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

Corporate Finance DealsView all

Matsa buys Saracen’s Red October

Northbridge-based Matsa Resources has signed an agreement to acquire Saracen Mineral Holdings’ Red October gold mine near Laverton for about $2 million in cash and shares.

Tiger signs $23m facility

Copper-focused Tiger Resources has secured a $US18.2 million ($A22.9 million) facility agreement with two of its existing lenders, to fund ongoing work it its Kipoi operation in Africa whilst it pursues recapitalisation plans.

Seven completes $375m raising

Seven Group Holdings has raised $375 million to help it buy the remainder of equipment hire company Coates Hire, and plans to tap investors for a further $25 million.

Juniors in $26m of deals

Six local resources companies have announced capital raisings of around $26 million for projects including in lithium and rare earths, with one of the businesses, Okapi Resources, planning to join the ASX bourse.

Gascoyne in $60m facility for gold project

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Most CommentedView all

Forrest calls on ARU chairman to quit

Andrew Forrest has called on Cameron Clyne to resign, claiming the ARU chairman misrepresented the reasons he chose to axe the Western Force.

Playing catch-up not a winning strategy

OPINION: As technology increasingly cuts out the middleman, the WA government’s investment in facilities at Perth Airport may have short-lived benefits.

Crowdfunding sought for WA GST legal fight

A Western Australian Liberals-led High Court challenge over the state's GST share will be partly financed by crowdfunding.

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

City retail revamp aims to rival the ’burbs

SPECIAL REPORT: Property groups are chasing retail opportunities in Perth’s CBD with a pipeline of upgrades and developments worth more than $250 million.

Politics & the EconomyView all

Dunsborough Puma planning stoush persists

The two-year saga over a proposed 24-hour Puma fuel station in Dunsborough has taken a new turn, with the Southern Joint Development Assessment Panel lodging an appeal in the Supreme Court against the State Administrative Tribunal’s ruling in favour of the development.

Ritter to head IR review

Unions and businesses have welcomed a review of Western Australia’s industrial relations system, the only remaining state-based scheme operating in parallel with federal laws in the country.

Bio Organics founder seeks council seat

Benjamin Avila hopes that winning a seat on the Shire of Serpentine Jarrahdale council will enable him to assist businesses avoid the fate that befell his.

State aims for 50% women on boards

The state government has set itself the target of increasing the number of women appointed to its boards, committees and advisory bodies to 50 per cent by 2019, though it has a long way to go before hitting gender equality at its major trading enterprises.

Visa changes move goals for business

SPECIAL REPORT: Stricter visa rules are making it harder for businesses in WA to explore overseas options to meet their skilled labour needs

Upcoming Business News EventsView all

Hyatt Regency Perth - 28 November 2017

Winners announced - 07 March 2018

PropertyView all

Fresh take for RSM near the quay

Fostering a collaborative and interactive workplace culture was a key driver behind the design of RSM’s new office space at Exchange Tower.

BGC out of HIA 100

Dale Alcock’s ABN Group has been listed as the largest residential builder in WA in the latest Housing Industry Association top 100 ranking, but more intriguing is the disappearance of long-time industry leader BGC and the inaugural listing of Ventura Home Group.

B-grade buildings in limbo

A new vacancy index has provided a different perspective on vacant office space across Perth’s metropolitan region.

Transport noise policy revamp

Striking a balance between transport corridors and urban development is the main objective of a revised planning policy that aims to mitigate road and rail noise for new residential projects.

Liar loans symptomatic of poor home loan practices

ANALYSIS: If a full-blown mortgage crisis were to hit Australia, it will have been brought about by mismanagement at all stages of the home-loan process.

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

Art scene: Proximity Festival

With the development of new projects in Perth’s east end under way as part of the Historic Heart project led by Adrian Fini, it is perhaps fitting that the Proximity one-on-one performance arts festival will take place at Cathedral Square for 2017.

Entrepreneurs stitch-up sweet live music deal

A Murray Street basement once home to the pattern cutters and seamstresses of Perth fashion label Pierucci is set to become the city’s newest live music venue, The Sewing Room.

Artist in residence with Hugh Brown

Documentary photographer Hugh Brown first picked up a camera in 1998 when he fell in love with Western Australia’s red-earthed Kimberley, and the journey that started nearly two decades ago shows no sign of ending.

Creative approach to community change

SPECIAL REPORT: On the runway and in the shopfront, fashion has become an instrument for changemakers who want to make a difference in the community.

Offshore, onshore success by design

SPECIAL REPORT: Whether they’re manufacturing locally or abroad, WA fashion designers and garment makers are still winning contracts and stockists here and overseas.

EnergyView all

Stochastic into liquidation

Oil and gas software developer Stochastic Simulation has gone into liquidation, about five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best-case scenario.

Horizon beats subsidy cut target

State-owned regional power provider Horizon Power has recorded a $35.4 million net profit for the year to June, while hitting its targeted reduction of government subsidies more than a year ahead of time.

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

Empire production assets under receivership

Updated: Empire Oil & Gas has appointed voluntary administrators to its wholly-owned Empire Oil subsidiary, which controls its core Red Gully assets.

Turnbull to stare down energy revolt on backbench

Malcolm Turnbull is staring down coalition backbenchers concerned that a proposed clean energy target could push up power prices and undermine coal-fired power.

"Mark My Words" PodcastsView all

26 September 2017

Stephanie Buckland enjoys the challenges of change, and has brought a wide range of professional experience to her current role as Amana Living CEO.

22 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss Perth house prices, CBD developments, charity funding and Lotterywest, Perth Stadium and the gold sector.

