Search

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

Corporate Finance DealsView all

InvoCare in SW funeral buy

Listed funeral company InvoCare has continued to expand its market share in Western Australia, after purchasing South West business Archer & Sons Funeral Homes.

Tap rejects $30m Risco bid

Tap Oil has urged shareholders to reject a $29.8 million takeover bid from major shareholder Risco Energy Investments, after independent expert BDO valued the company well above the offer price.

Sandfire buys into Alaska project

Sandfire Resources has entered into a strategic relationship with Victoria-based White Rock Minerals, which includes a $2.5 million equity investment and an option to earn-in to the junior explorer’s Red Mountain zinc project in Alaska.

Primero in steady ASX debut after $25m IPO

Local engineering company Primero Group made a steady debut on the ASX today after completing a $25 million initial public offering.

Wide Open lists after $5m IPO

Williams-based Wide Open Agriculture has begun trading on the ASX today after the company raised $5 million via an initial public offer.

Most CommentedView all

Iconic Scarborough gets the go ahead

Following the rejection of an initial proposal late last year, the Metropolitan Redevelopment Authority has given 3 Oceans Property the green light to progress its twin-tower mixed-use development on the corner of West Coast Highway and Scarborough Beach Road.

Fini adds to Freo sustainability

Several alternative approaches to tackling housing affordability are taking shape across Fremantle, with social enterprise Nightingale Housing one step closer to actualising its Wood Street project with its recent launch of presales.

BMD wins $49m freeway contract

BMD Constructions has been awarded a $49.4 million state government contract to widen a section of the Mitchell Freeway, beating CPB Contractors and WBHO Infrastructure for the work.

Busselton shortlisted for Qantas academy

Busselton has been shortlisted with nine other regional cities nationwide as the potential home for the new Qantas pilot academy, weeks after the environmental watchdog recommended conditional approval for the operations of a $70 million upgrade at the Busselton-Margaret River Airport.

Perth surf park a step closer to $28m takeoff

A private Perth company led by former oil and gas executive Andrew Ross is close to realising its vision of building artificial wave parks across Australia.

Politics & the EconomyView all

State govt defends Huawei contract

The state government says there was no conflict of interest with the recent awarding of a $205 million contract to Huawei, after it was revealed the Chinese group paid for flights and phones for two cabinet members during a trip to China in 2015.

WA accepts $3.3bn GST compromise

The planned overhaul of the GST distribution system may not be perfect, but it's a pragmatic and creative response all states and territories should be able to accept, Western Australian Treasurer Ben Wyatt said today.

Turnbull rejects GST 'average' proposal

The Turnbull government has rejected a key recommendation of a review into the carve-up of GST revenue among the states and territories.

RBA holds cash rate at 1.5%

The Reserve Bank has left Australia's official interest rate at its record low level of 1.5 per cent for the 23rd month in a row, with weak household spending remaining an area of concern for the economy.

Shorten's captain's call was bad timing

Labor leader Bill Shorten has backed down from his ‘captain’s call’ to roll back company tax cuts for businesses with turnovers between $10 million and $50 million a year, after a leadership meeting today.

Upcoming Business News EventsView all

Grand Ballroom, Hyatt Regency Perth - 25 July 2018

PropertyView all

Lifting Perth’s lagging land sales

Growth in population and jobs are two factors that will lift the volume of residential greenfields land sales, a recent industry event has heard.

Fragrance gets the go ahead for $180m CBD twin-tower

Singapore-listed Fragrance Group is one step closer to realising its $180 million vision for a two-tower hotel-cum-office and residential development in the CBD’s west end, with the City of Perth giving the project the green light.

Nicheliving makes more changes in listing quest

The long road to an ASX listing for Nicheliving Holdings continues, after the property developer released its fourth supplementary prospectus this week, including details of its new 'big 4' auditor and a new director, and foreshadowing the release of a third replacement prospectus that will not have financial forecasts.

Sotheby’s markets Taj to the world

A Peppermint Grove property once home to the infamous ‘Taj on Swan’ is set to go under the hammer, with the owners recently engaging Sotheby’s International Realty to run a global sales campaign.

WA to lead residential property recovery

Sentiment towards Western Australia’s housing market fell during the second quarter of 2018 but the state is expected to lead the country for residential property capital growth over the next two years, according to a survey of industry professionals.

