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

Corporate Finance DealsView all

AFG in $10.9 million property lender buy

West Perth-based Australian Finance Group has announced it will purchase a 30.4 per cent stake of Sydney-based commercial property lender Think Tank Group for $10.9 million.

Hopkins in $508m panel beating buyout

Perth-based Andrew Hopkins has led a $508 million buyout of national panel beating business AMA Group, with the deal backed by private equity giant Blackstone.

Large deals boost capital raisings

The value of Western Australia-related equity capital markets deals jumped to $4.2 billion in the March quarter, helped to a large degree by a handful of large transactions.Of the 140 March-quarter de

AWE, Finders battles add M&A spice

SPECIAL REPORT: Corporate advisory firm Argonaut had a lead role in two of the most hotly contested takeover battles in WA in recent times.

Pacific Energy finds smooth M&A path

SPECIAL REPORT: Ten years after completing a company-defining acquisition, remote power operator Pacific Energy has struck another similar deal.

Most CommentedView all

Tourism boss dumped

The director general of the Department of Jobs, Tourism, Science and Innovation, Stephen Wood, will be leaving his job next week, after the government said it was not satisfied with his management of the tourism portfolio.

Hopkins in $508m panel beating buyout

Perth-based Andrew Hopkins has led a $508 million buyout of national panel beating business AMA Group, with the deal backed by private equity giant Blackstone.

Miss Maud Hotel sold to Stockholm Hotel Management

Miss Maud’s Swedish Hotel and Restaurant at the corner of Pier and Murray streets has been sold to private company Stockholm Hotel Management, with the price rumoured to be around $10 million.

Cafes close in ATO battle

Perth venues The London Court Cafe and Black Tie Co have closed their doors in recent weeks, as the holding company controlling the two brands enters liquidation following a dispute with the Australian Taxation Office.

Rothwell reflects on Austal journey

John Rothwell remembers some of the most significant deals made in the early days of shipbuilder Austal, in the latest instalment in our series to celebrate Business News' 25th anniversary.

Politics & the EconomyView all

Further consultation for energy guarantee

State governments have approved more detailed design work on the National Energy Guarantee to proceed at a Council of Australian Governments energy ministers meeting today, although Labor state leaders still have objections.

Live export ban cost up to $150m

The cost to Western Australian farmers of a ban on live sheep exports could be more than 10 times previous estimates, as much as $150 million, according to a report released today.

Chaney says benefits of tax reform clear

Woodside Petroleum chairman Michael Chaney has said there’s a risk that major energy players may be dissuaded from investing into Western Australia if company tax reform is stalled, as the business closes in on a tolling deal for gas from the Browse field.

WA unemployment hits highest rate since 2002

Western Australia’s unemployment rate has hit its highest level in more than 16 years, despite the state’s economy adding jobs in March, according to the latest data from the Australian Bureau of Statistics.

Waste, cost cuts key for better health outcomes

The costliest and most wasteful parts of the healthcare system are often the most frustrating for customers, according to Sustainable Healthcare Review chair Robyn Kruk, so they should be the top targets for future reform.

Upcoming Business News EventsView all

Hyatt Regency Perth - 03 May 2018

PropertyView all

Freo Woolstores redevelopment blocked

Silverleaf Investmenta' proposal to redevelop the Woolstores Shopping Centre in Fremantle has been knocked-back by the Metro South-West JDAP, largely due to its design.

Construction tenders April 20 2018

TendererProjectCloseSubmissionsAlliance BuildersDurham Road School - library refurbishmentApr 29drafting@alliancebuilders.com.auBE ProjectsCaversham Primary School - under cover areaApr 24tenders@

Legal action dropped against Sirona Capital

The administrators of the Cooper & Oxley group of companies have withdrawn legal action in the WA Supreme Court against Sirona Capital, after trying to retrieve a $5 million investment.

