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

Corporate Finance DealsView all

Talga raises $6m

Graphite explorer Talga Resources has raised $6 million from an oversubscribed share purchase plan, in excess of the $3 million target announced last month.

Macquarie invests in WA energy company

Malaga-based UON has announced Macquarie Bank as a strategic investor of the company, as it looks to bring new technology and solutions to Western Australia’s mining sector.

GenusPlus adds to growth with EC&M acquisition

Privately-owned contractor GenusPlus Group has completed its fifth acquisition in the space of two years, confirming today it has bought EC&M out of administration with plans to retain a small group of key staff to help rebuild the business.

Bethanie buys Subi, Como centres

Aged care and retirement living provider Bethanie has acquired Berrington Care Group's Subiaco and Como centres, which it expects to operate early next year. The sale comes five months after Berrington went into administration,

Salt Lake to raise $45.5m

Salt Lake Potash has secured further funding for the development of its Lake Way project in Western Australia after receiving commitments to raise $23.5 million from a share placement, along with a $22 million debt extension from Taurus Funds Management.

Politics & the EconomyView all

Hill resigns from $28m training fund

The chair of the Construction Training Fund has resigned 18 months before his term was due to expire, as the state government proceeds with changes to the fund's operation and governance.

WA worst for home loan debts

Western Australia recorded the highest mortgage delinquency rate in the year to May of 3.38 per cent, while the Australian average was 1.94 per cent, according to a report from Moody's Investors Service.

Work with us in Pacific, Belt and Road: China

Australia, China and the US can cooperate in the South Pacific on big data and in artificial intelligence, according to a visiting senior Chinese policy adviser, while encouraging Western Australia to get involved in the Belt and Road Initiative.

Lowe cautious on QE

Moves by the Reserve Bank to buy private assets or government bonds, known as quantitative easing, are unlikely in the near future, according to governor Philip Lowe.

Nahan to vacate Riverton in 2021

Former treasurer Mike Nahan will not re-contest his seat of Riverton at the 2021 state election, he announced today, about six months after leaving the role of opposition leader.

PropertyView all

Data points to housing recovery

Fresh data on Perth’s residential property market points to a long-awaited recovery in 2020, with sales activity tracking higher in the second half of 2019 and supply starting to tighten across in-demand suburbs.

Quadrant lands in Joondalup with CBD buy

Property funds manager Quadrant Investments is evaluating its options to develop a prime site in Joondalup’s CBD, after it established a new fund to acquire the asset for $4.3 million.

Ellison to demolish $57m home

Ten years after paying a record WA price of $57.5 million for their Mosman Park property, mining magnate Chris Ellison and his wife Tia Ellison are planning to demolish the existing dwellings and build two new houses.

Primewest fund in $47m sale

A fund managed by Primewest has sold a historic building and an adjoining eight-storey office tower in Brisbane’s CBD for $47.4 million.

Scentre Group buys into Garden City for $570m

Garden City Booragoon will soon be rebranded as Westfield Booragoon, after Scentre Group acquired a half stake in the shopping mall from AMP Capital for $570 million.

WA Event Calendar View all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, register with Scoop Online..

Aboriginal Culture in WA View all

With a history stretching back at least 50,000 years, there are many ways to explore WA’s rich and diverse indigenous heritage..

Arts & CommunityView all

Pathways for Perth producers

Filmmakers Lauren Elliott and Brooke Silcox followed similar, but unconventional, paths to establishing their own production companies, Galactic Baby and No Thing Productions.

Initiatives increase social housing

The government, community housing providers, not-for-profit sector and property industry are finding new ways to access funding to build new social and affordable housing, but the community housing sector is still looking for additional funds.

Community services organisations campaign for more funding

Community services organisations have launched the #YourHelpWA campaign asking the state government for 20 per cent more funding to help vulnerable and at-risk people.

Templeman forms culture taskforce

Culture and the Arts Minister David Templeman has announced the formation of a cultural precinct taskforce, ahead of WA Museum’s reopening in late 2020.

Push for better data to inform social policy

The Committee for Economic Development of Australia puts data and evidence at the heart of a strategy to tackle social disadvantage in Australia, but those on the frontline argue solutions should also come from the community.

EnergyView all

WA alone in power price surge

Western Australia is the only Australian state expecting an increase in power prices during the next three years, according to new modelling out today, which could put pressure on the state government to introduce further competition to the electricity sector.

EPA revises greenhouse gas policy

The Environmental Protection Authority has released a new draft greenhouse gas emissions guideline, which substantially softens the initial draft guideline announced earlier this year.

WA women take senior board roles

Five Western Australian women have been appointed to senior board positions, including Marion Fulker joining the Infrastructure Australia board and Samantha Tough chairing Horizon Power.

