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

Corporate Finance DealsView all

Automic acquires share registry

Perth-founded Automic Group has become Australia’s third-largest share registry after acquiring its competitor, Security Transfer Australia (STA).

Bruce Rock Engineering buys Geraldton business

Bruce Rock Engineering has increased the number of its facilities in Western Australia with the acquisition of Geraldton-based D-Trans Motor Body Builders.

Dockers play in childcare space

National childcare provider Insight Early Learning has formed a partnership with Fremantle Football Club, placing physical health and wellbeing at the forefront of a new childcare operation known as Freo Kids.

GR Engineering buys US business

GR Engineering Services has entered an agreement to acquire Arizona-based Hanlon Engineering & Associates, which has 40 staff.

Kalamazoo shares soar on $8m deal

Junior gold miner Kalamazoo Resources has announced an $8 million placement to billionaire investor Eric Sprott and his Canada-listed company, Novo Resources Corporation.

Politics & the EconomyView all

Relief packages for tourism, small businesses

The Morrison government has announced a suite of measures to immediately support small businesses, non-profit organisations and tourism businesses affected by Australia's bushfires.

Morrison’s Kyoto conundrum

Moves to scrap the use of carryover carbon emissions credits from the Kyoto Protocol could significantly increase the cost of Australia meeting its Paris Agreement target.

Bushfires could deliver 0.5% hit to GDP

The bushfire crisis will cost Australia $5 billion in direct losses and lop off 0.2 to 0.5 per cent from its economic growth, Westpac has estimated.

State to take over prison operation

Contractor Sodexo will exit a loss-making contract running Melaleuca female prison in April, about four years after the facility opened, following a December agreement for the government to take over operations.

End in sight for Bell battle

About $1.9 billion will be split between the Insurance Commission of Western Australia and other creditors of Bell Group when a settlement deal, signed in December, comes into effect later this year.

PropertyView all

Primewest adds Mandurah shopping centre to portfolio

ASX-listed funds manager Primewest has acquired a Woolworths-anchored shopping centre in Mandurah for $32 million, following its $33.1 million acquisition of 66 Kings Park Road.

Park Regis exits Subiaco hotel before opening

International hotel chain Park Regis has pulled out of operating a just-built Subiaco hotel prior to its opening, with the developer behind the project seeking a new operator.

New house sales grow in WA as recovery approaches

Western Australia recorded the largest new home sales growth over the quarter of any Australian state, as the broader housing market begins to show signs of a recovery.

Builder wins copyright battle

A court has dismissed a claim of copyright infringement brought by Novus Homes against a homebuyer and a rival builder, ending two-and-a-half years of court proceedings and mediation.

Shift in residential confidence

Western Australian property professionals are becoming more optimistic around the prospects of a recovery in the state’s embattled residential market, despite a national survey showing WA respondents had the lowest expectations across the country for an improvement in capital growth over the next 12 months.

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..

Aboriginal Culture in WA View all

With a history stretching back at least 50,000 years, there are many ways to explore WA’s rich and diverse indigenous heritage..

Arts & CommunityView all

Climate protesters disrupt Fringe launch

The official launch of Fringe World Festival on Thursday night was interrupted by local artists protesting the festival’s partnership with Woodside Petroleum.

Legend Media receives Chinese approval for first film

Local film production company Legend Media Group has gained Chinese approval for its first Australian-Chinese co-production feature film Outback Dragon, slated to start filming in Kalgoorlie-Boulder and Perth later this year.

Black Swan appoints executive director

Rick Heath has been named executive director at Black Swan State Theatre Company, following controversy over sudden leadership changes at the organisation last year.

Barking Gecko thrives into its 30s

A strong focus on developing and sustaining corporate partnerships is one factor behind Western Australia’s oldest theatre company, Barking Gecko Theatre, notching up its 30th birthday.

Indigenous focus for new museum

WA’s newest cultural drawcard is set to showcase the state’s unique heritage on a world stage.

EnergyView all

Waste projects shift the dial

Western Australia is leading the country in the adoption of waste-to-energy projects, with $1.2 billion being invested in two path-breaking facilities under construction.

Seven hydrogen projects secure study funds

Kununurra and Mandurah could be hubs for renewable hydrogen production, while the gas could be blended with natural gas already supplied through the state’s main transmission pipeline, as part of a series of projects revealed today.

Australia becomes world’s largest LNG exporter

Australia has edged out Qatar to become the world’s largest exporter of liquefied natural gas (LNG) on an annualised basis, according to national consultancy Energy Quest.

