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

Corporate Finance DealsView all

Westgold to sell Higginsville for $50m

Perth-based Westgold Resources has agreed to sell its Higginsville gold operation to RNC Minerals, in a cash and scrip deal worth $50 million.

Wesfarmers makes $1.5bn move on Lynas

Wesfarmers has made a $1.5 billion indicative offer for rare earths miner Lynas Corporation, its first takeover bid since its ill-fated $705 million purchase of Homebase in the UK in February 2016.

Sandfire to spend up to $30m in Alaska JV

Sandfire Resources has announced an earn-in and joint venture option agreement with ASX-listed White Rock Minerals for a stake of up to 70 per cent in the multi-commodity Red Mountain project in central Alaska.

Doray shareholders overwhelmingly support merger

Over 99 per cent of Doray Minerals' shareholders have voted in favour of the company’s proposed $615 million merger with fellow locally-based gold miner Silver Lake Resources.

Curve buys Progressive Medical

Digital healthcare agency Curve Tomorrow has expanded into Perth through the acquisition of Progressive Medical.

Politics & the EconomyView all

Labor wants to guarantee a living wage

Australia's poorest workers will be guaranteed a living wage under a federal Labor government but business groups warn it will put jobs at risk.

Oil mixed on slowdown fears, supply hopes

Oil prices are mixed as concerns about a slowdown in global economic growth lingered, offset by the prospect of tighter US crude supply.

Safe haven gold reaches three-week high

Gold prices have risen to a more than three-week high, helped by a weaker dollar and as worries over global economic growth pushed investors into safe-haven assets.

Gold up as growth fears dent risk appetite

Gold prices are up as weak economic data from the euro zone exacerbates fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly two months.

Oil prices dip further on demand worries

Oil prices have fallen about two per cent as focus shifts to a lack of progress in US-China trade talks and as grim manufacturing data from Germany and the US reignited fears of a slowdown in the global economy and oil demand.

PropertyView all

Warrington spends $18.25m on St Georges Terrace asset

Warrington Property has made its second major Perth acquisition of 2019, paying $18.25 million for the office building at 179 St Georges Terrace.

Affordable housing body offers $315m of loans

More affordable housing will soon be available to some struggling Australians, with a federal agency offering community housing providers $315 million worth of loans at cheaper-than-average rates.

SMEs join suburbs to CBD office flight

Small to medium enterprises have joined the unrelenting migration of firms moving from the suburbs to Perth’s CBD, with affordability in the central city office market described as unprecedented.

Far East’s Perth projects raise bar

Residents will start moving into Far East Consortium’s premium apartments project The Towers at Elizabeth Quay before the end of the month, with the Hong Kong-headquartered developer shifting focus to its Perth Hub at Perth City Link as its Ritz-Carlton Hotel also nears completion.

Pindan wins $70m aged care build

Aged care group Rosewood has appointed Pindan for its latest build, a $70 million facility to be built on Cleaver Street in West Perth that will include a restoration of the heritage-listed Florence Hummerston Lodge.

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

Alcoa finds cultural fit at Cott

Major sponsor Alcoa has thrown its support behind Cottesloe’s annual Sculpture by the Sea exhibition as the event’s financial difficulties again cast doubt on its future.

Taking the symphony into a new world

Asher Fisch has been keenly aware of the need to lift the public profile and reputation of the WA Symphony Orchestra since he became its artistic leader five years ago.

Curtis leads philanthropic shift

40under40: Alicia Curtis credits her years of community involvement as providing the foundations of her passion for philanthropy.

Local focus for dementia care

After a turbulent year shifting from a national partnership, Alzheimer’s WA is leading the charge to help WA communities deal with the growing number of dementia sufferers.

Delivering the Karijini experience

A Pilbara not for profit is using the Karijini Experience to boost its social enterprise arm, while shunning sponsorship from mining companies.

EnergyView all

Woodside signs deal with space agency

Woodside Energy and the Australian Space Agency (ASA) have signed a statement of strategic intent and cooperation, which is aimed at promoting technology transfer between the space sector and the oil and gas industry.

Mooney throws Carnegie a lifeline

Carnegie Clean Energy company secretary and non-executive director Grant Mooney has agreed to help fund the company’s operations, while administrators KordaMentha attempt to recapitalise its core wave energy business.

