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

Corporate Finance DealsView all

Navitas to recommend acceptance of $2.1bn bid

Navitas directors have recommended shareholders accept an increased $2.1 billion takeover proposal by a consortium that includes its founder and former chief executive, Rod Jones, who says the new ownership would boost the company's prospects .

Takeovers Panel receives second Flinders’ notice

Flinders Mines' second largest shareholder has submitted an application to the Takeovers Panel to prevent the company from continuing with its proposed delisting, just a day after it received a similar notice from its 12th largest shareholder.

Shine acquires Carr & Co

ASX-listed law firm Shine Corporate has expanded its presence in Western Australia with the acquisition of local firm Carr & Co Divorce and Family Lawyers.

Lateral raises $7.3m for Soar, Unocart

Tommy Shin-led Lateral Capital Ventures has secured funding for two Perth-based startups, led by a $6.8 million raising for blockchain platform Soar.

TSI in $8.6m purchase

Local tech company Transaction Solutions International has acquired a Sydney-based cloud management business in a deal worth $8.6 million.

Politics & the EconomyView all

Policy risk topping Australian concerns: Allianz

More than a third of Australian risk management experts believe legislative and regulatory changes are the biggest threat to local businesses this year, ahead of a federal election and growing economic protectionism overseas.

Female CEO for WA Treasury Corp

The state government's trend of appointing female leaders to run key agencies has continued, with Kaylene Gulich appointed chief executive of the Western Australian Treasury Corporation today.

WA stocks hit harder than most in 2018

The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.

Nationals MP Broad quitting to save face

Fallen Nationals MP Andrew Broad is quitting politics to ensure he doesn't remain a diminished figure and "half-laughing stock" in parliament, after a scandal involving a younger woman.

Thumping surplus for Wyatt but economic numbers sour

The state’s financial outlook has improved since the May budget by about $3 billion across the next four years, with iron ore royalties and federal grants doing the heavy lifting, but the domestic economy will again shrink this year.

Upcoming Business News EventsView all

Central Park - 19 February 2019

Hyatt - 28 February 2019

PropertyView all

Chinese investor buys Vasse Coles for $20m

An unnamed Chinese private investor has purchased a Coles supermarket in the state’s South West for $19.6 million, part of a $50 million asset sell-off by the retail chain.

Court rules against land developer

The Supreme Court has found prominent land developer and real estate agent Colin Heath breached his fiduciary duties in regard to his role in long-running land development ventures with the Godecke family.

Survey reveals shared concerns over Airbnb users

Property owners using websites such as Airbnb to rent out their homes share similar concerns to their neighbours over short-stay users, with a new survey indicating both groups support tighter regulat

Strata changes offer premium potential

Western Australia’s revamped strata regulations have made it easier for property owners to sell together and realise a higher premium than if they sold individually, particularly in strategic locations.

Perth property recovery a slow road: Riskwise

Property investors in Perth are facing a bleak outlook, according to new research, which showed a combination of oversupply of units and apartments, lending restrictions and low rental returns would result in 15 per cent negative growth over the next five years.

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

Screenwest moves on from drama

Screenwest’s new CEO anticipates a strong project pipeline will allow the organisation to move past a period of instability.

$3.4m for refugee support

Communicare, Save the Children and Centrecare have joined forces to deliver a new federal program for migrants and refugees to Western Australia called Settle In.

Former NAB exec to lead Minderoo

Andrew and Nicola Forrest have recruited a former banking executive as the inaugural chief executive of their private company Minderoo, while also disclosing its total assets more than doubled last ye

Kalaf joins Festival board

Former Youth Focus chief executive Fiona Kalaf has been appointed to the board of arts organisation Perth Festival.

Summer Nights heat up the Blue Room

As business winds down ahead of the Christmas break, The Blue Room Theatre is ramping up its offering with the release of its Summer Nights campaign for Fringe World Festival 2019.

EnergyView all

Case for renewables, but coal will power on

Wind and solar generation backed by storage are competitive with coal and gas, according to a recent report by the CSIRO, but that does not mean coal-fired generation will be out of the picture.

Second waste to power plant closing on construction

Proponents of a $400 million waste to energy facility to be built in East Rockingham are hoping to get construction under way within months after finalising a waste supply deal with utilities giant Suez.

Appointments wrap

Former Synergy executive Stephanie Unwin is set to lead regional energy retailer Horizon Power next year, while Screenwest, SNC-Lavalin, Worksafe WA and Destination Perth have also announced significant appointments.

Pluto gas enters domestic orbit

Domestic gas has started flowing from Woodside Petroleum’s Pluto plant near Karratha today, around six years after LNG exports from the facility got under way.

