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

Corporate Finance DealsView all

Midway invests in WA biomass

Victorian forestry company Midway has announced plans to invest up to $8 million in two Western Australian biomass companies.

Irvine takes control of Beaumonde

Perth businessman Neil Irvine has moved to full ownership of Beaumonde Catering after buying out former managing director Brian Leyden.

Navitas up 21% on $2bn takeover

Shares in Perth-based education services provider Navitas closed 21.8 per cent higher today after the company received an indicative takeover proposal from consortium that includes founder and director Rod Jones.

Lions share of Australian dairy for sale

Australian company Lion Dairy and Drinks, which owns WA dairy business Masters, is up for sale by its Japanese owners following a month-long review.

Wood & Grieve acquired by Stantec

Wood & Grieve Engineers is set to be acquired by international company Stantec, nearly 60 years after the Perth-based company was established.

Most CommentedView all

Govt unveils marina, dust plans for Port Hedland

The state government is planning to restrict new residential developments in the west end of Port Hedland while also implementing a new regulatory framework for air quality in the town, which is located adjacent to large iron ore stockpiles.

Govt backs Airbnb inquiry

The state government has backed an inquiry into short-stay accommodation providers, just days after the Australian Hotels Association called for a tightening of regulation of the sector.

Metronet to connect with urban amenity

The state government will leverage its Metronet program to drive development of urban density in Perth.

Civmec erects first steel at Henderson

Civmec has erected the first steel for its new $80 million assembly hall in Henderson today, with Prime Minister Scott Morrison in attendance for the event.

Property buyers levy coming in 2019

The McGowan government will introduce its levy on foreign buyers of residential property after the WA Greens and One Nation parties supported the plan.

Politics & the EconomyView all

WA jobless rate drops 0.4%

Full-time employment in Western Australia has hit a three-year high, as the latest data from the Australian Bureau of Statistics revealed a decline in the state’s jobless rate to 6 per cent in September.

Government intervenes in casual pay case

Unions have blasted Industrial Relations Minister Kelly O'Dwyer's decision to intervene in a potentially landmark court case about casual workers' pay and leave entitlements.

Pacific trade deal backs in businesses: PM

Australia is set to officially join a massive trade deal hailed by Prime Minister Scott Morrison as a golden businesses opportunity.

GST changes to ensure no state worse off

The prospects of a GST overhaul have been given a boost today, after the federal government said the proposed legislation would include safeguards to ensure every jurisdiction will be in a better financial position over a set period.

Julie Bishop on leadership, women and her future

Former foreign affairs minister Julie Bishop says it’s too early to speculate if she’d run for the Liberal leadership after the next election, but she believes the party needs to do more to recruit women and keep a broad base of talent, speaking at today’s Success & Leadership breakfast.

Upcoming Business News EventsView all

The Westin Ballroom - 24 October 2018

PropertyView all

Irvine writes his menu for On The Point

Mining services entrepreneur Neil Irvine has doubled down on his investment in the hospitality sector to take full control of the $40 million-plus On The Point precinct.

CBRE marketing Compass building

The A-grade office building at 12 Newcastle Street on the north eastern edge of the CBD has been offered for sale through CBRE.

WA contractor to fight union legal action

A construction contracting company in Perth has vowed to fight legal action launched by the CFMEU over the alleged underpayment of a young worker on a temporary visa.

Charter Hall buys Optima Centre in Osborne Park

Charter Hall has bought the Optima Centre office park in Osborne Park for $126.2 million and will hold the asset across two of its investment trusts.

Low-income, older renters face hurdles

Two fresh studies warn vulnerable renters are locked out by structural challenges in the market.

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

$4m partnership for National Gallery, Wesfarmers

The National Gallery of Australia and longstanding indigenous arts partner, Wesfarmers Arts, have today announced a $4 million partnership over six years.

Our man in London’s Perth calling

John Atkins is back in town to help Anglicare WA usher in a new strategic plan. He joins outgoing chief executive Ian Carter to reflect on the history and future direction of the not-for-profit group.

Chief scientist to chair Lotterywest, Healthway

The state government has today announced the appointment of chief scientist Peter Klinken as chair of both Lotterywest and Healthway, continuing the gradual integration of the two organisations.

MACA ride for cancer tops $4 million

The seventh annual MACA Ride to Conquer Cancer has raised $4.1 million, bringing the total amount raised by the event to over $31.8 million.

Moana finds form in new spaces

Artist-run initiative Moana Project Space has announced its first major exhibition since its Hay Street Studios closed last November.

EnergyView all

Govt seeking more info on waste project

Just hours after the developers of a $670 million waste-to-energy project announced they planned to start construction after obtaining all necessary approvals, the state government disclosed it has asked the Environmental Protection Authority to conduct further investigations.

