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

Corporate Finance DealsView all

Gold explorer scraps listing plans

The tally of new ASX listings from Western Australia remains at just two this year, with Gold Tiger Resources (Australia) canning its IPO after being hit by weak equity markets and gold sector woes and having to issue a supplementary prospectus.

Bard1 raises $7.5m, makes board changes

Cancer-focused medical technology company BARD1 Life Sciences has raised around $7.5 million via a share placement and rights issue, and has appointed two non-executive directors to its board.

Fleetcare secures $150m in funding

Wangara-based Fleetcare has struck a $150 million deal with an undisclosed major Australian bank, which it says will pave the way for additional growth.

Macmahon buys GBF for $48m-plus

Mining services firm Macmahon Holdings has acquired underground mining contractor GBF, which currently has around $266 million worth of work in its order book.

DJ Carmichael acquired by Shaw and Partners

Shaw and Partners has acquired Perth-based financial advisory and planning firm DJ Carmichael, which has approximately $650 million funds under its advice.

Politics & the EconomyView all

Fed govt rules out tax change by June 30

The federal government has ruled out bringing the next sitting of parliament forward a week to legislate its promised tax cuts by the end of this financial year.

Tough calls make a mountain of difference

The wages of Australian workers could almost double in real terms by 2060, with manufacturing showing the biggest potential, aided by technology adoption and better management practices, according to a new report.

WA Labor backs Setka expulsion

WA Labor’s state executive has backed a motion calling for the expulsion of construction union boss John Setka, albeit by a small margin, and with Premier Mark McGowan using the issue to step up his attack on Maritime Union of Australia boss Christy Cain.

Harvey’s policies rebuffed by business

Business peak groups have slammed newly minted opposition leader Liza Harvey’s policy shifts on public sector wages, privatising Western Power, and retail trading hours.

Cracks emerge in state pay policy

The public sector union is claiming it has broken the state’s wages policy on the back of a new enterprise agreement offer that includes a range of new entitlements such as an extra holiday, superannuation during unpaid parental leave, and cultural leave for Aboriginal employees.

PropertyView all

Forrest buying into Fremantle

Andrew Forrest has invested $15 million on Fremantle property assets in the past 15 months, as the biggest regenerative project in local history nears completion

Subiaco endorses new planning rules

Future high-density development in Subiaco will be clustered along main roads in close proximity to the suburb’s town centre and train station, with new planning guidelines endorsed by council this week.

Podcast: Office Hours with Damian Stone

Host Damian Stone sits down with John Nicolaou and Brodie McCulloch to discuss jobs and the changing nature of work in the latest episode of Office Hours, the property podcast of Business News.

Architects shortlisted to redevelop Cottesloe's Indiana

Andrew Forrest’s Minderoo Group has named a shortlist of four architecture firms to guide the redevelopment of Cottesloe’s famous Indiana Tea House.

ASIC cancels Macro broker’s licence

The Australian Securities and Investments Commission has cancelled the credit licence of mortgage broker Rochelle Anne Weinert, who was involved with the ill-fated Macro Group.

WA Event Calendar View all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, register with Scoop Online..

Arts & CommunityView all

Stark choices on arts funds, young ones’ skills

Arts funding was on the menu at a business breakfast co-sponsored by Business News and Screenwest this week, with panelist Ben Elton advocating development of a film studio in Perth to boost the sector.

Perth embraces festival season

Fringe World and Perth Festival may offer audiences a different range of artistic experiences, but both achieved strong growth in ticket and box office sales this year, according to recent reports.

Rio, FMG support indigenous children initiatives

Rio Tinto has backed a STEM initative in the Pilbara, while Fortescue Metals Group has thrown its support behind Ricky Grace's Girls Academy.

Box office booms at Fringe World

Box office sales at this year's Fringe World Festival were up by 15 per cent on 2018 figures, while 13 per cent more people attended ticketed events, according to a report released last night.

Hands up for volunteers

Corporate volunteering has the potential to benefit all parties involved, but making sure it is worthwhile takes careful planning.

EnergyView all

$123m for minesite microgrids

Two microgrid projects worth a combined $123 million have moved forward today as the technology becomes increasingly mainstream, with Gold Fields and GMA Garnet mine sites to have big renewable power and storage components.