LNG trucking for Strandline power

Woodside Petroleum and power contractor EDL will team up for a 27-megawatt gas and renewable microgrid to be built at Strandline Resource’s Coburn mineral sands project, which will include trucked LNG.

$112m renewables project hits milestone

Mining company Gold Fields and energy producer EDL have completed the first stage of a renewable energy project that will eventually see wind and solar deliver half the power needs of the Agnew gold mine.

Food & WineView all

Kailis senses market movement

There’s a seismic shift happening in hospitality and Perth has an opportunity to become a culinary destination, according to George Kailis.

Chocolate artisan builds the brand

Coolbellup-based Nakamura Chocolates is aiming to triple Western Australian sales after a successful entry into the Japanese market.

Prominent Perth restaurateur accused of extortion

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Twenty-five businesses share $166m food contract

The Department of Finance has selected 25 businesses for its new common-use arrangement contract to supply food and beverage items to government agencies across Western Australia.

WA wins big at national food awards

Bacon from Perth, coffee from Broome, pork from Fremantle, and nougat from the Swan Valley have all claimed awards at the 2019 Sydney Royal Fine Food Show’s Taste of Excellence event.

Special ReportsView all

Family business dynasties

Family business dynasties

09 December 2019

A series of recent acquisitions has the Yukich family poised to become one of the state’s biggest players in hospitality, fine food and wine.

Yukich family tops taste test
CEO salary survey

CEO salary survey

02 December 2019

Our comprehensive annual survey of executive remuneration shows wide variation across companies

WA companies use mix of pay strategies
Equity deals deliver big rewards
Inclusive workplaces

Inclusive workplaces

27 November 2019

With Australia’s rate of disability employment stagnating, Business News spoke to businesses and people with disabilities to find out how to improve participation and be more inclusive.

Getting to work on abilities
Tool helps firms open up job opportunities
Fund Managers

Fund Managers

19 November 2019

With uncertainty surrounding global share markets, Business News has taken a close look at the strategies of six Perth-based fund managers.

Fund managers offer strategy options
Great for the State – Edition 9: Time & Place

Great for the State – Edition 9: Time & Place

18 November 2019

The Indo-Pacific is undergoing profound development, and WA is positioning itself to contribute with our resources, food, education and as a destination.

Boom brings mutual benefit
Gearing up for Indo-Pacific’s bright minds
Seven developments that built brand Perth
From ocean to plate, it’s favoured in Asia

MiningView all

Uyghur activist’s chilling warning on China

Australia needs to consider its trading relationship with China in light of alleged human rights violations against tens of thousands of the Uyghur ethnic minority, community representative Rushan Abbas said at a media briefing organised by the US consulate.

Metals X gets new chairman, MD to leave

Metals X has announced a sweeping board restructure after last week’s closure of the Nifty copper mine, with three directors resigning and APAC Resources nominee Brett Smith joining, just two months after he was rejected by the incumbent board.

Agrimin, Mitchell form JV

Experienced trucking operator Craig Mitchell has formed a logistics joint venture with aspiring sulphate of potash producer Agrimin, seven months after he reached a similar agreement with budding iron ore miner Fenix Resources.

Autonomy, big data driving resources revolution

A move to use lasers to perfectly load rail cars is worth about $300 million to BHP and is an example of how the area around the town of Newman is world class in applying technology to resources.

Rio to invest $1bn in Pilbara mine

Rio Tinto has approved a $1 billion investment in its Pilbara iron ore operations, including the rollout of more autonomous trucks, on the same day the state government urged Canberra to support changes designed to fast track approvals for major resources projects.

OpinionView all

Keystart’s investment future

OPINION: The impact of helping people into the housing market is invaluable.

Micro-aggressions metastasise

School leaders usually agree to disagree on many thorny education issues but are united in their view that schools must be places where children and young adults can learn and develop without fear of discrimination and harassment.

Seat changes add uncertainty

OPINION: The state’s electoral redistribution commissioners shouldn’t expect Christmas cards from opposition leader Liza Harvey, former Labor minister Margaret Quirk or the first-term member for Joondalup, Emily Hamilton.

Tech tensions offer opportunity

The tech sector continues to shift through the gears as 2020 approaches, hurtling society towards an increasingly complex, digitised and mediated world.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss economic data, housing stimulus, property prices, Garden City, new hotel developments, mining IPOs, Deborah Terry, accounting rankings and our special report on WA dynasties.

RetailView all

Administration, restructure planned for Fashion Festival

The entity which ran the Perth Fashion Festival for 20 years, before operations were passed to the Fashion Council WA, has entered administration owing $819,000, with owners Mariella Harvey-Hanrahan and Tony Sage planning a deed of company arrangement.

