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

14 Dec 2018

SPECIAL REPORT: BGC Australia and Perron Group are going through changes that all family-owned businesses face, large or small.

Synergy

Signs point to coal closures

14 Dec 2018

Older coal fired power stations such as Synergy’s Muja C&D could begin closing in 2023, driven by changing market dynamics, while harsher carbon policies would accelerate shutdowns, according to a recent report by the Australian Energy Market Operator.

Mark my words podcast

14 Dec 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss Stan Perron, our update on major WA projects — some going ahead, some not — Westport, the space agency, lobster quotas, and our person of the year feature.

GIC Real Estate

Offshore buyers, institutions drive office sales near $1bn

14 Dec 2018

Australian institutional investors and offshore property powerhouses sharpened their focus on potential upside in Perth’s office market in 2018, as the total value of transactions approached $1 billion.

Blackburne

Blackburnes’ lasting legacy on Perth property

14 Dec 2018

SPECIAL REPORT: Paul, Nathan and John Blackburne are proving that they don’t have to work for the same company to leave a family legacy in Perth’s property industry.

Market Charts View all

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Corporate Finance DealsView all

Lateral Capital Ventures

Lateral raises $7.3m for Soar, Unocar

Transaction Solutions International

14 Dec 2018

Tommy Shin-led Lateral Capital Ventures has secured funding for two Perth-based startups, led by a $6.8 million raising for blockchain platform Soar.

TSI in $8.6m purchase

13 Dec 2018

Local tech company Transaction Solutions International has acquired a Sydney-based cloud management business in a deal worth $8.6 million.

P&N Bank

P&N ponders $6bn tie-up

13 Dec 2018

P&N Bank is considering a merger with regional east coast credit union bcu, which is about half the size of the Perth-based lender, to form a combined group with a $6 billion asset base and 150,000 customers across the country.

Empired

HeraMED launches on ASX

12 Dec 2018

Israeli tech company HeraMED, which is commercialising a home pregnancy monitoring device, started trading on the ASX today, after raising $6 million via an initial public offering.

Macquarie Capital

BGC appoints Macquarie Capital

03 Dec 2018

The planned sale of BGC Australia has taken another step forward with the appointment of investment bank Macquarie Capital as corporate adviser to the family-owned business.

This week's most viewedView all

Govt sells $48m of foreign-owned property in WA

10 Dec 2018

The federal government has forced the sale of 30 properties in Western Australia worth nearly $50 million, which were illegally acquired by foreign nationals since 2015.

Perron Group

Perron pledges billions to charity

13 Dec 2018

Perron Group has announced key board appointments after the passing of its founder Stan Perron and disclosed the “greater majority” of its $4 billion in net assets will be donated to charity.

CFC Group

CFC posts $18m profit in FY18

12 Dec 2018

Diversified family business CFC Group has registered a big jump in profit for the 2018 financial year, aided by strong performances across its three primary operations.

McGowan reshuffles cabinet

13 Dec 2018

Premier Mark McGowan has reallocated six portfolios within his cabinet, including the energy portfolio being transferred from Treasurer Ben Wyatt to Mines and Petroleum Minister Bill Johnston.

CITIC Pacific Mining

Powerful players pressure premier

Tim Treadgold

11 Dec 2018

Opinion: Two high-profile billionaires have the state government in their sights, and Premier Mark McGowan has some tough decisions ahead.

Politics & the EconomyView all

McGowan reshuffles cabinet

13 Dec 2018

Premier Mark McGowan has reallocated six portfolios within his cabinet, including the energy portfolio being transferred from Treasurer Ben Wyatt to Mines and Petroleum Minister Bill Johnston.

Fremantle Ports

Freight links still key for Freo port future

12 Dec 2018

Fremantle’s port has room to grow container trade, possibly for three decades, according to a new report by the state government’s Westport taskforce, but freight infrastructure improvements are needed in the short term at Fremantle, Bunbury and Kwinana.

WA misses out on space station

Urban Development Institute of Australia WA

12 Dec 2018

The state government has voiced its frustration at the Commonwealth’s decision to choose Adelaide as the home of Australia’s $41 million space agency.

WA accepts $121m remote housing deal

AAP Business News

07 Dec 2018

The state government has reluctantly accepted an improved offer from the Commonwealth for remote housing funding.

