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

Corporate Finance DealsView all

Siemens buys Perth business

Global business Siemens is expanding its footprint in the rail infrastructure sector with the acquisition of Perth-headquartered MRX Technologies for an undisclosed sum.

Silver Lake sells Murchison assets to Westgold

Silver Lake Resources has announced the sale of its remaining interests in the Murchison region to Metals X spin-out Westgold Resources in a cash-and-shares deal worth $10 million.

Brierty signs facility deal with Bankwest

Brierty has signed a new facility and debt restructure agreement with Bankwest that is conditional on the company's rectification plan at Rio Tinto's Western Turner Syncline project being approved by the iron ore miner.

Calidus debuts on ASX

Gold-focused Calidus Resources has begun trading on the ASX after raising $7.8 million from investors and completing a reverse takeover of biotech company Pharmanet Group.

Dreamscape buys Singapore firm for $30m

ASX-listed tech firm Dreamscape Networks has entered into an agreement to acquire a Singapore-based hosting and domain services business for about $30 million in cash and scrip.

Most CommentedView all

Relentless dismantling of traditional retail

ANALYSIS: The point of no return may have already been reached for bricks-and-mortar retailers struggling to compete with the online experience. 

New Business News CEO

Mark Pownall will become CEO at Business News from the start of the new financial year, replacing Charlie Gunningham, who has been at the helm for four years.

WA holds all the cards on energy

OPINION: Western Australia has always been different to the rest of the nation, and not often to its advantage, as the ongoing dispute over the GST demonstrates.

Households, miners to pay an extra $334m

The state government has lifted an array of fees and charges as it seeks to address its budget woes, with iron ore exporters in the Pilbara and electricity consumers facing the largest increases.

Plastic bags banned by WA local councils

Plastic bags are being shunned by councils in Western Australia, which are making the most of Premier Mark McGowan's support for local governments to ban the bag. 

Politics & the EconomyView all

Tourism WA board shake-up

The McGowan government's shake-up of public sector agencies has triggered unexpected departures from key agencies, with road safety commissioner Kim Papalia resigning and three Tourism WA board members following chairman Peter Prendiville out the door.

WA wages, regional growth, mortgages a census focus

Western Australia is home to the nation's fastest-growing region for the second consecutive census, but this time it's not in the north.

Interstate migration hits WA's population growth

Western Australia's population grew by just 0.7 per cent for the 12 months to December, after only 400 people migrated from overseas, while nearly 11,000 moved interstate.

Asleep at the wheel as perception gap widens

ANALYSIS: The business sector's view of the future and that of consumers are heading in different directions.

SA bank levy attractive: Wyatt

State Treasurer Ben Wyatt says the South Australian government's controversial bank levy is an attractive option and he'll watch with interest ahead of delivering his own budget in September.

Upcoming Business News EventsView all

PropertyView all

Big builders facing insurance hike

Western Australia's biggest builders are facing higher insurance costs, in some cases understood to be as high as 25 per cent more, as the Building Commission moves to reduce the reliance on taxpayers to foot the bill for failures in the sector.

Wodonga Plaza a match for M/Group

Property development and investment firm MGroup has added a second shopping centre to its portfolio, entering an agreement to buy Wodonga Plaza in Victoria from Vicinity Centres for $43.5 million.

Busselton pub sold to Charter Hall fund

One of institutional property group Charter Hall's investment funds has bought The Ship Inn in Busselton, part of a $23.2 million sale and leaseback deal with Australia's biggest pub owner, ALH Group.

Rooftop pool goes in at Park Regis

Aqua Technics has installed a free-standing composite pool on the roof of the Park Regis Hotel in Subiaco, saying this technique delivered big time savings for Cooper & Oxley Builders.

Perth property plunge not over yet

Property analyst BIS Oxford Economics believes there is limited upside for residential property in Perth and says the market has yet to bottom out, contrary to the widely held view that the worst is over for Perth homeowners.

