer has revealed.

Peet flags gloomy WA outlook for rest of 2017

Land developer Peet says it doesn't expect conditions to improve in Western Australia in 2017, as it continues to push its long-running strategy to focus its operations outside of its home state.

KPMG called into Macro as liquidators

The corporate regulator has asked the Federal Court to appoint representatives of KPMG as liquidators of several subsidiaries of Pilbara-based property developer Macro Group.

Fierce competition for Builton works

More than 50 home building companies put themselves forward to take on the work in progress of collapsed builder Builton, with JWH Group emerging as the administrators' top choice.

Property industry says Labor's tax will hurt WA

Property industry lobby groups say WA Labor's plan to introduce a 4 per cent tax on foreign buyers of residential property if it wins the March 11 state election is a retrograde step for the state'

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

RFDS lands Walsh as new chair

The Royal Flying Doctor Service WA has today announced former Rio Tinto chief executive Sam Walsh as the successor of chair Neville Bassett. 

Artist in residence with Alex Desebrock

With the Perth International Arts Festival under way, Business News caught up with Alex Desebrock to discuss life as a local artist and her latest creation.

BHP renews indigenous partnership with $14m pledge

BHP Billiton has extended its partnership with indigenous organisation Kanyirninpa Jukurrpa, following the announcement of a $14.7 million contribution to the Martu Ranger program over the next five years.

Pollies cool on arts commitment

The local arts sector has struggled to capture attention for a move it thinks is key to the sustainability and future development of the industry, with no political parties committing to the Chamber of Arts and Culture's proposed pledge of $100 million of increased funding over the next four years.  

A study in democratised giving

A group of young women living in high poverty areas of rural Cambodia will have access to tertiary level education after a recent live crowdfunding event in Perth raised more than $10,000.

EnergyView all

One Nation not keen on fracking

Pauline Hanson's One Nation is hoping to put an end to decades of fracking in Western Australia, if the party wins seats in the upcoming state election.

Labor picks Carnegie for Albany energy deal

WA Labor has promised the state's sixth-largest town, Albany, would become fully powered by renewable energy - if elected - under a $19.5 million funding commitment with Carnegie Clean Energy.

Woodside profit jumps but oil prices weigh

Woodside Petroleum says it is considering new facilities at Pluto LNG to distribute the fuel in the Pilbara for mining and marine usage, as the company bounced back from large write-downs to post a sharp rebound in profitability for the first half of the 2017 financial year.

Goyder to chair Woodside

Outgoing Wesfarmers boss Richard Goyder has been revealed as successor to Michael Chaney as chairman of energy giant Woodside Petroleum, a week after we was named the next chairman of the AFL.

Ship launches LNG as a Pilbara logistics option

Woodside Petroleum has officially launched its latest marine craft, taking the opportunity to showcase the newly built platform supply vessel Siem Thiima in Fremantle due to its capacity to use LNG as a fuel.

"Mark My Words" PodcastsView all

24 February 2017

In this Business News podcast, Mark Pownall and Dan Wilkie discuss election promises, South Perth, mining raisings, Richard Goyder and mining services.

17 February 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss Civic Heart, Richard Goyder, top IGA, local property market and WA private companies.

10 February 2017

In this Business News podcast, Mark Beyer and Mark Pownall discuss the Builton collapse, election promises, Richard Court and Rob Bransby, and WA’s professions.

03 February 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss startups and software, Aldi, election campaign and transport infrastructure.

27 January 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss the Builton collapse, CBD vacancy rates, Balla Balla iron ore and land developers.

Food & WineView all

Yowie chocolates return to Australia

Yowie chocolates - Australia's answer to Kinder Surprise - are returning to local shops for the first time after their relaunch in the United States three years ago.

Many cooks make for great events

PHOTO ESSAY: Whoever coined the phrase 'too many cooks spoil the broth' clearly didn't work in a commercial kitchen catering for large events. 

Brewery to catch stadium foot traffic

Fans won't have to walk far for refreshments before and after events at the new Perth Stadium, with a 2,500-person capacity tavern and microbrewery to be built adjacent to the Swan River pedestrian bridge on the Burswood Peninsula.

The Grand Cru experience, a top cellar

Mount Lawley liquor retailer Grand Cru Wine Shop has undergone an evolution since being established more than 42 years ago.

