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

Corporate Finance DealsView all

Saracen makes $38m takeover bid for Bligh

Saracen Mineral Holdings has made an all-scrip takeover offer for Fremantle-based gold explorer Bligh Resources, as it seeks to increase the resource for its Thunderbox operations.

Tasman shares surge on Fortescue deal

Fortescue Metals Group has signed a conditional farm-in and joint venture agreement with Perth-based Tasman Resources for an exploration project in South Australia.

Borrello bought by national law firm

Thomson Geer has become the latest in a string of east coast law firms to enter the Western Australian market, acquiring LSV Borrello 10 years after the local firm was established.

Aust Mines to raise up to $10m

Australian Mines has launched an underwritten share purchase plan, with the funds raised to advance its Sconi project.

All-time high for Wesfarmers shares amid $230m purchase

Wesfarmers shares have hit an all-time high on the same day it announced the $230 million acquisition of online retailer Catch Group.

Politics & the EconomyView all

Cracks emerge in state pay policy

The public sector union is claiming it has broken the state’s wages policy on the back of a new enterprise agreement offer that includes a range of new entitlements such as an extra holiday, superannuation during unpaid parental leave, and cultural leave for Aboriginal employees.

Changes to WA’s minimum wage leave few satisfied

WA’s Industrial Relations Commission (WAIRC) this morning announced a 2.75 per cent increase to the state minimum wage, provoking criticisms from unions and business groups.

WA's unemployment rate rises again

Western Australia was the only state in the country to record both a decrease in employment numbers and an increase in its seasonally adjusted unemployment rate for May.

Restoring confidence key

OPINION: In WA and on the national stage, the men in charge of the purse strings face challenges of control and confidence.

Liza Harvey new Libs leader

Liza Harvey has been elected unopposed as leader of the Parliamentary Liberal Party in WA with Bill Marmion chosen as her deputy.

PropertyView all

ASIC cancels Macro broker’s licence

The Australian Securities and Investments Commission has cancelled the credit licence of mortgage broker Rochelle Anne Weinert, who was involved with the ill-fated Macro Group.

Jaxon to build $21m Claremont apartments

Celsius Property Group has signed construction contractor Jaxon to build the latest apartment project at Claremont Oval, a $21 million, 40-dwelling luxury development.

Entertainment offerings breathe new life into Old Synagogue

Opening four venues in a heritage building in Fremantle is the latest venture from the team responsible for taking Oktoberfest national.

University signs global partner for Greater Curtin

Curtin University has secured a development partner for $300 million worth of works at its Bentley campus, which will include 1,000 new student accommodation beds, a 60-room boutique hotel and 3,000 square metres of commercial space.

New unit to help subbies

The state government has taken a first step to protect subcontractors by introducing a bill to establish a specialist investigations unit within the Small Business Development Commission.

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

Stark choices on arts funds, young ones’ skills

Arts funding was on the menu at a business breakfast co-sponsored by Business News and Screenwest this week, with panelist Ben Elton advocating development of a film studio in Perth to boost the sector.

Perth embraces festival season

Fringe World and Perth Festival may offer audiences a different range of artistic experiences, but both achieved strong growth in ticket and box office sales this year, according to recent reports.

Rio, FMG support indigenous children initiatives

Rio Tinto has backed a STEM initative in the Pilbara, while Fortescue Metals Group has thrown its support behind Ricky Grace's Girls Academy.

Box office booms at Fringe World

Box office sales at this year's Fringe World Festival were up by 15 per cent on 2018 figures, while 13 per cent more people attended ticketed events, according to a report released last night.

Hands up for volunteers

Corporate volunteering has the potential to benefit all parties involved, but making sure it is worthwhile takes careful planning.

EnergyView all

Tempo optimistic of solar cost blowout solution

Tempo Australia has emerged from a one-and-a-half month trading halt to announce it has agreed terms in-principle with Enel Energy that will potentially prevent a cost blowout at a major solar contract.