Woodside moves forward in Senegal

Front end engineering and design work for Woodside Petroleum’s SNE oil development in Senegal has been awarded to Subsea Integration Alliance, with a final investment decision penciled in for mid-2019, after a long dispute among the project’s partners.

"Mark My Words" PodcastsView all

18 January 2019

PODCAST: Mark Pownall and Mark Beyer discuss Woodside projects, Heath Development, Navitas, rising philanthropy and our special report on WA’s biggest deals and dealmakers.

11 January 2019

PODCAST: Mark Pownall and Mark Beyer discuss Perth’s luxury suburbs, crayfishing drama, tourism downturn, bumper grain harvest, Minderoo’s new CEO and our special report on the increasingly important and newsworthy aged care sector.

14 December 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss Stan Perron, our update on major WA projects — some going ahead, some not — Westport, the space agency, lobster quotas, and our person of the year feature.

07 December 2018

PODCAST: Mark Pownall and Mark Beyer discuss property development challenges, weak housing market, Fast Brick Robotics (FBR), subcontractor protections, and our special report on Business Dynasties, including the Buckeridge, Perron, and Blackburne families.

30 November 2018

PODCAST: Mark Pownall and Mark Beyer discuss the Rio Tinto expansion, fracking move, Rob Scott, Eastern Goldfields, Stan Perron and our special report on CEO salaries.

Food & WineView all

New Normal for restaurant waste

A small bar in Subiaco is demonstrating the benefits to business of developing more efficient waste management practices.

New owner for Beach Bar

Scarborough Beach Bar has been thrown a lifeline, with insolvency specialist WA Insolvency Solutions selling the company to hospitality operator the ARK Group, which currently operates venues including The Generous Squire and Market Grounds.

Settlers Tavern finds growth formula

Never settling for second best, a hardworking couple has spent the past 15 years transforming Margaret River’s local pub, Settlers Tavern, into a venue of national note.

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.

Special ReportsView all

WA Business Dynasties 2018

WA Business Dynasties 2018

14 December 2018

Blackburnes leaving lasting legacy in Perth property

Blackburnes’ lasting legacy on Perth property
Success is  one thing, smooth succession quite another
CEO salary survey 2018

CEO salary survey 2018

03 December 2018

Our annual survey highlights new trends

Drop in million-dollar club
Ellison earns $4.7m, or is it $2.4m?
Wealth creators 2018

Wealth creators 2018

27 November 2018

Mixed results for WA's wealthiest

Perron Group set up for long haul
Mixed year for WA's wealth creators
Commitment pays for Sayers, Tomasi

MiningView all

Geologist found dead in Burkina Faso

West Perth-based gold and uranium explorer Predictive Discovery said employees at its joint venture with Progress Minerals in the West African country of Burkina Faso were safe, after a geologist working for its Canadian partner was kidnapped from the project site and killed.

Rio Tinto iron ore production up 2%

Mining giant Rio Tinto expects to produce more iron ore this year, after it shipped 338.2 million tonnes of iron ore from its Pilbara operations in 2018, in line with full-year guidance.

BHP overcooks local content claim

BHP Group will be double-checking its advertising copy in future after publishing full-page advertisements that mistakenly claimed major international business CPB Contractors was based in Western Australia.

Ausdrill CFO departs for Adelaide Brighton

Ausdrill has announced its chief financial officer Theresa Mlikota will leave company within the next three months to undertake the same role at ASX-listed construction materials and lime producer Adelaide Brighton.

Rio’s force majeure on iron ore

Rio Tinto has halted exports of iron ore to some of its customers, after a fire last Thursday engulfed parts of its Cape Lambert export facility, located 40 kilometres north of Karratha.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Woodside projects, Heath Development, Navitas, rising philanthropy and our special report on WA’s biggest deals and dealmakers.

An upside for every downside

The protracted Brexit negotiations, a tough-talking new leader in Brazil, and a buoyant gold price all bode well for WA in the year ahead.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Perth’s luxury suburbs, crayfishing drama, tourism downturn, bumper grain harvest, Minderoo’s new CEO and our special report on the increasingly important and newsworthy aged care sector.

Activation, targeting key to build tourism

Opinion: Los Angeles and Miami should inspire Western Australians hoping to ignite tourist attention, but our state needs to consider how to generate the most value from the industry.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss Stan Perron, our update on major WA projects — some going ahead, some not — Westport, the space agency, lobster quotas, and our person of the year feature.