Profit rockets at Spudshed

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

Betts pulls on boots for recovery

Shoe retailer Betts Group has returned to profitability after cutting nearly 130 stores in the past two years, and chief executive Danny Breckler is confident the business is now on the right path.

WA hospitality sector shows signs of resurgence

Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.

AHG slumps to $233m loss

Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.

SkylineView all

Skyline

Property Council WA praises revised City of Perth population targets

The City of Perth’s decision to more than double its residential population targets to 90,000 will help central Perth reach its potential.

Drone delivery poses new challenges for WA industrial players

A panel of experts has told a Property Council WA event that drone delivery is closer to becoming a reality - and will require a re-think from planners.

Perth's newest commercial hub launches at Murdoch Health and Knowledge Precinct

Sheffield Property are calling for expressions of interest in Western Australia’s most dynamic new office space, in Perth’s fast-growing southern corridor.

Experts tip price growth for Perth housing

Perth has gone from being Australia’s least affordable city to the most - but it's ready for price growth, a Property Council WA lunch has heard.

Property Council WA wins stamp duty relief

Property Council WA is counting the State Government’s rebates of up to $50,000 for off-the-plan apartments as a significant policy win.

Bulls N' BearsView all

Bulls N' Bears

Image nails new 40km long mineral sands horizon

Active minerals sands miner, Image Resources, may have found a new, 40 kilometre long shoreline trend running both west of and parallel to its current zircon-rich Boonanarring heavy minerals ore reserves in Western Australia. The company has been busy with the drill rig throughout 2019 as it goes about upgrading Boonanarring’s proven reserves of 9.3 million tonnes at 8.6% heavy metals and its probable reserves of 10.5Mt at 5.9% HM.

PharmAust grows network for dog anti-cancer drug trials

PharmAust has expanded its national network of participating veterinary and university institutions who will join the ASX-listed biotech’s anti-cancer crusade for dogs. With the pace of phase II clinical trials for its promising “Monepantel” anti-cancer treatment projected to rise, the company is looking to impact K9 – and possibly even human – cancers. Phase I trials were very positive, with a notable reduction in cancerous tumours and prolonged lifespans.

Prominent QLD mining veteran pumps $4m plus into Venus

Multi-commodity explorer, Venus Metals, has received a vote of confidence from Queensland multi-millionaire and veteran coal miner, Christopher Wallin, who has ploughed $4 million into the company at 20 cents a share. The investment gives Mr Wallin, one of Australia’s top 50 richest people, a substantial 17.25% stake in the Perth based ASX-listed company as it attempts to unlock some riches in the Youanmi mineral province in WA.

TNG vanadium offtake book full at NT project

TNG Ltd has signed a binding agreement with major global commodity trader for the offtake of 40% of the vanadium pentoxide products from its flagship Mount Peake vanadium-titanium-iron project in the NT. The company already has a binding offtake agreement with South Korea’s Woojin for at least 60% of the project’s vanadium output and a binding term sheet with Gunvor for its iron products.

Neometals onto broad nickel sulphides at Widgie South

Neometals has added some serious length and width to its Widgie South nickel trend at the Mt Edwards project near Widgemooltha, in the first serious drill campaign to hit the area since 2008. Best intercepts include 16 metres grading 1.45% nickel and 21 metres grading 1.05% nickel. Narrow high-grade nickel zones in the broader intercepts ran up to 4.79% over two metres and 2.42% over four metres.

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Pindan

Pindan

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Most viewed people

Chris Ellison

Chris Ellison

Managing Director, Mineral Resources
Honorary Consul, Consulate of New Zealand
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Paul Whyte

Paul Whyte

Member, Western Australian Planning Commission

Denby Roberts

Denby Roberts

Director, DR Capital

Deborah Terry

Deborah Terry

Non-Executive Director, Committee for Perth
Councillor, St Hilda's Anglican School For Girls

Thought LeadershipView all

How Vulcan is helping to create a zero carbon future

Located at the heart of the European auto and lithium-ion battery industry, ASX listed Vulcan Energy Resources (ASX:VUL) is working to bring “Zero Carbon” lithium to Europe’s electric vehicle (EV) sup

Subiaco a drawcard for investors

An influx of new property projects has put Subiaco back on the map. 

APIL Reaches $1.0Billion Property Fund Milestone

Perth-based Australasian Property Investments Limited is sizing up opportunities in the industrial market, launching a new syndicate targeting $125 million worth of properties.

How good is your employee relations strategy?

When resource projects get the green light everyone in the community directly or indirectly benefits.  Although the construction phase is short lived; the new resource projects generate huge benefits

Construction industry reforms – is compliant still compliant?

Builders, developers and consultants may all be at risk of legal action commenced as a result of the impending changes to building regulations.