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

Corporate Finance DealsView all

ATO ruling halts $508m auto deal

Perth investor Andrew Hopkins’ planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.

Eve in $3m buy

Subiaco-based Eve Investments has purchased tea tree oil business Jenbrook in cash and scrip for about $3.4 million.

Fleetwood sells caravan business for $1m

Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.

BP backs out of Woolworths petrol deal

BP Australia has backed out of a deal with Woolworths to buy its petrol business more than six months after the consumer watchdog rejected the deal.

Local tech firms raise $13m

Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.

Most CommentedView all

UWA moves into top 200 world ranking

The University of Western Australia has moved into the top 200 of the Centre for World University Rankings list, while Curtin University also jumped 135 spots in the latest annual results.

Activate Perth makes first move

A new association is aiming to liven up the streets of the CBD and fill its empty spaces with startups and creative enterprises via short-term and rent-free rolling leases.

Quintis offered $175m recapitalisation deal

The creditors of sandalwood company Quintis, led by US group Blackrock, have proposed injecting $175 million to take control of the business, in a deal that is likely to leave shareholders with no return.

Indigenous gallery creates interest at Watertown

A team of talented young indigenous artists has brought colour to the walls of a retail space in Watertown, owned by Lendlease, with the opening of a new gallery led by 21-year-old Noongar man Peter Farmer Jnr.

BGC sale a unique opportunity

BGC’s vertically integrated structure is unlike any other business in Australia and will narrow the field of potential buyers.

Politics & the EconomyView all

Tax relief flows west

A greater proportion of Western Australian taxpayers are likely to benefit from immediate changes to tax thresholds passed through parliament yesterday than other states, according to Business News analysis of Australian Taxation Office data.

$144bn tax plan passes Senate

Nearly three in four taxpayers will pay a marginal tax rate of 32.5 per cent from 2025, with the government’s plan to flatten the income tax system approved by the Senate today, despite moves to lower company tax still stalled.

WA population grows 0.8%

Western Australia’s population growth remains subdued, with the state recording a 0.8 per cent increase for the 12 months to December, according to the latest data from the Australian Bureau of Statistics.

Pilbara leads spike in WA job vacancies

Job vacancies in the Pilbara and Kimberley regions hit their highest level in four years in May, as demand for engineers, IT professionals and automotive trade workers in Western Australia takes off.

Ashburton, Peppermint Grove nation's highest income locales

Western Australians still have higher median incomes than those in other states despite recent softening, according to data released today, with Ashburton and Peppermint Grove the nation’s top local government areas by the measure.

Upcoming Business News EventsView all

Beaumonde On The Point (upstairs ballroom and function centre), 306 Riverside Drive, East Perth - 27 June 2018

Grand Ballroom, Hyatt Regency Perth - 25 July 2018

PropertyView all

Yolk to transform Champion Lakes

Yolk Property Group, in partnership with Southern Cross Care, will develop one of the last remaining sites at the Metropolitan Redevelopment Authority’s Champion Lakes residential development, with plans for more than 100 new dwellings along with a wellness, aged care and retirement precinct.

Moody's tips Perth house price recovery in 2019

Perth’s house values will decline for another year but are tipped to recover in 2019, a report released today has found, conflicting with an ANZ analysis from earlier this week that predicted further house price falls for the state in the next two years.

BGC hotel assets on the market

BGC Australia has kicked off its asset sale program with the listing of the recently completed Westin Perth and Aloft Perth hotels, along with an adjoining commercial office building in Rivervale, a CBD development site and a neighbouring food and beverage precinct.

Sandover Pinder to connect with clients as Carabiner

After more than two decades as Sandover Pinder, the local architecture firm has changed its name to Carabiner – a rebrand its directors say better reflects the business as the link between clients’ needs and good design.

Westpoint saga continues in courts

In the latest article in our 25-year anniversary series, we look at the 2006 collapse of Norm Carey’s Westpoint group and the continuing legal battles.

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

State Shaper recipient Stan Perron donates $10m to neurological research

Stan and Jean Perron have announced they will be donating $10 million across 10 years to the Perron Institute for Neurological and Translational Science, adding to a multitude of reasons Mr Perron was awarded State Shaper by The 500 Club today.

