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

Corporate Finance DealsView all

Perth energy stock completes Canada deal

Shares in Global Energy Ventures have recommenced trading on the ASX today following a $4 million capital raising and the purchase of a Canadian marine transport technology business.

Moly Mines in $51m Qld takeover

One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.

Agency Group buys Servtech businesses

Listed real estate firm Agency Group Australia, formerly Ausnet Financial Services, has acquired three arms of struggling tech company Servtech Global Holdings for less than $1 million, while also announcing a $3 million capital raising.

Smartgroup buys Fleet West for $9m

Sydney-based listed company Smartgroup has acquired Western Australian fleet management company Fleet West for $9 million in cash and shares.

Nicheliving changes IPO after legal claim

Property developer Nicheliving Holdings has substantially revised its plans for a stock market float after striking a deal to give 20 per cent of the company to a Singaporean investor who recently launched a $21.4 million legal claim.

Most CommentedView all

Design change for Swan River bridge

The state government has approved design alterations to the Swan River pedestrian bridge in an attempt to cut $4 million in construction costs, while also announcing further delays to the bridge’s opening date.

Margaret River Gourmet Escape set to end

Western Australia's premier food and wine event, Margaret River Gourmet Escape, will be held in its current form for just one more year, with the state government planning a reconfigured event that includes the Swan Valley in 2019.

Disputed claims over Scarborough knock-back

The Metropolitan Redevelopment Authority has disclosed that the majority of public submissions on the $450 million Iconic Scarborough development supported the project, but said all government agencies and utilities it consulted, with the sole exception of Tourism WA, opposed it.

Byrnecut slams payroll changes

Byrnecut executive chairman Steve Coughlan has slammed the state government’s decision to crack down on payroll tax exemptions, saying his company will no longer receive the exemption for courses being undertaken by 1,200 employees.

MRA knocks back $450m Scarborough twin towers

The Metropolitan Redevelopment Authority has rejected a $450 million proposal for two towers near Scarborough beach with the developer behind the project, 3 Oceans Property, saying the decision was a missed opportunity to show courage and vision.

Politics & the EconomyView all

Barnett to leave parliament next month

Former Premier Colin Barnett has called time on a nearly three decade parliamentary career, which included leading the Liberal Party to a surprise victory in 2008, and heading a government which increased social support spending and invested substantially in infrastructure.

$A extends its gains against stronger $US

The Australian dollar has extended the gains it made on better-than-expected jobs figures to be higher still against a stronger US dollar.

Gold off 1-week high after strong US data

Gold has dipped slightly, easing off a one-week high as the US dollar rebounded following strong US retail sales data, while palladium rose to its highest since February 2001.

Oil up slightly on pipeline outage support

Oil prices have risen almost one per cent after a pipeline outage in Britain continued to support prices despite data expecting a global crude surplus in the beginning of next year.

Gold near 5-month low before Fed decision

Gold prices have hovered near their lowest in nearly five months as investors awaited an expected US interest rate increase and clues from the US Federal Reserve on its plans for further rises next year.

Upcoming Business News EventsView all

Hyatt Regency Perth - 16 February 2018

Winners announced - 07 March 2018

PropertyView all

Builder amends unfair contracts

Local builder 101 Residential has amended its standard home building contract in response to the consumer watchdog’s concerns that it contained unfair terms and made false or misleading representations.

Saffioti criticises MRA over Scarborough project

Planning Minister Rita Saffioti has taken the unusual step of publicly criticising the Metropolitan Redevelopment Authority, saying she was disappointed in aspects of its handling of the $450 million twin-tower proposal and was looking to improve its transparency and accountability.

Disputed claims over Scarborough knock-back

The Metropolitan Redevelopment Authority has disclosed that the majority of public submissions on the $450 million Iconic Scarborough development supported the project, but said all government agencies and utilities it consulted, with the sole exception of Tourism WA, opposed it.

MRA knocks back $450m Scarborough twin towers

The Metropolitan Redevelopment Authority has rejected a $450 million proposal for two towers near Scarborough beach with the developer behind the project, 3 Oceans Property, saying the decision was a missed opportunity to show courage and vision.

