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

Corporate Finance DealsView all

Aust Mines to raise $6m for project work

Perth-based explorer Australian Mines has announced plans to raise up to $6.3 million from investors to fund ongoing work at its Sconi and Flemington scandium-cobalt projects.

Beadell raises $51m for plant upgrades

Gold miner Beadell Resources has rattled the tin for $51 million to pay for plant upgrades and further exploration work at its Tucano mine in Brazil.

Arafura taps investors for $5m

Rare earths explorer Arafura Resources has announced a $5.1 million capital raising to fund ongoing work at its Nolans project in the Northern Territory.

AusQuest surges on South32 venture

Shares in local explorer Ausquest have surged on news the company has struck an agreement with BHP Billiton spin-off South32, with the two companies to form a joint venture over prospective projects.

Indigenous contractor signs third deal this year

Indigenous Construction Resource Group has diversified its business by purchasing consulting group NANA Australia, the local offshoot of a giant Alaskan native corporation.

Most CommentedView all

Roe 8 documents handed over

Previously secret documents regarding the planning of the Perth Freight Link were yesterday released by Main Roads after a recent order by the Information Commissioner, according to Labor North Metropolitan region candidate Alannah MacTiernan.

South Perth uncertainty stalls Civic Heart

Buyers at Finbar Group's $400 million Civic Heart project are being refunded their deposits, after the state's largest apartment developer announced it would scale back the size of the tower because of uncertainty regarding planning rules in South Perth.

Builton failure a costly housing hit

The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.

Senate orders Roe 8 inquiry

UPDATE: A snap inquiry into alleged breaches of environmental conditions at the Roe Highway extension project will be held next week, after a motion introduced to Parliament by Greens Senator Scott Ludlam was today backed by the Senate.

Freo council supports protester fundraiser

Fremantle council has passed a motion to support concerts raising funds to help pay the legal fees of those protesting against the Perth Freight Link project.

Politics & the EconomyView all

Barnett says he would accept 70c GST floor

Premier Colin Barnett has called on the federal government to pick a figure for the proposed GST floor, saying he would agree to 70 cents in the dollar as the prime minister has indicated.

Xenophon would fix GST dilemma

ANALYSIS: Malcolm Turnbull was simply bowing to political reality when fending off questions about Western Australia's miserable share of GST revenue during his whirlwind visit to Perth on Monday.

PM aiming for WA GST floor in 2019-20

Prime Minister Malcolm Turnbull's promise to put a floor on what the states receive as a share of the revenue they raise from GST still stands, although it is still a few years away before it can be implemented.

Tunnel costs lower than first forecast

The state government's estimate for the cost of a tunnel to complete Roe 9 has fallen dramatically since the option was first floated in 2014, according to documents obtained under freedom of information by Labor.

Leaders facing tests of policy

ANALYSIS: With early voting for the state election due to start on Monday, both Colin Barnett and Mark McGowan will face major tests when they deliver their formal policy speeches on Sunday.

Upcoming Business News EventsView all

Crown Ballroom, Crown Perth - 08 March 2017
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PropertyView all

Property industry says Labor's tax will hurt WA

Property industry lobby groups say WA Labor's plan to introduce a 4 per cent tax on foreign buyers of residential property if it wins the March 11 state election is a retrograde step for the state'

Improving sentiment to drive property rebound

Perth's median house price is on the verge of upswing in 2017, as a stabilising labour market and surging commodity prices drive marked improvements in consumer sentiment.

Boral shakes off WA pain to deliver solid profit

Building products manufacturer Boral has maintained a solid half-year profit despite cutting 100 jobs in Western Australia last year, following a plunge in sales volumes and earnings at its Boral B

South Perth uncertainty stalls Civic Heart

Buyers at Finbar Group's $400 million Civic Heart project are being refunded their deposits, after the state's largest apartment developer announced it would scale back the size of the tower because of uncertainty regarding planning rules in South Perth.

Developers keen on Cannington

A commercial property across the road from Westfield Carousel has sold for $1.6 million, as developers continue to seek sites around the City of Canning's planned new town centre.

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

BHP renews indigenous partnership with $14m pledge

BHP Billiton has extended its partnership with indigenous organisation Kanyirninpa Jukurrpa, following the announcement of a $14.7 million contribution to the Martu Ranger program over the next five years.

Pollies cool on arts commitment

The local arts sector has struggled to capture attention for a move it thinks is key to the sustainability and future development of the industry, with no political parties committing to the Chamber of Arts and Culture's proposed pledge of $100 million of increased funding over the next four years.  

A study in democratised giving

A group of young women living in high poverty areas of rural Cambodia will have access to tertiary level education after a recent live crowdfunding event in Perth raised more than $10,000.

Charities cement corporate connections

Tight economic conditions have led the volunteering sector to adapt its practices as demand for services continues to grow.

Fringe: The rehearsal

PHOTO ESSAY: Direct from London's West End, the unique cabaret-circus La Soiree from Fringe World 2015 & 2016 is back performing its show in Western Australia.

EnergyView all

Goyder to chair Woodside

Outgoing Wesfarmers boss Richard Goyder has been revealed as successor to Michael Chaney as chairman of energy giant Woodside Petroleum, a week after we was named the next chairman of the AFL.

Ship launches LNG as a Pilbara logistics option

Woodside Petroleum has officially launched its latest marine craft, taking the opportunity to showcase the newly built platform supply vessel Siem Thiima in Fremantle due to its capacity to use LNG as a fuel.

Beach swings to profit after record sales

Beach Energy has swung to a first-half net profit on the back of record sales volumes and higher oil prices.

