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

Corporate Finance DealsView all

Triangle buys out Cliff Head stakeholder

A joint venture between Cottesloe-based Triangle Energy Global and Royal Energy has taken full ownership of the Cliff Head offshore oil project in the Perth Basin after buying out previous stakeholder Roc Oil for $US3.75 million ($A5 million).

Encounter raises funds for gold exploration

West Perth-based Encounter Resources has tapped investors for $3.4 million to fund ongoing exploration at its gold projects in the eastern Pilbara region.

Enerji exits administration

Thermal energy company Enerji has exited administration with plans to raise $5.6 million and lift a share trading suspension on the ASX.

Magmatic debuts on ASX

A new Perth-based gold and copper exploration company has closed flat on its first day of trading on the ASX, after completing a $4 million initial public offering.

AusCann raises $12m

AusCann Group Holdings has confirmed a $12 million capital raising to fund the development and manufacture of medical cannabis products in Australia.

Most CommentedView all

Jetstar angered by 'worst airline' survey

Jetstar has lashed out at a passenger survey that ranked the Qantas-owned budget carrier one of the worst airlines in the world.

India’s growth an education opportunity

OPINION: Much has been made in recent times about the need to grow and diversify the Western Australian economy, now that the construction phase of the mining boom is over.

More than single lead source at PCH: Gow

UPDATED: Building commissioner Peter Gow has issued a clarifying statement today (Tuesday), essentially confirming the state government's view that lead leaching directly from brass fittings remains the only significant source of lead at Perth Children's Hospital.

WA businesses more confident on year ahead

Confidence in the economy over the coming 12 months by local small and medium businesses has jumped to its highest level since December 2010, with Western Australian SMEs more bullish than most others in Australia, a new report says.

No promises for small states in GST review

The federal government won't guarantee Tasmania and South Australia will be no worse off under potential changes to the way GST revenue is carved up among the states.

Politics & the EconomyView all

WA upper house gets first female president

Long-serving Labor MP Kate Doust has become Western Australia's first female president of the Legislative Council, while Sue Ellery will lead the government in the upper house.

Willmott rules out bid for Cottesloe

Chamber of Commerce and Industry of WA chief executive Deidre Willmott will not be a contender for Liberal Party endorsement for the Legislative Assembly seat of Cottesloe when the incumbent, former premier Colin Barnett, quits politics.

Perth transport costs among nation's highest

Perth's public transport users are slugged more per year than commuters in any other Australian capital except for Sydney, but Perth is the cheapest city to insure two family cars, according to new data.

CEO lunch with Deidre Willmott

CCI chief executive Deidre Willmott joined Business News at Julio's to discuss her career in law, politics and business.

Survey puts post-boom Perth in gloomy filter

A new survey has shed some light on the impact that the mining downturn has had on households in Perth and Peel, with nearly half of those surveyed saying they don't expect their quality of life to improve anytime soon.

Upcoming Business News EventsView all

Beaumonde On The Point (upstairs ballroom and function centre), 306 Riverside Drive, East Perth - 28 June 2017
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PropertyView all

Pindan gets solid return on Sydney sale

Pindan Capital has booked a near-$9 million profit after selling an office building in Sydney for $22 million.

Burke finds middle ground on builds

A foray into the mid-level market is paying dividends for luxury homebuilder Brian Burke Homes. 

Diploma maintains faith despite liquidation order

UPDATE: Diploma Group boss Nick Di Latte says the company will continue to push forward with its proposal to revive the company and provide a return to creditors, after provisional liquidators were appointed to 20 Diploma-related entities today.

More than a man cave, it’s an investment

Perth-based property investment group Metro Invest has created a new class of asset, tapping into the increasing demand for space as backyard sheds and workshops disappear from the suburbs.

Vicinity presses go on $100m Midland expansion

Aldi, JB Hi-fi and Harris Scarfe will anchor a $100 million extension of Midland Gate Shopping Centre, with construction to begin later this month.

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

Forrests gift $400m

Mining magnate Andrew Forrest and his wife, Nicola Forrest, have made history today with a $400 million pledge the prime minister has called a 'game changer'.

New campaigns broaden arts bodies’ donor base

SPECIAL REPORT: A decision to invest in giving campaigns has helped several of the state's arts organisations increase their philanthropic income.

Passing the social licence test

SPECIAL REPORT: A commitment to supporting local communities is a win-win for some of the state's best-known business names.

Broadening the appeal of giving

SPECIAL REPORT: Charities are diversifying their approach to building revenue streams as a soft economy challenges their business-as-usual fundraising models. 

Screenwest to combine with FTI

Screen funding and development agency ScreenWest has announced plans to amalgamate the Film & Television Institute WA.

EnergyView all

Woodside puts focus on brownfields

Woodside Petroleum plans to boost cash flow through expansion of existing projects over the next few years and has ruled out investment in any major greenfield projects in the near term.

Monadelphous secures major Inpex contract

Engineering company Monadelphous Group has been awarded a contract to provide offshore maintenance services to the Ichthys LNG project by oil and gas company INPEX.

Woodside bullish on Browse

Woodside Petroleum managing director Peter Coleman has sketched out plans to convert the two LNG plants on the Burrup Peninsula into an integrated processing hub that would take gas from the Browse Basin and other undeveloped fields off the Western Australian coast.

Industry group backs private sector on renewables

The WA Independent Power Association has called for the state government to block a plan by public generator Synergy to set up a new renewable energy fund, while supporting a move to reduce Synergy's capacity.

