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

Corporate Finance DealsView all

Roto raises $3.6m

Hydroponics technology company Roto-Gro International has completed a $3.6 million share placement, with the funds set to fast-track expansion of its research and development facility in Canada.

DDH1 acquires Ranger Drilling

DDH1 Driling has acquired Ranger Drilling, which will see the Sy van Dyk-led company grow to 700 employees and 84 drill rigs.

GO2 plans $8.4m acquisition

The GO2 People has entered into a share purchase agreement to acquire a Gold Coast-based training provider for up to around $8.4 million, and is seeking to raise up $4 million via a share placement to help fund the purchase.

Apollo raises $6m

Apollo Consolidated has raised $6 million via a share placement, with the funds set to primarily go towards drilling at the company’s flagship Lake Rebecca gold project.

AHG says sit tight on AP Eagers offer

Automotive Holdings Group has urged shareholders to sit tight on a $2.42 billion takeover offer from rival vehicle retailer AP Eagers, warning they may be disadvantaged if they agree to sell before the “highly conditional” deal is approved.

Politics & the EconomyView all

Oil rises amid caution to offset sanctions

Oil prices have hit their highest in about six months as sources said Gulf OPEC members were ready to raise output only if there was demand before offsetting any shortfall following a US decision to end waivers for buyers of Iranian crude.

Gold hits four-month low on USD, stocks

Gold has slipped to a near four-month low as the US dollar gained and investors sought out riskier assets, dampening the safe-haven metal's appeal.

Friend or threat – looking at the heart of Huawei

Debate around the selection of Huawei to roll out the communications network for Metronet is just an example close to home of how the western world is grappling with the rise of the Chinese company as a technology powerhouse.

South Korea next for trade pact

South Korea should join Australia and 10 other nations in the second generation Trans-Pacific Partnership, according to Perth USAsia Centre chief executive Gordon Flake.

Oil up as US takes aim at Iran exports

Crude oil jumped almost three per cent Monday after the United States said it would take more steps to choke off Iranian oil exports, while US equities were mixed as Wall Street braced for corporate results in a busy earnings week.

Upcoming Business News EventsView all

Hyatt Regency Ballroom - 30 May 2019

PropertyView all

Serneke brings Swedish build to Freo

A Swedish construction giant will focus on the health and wellbeing of future residents as it rolls out its first development in WA.

Apartment owners upbeat on values

Western Australian apartment investors are overwhelmingly confident of capital growth over the medium to long term, according to fresh research.

3 Oceans scraps Scarborough project, seeking JV

Developer 3 Oceans Property is looking for joint venture partners for a redesigned Iconic Scarborough project, after it announced the $450 million project is officially on hold due to the current market making the development financially unviable.

WA building hotspots dominated by outer suburbs

Perth City was the only inner city area to be classed as a building hotspot in Western Australia, with most building approvals occurring in the outer suburbs, according to a Housing Industry Association report.

Liquidators appointed to Handle Property Group

The developer behind the Red Castle and Bottleyard apartments complexes has been forced into liquidation, the latest victim of difficult conditions in Western Australian property.

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

Harmanis has mindful plan to help

Philanthropist and former mining entrepreneur Kerry Harmanis has narrowed the focus of his donations in recent years, and now primarily funds his passion project, Mindful Meditation Australia.

New chair for Perth Festival

Perth businessman Tim Ungar has been appointed chair of Perth Festival.

Overcoming the isolation of leadership

Anglicare WA’s Kate Chaney boasts an impressively diverse resume, but a recent experience led her to realise a challenge that faces all her peers.

Youth orchestra keen to jazz up its image

In any arts landscape the word ‘youth’ is often used interchangeably with ‘amateur’, but that association is far from the reality emerging at the West Australian Youth Jazz Orchestra.

Black Swan Prize rebrand honours history

Western Australia’s $50,000 Black Swan Prize for Portraiture has been renamed the Lester Prize, in honour of the award’s leading patron, Dick Lester.

EnergyView all

Advanced power meters for WA

The state government has announced it will spend $251 million to install advanced electricity meters, bringing WA in line with other states.

iSelect 'deceived' energy customers: ACCC

The consumer watchdog says price compare website iSelect misled customers for two years by recommending energy retailers that paid it higher commissions.

Chevron, Woodside to expand Canadian site

Woodside Petroleum and Chevron have applied for a new licence for their Kitimat LNG plant in northern British Columbia that could nearly double the project's size to produce 18 million tonnes per annum (mtpa).

Synergy accused of $102m of market breaches

An investigation of Synergy’s bidding behaviour by the state’s Economic Regulation Authority found the power generator may have breached pricing rules in nearly 13,000 half-hour trading intervals between March 2016 and July 2017.

