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

Corporate Finance DealsView all

Cycliq to raise up to $2m

Perth-based Cycliq has announced plans to raise up to $2 million as the cycling products developer ramps up its business in the lead-up to Christmas.

Healthscope opens books to $4.5bn offer

Healthscope has opened its books to Brookfield Capital Partners after the private equity firm made a $4.5 billion play for the private hospital operator, trumping a rival offer already on the table.

Navitas rejects $2bn takeover

The board of Navitas has rebuffed a $2 billion takeover offer from a consortium of investors, which includes co-founder Rod Jones, saying the deal is well below its valuation of the education services company.

Woolies sells fuel stations in $1.7bn deal

Woolworths has announced the sale of its 540 petrol stations to UK-based EG Group for $1.73 billion, months after BP pulled out of a deal to buy the fuel business.

Hopkins to take charge at AMA

National automotive services business AMA Group has struck a $68 million deal with new investors, which includes a big share selldown by management, after Perth-based Andrew Hopkins became the company’s chief executive.

Politics & the EconomyView all

Investment sets economic growth agenda

ANNIVERSARY SPECIAL: The growth in household disposable income provides a graphic illustration of the effect of 25 years of technological change and investment in WA. This article is part of a special series to mark Business News' 25-year anniversary.

Successive premiers grapple with state’s volatile economy

ANNIVERSARY SPECIAL: A boom-bust economic cycle and wrangles over GST funding are two of the challenges to have faced WA’s political leaders over the past 25 years. This article is part of a special series to mark Business News' 25-year anniversary.

Working holiday visa restrictions relaxed

Backpackers and other visitors on working holidays will be able to stay in Australia longer under a federal government plan to help farmers fill job shortages.

Report finds battery-making debate overcharged

A new report has cast doubt on Western Australia's suitability as a lithium battery-making hub, claiming low labour productivity, distance from major markets and difficulties sourcing the necessary material as barriers to any potential development.

Sprawl costs public transport

A national study by Infrastructure Australia has found that Perth residents are among those least likely to use public transport for their daily work commute, despite good accessibility in outer suburbs and subsidies covering about 70 per cent of the cost of a trip.

Upcoming Business News EventsView all

PropertyView all

Green light for Karrinyup shopping centre development

AMP Capital will begin a long-awaited $800 million development at Karrinyup Shopping Centre next week, increasing the size of the centre from about 60,000sqm to almost 110,000sqm.

Swedish construction firm enters WA market

Swedish construction company Serneke Group, which has annual turnover of $940 million, has established a foothold in the local market by purchasing an equity stake in Nedlands firm Consortium Builders.

Brown-Neaves tips in to Atop by MGroup

A Beeliar subdivision has attracted investment from one of the state’s best-known names in home building.

Quay Perth set to open in 2019

The redevelopment of the former New Esplanade Hotel near Elizabeth Quay is scheduled for completion in the first quarter of 2019, with the new facility set to feature a rooftop bar and co-working spaces.

BGC offloads Aloft hotel

BGC Australia has agreed to sell the Aloft Perth hotel and associated office development in Rivervale to Singapore-based Hiap Hoe Ltd for $100 million, but is still chasing a buyer for a second, larger hotel it developed, The Westin Perth.

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

Theatre Trust leads big changes

Duncan Ord is overseeing major changes to the way in which the Perth Theatre Trust manages arts venues and the Perth Cultural Centre.

Telling tales at Linton & Kay

Perth artist Leon Pericles will tomorrow launch a major art exhibition of more than 400 works at Linton & Kay Galleries in West Perth, which will run until November 23.

Magadza’s vision for arts direction

More than a decade spent working with international arts festivals in Perth and New Zealand has given Shelagh Magadza a unique insight into how culture and the arts reflect the societies in which they exist.

Popular Northbridge bar in limbo

The future of the Perth Cultural Centre’s Picabar has been placed in doubt, after its operators disclosed their lease had been terminated by the state government, which has transferred management of the precinct to the Perth Theatre Trust.

Holmes a Court, Perron at odds over art

Art Gallery of WA chair Janet Holmes a Court has gone head to head with Perron Group over the planned relocation of an artwork in the foyer of the Central Park office tower.

EnergyView all

RAC invests in $15m EV chargers

The Royal Automobile Club of WA has invested in Sydney-based Chargefox’s $15 million rollout of electric vehicle charging stations across Australia, which includes two in Perth.

Woodside, ENN pursuing options

Woodside Petroleum has signed a cooperation agreement with Chinese gas company ENN, while it is continuing work on the Scarborough, Browse and Pluto projects.

Govt seeking more info on waste project

Just hours after the developers of a $670 million waste-to-energy project announced they planned to start construction after obtaining all necessary approvals, the state government disclosed it has asked the Environmental Protection Authority to conduct further investigations.