15 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss Nev Power leaving FMG, safe harbour legislation, women on WA boards, stamp duty setback and labour markets.

11 September 2017

Tertiary education may not have sat comfortably with Justin Miller, but his connections to Curtin University have played an important role in the development of his Sensear and Nuheara businesses.

08 September 2017

In this Business News podcast Mark Pownall and Mark Beyer discuss the state budget, contractor collapses, Lisa Scaffidi, advertising industry, ageing population and corporate wellness.

Food & WineView all

Opportunity brewing at Whitfords

The recent revamp of Westfield Whitford City’s hospitality precinct crafted the perfect business opportunity for Beerland Brewing to open its second venue today.

WA considers minimum price on alcohol

The state government is considering enforcing a floor price on takeaway booze to stop people getting drunk on cheap alcohol, but the opposition says it is a cost impost on households and red tape burden on businesses.

WA venues win national awards

Four Perth hotels and hospitality businesses, including Fraser Suites and the State Buildings, have been named best in their field at the annual Australian Hotels Association National Awards for Excellence.

Cheeky Monkey on board Singapore Airlines flights

Margaret River's Cheeky Monkey Brewery Co is celebrating today with news Singapore Airlines will offer its locally brewed craft beer on business class flights between Perth and Singapore.

Howard Park Wines sparkles in world championship win

Howard Park Wines recently flaunted its fizz at the Champagne & Sparkling Wine World Championships held in London, with its Jeté label winning the award for ‘best Australian sparkling wine’.

Special ReportsView all

Gold prospects

Gold prospects

26 September 2017

Royalty hike threatens big spending plans.

Royalty rise puts damper on gold spend plans
Emerging producers tackle challenges
Recruitment sector

Recruitment sector

18 September 2017

WA recruiters diversify business models

Recruiters adapt to a changing marketplace
Visa changes move goals for business

MiningView all

ASX rejects gold royalties ‘Tanzania’ claim

The Australian Securities Exchange has asked the Chamber of Minerals & Energy of Western Australia to retract a statement claiming the ASX could force listed gold miners to suspend trading in their shares because of the planned increased in WA's gold royalty.

Clark to lead Kasbah

Tin explorer Kasbah Resources has recruited former Wolf Minerals boss Russell Clark as its new chief executive.

Emerging producers tackle challenges

SPECIAL REPORT: Blackham Resources has overcome a number of hurdles following its transition from explorer to producer, while the state’s emerging miners wrapped-up a busy 12 months.

Royalty rise puts damper on gold spend plans

SPECIAL REPORT: The gold royalty hike proposed in this month’s state budget has stunned the sector, amid big spending plans for the year ahead.

Barminco recruits Thiess exec as CEO

Mining contractor Barminco has announced the recruitment of Thiess executive general manager Paul Muller as its new chief executive, succeeding Peter Stokes who resigned last month.

OpinionView all

Ducks line up for outer harbour

OPINION: Value to the community is not always about maximising price

Labor faces upper house highwire act

OPINION: Labor will need to compromise if its budget plans are to pass the parliament, and a push for upper house reform may not be out of the question.

Mark my words podcast

In this Business News podcast Mark Pownall and Mark Beyer discuss Perth house prices, CBD developments, charity funding and Lotterywest, Perth Stadium and the gold sector.

This week's property round-up

OPINION: Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 583.

Targeted tech funding vital

OPINION: While the dollar amounts are small, the recent state budget contained some positive news for startups and the tech sector.

RetailView all

Kathmandu lifts profit by 14%

Adventure gear retailer Kathmandu's annual profit has risen 13.5 per cent, thanks to strong sales, innovative products and cost cuts.

Remuneration boost for Goyder, Mackenzie

Wesfarmers managing director Richard Goyder landed a $12.1 million pay packet in his final full year in charge of the Coles and Bunnings operator, while BHP Billiton chief executive Andrew Mackenzie also lifted his total income, but he remained a long way short of the Perth businessman.

Perth stores safe, for now, as Myer cuts back

Myer's six Perth stores appear to have escaped the chop, with the retailer instead closing an additional three interstate stores as it struggles to turn around sluggish sales amid weak consumer spending and growing industry competition.

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

AHG profit down but outlook positive

Perth-based Automotive Holdings Group has delivered a lower full-year net profit result on the back of restructures and one-off costs associated with its refrigerated logistics business.

Most viewed people

Tony Iannello

Tony Iannello

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Xi Xi

Xi Xi

Non-Executive Director, Zeta Resources
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Oliver Cairns

Oliver Cairns

Non-Executive Director, Galena Mining
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Stephen Johns

Stephen Johns

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Thought LeadershipView all

Want to lower costs AND improve productivity by 30%?

In 2007, Google created a dedicated analytics team to support their People Operations (Human Resources) function and thus coined the term people analytics.

FOCUS ON CYBER SECURITY

Leading-edge data and information security services are needed at a time when cyber threats are ever-present, and growing. 

Maritime issues In The Zone

The annual ‘In The Zone’ conference encourages Western Australians to think globally and, specifically, to look north.

Babies and Business are not Mutually Exclusive

Nearly two in every five employees have caring responsibilities for children; so, chances are your business employs one or more working parents.

Will the right location give your small business the edge?

According to the recent Bankwest Curtin Economics Centre report entitled “The Engine Room for Growth? - The Role, Performance and Future Prospects of Small Business in Western Australia”, small business accounts for 97 per cent of all businesses in the State, has a value added contribution of $39.7 billion, and accounts for 41 per cent (512,000 persons) of WA’s overall employment.