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

Corporate Finance DealsView all

AFG in $10.9 million property lender buy

West Perth-based Australian Finance Group has announced it will purchase a 30.4 per cent stake of Sydney-based commercial property lender Think Tank Group for $10.9 million.

Hopkins in $508m panel beating buyout

Perth-based Andrew Hopkins has led a $508 million buyout of national panel beating business AMA Group, with the deal backed by private equity giant Blackstone.

Large deals boost capital raisings

The value of Western Australia-related equity capital markets deals jumped to $4.2 billion in the March quarter, helped to a large degree by a handful of large transactions.Of the 140 March-quarter de

AWE, Finders battles add M&A spice

SPECIAL REPORT: Corporate advisory firm Argonaut had a lead role in two of the most hotly contested takeover battles in WA in recent times.

Pacific Energy finds smooth M&A path

SPECIAL REPORT: Ten years after completing a company-defining acquisition, remote power operator Pacific Energy has struck another similar deal.

Most CommentedView all

Tourism boss dumped

The director general of the Department of Jobs, Tourism, Science and Innovation, Stephen Wood, will be leaving his job next week, after the government said it was not satisfied with his management of the tourism portfolio.

Hopkins in $508m panel beating buyout

Perth-based Andrew Hopkins has led a $508 million buyout of national panel beating business AMA Group, with the deal backed by private equity giant Blackstone.

Miss Maud Hotel sold to Stockholm Hotel Management

Miss Maud’s Swedish Hotel and Restaurant at the corner of Pier and Murray streets has been sold to private company Stockholm Hotel Management, with the price rumoured to be around $10 million.

Cafes close in ATO battle

Perth venues The London Court Cafe and Black Tie Co have closed their doors in recent weeks, as the holding company controlling the two brands enters liquidation following a dispute with the Australian Taxation Office.

Kim Beazley appointed WA governor

Former deputy prime minister and diplomat Kim Beazley has been appointed Western Australia's 33rd governor.

Politics & the EconomyView all

Deeks chosen to boost WA trade

The state government has appointed Civmec defence general manager Mike Deeks as its new London-based agent general for Western Australia.

Power to lead City of Perth inquiry

The state government has appointed Francis Burt Chambers lawyer Tony Power to undertake a year-long inquiry into the City of Perth, after the council was suspended last month following a tumultuous period.

Perth inflation just 0.1% in March

Perth's inflation rate was just 0.1 per cent in the March quarter, bringing the total increase in consumer prices in the past 12 months to just 0.9 per cent, well below the national inflation rate of 1.9 per cent.

Further consultation for energy guarantee

State governments have approved more detailed design work on the National Energy Guarantee to proceed at a Council of Australian Governments energy ministers meeting today, although Labor state leaders still have objections.

Live export ban cost up to $150m

The cost to Western Australian farmers of a ban on live sheep exports could be more than 10 times previous estimates, as much as $150 million, according to a report released today.

Upcoming Business News EventsView all

Hyatt Regency Perth - 03 May 2018

PropertyView all

Perth CBD office sales reach $740m

Perth’s CBD office market recorded $740 million worth of major transactions in the 12 months to March 2018, more than three times higher than it was this time last year, according to research undertaken by Savills Australia.

Architects adapt, future-proof services

Doing more with less is common practice for most businesses in an economic slowdown and the state’s architects are no different, with many adapting and evolving their services to win work.

Heritage a Melbourne drawcard

The Melbourne Hotel is hoping its $40 million makeover, which aims to strike a balance between old and new, will give it a competitive edge in the Perth market.

Jaxon wins $35m aged care project

Craigcare has appointed local builder Jaxon to deliver its third aged care facility in Western Australia, located on Grandstand Road in Ascot.

ADC proposes new East Perth precinct

A private syndicate of local investors led by Australian Development Capital has contracted to acquire a state government site in East Perth where it plans to develop a town centre with residential, retail, office accommodation and community space.

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

Stewart targets Raine cheques

New chair Jan Stewart will be looking to grow awareness and financial support for the intergenerational Raine health study.