LNG scores small win for Magnolia

West Perth-based Liquefied Natural Gas has scored a tick from a US regulator for initial site work at its Magnolia project in Louisiana, although a final investment decision won't be made until it has finalised offtake partners.

"Mark My Words" PodcastsView all

19 May 2017

In this Business News podcast Mark Pownall and Dan Wilkie discuss the Officeworks IPO, the WA economy, Diploma Group, and philanthropy and giving.

 

 

 

12 May 2017

In this Business News podcast Mark Pownall and Charlie Gunningham discuss the Bank levy, Perth’s Lord Mayor, international property investors and WA’s wine sector.

05 May 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss public sector overhaul, medical research funding, CityLink developments and our university sector.

28 April 2017

In this Business News podcast, Dan Wilkie and Mark Beyer discuss big changes to the public service, property developers, opportunities in defence, a new Qantas service, and our annual review of mining projects.

21 April 2017

In this Business News podcast, Dan Wilkie and Mark Beyer discuss 457 visas, chief executive salaries, Chinese investment in WA and the state of the construction industry.

Food & WineView all

Woolworths ups food sales

Retail giant Woolworths has delivered strong comparable food sales for the third quarter in a sign it has wrested customers from arch-rival Coles.

Olive oil ecotourism opportunity

PHOTO ESSAY: About six weeks after the last grapes have been picked from the vines in the Margaret River region another bountiful harvest begins - the olive harvest.

Local distillers show winning spirit

Those who fancy a tipple of the finest vodka or whisky will be pleased to learn that two of the world's best are made right here in Western Australia.

Getting more from the daily grind

From pods to beans, the founders of social enterprise Community Pod have extended their business model.

Chains serve up $40m stores push

A big increase in takeaway spending in WA may not be flowing through to the big players, but they are still investing in market share.

Special ReportsView all

Universities 2017

Universities 2017

08 May 2017

International students targeted

Universities head hunt for international students
Filling niches

Filling niches

24 April 2017

Divergent strategies emerge in construction slowdown

Builders target niche opportunities
Relationships key to longevity

MiningView all

Strandline to raise $5.2m

Mineral sands explorer Strandline Resources has completed a share placement to raise $5.2 million for ongoing work at its Fungouni project in Tanzania.

Orica finds positives in performance

Mining explosives maker Orica has held on to its cautious full-year outlook after spending cuts and business improvement initiatives helped it offset higher costs in the first half of the year.

BHP dropping Billiton

BHP Billiton will begin dropping the "Billiton" from its name in a process beginning this week, and has signalled a further plan to eventually change its registered name, too.

Rox, Marindi to go to trial

Rox Resources and Marindi Metals will head to trial to resolve a dispute over the Reward zinc joint venture in the Northern Territory.

Native title green light for Lake Wells potash

West Perth-based Australian Potash has completed native title work for its Lake Wells project in the Goldfields, and is expected to commence work on a feasibility study in coming months.

OpinionView all

Counting the cost of not sticking to their knitting

OPINION: A failure to stick to their core competencies has led to significant disruption for businesses and organisations economy-wide.

Poor tax policy penalises success

OPINION: Picking on banks might be populist, but it is a very risky proposition.

Mark my words podcast

In this Business News podcast Mark Pownall and Dan Wilkie discuss the Officeworks IPO, the WA economy, Diploma Group, and philanthropy and giving.   

Nats won’t back down to miners

OPINION: If Rio and BHP thought their political troubles ended when Brendon Grylls lost his seat at the recent election, they had better think again.

This week's property round-up

OPINION: Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 555. The overall 14 per cent fall in weekly sales is attributed to a 17 per cent decrease in sales for houses and a 23 per cent decrease in unit sales, despite a 17 per cent increase in vacant land sales over the week.

RetailView all

Wesfarmers ends Officeworks IPO talks

Wesfarmers has decided against spinning-off its Officeworks stores via an initial public offering due to the market's current dim view of retail stocks.

National retail trade down 0.1% in March

Retail spending has slowed for a second consecutive month, official figures have shown, as consumers tighten their purse strings amid low wages growth.

Harris Scarfe back, in Joondalup

Department store Harris Scarfe is back in Western Australia, ending more than 15 years' absence from the state's retail sector.

Another big fall in new car sales

Western Australian car retailers will be hoping for better May numbers after new vehicle sales fell 12.7 per cent in April.

Jetstar angered by 'worst airline' survey

Jetstar has lashed out at a passenger survey that ranked the Qantas-owned budget carrier one of the worst airlines in the world.

Thought LeadershipView all

Business bankers strategic partners for challenges and change

Commonwealth Bank has transformed business banking to help small to large enterprises face emerging challenges and opportunities

Global solution, local experts the key to major WA project

Western Australia's GovNext-ICT program, currently at start-up stage, has a number of phases - with each promising so much to the local community.

Have we forgotten the simple art of mentoring?

Research has shown employees are more likely to succeed in the workplace if they have a mentor.

WA Outcomes setting the benchmark for consumption based IT in Government

Blue sky thinking comes from all manner of places.

Perth could become Australia’s next property investment hotspot – but where in Perth has the edge?

With recent property prices peaking in Sydney and Melbourne coupled with flat property conditions in Perth, there has been speculation recently that Perth is now the place to consider for investing in property. We all know that property investment has a number of risks so when considering investing in Perth, are there any areas that have the edge over other locations?