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

Corporate Finance DealsView all

MGC in Korean supply deal

Medical cannabis company MGC Pharmaceuticals has locked in a supply agreement that it expects to net about $20 million in annual revenue.

Tawana in $25m funding deal

Lithium explorer Tawana Resources has attracted a $25 million funding package with one of its offtake partners, as it works towards first production at its Bald Hill project in the Goldfields by early next year.

Aboriginal group buys fencing contractor

Karlka Developments is set to more than double its annual turnover to $35 million after acquiring Perth company FenceWright for an undisclosed sum.

Sheffield to demerge assets

Sheffield Resources has announced plans to spin-out its gold and base metals assets into a separate entity and list it on the ASX, as it progresses development of its flagship Thunderbird mineral sands project.

Nanollose debuts after $5m IPO

Fibre tech company Nanollose has excited investors on its first day of trading on the ASX, following completion of a $5 million initial public offering.

Most CommentedView all

Gold miners put heat on Libs

Ten gold sector leaders spoke in unison today about the damage they believe will flow from the state government’s hike in royalties, and also made clear they are targeting the Liberal Party to block the change.

Dunsborough Puma planning stoush persists

The two-year saga over a proposed 24-hour Puma fuel station in Dunsborough has taken a new turn, with the Southern Joint Development Assessment Panel lodging an appeal in the Supreme Court against the State Administrative Tribunal’s ruling in favour of the development.

Clark to lead Kasbah

Tin explorer Kasbah Resources has recruited former Wolf Minerals boss Russell Clark as its new chief executive.

WA’s population grows just 0.7%

Growth in Western Australia’s population has continued near historically low levels, with almost 1,000 people per month leaving WA to live in other states, primarily Victoria.

Indigenous JVs win $6m in work

Two indigenous business joint ventures have been awarded a combined $5.9 million worth of contracts in the Pilbara.

Politics & the EconomyView all

L3 Oceania wins $2.9m defence contract

Defence contractor L3 Oceania, formerly known as Nautronix, has won a $2.9 million innovation contract from the federal government’s Defence Innovation Hub.

WA unemployment down, still up on national figure

Western Australia’s unemployment rate fell 0.2 percentage points last month, putting it among the top performing states for annual employment growth, according to new data.

Public servants strike deal with state govt

Western Australian public servants have accepted a two-year pay deal with the state government, despite it breaking a pre-election promise for a 1.5 per cent a year deal.

Payroll tax hike set to proceed

The Western Australian opposition will not block the Labor government's proposed payroll tax increase, despite describing it as a broken election promise and predictions it will cost over 1,300 jobs.

Industry backs Landgate sale

The state government has been encouraged to follow the lead of NSW and South Australia and privatise its land registry agency, Landgate, which posted a net profit of $20.1 million last financial year.

Upcoming Business News EventsView all

Hyatt Regency Perth - 28 November 2017

Winners announced - 07 March 2018

PropertyView all

Right fit for law firm

Perfecting the look and feel of a new office space can often take centre stage for incoming tenants, but for international law firm Allen & Overy a key priority for its new premises was a little different.

Perth housing affordability hits 10-year high

The combination of lower property prices, low interest rates and small increases in household incomes has made housing affordability in Perth the best it has been for 10 years, and the best of any

Allingame steps up at UDIA

Nick Allingame is planning to put his property experience and industry networks to good use in his new role as UDIA WA president.

Multi-property investors worry RBA

The number of property investors with five or more properties in Australia has spiked in recent years, adding to central bank concerns about the overheated Australian housing market.

Fremantle heritage buildings expected to sell for $8m

Built by convicts in the 1850s, the warders’ cottages in Fremantle are expected to sell for a total of $8.2 million.

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

Tianqi builds on strong cultural foundation

Tianqi Lithium has taken further steps to strengthen its cultural ties to Western Australia with the announcement of a $5 million partnership with the Foundation for the WA Museum.

Percussionists go Kaboom in the basement

PHOTO ESSAY: Drumming duo Kaboom Percussion teamed up with events coordinator Ensembly to perform in the basement of CBD coworking space Studio Startup.

