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

Corporate Finance DealsView all

Fastbrick in $35m placement

Fastbrick Robotics has raised $35 million through a share placement as the Perth-based technology company continues to develop its commercial prototype Hadrian X bricklaying robots.

Battery in strongly supported $20m raising

Battery Minerals has announced a $20 million capital raising, primarily through a strongly supported share placement, ensuring the company can progress at its graphite projects in Mozambique.

Cool reaction to $93m Altona acquisition

Perth-based Altona Mining has negotiated a scrip-based takeover deal that will see the aspiring copper miner bought by Canada's Copper Mountain Mining but its shares remain well short of the 17 cents valuation of the takeover scheme.

Sodexo expands in slow market

Sodexo’s acquisition of Morris Corporation has pushed it up the ranking of big facilities management companies in Western Australia at a time when its competitors have been battling with the slowdown in large projects in the Pilbara.

Halom takes MMA to panel

Halom Investments has asked the Takeovers Panel to revise MMA Offshore’s planned $97 million capital raising, claiming the deal is designed to entrench the control held by the incumbent board.

Most CommentedView all

Taxi plate buy-back part of transport shake-up

Perth taxi and Uber users may see a 10 per cent fare hike for the next four years to fund taxi plate buy-backs as the state government revamps on-demand transport.

GST could get worse: CCI

Mining magnate Andrew Forrest has made an emotional plea for gambling revenue to be factored into the GST distribution system, while Western Australians have been warned the state’s share of the revenue could potentially fall to zero if the economy were to return to boom times.

Brookfield committed to $1.1bn Elizabeth Quay project

Brookfield Property Partners today unveiled the design blueprint for its $1.1 billion twin tower development at Elizabeth Quay, following its entry into project delivery agreements. Click through to see animated fly through video.

Scaffidi claims 'campaign' against her

Embattled Perth Lord Mayor Lisa Scaffidi has accused the WA Labor party of running a four-year campaign against her with the backing of two of her strongest critics on council.

Found, a can at the end of the road

OPINION: With one eye on re-election and afraid of making tough calls, politicians have ignored a number of crises that will profoundly affect their constituents.

Politics & the EconomyView all

Aussie dollar recovers ground against $US

The Australian dollar has recovered some ground against its US counterpart, which was weaker against major currencies and after the central bank governor reiterated confidence in the interest rate trajectory.

Oil rises ahead of OPEC meeting

Oil edged up on Tuesday, supported by expectations that OPEC and other producing countries next week would extend output cuts, but signs of higher U.S. crude output kept prices under pressure.

Gold edges up on lower U.S. dollar

Gold bounced up slightly on Tuesday, as a weaker U.S. dollar gave bullion a boost after the previous day's sharp decline and as investors awaited the minutes, due on Wednesday, of the Federal Reserve meeting held in November.

Morning Headlines

PM flags tax cuts for battlers

$A is again down against a stronger $US

The Australian dollar is lower against a slightly strengthened US dollar as some risk sentiment unexplainably returns to the markets.

Upcoming Business News EventsView all

Hyatt Regency Perth - 28 November 2017

Winners announced - 07 March 2018

PropertyView all

Reiwa to branch out with HumblAbode

The Real Estate Institute of Western Australia has signed a five-year partnership agreement with online advertising portal HumblAbode, strengthening its reach in the local market.

Sadleir joins Perron Group

One of the state’s largest property holders, Perron Group, has appointed former Cedar Woods Properties managing director Paul Sadleir to its board.

Spadaccini builds on success

Rob Spadaccini’s business has come a long way in 20 years – from renovations, extension works and small homes, to building multi-million dollar residences of national acclaim.

Efficiency key to Split system

Perth-founded building systems manufacturer Pro9 Global is planning to shake-up the construction industry, with a new energy-efficient and fire-resistant wall and façade structure.

WA building largest homes nationally

The average size of Australian homes, inclusive of both houses and apartments, has hit a 20-year low, a new report has found; however, Western Australia is building the largest homes in the country.

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

Watson’s Black Swan debut, playful and provocative

Much sought-after for her directorial talents, Clare Watson is now in the midst of showcasing her debut for Black Swan Theatre Company, Let the Right One In.

