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

Corporate Finance DealsView all

Wolf extends RCF loan by $17m

Perth-based Wolf Minerals has received a $16.8 million extension to its existing debt facility with Resource Capital Funds, as problems at its Drakelands tungsten mine in England continue.

Veris buys east coast surveying business

Diversified company Veris has further expanded its national surveying division through the acquisition of Canberra-based LANDdata Surveys for up to $4.8 million in cash.

Siemens buys Perth business

Global business Siemens is expanding its footprint in the rail infrastructure sector with the acquisition of Perth-headquartered MRX Technologies for an undisclosed sum.

Silver Lake sells Murchison assets to Westgold

Silver Lake Resources has announced the sale of its remaining interests in the Murchison region to Metals X spin-out Westgold Resources in a cash-and-shares deal worth $10 million.

Brierty signs facility deal with Bankwest

Brierty has signed a new facility and debt restructure agreement with Bankwest that is conditional on the company's rectification plan at Rio Tinto's Western Turner Syncline project being approved by the iron ore miner.

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EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

New Business News CEO

Mark Pownall will become CEO at Business News from the start of the new financial year, replacing Charlie Gunningham, who has been at the helm for four years.

WA holds all the cards on energy

OPINION: Western Australia has always been different to the rest of the nation, and not often to its advantage, as the ongoing dispute over the GST demonstrates.

Households, miners to pay an extra $334m

The state government has lifted an array of fees and charges as it seeks to address its budget woes, with iron ore exporters in the Pilbara and electricity consumers facing the largest increases.

New target for remuneration

The salary package for Wesfarmers' new managing director acknowledges the reality that many large companies pay big annual bonuses every year.

Politics & the EconomyView all

City of Perth aligns rates rises with CPI for FY18

The City of Perth will increase its rates by 1.5 per cent and has allocated $60.4 million for capital works projects, according to its FY18 budget.

Govt IT security falls short of Murphy's benchmark

The auditor general has reiterated his disappointment with state government agencies consistently not taking appropriate steps to protect and manage their IT systems despite the recent global malware attacks.

I'll do what's right on GST: Morrison

Treasurer Scott Morrison has rejected warnings the Liberals would face an electoral wipeout in Western Australia if the federal government doesn't give the state more GST money.

Tourism WA board shake-up

The McGowan government's shake-up of public sector agencies has triggered unexpected departures from key agencies, with road safety commissioner Kim Papalia resigning and three Tourism WA board members following chairman Peter Prendiville out the door.

WA wages, regional growth, mortgages a census focus

Western Australia is home to the nation's fastest-growing region for the second consecutive census, but this time it's not in the north.

Upcoming Business News EventsView all

PropertyView all

Cedar Woods sells Target HQ for $58m

Cedar Woods Properties has found a buyer for a commercial development in Melbourne suburb Williams Landing, which is currently under construction and will become the Australian headquarters for Wesfarmers-owned department store chain Target.

Funds fight stalls theatre plan

Perth's historic Piccadilly Theatre will be left untouched while the arcade in which it is located undergoes redevelopment, with the mall's owners putting a proposal to revive the theatre on hold after the City of Perth refused to financially back the plan.

Big builders facing insurance hike

Western Australia's biggest builders are facing higher insurance costs, in some cases understood to be as high as 25 per cent more, as the Building Commission moves to reduce the reliance on taxpayers to foot the bill for failures in the sector.

Wodonga Plaza a match for M/Group

Property development and investment firm MGroup has added a second shopping centre to its portfolio, entering an agreement to buy Wodonga Plaza in Victoria from Vicinity Centres for $43.5 million.

Busselton pub sold to Charter Hall fund

One of institutional property group Charter Hall's investment funds has bought The Ship Inn in Busselton, part of a $23.2 million sale and leaseback deal with Australia's biggest pub owner, ALH Group.

Arts & CommunityView all

Passing Paws digs into niche market

Passing Paws Pet Cremations has tapped into a niche (but growing) market for personalised pet bereavement services, as part of the move towards greater humanisation of domestic animals.

Willetton SHS takes top architecture award

Willetton Senior High School has claimed the top prize at this year's WA Architecture Awards, while Elizabeth Quay, an arts centre in the Pilbara and the Gen Y Demonstration Housing project were among those to receive high accolades.

