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

Corporate Finance DealsView all

Viburnum buys into Cranecorp

Private investment group Viburnum Funds has acquired a majority shareholding in Henderson-based Cranecorp Australia in a deal believed to be worth about $50 million.

Chalice to raise $30m

Chalice Gold Mines has taken advantage of a strong rally in its share price to kick off a $30 million capital raising through brokers Bell Potter Securities and Euroz Securities.

Aurenne signals fourth WA acquisition

UPDATED: Private equity player Aurenne Group has made a $32 million all-cash takeover offer for ASX-listed Alt Resources, which is developing the Bottle Creek gold mine in Western Australia.

Corporate lawyers pivot to new priorities

Perth’s top corporate lawyers have been busy helping their clients navigate the fallout from COVID-19.

Anova revises $6.7m raising

Anova Metals has cut the pricing of its planned entitlement offer from 1 cent per share to 0.7 cents to reflect the downturn in equity markets.

Politics & the EconomyView all

Regional travel restrictions to lift on Friday

The state government will lift regional travel restrictions in time for the long weekend, with Premier Mark McGowan urging Western Australians to travel within the state and support local businesses.

Treasury revises JobKeeper to $70 billion

The federal government's JobKeeper wage subsidy program is now expected to cost $70 billion, only about half the original estimate of $130 billion.

Govt announces urgent review of WA workforce

The state government has appointed a review team to identify skills and training development solutions in response to the impact of COVID-19 on the Western Australian workforce.

Revenue glass half empty for hospitality

Turnover for clothing retailers and cafes Australia-wide was halved in April 2020 compared to the same month in 2019, with Deloitte warning employment in some sectors may not recover for five to six years.

Unis asked for international student plans

The federal government will consider university plans to bring back international students as long as they can quarantine them properly.

PropertyView all

Pandemic sparks logistics rethink

The recent panic buying of essential goods and increase in delivery services could have a lasting impact on Perth’s industrial property sector.

Finbar brings sales in house

ASX-listed apartment developer Finbar Group has established a new business division, appointing an in-house sales team led by former Knight Frank head of residential Western Australia Neil Kay.

Planning, approvals set for overhaul

The state government has introduced a package of planning reform measures that include streamlining approvals for 'significant' developments, with the aim to boost economic recovery.

Progress on seniors living projects

Aged care and retirement living service providers are pushing ahead with property developments, but say COVID-19 could have a lasting impact on the sector.

Australia Post secures extra space

Australia Post has leased 11,000 square meters across two industrial properties in Perth off the back of increased demand for essential goods, with the deals brokered by JLL.

Arts & CommunityView all

$1.5m to WA visual artists

The Art Gallery of WA Foundation and the gallery's board have announced a $1.5 million package for Western Australian artists represented in the State Art Collection and Aboriginal art centres across the state.

State govt delays NDIS transition date

The disability sector's peak body has welcomed moves by the state government to delay Western Australia’s transition to the National Disability Insurance Scheme's new quality standards until December 1 due to COVID-19, and to allocate $2 million to help the sector meet the new requirements.

Performance anxiety lingers for the arts

Arts organisations are cautiously planning how they might perform and interact once restrictions are lifted.

Service providers adapt to accommodate volunteers

Some volunteer programs have been put on pause due to COVID-19 restrictions, while those continuing to operate are welcoming new volunteers.

Award-winning retirement

Retirement clearly suits Wade Hughes, who has received accolades for his underwater photography, and published an award-winning book with his wife, Robyn Hughes, since leaving the workforce in 2015.

EnergyView all

Hazer, Water Corp partner on hydrogen project

Perth-based technology business Hazer Group has signed an agreement with Water Corporation, which will supply the company with biogas from its wastewater treatment plant at Woodman Point.

Warrego Energy to raise $15m

Warrego Energy has received commitments to raise $15 million from a two-tranche share placement, with the proceeds to go towards drilling at its West Erregulla development in the Perth Basin.

Hitting the road on hydrogen

The team behind a planned green hydrogen project to be built near Dongara are hoping to raise $1 billion by the end of the year, while BP is undertaking feasibility on a plant close to Geraldton, less than an hour’s drive north.

Electric vehicles return to agenda

Electric vehicles and pumped hydro are high on the federal government’s list of short-term priorities to reduce emissions, a new report shows, as Energy Minister Angus Taylor quietly moves towards an interventionist emissions policy.

Southern Cross wins Queensland work

Southern Cross Electrical Engineering has won a $40 million contract for services to Energy Queensland, which operates the electricity network in the northern part of that state.

Food & WineView all

Hospitality hungry for recovery

Perth bar and restaurant operators are looking forward to reopening, but hope further easing of restrictions will be on the menu soon.

The Old Brewery pours its last round

Fraser's Restaurant Group has announced it won't be reopening The Old Brewery on Mounts Bay Road once COVID-19 social distancing restrictions are relaxed, surrendering its tenancy to head lease owners Minderoo Group.