Housing, red tape focus as state budget lifts

06 Dec 2018

The state budget will be in surplus in 2019/20, according to Premier Mark McGowan, while a $421 million expansion of the Keystart program for first homebuyers and a move to reduce red tape will be two new policies to support the local economy.

PropertyView all

GIC Real Estate

Offshore buyers, institutions drive office sales near $1bn

14 Dec 2018

JLL

Singapore's GIC adds Exchange Tower to Australian portfolio

13 Dec 2018

Singapore’s GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.

Old school cool in new Northbridge

13 Dec 2018

Graham Hardie is continuing to evolve his entertainment empire after nearly four decades in Northbridge hospitality.

Westforce Construction

Westforce in $4.2m property spend

Housing Industry Association

12 Dec 2018

Engineering contractor Westforce Construction has purchased two adjoining properties in Welshpool for $4.2 million, as the company plans to expand its business.

WA housing lags nation: HIA

12 Dec 2018

Western Australia has the worst residential building conditions in the country, according to a new report from the Housing Industry Association.

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 Jan 2019 | @ 08:00am

Get Amplified Session - How to Explode Your Business in 2019

29 Jan 2019 | @ 06:00pm

Michael Mosley Fast 800 Tour

31 Jan 2019 | @ 08:00am

The CEO Summit

08 Feb 2019 | @ 07:00pm

Carbon's Annual Big Poker Night!

15 Feb 2019 | @ 12:00pm

UDIA WA: Perth in a Global Context - Politics and the Economy with Jonathan Pain

17 Feb 2019 | @ 10:00am

Wedding Open Day

23 Feb 2019 | @ 06:00am

MSWA Albany Ride

27 Feb 2019 | @ 05:30pm

Directors Briefing: Are you part of the innovation revolution?

13 Mar 2019 | @ 06:30pm

40under40 Awards 2019

14 Mar 2019 | @ 09:00am

Tom Peters - The Excellence Dividend Seminar

Arts & CommunityView all

Perron Group

Perron pledges billions to charity

Nulsen Disability Services

13 Dec 2018

Perron Group has announced key board appointments after the passing of its founder Stan Perron and disclosed the “greater majority” of its $4 billion in net assets will be donated to charity.

Nulsen, Outcare announce merger

11 Dec 2018

Two Western Australian charities have announced plans to join forces next year, creating a major new player in the sector.

WA Symphony Orchestra

New leadership for WASO, WAAPA

07 Dec 2018

Two major arts companies have today announced new leadership, with the WA Symphony Orchestra appointing Mark Coughlan as chief executive and the Western Australian Academy of Performing Arts naming David Shirley as executive dean.

Fremantle Arts Centre

Contemporary music a catch for Freo Arts

06 Dec 2018

Fremantle Arts Centre has developed a diverse range of revenue streams, including contemporary music and arts training courses, to fund local artists.

Rocky Bay

Rocky Bay expands disability focus

30 Nov 2018

Disability service provider Rocky Bay has navigated its second not-for-profit acquisition, as it makes the move towards extensive infrastructure redevelopment.

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

Synergy

Signs point to coal closures

14 Dec 2018

BHP Group

Alcoa locks in gas supply

12 Dec 2018

Alumina producer Alcoa of Australia has signed three supply deals with BHP Group, Woodside Petroleum and Chevron to provide about 23 petajoules of gas between them annually from 2020 for its Western Australian refineries.

Perdaman Industries

SNC-Lavalin wins Perdaman contract

Royal Automobile Club of WA

21 Nov 2018

Vikas Rambal’s Perdaman Industries has signed up Canadian engineering company SNC Lavalin as lead contractor on its $4 billion Karratha urea project, one day after announcing a gas supply deal with Woodside Petroleum.

RAC invests in $15m EV chargers

22 Oct 2018

The Royal Automobile Club of WA has invested in Sydney-based Chargefox’s $15 million rollout of electric vehicle charging stations across Australia, which includes two in Perth.

Woodside Petroleum

Woodside, ENN pursuing options

22 Oct 2018

Woodside Petroleum has signed a cooperation agreement with Chinese gas company ENN, while it is continuing work on the Scarborough, Browse and Pluto projects.

"Mark My Words" PodcastsView all

14 December 2018

07 December 2018

PODCAST: Mark Pownall and Mark Beyer discuss property development challenges, weak housing market, Fast Brick Robotics (FBR), subcontractor protections, and our special report on Business Dynasties, including the Buckeridge, Perron, and Blackburne families.