Carnegie enters administration

Carnegie Clean Energy has gone into voluntary administration, three days after the state government withdrew funding for its Albany Wave project.

Uncertainty hangs over Browse, Scarborough emissions

Woodside Petroleum has warned it would need to ramp down production at the Burrup Hub in the mid 2020s if the state government does not land on an emissions policy that would support the company’s $46 billion of backfill projects.

Chevron picks Aker for Jansz-Io design work

A second major project to backfill gas into the Gorgon LNG plant on Barrow Island is on the horizon, with Chevron appointing Norway-based Aker Solutions for front end engineering and design work on the Jansz-Io compression project.

"Mark My Words" PodcastsView all

22 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss Perth's cost of living, tourism marketing, Golden Group and Far East Consortium's apartment projects, election campaign, wages and unemployment, court battles, Woodside and Sapien Cyber, and our special report on ICT.

15 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss 40under40, EPA carbon shift, biotech, KPMG buys Ferrier Hodgson, Optus stadium, executive remuneration, and our special report on oil and gas.

08 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss carbon crackdown, Fraser Institute ranking, WA tech partnerships, lithium green light, pub sales, women in business, WACA upgrade, and our 40under40 preview.

01 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss the BGC sale, housing starts, Treasurer’s forecast, Alinta’s wind farm, the Pavilion Market site in Subiaco, family business succession, and our special feature on land developers.

27 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss challenges facing company directors and their own experiences undertaking Australian Institute of Company Directors courses.

Food & WineView all

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.

Keybridge unwraps $20m bid for Yowie

Listed investment firm Keybridge Capital has unwrapped a $20 million takeover bid for loss-making confectionary company Yowie.

New plan approved for old synagogue

Fremantle’s idle synagogue will be transformed into a restaurant and hospitality venue after Fremantle Council’s planning committee approved the proposal last night, the latest of a string of approved plans to repurpose heritage buildings in the area.

Evolving the offering a priority for Perth publican

With the recent acquisitions of The Breakwater and the Newport, Perth-based hospitality group Capitol Corp is continuing to diversify its offering.

Single Fin drives solid quarter for Gage Roads Brewing

Gage Roads Brewing’s Single Fin Summer Ale has propelled the Palmyra-based brewer to a quarter of solid growth, after the brew was named the nation’s fastest-growing beer brand late last year.

Special ReportsView all

ICT – small business 2019

ICT – small business 2019

25 March 2019

The challenges of digital transformation and cyber security for SMEs.

Rapid tech changes create challenges
Cyber security a key risk
Oil & gas 2019

Oil & gas 2019

18 March 2019

18 projects worth $60bn in pipeline

Contracts, challenges for $60bn of oil and gas projects
Woodside, Evol aim to fuel ships boom
Land developers 2019

Land developers 2019

05 March 2019

Resilient players await sector uptick

Resilient developers await market rebound
Amex rebrand the latest in shifting landscape
Choice drives LandCorp infill push
Junior miners 2019

Junior miners 2019

25 February 2019

Junior miners come under pressure from the market conditions, and from the regulators.

Mergers, brownfields projects options for struggling juniors
Disclosure concerns on the rise

MiningView all

Equipment problems to hit Dacian production

Dacian Gold has lowered its full-year production forecast at its Mt Morgans gold project by up to 16 per cent, due to an equipment shortage at the mine.

Jupiter weighs up iron ore options

Jupiter Mines has tapped Hartleys to act as a corporate adviser, as the company re-evaluates its Central Yilgarn iron ore projects in light of improved iron ore market conditions.

St Barbara shares plunge 30% on mine troubles

Shares in St Barbara have fallen 30 per cent after the company said it would have to keep using trucking to extract gold from its flagship Gwalia project, due to ventilation issues it discovered at the underground mine.

Judge labels Palmer/CITIC dispute a waste

Supreme Court justice Kenneth Martin has slammed the long-running legal battle between Clive Palmer’s Mineralogy and CITIC Pacific Mining as a massive, unnecessary waste of judicial resources, with both parties bearing responsibility.

FMG to create autonomous transport for urban areas

Fortescue Metals Group will establish a research and development centre in Karratha to develop autonomous transport for urban areas.

