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

Corporate Finance DealsView all

Juniors in $26m of deals

Six local resources companies have announced capital raisings of around $26 million for projects including in lithium and rare earths, with one of the businesses, Okapi Resources, planning to join the ASX bourse.

Gascoyne in $60m facility for gold project

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Shares jump on Xanadu result

Shares in three local energy companies have surged today after hitting hydrocarbons while drilling the Xanadu-1 offshore prospect in the Perth Basin, with Triangle Energy leading the charge, up nearly 60 per cent.

Ramelius buys Evolution's Edna May for $90m

Ramelius Resources is set to become a 200,000 ounces per annum gold producer after acquiring Evolution Mining’s Edna May operation near Merredin for up to $90 million in cash and shares.

Servtech sells rent roll for $1.5m

Osborne Park-based software as a service provider Servtech Global has agreed to sell its rent roll business in two parcels totalling $1.5 million to Summit Development Corporation, part of the Summit Homes Group, and Housemart Real Estate.

Most CommentedView all

Work ethic under threat from AI

OPINION: Political and business leaders need to figure out how to manage the relentless march towards a more automated future, as failure to do so risks enormous social upheaval.

Forrest calls on ARU chairman to quit

Andrew Forrest has called on Cameron Clyne to resign, claiming the ARU chairman misrepresented the reasons he chose to axe the Western Force.

Playing catch-up not a winning strategy

OPINION: As technology increasingly cuts out the middleman, the WA government’s investment in facilities at Perth Airport may have short-lived benefits.

Eastern, migme miss ASX payment

Eastern Goldfields and migme are among a number of companies to have missed paying their annual ASX listing fees, risking removal from the register.

Fremantle Octopus to extend reach

Fremantle Octopus hopes a new trap and some extra cash will propel its business into a much broader marketplace.

Politics & the EconomyView all

State aims for 50% women on boards

The state government has set itself the target of increasing the number of women appointed to its boards, committees and advisory bodies to 50 per cent by 2019, though it has a long way to go before hitting gender equality at its major trading enterprises.

Visa changes move goals for business

SPECIAL REPORT: Stricter visa rules are making it harder for businesses in WA to explore overseas options to meet their skilled labour needs

Recruiters adapt to a changing marketplace

SPECIAL REPORT: A possible skills shortage is among the challenges facing WA recruiters, amid an uptick in mining and hiring across the board.

Kobelke to head Swan Valley inquiry

Former police minister and Labor member for Balcatta, John Kobelke, has been appointed to head a review of the Swan Valley’s planning framework, Planning Minister Rita Saffioti announced today.

WA unemployment up to 5.9%

Unemployment jumped 0.5 percentage points in August to a seasonally adjusted 5.9 per cent in Western Australia, according to the Australian Bureau of Statistics.

Upcoming Business News EventsView all

Hyatt Regency Perth - 28 November 2017

Winners announced - 07 March 2018

PropertyView all

Transport noise policy revamp

Striking a balance between transport corridors and urban development is the main objective of a revised planning policy that aims to mitigate road and rail noise for new residential projects.

Liar loans symptomatic of poor home loan practices

ANALYSIS: If a full-blown mortgage crisis were to hit Australia, it will have been brought about by mismanagement at all stages of the home-loan process.

Perth property down 8.8% in three years

Perth residential property prices fell 0.8 per cent in the June quarter, to be down 3.1 per cent across the financial year, according to data released by the Australian Bureau of Statistics today.

City retail strip to become student accommodation

The new owner of 335 Wellington Street, home to the Wellington Surplus Stores for 75 years, has lodged an application with the City of Perth to build a $70 million student accommodation building.

Kings Square promises unique Freo offering

Property developer Sirona Capital has today unveiled plans for the 5,500 square metres-plus retail component of its $270 million Kings Square project in Fremantle.

Arts & CommunityView all

Entrepreneurs stitch-up sweet live music deal

A Murray Street basement once home to the pattern cutters and seamstresses of Perth fashion label Pierucci is set to become the city’s newest live music venue, The Sewing Room.

Artist in residence with Hugh Brown

Documentary photographer Hugh Brown first picked up a camera in 1998 when he fell in love with Western Australia’s red-earthed Kimberley, and the journey that started nearly two decades ago shows no sign of ending.

Creative approach to community change

SPECIAL REPORT: On the runway and in the shopfront, fashion has become an instrument for changemakers who want to make a difference in the community.

Offshore, onshore success by design

SPECIAL REPORT: Whether they’re manufacturing locally or abroad, WA fashion designers and garment makers are still winning contracts and stockists here and overseas.

Bottom-line savings key for Tough’s asthma funds fight

Samantha Tough has developed a new strategy for the Asthma Foundation WA in light of a 60 per cent cut to federal funding.

EnergyView all

Horizon beats subsidy cut target

State-owned regional power provider Horizon Power has recorded a $35.4 million net profit for the year to June, while hitting its targeted reduction of government subsidies more than a year ahead of time.

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

Empire production assets under receivership

Updated: Empire Oil & Gas has appointed voluntary administrators to its wholly-owned Empire Oil subsidiary, which controls its core Red Gully assets.

Turnbull to stare down energy revolt on backbench

Malcolm Turnbull is staring down coalition backbenchers concerned that a proposed clean energy target could push up power prices and undermine coal-fired power.

