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

Corporate Finance DealsView all

Nuheara gains $2.5m funding

Wearable tech company Nuheara has secured $2.5 million from a New York-based institutional fund manager to support the commercialisation of its recently-released hearing device.

88 Energy to raise $5m

88 Energy has received commitments to raise $5 million through a share placement to fund the evaluation of the company’s assets in Alaska, including the Charlie-1 appraisal well.

Junior explorers seeking $25m IPOs

Perth-based Castile Resources and Kaiser Reef are set to raise up to $25 million ahead of stock market listings next month, despite tough market conditions affecting a number of ASX aspirants.

Emerald targets $75m raising

Gold explorer Emerald Resources is seeking to raise $75 million through a share placement to develop its Okvau project in Cambodia, while also finalising a $US60 million ($A88 million) loan with Sprott Private Wealth.

Carbine to acquire Cockatoo Iron

Subiaco-based Carbine Resources has signed an agreement to purchase Cockatoo Iron in a scrip deal worth $12 million.

Politics & the EconomyView all

CCI calls for reform as Wyatt touts growth

Treasurer Ben Wyatt says the latest data from Chamber of Commerce and Industry of WA showed positive signs for the Western Australian economy, despite CCIWA arguing for reforms to boost business and housing investment.

More funds flagged for bushfire-hit areas

More local councils are expected to get $1 million federal government grants as the scale of bushfire damage comes to light.

Relief packages for tourism, small businesses

The Morrison government has announced a suite of measures to immediately support small businesses, non-profit organisations and tourism businesses affected by Australia's bushfires.

Morrison’s Kyoto conundrum

Moves to scrap the use of carryover carbon emissions credits from the Kyoto Protocol could significantly increase the cost of Australia meeting its Paris Agreement target.

Bushfires could deliver 0.5% hit to GDP

The bushfire crisis will cost Australia $5 billion in direct losses and lop off 0.2 to 0.5 per cent from its economic growth, Westpac has estimated.

PropertyView all

Perkins wins airport, lithium plant works

Perkins Builders has unveiled a pair of significant contract wins, with the Bunbury-headquartered construction group to deliver new aerobridges for Perth Airport's international terminal and non-process infrastructure for Albemarle Corporation’s $1 billion Kemerton lithium processing plant.

Perth rental market continues to tighten

Rental vacancies continue to fall in Perth’s residential property market, with competition between tenants ramping-up, particularly in sought-after locations.

Perth office vacancies falling but still high

Perth’s office market is continuing its recovery, with vacancies falling for the fifth consecutive quarter and the city recording the second-highest office takeup of any Australian city in 2019.

High-value projects populate Perth pipeline

A series of large-scale residential and commercial projects are expected to get under way in Perth this year with a development pipeline nearing $2 billion in value.

Primewest adds Mandurah shopping centre to portfolio

ASX-listed funds manager Primewest has acquired a Woolworths-anchored shopping centre in Mandurah for $32 million, following its $33.1 million acquisition of 66 Kings Park Road.

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..

Aboriginal Culture in WA View all

With a history stretching back at least 50,000 years, there are many ways to explore WA’s rich and diverse indigenous heritage..

Arts & CommunityView all

Climate protesters disrupt Fringe launch

The official launch of Fringe World Festival on Thursday night was interrupted by local artists protesting the festival’s partnership with Woodside Petroleum.

Legend Media receives Chinese approval for first film

Local film production company Legend Media Group has gained Chinese approval for its first Australian-Chinese co-production feature film Outback Dragon, slated to start filming in Kalgoorlie-Boulder and Perth later this year.

Black Swan appoints executive director

Rick Heath has been named executive director at Black Swan State Theatre Company, following controversy over sudden leadership changes at the organisation last year.

Barking Gecko thrives into its 30s

A strong focus on developing and sustaining corporate partnerships is one factor behind Western Australia’s oldest theatre company, Barking Gecko Theatre, notching up its 30th birthday.

Indigenous focus for new museum

WA’s newest cultural drawcard is set to showcase the state’s unique heritage on a world stage.

EnergyView all

$241m saving for gas users

Domestic gas users will benefit by as much as $241 million over five years under Australian Gas Infrastructure Group’s latest pricing proposal for the Dampier to Bunbury Natural Gas Pipeline.

Waste projects shift the dial

Western Australia is leading the country in the adoption of waste-to-energy projects, with $1.2 billion being invested in two path-breaking facilities under construction.

Seven hydrogen projects secure study funds

Kununurra and Mandurah could be hubs for renewable hydrogen production, while the gas could be blended with natural gas already supplied through the state’s main transmission pipeline, as part of a series of projects revealed today.

