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

16 Jul 2018

Hancock Prospecting’s $326 million takeover bid for struggling iron ore miner Atlas Iron has been endorsed by independent expert BDO, which found the pricing was fair and reasonable.

Sternship Advisers

Sternship making its mark

16 Jul 2018

SPECIAL REPORT: A new corporate advisory firm working from a historic building in West Perth has rapidly made an impact, advising on more than a dozen transactions for public and private companies.

Fragrance Group

Fragrance gets the go ahead for $180m CBD twin-tower

16 Jul 2018

Singapore-listed Fragrance Group is one step closer to realising its $180 million vision for a two-tower hotel-cum-office and residential development in the CBD’s west end, with the City of Perth giving the project the green light.

Valmec

Valmec, WBHO secure Water Corp contracts

16 Jul 2018

Engineering and construction group Valmec and Geraldton-based WBHO Infrastructure have secured infrastructure contracts with Water Corporation at its facilities in Western Australia.

Panoramic Resources

Panoramic to reopen nickel project

16 Jul 2018

Panoramic Resources has announced it will reopen its mothballed Savannah nickel project in the east Kimberley, after securing a $40 million loan facility with Macquarie Bank.

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Corporate Finance DealsView all

Bowra & O'Dea

InvoCare in SW funeral buy

12 Jul 2018

Listed funeral company InvoCare has continued to expand its market share in Western Australia, after purchasing South West business Archer & Sons Funeral Homes.

Tap Oil

Tap rejects $30m Risco bid

11 Jul 2018

Tap Oil has urged shareholders to reject a $29.8 million takeover bid from major shareholder Risco Energy Investments, after independent expert BDO valued the company well above the offer price.

Sandfire Resources

Sandfire buys into Alaska project

10 Jul 2018

Sandfire Resources has entered into a strategic relationship with Victoria-based White Rock Minerals, which includes a $2.5 million equity investment and an option to earn-in to the junior explorer’s Red Mountain zinc project in Alaska.

Primero Group

Primero in steady ASX debut after $25m IPO

09 Jul 2018

Local engineering company Primero Group made a steady debut on the ASX today after completing a $25 million initial public offering.

Wide Open Agriculture

Wide Open lists after $5m IPO

Property Council of Australia

06 Jul 2018

Williams-based Wide Open Agriculture has begun trading on the ASX today after the company raised $5 million via an initial public offer.

This week's most viewedView all

WA to lead residential property recovery

12 Jul 2018

Sentiment towards Western Australia’s housing market fell during the second quarter of 2018 but the state is expected to lead the country for residential property capital growth over the next two years, according to a survey of industry professionals.

Lucapa Diamond Company

No sugar coating oil shock pain

Tim Treadgold

10 Jul 2018

Politics and the market have collided in terms of oil supply and demand, with speculation the world might be in for an oil shock not seen for decades.

Nicheliving

Nicheliving makes more changes in listing quest

13 Jul 2018

The long road to an ASX listing for Nicheliving Holdings continues, after the property developer released its fourth supplementary prospectus this week, including details of its new 'big 4' auditor and a new director, and foreshadowing the release of a third replacement prospectus that will not have financial forecasts.

WA woman gets prison sentence for tax breaches

12 Jul 2018

A 65-year-old Geraldton woman has been handed a suspended prison sentence after failing to lodge tax documents dating back to 2008.

Lester Group

Lester to recycle capital in WA

11 Jul 2018

Western Australia-based developer and investor Lester Group has ridden the wave of a strong east coast property market and is now seeking more opportunities closer to home.

Most CommentedView all

3 Oceans Property

Iconic Scarborough gets the go ahead

27 Jun 2018

Following the rejection of an initial proposal late last year, the Metropolitan Redevelopment Authority has given 3 Oceans Property the green light to progress its twin-tower mixed-use development on the corner of West Coast Highway and Scarborough Beach Road.

LandCorp

Fini adds to Freo sustainability

04 Jul 2018

Several alternative approaches to tackling housing affordability are taking shape across Fremantle, with social enterprise Nightingale Housing one step closer to actualising its Wood Street project with its recent launch of presales.

