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

Corporate Finance DealsView all

Elders makes $187m takeover bid for AIRR

Elders has made a $187 million scrip and cash offer for unlisted private wholesale buying group Australian Independent Rural Retailers.

VRX signs Muchea silica deal

Shares in VRX Silica have surged to 16 cents today, a rise of 33 per cent, after it entered into a strategic alliance with China Southern Glass related to its Muchea silica sand project.

Private M&A boosts deals flow

The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.

Kingwest buys gold projects for $8m

Intermin Resources has reached an agreement to sell its Menzies and Goongarrie gold projects for a cash-and-scrip consideration of $8 million.

Yukich pulls Blue Cow from administration

Graeme Yukich’s European Foods has purchased Blue Cow Cheese, which went into administration last month.

Politics & the EconomyView all

Freo commerce chamber slams media report

The Fremantle Chamber of Commerce has hit back at an article in The West Australian which cast doubt on Fremantle’s economic growth potential.

Chinese firm faces WA land clearing charge

The WA government is considering prosecuting a Chinese company over unauthorised land clearing at a pastoral station in the state's north, as shocked traditional owners say important flora including boab trees have been ripped up.

Fairness concern in taxi buy-back

Investors who bought taxi plates as prices fell after Uber entered the market could receive more compensation than long-term drivers, as payments under the state government’s taxi buy-back scheme begin flowing this month.

Labour supply pressure point

Demand for construction workers in Western Australia could double within 12 months, putting pressure on wages and schedules, according to an industry analyst.

Albo weighs in on Perth 'meth zombie' statement

WA opposition leader Liza Harvey's blaming of "meth zombies" for Perth's weak retail sector talks down the WA capital, Labor leader Anthony Albanese says.

PropertyView all

Prices for houses weaken, units improve

The latest REIWA data has confirmed more bad news for those looking to sell their house, but the prices of units experienced a surge in the June quarter.

Marriott bringing its Moxy to Perth

The world’s biggest hotel chain is bringing one of its newest brands to Western Australia, with a Moxy Hotel to be built at 195 Hay Street in East Perth.

Costco has $50m Kwinana store in its sights

The City of Kwinana could become home to one of two Costco stores planned for Perth, after the Western Australian Planning Commission approved changes to planning guidelines to facilitate its development.

Building starts on Applecross, Scarborough apartments

Construction has started this week on two apartment projects with a collective end value of $126 million, with Norup + Wilson launching its Beach Shack in Scarborough and Baltinas starting to build its Habitat Residences in Applecross.

Podcast: Office Hours with Damian Stone

Office Hours host Damian Stone is joined by one of Perth's foremost retail experts in Lease Equity's Jim Tsagalis, discussing retail challenges in Perth's CBD and high streets, major centre redevelopments and the wider retail environment. Later, Perth MLA John Carey joins Office Hours to talk about what's gone wrong on Beaufort Street, and what can be done to revive the once-popular shopping and hospitality destination.

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..

Arts & CommunityView all

Writing WA turns the page

Writing WA occupies a unique position in both the arts and business communities in Western Australia.

Black Swan reveals financial strain

WA’s major theatre company has reported a sharp fall in box office sales for the fourth year in succession, along with a small operating surplus, with a big donation from Minderoo Foundation helping to bolster its financial position.

Following Footsteps to self-sufficiency

Keegan Crage has launched an intensive, outcomes-based program called Footsteps to help lift people out of homelessness.

Grant means no need to borrow for The Faim

Perth-based band The Faim had something of a breakthrough year in 2017.

Govt to spend extra $30m on community services

The state government says it will reverse indexation changes made by the previous Liberal National Government, and commit an additional $30.2 million to the community services sector.

EnergyView all

Twisted outcomes on the grid

Uptake of rooftop solar is being severely distorted by a flawed pricing structure for electricity, forcing higher costs across the grid, according to one of Australia’s leading authorities on energy markets.

NAIF awards $610m loan

Genex Power has secured a $610 million federal government loan to help finance its 250-megawatt pumped hydro project in far north Queensland.

State government announces millions in funding for Collie

Regional Development Minister Alannah MacTiernan announced the Collie Future investment prospectus this morning, touting millions of dollars in funding for the regional town.

Isolation brings positive push for microgrids

The vast emptiness of WA has proved to be an advantage when developing skills in the rollout of new electricity technology.

$123m for minesite microgrids

Two microgrid projects worth a combined $123 million have moved forward today as the technology becomes increasingly mainstream, with Gold Fields and GMA Garnet mine sites to have big renewable power and storage components.