Walsh to chair national arts council

Former Rio Tinto chief executive Sam Walsh will take up the position of Australia Council of the Arts (ACA) chair, as of July, after almost two years on the board.

Web puts photographers in the picture

Perth photography business Salty Wings is a prime example of how creatives in the 21st century can drive success off the back of social media.

End Homlessness WA launches on Adelaide Terrace

A group of not for profits that joined forces 18 months ago with a mission to end homelessness will today publicly launch its 10-year plan on Adelaide Terrace, followed by a music event through the streets of the CBD.

Social enterprise for homeless seeks $50,000

An emerging social enterprise, The Underground Collaborative, is seeking about $50,000 to provide employment pathways for Perth’s homeless and disadvantaged amid plans to roll out a series of coffee carts across local parks.

EnergyView all

Two additions to Horizon Power board

The state government has appointed Stephen Edwell chair of Horizon Power, and added Kylie Chamberlain to the utility’s board.

Solar/crypto project for Collie

Collie could soon be home to a 20 megawatt solar farm and cryptocurrency 'mining' operation, after the Southern Development Assessment Panel recommended approval for a project led by energy entrepreneur Ben Tan.

Sunrise secures $7m solar win

A solar power company founded by former Western Power manager Neil Danby and olympic basketballer Andrew Vlahov has picked up its first contract, winning $7 million of work for Image Resources’ Boonanarring mineral sands project.

Gorgon build will mean workflow for contractors

Chevron’s decision to build stage two of the Gorgon LNG project, announced on the weekend, takes the total value of petroleum industry investment committed or under construction in Western Australia to around $55 billion, according to state government data.

Alinta unveils $45m Pilbara battery

A new utility-scale battery launched in the Pilbara by Alinta Energy today will be Australia’s second biggest, behind Elon Musk’s Tesla battery in South Australia.

"Mark My Words" PodcastsView all

20 April 2018

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss Gorgon stage two, corporate tax debate, defence contracts, employment data, fracking ban, tourism, and our building and construction feature.

20 April 2018

A survivor of the tech wreck, Andrew Hall tasted success in the venture capital space before launching his own new startup, Formalytics.

13 April 2018

PODCAST: In this Business News podcast Mark Beyer, Matt Mckenzie, and Tori Wilson discuss Synergy and renewable energy, the Atlas Iron takeover, live sheep exports, Bill Shorten’s Perth visit, a new report on Kwinana, and the debate over training and apprenticeships.

06 April 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss house price recovery, lithium contract win, automation in WA, remuneration report, GST, indigenous contracting, our feature on corporate finance includes big recent takeovers and the trends in other mergers and acquisitions + a capital raising wrap-up.

06 April 2018

After some early travel for work and moves within the resources sector, consistency has been a hallmark of Peter Harold’s career.

Food & WineView all

Fresh greens at your fingertips

Indoor plant solutions startup Urbotanica is hoping to springboard off the growth in healthy food preparation appliances with the launch of its UrbiPod.

Cafes close in ATO battle

Perth venues The London Court Cafe and Black Tie Co have closed their doors in recent weeks, as the holding company controlling the two brands enters liquidation following a dispute with the Australian Taxation Office.

Jamie Oliver's Aust business hits trouble

Jamie Oliver's business woes have deepened with his Australian restaurant group falling into voluntary administration.

Aust wine exports to China pass $1bn

Lower tariffs have helped boost the value of Australian wine exports to China in the year to March 2018 to more than $1 billion - the first time that exports to a single country have hit that level.

Crafting the perfect brew

WA’s beer offering today is a world away from the limited choices of just a few decades ago.