30 November 2018

PODCAST: Mark Pownall and Mark Beyer discuss the Rio Tinto expansion, fracking move, Rob Scott, Eastern Goldfields, Stan Perron and our special report on CEO salaries.

23 November 2018

PODCAST: In this podcast Mark Pownall and Dan Wilkie discuss lithium deals, apartment projects, housing construction, Perdaman contracts, and our special report on wealth creators.

16 November 2018

PODCAST: Mark Pownall and Mark Beyer discuss the Navitas takeover, Karrinyup expansion, Belmont Park apartments, GST changes, Woodside's future, Wesfarmers demerger, and our look back at the past 25 years, including our special report on WA's biggest employers.

Food & WineView all

Chevron

New Normal for restaurant waste

29 Nov 2018

A small bar in Subiaco is demonstrating the benefits to business of developing more efficient waste management practices.

WA Insolvency Solutions

New owner for Beach Bar

Shire of Augusta-Margaret River

16 Nov 2018

Scarborough Beach Bar has been thrown a lifeline, with insolvency specialist WA Insolvency Solutions selling the company to hospitality operator the ARK Group, which currently operates venues including The Generous Squire and Market Grounds.

Settlers Tavern finds growth formula

Cassandra Charlick

06 Nov 2018

Never settling for second best, a hardworking couple has spent the past 15 years transforming Margaret River’s local pub, Settlers Tavern, into a venue of national note.

Xanadu Wines

Xanadu wins top gong

19 Oct 2018

Margaret River-based Xanadu Wines has claimed the coveted Jimmy Watson Memorial Trophy at the Royal Melbourne Wine Awards, which were held last night.

Paul Conti Wines

Small fish expanding the gin pool

17 Oct 2018

WA gin distillers Grumpy Fish and The West Winds Gin are taking small steps in a crowded market, using local flavours and sustainable techniques to attract lovers of the spirit.

Special ReportsView all

WA Business Dynasties 2018

14 December 2018

Blackburnes leaving lasting legacy in Perth property

Blackburnes’ lasting legacy on Perth property

Dan Wilkie 14 Dec 2018

Success is one thing, smooth succession quite another

Mark Beyer 14 Dec 2018

CEO salary survey 2018

03 December 2018

Our annual survey highlights new trends

Drop in million-dollar club

Mark Beyer 03 Dec 2018

Ellison earns $4.7m, or is it $2.4m?

Mark Beyer 03 Dec 2018

Wealth creators 2018

27 November 2018

Mixed results for WA's wealthiest

Perron Group set up for long haul

Mark Beyer 26 Nov 2018

Mixed year for WA's wealth creators

Dan Wilkie 27 Nov 2018

Commitment pays for Sayers, Tomasi

Dan Wilkie 27 Nov 2018

Fund Managers 2018

05 November 2018

New strategies to deliver returns

Commercial property 2018

29 October 2018

Foreign buyers lift market share

Perth office market absorbs foreign funds

Peter Kermode 29 Oct 2018

Brookfield builds for the future

Peter Kermode 29 Oct 2018

Sirona positive on Perth growth

Peter Kermode 29 Oct 2018

MiningView all

Birimian

Birimian plans $8.2m raising, reviews business

14 Dec 2018

Subiaco-based Birimian has announced plans to raise $8.2 million for its Goulamina project in Mali, while the lithium aspirant also flagged a business review and two separate agreements with Chinese companies.

Explaurum

Tampia capex falls to $111m

14 Dec 2018

A revised feasibility study released by Explaurum has detailed a reduced capital cost of $111 million for its Tampia project in the Wheatbelt, as Ramelius Resources increased its stake in the gold explorer to 20 per cent.

Capricorn Metals

Capricorn secures $107m debt deal

13 Dec 2018

Gold aspirant Capricorn Metals has locked in a $107 million debt package, while Subiaco-based TNG has appointed a German bank to lead a $US600 million ($850 million) debt raising.

Ramelius Resources

Ramelius adds cash to Explaurum offer

13 Dec 2018

Ramelius Resources has revised its hostile takeover offer for gold-focused Explaurum, adding a 2 cents per share sweetener to its original deal.

CFC Group

CFC posts $18m profit in FY18

12 Dec 2018

Diversified family business CFC Group has registered a big jump in profit for the 2018 financial year, aided by strong performances across its three primary operations.

