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

Corporate Finance DealsView all

Healthscope again targeted with $4.1bn bid

Private equity firm BGH Capital and AustralianSuper have returned with another $4.11 billion bid for Healthscope, five months after the private hospitals operator rejected their takeover attempt.

IMF plans $85m raising

Litigation funder IMF Bentham has announced plans to raise up to $84.5 million to establish two new funds and pursue growth opportunities in Europe and Asia.

Infratil weighs-up Perth Energy sale

New Zealand-based investment group Infratil is considering selling its majority stake in local electricity provider Perth Energy, which recently returned to profit after running at a loss for the past three years.

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.

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.

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.

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.

Politics & the EconomyView all

Pathway to prosperity requires focus on strengths

Perth does not need to over emphasise economic diversification to revitalise the local economy, but rather embrace its competitive advantages, according to a report released by the Committee for Perth today.

EPA given $3.3m boost

The Environmental Protection Authority will receive a $3.3 million funding boost to deal with a recent spike in proposals in Western Australia, with the government also announcing plans for a scheme to allow the outsourcing of some assessments.

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.

Upcoming Business News EventsView all

PropertyView all

Property deals wrap

In the latest property deals wrap, Woolworths makes a $27 million sale, while Sirona Capital spin-off Harvis Corp and US private equity firm Black Mountain Metals have leased office space in the Perth CBD.

Buyers track value in Perth office market

The Perth office market offers good value to buyers looking to hold for the longer term, according to research from CBRE.

Labor property tax policies to damage WA housing: MBA

Federal Labor’s proposed changes to negative gearing and capital gains tax would hit Western Australia’s residential building sector at a time it is already reeling, according to economic modelling commissioned by Master Builders Association.

Owner-occupiers step into apartments

This now-mobile group is a key driver in Perth’s reviving apartments market, making up 65 per cent of buyers.

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.

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

Kidogo creates art buyers through experience

Kidogo Arthouse has held prime position on Fremantle’s Bathers Beach for the past 20 years, and is serving as a base for artists and businesses to collaborate in the port city.

Mixed fortunes for charity events

The Channel 7 Telethon Trust achieved another fundraising record over the weekend, raising $38 million for medical research, but its success has not been shared across the charity sector, with Variety WA’s Carols by Candlelight the latest of several events to be cancelled due to a lack of financial support.

$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.

EnergyView all

RAC invests in $15m EV chargers

The Royal Automobile Club of WA has invested in Sydney-based Chargefox’s $15 million rollout of electric vehicle charging stations across Australia, which includes two in Perth.

Woodside, ENN pursuing options

Woodside Petroleum has signed a cooperation agreement with Chinese gas company ENN, while it is continuing work on the Scarborough, Browse and Pluto projects.

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.

"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

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss government contractor failures, house prices, population growth, LNG revival, Austal, performance share winners, and our special report on tourism.

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

Biggest Exporters 2018

Biggest Exporters 2018

22 October 2018

Rio Tinto leads our updated rankings

Exports jump as outlook improves
Mid-tier miners iron out positions
Agribusiness chews on challenges
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

MiningView all

Zenith to add solar to Nova power station

Zenith Energy will incorporate a solar facility in its existing diesel power station at Independence Group’s Nova operation in the Fraser Range, taking capacity to 26 megawatts.

Talison nears deal on legal dispute

Talison Lithium and Global Advanced Metals have reached an in-principle settlement deal in their legal dispute over expansion plans for the Greenbushes mine.

Palmer, Citic in legal stoush

Clive Palmer has launched legal action against CITIC over environmental rehabilitation funds for the massive Sino Iron project in WA, just days after his estranged Chinese joint venture partner started separate litigation.

Mid-tier miners iron out positions

SPECIAL REPORT: Acquisitions and pricing discounts are shaking up the rankings of WA’s main iron ore exporters.

Exports jump as outlook improves

SPECIAL REPORT: Gold Corporation, Alcoa, Roy Hill and Chevron have all posted higher revenue numbers in Business News’ annual analysis of WA’s biggest exporters.

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

Infinity lists on Frankfurt, Stuttgart stock exchanges

Infinity Lithium’s listing on the Frankfurt and Stuttgart stock exchanges will increase its exposure to European investors ahead of its upcoming feasibility study for a fully integrated mining operation and lithium carbonate processing facility at its San Jose project in western Spain. The company has also appointed lithium industry expert Vincent Ledoux-Pedailles to lead its European corporate strategy.

Strike raises $13m for West Erregulla drilling

Strike Energy is now fully funded to drill the West Erregulla-2 well in the Perth Basin and complete pilot production activities for the Jaws-1 deep coal seam gas wells after raising $13m through a share placement. The share placement also fulfils the capital raising requirement for the recommended takeover offer for UIL Energy, which will increase Strike’s exposure to the Perth Basin.

Vonex signs up new channel partners to drive growth

ASX listed upstart telco Vonex has signed on 12 new channel partners in the first quarter of the 2019 financial year as part of its ongoing efforts to accelerate business growth. The company has already signed up 6 new partners in the current quarter and is well on track to secure at least 100 new channel partners in the current financial year.

88 Energy upgrades North Slope oil potential

Recently processed 3D seismic data has led 88 Energy to increase its gross mean prospective resource at the Project Icewine in Alaska’s North Slope by almost 1.15 billion barrels to 2.89 billion barrels of oil. It has also allowed the company to predict where the best reservoir quality is likely to be in both the Schrader and deeper Torok sequences. The company still expects to farm-out the conventional acreage before the end of 2018.

Calidus formalises conglomerate gold deal with Pacton

Calidus Resources has executed a definitive agreement with TSX-V listed Pacton Gold Inc, to vend its non-core conglomerate gold rights at the Warrawoona gold project for 7 million Pacton shares. Calidus will retain all other gold rights to the ground. The deal covers 8 exploration licences and allows Pacton to explore and mine for conglomerate gold, with liability for rehabilitation and environmental obligations, whilst Calidus retains title to the tenements.

Most viewed people

Arief Sidarto

Arief Sidarto

Non-Executive Director, Macmahon Holdings

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Paul Matysek

Non-Executive Chairman, First Cobalt

Christine Simpson Stokes

Christine Simpson Stokes

Trustee, Channel 7 Telethon Trust
Non-Executive Director, Australia Council for the Arts

Denby Roberts

Denby Roberts

Director, DR Capital

John Poynton

John Poynton

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
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Thought LeadershipView all

New gaming and networking facility prepares students for the workplace of tomorrow

Technology has changed the way we live and work so much that it’s heralded a new era.

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.