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

Corporate Finance DealsView all

New listings getting tougher

SPECIAL REPORT: Nearly 70 WA-connected companies listed on the ASX in 2016, but current prospects indicate there will be substantially fewer this year.

Local brokers lead capital raisings

SPECIAL REPORT: There was a big rise in the number and value of completed capital raisings in WA last year, according to data compiled in the BNiQ Search Engine.

M&A advisers to battle back after soft 2016

SPECIAL REPORT: Investment bank Gresham Partners and law firm King & Wood Mallesons were the top advisers on mergers and acquisitions in WA in 2016.

ASX queries Padbury's $106m raising plans

Padbury Mining has again attracted regulatory attention, with the company acknowledging it should have notified the ASX when it negotiated potential capital raisings worth $106 million with a Hong Kong-based investor last year.

Paladin reveals major debt restructure

Ahead of a looming April deadline for a $US212 million convertible bond repayment, uranium miner Paladin Energy has announced a proposal to restructure its balance sheet by converting some debt into equity, extending the maturity date of the remaining amount, and undertaking a $US75 million capital raising.

Most CommentedView all

McGowan to cancel Roe 8

The Roe 8 road project will be cancelled if the Labor Party wins the upcoming state election, opposition leader Mark McGowan said today, even though the government has already signed a contract for construction, with $236 million of funding to be re-allocated to three alternative roads.

Grist, Nathan back local startup

Vocus Upstart co-founders Anthony Grist and Robert Nathan have participated in a $300,000 capital raising by Perth-based startup GeoMoby.

State go-ahead for Cameco uranium project

The state government has approved Canadian miner Cameco's proposed Yeelirrie uranium mine in the Goldfields, despite its failure to meet one of nine Environmental Protection Authority recommendations.

Subbies empowered under new code

A new code of conduct for the state's construction sector has been hailed as a game-changer for the industry, with the potential to reduce costs across the board by 20 per cent.

Power outages hit 35,000 across WA

Power outages are affecting 35,000 residents across Perth and Western Australia's South West.

Politics & the EconomyView all

Ley to resign, Turnbull to reform expenses

Federal Liberal politician Sussan Ley will resign as minister for health, aged care and sport after coming under fire in recent weeks for expense issues, although she insists she followed the ministerial code of conduct.

Tax priorities among chief concerns for executives

The state's businesses leaders are optimistic about improved conditions in the year ahead, according to feedback from the annual Business News chief executive survey, with tax reform identified as a priority issue whichever party is in government after the March poll.

Business CEOs more cautious in 2017: Survey

Fresh from a year that delivered major political shocks and proved tougher than expected, Australian business leaders are taking a cautious approach to 2017.

Insolvencies up in September

Rental, hiring and real estate services were among the industries that fared worst as external administrations jumped 14 per cent in Western Australia for the September quarter, as insolvency experts warn that an economic rebound has not yet clearly emerged.

Culleton to appeal bankruptcy

WA Senator Rod Culleton says he will appeal against a Federal Court ruling that he is bankrupt as he fights to save his political career.

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PropertyView all

Economic diversity a challenge for property

A new report assessing the diversity of property use across the city has provided some surprising results.

Rosewood spends $105m on upgrades

Aged care provider Rosewood is responding to increasing demand for its services by booking $105 million in developments for its West Perth and Leederville facilities.

$45,000 fine for Osborne Park builder

An Osborne Park-based building company and its nominated supervisor have been fined a combined $45,000 for negligent work that led to the roof of one house blowing off and another being badly damaged during a storm.

Satterley goes from south to west

Satterley Property Group is closing its long-time South Perth headquarters, taking advantage of historically high levels of vacant office space to move across the river to West Perth.

Sustainability worth the price

New research shows homebuyers are willing to pay extra for energy-efficient design.

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

Education to inspire entrepreneurial minds

Local not-for-profit group Ausum Initiatives has teamed up with Kulbardi, a partly owned and managed Aboriginal office supplies company, to deliver an intensive entrepreneur program for young Aboriginal men and women.

Artists get creative on sales

With fewer exhibition opportunities or prospects of gallery representation, local artists have diversified their approach to the market. 

Upgrades for Kings Park naturescape

The Rio Tinto Naturescape Kings Park facility will close next month to allow a $3 million expansion, which has been funded by the mining giant.

Minchin to lead care provider

Former Silver Chain Group senior executive Dan Minchin will lead three community care providers into a new era when they merge into one organisation later this year.

Who comes after Sarich and Fini?

In 40 years' time, when people look back at the recent crop of winners of the Western Australian of the Year business awards, how will they be remembered relative to the early winners like Ralph Sarich, Sir Laurence Brodie-Hall and Michael Edgley?

EnergyView all

WA LNG stagnant while national exports grow

Western Australian facilities did not contribute to a 38 per cent increase in national LNG exports in 2016 despite first gas being produced at Chevron's Gorgon project, according to the latest research from EnergyQuest.

$52m Warro impairment for Alcoa

A $52 million impairment has been taken by Alcoa World Alumina Corporation on its share of the Warro gas project in the Perth Basin, after the company determined exploration results by project operator Transerv Energy did not support the existing carrying value.

Private investors shape utilities

The proposed part sale of Western Power is not the only move towards increased private investment in the utilities sector.

Renewables drive energy shift

The growth of solar power over the next decade could cut the price of energy in WA, according to a man involved in one of the latest projects to take a step forward.

Gas pipeline owner to build storage facility

A $69 million gas storage facility will be built near Onslow by Duet Group subsidiary DBP Development Group to help producers and consumers smooth production profiles and cover planned outages.

"Mark My Words" PodcastsView all

13 January 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss South West water, building subcontractors, WA Business awards and the deals environment.