Current IssueView all

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Issue for 22 Oct 2018 to 04 Nov 2018

Issue for 08 Oct 2018 to 21 Oct 2018

OpinionView all

Mark my words podcast

Committee for Economic Development of Australia

14 Dec 2018

Curbing wild election promises

Peter Kennedy

14 Dec 2018

Opinion: With the government seemingly on track to delivery a budget surplus, one key aspect of the Langoulant review is worth another look.

Woodside Petroleum

Telling lack of local investment

Mark Pownall

13 Dec 2018

Opinion: WA punches well above its weight in terms of technical and operational skills, but our manufacturers could do with a bit more hometown support.

CITIC Pacific Mining

Powerful players pressure premier

Tim Treadgold

11 Dec 2018

Opinion: Two high-profile billionaires have the state government in their sights, and Premier Mark McGowan has some tough decisions ahead.

Mark my words podcast

Mark Pownall

07 Dec 2018

RetailView all

Wesfarmers

Wesfarmers nabs M&A expert for board

AAP

14 Dec 2018

Wesfarmers has appointed mergers and acquisitions expert Mike Roche to its board as it seeks out fresh opportunities, after offloading Coles and exiting the UK hardware market.

Wesfarmers

Scott embraces disruption at Wesfarmers

03 Dec 2018

Disruption, a demerger and divestments are shaping Wesfarmers’ long-term approach to growth, managing director Rob Scott told last week’s Success & Leadership breakfast.

KordaMentha

Laura Ashley enters administration again

AAP

03 Dec 2018

Laura Ashley has been placed in administration for a second time, falling victim to the same forces that have claimed a raft of Australian retailers.

Wesfarmers

Bunnings UK sell-off still stings Wesfarmers CEO Scott

Property Council of Australia

27 Nov 2018

Wesfarmers chief executive Rob Scott says while decisions to sell out of Bunnings’ loss-making operations in the UK and Ireland, and to demerge supermarkets giant Coles, were easy in a commercial sense, the Bunnings move in particular proved taxing on an emotional level.

Myer

Myer completes refinancing, AGM looms

AAP

26 Nov 2018

The embattled Myer board has made a fresh pitch to shareholders ahead of a likely explosive annual general meeting on Friday, declaring the completion of its refinancing was a vote of confidence.

SkylineView all

Property Council cautiously backs noise reforms

20 Sep 2018

The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.

BGC Australia

Hibernian Place tops UDIA awards

17 Sep 2018

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

CBRE

Regus takes space at new Raine Square office

Peter Kermode

14 Sep 2018

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Linc Property

Access key at Linc industrial estate

Peter Kermode

12 Sep 2018

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

Sirona Capital

The Village Margaret River on the market

Peter Kermode

05 Sep 2018

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

Bulls N' BearsView all

Australian Potash

WA rental rate cut will benefit Australian Potash

14 Dec 2018

Australian Potash is set to benefit from a hefty reduction in WA State Government rental rates for potash brine projects as part of an initiative to help develop a new industry in the state. From the new year, rental rates for brine mining leases will be slashed from $18.70 per hectare to just $2.32 per hectare for the first five years before rising to $4.64 per hectare from the sixth year onwards.

Novo continues Pilbara gold exploration push

14 Dec 2018

Conglomerate gold developer Novo Resources continues to progress exploration and resource development activity for its large tenement holdings in WA’s Pilbara region. At the Egina project, bulk samples of gold-bearing gravels are being processed through the company’s gravity gold plant on-site, whilst progress on other work programs was reported for the Karratha, Beatons Creek and Talga Talga gold projects.

TNG

TNG appoints German bank to lead debt raising efforts

13 Dec 2018

TNG Ltd has appointed Germany’s KfW IPEX-Bank to lead a syndicate that will raise USD$600m to underpin development of its Mount Peake vanadium-titanium-iron project in the Northern Territory. The final capital requirements will be determined and optimised during the ongoing front end engineering and design study and lender’s due diligence.

Venus Metals Corporation

Venus to update Youanmi vanadium oxide resources

13 Dec 2018

Venus Metals has completed a detailed resource definition drilling program at its Youanmi vanadium oxide project near Sandstone in WA, in preparation for updating the mineral resource estimate for the deposit. The work will allow the company to convert a large part of the existing inferred resource into measured and indicated oxide resources, from which ore reserves can then be optimised.

Metalicity

Metalicity defines targets for new Pilbara copper play