Food & WineView all

Rebelles aspire for Beaufort St revival

Liam and Sarah Atkinson have made what some might say is a rebellious move, taking the plunge and setting up a restaurant in the underperforming Beaufort Street precinct.

Blue Cow into administration

Food distributor Blue Cow Cheese has been placed into administration, with Cor Cordis’s Joseph Nipps and Clifford Rocke appointed as administrators.

Collins Foods lifts FY profit 20% to $39m

Collins Foods has lifted its payout to shareholders after strong sales at its Australian KFC network helped the company boost full-year profit 20.3 per cent to $39.1 million.

Miss Chow’s continues rapid expansion

Jacquie Chan is set for a busy few weeks, with four new venues under the Miss Chow’s Group banner set to open by the end of July.

Hot prospects for Bunsters

One of Perth’s sauciest companies is seeking a $5 million valuation with a hand from the Perth Angels.

Special ReportsView all

Apartment developers 2019

Apartment developers 2019

15 July 2019

Heightened levels of competition are driving a design renaissance in Perth’s apartment market, as the city’s top developers stake their claim to market segments by establishing a point of difference through innovation and experimentation.

Design, innovation top priorities list
Canning Bridge an apartment hotspot
Great for the State – Edition 4: Indigenous Development

Great for the State – Edition 4: Indigenous Development

02 July 2019

In the fourth edition of Great for the State, we analyse the impact of Reconciliation Action Plans, report on four charities targeting Aboriginal youth development, and profile six prominent Aboriginal leaders:
- Business entrepreneur Barry McGuire

RAPs elevate words into tangible deeds
Milroy maintains fight  for Australia’s children
McGuire  business in  the bloodline
Wyatt’s old wounds still scarred
Indigenous Business

Indigenous Business

01 July 2019

  • We analyse Aboriginal procurement programs run by the federal and state governments
  • Talk to IPS Management Consultants and the Noongar Chamber of Commerce
  • Provide the latest news on contracts won by indigenous businesses
  • Update our BNiQ lists of WA's largest indige

Indigenous business thrives on opportunity
Contracts play practical role for community
Rising Stars 2019

Rising Stars 2019

26 June 2019

Masters & Co leads talented cohort of fast-growing businesses

Masters a study in service
Lithium growth sparks MSP
Magellan sets out long-term goals
Teck Global solution powers growth
Defence

Defence

17 June 2019

WA businesses are positioning themselves to participate in the national shipbuilding supply chain and longer term, have a strong chance to create a sustainment hub in Perth.

Our feature highlights:

WA defence sector aims to build on contract wins
Blacktree broadcasts from Belmont to Britain and places in between
Matrix the one for neo-materials
Local defence ecosystem  grows business

MiningView all

Worsley set to operate at nameplate

South32 expects to reach nameplate capacity at its Worsley alumina operation this financial year, and revealed its coking coal production rose sharply from the year prior.

Calidus PFS reveals $95m Pilbara gold project

The pre-feasibility study of Calidus Resources’ Warrawoona gold project in the Pilbara has detailed a $95 million capital cost.

Port Hedland iron ore exports fall for FY19

The port of Port Hedland recorded a fall in iron ore exports for the 2019 fiscal year, with its major customer BHP today disclosing a decline in its annual production

Arafura raising falls short of target

Arafura Resources’ rights issue has only raised only around a third of its $23.2 million target, with underwriter Patersons Securities set to be issued with $7.9 million worth of shares.

Galaxy beats guidance

Galaxy Resources has reported strong production results in the June quarter, after it exceeded its guidance at the Mt Cattlin lithium operation despite shipment delays.

OpinionView all

Investment in quality counts

OPINION: Good journalism and a business model that supports it are vital for success in today’s media landscape.

New trade climate not so nice

OPINION: Now might be a good time for a walk down memory lane in terms of trade and business, particularly given the behaviour of some of the world’s major economies and political players.

Mark my words podcast

PODCAST: Dan Wilkie and Matt Mckenzie discuss Manchester United, Gemmill Homes, BGC asset sales, office rents, Blue Cow Cheese, solar storage, apartment development.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Berrington Care Group, house prices, lithium projects cost, new retail and hospitality ventures, Minderoo plans, lotto fallout, and our special report on corporate finance.

Promoting Perth’s all-round appeal

OPINION: The WA capital’s great natural environment has seemingly blinded its residents to the other aspects that make the city a great place to live.

RetailView all

Michael Hill underpaid staff by millions

Michael Hill International says it will spend $10 million to $25 million to compensate employees who were underpaid over a six-year period.