BMD Constructions

BMD wins $49m freeway contract

18 Jun 2018

BMD Constructions has been awarded a $49.4 million state government contract to widen a section of the Mitchell Freeway, beating CPB Contractors and WBHO Infrastructure for the work.

City of Busselton

Busselton shortlisted for Qantas academy

22 Jun 2018

Busselton has been shortlisted with nine other regional cities nationwide as the potential home for the new Qantas pilot academy, weeks after the environmental watchdog recommended conditional approval for the operations of a $70 million upgrade at the Busselton-Margaret River Airport.

URBNSURF

Perth surf park a step closer to $28m takeoff

Rueben Hale

26 Jun 2018

A private Perth company led by former oil and gas executive Andrew Ross is close to realising its vision of building artificial wave parks across Australia.

Politics & the EconomyView all

State govt defends Huawei contract

Chamber of Commerce and Industry of WA

11 Jul 2018

The state government says there was no conflict of interest with the recent awarding of a $205 million contract to Huawei, after it was revealed the Chinese group paid for flights and phones for two cabinet members during a trip to China in 2015.

WA accepts $3.3bn GST compromise

Mark Beyer AAP

05 Jul 2018

The planned overhaul of the GST distribution system may not be perfect, but it's a pragmatic and creative response all states and territories should be able to accept, Western Australian Treasurer Ben Wyatt said today.

Turnbull rejects GST 'average' proposal

04 Jul 2018

The Turnbull government has rejected a key recommendation of a review into the carve-up of GST revenue among the states and territories.

RBA holds cash rate at 1.5%

03 Jul 2018

The Reserve Bank has left Australia's official interest rate at its record low level of 1.5 per cent for the 23rd month in a row, with weak household spending remaining an area of concern for the economy.

Shorten's captain's call was bad timing

29 Jun 2018

Labor leader Bill Shorten has backed down from his ‘captain’s call’ to roll back company tax cuts for businesses with turnovers between $10 million and $50 million a year, after a leadership meeting today.

Upcoming Business News EventsView all

Success and Leadership - Charlie Bass - CEO and...

Grand Ballroom, Hyatt Regency Perth - 25 July 2018

PropertyView all

Fragrance Group

Fragrance gets the go ahead for $180m CBD twin-tower

16 Jul 2018

Nicheliving

Nicheliving makes more changes in listing quest

13 Jul 2018

Yara Pilbara Holdings

Sotheby’s markets Taj to the world

Property Council of Australia

12 Jul 2018

A Peppermint Grove property once home to the infamous ‘Taj on Swan’ is set to go under the hammer, with the owners recently engaging Sotheby’s International Realty to run a global sales campaign.

WA to lead residential property recovery

12 Jul 2018

Lester Group

Lester to recycle capital in WA

11 Jul 2018

Western Australia-based developer and investor Lester Group has ridden the wave of a strong east coast property market and is now seeking more opportunities closer to home.

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.

18 Jul 2018 | @ 05:30pm

AmCham: Disruptive Technologies with Uber and Moneycatcha

19 Jul 2018 | @ 07:00am

Perth in Focus - Perth Perception Survey

19 Jul 2018 to 20 Jul 2018 | @ 08:30am

AIM WA UWA Business School Executive Education: Advanced Negotiation in Practice

19 Jul 2018 | @ 09:00am

'Navigating Difficult Conversations' Full Day Workshop

19 Jul 2018 | @ 05:30pm

Construction Industry Drinks and Networking - CIDN Perth July Event

20 Jul 2018 | @ 08:00am

Alternative Pay Approaches for Companies at each stage of the Business Life Cycle

20 Jul 2018 to 22 Jul 2018 | @ 09:00am

LIVE 3-Day Free Cryptocurrency and Bitcoin Training Workshop

20 Jul 2018 | @ 12:00pm

Perth Networking Luncheon - 20th July 2018

20 Jul 2018 | @ 06:00pm

2018 HIA WA Apprentice Awards Ceremony

21 Jul 2018 | @ 06:30pm

2018 Master Builders-Bankwest Excellence in Construction Awards

Arts & CommunityView all

Murdoch University

Grants given to boost waste management

12 Jul 2018

The state government has distributed about $1 million in grants among sixteen environmental organisations as it aims at boosts recycling and improve waste management practices in Western Australia.