CEOs raise $500k in Sleepout

Sixty-three Perth business leaders slept rough last night for the Vinnies CEO Sleepout, raising about $513,000 to go towards alleviating homelessness.

Subiaco brings opportunities for artists

The positive response to the Subiaco Theatre Festival has led to a near doubling in the size of the annual event this year.

Festivals claim $127m impact

The state’s two leading arts festivals have a large role to play in the cultural and creative vibrancy of Perth during the summer months, according to their impact reports released this week.

Artist uses business success to back fundraiser

Broome-based artist Helen Norton has combined an entrepreneurial and adventurous spirit with her artistic skills to forge a successful career over the past three decades.

EnergyView all

Power Ledger in Silicon Valley electric car deal

Perth-based blockchain business Power Ledger has signed a deal to work on an electric vehicle charging project in California’s Silicon Valley.

WA rooftop solar to triple: AEMO

Rooftop solar capacity across Perth and surrounds will nearly triple in the next decade, to be about 2.3 gigawatts, as the Australian Energy Market Operator confirmed current capacity and demand side management was sufficient to meet forecast demand on the South West Interconnected System power network.

Tudor heads east from Horizon

Frank Tudor has resigned as managing director of Horizon Power to take the reins of eastern states energy player Jemena.

Horizon Power awards Onslow solar contracts

Horizon Power has awarded contracts to CPS National and Contract Power Group for the construction of a solar farm and battery storage in Onslow.

Onslow marine base set to expand

The state government has signed off on a $16.8 million Northern Australia Infrastructure Facility loan for the stage two expansion of Onslow Marine Support Base, located at Beadon Creek and operated by Kuwait-based Agility Logistics.

"Mark My Words" PodcastsView all

22 June 2018

PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.

15 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss BHP’s new iron ore mine, plus more good news on lithium and nickel, the battle over Atlas Iron and shipping rights at Port Hedland, Perth house prices – which suburbs have delivered the best long-term returns, and our special report on infrastructure.

08 June 2018

PODCAST: Mark Beyer, Matt Mckenzie, and Katie McDonald discuss the latest economic growth data, three intriguing takeover prospects (Atlas Iron, HBF, BGC), stockmarket floats, including Primero group, agricultural projects in WA's north, the continuing debate over fly-in-fly-out, and our special report on Perth apartment projects.

01 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss FMG expansion, Quintis, Cooper & Oxley, defence contracts, Immersive Technologies, and our special report on distilleries and breweries.

25 May 2018

PODCAST: In this Business News podcast Mark Pownall and Mark Beyer discuss BGC, Wesfarmers, National Lifestyle Villages, battery plant speculation, blockchain, and our special report is information and communications technology.

Food & WineView all

Vic Park bar voted best in Australia

Victoria Park bar the Dutch Trading Co has been named the best beer venue in the country, as judged by a panel of 23 industry leaders coordinated by Beer and Brewer Magazine.

Gage Roads buys Matso's for $16m

Gage Roads Brewing Company has struck a deal to purchase Matso’s Broome Brewery for $16.1 million, along with a $12 million capital raising to fund the acquisition.

WA brewery tops international competition

The local beer label behind Northbridge Brewing Company and Whitfords Brewing Company has won the top prize at Australia’s most renowned beer competition, hosted in Melbourne last night.

King of Queen Street lifts veil on new Moroccan bar

With the outlook for the small bar sector becoming more positive, hospitality entrepreneur Andy Freeman has embarked on a $2 million Moroccan-themed venue in Perth’s east end.

Tiny’s brings big energy to QV1

A new bar at Perth’s QV1 is aiming to make a big splash in Perth’s west end.

Special ReportsView all

Infrastructure contractors

Infrastructure contractors

18 June 2018

Transport, energy projects create opportunities

Labour challenge looms as work ebbs and flows
State still sorting contracts
From Bibra Lake to the Big Apple
Contractors switch on for next generation of power
Breweries & Distilleries

Breweries & Distilleries

05 June 2018

New products and venues as sector matures

Locals develop a taste for distilling gin
Provenance and innovation key as local brewers get crafty
Stallwood on track to Nail craft brews
ICT – small business 2018

ICT – small business 2018

28 May 2018

ICT convergence changes market
Data #3 expands into CBD
Giving Well 2018

Giving Well 2018

21 May 2018

Philanthropists, charities changing focus

Structure, strategy fuel funding
Events still deliver the goods
Giving with intent when done on Purposed

MiningView all

Cimic wins $225m BHP contract

CIMIC Group has secured a $225 million mining services contract at BHP Billiton’s Rocky’s Reward nickel project, located 400 kilometres north of Kalgoorlie.