McGowan heads to China to talk up LNG

Western Australian Premier Mark McGowan is in Shanghai this week, spruiking the state's LNG industry.

"Mark My Words" PodcastsView all

18 April 2019

PODCAST: Dan Wilkie and Delia Price discuss Iconic Scarborough, a developer collapses, Hossean Pourzand, Ausdrill fraud, Nedlands' density, the Pavilion Markets, and philanthropy and charitable donations.

12 April 2019

PODCAST: Mark Pownall and Mark Beyer discuss house price fundamentals — positive or negative? Perth tech deals, hostile takeovers, election called, Lester art prize, and our special report on the legal sector.

08 April 2019

Mark Pownall talks to former University of Notre Dame Australia vice-chancellor Celia Hammond about her early life, career and running for the federal seat of Curtin.

05 April 2019

PODCAST: Mark Pownall and Mark Beyer discuss the AHG takeover, FMG’s Iron Bridge project, house prices and apartment sales, who is WA’s biggest manufacturer, tourism statistics and indigenous cultural precinct plans, P&N bank merger and our special report on agribusiness.

29 March 2019

PODCAST: Mark Beyer and Matt Mckenzie discuss Scott Morrison and roads funding, Perth's wave park, the Hopman Cup and other tourist attractions we don't have in Perth, urban sprawl, Wesfarmers' surprise takeover target, growth in WA's resources sector, and our new supplement Great for the State.

Food & WineView all

Gage Roads raises $8m for canning

Gage Roads Brewing Company has raised $8 million via a share placement, with the funds raised to go towards its new canned beer product strategy.

Lookout! Galway’s a go while Beach Bar’s a Peach

Publicans and restaurateurs have spent more than $5 million on a string of refurbishments and new developments in the flourishing precinct around Scarborough.

Order-In, Yordar make WA moves

Two online platforms are aiming to shake up business catering in WA.

Freo.Social brews festival feel

New Fremantle venue Freo.Social is drawing on the founders’ experience with music festivals and outdoor cinema.

Gage Roads to open microbrewery in Sydney

Perth-based Gage Roads Brewing Company is setting up shop in Sydney after securing a site for its first microbrewery and taproom in the inner-city suburb of Redfern.

Special ReportsView all

Giving Well 2019

Giving Well 2019

24 April 2019

Some of Perth’s most affluent families have increased their philanthropic activity. We rank the state's largest philanthropic foundations and charities, and talk to Kerry Harmanis, George Jones, Jim Litis and others about their giving.

Family legacy givers lead way with more
Harmanis has mindful plan to help
Personal stories underpin long-term support
Legal review

Legal review

15 April 2019

Law firms adapt to opportunity

Taking stock as sector splutters
Corporate lawyers busy as M&A deals on the rise
Martin off the bench and in the game
Agribusiness 2019

Agribusiness 2019

08 April 2019

CBH Group and Seafarms Group are working on major investments to create scale and efficiency, while smaller agribusinesses are cooperating to access new markets with niche products. In the south west, about $100 million of timber projects are under consideration.

Infrastructure investment, marketing to grow agribusiness
Collaborating to harvest forests’ value
Most Influential 2019

Most Influential 2019

01 April 2019

Looming federal election the key factor

Election set to spark power shift
Power resides where decisions are made

MiningView all

Mt Gibson resumes shipments

Mount Gibson Iron is set to become Australia’s highest-grade exporter of direct-shipping hematite iron ore when its first shipment leaves from Koolan Island later today.

Alaskan delays hit Northern Star’s production

Delays at Northern Star Resources’ Pogo mine have dented the company's quarterly production, but the gold miner forecasts the next quarter’s production will be a record.

Galaxy abandons JV search for Sal De Vida

Galaxy Resources has abandoned its search for a joint venture partner for Sal de Vida, after no company was willing to inject enough capital for the Argentinian project.

FMG follows BHP and Rio with cyclone iron ore cuts

Iron ore miner Fortescue Metals Group has reported flat third-quarter iron ore shipments and cut its annual shipments forecast because of disruptions caused by a tropical cyclone.

South32 coking coal output falls 37%

South32 has reported a 37 per cent fall in its third-quarter coking coal production compared to the second quarter, as its continues to focus on keeping down costs at its Illawarra operation.

OpinionView all

Mark my words podcast

PODCAST: Dan Wilkie and Delia Price discuss Iconic Scarborough, a developer collapses, Hossean Pourzand, Ausdrill fraud, Nedlands' density, the Pavilion Markets, and philanthropy and charitable donations.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss house price fundamentals — positive or negative? Perth tech deals, hostile takeovers, election called, Lester art prize, and our special report on the legal sector.