$670m waste-to-energy project to proceed

Construction of Australia’s first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

Coal powers ahead amid political pressure

As the key commodity soars on healthy demand in Asia, big Australian companies may be rueing decisions to offload valuable coalmining assets in the face of intense opposition.

"Mark My Words" PodcastsView all

09 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the BHP derailment, lithium plant approval, North West Shelf Gas agreements, construction news, hotel developments, PEXA sale, and our special report on WA's innovation awards.

02 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

26 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss market volatility, young rich, gaming fortunes, property taxes, fraud cases, Cisco and our special report on commercial property.

19 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss waste-to-energy development, Port Hedland property, Airbnb regulations, unemployment, tech listings, and our special report on WA's biggest exporters.

12 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss investment market volatility, property prices, BGC, Navitas heads three major deals in the offing, restaurant awards, Beaumonde Catering, Julie Bishop, and our special report on ICT infrastructure

Food & WineView all

Settlers Tavern finds growth formula

Never settling for second best, a hardworking couple has spent the past 15 years transforming Margaret River’s local pub, Settlers Tavern, into a venue of national note.

Xanadu wins top gong

Margaret River-based Xanadu Wines has claimed the coveted Jimmy Watson Memorial Trophy at the Royal Melbourne Wine Awards, which were held last night.

Small fish expanding the gin pool

WA gin distillers Grumpy Fish and The West Winds Gin are taking small steps in a crowded market, using local flavours and sustainable techniques to attract lovers of the spirit.

Regional restaurants beat Perth in Food Guide

Regional restaurants have received the top accolades in Western Australia, as the national Good Food Guide released its 2019 edition.

Winemaker gives up fight with Peru

A Margaret River winemaker has given up a fight with the Peruvian government, claiming the South American country has bullied him out of the use of the name Pisco.

Special ReportsView all

Fund Managers 2018

Fund Managers 2018

05 November 2018

New strategies to deliver returns

Funds grow as dynamic shifts
Ibaera filling a funding niche
NWQ making volatility work
Commercial property 2018

Commercial property 2018

29 October 2018

Foreign buyers lift market share

Perth office market absorbs foreign funds
Brookfield builds for the future
Sirona positive on Perth growth
Biggest Exporters 2018

Biggest Exporters 2018

22 October 2018

Rio Tinto leads our updated rankings

Exports jump as outlook improves
Mid-tier miners iron out positions
Agribusiness chews on challenges
Corporate finance September 2018

Corporate finance September 2018

08 October 2018

Review of September quarter deals.

Gold revival boosts deal flow
Mining, energy take IPO reins

MiningView all

Incitec takes $7m WA loss

Explosives manufacturer Incitec Pivot has reported a 34.8 per cent fall in profit for the year to September, including a $7 million hit from lost business in Western Australia.

Business builders give way to corporate capital

ANNIVERSARY SPECIAL: From those who risked their own capital to the corporate cowboys of WA Inc and the ‘hired help’ of today, WA’s corporate story features many powerful personalities. This article is part of a special series to mark Business News' 25-year anniversary.

New CEO for Metals X

Poorly performing copper miner Metals X has appointed Damien Marantelli as its new managing director, with incumbent Warren Hallam and chief operating officer Allan King leaving the company.

MinRes confirms train derailment

Mineral Resources has confirmed that about 30 empty iron ore wagons were derailed on a return train trip to the company’s Koolyanobbing mine near Southern Cross on Sunday.

Junior miners to raise $5m

Two local junior explorers have announced capital raisings, with Arafura Resources to launch a $3 million share purchase plan and Encounter Resources receiving a $1.8 million investment from Peter Bradford-led Independence Group.

OpinionView all

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the BHP derailment, lithium plant approval, North West Shelf Gas agreements, construction news, hotel developments, PEXA sale, and our special report on WA's innovation awards.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

Bold choices required to secure prosperity

Opinion: A Committee for Perth report says the WA capital has dropped the ball, and lacks a strategy for its economic future.

Align interests with outcomes

Opinion: Why not align private sector tax cuts to cost-effectively improving the performance of education and health?

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss market volatility, young rich, gaming fortunes, property taxes, fraud cases, Cisco and our special report on commercial property.

RetailView all

Tommy Hilfiger opens Perth store

International designer clothing brand Tommy Hilfiger has today opened its first full-price store in Western Australia, with a new outlet located in the Claremont Quarter.

Roger David menswear closing down

Roger David, which operates eight stores across Perth, is closing down after 76 years of business, with the menswear retailer collapsing in the face of competition from international and online rivals.

