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

18 Jul 2019

Woodside Petroleum has reported a 32 per cent drop in second-quarter revenue, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.

South32

Worsley set to operate at nameplate

Real Estate Institute of Western Australia

18 Jul 2019

South32 expects to reach nameplate capacity at its Worsley alumina operation this financial year, and revealed its coking coal production rose sharply from the year prior.

Prices for houses weaken, units improve

Department of Water and Environmental Regulation

17 Jul 2019

The latest REIWA data has confirmed more bad news for those looking to sell their house, but the prices of units experienced a surge in the June quarter.

Chinese firm faces WA land clearing charge

17 Jul 2019

The WA government is considering prosecuting a Chinese company over unauthorised land clearing at a pastoral station in the state's north, as shocked traditional owners say important flora including boab trees have been ripped up.

Department of Transport

Fairness concern in taxi buy-back

17 Jul 2019

Investors who bought taxi plates as prices fell after Uber entered the market could receive more compensation than long-term drivers, as payments under the state government’s taxi buy-back scheme begin flowing this month.

Market Charts View all

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Corporate Finance DealsView all

Elders

Elders makes $187m takeover bid for AIRR

15 Jul 2019

Elders has made a $187 million scrip and cash offer for unlisted private wholesale buying group Australian Independent Rural Retailers.

VRX Silica

VRX signs Muchea silica deal

11 Jul 2019

Shares in VRX Silica have surged to 16 cents today, a rise of 33 per cent, after it entered into a strategic alliance with China Southern Glass related to its Muchea silica sand project.

Argonaut

Private M&A boosts deals flow

09 Jul 2019

The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.

Intermin Resources

Kingwest buys gold projects for $8m

09 Jul 2019

Intermin Resources has reached an agreement to sell its Menzies and Goongarrie gold projects for a cash-and-scrip consideration of $8 million.

Oakover Wines

Yukich pulls Blue Cow from administration

08 Jul 2019

Graeme Yukich’s European Foods has purchased Blue Cow Cheese, which went into administration last month.

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City of Kwinana

Costco has $50m Kwinana store in its sights

16 Jul 2019

The City of Kwinana could become home to one of two Costco stores planned for Perth, after the Western Australian Planning Commission approved changes to planning guidelines to facilitate its development.

Norup + Wilson

Building starts on Applecross, Scarborough apartments

12 Jul 2019

Construction has started this week on two apartment projects with a collective end value of $126 million, with Norup + Wilson launching its Beach Shack in Scarborough and Baltinas starting to build its Habitat Residences in Applecross.

Committee for Perth

Perth still lacks ‘that one thing’

15 Jul 2019

A Committee for Perth report has found many residents’ entrenched views about the city’s cultural offering remain hard to shift.

CBRE

Demand stokes office rent rise

11 Jul 2019

Vacancies continue to fall in Perth’s CBD office market, pushing rents up for the first time since 2013.

ANZ Banking Group

WA property confidence second highest in Aus

Fremantle Chamber of Commerce

11 Jul 2019

Despite Perth’s house prices continuing to fall, confidence in Western Australia’s property industry is now the second highest of any state or territory, according to a new survey.

Politics & the EconomyView all

Freo commerce chamber slams media report

Department of Water and Environmental Regulation

17 Jul 2019

The Fremantle Chamber of Commerce has hit back at an article in The West Australian which cast doubt on Fremantle’s economic growth potential.

Chinese firm faces WA land clearing charge

17 Jul 2019

Department of Transport

Fairness concern in taxi buy-back

17 Jul 2019

Labour supply pressure point

16 Jul 2019

Demand for construction workers in Western Australia could double within 12 months, putting pressure on wages and schedules, according to an industry analyst.

Albo weighs in on Perth 'meth zombie' statement

Real Estate Institute of Western Australia

16 Jul 2019

WA opposition leader Liza Harvey's blaming of "meth zombies" for Perth's weak retail sector talks down the WA capital, Labor leader Anthony Albanese says.

PropertyView all

Prices for houses weaken, units improve

17 Jul 2019

The latest REIWA data has confirmed more bad news for those looking to sell their house, but the prices of units experienced a surge in the June quarter.

