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

Corporate Finance DealsView all

Wesfarmers abandons costly UK move

Wesfarmers has sold its struggling Homebase business for a nominal sum, with managing director Rob Scott confirming the UK hardware company has cost the conglomerate about $1.3 billion.

ClearVue set for ASX debut after $5m IPO

Specialist glass company ClearVue Technologies will commence trading on the ASX tomorrow after raising $5 million via an initial public offering.

Sydney investor buys National Lifestyle Villages

Sydney-based investor Rob Nichols has teamed up with Singapore-based investment fund GIC to buy the assets of Perth company National Lifestyle Villages following a review led by Sirona Capital director Kelvin Flynn, who has run NLV since October last year.

De Grey in $6m raising

De Grey Mining has raised $6 million, with ASX-listed DGO Gold investing $5 million in the placement, to expand exploration work at the company’s Pilbara gold project.

Battery hopefuls pick up $50m

Two Western Australian mining juniors focused on battery-related commodities have secured $50 million to advance their projects in Africa.

Most CommentedView all

Lounge offers business connections

The Small Business Lounge on Mount Hawthorn’s Oxford Street is just the first step for founder Brooke Arnott, who plans to take the advisory concept nation wide.

Dunsborough Puma developer has court win

The proponents of a Puma Energy development on Dunsborough’s main street had a win in the Supreme Court yesterday, but the issue is far from settled according to a local advocacy group against the proposal.

Golden Group starts work at Belmont Park

Fives years after unveiling its vision for high-rise apartments at Belmont Park Racecourse, Golden Group will host a groundbreaking ceremony at the site today.

Kidman JV selects Kwinana for refinery

Kwinana has been selected as the site for what is likely to be the fourth lithium refinery in Western Australia, with investment in the boom sector estimated to exceed $4 billion in the next few years.

Grandage selected to lead Perth Festival

For the first time in its 65-year history, Perth Festival has appointed a home-grown artistic director, Iain Grandage, whose creative vision will be executed across a four-year tenure starting in 2020.

Politics & the EconomyView all

WA Labor candidate quits after week of scrutiny

Labor's candidate for the Western Australian state seat of Darling Range has resigned after a week of having her credibility and study history questioned.

July 28 is the preferred by-elections date

Voters in two WA federal seats will likely go to by-elections on July 28 to avoid school holidays and await new rules for candidates.

Company tax holding Australia back

High company taxes are one of the biggest impediments to Australia’s economic success, according to the latest global competitiveness index by Swiss business school IMD, although improving infrastructure and government efficiency have helped boost the country’s overall rating.

Perth city-to-stadium footbridge delayed

The long-delayed footbridge linking East Perth to Optus Stadium will not be ready by the end of May despite previous assurances by the McGowan government.

Hanson rejects tax cut plan

Federal Labor is demanding the Turnbull government hand over details of the deal it struck with Pauline Hanson to get her support to cut business taxes, a pact One Nation is now reneging on.

Upcoming Business News EventsView all

Beaumonde On The Point (upstairs ballroom and function centre), 306 Riverside Drive, East Perth - 27 June 2018

PropertyView all

Property group wants Metronet broadened

Broadening the scope of the state government's Metronet rail project to include existing station precincts as a means to deliver short-term development opportunities was among the key recommendations outlined in an Urbis report released today.

BGC among WA’s largest private businesses

BGC Australia is one of the state’s largest and most diverse business groups, with revenue last financial year in excess of $2 billion from its building, construction, property, contracting, trucking and manufacturing operations.

BGC up for sale

BGC Australia director Sam Buckeridge announced this afternoon that the sprawling property and construction empire built by his late father Len Buckeridge is being prepared for sale.

Peet confirmed for Swan Valley project

Perth-based Peet has confirmed its appointment by the state government as the developer for the Brabham housing project near the Swan Valley.

Development potential for Northbridge site

A prime site in Northbridge, located on William Street opposite Yagan Square and Perth City Link and earmarked for a multi-tower mixed-use development, has been listed for sale.

