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

Corporate Finance DealsView all

Aurora in venture with WorleyParsons

Shares in Aurora Labs were higher on the announcement of a commercial venture with engineering business WorleyParsons to incorporate its metal 3D printing technology into operations across a number of industries.

Huntsman launches $4.5m IPO

Perth-based gold exploration company Huntsman Resources is seeking to list on the ASX with the launch of its prospectus for a $4.5 million initial public offering.

Galaxy borrows $US40m to refinance debt

Galaxy Resources has secured a $US40 million ($A53 million) facility with BNP Paribas to square off its existing owings to investment group OCP Asia.

US group buys Perth mining technology firm

Perth-based mining technology firm MiPlan has been bought by US company Hexagon Mining, six years after it was established by Robert and Louise Daw with backing from three local venture capital investors.

MinRes boss pockets $21m from share sales

Mineral Resources managing director Chris Ellison has sold down a small portion of his stake in the diversified Perth business, netting $21.6 million from the transaction.

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.

Builton close to collapse

Residential construction outfit Builton Group is closing its doors, becoming the second local homebuilder associated with Tim Guest's Infinite Wealth to go bust in as many years.

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.

Police arrest 30 at Roe 8 site

Western Australian police say they have arrested 30 people this morning for disrupting land clearing works as bulldozers moved in on the controversial Roe 8 highway extension project.

Outback WA housing market the nation's worst

Outback Western Australia is the worst-performing property market in the nation, according to a new report by ratings agency Moody's, which also found housing prices in Perth have fallen by 8 per cent since peaking in December 2014.

Politics & the EconomyView all

Labor to keep ministerial control on projects

The Labor Party moved swiftly today to reassure the business sector that it would not hand over responsibility for project approvals to an independent tribunal, after reports it was considering such a change.

Outback WA housing market the nation's worst

Outback Western Australia is the worst-performing property market in the nation, according to a new report by ratings agency Moody's, which also found housing prices in Perth have fallen by 8 per cent since peaking in December 2014.

Jobless rate improves in WA

The state's unemployment rate dropped 0.3 percentage points in December to 6.6 per cent as the number of women in the labour force eased slightly, according to the latest Australian Bureau of Statistics data.

NSW premier quits politics

Mike Baird has made a shock announcement this morning, saying he will immediately resign both as premier of NSW and from politics altogether, before revealing a number of serious family health issues.

$1.8bn World Trade Centre proposal for Perth

The state government has received a proposal for a $1.85 billion World Trade Centre in the Perth CBD from a Middle Eastern-backed private group that includes former Perth Airport manager Neil Kidd.

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PropertyView all

Builton close to collapse

Residential construction outfit Builton Group is closing its doors, becoming the second local homebuilder associated with Tim Guest's Infinite Wealth to go bust in as many years.

Diploma unable to start new jobs

The Building Commission's Building Services Board has imposed conditions on two Diploma Group subsidiaries, limiting their ability to carry out work, after the parent company fell into the hands of administrators just before Christmas.

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.

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.
27 Jan 2017 to 05 Feb 2017
| @ 06:00pm
31 Jan 2017 | @ 09:00am
01 Feb 2017 | @ 09:00am
02 Feb 2017 | @ 09:00am
02 Feb 2017 | @ 04:00pm
03 Feb 2017 | @ 07:00am

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

Santos tops guidance after strong quarter

Oil and gas producer Santos has topped its guidance for 2016 with a 7 per cent rise in production and a 31 per cent jump in sales, boosted by the ramp-up of its Gladstone liquefied natural gas plant in Queensland.

Higher production at Woodside

Oil and gas producer Woodside Petroleum achieved a 3 per cent lift in production in calendar 2016, although the company expects output to fall by up to 12 per cent in the year ahead.

WA LNG steady while national exports grow

National LNG exports were up 38 per cent in 2016, but Western Australian facilities did not contribute to the increase 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.

"Mark My Words" PodcastsView all

20 January 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss World Trade Centre, UWA, uranium mining, conventions and conferences.

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?

Food & WineView all

Bega brings Vegemite home in $460m deal

Vegemite will be back in Australian hands after Bega Cheese agreed to buy brands including the iconic spread for $460 million.

Goodman Fielder to close production sites

More than 200 jobs could be lost under plans by food giant Goodman Fielder to close production sites in Western Australia and Queensland.

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.

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

Resolute recruits de Bruin

Resolute Mining has become the second Western Australia-based mining company to appoint a female executive to one of its top jobs within the past week, with Lee-Anne de Bruin to take over as chief financial officer next month. 

Doray names Kelly's successor

Doray Minerals has found a permanent replacement for its recently departed managing director Allan Kelly, appointing Leigh Junk to the role with a larger base salary than his predecessor.

BHP strikes deal to settle Samarco claim

BHP Billiton has reached a near $1 billion deal with Brazil's federal prosecutor to settle a civil claim over the fatal disaster at its Samarco joint venture.

Red 5 faces delays at gold mine

Gold miner Red 5 will be forced to put its Siana operations on temporary standby by the end of the month after running into regulatory delays for construction of new infrastructure.

South32 on track for output target

Diversified miner South32 has posted lower first-half production in several of its commodities but says it remains on track to achieve full-year guidance for the majority of its operations.

OpinionView all

Mark my words podcast

In this Business News podcast, Mark Pownall and Mark Beyer discuss World Trade Centre, UWA, uranium mining, conventions and conferences.

This week's property round-up

OPINION: Sales activity experienced an expansion over the week with REIWA members reporting an increase in weekly sales to 535.

Make your first impression count

OPINION: Salespeople must make sure the hard work is done before they get into the CEO's office.

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.

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.

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.