CBRE

Marriott bringing its Moxy to Perth

17 Jul 2019

The world’s biggest hotel chain is bringing one of its newest brands to Western Australia, with a Moxy Hotel to be built at 195 Hay Street in East Perth.

City of Kwinana

Costco has $50m Kwinana store in its sights

16 Jul 2019

Norup + Wilson

Building starts on Applecross, Scarborough apartments

12 Jul 2019

Podcast: Office Hours with Damian Stone

12 Jul 2019

Office Hours host Damian Stone is joined by one of Perth's foremost retail experts in Lease Equity's Jim Tsagalis, discussing retail challenges in Perth's CBD and high streets, major centre redevelopments and the wider retail environment. Later, Perth MLA John Carey joins Office Hours to talk about what's gone wrong on Beaufort Street, and what can be done to revive the once-popular shopping and hospitality destination.

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..

Arts & CommunityView all

Writing WA turns the page

Black Swan State Theatre Company

17 Jul 2019

Writing WA occupies a unique position in both the arts and business communities in Western Australia.

Black Swan reveals financial strain

10 Jul 2019

WA’s major theatre company has reported a sharp fall in box office sales for the fourth year in succession, along with a small operating surplus, with a big donation from Minderoo Foundation helping to bolster its financial position.

Following Footsteps to self-sufficiency

05 Jul 2019

Keegan Crage has launched an intensive, outcomes-based program called Footsteps to help lift people out of homelessness.

Grant means no need to borrow for The Faim

03 Jul 2019

Perth-based band The Faim had something of a breakthrough year in 2017.

Govt to spend extra $30m on community services

Mannkal Economic Education Foundation

27 Jun 2019

The state government says it will reverse indexation changes made by the previous Liberal National Government, and commit an additional $30.2 million to the community services sector.

Featured PhotographsView all

Jessica Gethin, Perth Symphony Orchestra chief conductor and artistic director.

Fremantle Ports

Hadiqa Moroccan Restaurant & Bar at Hibernian Place

Meeting room and rooftop

Success & Leadership breakfast with Chris Sutherland, Programmed

Element office kitchen

The Melbourne Hotel

Conservatory

Riff powered by SpaceCubed

Riff powered by SpaceCubed

EnergyView all

Twisted outcomes on the grid

15 Jul 2019

Uptake of rooftop solar is being severely distorted by a flawed pricing structure for electricity, forcing higher costs across the grid, according to one of Australia’s leading authorities on energy markets.

NAIF awards $610m loan

11 Jul 2019

Genex Power has secured a $610 million federal government loan to help finance its 250-megawatt pumped hydro project in far north Queensland.

South Regional TAFE

State government announces millions in funding for Collie

28 Jun 2019

Regional Development Minister Alannah MacTiernan announced the Collie Future investment prospectus this morning, touting millions of dollars in funding for the regional town.

Horizon Power

Isolation brings positive push for microgrids

27 Jun 2019

The vast emptiness of WA has proved to be an advantage when developing skills in the rollout of new electricity technology.

Gold Fields

$123m for minesite microgrids

19 Jun 2019

Two microgrid projects worth a combined $123 million have moved forward today as the technology becomes increasingly mainstream, with Gold Fields and GMA Garnet mine sites to have big renewable power and storage components.

Food & WineView all

Rebelles aspire for Beaufort St revival

08 Jul 2019

Liam and Sarah Atkinson have made what some might say is a rebellious move, taking the plunge and setting up a restaurant in the underperforming Beaufort Street precinct.

Cor Cordis

Blue Cow into administration

27 Jun 2019

Food distributor Blue Cow Cheese has been placed into administration, with Cor Cordis’s Joseph Nipps and Clifford Rocke appointed as administrators.

Collins Foods lifts FY profit 20% to $39m

25 Jun 2019

Collins Foods has lifted its payout to shareholders after strong sales at its Australian KFC network helped the company boost full-year profit 20.3 per cent to $39.1 million.