Chalkley, Barrie to Power board

Western Power chief executive Guy Chalkley has been appointed to the network operator’s board, while Kathryn Barrie will wear two hats as a director of the business and continuing in a senior role at the Public Utilities Office.

EPA to start consulting on greenhouse policy

The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.

Strike joins Northern Minerals as R&D tax losers

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

WA’s gas advantage becomes big opportunity

Andrew Forrest has pounced on a potential play to supply WA gas to an east coast industrial market pounded by high prices.

Food & WineView all

Small-scale brewing’s next frontier

One of WA’s most experienced hospitality professionals is helping lower the barriers to enter the craft beer industry.

Cranking up the beer creativity

WA’s contemporary brewers are building on the foundations laid by modern institutions such as Little Creatures and Feral Brewing Company.

Fogarty lifts wine dominance

Western Australia’s largest wine producer has increased its dominance of the sector in a year when many producers were affected by extreme weather events.

Drinks giants to run recycling scheme

The state government has selected a newly formed company owned by drink manufacturers Coca-Cola Amatil and Lion to run the state’s container deposit scheme.

Dinner Twist turns to clean, green

Competition has enabled 2015 Rising Stars winner Dinner Twist to define its niche in the meal kit industry.

Special ReportsView all

Great for the State - Edition 3: Health & Wellbeing

Great for the State - Edition 3: Health & Wellbeing

04 June 2019

Our Health and Wellness edition highlights how Western Australia is evolving into a world-leading jurisdiction in medical research, pushing the boundaries of science and innovation in a quest for better health.
 

Medical marvels delivering outcomes
Investments in medical tech to pay healthy dividends
Healthway, Lotterywest lead drive for better health
West best for mass fundraising fun
Mining projects 2019

Mining projects 2019

20 May 2019

High-level iron ore, lithium and gold projects set pace for more than 50 developments in fresh commodities boom. WA finds itself in the centre of a new, agribusiness-driven, mining race.

$21bn pours into WA’s top 10 mining projects
Iron ore juniors back in game
Potash players primed for slice of growing market
Universities 2019

Universities 2019

13 May 2019

Widespread government reviews are causing a headache for Western Australia’s major universities, but higher promotional funding and a lift in the state’s share of new international students are encouraging signs.

Unis battle funding cuts, government uncertainty
WA poised for more international students
Construction 2019

Construction 2019

02 May 2019

Our annual Construction review looks at how building companies are coping with the sector’s sharp downturn. We rank the top construction companies and analyse the ‘security of payment’ issue.

Contractors position for market rebound
Sharper focus on shielding subbies
Perth's largest construction jobs

MiningView all

Symbol crashes into administration

Symbol Mining has gone into administration, less than three months after the Subiaco junior tapped the market for nearly $2.2 million.

Adani mine granted approval

Adani has declared it's full steam ahead for its controversial coal mine after the Queensland government issued the final approval the company needs to begin construction.

Five big WA gold mines at risk of closure: analyst

Market research firm IBISWorld has identified five large gold mines in Western Australia set to shut down by 2025 because of low reserves, less than a month after a prominent gold mining consultancy rejected reports that Australian gold production is set to fall substantially.

Macmahon to renegotiate Telfer contract

Macmahon Holdings has flagged the possibility of a $25 million to $35 million provision against its contract at the Telfer gold project amid ongoing negotiations with the project’s owner Newcrest Mining.

Emeco flags significant earnings rise

Emeco Holdings expects its earnings for this financial year to rise by nearly 40 per cent compared with the prior corresponding period.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Liberal leadership change, State of the Arts, agricultural outlook, Patersons sellout, Curtin's expansion, gold challenges, Western Australians honoured, and our special report on defence.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss house prices, economic growth data, interest rates, WA’s credit rating, gold miners, arts festivals, cryptocurrencies and craft breweries.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss indigenous business and reconciliation week, David Singleton, Simonds Group and residential construction, generational change at listed Perth companies, Black Swan, and our special report on the wine industry plus our Great for the State feature on health and well being.