State seeks museum proposals

The state government is calling for food, beverage and retail businesses to submit proposals to operate three commercial spaces in the new museum.

Woolworths to offload liquor and gaming

Supermarket giant Woolworths is combining its liquor and hospitality businesses ahead of a divestment next year.

Access key to online sales growth

The fact that online retail still comprises a relatively small part of total sales is cold comfort to bricks-and-mortar businesses.

ACCC concerned about AHG takeover

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

SkylineView all

Skyline

Property Council cautiously backs noise reforms

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.

Hibernian Place tops UDIA awards

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.

Regus takes space at new Raine Square office

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Access key at Linc industrial estate

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

The Village Margaret River on the market

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

Bulls N' Bears

Madagascar backs BlackEarth graphite project

The Madagascan Government has offered to fast-track development of BlackEarth Minerals’ flagship Maniry graphite project, after a positive meeting with the country’s Minister of Mine and Strategic Resources. A German specialist industrial mineral testing outfit has also begun a program for evaluating the company’s ore concentrates for battery testing, while a Chinese institute has independently confirmed the premium quality of the project’s ores.

Vonex exceeds 30,000 PABX users

Vonex’s core cloud-based PABX telephony business continues to go from strength to strength with the ASX-listed telco now counting a milestone 30,000 registered active users on its books, a 25% increase in the last 12 months. The company also recorded new customer sales value of more than $1.3 million in the June 2019 quarter, which represents a 44% increase from the previous quarter.

Lithium Australia finds more lepidolite at Youanmi

Lithium Australia has continued to intersect wide pegmatite intervals with lithium mineralisation from its first pass reverse circulation drilling program at the Youanmi project near Sandstone in WA’s Murchison region. Lepidolite mineralisation has been intersected in most holes drilled to date in the program, which will be used to assess the resource potential and geometry of the pegmatites.

Warrawoona gold PFS shows $61m a year for Calidus

Calidus Resources’ PFS for its flagship Warrawoona gold project located near Marble Bar, WA, will churn out $61m per annum in free, pre-tax cashflows over an initial mine life of six years. Based on an AUD$1,800 per ounce gold price and production of about 100,000 ounces per year through a conventional 2Mtpa plant, the project has an estimated pre-tax NPV of $151m and an IRR of 40%, with payback in two years.

Rox extends gold zones on several fronts in WA

Rox Resources has hit the ground running at its Mt Fisher gold project near Wiluna, WA, with encouraging new assay results returned from drilling at the Dam, Dirks and Damsel South prospects. The company believes that the potential for uncovering large gold zones at the project is high despite deep weathering that obscures the basement rocks and geological structures, which has resulted in sparse drilling below the oxidised profile.

Most viewed people

Vernon Strange

Vernon Strange

Former Non-Executive Director, Southern Cross Goldfields

Charles Fear

Charles Fear

Co-Founder, Non-Executive Director (since 2019)
(Executive Chair 2002-2019, CEO 2002-2017), Argonaut
Non-Executive Director, Atrum Coal
Non-Executive Director, Rugby WA

Chris Ellison

Chris Ellison

Managing Director, Mineral Resources
Honorary Consul, Consulate of New Zealand
Co-Founder, Crushing Services International
Co-Founder, PIHA

Tim Roberts

Tim Roberts

Managing Director, Warburton Group
Trustee, Channel 7 Telethon Trust
Non-Executive Director, Crown Resorts Perth
Patron, Perth Symphony Orchestra

George Hatzipapas

George Hatzipapas

Executive Director, Zyber Holdings

Thought LeadershipView all

WA BREAST CANCER SPECIALIST’S DETERMINATION TO CURE INCURABLE

Finding a cure for metastatic breast cancer is what drives Perth medical oncologist Professor Arlene Chan, a world leader when it comes to research into advanced breast disease.

When sweaty palms and heart palpitations are not a good thing

There has been a shift over the years in the way the performance appraisal is conducted, particularly in the frequency of discussions, leading to a more meaningful experience for both manager and empl

Increased connectivity and digital identities at the forefront of Cisco innovation

Cisco continues to forge ahead with innovation surrounding technology and the internet by sharing its extensive knowledge on connectivity, digital identity and cyber security.

Help! My employee wants a raise.

Typically associated with sweaty palms and a general feeling of discomfort, it’s likely that at some point you’ve dealt with the pay increase question, either as the employee...or the manager.

Shire launches video to support advocacy efforts

The Shire of Serpentine Jarrahdale launched its advocacy video at an event with key stakeholders at Quarry Farm on Tuesday, 16 April.