Miss Chow’s continues rapid expansion

21 Jun 2019

Jacquie Chan is set for a busy few weeks, with four new venues under the Miss Chow’s Group banner set to open by the end of July.

Bunsters Hot Sauces

Hot prospects for Bunsters

20 Jun 2019

One of Perth’s sauciest companies is seeking a $5 million valuation with a hand from the Perth Angels.

Special ReportsView all

Apartment developers 2019

15 July 2019

Heightened levels of competition are driving a design renaissance in Perth’s apartment market, as the city’s top developers stake their claim to market segments by establishing a point of difference through innovation and experimentation.

Design, innovation top priorities list

Dan Wilkie 15 Jul 2019

Canning Bridge an apartment hotspot

Dan Wilkie 15 Jul 2019

Great for the State – Edition 4: Indigenous Development

02 July 2019

In the fourth edition of Great for the State, we analyse the impact of Reconciliation Action Plans, report on four charities targeting Aboriginal youth development, and profile six prominent Aboriginal leaders:
- Business entrepreneur Barry McGuire

RAPs elevate words into tangible deeds

Mark Beyer 02 Jul 2019

Milroy maintains fight for Australia’s children

James Bowen 02 Jul 2019

McGuire business in the bloodline

James Bowen 02 Jul 2019

Wyatt’s old wounds still scarred

Mark Beyer 02 Jul 2019

View 8 more >>

Indigenous Business

01 July 2019

We analyse Aboriginal procurement programs run by the federal and state governments
Talk to IPS Management Consultants and the Noongar Chamber of Commerce
Provide the latest news on contracts won by indigenous businesses
Update our BNiQ lists of WA's largest indige

Indigenous business thrives on opportunity

Mark Beyer 02 Jul 2019

Contracts play practical role for community

Matt Mckenzie 01 Jul 2019

Rising Stars 2019

26 June 2019

Masters & Co leads talented cohort of fast-growing businesses

Teck Global solution powers growth

Dan Wilkie 25 Jun 2019

View 6 more >>

Defence

17 June 2019

WA businesses are positioning themselves to participate in the national shipbuilding supply chain and longer term, have a strong chance to create a sustainment hub in Perth.

Our feature highlights:

WA defence sector aims to build on contract wins

Matt Mckenzie 17 Jun 2019

Blacktree broadcasts from Belmont to Britain and places in between

Matt Mckenzie 17 Jun 2019

Matrix the one for neo-materials

Matt Mckenzie 17 Jun 2019

Local defence ecosystem grows business

Matt Mckenzie 17 Jun 2019

MiningView all

South32

Worsley set to operate at nameplate

18 Jul 2019

South32 expects to reach nameplate capacity at its Worsley alumina operation this financial year, and revealed its coking coal production rose sharply from the year prior.

Calidus Resources

Calidus PFS reveals $95m Pilbara gold project

17 Jul 2019

The pre-feasibility study of Calidus Resources’ Warrawoona gold project in the Pilbara has detailed a $95 million capital cost.

Pilbara Ports Authority

Port Hedland iron ore exports fall for FY19

17 Jul 2019

The port of Port Hedland recorded a fall in iron ore exports for the 2019 fiscal year, with its major customer BHP today disclosing a decline in its annual production

Arafura Resources

Arafura raising falls short of target

16 Jul 2019

Arafura Resources’ rights issue has only raised only around a third of its $23.2 million target, with underwriter Patersons Securities set to be issued with $7.9 million worth of shares.

Galaxy Resources

Galaxy beats guidance

16 Jul 2019

Galaxy Resources has reported strong production results in the June quarter, after it exceeded its guidance at the Mt Cattlin lithium operation despite shipment delays.

Current IssueView all

Issue for 15 July 2019 to 28 July 2019

Issue for 1 July 2019 to 14 July 2019

Issue for 17 Jun 2019 to 30 Jun 2019

Issue for 03 June 2018 to 16 June 2019

Issue for 20 May 2019 to 02 June 2019

OpinionView all

Investment in quality counts

Mark Pownall

16 Jul 2019

OPINION: Good journalism and a business model that supports it are vital for success in today’s media landscape.