Austal commits $300,000 to Anglicare

Anglicare WA has received confirmation that shipbuilder Austal will commit $300,000 to the not for profit’s family and domestic violence support service, Young Hearts, over three years.

Indigenous art meets high fashion in Perth

A fashion collaboration between internationally renowned Jimmy Choo, local designer Alvin Fernandez, and Western Australian indigenous artist Peter Farmer was brought to Perth earlier this week for a temporary exhibition.

Rebranding an art form at Perth Festival

The increasingly competitive nature of the arts marketplace has prompted a rebrand at the longest-running international arts festival in Australia, Perth International Arts Festival.

McKenna new Screenwest CEO

The state’s peak body for screen funding and development, Screenwest, today announced the appointment of Seph McKenna as its new chief executive, succeeding Ian Booth.

EnergyView all

$2.6m Smart Cities money for blockchain trial

Curtin University, Murdoch University, Power Ledger and LandCorp are behind an $8 million project that will use blockchain technology to manage water and energy systems in the City of Fremantle.

mWave generates interest in Bombora

Perth company Bombora Wave Power will proceed with construction of its first commercial sized mWave device after securing multi-million dollar backing from international renewable energy consultancy Enzen.

Aust shares follow negative Wall St lead

The share market is following a negative lead from overseas markets, weighed down by weakness among miners and banks.

Western Power aims for $1bn savings

Western Power plans to reduce spending by nearly $1 billion in the next five years compared to the five years just gone, according to a proposal by the state-owned network operator to the state’s economic regulator.

Horizon in $7.1m Carnarvon distributed grid plan

Horizon Power will roll out a $7.1 million distributed energy pilot project in Carnarvon, while the state government has unveiled a trial to incentivise demand management by users during peak periods in Broome.

"Mark My Words" PodcastsView all

17 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss Brownes acquisition and Chinese investment, Richard Goyder, Shell exits Woodside, Stockland’s land purchase spree, domgas deal, waste to energy, and CEO remuneration.

10 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss stock market hits highs, renewables privatisation, Perth Stadium, Historic Heart, Perth Festival, and junior miners.

03 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss business failures, Hancock's $1 billion profit, UWA's $450 million deal, Pilbara mine camp merger, taxi levy, and commercial constr

27 October 2017

In this Business News podcast Mark Pownall, Matt Mckenzie and Tori Wilson discuss house prices, Tianqi, the sale of Henderson-based Silver Yacht, the latest in the Perth lord mayor saga, recent women in business awards, and health care.

23 October 2017

Manny Papadoulis headed one of the biggest tourist operations in the state until a crisis half a world away drove it under; it was a roller coaster ride, but he remains passionate about the sector.

Food & WineView all

WA cafe owners fined $150,000

Two former Bunbury cafe operators have been fined more than $150,000 after deliberately underpaying a number of their employees over a 15-month period, starting in 2013.

The Marina, Mindarie named WA's best venue

The Marina, Mindarie was named Perth’s best hospitality venue at last night’s Western Australian Hospitality Awards for Excellence, joining the State Buildings and Print Hall as the most recent winners of the prestigious award.

Trustee, Beaufort Local in hands of administrators

St Georges Terrace venue The Trustee Bar & Bistro has fallen under the control of administrators, but an ownership change to keep the venue alive is a real possibility.

Domino's pay deals axed, shares fall

Shares in Domino's Pizza have dropped sharply after the Fair Work Commission terminated deals with workers under which they were paid less than minimum award rates.

Varis hopes customers stay Feral

Scale and authenticity were two factors attracting Coca-Cola Amatil to Feral Brewing, which now plans for a more rapid execution of its vision with the newfound support.

Special ReportsView all

CEO salary survey 2017

CEO salary survey 2017

20 November 2017

Equity incentive deliver a boost

CEO incomes on the rise
Junior mining and exploration 2017

Junior mining and exploration 2017

13 November 2017

Capital inflow turns talk positive
Optimism drives graphite raisings surge
Commercial property 2017

Commercial property 2017

06 November 2017

Developers, investors find opportunities

Developers get out of the office
Perth outer suburbs in the mix
Catching up  to students’ housing needs
ICT services

ICT services

23 October 2017

Cloud, big data drive change

Tech firms tap into data trends
Zetta gears up for acquisitions

MiningView all

Business community mourns death of David Humann

Company director and business adviser David Humann, whose roles included chairing nickel miner Mincor Resources and contractor Macmahon Holdings and being a member of the global board of accounting firm Price Waterhouse (now PwC), has passed away after a short illness.