Arts & CommunityView all

Willetton SHS takes top architecture award

Willetton Senior High School has claimed the top prize at this year's WA Architecture Awards, while Elizabeth Quay, an arts centre in the Pilbara and the Gen Y Demonstration Housing project were among those to receive high accolades.

Chequered past motivation for new career

Perth entrepreneur Paris Mitchell has packaged his past experiences with addiction and substance abuse into a series of educational presentations and workshops for schools, not-for-profit agencies and corporates.

BDO dons purple bras for good cause

More than a dozen partners from BDO will wear purple bras over their corporate attire this Wednesday in support of Breast Cancer Care WA's annual Purple Bra Day, in the hope of raising at least $10,000 for the charity's services. 

Artist in residence with Jarrad Seng

Whether he's taking photos of baby leopards in Namibia or of acclaimed musicians performing to packed stadiums all over the world, award-winning photographer, filmmaker, and creative director Jarrad Seng has turned what was a hobby into a fulfilling career.

RFDS opens new facility

The Royal Flying Doctor Service officially opened its new aviation and engineering facility this morning, which was funded by a $3.9 million Lotterywest grant and donations from Western Australians.

EnergyView all

Hunt appointed as AGL chairman

AGL Energy has appointed non-executive director Graeme Hunt to take over as chairman when Jerry Maycock retires.

Rooftop solar changing energy market

Rooftop solar panels cut peak electricity demand last summer by 7 per cent and their growing popularity is reshaping consumption patterns, potentially at higher cost to electricity generators, a new report has found.

PM urged to pull party into line on energy

Prime Minister Malcolm Turnbull will face a showdown over the merits of a proposed clean energy target when government MPs meet tomorrow.

Woodside fears Senegal development delay

Woodside Petroleum says its joint venture partner at the SNE oilfield offshore Senegal, FAR, has declined to support a transition for the energy giant to eventually take over as operator of the operation.

Regulator gives AGL, Origin green light

East coast-based companies AGL Energy and Origin Energy have received approval to enter Western Australia's domestic gas market, where they will join Wesfarmers subsidiary Kleenheat and Alinta Energy.

"Mark My Words" PodcastsView all

23 June 2017

In this Business News podcast Dan Wilkie and Mark Beyer discuss the state budget, fees and charges, skilled migration, the outlook for Perth property, new mining projects, the roadhouse blues, and indigenous business.

16 June 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss resources contracts, unemployment, solar power, BHP, CEO sleepout and apartment developments.

09 June 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss the Access Economics report, mining development activity, WA’s civil infrastructure projects …. and BN’s new CEO.

 

02 June 2017

In this Business News podcast Mark Pownall and Dan Wilkie discuss builder collapses, Wesfarmers leadership, CEO salaries, distilleries and breweries.

26 May 2017

In this Business News podcast Mark Pownall and Dan Wilkie discuss Forrest’s donation, Midland Gate expansion, investing in man caves and ICT for small business.

 

Food & WineView all

Collins buys more WA KFC restaurants

ASX-listed Collins Foods will spend $110.2 million to acquire 28 KFC restaurants around Australia from US-based Yum! Brands, six of which are in Western Australia.

Claremont tops for amenity

Theoretically speaking, office workers in Subiaco have to wait about seven times as long as their Claremont counterparts for a morning coffee, an analysis of amenity levels across 50 suburban office markets has revealed.

Poach Pear plates up to meet demand

A fine foods producer is extending its offering across Australia to satisfy a growing appetite for its artisanal products. 

Brand focus for brewers as market gets crowded

SPECIAL REPORT: Brewers are increasingly focusing on branding to stay relevant in a rapidly evolving craft scene.

Artisans distil spirits’ true essence

SPECIAL REPORT: WA distillers are poised at the forefront of the next big movement in boutique beverages.