Artist in residence with Louise McKay

For artists of any kind, pursuing a passion and making full-time work out of it can be a tough gig.

Top fashion label to close

One of Perth’s most successful fashion designers, Melanie Greensmith, has announced she will close her Wheels & Dollbaby label after three decades in the business.

Country Arts launches collaborative programs

Country Arts WA has allocated $200,000 to each of three new arts initiatives to support and expand arts in regional Western Australia.

EnergyView all

BHP chair cautions activist shareholders

New BHP Billiton chairman Ken MacKenzie has backed his chief executive's performance and cautioned activist shareholders that the board will ultimately determine the company's direction.

Woodside production, revenue falls

Energy giant Woodside Petroleum has posted a fall in third-quarter production following scheduled maintenance and a lower share of pipeline gas from the North West Shelf.

Origin to launch in west today, deepening price war

Sydney-based energy provider Origin Energy will launch in the Western Australian retail gas market today, 10 months after Business News revealed the company would be the fourth business to supply domestic gas in the state.

BHP iron ore, petroleum output dips

BHP Billiton has reaffirmed its full-year production guidance for all its commodities despite posting softer quarterly production for iron ore and copper.

Fed energy change creates a new reality in the west

Western Australian Energy Minister Ben Wyatt has opened the door for a potential state-based renewables target after the federal government confirmed a major change in energy policy today.

"Mark My Words" PodcastsView all

20 October 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss housing affordability, privatisation and infrastructure, mining projects, distilleries, Black Monday anniversary and our special report on ICT looking at cloud computing, big data and internet of things.

13 October 2017

In this Business News podcast Mark Beyer, Mark Pownall and Matt Mckenzie discuss Rod Jones, Feral Brewing, state finances, Tronox and WA exporters.

09 October 2017

The Anglican Dean of Perth draws on his experience as an Olympic water polo player to help guide him as a leader and mentor in the church.

06 October 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss property and construction, wave power, gold tax, WA's big dealmakers, and the latest Perth deal trends - edtech and Japanese investment.

29 September 2017

In this Business News podcast Mark Beyer, Matt Mckenzie and Katie McDonald discuss the GST debate, Kerry Stokes and gas sector deals, WA's resource sector outlook, local content on big projects, population growth and residential builders.

Food & WineView all

Nothing off the table as Jesters bakes fresh plan

A new strategy, rebrand and expansion into different selling channels are all part of Robert West’s plan to revamp Jesters Pies.

Hospitality a key ingredient at new InterContinental

Smart design, new hospitality offerings, and local business partnerships are core ingredients of the InterContinental Perth City Centre hotel’s strategy to position itself for long-term success in the CBD.

No way to rebottle the retail genie

ANALYSIS: New retail arrivals continue to pile pressure on established operators, with Wesfarmers feeling the pain on several fronts.

‘Mind-blowing’ recognition for Limeburners

Internationally renowned whisky reviewer Jim Murray has labelled Limeburners’ Darkest Winter whisky the best drop in the Southern Hemisphere.

Opportunity brewing at Whitfords

The recent revamp of Westfield Whitford City’s hospitality precinct crafted the perfect business opportunity for Beerland Brewing to open its second venue today.

Special ReportsView all

Corporate Finance September 2017

Corporate Finance September 2017

09 October 2017

Edtech firms show funding options

Hartleys leads on capital deals
Edtech businesses take different funding paths
Gold prospects

Gold prospects

26 September 2017

Royalty hike threatens big spending plans.

Royalty rise puts damper on gold spend plans
Emerging producers tackle challenges
Recruitment sector

Recruitment sector

18 September 2017

WA recruiters diversify business models

Recruiters adapt to a changing marketplace
Visa changes move goals for business

MiningView all

Mining innovation hub for Kalgoorlie

A cooperative research centre focused on minerals extraction has teamed up with mining industry groups and training providers to announce plans for an innovation hub based in Kalgoorlie.

Local share volatility follows Barrick's Tanzania plan

Global miner Barrick Gold has announced a deal with the Tanzanian government that involves a 50:50 sharing of benefits from its operations in the country, prompting sharp price movements in local stocks exposed to the region.