OpinionView all

Bouncing back from digital blows

As a publisher, Business News has benefitted from the massive changes across the media landscape wrought by digital technology during the past two decades.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Perth's cost of living, tourism marketing, Golden Group and Far East Consortium's apartment projects, election campaign, wages and unemployment, court battles, Woodside and Sapien Cyber, and our special report on ICT.

Inflection point for transport

OPINION: Emissions concerns are one factor driving change in the car industry, but the transport habits of a changing demographic are also in play.

EPA stirs resources sector

OPINION: Industrial emissions policy in a resources state such as WA is fraught, with much of the electorate wanting action and business requiring certainty.

Awards track changing dynamic

OPINION: Over nearly two decades the 40under40 Awards have provided a series of snapshots of the state’s business sector.

RetailView all

Coles’ $150m deal to double deliveries

Coles will spend up to $150 million over the next four years to double its home delivery capacity after signing a deal to use tech from UK online supermarket Ocado.

Myer shares soar after first-half profit

Myer shares are soaring after the department store chain cut its debt by a third and posted a $38.4 million first-half profit.

Coles unloads pubs operation in $200m deal

Coles is offloading management of its 87 pubs, including four in Western Australia, in a $200 million deal with private equity controlled Australian Venue Co.

Harvey Norman profit up but Aust sales dip

Harvey Norman has lifted first-half profit on a strong performance at its overseas ventures, but sales at the company's Australian franchises were weak.

Prominent Perth fashion label to close

One of Perth’s most prominent fashion designers has announced the closure of an internationally successful label, but hinted at plans for something big in the pipeline.

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

Greenland reduces civil construction costs by 44%

Greenland Minerals has reduced civil construction costs for its massive Kvanefjeld rare earths project in southern Greenland by 44% to USD$175m following the completion of key engineering studies. The savings were achieved through substantial reductions in civil earthworks, an updated port design and greater use of local materials. The company added that process plant optimisation is also nearing completion.

Rods are spinning for Anglo near Kalgoorlie

Anglo Australian Resources has started an extensive drilling campaign that is aimed at fast-tracking development of its Feysville gold project, located 14km southeast of Kalgoorlie. The campaign includes infill drilling on the higher-grade core of the Think Big deposit and will also test shallow high-grade supergene gold mineralisation at the Saintly prospect and evaluate the potential for economic gold mineralisation at the Hyperno prospect.

Artemis focus shifts towards West Pilbara gold hub

Artemis Resources has fully committed to developing its West Pilbara gold assets and complete an upgrade of the strategic Radio Hill processing plant near Karratha in WA. The company will divest several non-core assets and is advancing discussions with other operators for toll treatment options through its Radio Hill plant for a number of stranded gold deposits within a suitable trucking distance.

Legend drilling new base metal targets in Fraser Range

Legend Mining has started aircore drilling over two intriguing base metal targets it located late last year at its Rockford project in the revered Fraser Range in WA. The first target at Rockford South returned results peaking at 3m @ 0.71% nickel and 0.04% cobalt from 40m down-hole. About 9.5km to the northeast, the company will target anomalous copper-zinc-silver mineralisation adjacent to an electrically conductive geophysical anomaly.

Venus review yields five compelling gold targets in WA

Venus Metals has delineated five prospective looking gold drilling targets from geophysical surveys completed along the under-explored Youanmi shear zone, centred 5km north of Spectrum Metals’ new Penny North discovery near the Youanmi mining centre in the Murchison region of WA. The shear zone hosts the company’s mothballed Youanmi gold mine and Spectrum’s Penny West gold project.

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Quentin Gracanin

Quentin Gracanin

Former Non-Executive Director, XTD

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Non-Executive Chairman, King River Resources
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Joe Ricciardo

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Patrick Kedemos

Former Honorary Consul , Consulate of France
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Thought LeadershipView all

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.

Europe is open for business

Europe and Australia are closer than ever in terms of bilateral, regional and global cooperation. This partnership continues to grow.

Green tips to introduce CSR to your organisation

It’s the three words that all companies hear, yet most find hard to actively respond to; Corporate Social Responsibility.So, what actually is Corporate Social Responsibility (CSR) and how can you, as

Elevating Australia - setting the standards for the Oil & Gas industry

More than ever, operators, suppliers, contractors and drilling companies alike are aware of the need for and value of comprehensive sets of standards that provide greater consistency of safe practices