Miss Maud Hotel sold to Stockholm Hotel Management

Miss Maud’s Swedish Hotel and Restaurant at the corner of Pier and Murray streets has been sold to private company Stockholm Hotel Management, with the price rumoured to be around $10 million.

Property Council calls for tax relief

The Property Council of Australia has called on the state government to rule out increasing property taxes in the 2018-19 budget, as the local housing market continues to shows signs of recovery.

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

Walsh to chair national arts council

Former Rio Tinto chief executive Sam Walsh will take up the position of Australia Council of the Arts (ACA) chair, as of July, after almost two years on the board.

Web puts photographers in the picture

Perth photography business Salty Wings is a prime example of how creatives in the 21st century can drive success off the back of social media.

End Homlessness WA launches on Adelaide Terrace

A group of not for profits that joined forces 18 months ago with a mission to end homelessness will today publicly launch its 10-year plan on Adelaide Terrace, followed by a music event through the streets of the CBD.

Social enterprise for homeless seeks $50,000

An emerging social enterprise, The Underground Collaborative, is seeking about $50,000 to provide employment pathways for Perth’s homeless and disadvantaged amid plans to roll out a series of coffee carts across local parks.

Parks have friends in high places

A not-for-profit group established and chaired by retiring Governor Kerry Sanderson has attracted strong corporate support in its mission to improve our state’s parks.

EnergyView all

Gorgon build will mean workflow for contractors

Chevron’s decision to build stage two of the Gorgon LNG project, announced on the weekend, takes the total value of petroleum industry investment committed or under construction in Western Australia to around $55 billion, according to state government data.

Alinta unveils $45m Pilbara battery

A new utility-scale battery launched in the Pilbara by Alinta Energy today will be Australia’s second biggest, behind Elon Musk’s Tesla battery in South Australia.

Synergy JV in 210MW renewable build

The state government has today announced that two private investors will co-invest with Synergy in a joint venture that is planning to build up to 210 megawatts of renewable energy projects in the South West Interconnected System.

Pacific Energy in $90m acquisition

Pacific Energy has strengthened its position in the remote power market by striking a deal to acquired Kewdale-based Contract Power Group for $90 million in cash and shares, adding to its existing operations through subsidiary Kalgoorlie Power Systems.

Step forward for Barossa gas project

Plans to use the Barossa gas field in the Timor Sea as backfill for the Darwin LNG plant received a boost today, with the project getting a tick of approval from the National Offshore Petroleum Safety Authority.

"Mark My Words" PodcastsView all

20 April 2018

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss Gorgon stage two, corporate tax debate, defence contracts, employment data, fracking ban, tourism, and our building and construction feature.

13 April 2018

PODCAST: In this Business News podcast Mark Beyer, Matt Mckenzie, and Tori Wilson discuss Synergy and renewable energy, the Atlas Iron takeover, live sheep exports, Bill Shorten’s Perth visit, a new report on Kwinana, and the debate over training and apprenticeships.

06 April 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss house price recovery, lithium contract win, automation in WA, remuneration report, GST, indigenous contracting, our feature on corporate finance includes big recent takeovers and the trends in other mergers and acquisitions + a capital raising wrap-up.

29 March 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Applecross towers, Scarborough high-rise, Gary Brown-Neaves, infrastructure priorities, cycling fund raisers, Wayne Martin retires, and our special report on agribusiness.

23 March 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Trump’s trade war WA impact, residential property prices, population and labour statistics, World Trade Centre, Pacific Energy, ride sharing and our special report Most Influential.

Food & WineView all

Fresh greens at your fingertips

Indoor plant solutions startup Urbotanica is hoping to springboard off the growth in healthy food preparation appliances with the launch of its UrbiPod.

Cafes close in ATO battle

Perth venues The London Court Cafe and Black Tie Co have closed their doors in recent weeks, as the holding company controlling the two brands enters liquidation following a dispute with the Australian Taxation Office.

