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

Corporate Finance DealsView all

Coles demerger set for November completion

Wesfarmers has announced it anticipates the demerger of Coles to be completed by the end of November, after the company’s annual general meeting, and will seek to retain a 15 per cent stake of the business.

Somers & Partners links with Mejority Capital

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

InvoCare in SW funeral buy

Listed funeral company InvoCare has continued to expand its market share in Western Australia, after purchasing South West business Archer & Sons Funeral Homes.

Tap rejects $30m Risco bid

Tap Oil has urged shareholders to reject a $29.8 million takeover bid from major shareholder Risco Energy Investments, after independent expert BDO valued the company well above the offer price.

Sandfire buys into Alaska project

Sandfire Resources has entered into a strategic relationship with Victoria-based White Rock Minerals, which includes a $2.5 million equity investment and an option to earn-in to the junior explorer’s Red Mountain zinc project in Alaska.

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Iconic Scarborough gets the go ahead

Following the rejection of an initial proposal late last year, the Metropolitan Redevelopment Authority has given 3 Oceans Property the green light to progress its twin-tower mixed-use development on the corner of West Coast Highway and Scarborough Beach Road.

SAT sides with Como Hotel developer

Woolworths subsidiary ALH Group has had a win in the State Administrative Tribunal this week over its plans to develop a Dan Murphy's liquor store as part of its Como Hotel redevelopment, following a multi-year saga involving liquor licensing and the City of South Perth.

Fini adds to Freo sustainability

Several alternative approaches to tackling housing affordability are taking shape across Fremantle, with social enterprise Nightingale Housing one step closer to actualising its Wood Street project with its recent launch of presales.

Tax changes key to investment flow

Lower company tax rates and changes to power pricing are among possible moves that would support the state’s economic development, according to local academic Peter Hartley.

Perth surf park a step closer to $28m takeoff

A private Perth company led by former oil and gas executive Andrew Ross is close to realising its vision of building artificial wave parks across Australia.

Politics & the EconomyView all

O'Neill to lead Public Sector Commission

The state government’s education boss, Sharyn O'Neill, has been appointed as the first ever female Public Sector Commissioner in Western Australia.

WA unemployment falls to 6.1%

After reaching a 16-year high in March, Western Australia’s unemployment rate has enjoyed its third straight month of decline, with nearly 3,000 jobs added across the state in June.

Forethought needed for lithium boom dreams

Lithium advocates have been cautioned to separate facts from hype as it is not yet clear if battery manufacturing in Western Australia will be practical, although refining plans should proceed immediately, according to Mckinsey & Co partner Prabhav Sharma.

Tax changes key to investment flow

Lower company tax rates and changes to power pricing are among possible moves that would support the state’s economic development, according to local academic Peter Hartley.

State govt defends Huawei contract

The state government says there was no conflict of interest with the recent awarding of a $205 million contract to Huawei, after it was revealed the Chinese group paid for flights and phones for two cabinet members during a trip to China in 2015.

Upcoming Business News EventsView all

Grand Ballroom, Hyatt Regency Perth - 25 July 2018

PropertyView all

Finbar lifts profit guidance

Apartment developer Finbar Group has lifted its net profit expectations for the 2018 financial year as a result of what it says are improved market conditions and project settlements.

Optus Stadium tops industry awards

Optus Stadium’s awards winning streak continued over the weekend when it was acknowledged in different categories at two events held in Perth.

Big raps on micro-house

Local architect Kate Fitzgerald is winning converts to her plans for sustainability driven micro-lot house design.

SAT sides with Como Hotel developer

Woolworths subsidiary ALH Group has had a win in the State Administrative Tribunal this week over its plans to develop a Dan Murphy's liquor store as part of its Como Hotel redevelopment, following a multi-year saga involving liquor licensing and the City of South Perth.

Subbies row escalates to ABCC

A war of words between two local construction groups has intensified, after Subcontractors WA referred accusations of intimidation by Master Builders WA to the Australian Building and Construction Commission.

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

Canning keeps the culture coming

The opening of a new heritage-listed live entertainment space in Northbridge later this year is the latest example of Marcus Canning’s cultural impact on WA.

Getting creative on firm funds footing

The financial performance of WA’s major arts organisations has fluctuated widely over the past year, research by Business News has found.

Howard Park finds natural fit

Howard Park Wines has signed up as a new sponsor for the West Australian Ballet’s upcoming season of Tchaikovsky and The Nutcracker, with the winery having deep roots in the art form.

Christie creates Perth’s next gallery

Respected South African-born artist and gallery owner Catherine Christie is on the cusp of launching a new gallery in Perth since moving to Western Australia five years ago.

Grants given to boost waste management

The state government has distributed about $1 million in grants among sixteen environmental organisations as it aims at boosts recycling and improve waste management practices in Western Australia.

EnergyView all

Carnarvon jumps after staggering oil find

Shares in Carnarvon Petroleum were up 57 per cent today after the company revealed its joint venture partner Quadrant Energy had made an oil discovery described as staggering.

Gorgon leads way as LNG exports pass $30bn

A doubling of production at Chevron’s Gorgon LNG plant has helped boost national exports of the fuel 38 per cent to $30.8 billion in the year to June 2018, according to consultancy Energy Quest.

Battery trend broadens to business

An avocado farm near Pemberton, deep in the state’s South West, may not be the obvious location for an award-winning energy technology application.

Trump tweet pushes oil price down

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude.

