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

Corporate Finance DealsView all

ACCC approves Quadrant takeover

The competition watchdog has cleared Santos’ planned $2.9 billion takeover of Quadrant Energy despite concerns from some businesses in the Goldfields region about reduced competition for gas supplies.

Cycliq to raise up to $2m

Perth-based Cycliq has announced plans to raise up to $2 million as the cycling products developer ramps-up its business in the lead up to Christmas.

Healthscope opens books to $4.5bn offer

Healthscope has opened its books to Brookfield Capital Partners after the private equity firm made a $4.5 billion play for the private hospital operator, trumping a rival offer already on the table.

Navitas rejects $2bn takeover

The board of Navitas has rebuffed a $2 billion takeover offer from a consortium of investors, which includes co-founder Rod Jones, saying the deal is well below its valuation of the education services company.

Woolies sells fuel stations in $1.7bn deal

Woolworths has announced the sale of its 540 petrol stations to UK-based EG Group for $1.73 billion, months after BP pulled out of a deal to buy the fuel business.

Politics & the EconomyView all

Major shifts at top of biggest employers list

ANNIVERSARY SPECIAL: The annual Business News Biggest Employers survey has tracked changing employment patterns in WA over 13 years. This article is part of a special series to mark Business News' 25-year anniversary.

WA unemployment rate dips to 5.7%

Western Australia’s jobless rate has fallen to 5.7 per cent in October, while the national figure remains at a six-year low.

WA wages growth slow

Wages growth in Western Australia is lagging the country, with ABS data showing the state's wages increased just 1.6 per cent year on year, compared with a national increase of 2.3 per cent.

WA to pay down debt with GST windfall

The state government has confirmed it will use an estimated $1.7 billion GST windfall to pay down its debts, after the legislation cleared federal parliament today.

New CEO for City of Perth

The commissioners running the City of Perth have appointed an acting chief executive, with local government consultant Murray Jorgensen set to take the reins.

Upcoming Business News EventsView all

PropertyView all

Cedar Woods builds beyond Perth base

ANNIVERSARY SPECIAL: While half of Cedar Woods’ 30 projects are in its home state of WA, the company has taken opportunities in Victoria, Queensland and SA. This article is part of a special series to mark Business News' 25-year anniversary.

Commercial sector cycles as home builds stumble

ANNIVERSARY SPECIAL: As Australia was emerging from the recession it had to have in 1991 and 1992, the commercial construction sector in Western Australia was at the tail end of a boom that would add 200,000 square metres of office space to the Perth CBD. This article is part of a special series to mark Business News' 25-year anniversary.

Multiplex still building post buyout

ANNIVERSARY SPECIAL: A return to its original branding is indicative of construction veteran Multiplex’s standing in the WA marketplace and solid client relationships. This article is part of a special series to mark Business News' 25-year anniversary.

Green light for Karrinyup shopping centre development

AMP Capital will begin a long-awaited $800 million development at Karrinyup Shopping Centre next week, increasing the size of the centre from about 60,000sqm to almost 110,000sqm.

Swedish construction firm enters WA market

Swedish construction company Serneke Group, which has annual turnover of $940 million, has established a foothold in the local market by purchasing an equity stake in Nedlands firm Consortium Builders.

Arts & CommunityView all

Picabar gets ministerial reprieve

Northbridge venue Picabar may have been granted a reprieve, after intervention by Culture and Arts Minister David Templeman that will grant Picabar first preference in lease negotiations.

Youth Focus announces new CEO

Charity chief executive Arthur Papakotsias has been appointed the new chief executive of Youth Focus, replacing the outgoing Fiona Kalaf.

Theatre Trust leads big changes

Duncan Ord is overseeing major changes to the way in which the Perth Theatre Trust manages arts venues and the Perth Cultural Centre.

Telling tales at Linton & Kay

Perth artist Leon Pericles will tomorrow launch a major art exhibition of more than 400 works at Linton & Kay Galleries in West Perth, which will run until November 23.

Magadza’s vision for arts direction

More than a decade spent working with international arts festivals in Perth and New Zealand has given Shelagh Magadza a unique insight into how culture and the arts reflect the societies in which they exist.