Hummus Club dips lid to crowd

The owners of a new Northbridge eatery have placed a big emphasis on connecting with the community, and used crowdfunding to provide one element of that relationship.

Special ReportsView all

Professional services 2017

Professional services 2017

13 February 2017

Legal sector shake-out continues

Law firms grapple with market shift
Ports & Transport 2016

Ports & Transport 2016

06 February 2017

The Roe 8 debate is a flashpoint ahead of the state election

Election to determine road, port future
Locals call for regional road spend
New era

New era

25 January 2017

Fresh facilities bring opportunities for conferences and conventions

Crown duels with Starwood, Intercontinental for events
Focus on delegates as events evolve

MiningView all

Atlas shares down despite return to profit

Shares in Atlas Iron fell 9.3 per cent today despite the company returning to after-tax profit in the six months to December on the back of higher volumes and a lift in the iron ore price.

Lower prices and write-offs hit Alumina

Alcoa's Australian partner, Alumina, has slumped to a full-year loss due to restructuring-related write-offs and lower prices and volumes.

Iluka slides to $224m loss

Mineral sands miner Iluka Resources has slid to a full-year loss of $224 million on the back of hefty write-downs related to a restructuring of the company's business amid the downturn.

Nickel price aids Western Areas

Nickel miner Western Areas has returned to positive territory with a net profit of $516,000 in the six months to December.

Doray flags $45m impairment

Gold miner Doray Minerals says it expects to report a $40 million-$45 million impairment charge against its Andy Well and Deflector gold mines, with the former operation also expected to deliver an operational loss for the financial year.

OpinionView all

Mark my words podcast

In this Business News podcast, Mark Pownall and Dan Wilkie discuss election promises, South Perth, mining raisings, Richard Goyder and mining services.

There’s only one poll that counts

OPINION: The polls appear to be tightening ahead of next month's election, with renewed interest also in which minor parties may hold the balance of power.

This week's property round-up

OPINION: Sales activity contracted over the week with Reiwa members reporting a decrease in weekly sales to 676. 

Accelerator expectations need to be slowed

OPINION: Startup accelerators hope to beat the odds on the pathway to success, but the numbers suggest that even the 'experts' can't pick winners.

Foreign players cement their footprint

OPINION: Everyone exposed to the Australian retail industry knows how tough conditions are, but what they might not fully understand is the extent to which a once-local industry is being blasted out of business by international competition.

RetailView all

Profit down for auto dealer AHG

West Perth-based Automotive Holdings Group has predicted the state's automotive market will remain challenging in the short term, as the company reported a 20 per cent fall in net profit after tax in the six months to December.

Woolies wins back shoppers

Woolworths' crucial comparable food sales for the first half have outshone those at fierce rival Coles in a sign that heavy discounting is luring shoppers back.

Wesfarmers considers Officeworks IPO

Wesfarmers is considering a spin-out of its profitable Officeworks business, which contributed to strong earnings growth for the Perth-based conglomerate in the first half alongside Bunnings and Kmart.

Wesfarmers' diversity keeps it prosperous: Scott

Incoming Wesfarmers managing director Rob Scott, who will formally take his new job late this year, says the business will continue to thrive on the back of its diversity across markets.

Goyder to step down as Wesfarmers boss

Wesfarmers managing director Richard Goyder will step down this year after more than 12 years in charge of the company to be replaced by his deputy, Rob Scott.

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Thought LeadershipView all

Uber Engineers? A reset of the sector but maintaining the balance.

Welcome into the year of 2017 where we are back at the early stages of a new commodities cycle, or so we are led to believe.

The Australian oil and gas paradox: Will the world’s largest LNG exporter become an importer?

A meeting of state and federal energy ministers in August 2016 highlighted the critical role that gas will play in Australia's rapidly evolving energy sector.

When do you make the call…enough is enough?

Managing ill and injured employees can be extremely testing, particularly when you suspect the absenteeism may not be genuine...or when it is genuine, but their absences are beginning to negatively impact on your operations!

A brave new dawn for the Australian oil and gas industry

After more than AU$200bn in capital investment over the last decade, Australia is emerging as an undisputed global oil and gas epicentre with Perth at its very heart.

Industry leaders say Collaboration critical for local oil and gas industry

With the petroleum industry struggling through one of the toughest periods in recent memory, there has been a growing call for government, academia and oil and gas operating and service and supply