$670m waste-to-energy project to proceed

Construction of Australia’s first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

Coal powers ahead amid political pressure

As the key commodity soars on healthy demand in Asia, big Australian companies may be rueing decisions to offload valuable coalmining assets in the face of intense opposition.

WA battery storage trial launched

A new battery storage trial launched by utilities Synergy and Western Power in Mandurah will allow households to store residual energy from their solar panels and use it during peak periods.

ERA approves Pilbara power line

Alinta has received regulatory approval to build a transmission line linking the Roy Hill mine to Fortescue’s Cloudbreak and Christmas Creek mines, a move that would enable the iron ore miner to continue its shift away from diesel power.

"Mark My Words" PodcastsView all

19 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss waste-to-energy development, Port Hedland property, Airbnb regulations, unemployment, tech listings, and our special report on WA's biggest exporters.

12 October 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss investment market volatility, property prices, BGC, Navitas heads three major deals in the offing, restaurant awards, Beaumonde Catering, Julie Bishop, and our special report on ICT infrastructure

05 October 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss ScoMo’s visit, Rio Tinto invests, mining contractor wins, BN30’s all time high, Scarce Skills and labour costs, shopping centre acquisitions, Chevron HQ, building approvals and our special this week on corporate finance deals.

28 September 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss the possible revival of the Oakajee port project, WA’s strong jobs market, four vanadium projects, gold miner Eastern Goldfields saved from the brink, University rankings, the outlook for residential housing, and how apartment builders are outperforming house builders.

21 September 2018

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

Food & WineView all

Xanadu wins top gong

Margaret River-based Xanadu Wines has claimed the coveted Jimmy Watson Memorial Trophy at the Royal Melbourne Wine Awards, which were held last night.

Small fish expanding the gin pool

WA gin distillers Grumpy Fish and The West Winds Gin are taking small steps in a crowded market, using local flavours and sustainable techniques to attract lovers of the spirit.

Regional restaurants beat Perth in Food Guide

Regional restaurants have received the top accolades in Western Australia, as the national Good Food Guide released its 2019 edition.

Winemaker gives up fight with Peru

A Margaret River winemaker has given up a fight with the Peruvian government, claiming the South American country has bullied him out of the use of the name Pisco.

WA wineries taste more success

Western Australian wineries have continued their recent run of success, with Howard Park’s Janice McDonald crowned the Gourmet Traveller winemaker of the year and Frankland Estate's Judi Cullam claiming the Len Evans award last night.

Special ReportsView all

Corporate finance September 2018

Corporate finance September 2018

08 October 2018

Review of September quarter deals.

Gold revival boosts deal flow
Mining, energy take IPO reins
Fashion 2018

Fashion 2018

10 September 2018

Local fashion players look at overseas markets.

Designers plan global  assault
Jessica Gomes grows to Asia

MiningView all

QEM in $5m IPO

Vanadium-focused QEM, which features experienced mining executive Daniel Harris on its board, began trading on the ASX today after completing a $5 million initial public offering.

Thunderbird capex rises to $463m

Mineral sands aspirant Sheffield Resources has attributed a $115 million capital cost increase at its Thunderbird project to changes in the scope of work and the infrastructure ownership model.

Directors share turnaround insights

Cheryl Edwardes and Rick Crabb know better than most what it takes to steer a troubled business through a ‘near-death’ experience.

Sproule calls for Kin board spill

A group of dissident shareholders led by former director David Sproule are seeking a board spill at gold-aspirant Kin Mining, including the removal of new chief executive Andrew Munckton.

Alkane invests $3.7m in Calidus

Burswood-based Alkane Resources has invested $3.7 million in gold explorer Calidus Resources, with the proceeds to fund completion of a pre-feasiblity study at the Warrawoona project in the Pilbara.

OpinionView all

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss waste-to-energy development, Port Hedland property, Airbnb regulations, unemployment, tech listings, and our special report on WA's biggest exporters.

TAB sale odds on in tough market

Opinion: The long-awaited sale of the government’s betting agency could still come at a big cost to taxpayers.

Foreign investors hit too much, too late

Opinion: The WA government has got the timing and scale wrong with its move to introduce a 7 per cent surcharge on foreign property buyers.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss investment market volatility, property prices, BGC, Navitas heads three major deals in the offing, restaurant awards, Beaumonde Catering, Julie Bishop, and our special report on ICT infrastructure

Happiness is your decision

Opinion: Stop blaming your run of outs on others; how you respond to challenges is entirely up to you.

RetailView all

Roger David menswear closing down

Roger David, which operates eight stores across Perth, is closing down after 76 years of business, with the menswear retailer collapsing in the face of competition from international and online rivals.