EnergyView all

RAC invests in $15m EV chargers

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, ENN pursuing options

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

Govt seeking more info on waste project

Just hours after the developers of a $670 million waste-to-energy project announced they planned to start construction after obtaining all necessary approvals, the state government disclosed it has asked the Environmental Protection Authority to conduct further investigations.

$670m waste-to-energy project to proceed

Construction of Australia’s first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

Coal powers ahead amid political pressure

As the key commodity soars on healthy demand in Asia, big Australian companies may be rueing decisions to offload valuable coalmining assets in the face of intense opposition.

"Mark My Words" PodcastsView all

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.

09 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the BHP derailment, lithium plant approval, North West Shelf Gas agreements, construction news, hotel developments, PEXA sale, and our special report on WA's innovation awards.

02 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

26 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss market volatility, young rich, gaming fortunes, property taxes, fraud cases, Cisco and our special report on commercial property.

19 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss waste-to-energy development, Port Hedland property, Airbnb regulations, unemployment, tech listings, and our special report on WA's biggest exporters.

Food & WineView all

New owner for Beach Bar

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

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 wins top gong

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

Small fish expanding the gin pool

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.

Regional restaurants beat Perth in Food Guide

Regional restaurants have received the top accolades in Western Australia, as the national Good Food Guide released its 2019 edition.

Special ReportsView all

Fund Managers 2018

Fund Managers 2018

05 November 2018

New strategies to deliver returns

Funds grow as dynamic shifts
Ibaera filling a funding niche
NWQ making volatility work
Commercial property 2018

Commercial property 2018

29 October 2018

Foreign buyers lift market share

Perth office market absorbs foreign funds
Brookfield builds for the future
Sirona positive on Perth growth
Biggest Exporters 2018

Biggest Exporters 2018

22 October 2018

Rio Tinto leads our updated rankings

Exports jump as outlook improves
Mid-tier miners iron out positions
Agribusiness chews on challenges
Corporate finance September 2018

Corporate finance September 2018

08 October 2018

Review of September quarter deals.

Gold revival boosts deal flow
Mining, energy take IPO reins

MiningView all

BHP reveals multiple braking failures on ore train

BHP Billiton has disclosed that the driver of last week’s runaway iron ore train failed to engage the emergency air brake after getting out to check on a problem with another part of the braking system.

NRW wins $500m extension

Belmont-based NRW Holdings has secured a five-year contract extension for mining services at Stanmore Coal’s Isaac Plains East project in Queensland.

GR, Adaman to lead mining studies

GR Engineering Services has been appointed to lead a bankable feasibility study for FYI Resources, while Adaman Resources will complete a mining study for Neometals’ Barrambie vanadium project.

Diatreme progresses Cyclone zircon project

Mineral sands hopeful Diatreme Resources has released a positive definitive feasibility study for its Cyclone zircon project, located in the Eucla Basin in Western Australia.

Vimy Resources announces major restructure

Uranium explorer Vimy Resources has announced a major restructuring, including the resignation of three directors, further cost-cutting and a focus on its base metals project.

OpinionView all

Mark my words podcast

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.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the BHP derailment, lithium plant approval, North West Shelf Gas agreements, construction news, hotel developments, PEXA sale, and our special report on WA's innovation awards.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

Bold choices required to secure prosperity

Opinion: A Committee for Perth report says the WA capital has dropped the ball, and lacks a strategy for its economic future.

Align interests with outcomes

Opinion: Why not align private sector tax cuts to cost-effectively improving the performance of education and health?

RetailView all

Tommy Hilfiger opens Perth store

International designer clothing brand Tommy Hilfiger has today opened its first full-price store in Western Australia, with a new outlet located in the Claremont Quarter.

Roger David menswear closing down

Roger David, which operates eight stores across Perth, is closing down after 76 years of business, with the menswear retailer collapsing in the face of competition from international and online rivals.

Retail reward for Quick Flick

A retail deal with Priceline Pharmacy is the latest win for local makeup business The Quick Flick, which was launched last year by Perth university student turned entrepreneur Iris Smit.