RetailView all

Scott embraces disruption at Wesfarmers

Disruption, a demerger and divestments are shaping Wesfarmers’ long-term approach to growth, managing director Rob Scott told last week’s Success & Leadership breakfast.

Bunnings UK sell-off still stings Wesfarmers CEO Scott

Wesfarmers chief executive Rob Scott says while decisions to sell out of Bunnings’ loss-making operations in the UK and Ireland, and to demerge supermarkets giant Coles, were easy in a commercial sense, the Bunnings move in particular proved taxing on an emotional level.

Tommy Hilfiger opens Perth store

International designer clothing brand Tommy Hilfiger has today opened its first full-price store in Western Australia, with a new outlet located in the Claremont Quarter.

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.

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

Artemis discovers multiple magnetic targets in Pilbara

Artemis Resources has discovered multiple exploration targets from a geophysical interpretation of its high-resolution, aeromagnetic survey over its Armada prospect in the emerging Paterson Ranges in the eastern Pilbara of WA. Two new priority targets lie in a 6km long corridor, directly along strike and north of Greatland Gold’s spectacular new Havieron copper-gold discovery. Gravity surveys will now be undertaken to better define the highest priority targets.

Phylogica on verge of peptide vaccine breakthrough

ASX-listed biotech Phylogica has continued its march towards commercialisation of its potentially game-changing biological “peptide” vaccine, with the Perth company set to release results from in-vitro testing by mid-2019. Phylogica says its vaccine is able to provoke an amplified immune response against diseased tissue including viruses and cancer. The vaccine is based on technology that allows drugs to fully penetrate cell walls in order to deliver a drug payload.

10km of Pilbara gold anomalies for Kairos

Kairos Minerals has uncovered widespread gold anomalies over more than 10km strike at its emerging Croydon gold project, located about 120km southwest of Port Hedland in Pilbara region of WA. Encouraging assay results up to 1.53g/t gold were returned from stream sediment sampling, with most of the new anomalies recorded from the same rock unit that hosts Novo Resources’ 667,000 ounce Beatons Creek gold resource further east.

Spectrum onto multiple gold targets in WA

Spectrum Metals has generated multiple, high priority drill targets from a regional exploration auger geochemical sampling program at its newly acquired Penny West gold project, located in the Murchison mining district of WA. The company said it will drill the Columbia-Magenta prospect in the coming weeks and also target high grade gold mineralisation beneath the historic Penny West open pit shell.

Aspire set to pounce on supply gap for coking coal

Aspire Mining has reported that the expected supply and demand gap in the high quality, “fat” coking coal market in China over coming years will assist in fast tracking the development of its Ovoot coal project in north western Mongolia. The company recently finalised a $15m financing package for the project and is now debt free and fully funded through to the completion of all required feasibility studies.

Most viewed people

Simon Grant-Rennick

Simon Grant-Rennick

Former Executive Director, Marketing &
Sales (Interim Chair since July 2017), Hipo Resources

Theresa Mlikota

Theresa Mlikota

Chief Financial Officer (Outgoing 2019), Ausdrill
Chief Financial Officer, Adelaide Brighton

Brooke Arnot

Brooke Arnot

Former Governor, Petroleum Club of WA
Former Recruitment Manager, Walker Technical Consultants

John Langoulant

John Langoulant

Chairman, GESB
Chairman, DBP
State Chairman WA, Westpac
Non-Executive Chair, Telethon Kids Institute
State President, WA, Committee for Economic Development of Australia
Non-Executive Chair, Rottnest Island Authority
Non-Executive Chair, Pawsey Supercomputing Centre
Chairman, Australian Gas Infrastructure Group
Non-Executive Chair, ARTrinsic Inc

Arief Sidarto

Arief Sidarto

Non-Executive Director, Macmahon Holdings

Thought LeadershipView all

More than "giving for good", supporting BCRC-WA saves lives

Breast Cancer Research Centre-WA (BCRC-WA) will open a world class integrated breast cancer treatment, research and patient support service centre in Perth in 2020 which will further consolidate our r

Land of Sweeping Plains

Schneider Electric and SA Power Networks combine to combat distributed power network outages.

Amazon Alexa is coming, you're invited.

In 1950, Bell Labs invented Audrey, a machine that could understand the digits zero to nine with a degree of accuracy up to ninety percent.

Boosting your career prospects

It should come as no surprise that today’s job market is changing rapidly.

WA BREAST CANCER SPECIALIST’S DETERMINATION TO CURE INCURABLE

Finding a cure for metastatic breast cancer is what drives Perth medical oncologist Professor Arlene Chan, a world leader when it comes to research into advanced breast disease.