Australia becomes world’s largest LNG exporter

Australia has edged out Qatar to become the world’s largest exporter of liquefied natural gas (LNG) on an annualised basis, according to national consultancy Energy Quest.

$511m waste project to proceed

Construction of Western Australia’s second large scale waste-to-energy project will begin this month near Rockingham after the development consortium reached financial close just before Christmas.

Food & WineView all

Diverse offering fits the bill in Freo

Almost 10 months after it opened, Freo.Social has expanded its range to include a dining option with the addition of Beer.Kitchen, the venue’s new 22-item dining offering launched in mid-December.

Plans for Bravo to go international

The Manjimup-bred burgundy apple Bravo is closer to being sold internationally, after businesses in Europe and South Africa signed an MOU to progress plans for its commercialisation.

Kailis senses market movement

There’s a seismic shift happening in hospitality and Perth has an opportunity to become a culinary destination, according to George Kailis.

Chocolate artisan builds the brand

Coolbellup-based Nakamura Chocolates is aiming to triple Western Australian sales after a successful entry into the Japanese market.

Prominent Perth restaurateur accused of extortion

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Special ReportsView all

Corporate finance 2019

Corporate finance 2019

20 January 2020

The annual Business News review of corporate finance deals has identified some major shifts among key advisers and market trends.

Advisers compete on 733 deals
Aged care 2020

Aged care 2020

13 January 2020

Large aged care players are cementing their growth strategies to meet demand and survive a turbelent time for the sector. Technology could help people live independently at home longer and improve care in residential aged care facilities.

Growth amid uncertainty
Digital delivers for quality care
Great for the State – Edition 10: Cultural growth

Great for the State – Edition 10: Cultural growth

17 December 2019

Perth has come a long way since the Lonely Planet described the city as dullsville, with a thriving festivals, street art, music and events scene now creating vibrant connections with Western Australia’s history and indigenous culture.

Thriving hub of festivals, bars and street art
From The Triffids to Tame Impala, WA goes global
Architecture, planning connect with culture
Museum heralds new era for arts advancement
Biggest employers 2019

Biggest employers 2019

16 December 2019

Business News' updated ranking of WA's largest employers highlights the increased use of casual and contract.

Woolies tops biggest employers
Person of the year 2019

Person of the year 2019

13 December 2019

WA’s Liberals, notably Christian Porter, have been key to the Morrison government’s performance this year. Business leaders have been developing plans that could have a big impact on the state in 2020.

Western defence delivers for feds
Unfinished business in 2019 to energise leaders

MiningView all

Local businesses winning Eliwana work: Fortescue

More than 80 per cent of spending on the Eliwana iron ore project has been through local contractors, Fortescue Metals Group said today, while Premier Mark McGowan announced a major approval had been fast tracked to enable the mine to be completed on schedule.

Arafura finds project management partner for Nolans

Arafura Resources has appointed engineering and construction group KBR to manage development of its Nolans rare earths project in the Northern Territory.

St Barbara slumps on downgrade

Shares in St Barbara eased today after the company downgraded production forecasts at two of its goldmines, while fellow miner Regis Resources reported a strong quarterly result.

Vote not needed for four-fold dilution

Indian state-owned corporation NMDC recently lifted its stake in local mining hopeful Legacy Iron Ore to more than 90 per cent in a deal that minor shareholders say dramatically diluted their equity, with regulators powerless to take action.

Bauxite project for northern Kimberley

A private business has lodged documents with the environmental regulator for a new bauxite mine in the Kimberley, a project estimated to be worth around $35 million.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Dan Wilkie discuss property data, Subiaco hotel, lithium, transport infrastructure, autonomous vehicles, mining listings, graphene, and our special report on risks to WA.

Mark my words podcast

In this podcast Mark Beyer and Mark Pownall discuss stockmarket highs, tourism buoyed, Scott Park Group, Jeanswest into administration, FMG's exploration tenement battle, and our special report on corporate finance.

Mimic success, not failure

OPINION: From its own experience, Business News can declare the state government’s Market Led Proposals policy is a let-down.

Financial trade-off for Labor

OPINION: Mark McGowan and his Labor government are sitting pretty entering the final quarter of their first four-year term, with no obvious domestic issues likely to destabilise their approach to the next election in March 2021.

Young microentrepreneurs deserve our support

OPINION: Schools have a significant role to play in preparing students for the new world of work.

RetailView all

Black Friday fuels November retail surge

November's Black Friday sales fueled a better-than-expected monthly retail turnover, but economists are wary of how much of the 0.9 per cent increase would previously have been spent during December.