Property stress test pressure point

OPINION: The economic pressure simmering away below the surface in many households was a key factor in the surprise federal election outcome.

WA plays it down the middle

OPINION: Federal Labor failed to capitalise on any remaining goodwill WA voters had for the party after Mark McGowan’s 2017 success.

RetailView all

Target sales sag further for Wesfarmers

Wesfarmers says full-year earnings from its department stores could fall by as much as $103 million after sales at the struggling Target chain fell by 2.3 per cent so far in the second half.

Transit Clothing to close its doors

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.

Lotterywest lifts retailer commissions

The 500 retail businesses that earned $63 million selling Lotterywest products last year can look forward to higher incomes after the state government agreed to increase their gross commission.

Wesfarmers taps Warburton

Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

German giants will bring fresh competition to retail

Two new German supermarket businesses covering the top and bottom ends of the market are expected in Australia next year.

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

EU initiative for lithium projects boosts Infinity

Infinity Lithium’s San José project in Spain could benefit from the EU’s recent recognition that access to raw materials has become essential for ensuring the supply of lithium chemicals for its automotive industry. The European Commission has identified 10 potential mining projects that could allow the EU to produce 30% of the world’s lithium by 2030 and flagged that more investment in this sector is likely.

Respected corporate accountant to bolster Alterra board

Alterra has strengthened its board as it continues to build agricultural business opportunities with the appointment of experienced corporate accountant John Palermo as a non-executive director. His background in corporate transaction execution, strategic business management and business structuring is expected to assist Alterra with its strategy of building capacity and pursuing its growth plans.

AVZ enters alliance with Chinese cobalt manufacturer

AVZ Minerals has formed a strategic relationship with Chinese cobalt manufacturer Zhejiang Huayou Cobalt to advance the DFS for its giant Manono lithium-tin project in the Democratic Republic of the Congo. Besides lending AVZ its experience in the DRC and mainland China, Huayou will also prove the company with advice and assistance in other areas such as project financing and offtake financing.

Eureka moment for Venus/Rox at WA gold play

JV partners Venus Metals and Rox Resources have discovered high-grade intersections from their maiden drilling program at the Currans Find JV gold project, located near Youanmi, WA. At Currans Find North, spectacular new intercepts of potentially shoot-controlled and shallow quartz veining included 6m @ 9.82g/t gold from 36m down-hole and 4m @ 5.72g/t gold from 60m down-hole in separate drill holes.

MGC cranks up medical cannabis orders

MGC Pharmaceuticals has received a 50% increase in medical cannabis product orders from Australian distributors Health House International and Cannvalate due to both repeat and new prescriptions. The company also expects to conclude the Phase II clinical trial for its CogniCann medical cannabis treatment for dementia and Alzheimer’s patients about 12 months ahead of schedule thanks to the high level of interest.

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Peter Moltoni

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Thought LeadershipView all

When sweaty palms and heart palpitations are not a good thing

There has been a shift over the years in the way the performance appraisal is conducted, particularly in the frequency of discussions, leading to a more meaningful experience for both manager and empl

Increased connectivity and digital identities at the forefront of Cisco innovation

Cisco continues to forge ahead with innovation surrounding technology and the internet by sharing its extensive knowledge on connectivity, digital identity and cyber security.

Help! My employee wants a raise.

Typically associated with sweaty palms and a general feeling of discomfort, it’s likely that at some point you’ve dealt with the pay increase question, either as the employee...or the manager.

Shire launches video to support advocacy efforts

The Shire of Serpentine Jarrahdale launched its advocacy video at an event with key stakeholders at Quarry Farm on Tuesday, 16 April.

New opportunity on offer at emerging Murdoch health and knowledge hub

A world-class centre of excellence for health, education and research is beginning to take shape in Perth’s growing southern corridor – and a new release at LandCorp’s Murdoch Health and Knowledge Pre