Chequered past motivation for new career

Perth entrepreneur Paris Mitchell has packaged his past experiences with addiction and substance abuse into a series of educational presentations and workshops for schools, not-for-profit agencies and corporates.

BDO dons purple bras for good cause

More than a dozen partners from BDO will wear purple bras over their corporate attire this Wednesday in support of Breast Cancer Care WA's annual Purple Bra Day, in the hope of raising at least $10,000 for the charity's services. 

Artist in residence with Jarrad Seng

Whether he's taking photos of baby leopards in Namibia or of acclaimed musicians performing to packed stadiums all over the world, award-winning photographer, filmmaker, and creative director Jarrad Seng has turned what was a hobby into a fulfilling career.

EnergyView all

Hunt appointed as AGL chairman

AGL Energy has appointed non-executive director Graeme Hunt to take over as chairman when Jerry Maycock retires.

Rooftop solar changing energy market

Rooftop solar panels cut peak electricity demand last summer by 7 per cent and their growing popularity is reshaping consumption patterns, potentially at higher cost to electricity generators, a new report has found.

PM urged to pull party into line on energy

Prime Minister Malcolm Turnbull will face a showdown over the merits of a proposed clean energy target when government MPs meet tomorrow.

Woodside fears Senegal development delay

Woodside Petroleum says its joint venture partner at the SNE oilfield offshore Senegal, FAR, has declined to support a transition for the energy giant to eventually take over as operator of the operation.

Regulator gives AGL, Origin green light

East coast-based companies AGL Energy and Origin Energy have received approval to enter Western Australia's domestic gas market, where they will join Wesfarmers subsidiary Kleenheat and Alinta Energy.

"Mark My Words" PodcastsView all

23 June 2017

In this Business News podcast Dan Wilkie and Mark Beyer discuss the state budget, fees and charges, skilled migration, the outlook for Perth property, new mining projects, the roadhouse blues, and indigenous business.

16 June 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss resources contracts, unemployment, solar power, BHP, CEO sleepout and apartment developments.

09 June 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss the Access Economics report, mining development activity, WA’s civil infrastructure projects …. and BN’s new CEO.

 

02 June 2017

In this Business News podcast Mark Pownall and Dan Wilkie discuss builder collapses, Wesfarmers leadership, CEO salaries, distilleries and breweries.

26 May 2017

In this Business News podcast Mark Pownall and Dan Wilkie discuss Forrest’s donation, Midland Gate expansion, investing in man caves and ICT for small business.

 

Food & WineView all

Collins buys more WA KFC restaurants

ASX-listed Collins Foods will spend $110.2 million to acquire 28 KFC restaurants around Australia from US-based Yum! Brands, six of which are in Western Australia.

Claremont tops for amenity

Theoretically speaking, office workers in Subiaco have to wait about seven times as long as their Claremont counterparts for a morning coffee, an analysis of amenity levels across 50 suburban office markets has revealed.

Poach Pear plates up to meet demand

A fine foods producer is extending its offering across Australia to satisfy a growing appetite for its artisanal products. 

Brand focus for brewers as market gets crowded

SPECIAL REPORT: Brewers are increasingly focusing on branding to stay relevant in a rapidly evolving craft scene.

Artisans distil spirits’ true essence

SPECIAL REPORT: WA distillers are poised at the forefront of the next big movement in boutique beverages.

Special ReportsView all

Apartments advantage

Apartments advantage

19 June 2017

Opportunities arise amid dearth of new projects

Supply issues likely for apartments
South Perth shines light on city-wide planning problems
Infrastructure projects 2017

Infrastructure projects 2017

12 June 2017

Contractors face unique local challenges
Labor resets infrastructure priorities
Crafting a legacy

Crafting a legacy

06 June 2017

Distillers, brewers help WA lead the way in boutique beverages

Artisans distil spirits’ true essence
Brand focus for brewers as market gets crowded

MiningView all

Lithium supply to fall short: Tianqi

Global demand for lithium is expected to increase by three to four times by 2025 and projected supplies will not keep up, Tianqi Lithium Australia general manager Phil Thick told a Mining Club lunch today.

Explorer spending, resources IPOs up: BDO

A quarterly review of the comings and goings of ASX-listed exploration companies by accounting and corporate advisory firm BDO has highlighted a broad recovery in the resources sector, with battery related commodities leading the way.