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

Rose sales drive funds for Cystic Fibrosis

Cystic Fibrosis WA is calling on volunteers and businesses across the state to help the charity raise $75,000 this Friday as part of its annual ’65 Roses Day’.

Hemsley heads AGWA Foundation

Property consultant Warwick Hemsley has replaced Adrian Fini as the Art Gallery of WA Foundation chair after four years at the helm.

$17m of AGWA collection at risk of damage

The auditor general of Western Australia has found about 785 artworks of the state’s $300 million collection is at risk of damage or loss due to inadequate storage, conservation and monitoring by the Art Gallery of WA.

Community culture works for WASO

WA Symphony Orchestra has deep roots planted firmly across Western Australia, having spent 90 years connecting with communities beyond its core audience of classical music aficionados.

Pica showcases emerging artists

Perth Institute of Contemporary Arts will launch its 27th Hatched: National Graduate Show this Friday night, showcasing 30 new graduates from across the country, including five local artists.

EnergyView all

Battery plant rumoured for Wesfarmers

Interest is growing in Kwinana as a possible battery manufacturing hub, with Wesfarmers mooted to be considering a move into the sector and representatives from US electric car manufacturer Tesla in Perth to meet with Premier Mark McGowan today.

Schneider Electric positive on WA

Global company Schneider Electric anticipates continued strong trading in Western Australia, helped by work on established resources projects, new lithium developments and its Clipsal business.

AGL rejects Alinta's $250m Liddell bid

AGL has knocked back Alinta Energy's $250 million offer to buy Liddell Power Station and reaffirmed its decision to close the plant in 2022.

New Burrup projects aim to defy history

Two groups aspiring to build gas processing projects on the Burrup Peninsula are aiming to fare better than many others have in the environmentally sensitive area.

ERA tightening to reduce power price pressure

State-owned Western Power will need to trim operating costs by about $100 million more than planned over the next five years under the Economic Regulation Authority’s latest draft access arrangements released last night.

"Mark My Words" PodcastsView all

25 May 2018

PODCAST: In this Business News podcast Mark Pownall and Mark Beyer discuss BGC, Wesfarmers, National Lifestyle Villages, battery plant speculation, blockchain, and our special report is information and communications technology.

18 May 2018

PODCAST: Mark Pownall and Mark Beyer discuss defence contracts, LNG developments, high density housing, master entrepreneurs, The West Australian, lithium and our special report on philanthropy.

11 May 2018

PODCAST: Mark Beyer and Mark Pownall discuss the state and federal budgets, three byelections in WA (or maybe four), regulator activity, and our special report this week is the wine industry.

07 May 2018

Former Fortescue Metals Group CEO Nev Power’s new career as a non-executive director has started with Perth Airport.

04 May 2018

PODCAST: Mark Beyer and Mark Pownall discuss Belmont Park apartments, Lithium projects, Fringe Festival, Chris Sutherland, and BN's special report on universities.

Food & WineView all

WA brewery tops international competition

The local beer label behind Northbridge Brewing Company and Whitfords Brewing Company has won the top prize at Australia’s most renowned beer competition, hosted in Melbourne last night.

King of Queen Street lifts veil on new Moroccan bar

With the outlook for the small bar sector becoming more positive, hospitality entrepreneur Andy Freeman has embarked on a $2 million Moroccan-themed venue in Perth’s east end.

Tiny’s brings big energy to QV1

A new bar at Perth’s QV1 is aiming to make a big splash in Perth’s west end.

Perth first choice for Aloha Poké

Perth’s up-and-coming healthy food market was one of the factors that drew Singaporean restaurant chain Aloha Poké to the Western Australian capital, with its first international outlet opening at St Martin’s Centre in the CBD two weeks ago.

Stadium sales lift Gage Roads

Shares in Gage Roads Brewing Company have jumped today after the company posted impressive quarterly results, driven by strong sales at Optus Stadium.