New trade climate not so nice

Tim Treadgold

15 Jul 2019

OPINION: Now might be a good time for a walk down memory lane in terms of trade and business, particularly given the behaviour of some of the world’s major economies and political players.

Mark my words podcast

12 Jul 2019

PODCAST: Dan Wilkie and Matt Mckenzie discuss Manchester United, Gemmill Homes, BGC asset sales, office rents, Blue Cow Cheese, solar storage, apartment development.

Mark my words podcast

Mark Pownall

05 Jul 2019

PODCAST: Mark Pownall and Mark Beyer discuss Berrington Care Group, house prices, lithium projects cost, new retail and hospitality ventures, Minderoo plans, lotto fallout, and our special report on corporate finance.

Committee for Perth

Promoting Perth’s all-round appeal

Mark Pownall

01 Jul 2019

OPINION: The WA capital’s great natural environment has seemingly blinded its residents to the other aspects that make the city a great place to live.

RetailView all

Michael Hill underpaid staff by millions

AAP Business News

11 Jul 2019

Michael Hill International says it will spend $10 million to $25 million to compensate employees who were underpaid over a six-year period.

State seeks museum proposals

05 Jul 2019

The state government is calling for food, beverage and retail businesses to submit proposals to operate three commercial spaces in the new museum.

Woolworths

Woolworths to offload liquor and gaming

Automotive Holdings Group

03 Jul 2019

Supermarket giant Woolworths is combining its liquor and hospitality businesses ahead of a divestment next year.

Access key to online sales growth

Tim Treadgold

02 Jul 2019

The fact that online retail still comprises a relatively small part of total sales is cold comfort to bricks-and-mortar businesses.

ACCC concerned about AHG takeover

Property Council of Australia

24 Jun 2019

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

SkylineView all

Property Council cautiously backs noise reforms

Tayler Neale

20 Sep 2018

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.

BGC Australia

Hibernian Place tops UDIA awards

17 Sep 2018

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.

CBRE

Regus takes space at new Raine Square office

Peter Kermode

14 Sep 2018

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

Linc Property

Access key at Linc industrial estate

Peter Kermode

12 Sep 2018

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

Sirona Capital

The Village Margaret River on the market

Peter Kermode

05 Sep 2018

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

BlackEarth Minerals

Madagascar backs BlackEarth graphite project

18 Jul 2019

The Madagascan Government has offered to fast-track development of BlackEarth Minerals’ flagship Maniry graphite project, after a positive meeting with the country’s Minister of Mine and Strategic Resources. A German specialist industrial mineral testing outfit has also begun a program for evaluating the company’s ore concentrates for battery testing, while a Chinese institute has independently confirmed the premium quality of the project’s ores.

Vonex

Vonex exceeds 30,000 PABX users

18 Jul 2019

Vonex’s core cloud-based PABX telephony business continues to go from strength to strength with the ASX-listed telco now counting a milestone 30,000 registered active users on its books, a 25% increase in the last 12 months. The company also recorded new customer sales value of more than $1.3 million in the June 2019 quarter, which represents a 44% increase from the previous quarter.

Lithium Australia

Lithium Australia finds more lepidolite at Youanmi

17 Jul 2019

Lithium Australia has continued to intersect wide pegmatite intervals with lithium mineralisation from its first pass reverse circulation drilling program at the Youanmi project near Sandstone in WA’s Murchison region. Lepidolite mineralisation has been intersected in most holes drilled to date in the program, which will be used to assess the resource potential and geometry of the pegmatites.

Calidus Resources

Warrawoona gold PFS shows $61m a year for Calidus

17 Jul 2019

Calidus Resources’ PFS for its flagship Warrawoona gold project located near Marble Bar, WA, will churn out $61m per annum in free, pre-tax cashflows over an initial mine life of six years. Based on an AUD$1,800 per ounce gold price and production of about 100,000 ounces per year through a conventional 2Mtpa plant, the project has an estimated pre-tax NPV of $151m and an IRR of 40%, with payback in two years.

Rox Resources

Rox extends gold zones on several fronts in WA