Jamie Oliver's Aust business hits trouble

Jamie Oliver's business woes have deepened with his Australian restaurant group falling into voluntary administration.

Aust wine exports to China pass $1bn

Lower tariffs have helped boost the value of Australian wine exports to China in the year to March 2018 to more than $1 billion - the first time that exports to a single country have hit that level.

Crafting the perfect brew

WA’s beer offering today is a world away from the limited choices of just a few decades ago.

Special ReportsView all

Apprentices and training 2018

Apprentices and training 2018

16 April 2018

Struggle to meet market needs
Businesses wary of tax training plan
Most Influential 2018

Most Influential 2018

26 March 2018

The key players in politics, business, arts and property

Leadership can take many forms
Saffioti plans taking shape
Influencers and innovators shape arts sector outcomes
ICT services 2018

ICT services 2018

19 March 2018

While the government restructures its ICT services, the private sector adapts to an added emphasis on cybersecurity.

ECU research behind cyber startup
Govt facing ICT challenge

MiningView all

Young steps down from Pilbara board

Pilbara Minerals founder John Young has stepped down from the company’s board, with Sally-Anne Layman set to become a non-executive director as the company closes in on first lithium production.

Auris board spill

Auris Minerals chairman Bronwyn Barnes and independent director Susan Vearncombe have been voted off the company’s board, after a group of dissident shareholders gained enough support to pass a number of resolutions at a special meeting today.

Paladin restructure the only option: Collins

King & Wood Mallesons Partner Nathan Collins, who was involved in the debt restructuring of troubled uranium miner Paladin Energy, says the deal, which left existing shareholders with a 2 per cent stake, was the only real option for the company.

Veris locks in BHP contract

Osborne Park-based Veris has secured a three-year services contract for technology infrastructure upgrades at BHP Billiton’s accommodation villages.

BHP cuts iron ore guidance on dumper issue

Mining giant BHP Billiton has trimmed its full-year iron ore production guidance after being forced into unexpected dumper car maintenance.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss Gorgon stage two, corporate tax debate, defence contracts, employment data, fracking ban, tourism, and our building and construction feature.

Political posts and power plays

Opinion: The departure of career public servant Stephen Wood has raised questions about the role of the bureaucracy in providing frank and fearless advice.

Union of convenience may be a step too far

Past overreach on IR and current political realities combined to mute the federal government’s options in terms of the new ‘super union’.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer, Matt Mckenzie, and Tori Wilson discuss Synergy and renewable energy, the Atlas Iron takeover, live sheep exports, Bill Shorten’s Perth visit, a new report on Kwinana, and the debate over training and apprenticeships.

Take charge when the sale stalls

The better prepared for the objection you are before you make the sales call, the more likely you’ll get past the customer’s blocks.

RetailView all

Economists unconvinced by retail surge

Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.

Retail sector feeling the heat

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

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.

$150,000 fines for Pastacup breach

The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.

Most viewed people

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

Sally-Anne Layman

Sally-Anne Layman

Non-Executive Director, Imdex
Non-Executive Director, Gascoyne Resources
Non-Executive Director, Perseus Mining
Non-Executive Director, Pilbara Minerals

Andrew Hopkins

Andrew Hopkins

Executive Chairman, Gemini Accident Repair Centres
Managing Director and Owner, Aqua Resort
Founder, Co-Owner, Gemini Property Group
Executive Director, AMA Group
Director, Swings &
Roundabouts

Bronwyn Barnes

Bronwyn Barnes

Non-Executive Chairman, Auris Minerals
Non-Executive Chair, Indiana Resources
Interim CEO, Black Mountain Resources
Non-Executive Director, MOD Resources

Maud Edmiston

Maud Edmiston

Managing Director, Miss Maud

Thought LeadershipView all

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.

Set your business up for 457 Visa changes

For over 20 years, Australian businesses have taken the option of engaging overseas employees through 457 sponsorships.

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.