A couple of beers and a slow cooker

The growing popularity of low-and-slow American style cooking has created a business opportunity for the founder of Perth BBQ School.

Home run for home deliveries

Social distancing measures have changed the way we buy groceries, cook and eat out, leading to growth in home-delivery businesses and innovation by others in the hospitality space.

Wine Australia appoints acting chair from WA

Margaret River winemaker Cath Oates will be acting chair of Wine Australia for three months, while a review of its board is undertaken.

Special ReportsView all

Business of Local Government

Business of Local Government

26 May 2020

In our Business of Local Government supplement, Business News will highly how all good businesses rely on relationships with government, and how that plays out on a local level.

Wineries 2020

Wineries 2020

25 May 2020

Exports, tourist numbers, and cellar door sales have been disrupted in the past few months, putting some WA wineries under pressure.

Market choices mitigate COVID impact
Sustainability gains ground in Margs
Great for the State 2020: City of the Future

Great for the State 2020: City of the Future

19 May 2020

Business News analyses the changes Perth will need to make if it is to maintain the lifestyle that is the envy of many. We canvass the debate over urban infill, and look at options to achieve greater density, amenity and liveability.

Urban infill key for 2050 vision of Perth
Perth’s housing choices
New look for urban density, design
Renewed focus on urban planning will ensure a resilient and liveable city
Education sector 2020

Education sector 2020

18 May 2020

WA’s education sector confronts the fallout of the COVID-19 pandemic, embracing new practices and a radically altered teaching landscape.

Unis drive broader value message
Lessons from pandemic recess
Mining projects 2020

Mining projects 2020

12 May 2020

- The big iron ore miners are thinking about what’s next in the pipeline after projects such as South Flank and Koodaideri.
- Tougher restrictions for securing foreign investment is the latest hurdle for miners seeking to develop projects.

Big miners position for project next
Challenges risk juniors’ pipeline
Investors keep faith in gold

MiningView all

Gold explorers seek $12m

Kairos Minerals is looking to raise up to $4.2 million from a share placement and rights issue, while RTG Mining and Paterson Resources have also recently launched capital raisings.

Western Areas takes 19% stake in Panoramic

Panoramic Resources has edged closer to the restart of its Savannah nickel mine in the East Kimberley after launching a $90 million capital raising, with Western Areas to emerge as a new strategic investor.

Bryah shares surge on high-grade discovery

Shares in Bryah Resources were trading as much as 50 per cent higher today after the Perth-based explorer reported recent drill results at its manganese project in Western Australia.

$5.2 million for 49 drilling projects

Nearly 50 drilling projects will be funded through the state government’s Exploration Incentive Scheme, with winners including big businesses such as AngloGold Ashanti Australia and Rio Tinto.

New China rules unsettle iron ore stocks

BHP and Fortescue Metals Group have welcomed new inspection rules for iron ore imports into China, but only after the news raised concerns that trade tensions between China and Australia could have claimed another victim.

OpinionView all

Palmer call sends wrong message

The refusal to allow Clive Palmer into WA on public health grounds seems out of step with decisions relating to other high-profile businessmen.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Wesfarmers restructuring, pandemic impact, planning process changes, BGC and Ventura Homes, new city towers, China tension, and our special report on WA's wine industry.

Economic pressures ramp up

OPINION: The government faces a challenge to balance public health concerns with the need to get the WA economy going again.

Economic clarity in short supply

OPINION: Mixed messages about the economic effects of COVID-19 make it clear that, as with the virus, the world is in uncharted territory.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the pandemic’s economic impact, labour force, construction, hospitality, Qantas and Perth Airport, Minderoo rebrand, China spat, new corporate finance deals, Jennifer Lawrence, the City of the Future and our special report on the education sector.

RetailView all

Denada ice-cream to UAE

Sugar-free ice-cream brand Denada has hit supermarket freezers in the United Arab Emirates after its Perth-based founders signed a contract with Middle East supermarket chain Spinneys.

Target, Kmart slump offsets Bunnings surge

Wesfarmers has accelerated a review into its underperforming Target business as coronavirus lockdown measures hammer sales and spell a likely earnings decline.

More shops close amid virus crisis

More Perth eateries are set to shut their doors in response to a weakened retail environment, particularly in shopping centres, while blinds retailer Kresta has announced it will close all of its showrooms across the country.

More retailers shut down in COVID-19 crisis

Just Jeans, Peter Alexander and Smiggle are among several Australian brands set to close their doors tonight due to the COVID-19 crisis, while commercial landlord Dexus has withdrawn its earnings guidance for 2020.

Michael Hill to close all 304 stores

Retailer Michael Hill International will close all 14 stores in Western Australia as part of its move to suspend operations nationwide, and in New Zealand and Canada, amidst growing COVID-19 concerns.