Retail reward for Quick Flick

A retail deal with Priceline Pharmacy is the latest win for local makeup business The Quick Flick, which was launched last year by Perth university student turned entrepreneur Iris Smit.

SCA in $270m Perth shopping spree

Sydney-based SCA Property Group has purchased four Perth shopping centres for a combined $269.4 million as part of a larger deal with ASX-listed Vicinity Centres.

DVG owner expands to east coast

Three years after taking a majority stake in Perth company DVG Automotive Group, Japanese outfit IDOM has made its first move into the east coast car market, purchasing Melbourne-based Andrews & Wallis Motor Group.

SkylineView all

Skyline

Property Council cautiously backs noise reforms

The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.

Hibernian Place tops UDIA awards

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

Regus takes space at new Raine Square office

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Access key at Linc industrial estate

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

The Village Margaret River on the market

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

Bulls N' BearsView all

Bulls N' Bears

Australian Potash drilling expands resources

Australian Potash has successfully intersected brines in recent deep aircore drilling at its Lake Wells sulphate of potash project located near Laverton in WA. All new drill holes ended in permeable deep sand aquifers suitable for abstracting the drainable mineral commodity. The new data should allow an upgrade of the existing resources into the measured status of classification, ahead of the company’s highly anticipated DFS.

Numbers keep rolling in for Adriatic

Adriatic Metals has revealed another exceptional intersection from its Bosnian, multi-commodity play with the latest numbers from the Rupice prospect turning up a serious looking 18 metre intersection grading 17.6% zinc, 9.4% lead, 3.8g/t gold and 508g/t silver from 162m down-hole. The result is 100m up-dip from a previous high grade result and grows the mineralised footprint ahead of the company’s maiden resource estimate.

Azumah to plough 40,000m of drilling into Ghana

Azumah Resources has kicked off a massive 40,000m multi-target drilling campaign to be managed and funded by Perth mining investment fund Ibaera Capital. Azumah is seeking to achieve a major boost to its resource and reserve numbers at the interesting looking project as it looks to deliver a feasibility study by the end of the year.

New drill results expand Myanmar’s Bawdwin ore system

Myanmar Metals has delineated significant extensions to the China Lode during resource development drilling at its Bawdwin base metal project in central Myanmar. The work is targeting areas outside of the existing mineral resources and those resources with lower confidence inferred status. Results included 32m @ 4.2% lead, 0.9% zinc and 91g/t silver from 81m down-hole that falls outside the current resource, but inside the optimised open pit shell.

Calidus drills high grade gold in the Pilbara

Calidus Resources has had further success with its infill and extensional resource drilling program at the Warrawoona gold project in the Pilbara. Encouraging intersections up to 6m @ 7.61g/t gold from 16m down-hole were returned from the St George Shear prospect, whilst results including 2m @ 20.84g/t gold from 88m down-hole and 6m @ 3.82g/t gold from 93m down-hole extended the Klondyke East prospect to over 600m of strike.

Most viewed people

Terry Streeter

Terry Streeter

Non-Executive Director (Chair since 2007), Fox Resources
Non-Executive Chair, Alto Metals
Non-Executive Chair, Moho Resources
Non-Executive Director, Emu

John Poynton

John Poynton

Non-Executive Chairman, Giving West
Council Chairman, Christ Church Grammar School
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Jindalee Partners
Non-Executive Director, Crown Perth
Non-Executive Chairman, Strike Energy
Board of Guardians, Future Fund
Executive Chair, Sapien Cyber

Stedman Ellis

Stedman Ellis

Board Member, FORM

Megan Wynne

Megan Wynne

Founder, Managing Director, APM

Nigel Hearne

Nigel Hearne

Managing Director, Chevron Australia (since 2016), Chevron

Thought LeadershipView all

Canning – a welcoming and thriving City

OPINION shapers from the government, investment, transport and construction sectors were invited to the Business News boardroom to discuss the future development of Perth’s growing south-east corridor

Breast Cancer Researcher Honoured with Order of Australia

In September, Professor Arlene Chan was awarded a Member of the Order of Australia for her services to breast cancer research. The clinical trials she leads are helping to increase survival rates in breast cancer patients.

Fair Work Changes to Casuals

Australian Industrial Relations legislation has provided casual employees with a 25% casual loading to compensate for paid sick and annual leave, redundancy and other entitlements, but this has now been challenged by an unprecedented Federal Court decision, followed by updates to all Modern Awards.

Energy efficiency makes learning a breeze at South Bank TAFE

TAFE Queensland’s South Bank campus is a multi-building tertiary educational facility located in Brisbane’s South Bank Precinct. It was Queensland’s first PPP (Public Private Partnership).

New gaming and networking facility prepares students for the workplace of tomorrow

Technology has changed the way we live and work so much that it’s heralded a new era.