06 January 2017

In this Business News podcast, Mark Beyer and Mark Pownall discuss Roe 8, house prices, Libor scandal, Atlas Iron and WA’s education market.

16 December 2016

In this Business News podcast, Mark Beyer and Dan Wilkie discuss residential property outlook, Monadelphous and Civmec diversify, Nev Power, Adrian Fini and Brendon Grylls are our people of the yea

09 December 2016

In this Business News podcast, Mark Beyer and Mark Pownall discuss Asian property investment, Diploma group’s battles, Liberal party moves, John Gillam and who are WA’s biggest employers?

07 December 2016

A proposal to roughly double the royalties paid by the state’s two biggest iron ore miners was divisive and could set a dangerous precedent for fixing budget issues, Fortescue Metals Group chief executive Nev Power told this morning’s Business News Success & Leadership breakfast.

Food & WineView all

Woolworths hires new supermarkets boss

Woolworths has appointed long-standing Tesco executive Claire Peters as managing director of its supermarkets chain, which is battling Coles and Aldi to lure customers.

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.

Foreign investment buoys Margaret River winemakers

More than a dozen WA winemakers have joined forces to tackle the growing Chinese market.

Special ReportsView all

Person of the year 2016

Person of the year 2016

16 December 2016

Nev Power leads Fortescue Metals Group through an outstanding 12 months

Power leads Fortescue revival
Fini thrives on delivering iconic vision
Grylls puts himself in play
Biggest employers 2016

Biggest employers 2016

14 December 2016

Consolidation continues among major employers
WA dynasties 2016

WA dynasties 2016

05 December 2016

We look at long-running family businesses

Compu-stor moves with the times
Families seek opportunities with big partners

MiningView all

New year spark for lithium

Local lithium players have hit the ground running in January, with Galaxy Resources shipping its first lithium since operations restarted at its Mt Cattlin mine, and others announcing more than $110 million of new deals.

Fortescue picks new CFO

Iron ore miner Fortescue Metals Group has picked one of its non-executive directors, and former Helloworld chief executive, Elizabeth Gaines as its new chief financial officer.

Rio hits iron ore output forecast

Rio Tinto has kept intact its target for iron ore shipments in 2017 after hitting the mid-point of its revised guidance range for 2016.

State go-ahead for Cameco uranium project

The state government has approved Canadian miner Cameco's proposed Yeelirrie uranium mine in the Goldfields, despite its failure to meet one of nine Environmental Protection Authority recommendations.

Steady debut for Kalamazoo

Gold-focused Kalamazoo Resources has wrapped up its first day of trading on the ASX, after completing a downsized $5 million initial public offering.

OpinionView all

Setting foundations for growth

OPINION: The effects of recent positive export numbers on WA's trade-exposed economy could be a positive for the year ahead.

Monitoring an environment of influence

OPINION: The environmental lobby is no less worthy of scrutiny in terms of foreign influence than big business.

Mark my words podcast

In this Business News podcast, Mark Pownall and Mark Beyer discuss South West water, building subcontractors, WA Business awards and the deals environment.

One Nation’s ace in the pack

OPINION: The WA branch of Queenslander Pauline Hanson's protest party appears set to influence the state election. 

This week's property round-up

OPINION: Reiwa members reported an increase in weekly sales to 418 this week. The overall 104 per cent increase in sales is attributed to a 121 per cent increase in sales for houses, 106 per cent for units and 11 per cent for vacant land.

RetailView all

David Jones lifts its first-half sales 4%

David Jones' South African parent company says the department store chain lifted adjusted first-half sales four per cent.

Customers control the retail relationship

ANALYSIS: The popularity of online shopping in the US has reached a tipping point, breaking bricks and mortar retailers' hold on the market.

Alexium in US pillow contract

ASX-listed manufacturer Alexium International Group has signed an initial agreement to supply chemicals to a US homewares company for a new line of cool-touch pillows, in a move the company said could eventually generate revenues of $US10 million per annum.

Don’t ignore the hype

Business News work experience student Jay Lake explains how some fashion consumers aim to profit from their purchases.

Street wear locals take global approach to fashion

Perth's specialist street wear vendors are part of a global trend to acutely restrict supply of distributed and in-house labels - following in the footsteps of many luxury brands that use scarcity as a marketing tool.

Most viewed people

Adrian Fini

Adrian Fini

Principal, FJM Property
Board member, UWA Business School
Director, Giving West
Director, Perth International Arts Festival
Managing Director, Fini Group
Co-founder, Little Creatures

Dan Minchin

Dan Minchin

Director, Methodist Ladies'

Faldi Ismail

Faldi Ismail

Acting Chairman, WHL Energy
Managing Director, Otsana Capital
Director, Marion Energy
Chair, Ookami
Non- Executive Chair, Dotz Nano
Non-Executive Director, Cre8tek

Simon Youds

Simon Youds

Chief Executive Officer, Vector Resources

Peter Fogarty

Peter Fogarty

Proprietor, Fogarty Wine Group
Director, Pendulum Capital
Chair, Collie Water

Thought LeadershipView all

Is Collaboration a “buzz word” or the key to Australia’s immediate oil and gas future?

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

Essential learnings of a smart city initiative

After four years of intense work on the Presqu'ile smart city project in Grenoble, France, let me share with you two aspects of the initiative that are absolutely central to a s

Is there a solution to the Millennial challenge?

Narcissistic, adaptable and creative are character traits commonly associated with Millennial (Upwork Inc. 2015).

Saving Money with recruitment

The past 12 months has seen fulltime jobs decline by approximately 53,000, the first annual decline in almost two-and-a-half years.

Has the role of the Graduate died?

The fourth industrial revolution theory predicts entry level white collar jobs will be eradicated by technology.