Oversupply to dampen recovery in residential market

BIS Oxford Economics’ latest outlook series report has delivered a stark analysis of expected demand for new houses and land across the Perth market in the near future.

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.
04 Jan 2018 to 10 Jan 2018 | @ 08:45am
11 Jan 2018 to 17 Jan 2018 | @ 08:45am
29 Jan 2018 to 02 Feb 2018 | @ 08:45am
08 Feb 2018 to 09 Feb 2018 | @ 09:00am
11 Feb 2018 to 15 Feb 2018 | @ 04:00pm
13 Feb 2018 | @ 09:00am
17 Feb 2018 | @ 03:00pm

Arts & CommunityView all

Social media support for NFP

Bankwest Foundation has announced Scitech, Propel Youth Arts and Earbus Foundation of WA are among 10 Western Australian not for profits selected to receive social media development services valued at $10,000.

WA joins national disability scheme

The state government has announced its decision to join the National Disability Insurance Scheme (NDIS), replacing the agreement signed in January by the Barnett government for a locally administered NDIS.

Navigating funding maze, theatre group hunts for support

Independent Perth theatre company The Last Great Hunt is seeking to grow its presence in its hometown and strengthen its ties to the business community with the launch of a new donor circle and a crowdfunding campaign.

AGL gives $600,000 to support Surf Life Saving

AGL Energy has announced it will donate $600,000 across three years to Surf Life Saving Western Australia (SLWA) to provide new equipment and funding to 31 clubs across the state.

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.

EnergyView all

WA domgas supply likely secure for decade

Western Australia’s domestic gas market is likely to have sufficient supply for the next decade if Chevron's Gorgon domgas stage two proceeds on time and other replacement fields come online as anticipated, according to the latest Australian Energy Market Operator report.

Woodside installs battery power

Woodside Petroleum expects to cut costs and its environmental footprint after contracting ABB Group to replace one of the gas turbine generators at its Goodwyn A platform in the North-West Shelf with a battery storage micro-grid.

APPEA welcomes fracking reports

Most chemicals used in hydraulic fracking are not harmful, while precautions can be taken to prevent problems from those substances which are, according to a CSIRO report released today.

Chinese group launches $463m AWE takeover bid

A Chinese state-owned energy company has stepped up its efforts to gain control of the Waitsia gas field north of Perth, launching a hostile bid today for oil and gas group AWE after withdrawing its proposal for a friendly takeover earlier this week.

Decmil signs MOU for $275m solar contract

Decmil Group is well placed to secure a $275 million engineering contract for Chinese group Maoneng's 250-megawatt Sunraysia solar project in NSW, after signing a memorandum of understanding to complete early designs for the project.

"Mark My Words" PodcastsView all

15 December 2017

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Scarborough high rise, Colin Barnett, construction jobs, Tox Free, AWE takeover and our person of the year.

08 December 2017

PODCAST: Mark Beyer and Mark Pownall discuss WA’s economic growth, land development softens, Scarborough development knocked back, architecture firm collapse, Mark Povey fined, EPA approves Southbank, gas project bid, company directors cash in and WA’s biggest employers

01 December 2017

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss FMG’s new leadership, the iron ore market, Craig Mostyn’s acquisition, WA's boom/bust economy, Fiona Wood, Rod Jones and the state’s wealth creators.

24 November 2017

In this Business News podcast Mark Beyer and Mark Pownall discuss shipbuilding, Landcorp/MRA merger, Margaret River Gourmet Escape, AHG, Sirona Capital and WA dynasties.

23 November 2017

PODCAST: Mark Pownall talks to Alyka co-founder Zion Ong about current trends in digital marketing.

Food & WineView all

Local producers secure supplier deals at stadium

About 30 small Western Australian food and beverage businesses have made the big leagues, winning contracts that contribute to $150 million committed to suppliers across five years at Optus Stadium.

Healthy ice-cream? You’re welcome

Business partners Charlotte Haygarth and Jayde Taylor are hoping to ride the anti-sugar wave and change the way people perceive healthy, sweet treats.

New city bar grounded in history

A vintage cash register, sepia-stained photos and assorted drapes of corn and chilli line the walls of the city’s newest venue, Market Grounds, a pub that seeks to reflect its roots as occupant of the site where Perth’s early marketplace was established in the 1850s.