$511m waste project to proceed

Construction of Western Australia’s second large scale waste-to-energy project will begin this month near Rockingham after the development consortium reached financial close just before Christmas.

Developments needed for domgas demand

Chevron and Newcrest have signed a supply deal for 16 petajoules of domestic gas until 2023, while a new analysis of the state’s gas market says the Scarborough and Browse developments are necessary to ensure sufficient supply.

Food & WineView all

Diverse offering fits the bill in Freo

Almost 10 months after it opened, Freo.Social has expanded its range to include a dining option with the addition of Beer.Kitchen, the venue’s new 22-item dining offering launched in mid-December.

Plans for Bravo to go international

The Manjimup-bred burgundy apple Bravo is closer to being sold internationally, after businesses in Europe and South Africa signed an MOU to progress plans for its commercialisation.

Kailis senses market movement

There’s a seismic shift happening in hospitality and Perth has an opportunity to become a culinary destination, according to George Kailis.

Chocolate artisan builds the brand

Coolbellup-based Nakamura Chocolates is aiming to triple Western Australian sales after a successful entry into the Japanese market.

Prominent Perth restaurateur accused of extortion

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Special ReportsView all

Corporate finance 2019

Corporate finance 2019

20 January 2020

The annual Business News review of corporate finance deals has identified some major shifts among key advisers and market trends.

Advisers compete on 733 deals
Aged care 2020

Aged care 2020

13 January 2020

Large aged care players are cementing their growth strategies to meet demand and survive a turbelent time for the sector. Technology could help people live independently at home longer and improve care in residential aged care facilities.

Growth amid uncertainty
Digital delivers for quality care
Great for the State – Edition 10: Cultural growth

Great for the State – Edition 10: Cultural growth

17 December 2019

Perth has come a long way since the Lonely Planet described the city as dullsville, with a thriving festivals, street art, music and events scene now creating vibrant connections with Western Australia’s history and indigenous culture.

Thriving hub of festivals, bars and street art
From The Triffids to Tame Impala, WA goes global
Architecture, planning connect with culture
Museum heralds new era for arts advancement
Biggest employers 2019

Biggest employers 2019

16 December 2019

Business News' updated ranking of WA's largest employers highlights the increased use of casual and contract.

Woolies tops biggest employers
Person of the year 2019

Person of the year 2019

13 December 2019

WA’s Liberals, notably Christian Porter, have been key to the Morrison government’s performance this year. Business leaders have been developing plans that could have a big impact on the state in 2020.

Western defence delivers for feds
Unfinished business in 2019 to energise leaders

MiningView all

Atlas gains approval for Corunna Downs

Atlas Iron is planning to start development of its Corunna Downs iron ore project in the Pilbara by mid-year, at a cost of around $50 million, after the Environmental Protection Authority recommended approval.

Emerald seeks $75m for Okvau

Emerald Resources has announced plans to raise $75 million to fund its Cambodia-based Okvau gold project, via two placements of 1.9 billion new shares.

$10bn tax bill for resources

Nine WA-linked resources businesses are ranked among the country’s top 20 corporate taxpayers, despite a widespread perception the industry does not pay its way.

Late by 89 seconds, Fortescue catches a break

Fortescue Metals Group won a Supreme Court decision today over an exploration licence application that had been declined because it was processed seconds after the regulator’s deadline.

Independence Group production beats guidance

Independence Group’s Nova and Tropicana mines in Western Australia have achieved strong preliminary results, with first-half metal production exceeding guidance by around 9 per cent and 10 per cent respectively.

OpinionView all

Mark my words podcast

In this podcast Mark Beyer and Mark Pownall discuss stockmarket highs, tourism buoyed, Scott Park Group, Jeanswest into administration, FMG's exploration tenement battle, and our special report on corporate finance.

Mimic success, not failure

OPINION: From its own experience, Business News can declare the state government’s Market Led Proposals policy is a let-down.

Financial trade-off for Labor

OPINION: Mark McGowan and his Labor government are sitting pretty entering the final quarter of their first four-year term, with no obvious domestic issues likely to destabilise their approach to the next election in March 2021.

Young microentrepreneurs deserve our support

OPINION: Schools have a significant role to play in preparing students for the new world of work.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss market jitters, corporate Australia's response to the bushfires, waste-to-energy projects, LNG production, Pluto expansion, a new Perth hotel development, and our special report on the aged care industry.

RetailView all

Black Friday fuels November retail surge

November's Black Friday sales fueled a better-than-expected monthly retail turnover, but economists are wary of how much of the 0.9 per cent increase would previously have been spent during December.