MiningView all

Court orders freezing of Palmer assets

A Queensland court has ordered the freezing of hundreds of millions of dollars of Clive Palmer's assets.

Ausdrill JV secures $US211m contract

A joint venture between Ausdrill and Barminco has secured a mining services contract worth $US211 million ($280 million) for the Siou mine in Burkina Faso.

Rinehart and Forrest top WA rich listers

Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation’s wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.

Perilya, Creasy invest $19m in Myanmar

Chinese-owned mining company Perilya will take a 20 per cent stake in Myanmar Metals as part of a planned capital raising worth up to $35 million to fund its share of the Bawdwin base metals project.

McGowan sets up lithium taskforce

Moves to encourage downstream lithium processing in Western Australia continued today, with the state government announcing a taskforce to develop a strategy for the sector.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Pownall and Mark Beyer discuss BGC, Wesfarmers, National Lifestyle Villages, battery plant speculation, blockchain, and our special report is information and communications technology.

Good leaders inspire their teams

Managers can encourage or discourage sales with their policies and actions, so what makes a great sales manager?

Concerns for local lithium if Musk’s Tesla tanks

Recent comments by Tesla’s Elon Musk, and his company’s price dive immediately after, will be of interest to the state’s lithium miners.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss defence contracts, LNG developments, high density housing, master entrepreneurs, The West Australian, lithium and our special report on philanthropy.

Liberal move divides party

The GST is a potential sleeper issue as WA heads to three by-elections.

RetailView all

Westfield shareholders approve takeover

Westfield Corporation shareholders have voted in favour of a $33 billion takeover by Paris property giant Unibail-Rodamco, marking the end of an era for the Lowy family.

Myer blames warm weather for profit woes

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Woolies' Q3 sales growth surpasses Coles'

Woolworths has outpaced rival Coles' sales growth for a sixth consecutive quarter.

Wesfarmers leadership changes

Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.

Retail sector feeling the heat

Analysis: The franchising model could become the latest victim of the pressure being heaped on the retail sector.

Most viewed people

Julian Ambrose

Julian Ambrose

Director, BGC Australia
Director, BGC Contracting

John Poynton

John Poynton

Director, Linc Property
Non-Executive Chairman, Giving West
Council Chairman, Christ Church Grammar School
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Jindalee Partners
Non-Executive Director, Crown Perth
Non-Executive Chairman, Strike Energy
Board of Guardians, Future Fund

Andrew Teo

Andrew Teo

Non-Executive Chair (since 2015)
(Executive Chair 2013-2015), Medusa Mining
Non-Executive Director, BGC Australia
Director, BGC Contracting

Andrew Buckeridge

Andrew Buckeridge

Director, BGC Australia
Director, BGC Contracting

David Sek Yin Tan

David Sek Yin Tan

Former Non-Executive Director, PLC Financial Solutions

Thought LeadershipView all

The Evolution of Disaster Recovery: Achieving IT Resiliency

The backup and recovery strategy that forms the backbone of IT resiliency has come a long way in the last twenty years. IT teams have evolved from preserving and protecting company data on tape systems, and there is an increasing realisation that in-house data centres act as a single point of failure.

Industry, Tertiary Education and Government: is the DNA of WA life a Triple Helix?

It’s long been acknowledged that the interrelationship between industry, tertiary education and training providers and government can either help or hinder innovation in a society, depending on how th

Do you want the Lamborghini, the Hyundai or the Bicycle … of salary benchmarking?

Salary benchmarking can be as illuminating for businesses as it is for employees.

Empower your team with Digital

A workplace is no longer the physical office space or place of work, it is wherever work takes place. Network barriers, organisational silos, lack of knowledge sharing, restrictive work practices

Financial Counselling - An Integrated Response

Members and volunteers are at the core of the work that Vinnies does, and last financial year these remarkable people assisted over 38,000 Western Australians.