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

18 Jan 2019

Lobsters were sold for as little as $30 per kilogram under an initiative to encourage domestic supply, according to an unpublished government report which found the Local Lobster Program at least partially met two major objectives but also raised numerous concerns.

UGL

UGL locks in $200m contract extensions

18 Jan 2019

UGL has secured $200 million worth of contract extensions to supply maintenance and turnaround services for its clients in the oil and gas sector.

Coles

Chinese investor buys Vasse Coles for $20m

18 Jan 2019

An unnamed Chinese private investor has purchased a Coles supermarket in the state’s South West for $19.6 million, part of a $50 million asset sell-off by the retail chain.

Ultra Tune Australia

Ultra Tune cops $2.6m ticket

18 Jan 2019

The Federal Court has imposed a $2.6 million penalty on Ultra Tune Australia, after it was found the automotive servicing and roadside assist company made false or misleading representations about a franchise site, and then tried to mislead the court in its defence.

Maroomba to grow with the workflow

18 Jan 2019

While open to expanding their business, the new owners of Maroomba Airlines are in no hurry to fly beyond current capacity.

Market Charts View all

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Corporate Finance DealsView all

Navitas

Navitas to recommend acceptance of $2.1bn bid

Adrian Rauso Mark Beyer

15 Jan 2019

Navitas directors have recommended shareholders accept an increased $2.1 billion takeover proposal by a consortium that includes its founder and former chief executive, Rod Jones, who says the new ownership would boost the company's prospects .

Flinders Mines

Takeovers Panel receives second Flinders’ notice

11 Jan 2019

Flinders Mines' second largest shareholder has submitted an application to the Takeovers Panel to prevent the company from continuing with its proposed delisting, just a day after it received a similar notice from its 12th largest shareholder.

Carr & Co

Shine acquires Carr & Co

04 Jan 2019

ASX-listed law firm Shine Corporate has expanded its presence in Western Australia with the acquisition of local firm Carr & Co Divorce and Family Lawyers.

Lateral Capital Ventures

Lateral raises $7.3m for Soar, Unocart

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.

This week's most viewedView all

Perth property recovery a slow road: Riskwise

Heath Development Company

14 Jan 2019

Property investors in Perth are facing a bleak outlook, according to new research, which showed a combination of oversupply of units and apartments, lending restrictions and low rental returns would result in 15 per cent negative growth over the next five years.

Court rules against land developer

16 Jan 2019

The Supreme Court has found prominent land developer and real estate agent Colin Heath breached his fiduciary duties in regard to his role in long-running land development ventures with the Godecke family.

Woodside Petroleum

Woodside awards Scarborough contracts

16 Jan 2019

Woodside Petroleum has awarded four contracts, which it is funding without a contribution from venture partner BHP Group, for front-end engineering design activities at its proposed $15 billion Scarborough project.

BGC Contracting

BGC, BDO announce Perth appointments

18 Jan 2019

BGC Contracting has appointed two general managers for its construction division, while Perth accountancy firm BDO has announced two new partners.

BHP Group

BHP overcooks local content claim

15 Jan 2019

BHP Group will be double-checking its advertising copy in future after publishing full-page advertisements that mistakenly claimed major international business CPB Contractors was based in Western Australia.

Politics & the EconomyView all

Policy risk topping Australian concerns: Allianz

Western Australian Treasury Corporation

15 Jan 2019

More than a third of Australian risk management experts believe legislative and regulatory changes are the biggest threat to local businesses this year, ahead of a federal election and growing economic protectionism overseas.

Female CEO for WA Treasury Corp

11 Jan 2019

The state government's trend of appointing female leaders to run key agencies has continued, with Kaylene Gulich appointed chief executive of the Western Australian Treasury Corporation today.

Wesfarmers

WA stocks hit harder than most in 2018

07 Jan 2019

The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.

Nationals MP Broad quitting to save face

AAP

04 Jan 2019

Fallen Nationals MP Andrew Broad is quitting politics to ensure he doesn't remain a diminished figure and "half-laughing stock" in parliament, after a scandal involving a younger woman.

Department of Treasury

Thumping surplus for Wyatt but economic numbers sour

20 Dec 2018

The state’s financial outlook has improved since the May budget by about $3 billion across the next four years, with iron ore royalties and federal grants doing the heavy lifting, but the domestic economy will again shrink this year.

Upcoming Business News EventsView all

Sector Briefing - Property

Central Park - 19 February 2019

Treasury Breakfast

Hyatt - 28 February 2019

PropertyView all

Coles

Chinese investor buys Vasse Coles for $20m

Heath Development Company

18 Jan 2019

An unnamed Chinese private investor has purchased a Coles supermarket in the state’s South West for $19.6 million, part of a $50 million asset sell-off by the retail chain.