Nuance lacking from federal policies

OPINION: You have to look closely to find them, but some key policy differences could make all the difference in the looming federal election.

Banks sour on WA gas projects

OPINION: Global oversupply and price pressure, in addition to local environmental regulations, could spell trouble for major LNG projects.

Podcast: Celia Hammond interview

Mark Pownall talks to former University of Notre Dame Australia vice-chancellor Celia Hammond about her early life, career and running for the federal seat of Curtin.

RetailView all

Vicinity Centres chairman to retire at AGM

Vicinity Centres chairman Peter Hay will retire from the board of the shopping centre operator at the company's annual general meeting in August.

UNIQLO to open second store in Perth

Japanese fashion store UNIQLO has announced it will open a second Perth store at Westfield Carousel this winter.

Perth entrepreneur develops ‘clicks-and-bricks’ strategy

A focus on high-end retail and a unique shopping experience are key factors driving Bethany James’ latest move.

Woolworths to close 30 Big W stores

Woolworths will close about 30 underperforming Big W stores and two distribution centres over the next three years after increasing numbers of shoppers took their business online.

Wesfarmers experiments with Bunnings after Coles sell-off

ANALYSIS: As many retailers struggle to deal with the internet revolution, Wesfarmers is undertaking two significant experiments in managing the disruptive influence of online trading to bricks-and-mortar businesses.

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

Chinese graphite testing enhances Black Rock’s product

Black Rock Mining’s Chinese EPC partner Yantai Jinyaun has generated high quality, large flake dominant, graphite concentrates grading 98.7% purity at 95.5% recovery from pilot plant studies on the company’s Tanzanian Mahenge ores. The test work was observed by customers, partners and potential investors and completed to validate the company’s optimised circuit design and processing flowsheets.

Venus reveals high grade surface gold targets in WA

Venus Metals has identified three, near surface high-grade gold drilling targets at its historical Currans Find mining lease, only 25km south of its Youanmi gold mine in the Murchison region of WA. Priority areas include the new gold-bearing, quartz lode discovery at Taylor’s Reef and two prospects at the Red White and Blue mine and Currans North mine defined by anomalous gold assays in drilling and surface sampling.

Middle Island identifies numerous gold targets in WA

Middle Island Resources has identified new targets at the southern end of its Sandstone gold project in WA, which the gold explorer says indicates the area could host the densest clustering of gold deposits within the entire Sandstone greenstone belt. The targets lie within 2.5km of the company’s gold processing plant and significantly enhances the potential to contribute to a mill recommissioning decision.

Novo considers options for East Pilbara gold assets

Novo Resources has appointed two Perth-based technical consultants to examine development options for its East Pilbara gold assets, including the 900,000 ounce Beatons Creek conglomerate project near Nullagine in WA. The company has several prospective gold projects outside of Beatons Creek, including the Blue Spec gold-antimony deposit to the east and the under-explored Talga Talga deposit, located 35km north of Calidus Resources’ 1.25 million ounce Warrawoona gold project.

Rox verifies 1.2 million gold ounces at Youanmi

Rox Resources has completed due diligence of an expansive drilling database from the Youanmi gold project in the Murchison region of WA and confirmed a 1.2 million ounce gold mineral resource estimate for the mine area. The company last week entered into a deal with Venus Metals under which it has the right to acquire a majority position in the Youanmi gold mine.

Most viewed people

Keith Bowker

Keith Bowker

Company Secretary, NKWE Platinum
Company Secretary, Moho Resources

Leonard Math

Leonard Math

Non-Executive Director, Kore Potash
Company Secretary, AVZ Minerals

Peter Burke

Peter Burke

Managing Director, Handle Property Group

John Poynton

John Poynton

Co-Founder, Director, Linc Property
Non-Executive Director, Crown Resorts
Executive Chair, Sapien Cyber
Board of Guardians, Future Fund
Non-Executive Chairman, Strike Energy
Non-Executive Director, Crown Perth
Non-Executive Chairman, Jindalee Partners
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Giving West
Founding Chair of Advisory Board, Alterra

Chris Ellison

Chris Ellison

Managing Director, Mineral Resources
Honorary Consul, Consulate of New Zealand
Co-Founder, Crushing Services International
Co-Founder, PIHA

Thought LeadershipView all

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

BCRC-WA study on the effects a cancer diagnosis has on offspring

In 2018, BCRC-WA conducted a study on the effects a breast cancer diagnosis has on offspring.

Constraint Innovation – Unlocking Value

Constraint Innovation allows management to plan for and manage constraints in dynamic, uncertain environments despite scarce resources.

Business Focus on Real Estate Agencies

What the changing business landscape means for real estate It’s a fact that our business environment is changing significantly, and the real estate sector is no exception.