Pacific flags $15m impairments

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

"Mark My Words" PodcastsView all

20 July 2018

PODCAST: Mark Beyer and Mark Pownall discuss positive signs in the property market, new mining and gas projects, a 'staggering' oil discovery, and our annual review of WA's arts companies.

13 July 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

06 July 2018

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

29 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss defence contracts, Scarborough high rise, Landgate and TAB privatisation, Atlas Iron, 2018's RIsing Stars, and our special report on Indigenous business.

22 June 2018

PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.

Food & WineView all

Dominion League sold to Bajaj

Northbridge whisky bar The Dominion League has been sold and will close its doors next month, with the buyer believed to be Perth music promoter Saran Bajaj.

Ku De Ta failure dents the Point

The $50 million On the Point hospitality precinct in East Perth has suffered a major setback after its anchor tenant was placed in administration but other restaurants and bars at the riverfront property are set to continue trading.

Gamble bets on rural NSW venture

Restaurateur Kim Gamble is enjoying the country life in NSW after 30 years of running cafes and bars in Perth.

Chocolate cafe into liquidation

The Perth-based Guylian Belgian Chocolate Cafe franchise has been placed into liquidation, just over a year after the business opened on St Georges Terrace.

Vic Park bar voted best in Australia

Victoria Park bar the Dutch Trading Co has been named the best beer venue in the country, as judged by a panel of 23 industry leaders coordinated by Beer and Brewer Magazine.

Special ReportsView all

Corporate finance June 2018

Corporate finance June 2018

16 July 2018

Six-page analysis of the top advisers

Sternship making its mark
New corporate advisory players lift market share
Growth in alternative financing
Total shareholder returns 2018

Total shareholder returns 2018

09 July 2018

Resources returns lead rebound
Strong returns for AusCann investors
Indigenous Business 2018

Indigenous Business 2018

02 July 2018

Contractors refine their growth strategies

Indigenous contractors deliver through diversity
Infrastructure contractors

Infrastructure contractors

18 June 2018

Transport, energy projects create opportunities

Labour challenge looms as work ebbs and flows
State still sorting contracts
From Bibra Lake to the Big Apple
Contractors switch on for next generation of power

MiningView all

Finlayson sells $12m Saracen stake

Saracen Mineral Holdings managing director Raleigh Finlayson has received about $12 million after selling more than half his stake in the gold mining company.

Western Areas kicks off Odysseus

Nickel miner Western Areas has begun early works at its Odysseus project, signing on local contractor MACA, while also announcing it had reached its production guidance for the year to June.

Dennis set to lead Poseidon

Poseidon Nickel has appointed company director Robert Dennis as its new chief executive, with the former Independence Group executive set to take over the role next month.

Egan Street upbeat on gold project

Gold-focused Egan Street Resources says it will cost $36.1 million to bring its Rothsay project in the Murchison region into production.

Silver Lake hits gold target

Gold miner Silver Lake Resources has posted above-guidance sales for the year to June, while Red 5 says it is on track to meet its production forecast for the 2018 calendar year.

OpinionView all

Optimism as markets move

There may be some positive news for two beleaguered WA mining projects.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss positive signs in the property market, new mining and gas projects, a 'staggering' oil discovery, and our annual review of WA's arts companies.

Know-alls tend to come up empty

Take the wrong attitude into a sales meeting and your prospect will more than likely walk out in search of a better deal.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

GST spending pressure

Opinion: The McGowan government would be advised to avoid the irresponsible spending blowout of their predecessors, however tough the political sell.

RetailView all

Woolies wants fuel IPO despite Caltex deal

Woolworths still wants to exit the petrol business despite having inked a 15-year fuel supply deal with Caltex Australia.

KFC expansion swells Collins Foods profit

Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.

Metcash shares lift despite $150m FY loss

Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.

Kambo's into administration

Customers of local whitegoods and home appliance retailers Kambo’s and Liebe + Haus have been told they will need to wait several days before finding out if their credit purchases are still valid after the two jointly-owned businesses were placed into administration on Friday.

Wesfarmers leadership changes

Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.

Most viewed people

Nicole Adshead-Bell

Nicole Adshead-Bell

CEO &
MD (since July 2018)
(Non-Executive Director 2016-2018), Beadell Resources

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

Alexandra Atkins

Alexandra Atkins

Non-Executive Director, Ausdrill

Georgia Bolden Strestik

Georgia Bolden Strestik

Former Chairman, Treetops Montessori and International Baccalaureate School

Denby Roberts

Denby Roberts

Director, DR Capital

Thought LeadershipView all

Breaking into the global marketplace

With the rise of globalisation comes the increasing demand for businesses to expand into international markets in order to stay competitive. This can create significant opportunities for organisations of all sizes, however it can also pose a great risk if approached in the wrong way.

Helping people with no choices

Imagine what you would do if you found yourself homeless, if you lost your job and couldn’t pay your bills, if you couldn’t provide a meal for yourself or your family, if you didn’t have a safe and se

How the GDPR affects you, even if you think it doesn’t

You’ve probably heard about the GDPR, but have you taken action in time for the 25 May enforcement date? Here’s my quickstart guide to compliance for Australian businesses.

If you don’t test your DR strategy how can your organisation be IT Resilient?

I.T. has come a long way since the days of merely providing a computer, mouse, and keyboard to its employees. Technology is now fundamental to the operation of any business.

Help – It’s performance review time!

My fellow graduates and I feel unsure about how well we will fit into a new workplace, and how other employees and management will treat us.