HBF

TriEvents runs its course

10 Jul 2018

Major events management operator TriEvents has folded, creating an opportunity for new players to step in and join the race.

Lotterywest

Lotterywest lifts sales to $855m

Tayler Neale Mark Beyer

05 Jul 2018

Lotterywest has increased its total community grants after achieving a 3.4 per cent lift in sales to $855 million in 2017-18, a notable turnaround from the prior year when it failed to meet its budget.

Macmahon Holdings

Linking veterans to new opportunities

05 Jul 2018

Veterans’ recruitment organisation Working Spirits is steadily increasing its profile among the Western Australian businesses community, with 10 former veterans recently finding placements, including with mining services business Macmahon Holdings.

Royal Perth Hospital

Perth doctor finds success with fiction

05 Jul 2018

Royal Perth Hospital emergency doctor Michelle Johnston has leveraged her career in medicine to drive the direction of her first novel, establishing her credentials as an emerging author in the process.

Featured PhotographsView all

Hadiqa Moroccan Restaurant & Bar at Hibernian Place

Meeting room and rooftop

Success & Leadership breakfast with Chris Sutherland, Programmed

Element office kitchen

The Melbourne Hotel

Conservatory

Riff powered by SpaceCubed

Riff powered by SpaceCubed

Sculpture By The Sea 2018

Sculpture By The Sea 2018

EnergyView all

Trump tweet pushes oil price down

05 Jul 2018

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude.

Pacific Energy

Pacific flags $15m impairments

02 Jul 2018

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

Power Ledger

Power Ledger in Silicon Valley electric car deal

Matt Mckenzie

20 Jun 2018

Perth-based blockchain business Power Ledger has signed a deal to work on an electric vehicle charging project in California’s Silicon Valley.

WA rooftop solar to triple: AEMO

Matt Mckenzie

14 Jun 2018

Rooftop solar capacity across Perth and surrounds will nearly triple in the next decade, to be about 2.3 gigawatts, as the Australian Energy Market Operator confirmed current capacity and demand side management was sufficient to meet forecast demand on the South West Interconnected System power network.

Horizon Power

Tudor heads east from Horizon

Nicholas Clarke

13 Jun 2018

Frank Tudor has resigned as managing director of Horizon Power to take the reins of eastern states energy player Jemena.

"Mark My Words" PodcastsView all

13 July 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

06 July 2018

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

29 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss defence contracts, Scarborough high rise, Landgate and TAB privatisation, Atlas Iron, 2018's RIsing Stars, and our special report on Indigenous business.

22 June 2018

PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.

15 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss BHP’s new iron ore mine, plus more good news on lithium and nickel, the battle over Atlas Iron and shipping rights at Port Hedland, Perth house prices – which suburbs have delivered the best long-term returns, and our special report on infrastructure.

Food & WineView all

KPMG

Ku De Ta failure dents the Point

09 Jul 2018

The $50 million On the Point hospitality precinct in East Perth has suffered a major setback after its anchor tenant was placed in administration but other restaurants and bars at the riverfront property are set to continue trading.

Gamble bets on rural NSW venture

26 Jun 2018

Restaurateur Kim Gamble is enjoying the country life in NSW after 30 years of running cafes and bars in Perth.

KordaMentha

Chocolate cafe into liquidation

25 Jun 2018

The Perth-based Guylian Belgian Chocolate Cafe franchise has been placed into liquidation, just over a year after the business opened on St Georges Terrace.

Boston Brewery

Vic Park bar voted best in Australia

Gage Roads Brewing Company

12 Jun 2018

Victoria Park bar the Dutch Trading Co has been named the best beer venue in the country, as judged by a panel of 23 industry leaders coordinated by Beer and Brewer Magazine.

Gage Roads buys Matso's for $16m

08 Jun 2018

Gage Roads Brewing Company has struck a deal to purchase Matso’s Broome Brewery for $16.1 million, along with a $12 million capital raising to fund the acquisition.