Court rules against land developer

16 Jan 2019

Survey reveals shared concerns over Airbnb users

16 Jan 2019

Property owners using websites such as Airbnb to rent out their homes share similar concerns to their neighbours over short-stay users, with a new survey indicating both groups support tighter regulat

Finbar Group

Strata changes offer premium potential

15 Jan 2019

Western Australia’s revamped strata regulations have made it easier for property owners to sell together and realise a higher premium than if they sold individually, particularly in strategic locations.

Perth property recovery a slow road: Riskwise

14 Jan 2019

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.

29 Jan 2019 | @ 06:00pm

Michael Mosley Fast 800 Tour

30 Jan 2019 | @ 05:00pm

Join us for Belmont Business ’Ask an Expert’ Sundowner for 2019 Wed 30th January

31 Jan 2019 | @ 08:00am

The CEO Summit

04 Feb 2019 | @ 07:30am

Quantify Technology - A Breakfast With Amazon Alexa

06 Feb 2019 | @ 09:00am

Understanding Facebook Advertising [MASTERCLASS]

07 Feb 2019 | @ 12:00pm

Business News 25th Anniversary Lunch

08 Feb 2019 | @ 07:00pm

Carbon's Annual Big Poker Night!

11 Feb 2019 | @ 09:00am

Safety Legislation for Small Business

12 Feb 2019 | @ 08:30am

Social Media for Business [MASTERCLASS]

12 Feb 2019 | @ 08:30am

Social Media for Business [MASTERCLASS]

Arts & CommunityView all

Screenwest

Screenwest moves on from drama

16 Jan 2019

Screenwest’s new CEO anticipates a strong project pipeline will allow the organisation to move past a period of instability.

Communicare

$3.4m for refugee support

14 Jan 2019

Communicare, Save the Children and Centrecare have joined forces to deliver a new federal program for migrants and refugees to Western Australia called Settle In.

Minderoo Foundation

Former NAB exec to lead Minderoo

09 Jan 2019

Andrew and Nicola Forrest have recruited a former banking executive as the inaugural chief executive of their private company Minderoo, while also disclosing its total assets more than doubled last ye

Perth Festival

Kalaf joins Festival board

08 Jan 2019

Former Youth Focus chief executive Fiona Kalaf has been appointed to the board of arts organisation Perth Festival.

The Blue Room Theatre

Summer Nights heat up the Blue Room

20 Dec 2018

As business winds down ahead of the Christmas break, The Blue Room Theatre is ramping up its offering with the release of its Summer Nights campaign for Fringe World Festival 2019.

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

Case for renewables, but coal will power on

15 Jan 2019

Wind and solar generation backed by storage are competitive with coal and gas, according to a recent report by the CSIRO, but that does not mean coal-fired generation will be out of the picture.

Macquarie Capital

Second waste to power plant closing on construction

08 Jan 2019

Proponents of a $400 million waste to energy facility to be built in East Rockingham are hoping to get construction under way within months after finalising a waste supply deal with utilities giant Suez.

Horizon Power

Appointments wrap

19 Dec 2018

Former Synergy executive Stephanie Unwin is set to lead regional energy retailer Horizon Power next year, while Screenwest, SNC-Lavalin, Worksafe WA and Destination Perth have also announced significant appointments.

Woodside Petroleum

Pluto gas enters domestic orbit

18 Dec 2018

Domestic gas has started flowing from Woodside Petroleum’s Pluto plant near Karratha today, around six years after LNG exports from the facility got under way.

Woodside Petroleum

Woodside moves forward in Senegal

17 Dec 2018

Front end engineering and design work for Woodside Petroleum’s SNE oil development in Senegal has been awarded to Subsea Integration Alliance, with a final investment decision penciled in for mid-2019, after a long dispute among the project’s partners.

"Mark My Words" PodcastsView all

18 January 2019

PODCAST: Mark Pownall and Mark Beyer discuss Woodside projects, Heath Development, Navitas, rising philanthropy and our special report on WA’s biggest deals and dealmakers.

11 January 2019

PODCAST: Mark Pownall and Mark Beyer discuss Perth’s luxury suburbs, crayfishing drama, tourism downturn, bumper grain harvest, Minderoo’s new CEO and our special report on the increasingly important and newsworthy aged care sector.

14 December 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.

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.

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

Aged care

17 January 2019

Fast-growing sector under scrutiny

Aegis, Juniper lead aged care growth

Delia Price 17 Jan 2019

Property slump playing role in retirement plans

Delia Price 17 Jan 2019

Fear, loathing and hope for commission

Delia Price 17 Jan 2019

Person of the year 2018

17 December 2018

Forrest leads pack in 2018

Forrest’s contribution a standout

Dan Wilkie 17 Dec 2018

McGowan hits targets, Cormann prominent

Matt Mckenzie 17 Dec 2018

Scott, Coleman, Ellison make their marks

Matt Mckenzie 17 Dec 2018

Canning’s growth legacy

Delia Price 17 Dec 2018

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

MiningView all

Predictive Discovery

Geologist found dead in Burkina Faso

18 Jan 2019

West Perth-based gold and uranium explorer Predictive Discovery said employees at its joint venture with Progress Minerals in the West African country of Burkina Faso were safe, after a geologist working for its Canadian partner was kidnapped from the project site and killed.