WorleyParsons shares plunge on loss

Engineering and project management firm WorleyParsons says the slump in activity among its customers, which caused revenue to plunge by 35 per cent and pushed the company to a first-half loss, may have bottomed out.

Santos halves loss, cuts debt

Oil and gas producer Santos has halved its full-year loss and cut net debt as it continues to restructure and cut costs.

"Mark My Words" PodcastsView all

17 February 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss Civic Heart, Richard Goyder, top IGA, local property market and WA private companies.

10 February 2017

In this Business News podcast, Mark Beyer and Mark Pownall discuss the Builton collapse, election promises, Richard Court and Rob Bransby, and WA’s professions.

03 February 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss startups and software, Aldi, election campaign and transport infrastructure.

27 January 2017

In this Business News podcast, Mark Pownall and Mark Beyer discuss the Builton collapse, CBD vacancy rates, Balla Balla iron ore and land developers.

20 January 2017

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

Food & WineView all

Yowie chocolates return to Australia

Yowie chocolates - Australia's answer to Kinder Surprise - are returning to local shops for the first time after their relaunch in the United States three years ago.

Many cooks make for great events

PHOTO ESSAY: Whoever coined the phrase 'too many cooks spoil the broth' clearly didn't work in a commercial kitchen catering for large events. 

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.

Special ReportsView all

Professional services 2017

Professional services 2017

13 February 2017

Legal sector shake-out continues

Law firms grapple with market shift
Ports & Transport 2016

Ports & Transport 2016

06 February 2017

The Roe 8 debate is a flashpoint ahead of the state election

Election to determine road, port future
Locals call for regional road spend
New era

New era

25 January 2017

Fresh facilities bring opportunities for conferences and conventions

Crown duels with Starwood, Intercontinental for events
Focus on delegates as events evolve

MiningView all

BHP bounces back to half-year profit

BHP Billiton has posted a first-half profit of $US3.2 billion ($A4.2 billion) as a rebound in prices for iron ore and petroleum helped the resources giant swing back to profitability.

Monadelphous profit slips 24%

Engineering firm Monadelphous Group is looking to diversify into new markets such as infrastructure and renewables as revenue from mining and energy customers continues to decline.

Solid six months for Fleetwood

Perth-based Fleetwood Corporation has posted solid results for the half year, with revenue higher and profit surging, but no dividends declared.

Mod up on drilling results

Shares in copper explorer MOD Resources closed higher on promising drill results at the company's T3 copper operation in Botswana.

New mine approved for Atlas Iron

Resurgent iron ore miner Atlas Iron will begin production at its Corunna Downs project in the Pilbara in March next year, after giving the green light for its development today.

OpinionView all

Accelerator expectations need to be slowed

OPINION: Startup accelerators hope to beat the odds on the pathway to success, but the numbers suggest that even the 'experts' can't pick winners.

Foreign players cement their footprint

OPINION: Everyone exposed to the Australian retail industry knows how tough conditions are, but what they might not fully understand is the extent to which a once-local industry is being blasted out of business by international competition.

Mark my words podcast

In this Business News podcast, Mark Pownall and Mark Beyer discuss Civic Heart, Richard Goyder, top IGA, local property market and WA private companies.

Consumer choice can limit our options

OPINION: Modern commerce that places cheap and convenient at the head of the queue comes at a cost to other measures of value.

Your best new prospects are your current customers

OPINION: Existing clients are a valuable source of future business.

RetailView all

Wesfarmers considers Officeworks IPO

Wesfarmers is considering a spin-out of its profitable Officeworks business, which contributed to strong earnings growth for the Perth-based conglomerate in the first half alongside Bunnings and Kmart.

Wesfarmers' diversity keeps it prosperous: Scott

Incoming Wesfarmers managing director Rob Scott, who will formally take his new job late this year, says the business will continue to thrive on the back of its diversity across markets.

Goyder to step down as Wesfarmers boss

Wesfarmers managing director Richard Goyder will step down this year after more than 12 years in charge of the company to be replaced by his deputy, Rob Scott.

Western suburbs supermarket named world's best

The Taylor Road IGA in Nedlands has won the accolade of best independent supermarket in the world, sharing the title with another IGA from South Australia.

JB Hi-Fi earnings up on strong sales

Strong sales of computers, cameras and home appliances have helped drive JB Hi-Fi's half-year profit up by nearly 16 per cent to $110.4 million.

Most viewed people

Rob Scott

Rob Scott

Deputy CEO and Managing Director, Wesfarmers Industrials, Wesfarmers

David Sanders

David Sanders

Non-Executive Director, Marenica Energy
Principal, Bennett + Co
Non-Executive Director, World Titanium Resources
Non-Executive Director, Pura Vida Energy
Non-Executive Chairman, Classic Minerals

David Hogarth

David Hogarth

Group Director – Western Australia, AECOM

Greg Rowe

Greg Rowe

Principal and Managing Director, Rowe Group
Director, Proven Project Management

Thought LeadershipView all

Uber Engineers? A reset of the sector but maintaining the balance.

Welcome into the year of 2017 where we are back at the early stages of a new commodities cycle, or so we are led to believe.

The Australian oil and gas paradox: Will the world’s largest LNG exporter become an importer?

A meeting of state and federal energy ministers in August 2016 highlighted the critical role that gas will play in Australia's rapidly evolving energy sector.

When do you make the call…enough is enough?

Managing ill and injured employees can be extremely testing, particularly when you suspect the absenteeism may not be genuine...or when it is genuine, but their absences are beginning to negatively impact on your operations!

A brave new dawn for the Australian oil and gas industry

After more than AU$200bn in capital investment over the last decade, Australia is emerging as an undisputed global oil and gas epicentre with Perth at its very heart.

Industry leaders say Collaboration critical for local oil and gas industry

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