Creso in $17.5m placement and chocolate partnership

Medicinal cannabis company Creso Pharma will raise $17.5 million through a strongly supported share placement, while also announcing a partnership with Swiss chocolate firm Aeschbach Chocolatier to develop marijuana flavoured chocolates.

Passion for seafood beats selling spuds

SPECIAL REPORT: The Catalano family has delivered continuity of ownership of its seafood business across three generations, but has implemented several strategic shifts along the way.

Special ReportsView all

Wealth creators 2017

Wealth creators 2017

04 December 2017

WA company directors make major gains

Healthy dividend in building wealth
Tech next step for Jones post-Navitas
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

MiningView all

MinRes to invest $600m in lithium

Mineral Resources has disclosed that its planned lithium processing projects in the Pilbara will cost in excess of $600 million to build, with managing director Chris Ellison also revealing ambitions for more downstream processing projects.

NAB will no longer back new coal projects

National Australia Bank says it will stop lending for new thermal coal mining projects, becoming the first major Australian bank to phase out support for the sector.

Citic hits 2017 target, outlines economic value

Perth-based CITIC Pacific Mining has hit its 2017 production target of 15 million tonnes of magnetite concentrate at its Sino Iron project in the Pilbara, while also releasing a study that shows spending of $51 billion in Western Australia over the next 40 years.

Mineral Commodities to assess graphite processing

Listed company Mineral Commodities has signed a memorandum of understanding to assess the use of Doral's fused alumina plant in Kwinana for downstream processing of natural flake graphite from its proposed mine in WA's great southern region.

Pilbara Minerals to spend extra $50m

Pilbara Minerals has announced multiple changes to its Pilgangoora lithium project, with the company planning to: spend an extra $50 million on development; export unprocessed ore to boost early cash flow; and outsource ore crushing to Mineral Resources.

OpinionView all

Urban no legend in Labor ranks

The state government is facing its first major personnel crisis, and the opposition is keen for a win.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Scarborough high rise, Colin Barnett, construction jobs, Tox Free, AWE takeover and our person of the year.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss WA’s economic growth, land development softens, Scarborough development knocked back, architecture firm collapse, Mark Povey fined, EPA approves Southbank, gas project bid, company directors cash in and WA’s biggest employers

Survey raises doubts on Airbnb’s future growth

Safety and privacy concerns are top of mind for many of those surveyed by Morgan Stanley on the global accommodation provider.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss FMG’s new leadership, the iron ore market, Craig Mostyn’s acquisition, WA's boom/bust economy, Fiona Wood, Rod Jones and the state’s wealth creators.

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.

Borgioli right at home on King Street

It was in the aftermath of a profoundly emotional moment that Terence Borgioli, then 23, decided to chase his dream of starting a luxury fashion business.

Car sales shed August gains

New car sales in Western Australia dipped back into the red last month after showing rare signs of improvement in August.

Blossoming Profresh a cut above

Floral wholesaler Profresh has grown from a one-person business into a team of almost 15, generating $3 million in revenue in just its second year of commercial operations

Most viewed people

Dyno Zhang

Dyno Zhang

Managing Director, 3 Oceans Property

Stephen Gostlow

Stephen Gostlow

Managing Director, Tox Free Solutions

Bert Mondello

Bert Mondello

Executive Director, Chief Executive Officer, ZipTel
Non-Executive Director, WestStar Industrial
Director, Gaming Battle Ground
Non-Executive Chairman, Servtech Global Holdings

Sue Morphet

Sue Morphet

Non-Executive Director, Godfreys

Tim Clark

Tim Clark

Private Client Advisor, Compliance Manager, New York Securities

Thought LeadershipView all

The biggest danger is to act with yesterday’s logic

I don’t think anyone can be in any doubt that we’re operating in a VUCA environment today, with extreme levels of Volatility, Uncertainty, Complexity and Ambiguity.

Perth’s quiet smart creative revolution

When I moved to Perth from Johannesburg earlier this year I was surprised by the views and perspectives of some people I met on the prospects for the WA economy.

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.