Special ReportsView all

Corporate finance June 2018

16 July 2018

Six-page analysis of the top advisers

Sternship making its mark

Mark Beyer 16 Jul 2018

New corporate advisory players lift market share

Mark Beyer 16 Jul 2018

Growth in alternative financing

Mark Beyer 16 Jul 2018

Total shareholder returns 2018

09 July 2018

Resources returns lead rebound

Matt Mckenzie 09 Jul 2018

Strong returns for AusCann investors

Matt Mckenzie 09 Jul 2018

Indigenous Business 2018

02 July 2018

Contractors refine their growth strategies

Indigenous contractors deliver through diversity

Mark Beyer 02 Jul 2018

Rising Stars 2018

27 June 2018

Veris leads nine award winners

Docmosis making major US moves

Tori Wilson 27 Jun 2018

Greenbatch grows as it cuts waste

Tori Wilson 27 Jun 2018

SPH builds opportunity on gender diversity

Katie McDonald 27 Jun 2018

West Pilbara corp boosts commercial offering

Mark Beyer 27 Jun 2018

Numbers game at Wanneroo

Tayler Neale 27 Jun 2018

Infrastructure contractors

18 June 2018

Transport, energy projects create opportunities

Labour challenge looms as work ebbs and flows

Matt Mckenzie 18 Jun 2018

State still sorting contracts

Matt Mckenzie 18 Jun 2018

From Bibra Lake to the Big Apple

Matt Mckenzie 18 Jun 2018

Contractors switch on for next generation of power

Matt Mckenzie 18 Jun 2018

MiningView all

Atlas Iron

BDO backs Atlas takeover

16 Jul 2018

Hancock Prospecting’s $326 million takeover bid for struggling iron ore miner Atlas Iron has been endorsed by independent expert BDO, which found the pricing was fair and reasonable.

Panoramic Resources

Panoramic to reopen nickel project

16 Jul 2018

Panoramic Resources has announced it will reopen its mothballed Savannah nickel project in the east Kimberley, after securing a $40 million loan facility with Macquarie Bank.

Emeco Holdings

Emeco lifts earnings in FY18

16 Jul 2018

Heavy equipment supplier Emeco Holdings has posted operating earnings of $153 million in its preliminary financial year results, which included a strong fourth quarter performance due to a ramp-up in new projects.

Kasbah Resources

Kasbah releases tin project DFS

16 Jul 2018

Kasbah Resources has released a new definitive feasibility study for its Achmmach tin project in Morocco, which outlines a capital cost of $US96.4 million ($130 million).

Beadell Resources

Beadell in board, contract changes

16 Jul 2018

Gold producer Beadell Resources has announced a board restructure and a new mining contract at its operations in Brazil, as the company pursues a primary listing in Canada.

Current IssueView all

Issue for 16 Jul 2018 to 29 Jul 2018

Issue for 2 July to 15 July 2018

Issue for 18 Jun 2018 to 1 Jul 2018

Issue for 04 June 2018 to 17 June 2018

Issue for 21 May 2016 to 03 June 2018

OpinionView all

Mark my words podcast

Metropolitan Redevelopment Authority

Matt Mckenzie

13 Jul 2018

GST spending pressure

Peter Kennedy

13 Jul 2018

Opinion: The McGowan government would be advised to avoid the irresponsible spending blowout of their predecessors, however tough the political sell.

Change a constant as city grows

Mark Pownall

12 Jul 2018

Opinion: Sensible development is the only way forward for a city beset by urban sprawl such as Perth.

Mark my words podcast

Mark Pownall

06 Jul 2018

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

Telstra

Disruption, coming to a business near you

Tim Treadgold

06 Jul 2018

Opinion: Businesses that fail to change when the market demands are playing with fire.

RetailView all

Woolies wants fuel IPO despite Caltex deal

05 Jul 2018

Woolworths still wants to exit the petrol business despite having inked a 15-year fuel supply deal with Caltex Australia.

KFC

KFC expansion swells Collins Foods profit

26 Jun 2018

Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.

Metcash

Metcash shares lift despite $150m FY loss

25 Jun 2018

Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.

Hall Chadwick WA

Kambo's into administration

11 Jun 2018

Customers of local whitegoods and home appliance retailers Kambo’s and Liebe + Haus have been told they will need to wait several days before finding out if their credit purchases are still valid after the two jointly-owned businesses were placed into administration on Friday.

Wesfarmers

Wesfarmers leadership changes