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

Corporate Finance DealsView all

Universal seeking $5m IPO

Perth-based tech company Universal Biosecurity is aiming to raise $5 million through an initial public offer to fund a two-year research and development program.

Primary receives $37.5m takeover offer

After selling its Southern Cross gold operation last year, Chinese-owned Hanking Gold Mining has made a takeover proposal for Primary Gold worth $37.5 million.

Red 5 in $4m takeover bid

Gold junior Red 5 has announced a hostile $4 million takeover bid for unlisted public company Bullseye Mining, which owns tenements near Red 5’s Darlot gold mine.

Finders takeover offer unconditional

Finders Resources’ major shareholder, Eastern Field Developments, has changed its hostile takeover bid for the copper miner to 'unconditional' status, with the Indonesian consortium continuing to raise concerns about the company’s Wetar project.

Junior miners raise $30m

Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London’s AIM.

Most CommentedView all

WA building approvals down, Perth unaffordable

Building approvals in Western Australia have dropped to the lowest levels in 16 years, according to the latest figures from the Australian Bureau of Statistics, while a new housing affordability survey has labelled the Perth housing market ‘severely unaffordable’.

Western Force could get a lifeline in 2021

New Rugby Australia chief executive Raelene Castle has left the door ajar for the Western Force to return to the fold in 2021, but the Indo Pacific Rugby Championship remains in limbo.

Cooper & Oxley on the brink

Cooper & Oxley Builders, which is one of the 10 largest construction companies in Perth, has suspended work on its projects while it reviews its financial viability.

Investors focus on Quintis projects

The Quintis insolvency could play out very differently from other failed agribusiness investment schemes.

Langoulant review says former govt didn’t have a plan

A review of Barnett government programs and projects has identified a raft of shortcomings in governance, project management and financial management, and listed Royalties for Regions as the single biggest problem.

Politics & the EconomyView all

Report response a key test for Labor

OPINION: The challenges facing the McGowan government are laid out in the report into the Barnett government’s financial record.

Wages growth barely ahead of inflation

Wages growth was stronger than expected in the final three months of 2017, but annual growth of 2.1 per cent is only slightly ahead of inflation.

No Joyce for WA Nationals in federal scandal

Deputy Prime Minister and National Party leader Barnaby Joyce’s position has been further weakened today after the Western Australian branch of his party called for his resignation.

Oil hits 2wk high on equities recovery

Oil prices have hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising US production tempered gains.

Oil gains on equities rebound, weak $US

Oil prices are higher as a rebound in the global equities market and a weak US dollar supported crude's recovery from last week's slide.

Upcoming Business News EventsView all

Hyatt Regency Perth - 03 May 2018

PropertyView all

Government moves on planning reform

The property sector has been given its first taste of the latest changes to the state’s planning systems, with experienced town planner and urban designer Evan Jones revealing his initial ideas at a recent Urban Development Institute of Australia event.

LKD’s $40m East Perth project under way

Boutique property player LKD Development Group has taken the next step in delivering its latest project, appointing Jaxon to commence construction of its nine-storey residential development on Tully Road in East Perth next month.

People Moves: McLean retires, Ardagh back

Master Builders Association WA executive director Michael Mclean has announced plans to retire at the end of this year while former Perth business director Suzanne Ardagh has been appointed to lead Lester Blades’ board advisory service.

MRA approves new Scarborough apartments

Perth-based developer Norup + Wilson’s latest project The Beach Shack, a 99-apartment development in Scarborough, has been given the green light by the Metropolitan Redevelopment Authority.

Foreign investor eyes student accommodation opportunities

Singaporean company Wee Hur Holdings is set to join Perth’s wave of student accommodation developments, following today’s announcement it has recruited Sydney-based Intergen Property Group as the fund’s onshore investment manager with a $700 million mandate to find new development opportunities across Australia.

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

Club Swizzle wows Fringe crowds

PHOTO ESSAY: If Fringe World had a headline act, Club Swizzle would likely be it.

Yeoman writes fresh festival

This year marks a changing of the guard at the Perth Writers Festival, with Katherine Dorrington stepping down as program manager and The West Australian’s literary editor, William Yeoman, stepping in to curate the festival in a guest capacity.

CEO lunch with Jody Nunn

Working under strong, effective leaders has had a profound impact on the career of AICD state manager, WA Jody Nunn.

Books aren’t back, they never left

WA book publishers, retailers and authors have adapted to the threat of digital disruption and shown there’s plenty of life in the business model.

Ballet dances Dreamtime

Collaboration is key for the launch of the West Australian Ballet’s 2018 season, as ballerinas and indigenous dancers come together to perform the contemporary work Milnjiya, while opera singer Deborah Cheetham provides support with a score of traditional indigenous sounds.

EnergyView all

Green China opportunity for WA

Opportunities will grow in the environmental protection and energy efficiency space for Australian exporters as China looks to go greener, according to Chinese deputy consul general Anlin Sun.

Positive return for Paladin

Uranium miner Paladin Energy made a positive return to the ASX today following a tumultuous period during which it announced a recapitalisation deal that left shareholders with 2 per cent of the company’s equity.

Origin predicts growth in WA as more entrants come

Sydney-based Origin Energy has signed up close to 5,000 Western Australian retail gas customers since launching in the Perth market in October.

Carnegie JV in $7m solar win

Carnegie Clean Energy’s joint venture with contractor Lendlease has won its second contract in a week, with the partnership to design, construct and operate a $7 million solar project in NSW.