Rio Tinto

Rio Tinto iron ore production up 2%

AAP

18 Jan 2019

Mining giant Rio Tinto expects to produce more iron ore this year, after it shipped 338.2 million tonnes of iron ore from its Pilbara operations in 2018, in line with full-year guidance.

BHP Group

BHP overcooks local content claim

15 Jan 2019

Ausdrill

Ausdrill CFO departs for Adelaide Brighton

15 Jan 2019

Ausdrill has announced its chief financial officer Theresa Mlikota will leave company within the next three months to undertake the same role at ASX-listed construction materials and lime producer Adelaide Brighton.

Rio Tinto

Rio’s force majeure on iron ore

14 Jan 2019

Rio Tinto has halted exports of iron ore to some of its customers, after a fire last Thursday engulfed parts of its Cape Lambert export facility, located 40 kilometres north of Karratha.

Current IssueView all

Issue for 17 December 2018 to 20 January 2019

Issue for 3 December 2018 to 16 December 2018

Issue for 19 Nov 2018 to 02 Dec 2018

Issue for 5 November 2018 to 18 November 2018

Issue for 22 Oct 2018 to 04 Nov 2018

OpinionView all

Mark my words podcast

Mark Pownall

18 Jan 2019

PODCAST: Mark Pownall and Mark Beyer discuss Woodside projects, Heath Development, Navitas, rising philanthropy and our special report on WA’s biggest deals and dealmakers.

An upside for every downside

Tim Treadgold

14 Jan 2019

The protracted Brexit negotiations, a tough-talking new leader in Brazil, and a buoyant gold price all bode well for WA in the year ahead.

Mark my words podcast

Mark Pownall

11 Jan 2019

Tourism Council WA

Activation, targeting key to build tourism

18 Dec 2018

Opinion: Los Angeles and Miami should inspire Western Australians hoping to ignite tourist attention, but our state needs to consider how to generate the most value from the industry.

Mark my words podcast

14 Dec 2018

RetailView all

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.

Wesfarmers

Bunnings UK sell-off still stings Wesfarmers CEO Scott

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.

Claremont Quarter

Tommy Hilfiger opens Perth store

26 Oct 2018

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.

Retail reward for Quick Flick

05 Oct 2018

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 Property Group

SCA in $270m Perth shopping spree

Property Council of Australia

03 Oct 2018

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.

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

Artemis Resources

Artemis discovers multiple magnetic targets in Pilbara

17 Jan 2019

Artemis Resources has discovered multiple exploration targets from a geophysical interpretation of its high-resolution, aeromagnetic survey over its Armada prospect in the emerging Paterson Ranges in the eastern Pilbara of WA. Two new priority targets lie in a 6km long corridor, directly along strike and north of Greatland Gold’s spectacular new Havieron copper-gold discovery. Gravity surveys will now be undertaken to better define the highest priority targets.

Phylogica

Phylogica on verge of peptide vaccine breakthrough

17 Jan 2019

ASX-listed biotech Phylogica has continued its march towards commercialisation of its potentially game-changing biological “peptide” vaccine, with the Perth company set to release results from in-vitro testing by mid-2019. Phylogica says its vaccine is able to provoke an amplified immune response against diseased tissue including viruses and cancer. The vaccine is based on technology that allows drugs to fully penetrate cell walls in order to deliver a drug payload.

Kairos Minerals

10km of Pilbara gold anomalies for Kairos

17 Jan 2019

Kairos Minerals has uncovered widespread gold anomalies over more than 10km strike at its emerging Croydon gold project, located about 120km southwest of Port Hedland in Pilbara region of WA. Encouraging assay results up to 1.53g/t gold were returned from stream sediment sampling, with most of the new anomalies recorded from the same rock unit that hosts Novo Resources’ 667,000 ounce Beatons Creek gold resource further east.

Spectrum Metals

Spectrum onto multiple gold targets in WA

16 Jan 2019

Spectrum Metals has generated multiple, high priority drill targets from a regional exploration auger geochemical sampling program at its newly acquired Penny West gold project, located in the Murchison mining district of WA. The company said it will drill the Columbia-Magenta prospect in the coming weeks and also target high grade gold mineralisation beneath the historic Penny West open pit shell.

Aspire Mining

Aspire set to pounce on supply gap for coking coal