Diggers & Dealers to go ahead despite venue closure

Diggers & Dealers chairman Nick Giorgetta says the forum has been assured by the state government that its August event in Kalgoorlie will go ahead, despite the venue's sudden closure by the state.

Newcrest restarts Cadia mine after quake

Newcrest Mining has partially restarted operations at its Cadia East mine in NSW, which had been shut after an earthquake in April.

EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

OpinionView all

This week's property round-up

OPINION: Sales activity expanded over the week, with Reiwa members reporting an increase in weekly sales to 657.

The truth about blockchains

OPINION: Amid all the hype about blockchains, one major issue is finding the best use for the technology.

Mark my words podcast

In this Business News podcast Dan Wilkie and Mark Beyer discuss the state budget, fees and charges, skilled migration, the outlook for Perth property, new mining projects, the roadhouse blues, and indigenous business.

Cashie maintains lucrative allure

OPINION: Everyday Aussies feel gypped when big business doesn't seem to pay its 'fair' share of the tax burden, which may help explain the attraction of the cash economy.

Bank on gold, London to a brick

OPINION: A slide in the value of the $A against the greenback could be a positive for gold. 

RetailView all

Camera Electronic focused on growth

Fifty years after Ronald and Valerie Frank started a camera repair business from their home, their two sons oversee a fast-growing business that combines a new bricks-and-mortar store with an expanding online presence.

Grocery prices are crazy: Coles boss

Australia's food and grocery prices have to come down further because they are "crazy" compared to the rest of the world, Coles managing director John Durkan says.

WA car sales show first improvement in years

New car sales in Western Australia grew on a monthly basis for the first time in four years in May, but the upswing still falls well short of the slide in sales for the year to date.

CEO lunch with Michael Chaney

Business News sat down to lunch at Julio's with Michael Chaney to discuss his career at Wesfarmers and beyond.

New target for remuneration

The salary package for Wesfarmers' new managing director acknowledges the reality that many large companies pay big annual bonuses every year.

Most viewed companies

MRX Technologies

MRX Technologies

Ranked 25th from 123
Engineers

Most viewed people

David Craig

David Craig

Non-Executive Director, Sirius Resources
Councillor, Australian Institute of Company Directors
Deputy Chairman, Perth Diocesan Trustees
Non-Executive Chairman, Brightwater Care Group
Non-Executive Director, Anglican Schools Commission
Non-Executive Chairman, Anglican Community Fund

Jonathan Murray

Jonathan Murray

Non-Executive Director (Non-Executive Chairman since 2016), Hannans
Non-Executive Director (Interim Non-Executive Chair Apr-Nov 2015), Peak Resources
Partner (since 2001), Steinepreis Paganin
Non-Executive Director, Vietnam Industrial Investments

Peter Wall

Peter Wall

Non-Executive Director, LogiCamms
Non-Executive Chairman, Sky and Space Global
Non-Executive Director (Non-Executive Chairman since 2016), Zyber Holdings
Non-Executive Director, Ookami
Non-Executive Director (Non-Executive Chairman since 2016), Transcendence Technologies
Non-Executive Chairman, Activistic
Non-Executive Chairman, MMJ Phytotech
Partner (since 2005), Steinepreis Paganin
Non-Executive Chairman, Minbos Resources
Non-Executive Chairman, MyFiziq

Mathew Walker

Mathew Walker

Chairman, Cicero Advisory Services
Non-Executive Director, Intiger Group
Managing Director, Corizon
Executive Director, Delta Capital

Bruno Camarri

Bruno Camarri

Non-Executive Chairman, LinQ Resources Fund
Consultant (since 2003), Herbert Smith Freehills

Thought LeadershipView all

ESIC Legislation Turns One

A celebration is seemingly in order, as the Early Stage Innovation Company (ESIC) tax incentives are turning one!

What’s on every CIOs mind? Cloud and Mobility

Although cloud computing has been around for over a decade, for most people outside of the tech industry, it will feel like a relatively new concept.

Regional businesses lead the way in innovation

But we're only scratching the surface. Innovation means different things to different people. Some associate innovation with technology, gadgets and science. 

Is the meat in the sandwich? – The Pay and Performance Discussion.

Employees seek reward for their efforts and so regular pay reviews are an important element for any organisation to ensure employees maintain an appropriate level of remuneration.

Future-proofing business through innovation

CommBank's 21 Day Change Challenge helps businesses face change and innovate day to day operations to meet challenges and take advantage of opportunities.