Contract Power to build, run, Pilgangoora power

Contract Power Group has won a contract to build, own and operate a power station at Pilbara Minerals’ Pilgangoora lithium project for at least seven years, while former Fortescue Metals Group delivery manager Dale Henderson has taken over as Pilbara’s project director.

"Mark My Words" PodcastsView all

15 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss Nev Power leaving FMG, safe harbour legislation, women on WA boards, stamp duty setback and labour markets.

11 September 2017

Tertiary education may not have sat comfortably with Justin Miller, but his connections to Curtin University have played an important role in the development of his Sensear and Nuheara businesses.

08 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss the state budget, contractor collapses, Lisa Scaffidi, advertising industry, ageing population and corporate wellness.

01 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss WA entrepreneurs, manufacturing merger, recycling deal, retail property, the sports stadium and the fashion industry.

28 August 2017

Valerie Davies has a background in media and communications, but her public role today is as a board member of Cedar Woods, Event Hospitality & Entertainment, HBF and the WA Tourism Commission, as well as running her own consultancy.

Food & WineView all

WA considers minimum price on alcohol

The state government is considering enforcing a floor price on takeaway booze to stop people getting drunk on cheap alcohol, but the opposition says it is a cost impost on households and red tape burden on businesses.

WA venues win national awards

Four Perth hotels and hospitality businesses, including Fraser Suites and the State Buildings, have been named best in their field at the annual Australian Hotels Association National Awards for Excellence.

Cheeky Monkey on board Singapore Airlines flights

Margaret River's Cheeky Monkey Brewery Co is celebrating today with news Singapore Airlines will offer its locally brewed craft beer on business class flights between Perth and Singapore.

Howard Park Wines sparkles in world championship win

Howard Park Wines recently flaunted its fizz at the Champagne & Sparkling Wine World Championships held in London, with its Jeté label winning the award for ‘best Australian sparkling wine’.

Liquor reform to benefit tourism operators

Accredited tourism businesses will be able to provide complimentary alcohol without a liquor licence, following changes to the state’s liquor regulations announced today.

MiningView all

Seven Group buys out Coates Hire

Kerry Stokes' Seven Group Holdings has announced it will buy the remaining half of its stake in equipment hire company, Coates Hire, for $517 million.

MinRes, Galaxy trade blows over director

Perth companies Mineral Resources and Galaxy Resources have waded into an extraordinary dispute over their respective corporate governance standards, triggered by the role played by Chinese businesswoman Xi Xi.

WA gold industry holds anti-tax rally

A thousand gold industry members gathered at a rally in Kalgoorlie today to protest the McGowan government’s proposed gold royalty increase.

MZI to upgrade Keysbrook

Mineral sands miner MZI Resources will spend $5 million to significantly upgrade the output capacity of its Keysbrook operation near Serpentine, which has been underperforming since it came online in 2015.

Rio Tinto CFO to retire

Rio Tinto chief financial officer Chris Lynch will retire next year after more than four years in the role.

OpinionView all

Targeted tech funding vital

OPINION: While the dollar amounts are small, the recent state budget contained some positive news for startups and the tech sector.

Solid steps ensure customer loyalty

OPINION: Before you receive loyalty from your customers, you’ll need to show some within your own workplace.

Playing catch-up not a winning strategy

OPINION: As technology increasingly cuts out the middleman, the WA government’s investment in facilities at Perth Airport may have short-lived benefits.

Housing failures compounded by fractured oversight regime

OPINION: The lack of national oversight of home construction activity puts small investors in a vulnerable position.

GST stoush drives WA-first push

OPINION: The idea of forming a new political party to run Senate candidates on a Western Australia-first platform appears to have come to a number of people at the same time.

RetailView all

Remuneration boost for Goyder, Mackenzie

Wesfarmers managing director Richard Goyder landed a $12.1 million pay packet in his final full year in charge of the Coles and Bunnings operator, while BHP Billiton chief executive Andrew Mackenzie also lifted his total income, but he remained a long way short of the Perth businessman.

Perth stores safe, for now, as Myer cuts back

Myer's six Perth stores appear to have escaped the chop, with the retailer instead closing an additional three interstate stores as it struggles to turn around sluggish sales amid weak consumer spending and growing industry competition.

Blossoming Profresh a cut above

Floral wholesaler Profresh has grown from a one-person business into a team of almost 15, generating $3 million in revenue in just its second year of commercial operations

AHG profit down but outlook positive

Perth-based Automotive Holdings Group has delivered a lower full-year net profit result on the back of restructures and one-off costs associated with its refrigerated logistics business.

Steel Blue: hard-wearing, not hard to wear

PHOTO ESSAY: Work boot company Steel Blue has shown niche, quality-focused manufacturing has a place in Western Australia.

Thought LeadershipView all

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. 

Maritime issues In The Zone

The annual ‘In The Zone’ conference encourages Western Australians to think globally and, specifically, to look north.

Babies and Business are not Mutually Exclusive

Nearly two in every five employees have caring responsibilities for children; so, chances are your business employs one or more working parents.

Will the right location give your small business the edge?

According to the recent Bankwest Curtin Economics Centre report entitled “The Engine Room for Growth? - The Role, Performance and Future Prospects of Small Business in Western Australia”, small business accounts for 97 per cent of all businesses in the State, has a value added contribution of $39.7 billion, and accounts for 41 per cent (512,000 persons) of WA’s overall employment.