Simply Energy to enter Perth gas market

An east coast energy retailer backed by a French multinational will become the fifth player selling to consumers in the local gas market, after receiving approval by the Economic Regulation Authority today.

"Mark My Words" PodcastsView all

16 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss McGowan’s first year, Perth Modern School, Scarborough LNG, cryptocurrency and blockchain, Pilbara Minerals and junior mining.

09 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss market volatility, Cooper & Oxley, Bunnings, infrastructure WA, Ron Sayers, Kelvin Ryan, and musical chairs in Perth’s law firms.

09 February 2018

Working under strong, effective leaders has had a profound impact on the career of AICD state manager, WA Jody Nunn.

02 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss house prices – up or down? CBD office vacancies, residential building volatility, AWE bidding war, Quintis update, mining robots, Adventure World and ports and transport.

25 January 2018

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss the Quintis collapse, Wheatstone’s environmental conditions, Doric’s Chinese joint venture, wage gap battle, Fringe festival and land developers.

Food & WineView all

Woolworths pulls out of local liquor association

Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.

Liquor reforms drive change for tourism

State government agency Tourism WA will have greater input into decisions on liquor licence applications, after Premier Mark McGowan today announced a series of regulatory reforms and red tape cuts.

Supply potential for organic wines

The state’s organic wine market may be small but its product is in strong demand, according to local wine producers, with Blind Corner among a handful of growers planning to expand local operations and export activity.

Brand focus Jus the first step

Bert Giancristofaro will play to the strengths of the Jus Burgers brand after taking ownership of the business last year, with his immediate priority being store refits and fine-tuning the customer experience.

Bullish franchises plan to expand

SPECIAL REPORT: Whether it’s burritos, car repairs or mortgage advice, a number of big franchises are targeting growth in 2018.

Special ReportsView all

Legal services

Legal services

12 February 2018

Partners moving across town

Law partners make their moves
Land developers 2018

Land developers 2018

29 January 2018

WA players banking on a brighter year

Developers sense a shift in sentiment
Acquisitions fuel Urban growth
Managing infill-greenfield mix
Corporate Finance 2017

Corporate Finance 2017

15 January 2018

Local dealmakers pursue opportunities

New players chasing finance deals as opportunities align
BDO buys corporate advisory firm

MiningView all

Seven Group up on WesTrac

Seven Group Holdings has lodged a big increase in earnings for the half-year, as improvements in the mining industry aided the strong performance of WesTrac.

Fortescue cuts dividend as profit slumps

Fortescue Metals' half-year profit has dropped 44 per cent as the miner offered wider discounts on its lower-grade product, but the result still came in ahead of market expectations.

NRW strong earnings but no dividend

Mining contractor NRW Holdings has recorded strong growth in underlying earnings for the half year, but has decided against paying a dividend to ensure debt is fully serviced.

BHP hikes South Flank cost

BHP Billiton has increased the expected cost of its South Flank iron ore project to $US3.6 billion ($A4.6 billion), substantially above the estimated range it provided in June 2017 when initial funding was approved.

Kin flags board restructure

Aspiring gold miner KIN Mining is still on the hunt for a new managing director after the resignation of Don Harper last week, with the company announcing a board restructure that will include an independent chairperson.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss McGowan’s first year, Perth Modern School, Scarborough LNG, cryptocurrency and blockchain, Pilbara Minerals and junior mining.

The ‘stall’ is your golden opportunity

The more prepared you are for a knockback, the better the chances it won’t derail the sale.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss market volatility, Cooper & Oxley, Bunnings, infrastructure WA, Ron Sayers, Kelvin Ryan, and musical chairs in Perth’s law firms.

Barnett back to beat GST drum

Although now far from the political spotlight, Colin Barnett has warned of significant upheaval if the GST mess isn’t sorted out.

Award an act of generosity?

This year’s Australia Day honour’s list includes a name familiar to many in WA, but the timing seems odd.

RetailView all

Wesfarmers profit down 86% on write-downs

Wesfarmers' first-half profit has plummeted 86 per cent to $212 million on the back of more than $1.3 billion in impairments against its UK hardware business and Target department stores.

Cashies delivers on profit expectation

Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.

Yowie tumbles on US competition

Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.

Myer CEO pushed out the door

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

JB Hi-Fi shares slump on margin warning

JB Hi-Fi shares have slumped despite a big lift in first-half profit, after the home electronics and entertainment retailer warned of margin pressures and issued lower-than-expected guidance.

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Peter Harris

Peter Harris

Former Executive Director (since 2012)
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Partner, Assurance, EY

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Alan Thomas

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Thought LeadershipView all

Embracing uncertainty on the road to new ways of working

With 30 years of experience in the finance industry and over 15 of those in leadership roles I, like most leaders, would like to think I’ve adapted to and have been able to embrace a number of leaders

How is Community Service Good for Business?

Attracting and retaining talented individuals is a challenge faced by many, if not most, businesses and increasingly it is the ‘intangibles’ you offer that can make all the difference.

The Number 1 Rule of Big Data For Decision Makers

The use of Big Data and data analysis holds a great deal of potential for businesses. Businesses have forever been collecting information about the behaviour, demographics, purchase patterns, and buying preferences of customers.

How to innovate through encouraging failure

Innovation is the lifeblood of the digital economy. In today’s digital economy business leaders need to adapt quickly to changing customer needs by embracing new technologies and adopting new ways of working.

Autonomy trumps command and control in the digital age

Historically, business models which were created to enable efficiency and cost effectiveness resulted in the formation of complicated and siloed organisations, often with vast formal and informal inte