Tempo optimistic of solar cost blowout solution

Tempo Australia has emerged from a one-and-a-half month trading halt to announce it has agreed terms in-principle with Enel Energy that will potentially prevent a cost blowout at a major solar contract.

Chalkley, Barrie to Power board

Western Power chief executive Guy Chalkley has been appointed to the network operator’s board, while Kathryn Barrie will wear two hats as a director of the business and continuing in a senior role at the Public Utilities Office.

EPA to start consulting on greenhouse policy

The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.

Strike joins Northern Minerals as R&D tax losers

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

Food & WineView all

Liquor licence conflict over arena definition

The Supreme Court of Western Australia has given a Nedlands sports club the green light to appeal its failed attempt at regaining a liquor licence, after its facilities where deemed not to constitute a sports arena.

Small-scale brewing’s next frontier

One of WA’s most experienced hospitality professionals is helping lower the barriers to enter the craft beer industry.

Cranking up the beer creativity

WA’s contemporary brewers are building on the foundations laid by modern institutions such as Little Creatures and Feral Brewing Company.

Fogarty lifts wine dominance

Western Australia’s largest wine producer has increased its dominance of the sector in a year when many producers were affected by extreme weather events.

Drinks giants to run recycling scheme

The state government has selected a newly formed company owned by drink manufacturers Coca-Cola Amatil and Lion to run the state’s container deposit scheme.

Special ReportsView all

Defence

Defence

17 June 2019

WA businesses are positioning themselves to participate in the national shipbuilding supply chain and longer term, have a strong chance to create a sustainment hub in Perth.

Our feature highlights:

WA defence sector aims to build on contract wins
Blacktree broadcasts from Belmont to Britain and places in between
Matrix the one for neo-materials
Local defence ecosystem  grows business
Great for the State - Edition 3: Health & Wellbeing

Great for the State - Edition 3: Health & Wellbeing

04 June 2019

Our Health and Wellness edition highlights how Western Australia is evolving into a world-leading jurisdiction in medical research, pushing the boundaries of science and innovation in a quest for better health.
 

Medical marvels delivering outcomes
Investments in medical tech to pay healthy dividends
Healthway, Lotterywest lead drive for better health
West best for mass fundraising fun
Mining projects 2019

Mining projects 2019

20 May 2019

High-level iron ore, lithium and gold projects set pace for more than 50 developments in fresh commodities boom. WA finds itself in the centre of a new, agribusiness-driven, mining race.

$21bn pours into WA’s top 10 mining projects
Iron ore juniors back in game
Potash players primed for slice of growing market
Universities 2019

Universities 2019

13 May 2019

Widespread government reviews are causing a headache for Western Australia’s major universities, but higher promotional funding and a lift in the state’s share of new international students are encouraging signs.

Unis battle funding cuts, government uncertainty
WA poised for more international students

MiningView all

Non-toxic gold mining practice going live

CSIRO has licensed a nontoxic gold mining technique to a Perth company it says could double production for smaller gold producers.

Trade war may spark rare earth opportunity

An exotic mineral once mined Iluka Resources could bring about a resurgence in demand, as US-China tensions persist.

Shareholders welcome Flinders changes

Shares in Flinders Mines were up 32.7 per cent today after the company announced board changes and an independent review into infrastructure options for its flagship project.

Pilgangoora sales limited on construction delays

Shares in Pilbara Minerals have fallen up to 10 per cent today after June quarter sales from its Pilgangoora project are expected to be lower than originally anticipated, due to construction delays by its offtake partners.

Evol seals gas supply deal

Wesfarmers subsidiary Evol LNG has secured a six-year deal to supply gas for a 14.5-megawatt power station to be operated by Zenith Energy at the Kirkalocka gold mine.

OpinionView all

Straight shooters fire entrepreneurial bent

OPINION: Encouraging entrepreneurial behaviour can only benefit a state such as WA.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Liberal leadership change, State of the Arts, agricultural outlook, Patersons sellout, Curtin's expansion, gold challenges, Western Australians honoured, and our special report on defence.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss house prices, economic growth data, interest rates, WA’s credit rating, gold miners, arts festivals, cryptocurrencies and craft breweries.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss indigenous business and reconciliation week, David Singleton, Simonds Group and residential construction, generational change at listed Perth companies, Black Swan, and our special report on the wine industry plus our Great for the State feature on health and well being.