Swift wins lithium mine contracts

Perth-based telecommunications provider Swift Networks has secured multi-year contracts at three Western Australian lithium mine sites.

New gold levy plan immediately condemned

Treasurer Ben Wyatt has announced details of a new gold royalty increase that is budgeted to raise $332 million over four years while seeking to address the industry concerns that killed off his previous proposal, but the new plan has failed to win support.

BHP gets more time for Samarco claims deal

A Brazilian court has granted an additional 150 days for BHP Billiton, Vale and their joint venture, Samarco, to negotiate a settlement of multi-billion dollar public civil claims over the 2015 mine dam collapse in that country.

Quality is king as China cleans up

China's great environmental clean-up is starting to produce knock-on effects in Western Australia, with none more interesting than the ‘quality clash’ in the iron ore sector.

OpinionView all

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss Brownes acquisition and Chinese investment, Richard Goyder, Shell exits Woodside, Stockland’s land purchase spree, domgas deal, waste to energy, and CEO remuneration.

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss stock market hits highs, renewables privatisation, Perth Stadium, Historic Heart, Perth Festival, and junior miners.

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss business failures, Hancock's $1 billion profit, UWA's $450 million deal, Pilbara mine camp merger, taxi levy, and commercial constr

Upper house dilemma is Labor’s to solve

OPINION: Skewed voter representation and the often-obstructionist outcome that follows has some eyeing changes to the WA Legislative Council.

Resources renaissance in the regions

OPINION: Lithium and gold are among the minerals proving there’s life for resources outside the north-west.

RetailView all

$150,000 fines for Pastacup breach

The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.

More time to shop this Christmas

Perth’s shoppers will enjoy the same extended shopping hours as last year to buy presents and hunt for bargains, but employers want longer hours all year round.

Harvey Norman shares jump as Asic review ends

Shares in Harvey Norman have risen strongly after the corporate watchdog told the retailer it was no longer reviewing its 2015-16 financial report.

Woolies shares up on strong sales growth

Shares in Woolworths have risen after the supermarket chain unveiled strong first quarter food sales that continued to outpace the growth of rival Coles.

JB Hi-Fi sales growth slows

JB Hi-Fi's sales growth has slowed, but it still expects total sales to jump 21 per cent this financial year.

Most viewed people

Rebecca Tomkinson

Rebecca Tomkinson

Executive Director, Aged Care Services, MercyCare

Geoff Pritchard

Geoff Pritchard

Director, Red Meets Blue
Director, Go Capital
Chairman, Investment Committee Advisory Board, Methodist Ladies'
College
Company Director, Habitat 1
Director, iCetana

Vicki Robinson

Vicki Robinson

Director, Black Swan State Theatre Company

Diane Michaelas

Diane Michaelas

Educational Assistant, Mater Christi Catholic Primary School

Jonathon Woolfrey

Jonathon Woolfrey

Non-Executive Chairman, Holy Rosary School Doubleview
Non-Executive Chairman (since 2014), Hope Community Services

Thought LeadershipView all

How can scrap metal help people and the environment?

In today’s world, organisations have an incredibly important role in being environmentally responsible. The St Vincent de Paul Society understands this and has a strong focus on sustainability and recycling.

The modern workplace — gen Y style

THE nature of employment is changing as a younger generation moves through the workforce. The new era means a shift of priorities is needed for employers and employees. “About 20 or 30 years ago you used to have a job for life,” Lance Compton said.

Training leads to confident leaders

TRAINING was an integral factor not only in the development of staff, but in the formation of a positive workplace culture, attendees agreed.

Strong workplace culture key to staff retention

A CLEAR and positive culture within an organisation leads to greater staff retention and a stronger employee base, especially when management is showing the way.

Industry leaders see early signs of recovery in WA

LEADERS in a range of industries, including engineering, finance and training, say they are seeing the green shoots of recovery in the Western Australian economy — albeit on a small scale.