Coles spin-off chief to head Officeworks

Wesfarmers has appointed a new managing director to run office supplies business Officeworks, with Sarah Hunter from Coles stepping into the role.

Retail reward for Quick Flick

A retail deal with Priceline Pharmacy is the latest win for local makeup business The Quick Flick, which was launched last year by Perth university student turned entrepreneur Iris Smit.

SCA in $270m Perth shopping spree

Sydney-based SCA Property Group has purchased four Perth shopping centres for a combined $269.4 million as part of a larger deal with ASX-listed Vicinity Centres.

DVG owner expands to east coast

Three years after taking a majority stake in Perth company DVG Automotive Group, Japanese outfit IDOM has made its first move into the east coast car market, purchasing Melbourne-based Andrews & Wallis Motor Group.

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

Strike kicks into high gear at Jaws-1

ASX listed Strike Energy has started the much-anticipated gas production phase at its Jaws-1 project wells in SA’s Cooper Basin with operations now set up for continuous gas release. Water production rates have been maintained at between 750 and 800 barrels of water per day while gas release has continued to build in both the horizontal and vertical well bores.

St George extends nickel/copper sulphides near Leonora

St George Mining has outlined an extension to its high grade massive nickel/copper sulphide mineralisation at the Investigators East prospect near Leonora, with a new drilling result of 3.55m @ 4.67% nickel, 2.27% copper, 0.2% cobalt and 2.94g/t combined platinum group elements from 116m down-hole. The intersection has extended mineralisation down-plunge and is several hundred metres east of recent results within a defined 1.5km east-west trending mineralised corridor.

Volt locks in key Tanzanian mining licences

Volt Resources is now free to progress its proposed Stage 1 and Stage 2 developments at the Bunyu graphite project after it was granted two mining licences by Tanzania’s Ministry of Minerals. The company will now focus on completing its proposed USD$40m bond issue on Tanzania’s Dar es Salaam Stock Exchange. Once this is completed, the company will start front end engineering work for the initial Stage 1 operations and order long lead time components.

Spectacular result extends mineralisation for Adriatic

Adriatic Metals has reported another wide, high grade base metal, gold and silver intersections from its emerging Rupice multi-mineral ore system in central Bosnia. The new drilling result of 66m grading 9.5% zinc, 4.9% lead, 187g/t silver, 2.4g/t gold, 0.5% copper and 56% barite from 204m down-hole extends mineralisation by a further 35m at the northern end of the deposit, adding more tonnes adjacent to the concession boundary.

Artemis signs processing deal with Pacton Gold

Artemis Resources’ wholly-owned Radio Hill processing plant in the west Pilbara region of WA has drawn Eric Sprott-backed Canadian explorer Pacton Gold to sign a MoU for a potential processing deal. Pacton is currently identifying conglomerate gold opportunities on its tenements for bulk sampling and production. Radio Hill has approved throughput capacity of 500,000 tonnes per annum of gold ore.

Most viewed people

Arief Sidarto

Arief Sidarto

Non-Executive Director, Macmahon Holdings

Brett Lawrence

Brett Lawrence

Managing Director, Verus Investments
Non-Executive Director, Tamaska Oil &
Gas
Non-Executive Director, Acacia Coal

Gary Greenbaum

Gary Greenbaum

Co-Founder, Chief Executive Officer, Syntonic

Andrew Teo

Andrew Teo

Non-Executive Chair (since 2015)
Interim CEO (June 2018)
(Executive Chair 2013-2015), Medusa Mining
Non-Executive Director, Company Secretary, BGC Australia
Non-Executive Director, BGC Contracting

Rory Vassallo

Rory Vassallo

Owner, Vassallo Corporation

Thought LeadershipView all

Big business in an ever-smaller world: the future of exports

The term “big business” can mean a range of things in an increasingly connected global economy, with some local players taking a place amongst the multi-nationals on the international stage.

NEXTDC helping WA customers de-risk their business and futureproof their IT

Five years ago, prior to joining NEXTDC, I met with the company’s CEO, Craig Scroggie whilst he was in Perth. Given NEXTDC had no data centre in Perth, I asked him what brought him to town. We spent hours discussing his elaborate vision for the data centre industry and how he would like to build business for NEXTDC here in Perth and across Australia.

Breast Cancer Research Centre-WA – Reshaping the future of breast cancer treatment

There’s a lot of talk in the media about breast cancer with many charities devoted to its causes and treatment.

Are your many hats costing you over $100,000 per annum?

Business owners today realise how dependent they are on the talent and motivation of their employees to help their business grow and succeed.

Driving tourism dollars to your destination

It’s been more than 20 years since Bill Gates declared “content is king”, and much has changed in the social and global market since then.