Property stress test pressure point

OPINION: The economic pressure simmering away below the surface in many households was a key factor in the surprise federal election outcome.

RetailView all

Coles hits new high on $1bn savings target

Coles shares have hit a new high after the supermarket announced a $1 billion cumulative savings target over four years to compete with new discount grocery market arrivals such as Lidl and Kaufland.

Target sales sag further for Wesfarmers

Wesfarmers says full-year earnings from its department stores could fall by as much as $103 million after sales at the struggling Target chain fell by 2.3 per cent so far in the second half.

Transit Clothing to close its doors

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.

Lotterywest lifts retailer commissions

The 500 retail businesses that earned $63 million selling Lotterywest products last year can look forward to higher incomes after the state government agreed to increase their gross commission.

Wesfarmers taps Warburton

Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

SkylineView all

Skyline

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.

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.

Regus takes space at new Raine Square office

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Access key at Linc industrial estate

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

The Village Margaret River on the market

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

Bulls N' BearsView all

Bulls N' Bears

MGC enters Brazilian medical cannabis market

ASX-listed medical cannabis player, MGC Pharmaceuticals has extended its reach to Brazil after signing a three-year exclusive distribution agreement with ONIX Empreendimentos e Participações. Brazil is a key emerging market with specialist market insight provider, Prohibition Partners, estimating that the Brazilian and Latin American medical cannabis sector could be worth up to USD$8.5 billion by 2028.

Vonex takes flight with Qantas rewards partnership

Telco disruptor Vonex has opened up a new avenue to grow its brand awareness and revenue through a partnership with business to business loyalty program, Qantas Business Rewards. This partnership will provide exposure for the company’s offering to QBR’s 250,000 small and medium enterprise members, who will be able to earn Qantas Points on Vonex products and services from August this year.

Venus strikes wide gold zones in Murchison

Venus Metals has struck wide, continuous intercepts of gold mineralisation at its Bell Chambers project near Sandstone, WA, which confirmed historical assay results and the geological interpretation for the current 17,000-ounce resource. Better results included 27m @ 2.72g/t from 27m down-hole and 64m @ 1.7g/t gold from 10m down-hole in separate drill holes.

Altech on pathway to production in Malaysia

Altech Chemicals is well on the pathway towards producing high purity alumina in Malaysia with erection of the workshop steel frame and placement of its roof structure now nearing completion. In addition, construction of the retaining wall is now about 75% completed whilst work has started on the first of four on-site detention storm water tanks that will store all site storm water.

Classic targets high grade gold near Southern Cross

Classic Minerals has recommenced drilling at its emerging Kat Gap gold project near Southern Cross, WA, where a series of exploratory programs last year unearthed shallow, high-grade gold mineralisation at a prospective rock contact. The short campaign will target strike and up-dip extensions of the defined mineralisation, which produced results up to 10m @ 30.78g/t gold from 28m down-hole and 8m @ 19.05g/t gold from 32m down-hole.

Thought LeadershipView all

When sweaty palms and heart palpitations are not a good thing

There has been a shift over the years in the way the performance appraisal is conducted, particularly in the frequency of discussions, leading to a more meaningful experience for both manager and empl

Increased connectivity and digital identities at the forefront of Cisco innovation

Cisco continues to forge ahead with innovation surrounding technology and the internet by sharing its extensive knowledge on connectivity, digital identity and cyber security.

Help! My employee wants a raise.

Typically associated with sweaty palms and a general feeling of discomfort, it’s likely that at some point you’ve dealt with the pay increase question, either as the employee...or the manager.

Shire launches video to support advocacy efforts

The Shire of Serpentine Jarrahdale launched its advocacy video at an event with key stakeholders at Quarry Farm on Tuesday, 16 April.

New opportunity on offer at emerging Murdoch health and knowledge hub

A world-class centre of excellence for health, education and research is beginning to take shape in Perth’s growing southern corridor – and a new release at LandCorp’s Murdoch Health and Knowledge Pre