Freo getting its mojo back

There’s a sense of optimism in Fremantle amid a flurry of new venue openings, supported by a potential investment pipeline of nearly $1 billion.

Administration, restructure planned for Fashion Festival

The entity which ran the Perth Fashion Festival for 20 years, before operations were passed to the Fashion Council WA, has entered administration owing $819,000, with owners Mariella Harvey-Hanrahan and Tony Sage planning a deed of company arrangement.

Profit rockets at Spudshed

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

Betts pulls on boots for recovery

Shoe retailer Betts Group has returned to profitability after cutting nearly 130 stores in the past two years, and chief executive Danny Breckler is confident the business is now on the right path.

SkylineView all

Skyline

It’s office-ial, East Perth included in Property Council’s Office Market Report

For the first time ever, the Property Council’s February Office Market Report will capture East Perth specific information about office vacancies and performance.

Retirement village review risks alienating residents and operators

Property Council of Australia says the State Government's retirement village review lacks transparency and is being made overly complex.

Future leader calls for attitude change

Unapologetic property industry advocate, Urbis associate director Sean Morrison, has used his platform as Stan Perron Future Leader 2019 to call for West Australians to change their attitude to planning.

Property Council WA praises revised City of Perth population targets

The City of Perth’s decision to more than double its residential population targets to 90,000 will help central Perth reach its potential.

Drone delivery poses new challenges for WA industrial players

A panel of experts has told a Property Council WA event that drone delivery is closer to becoming a reality - and will require a re-think from planners.

Bulls N' BearsView all

Bulls N' Bears

Ounce to the tonne dirt for Rox/Venus at Youanmi

The Grace prospect is holding up as potentially a stand-alone discovery for JV partners, Rox Resources and Venus Metals, with assay results hot off the press of 8m going 37.25g/t, including a 4m zone grading 73.81g/t gold from 48m. Rox and Venus recently identified Grace at their Youanmi South project in the Goldfields, a prospect that literally sits right between the historically mined Youanmi pit and the mothballed mill.

Good morning Vietnam – Blackstone hits 60m nickel zone

Blackstone Minerals has revealed the most impressive drill result to date at its Ta Khoa nickel project in Vietnam with 60m grading 1.3% nickel and another 11.9m at 1.09% nickel contained within another 142m intersection further down in the same drill hole at the King Cobra prospect. The 60m intersection also showed 0.22% copper and 0.29g/t PGM plus gold.

649m copper hit for Hot Chili in Chile

After lighting a fire under its Chilean Cortadera copper-gold project in late 2019, the first intersection in the latest step-out drilling program for Hot Chili has continued the company’s extraordinary run of ultra-deep drilling success. Latest numbers include a 649m mineralised zone going 0.4% copper and 0.1g/t gold. The latest hole in the current eight-hole program also intersected 440 meters grading 0.5% copper and 0.2 g/t gold.

Norwest bolsters cash position in readiness for Lockyer Deep

Norwest Energy has topped up its cash box in readiness for the drilling of its Lockyer Deep prospect in the Northern Perth Basin. The final payment of A$630,000 was received this week for the sale of its interest in production licence L14 in the North Perth Basin. Norwest is getting set to drill Locker Deep in partnership with uber-successful resources house, Mineral Resources who is not known for backing duds.

Ibaera approaching critical percentage in Azumah takeover

Private equity firm, Ibaera now holds a relevant interest in Azumah Resources of 88.85% following last year’s off-market takeover bid. Azhuma’s sole independent director has encouraged remaining holders to accept the offer before the official closing date of the 17th January. If Ibaera acquires 90% or more of Azumah’s shares, it will likely move to compulsorily attain any remaining shares and/or delist the company from the ASX.

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Thought LeadershipView all

Lessons learned from our farmers

Recently, I had the privilege of escorting a second group of CEOs, from The CEO Institute, to visit the business of one of the members.  He happens to be a farmer and produces crops of various types,

The future of mining rehabilitation is here

It’s a well-known fact that mining has been a significant primary industry and a major contributor to the Australian economy since the 1800s, with more than 150,000sqkm of Australia’s land surface dir

The new Australian property dream

Australia’s love affair with a home among the gumtrees and a verandah out the front on a quarter acre block is forcing many into hour-long commutes at the expense of quality time with their families. 

Welcome to the future of green city living

A new development in Subiaco is looking to shake-up the urban landscape with a series of sustainability initiatives. 

World leading edtech company Crimson Education forms groundbreaking partnership with inspired schools

Inspired’s Teachers and Students to Gain Access to Crimson’s Global World Leading College Counselling Services and Technology Platform