SkylineView all

Skyline

Property Council WA ready to work on commercial tenancy code of conduct

Property Council WA has pledged property industry support for efforts by Premier Mark McGowan to keep WA businesses strong - starting with a fair commercial tenancy code of conduct.

Property Council WA supports efforts to ease virus pain

Property Council WA Executive Director Sandra Brewer has offered the State Government industry support to protect incomes, jobs and solvency.

Project 90K sets out bold vision for Perth’s CBD

Property Council WA has unveiled a bold vision to set aside the areas needed for foundation infrastructure to support a central Perth population of three times its current level.

Property Council WA advocates for affordable medium density

Perth’s so-called missing middle must be affordable and well-designed, Property Council WA says.

Primewest selects Sheffield to manage significant Perth office assets

Primewest has appointed WA-owned commercial office specialist Sheffield Property to manage a key group of office assets in the city.

Bulls N' BearsView all

Bulls N' Bears

Kairos to launch major exploration program as Sprott invests

Kairos Minerals has locked away a $4.2 million capital raise corner-stoned by billionaire gold bull and fund manager Eric Sprott. Kairos is hoping to emulate the stunning success of neighbour, De Grey Mining and join the prestigious ‘million-ounce club’ in the coming months with the money. An extensive fieldwork campaign will kick off in early June, with drilling in July.

Proteomics to develop ‘rapid-test’ for COVID-19

ASX-listed Proteomics International has received a $200,000 boost in funding courtesy of the WA Health Department and the WA Health Translation Network to develop a rapid test for COVID-19 and undertake some ground breaking research into why it attacks some worse than others. Proteomics will make use of its state-of-the-art facilities at the QE11 Medical centre.

Lithium Australia goes bush to test recycled battery fertiliser

After a successful round of greenhouse tests, Lithium Australia is set to undertake field trials for its spent alkaline battery waste fertiliser product near Kojonup in Western Australia’s Wheatbelt. It is aiming to deliver recycled manganese and zinc as micro-nutrient supplements to WA’s broad acre pastoralists in a region that produces around 14 million tonnes of grain annually.

Tyranna to stick with Syngas offer for Jumbuck gold project

Tyranna Resources has rejected Marmota Limited’s bid for its Jumbuck gold project in South Australia’s gold-rich Gawler Craton after taking legal advice that will see it stick to an earlier offer from ASX-listed Syngas that has been slow to settle. Whilst the Marmota bid appears to have fewer conditions, Tyranna said it was compelled by binding exclusivity obligations to proceed with the Syngas deal.

Adriatic secures key environmental permit in Bosnia

ASX-listed Adriatic Metals can now move on to the urban planning permit phase of the approvals process for its Veovaca precious and base metals deposit after Bosnia’s Federal Government signed off on the environmental permit, removing a key hurdle on the pathway to production. The permit covers the Veovaca mine, plant and tailings facility.

Most viewed people

Terry Grammer

Terry Grammer

Former Non-Executive Director, Great Western Exploration
Former Non-Executive Chair, Kin Mining
Former Non-Executive Director, Sirius Resources
Former Non-Executive Chair, Danakali
Former Non-Executive Director, Hannans
Former Non-Executive Director, Element 25
Former Co-Founder, Western Areas

Nev Power

Nev Power

Non-Executive Chair, Foundation for the WA Museum
Non-Executive Chair, Perth Airport
Non-Executive Deputy Chair, Strike Energy
Executive Chair, National COVID-19 Coordination Commission
Chair, Federation Board, Royal Flying Doctor Service

Nick Coatsworth

Nick Coatsworth

Non-Executive Director, CareFlight
Deputy Chief Medical Officer, Australian Government

Vernon Strange

Vernon Strange

Former Non-Executive Director, Southern Cross Goldfields

Edgar Basto

Edgar Basto

Acting President of Operations, Minerals Australia
President of Minerals Australia from July 2020, BHP Billiton Iron Ore
Acting President of Operations, Minerals Australia
President of Minerals Australia from July 2020, BHP

Thought LeadershipView all

St John offers COVID-19 Safe first aid training

COVID-19 has prompted the reimagining of almost every aspect of our lives from how we shop, work, play, relate and communicate, to how we learn.

Cisco at the frontline of cyber defence

A jump in cyber attacks and the need to increase network security during mandatory working from home has presented a number of challenges for businesses, with technology stepping in to protect.

How to turn your post-COVID workplace into an asset

As we emerge from the other side of social distancing restrictions in Western Australia, many employers are contemplating how COVID-19 will impact their workspaces when (or if) staff return to the off

Testing times provide test bed for EY

The best advice comes from lived experience and with EY moving to remote work before the mandated lockdown, its lessons will permanently impact how it operates and what it advises clients.

Crimson welcome students to their virtual classrooms

After two years of development, a purpose-built online education program, Crimson Global Academy (CGA), began classes this week with parents and students welcomed to the CGA family.