Special ReportsView all

Construction 2018

Construction 2018

23 April 2018

Big builds bring confidence

Big builds bring confidence
Payments’ security under review
Dismantling the status quo
Apprentices and training 2018

Apprentices and training 2018

16 April 2018

Struggle to meet market needs
Businesses wary of tax training plan
Most Influential 2018

Most Influential 2018

26 March 2018

The key players in politics, business, arts and property

Leadership can take many forms
Saffioti plans taking shape
Influencers and innovators shape arts sector outcomes

MiningView all

Pacific to build 52MW MinRes power station

Perth-based Pacific Energy, through its newly acquired Contract Power Group, has secured a contract with Mineral Resources to build a 52-megawatt power station at the Wodgina lithium project.

Panel blocks major shareholder

The Takeovers Panel has blocked a major shareholder of Finders Resources from accepting the recent takeover offer after the corporate watchdog submitted an application to the panel.

Cost increases for FMG

Fortescue Metals Group has recorded higher production costs during the March quarter, while iron ore shipments were down slightly for the period.

Iluka Resources hit with class action

Iluka Resources has been served with a class action, with a group of shareholders alleging the mineral sands miner misled the market six years ago.

Mining for local talent

The WA School of Mines should include new disciplines and postgraduate degrees to insulate it from the cyclical resources economy, and help it become a global leader in its field, according to three former students who are now industry leaders.

OpinionView all

Digital drive gives power to the people

Keeping pace with the changing demands of a digital marketplace is a challenge for many in business.

Mark my words podcast

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss Gorgon stage two, corporate tax debate, defence contracts, employment data, fracking ban, tourism, and our building and construction feature.

Political posts and power plays

Opinion: The departure of career public servant Stephen Wood has raised questions about the role of the bureaucracy in providing frank and fearless advice.

Union of convenience may be a step too far

Past overreach on IR and current political realities combined to mute the federal government’s options in terms of the new ‘super union’.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer, Matt Mckenzie, and Tori Wilson discuss Synergy and renewable energy, the Atlas Iron takeover, live sheep exports, Bill Shorten’s Perth visit, a new report on Kwinana, and the debate over training and apprenticeships.

RetailView all

Coles' third quarter sales lift 0.9%

Coles' food and liquor sales rose in the third quarter, with parent company Wesfarmers citing lower prices and improved service and quality for customers.

Economists unconvinced by retail surge

Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.

Retail sector feeling the heat

Analysis: The franchising model could become the latest victim of the pressure being heaped on the retail sector.

Cashies delivers on profit expectation

Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.

Yowie tumbles on US competition

Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.

Most viewed people

Ben Tan

Ben Tan

Founder, Hadouken

Neville Bassett

Neville Bassett

Company Secretary, Yowie Group
Company Secretary, Non Executive Director, Laconia Resources
Principal Director, Westar Capital
Company Secretary, Australian Vanadium
Non-Executive Director, Company Secretary, Pointerra
Company Secretary (Director -2017), Quantify Technology Holdings
Company Secretary, Surefire Resources
Non-Executive Chair, Auris Minerals

John Poynton

John Poynton

Director, Linc Property
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

John Young

John Young

Managing Director, Spitfire Materials

Sally-Anne Layman

Sally-Anne Layman

Non-Executive Director, Imdex
Non-Executive Director, Gascoyne Resources
Non-Executive Director, Perseus Mining
Non-Executive Director, Pilbara Minerals

Thought LeadershipView all

Empower your team with Digital

A workplace is no longer the physical office space or place of work, it is wherever work takes place. Network barriers, organisational silos, lack of knowledge sharing, restrictive work practices

Financial Counselling - An Integrated Response

Members and volunteers are at the core of the work that Vinnies does, and last financial year these remarkable people assisted over 38,000 Western Australians.

Set your business up for 457 Visa changes

For over 20 years, Australian businesses have taken the option of engaging overseas employees through 457 sponsorships.

Embracing uncertainty on the road to new ways of working

With 30 years of experience in the finance industry and over 15 of those in leadership roles I, like most leaders, would like to think I’ve adapted to and have been able to embrace a number of leaders

How is Community Service Good for Business?

Attracting and retaining talented individuals is a challenge faced by many, if not most, businesses and increasingly it is the ‘intangibles’ you offer that can make all the difference.