Northern Star looks beyond 600,000oz target

Gold miner Northern Star Resources has posted a comfortable quarterly result, with funds committed to expand production beyond its 2018 output target of 600,000 ounces per annum.

South32 warns on costs but keeps guidance

South32 shares have dipped after the diversified miner warned it may be facing cost pressures from rising raw material input costs and a weaker US dollar.

Battery lowers project costs

David Flanagan-led graphite explorer Battery Minerals has slashed the development cost of its Montepuez project in Mozambique by two-thirds, as the company restructures its plans for the operation.

OpinionView all

Hopes for GST ‘floor’ misplaced

OPINION: It will be every state for itself when the Productivity Commission’s report into the GST distribution is released in January.

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss housing affordability, privatisation and infrastructure, mining projects, distilleries, Black Monday anniversary and our special report on ICT looking at cloud computing, big data and internet of things.

New order not to everyone’s taste

OPINION: It has been three decades since I lost my first job, almost before I had started it, as the implications of the Black Monday stock market crash became clear to my employer.

Time to talk about bots

OPINION: There has been a quiet revolution going on in the way businesses operate, thanks to something you may not have even heard of yet – chatbots.

Mark my words podcast

In this Business News podcast Mark Beyer, Mark Pownall and Matt Mckenzie discuss Rod Jones, Feral Brewing, state finances, Tronox and WA exporters.

RetailView all

Lew urges Myer to reveal sales figures

Retail veteran Solomon Lew is urging Myer to prove its recent claims that the department store chain's fortunes are turning around.

Woolworths closes door on Masters saga

Shares in Woolworths have fallen after the supermarket giant finalised its exit from its disastrous Masters hardware venture by completing the sale of its store sites.

Borgioli right at home on King Street

It was in the aftermath of a profoundly emotional moment that Terence Borgioli, then 23, decided to chase his dream of starting a luxury fashion business.

Car sales shed August gains

New car sales in Western Australia dipped back into the red last month after showing rare signs of improvement in August.

Kathmandu lifts profit by 14%

Adventure gear retailer Kathmandu's annual profit has risen 13.5 per cent, thanks to strong sales, innovative products and cost cuts.

Most viewed people

Patrick Burke

Patrick Burke

Director, Intercept Minerals
Executive Director (Executive Chair since 2016), ATC Alloys
Non-Executive Deputy Chair, Triton Minerals
Director, Uranium Resources
Non-Executive Director, Bligh Resources

Anna MacKintosh

Anna MacKintosh

Company Secretary, Chief Financial Officer, Kalia
Company Secretary, Marquee Resources

John Poynton

John Poynton

Director, Linc Property
Non-Executive Chairman, Giving West
Council Chairman, Christ Church Grammar School
Non-Executive Chairman, Warrington Property Group
Non-Executive Chairman, Jindalee Partners
Non-Executive Director, Crown Perth
Non-Executive Chairman, Strike Energy
Board of Guardians, Future Fund

Martin Kavanagh

Martin Kavanagh

Former Executive Director (since 2006), Deep Yellow
Former Executive Director (since 1995)
(Non-Executive Director 2003-2007), Tanami Gold

Grant Grosser

Grant Grosser

Founder, CEO (Director, Product Strategy &
Business Development 2011-2015), SEQTA Software
Director, Product &
Innovation, Education Horizons Group

Thought LeadershipView all

Do you have a Moth Culture?

It is 6.30pm and we still have many employees sitting at their desks. George is online shopping.... Sarah is on Facebook organising dinner with friends.

Innovation key to new generation of homebuyers

There’s a transformation underway in the property sector across Australia. The market needs and wants greater housing choice than ever before, and the challenge is for developers, builders, planners and policy makers to keep up.

Out with Dobbin’s horse – The shift to EV is under way

Over the past six months, there have been a number of articles written about the increased demand for electric vehicles and how this is likely to accelerate over the coming decades.

Want to lower costs AND improve productivity by 30%?

In 2007, Google created a dedicated analytics team to support their People Operations (Human Resources) function and thus coined the term people analytics.

FOCUS ON CYBER SECURITY

Leading-edge data and information security services are needed at a time when cyber threats are ever-present, and growing.