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

Grants given to boost waste management

The state government has distributed about $1 million in grants among sixteen environmental organisations as it aims at boosts recycling and improve waste management practices in Western Australia.

TriEvents runs its course

Major events management operator TriEvents has folded, creating an opportunity for new players to step in and join the race.

Lotterywest lifts sales to $855m

Lotterywest has increased its total community grants after achieving a 3.4 per cent lift in sales to $855 million in 2017-18, a notable turnaround from the prior year when it failed to meet its budget.

Linking veterans to new opportunities

Veterans’ recruitment organisation Working Spirits is steadily increasing its profile among the Western Australian businesses community, with 10 former veterans recently finding placements, including with mining services business Macmahon Holdings.

Perth doctor finds success with fiction

Royal Perth Hospital emergency doctor Michelle Johnston has leveraged her career in medicine to drive the direction of her first novel, establishing her credentials as an emerging author in the process.

EnergyView all

Gorgon leads way as LNG exports pass $30bn

A doubling of production at Chevron’s Gorgon LNG plant has helped boost national exports of the fuel 38 per cent to $30.8 billion in the year to June 2018, according to consultancy Energy Quest.

Battery trend broadens to business

An avocado farm near Pemberton, deep in the state’s South West, may not be the obvious location for an award-winning energy technology application.

Trump tweet pushes oil price down

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude.

Pacific flags $15m impairments

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

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.

"Mark My Words" PodcastsView all

13 July 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

06 July 2018

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

29 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss defence contracts, Scarborough high rise, Landgate and TAB privatisation, Atlas Iron, 2018's RIsing Stars, and our special report on Indigenous business.

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.

Food & WineView all

Ku De Ta failure dents the Point

The $50 million On the Point hospitality precinct in East Perth has suffered a major setback after its anchor tenant was placed in administration but other restaurants and bars at the riverfront property are set to continue trading.

Gamble bets on rural NSW venture

Restaurateur Kim Gamble is enjoying the country life in NSW after 30 years of running cafes and bars in Perth.

Chocolate cafe into liquidation

The Perth-based Guylian Belgian Chocolate Cafe franchise has been placed into liquidation, just over a year after the business opened on St Georges Terrace.

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.

Special ReportsView all

Corporate finance June 2018

Corporate finance June 2018

16 July 2018

Six-page analysis of the top advisers

Sternship making its mark
New corporate advisory players lift market share
Growth in alternative financing
Total shareholder returns 2018

Total shareholder returns 2018

09 July 2018

Resources returns lead rebound
Strong returns for AusCann investors
Indigenous Business 2018

Indigenous Business 2018

02 July 2018

Contractors refine their growth strategies

Indigenous contractors deliver through diversity
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

MiningView all

Saracen hits record production

Saracen Mineral Holdings has confirmed its status as one of the state's top 10 gold miners, after the company reached record production in the 2018 financial year, while West Perth-based Pantoro’s annual gold output was within guidance.

Rio to hit top-end guidance

Rio Tinto has posted a strong second quarter result at its Pilbara iron ore operations, with the miner now forecasting it will hit the top end of its annual guidance.

BDO backs Atlas takeover

Hancock Prospecting’s $326 million takeover bid for struggling iron ore miner Atlas Iron has been endorsed by independent expert BDO, which found the pricing was fair and reasonable.

Panoramic to reopen nickel project

Panoramic Resources has announced it will reopen its mothballed Savannah nickel project in the east Kimberley, after securing a $40 million loan facility with Macquarie Bank.

Emeco lifts earnings in FY18

Heavy equipment supplier Emeco Holdings has posted operating earnings of $153 million in its preliminary financial year results, which included a strong fourth quarter performance due to a ramp-up in new projects.

OpinionView all

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

GST spending pressure

Opinion: The McGowan government would be advised to avoid the irresponsible spending blowout of their predecessors, however tough the political sell.

Change a constant as city grows

Opinion: Sensible development is the only way forward for a city beset by urban sprawl such as Perth.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

Disruption, coming to a business near you

Opinion: Businesses that fail to change when the market demands are playing with fire.

RetailView all

Woolies wants fuel IPO despite Caltex deal

Woolworths still wants to exit the petrol business despite having inked a 15-year fuel supply deal with Caltex Australia.

KFC expansion swells Collins Foods profit

Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.

Metcash shares lift despite $150m FY loss

Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.

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 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.

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.