SCA in $270m Perth shopping spree

Sydney-based SCA Property Group has purchased four Perth shopping centres for a combined $269.4 million as part of a larger deal with ASX-listed Vicinity Centres.

DVG owner expands to east coast

Three years after taking a majority stake in Perth company DVG Automotive Group, Japanese outfit IDOM has made its first move into the east coast car market, purchasing Melbourne-based Andrews & Wallis Motor Group.

SkylineView all

Skyline

Property Council cautiously backs noise reforms

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.

Hibernian Place tops UDIA awards

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.

Regus takes space at new Raine Square office

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

Access key at Linc industrial estate

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

The Village Margaret River on the market

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

Bulls N' Bears

Neometals kicks off DFS update for Barrambie

Neometals Ltd has commenced an update of its 2009 DFS for the Barrambie vanadium-titanium-magnetite project located near Sandstone in WA, citing a 4-fold increase in vanadium prices since that initial study was conducted. The update will examine development options including offshore processing of the crushed ores, onsite production of a high-grade concentrate for direct sale and potential refining opportunities to generate premium vanadium chemicals.

Metalicity enters Fraser Range

Metalicity Limited has secured nearly 650 square kilometres of prospective looking nickel-copper-gold exploration tenements over two projects in the sought after Fraser Range region in southern WA. The new projects are surrounded by operating mines and significant mineral occurrences. The company is selling off its zinc and lithium interests in WA as it shifts focus towards copper, nickel, cobalt and gold exploration.

Sky and Space signs MoUs with Brazilian telcos

Sky and Space Global has signed binding MoUs with Brazilian telcos Inovsat Telecom and AltaRede Corporation to determine how its nano-satellites can increase the reliability, accessibility and affordability of their telecommunications services. The company expects to convert both MoUs into definitive agreements with commercial terms following the launch of the first batch of Pearls nano-satellites in 2019.

Bellevue to rapidly expand gold exploration in 2019

Fresh from its recent exploration success at the old Bellevue gold mine, Bellevue Gold now has its tail in the air with a successful $15m capital raise under its belt and a big exploration program ahead of it. The company has detailed a plan to ramp up exploration on several near mine targets at its namesake project near Leinster in WA.

Alterra to demerge carbon forestry business

ASX listed Alterra is taking a page out of Wesfarmers’ playbook with a proposal to demerge its carbon forestry business and focus on the development of its agribusiness projects. The move is expected to realise the full value of the carbon business and generate a potential windfall to shareholders who will now own 85% of the carbon business in their own right whilst retaining their Alterra shares.

Most viewed people

Andrew Sugiaputra

Andrew Sugiaputra

Managing Director, Golden Group

John Poynton

John Poynton

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
Executive Chair, Sapien Cyber

Erik Palmbachs

Erik Palmbachs

Chief Financial Officer, Cardinal Resources

Murray Jorgensen

Murray Jorgensen

A/Chief Executive Officer, City of Perth

Damien Marantelli

Damien Marantelli

Chief Executive &
Managing Director (Non-Executive Director Sep-Nov 2018), Metals X

Thought LeadershipView all

Canning – a welcoming and thriving City

OPINION shapers from the government, investment, transport and construction sectors were invited to the Business News boardroom to discuss the future development of Perth’s growing south-east corridor

Breast Cancer Researcher Honoured with Order of Australia

In September, Professor Arlene Chan was awarded a Member of the Order of Australia for her services to breast cancer research. The clinical trials she leads are helping to increase survival rates in breast cancer patients.

Fair Work Changes to Casuals

Australian Industrial Relations legislation has provided casual employees with a 25% casual loading to compensate for paid sick and annual leave, redundancy and other entitlements, but this has now been challenged by an unprecedented Federal Court decision, followed by updates to all Modern Awards.

Energy efficiency makes learning a breeze at South Bank TAFE

TAFE Queensland’s South Bank campus is a multi-building tertiary educational facility located in Brisbane’s South Bank Precinct. It was Queensland’s first PPP (Public Private Partnership).

New gaming and networking facility prepares students for the workplace of tomorrow

Technology has changed the way we live and work so much that it’s heralded a new era.