Freo getting its mojo back

There’s a sense of optimism in Fremantle amid a flurry of new venue openings, supported by a potential investment pipeline of nearly $1 billion.

Administration, restructure planned for Fashion Festival

The entity which ran the Perth Fashion Festival for 20 years, before operations were passed to the Fashion Council WA, has entered administration owing $819,000, with owners Mariella Harvey-Hanrahan and Tony Sage planning a deed of company arrangement.

Profit rockets at Spudshed

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

Betts pulls on boots for recovery

Shoe retailer Betts Group has returned to profitability after cutting nearly 130 stores in the past two years, and chief executive Danny Breckler is confident the business is now on the right path.

SkylineView all

Skyline

It’s office-ial, East Perth included in Property Council’s Office Market Report

For the first time ever, the Property Council’s February Office Market Report will capture East Perth specific information about office vacancies and performance.

Retirement village review risks alienating residents and operators

Property Council of Australia says the State Government's retirement village review lacks transparency and is being made overly complex.

Future leader calls for attitude change

Unapologetic property industry advocate, Urbis associate director Sean Morrison, has used his platform as Stan Perron Future Leader 2019 to call for West Australians to change their attitude to planning.

Property Council WA praises revised City of Perth population targets

The City of Perth’s decision to more than double its residential population targets to 90,000 will help central Perth reach its potential.

Drone delivery poses new challenges for WA industrial players

A panel of experts has told a Property Council WA event that drone delivery is closer to becoming a reality - and will require a re-think from planners.

Bulls N' BearsView all

Bulls N' Bears

Gold Fields Ltd signs on for K2fly software

K2fly has added another significant resource company to its rapidly growing, blue chip client list after West Australian miner, Gold Fields Ltd, signed on for a multi-year deal to use K2fly’s innovative software package known as “RCubed”. The contract is worth in excess of $580,000 across the initial five years and comes on the back of a total of $1.67m worth of record invoicing in the December 2019 quarter.

Legend onto new target at Mawson

Legend Mining has discovered an EM conductor lurking within shouting distance of its impressive recently announced nickel/copper/cobalt drill hole at the Mawson prospect in the Fraser Range. The latest exploration work at Mawson unearthed over 70 meters of sulphide mineralisation, including 14.9 meters with solid nickel-copper-cobalt grades. A newly modelled “off-hole” electromagnetic anomaly that points to a possible extension of the mineralised zone will now be targeted.

Lithium Australia to bank $185k for innovation

A Federal Government co-funding grant from the Advanced Manufacturing Growth Centre of up to $185,000 has been awarded to Lithium Australia’s subsidiary, VSPC, to assist in developing its lithium battery recycling capabilities. VSPC takes spent lithium-ion battery metals and/or mine waste and produces lithium-iron-phosphate metal oxides that can be commercialised in the rapidly growing environmentally friendly renewables space.

Neometals ships titanium product to China

Neometals has confirmed the technical feasibility of its Barrambie titanium-vanadium deposit located in the Murchison region of WA following successful metallurgical pilot test work. The work, that was aimed at optimising hydrometallurgical recoveries, produced a high purity “titanium hydrolysate” from the titanium processing phase. The company has now shipped samples of its new titanium bearing concentrate to potential offtake customers to evaluate.

Black Rock nears final EPC contract for graphite mine

Black Rock Mining is a step closer to developing its mammoth Tanzanian graphite mine, inking a framework agreement with a Chinese firm to act as head EPC contractor. A deferred payment schedule will result in over 30% of the contract being paid only after the plant passes certain performance hurdles. The agreement is with Chinese Government-owned China Railway Seventh Group Co.

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Roger Hussey

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Thought LeadershipView all

Lessons learned from our farmers

Recently, I had the privilege of escorting a second group of CEOs, from The CEO Institute, to visit the business of one of the members.  He happens to be a farmer and produces crops of various types,

The future of mining rehabilitation is here

It’s a well-known fact that mining has been a significant primary industry and a major contributor to the Australian economy since the 1800s, with more than 150,000sqkm of Australia’s land surface dir

The new Australian property dream

Australia’s love affair with a home among the gumtrees and a verandah out the front on a quarter acre block is forcing many into hour-long commutes at the expense of quality time with their families. 

Welcome to the future of green city living

A new development in Subiaco is looking to shake-up the urban landscape with a series of sustainability initiatives. 

World leading edtech company Crimson Education forms groundbreaking partnership with inspired schools

Inspired’s Teachers and Students to Gain Access to Crimson’s Global World Leading College Counselling Services and Technology Platform