Special ReportsView all

Apartments advantage

Apartments advantage

19 June 2017

Opportunities arise amid dearth of new projects

Supply issues likely for apartments
South Perth shines light on city-wide planning problems
Infrastructure projects 2017

Infrastructure projects 2017

12 June 2017

Contractors face unique local challenges
Labor resets infrastructure priorities
Crafting a legacy

Crafting a legacy

06 June 2017

Distillers, brewers help WA lead the way in boutique beverages

Artisans distil spirits’ true essence
Brand focus for brewers as market gets crowded

MiningView all

CCI pitches GST reform to Productivity Commission

About 18,000 local businesses and key leaders have backed the Chamber of Commerce and Industry of WA's GST reform submissions, which were put forward to the Productivity Commission today.

Yancoal poised to win Rio coal battle

China's Yancoal looks to have sealed a deal for Rio Tinto's NSW coal operations after raising its offer price to $US2.69 billion ($A3.55 billion) to top a rival offer from global miner Glencore.

Fortescue to add more autonomous trucks

Fortescue Metals Group will deploy a further 112 autonomous trucks across its Pilbara hubs during the next three years as part of its ongoing innovation plans.

Govt agency invests in lithium mine

The federal government's Clean Energy Finance Corporation has emerged as a surprise backer of Pilbara Minerals' Pilgangoora lithium mine, and has outlined a broad range of projects that may attract future support.

BHP commences next big iron ore project

BHP has approved initial funding for its $3 billion-plus South Flank iron ore project in the Pilbara, and the company's top Australian executive said he wanted to hear from local suppliers who could add value to the development.

OpinionView all

The truth about blockchains

OPINION: Amid all the hype about blockchains, one major issue is finding the best use for the technology.

Mark my words podcast

In this Business News podcast Dan Wilkie and Mark Beyer discuss the state budget, fees and charges, skilled migration, the outlook for Perth property, new mining projects, the roadhouse blues, and indigenous business.

Cashie maintains lucrative allure

OPINION: Everyday Aussies feel gypped when big business doesn't seem to pay its 'fair' share of the tax burden, which may help explain the attraction of the cash economy.

Bank on gold, London to a brick

OPINION: A slide in the value of the $A against the greenback could be a positive for gold. 

Inconsistency on asset sales

OPINION: The government seems to be having a bet each way in terms of privatising its revenue-generating assets.

RetailView all

Grocery prices are crazy: Coles boss

Australia's food and grocery prices have to come down further because they are "crazy" compared to the rest of the world, Coles managing director John Durkan says.

WA car sales show first improvement in years

New car sales in Western Australia grew on a monthly basis for the first time in four years in May, but the upswing still falls well short of the slide in sales for the year to date.

CEO lunch with Michael Chaney

Business News sat down to lunch at Julio's with Michael Chaney to discuss his career at Wesfarmers and beyond.

New target for remuneration

The salary package for Wesfarmers' new managing director acknowledges the reality that many large companies pay big annual bonuses every year.

Wesfarmers could be most exposed to Amazon

Amazon poses the biggest threat to Wesfarmers' discount department stores Kmart and Target rather than specialty retailers like JB Hi-Fi, investment bank Morgan Stanley warns.

Thought LeadershipView all

What’s on every CIOs mind? Cloud and Mobility

Although cloud computing has been around for over a decade, for most people outside of the tech industry, it will feel like a relatively new concept.

Regional businesses lead the way in innovation

But we're only scratching the surface. Innovation means different things to different people. Some associate innovation with technology, gadgets and science. 

Is the meat in the sandwich? – The Pay and Performance Discussion.

Employees seek reward for their efforts and so regular pay reviews are an important element for any organisation to ensure employees maintain an appropriate level of remuneration.

Future-proofing business through innovation

CommBank's 21 Day Change Challenge helps businesses face change and innovate day to day operations to meet challenges and take advantage of opportunities.

Business bankers strategic partners for challenges and change

Commonwealth Bank has transformed business banking to help small to large enterprises face emerging challenges and opportunities