Maca and Beadell end Brazil contract

Perth companies MACA and gold producer Beadell Resources have agreed to terminate a mining services contract at Beadell’s Tucano project in Brazil, leaving the miner to repay a $61 million loan.

Marindi sells Pilbara gold asset

Marindi Metals has agreed to sell its Bellary Dome conglomerate gold project in the Pilbara to Canada-listed Pacton Gold in a cash-and-scrip deal worth up to $11 million.

Atlas recommends $390m Rinehart takeover

Atlas Iron's board has backed a takeover bid by billionaire Gina Rinehart after rival bidder Mineral Resources pulled out of contention.

Capricorn drops capital cost to $132m

Capricorn Metals has flagged a reduction in the capital cost of its planned Karlawinda gold project near Newman to $132 million following an optimisation study.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.

Electric cars struggle to get pedal to the metal

Analysis: Rising supplies of battery metals, and sluggish demand for electric vehicles worldwide, are challenging local players in the sector.

Positive spin helps spark sales

Any day is only as ‘bad’ as you let yourself believe it is, and the same is true on the upside.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss BHP’s new iron ore mine, plus more good news on lithium and nickel, the battle over Atlas Iron and shipping rights at Port Hedland, Perth house prices – which suburbs have delivered the best long-term returns, and our special report on infrastructure.

Ticking the boxes on eligibility

Opinion: A big weekend of by-elections could have been avoided if tighter candidate guidelines were in place.

RetailView all

Kambo's into administration

Customers of local whitegoods and home appliance retailers Kambo’s and Liebe + Haus have been told they will need to wait several days before finding out if their credit purchases are still valid after the two jointly-owned businesses were placed into administration on Friday.

Wesfarmers pledges focus on returns

Wesfarmers bosses have vowed to focus on delivering returns to shareholders after the company's disastrous foray into the UK hardware market.

Metcash to take $352m hit

Metcash will take a $352 million hit in its full-year results due to weakness in the Western Australian economy and the decision of one of its South Australian supermarket customers not to renew its contract.

Westfield shareholders approve takeover

Westfield Corporation shareholders have voted in favour of a $33 billion takeover by Paris property giant Unibail-Rodamco, marking the end of an era for the Lowy family.

Wesfarmers leadership changes

Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.

Most viewed people

Mark Norwell

Mark Norwell

Executive General Manager, Strategy &
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John Poynton

John Poynton

Director, Linc Property
Non-Executive Chairman, Giving West
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Non-Executive Chairman, Jindalee Partners
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Board of Guardians, Future Fund

Wayne Bramwell

Wayne Bramwell

Non-Executive Director, Ardea Resources
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Sonia Tait

Sonia Tait

Regional Manager, Mid West, Shooting Stars

Bert Mondello

Bert Mondello

Executive Director, Chief Executive Officer, ZipTel
Non-Executive Director, WestStar Industrial
Non-Executive Chairman, Servtech Global Holdings
Head of Corporate, Regency Corporate
Non-Executive Chair, Emerge Gaming

Thought LeadershipView all

Breaking into the global marketplace

With the rise of globalisation comes the increasing demand for businesses to expand into international markets in order to stay competitive. This can create significant opportunities for organisations of all sizes, however it can also pose a great risk if approached in the wrong way.

Helping people with no choices

Imagine what you would do if you found yourself homeless, if you lost your job and couldn’t pay your bills, if you couldn’t provide a meal for yourself or your family, if you didn’t have a safe and se

How the GDPR affects you, even if you think it doesn’t

You’ve probably heard about the GDPR, but have you taken action in time for the 25 May enforcement date? Here’s my quickstart guide to compliance for Australian businesses.

If you don’t test your DR strategy how can your organisation be IT Resilient?

I.T. has come a long way since the days of merely providing a computer, mouse, and keyboard to its employees. Technology is now fundamental to the operation of any business.

Help – It’s performance review time!

My fellow graduates and I feel unsure about how well we will fit into a new workplace, and how other employees and management will treat us.