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

Corporate Finance DealsView all

Somers & Partners links with Mejority Capital

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

InvoCare in SW funeral buy

Listed funeral company InvoCare has continued to expand its market share in Western Australia, after purchasing South West business Archer & Sons Funeral Homes.

Tap rejects $30m Risco bid

Tap Oil has urged shareholders to reject a $29.8 million takeover bid from major shareholder Risco Energy Investments, after independent expert BDO valued the company well above the offer price.

Sandfire buys into Alaska project

Sandfire Resources has entered into a strategic relationship with Victoria-based White Rock Minerals, which includes a $2.5 million equity investment and an option to earn-in to the junior explorer’s Red Mountain zinc project in Alaska.

Primero in steady ASX debut after $25m IPO

Local engineering company Primero Group made a steady debut on the ASX today after completing a $25 million initial public offering.

Most CommentedView all

Iconic Scarborough gets the go ahead

Following the rejection of an initial proposal late last year, the Metropolitan Redevelopment Authority has given 3 Oceans Property the green light to progress its twin-tower mixed-use development on the corner of West Coast Highway and Scarborough Beach Road.

Fini adds to Freo sustainability

Several alternative approaches to tackling housing affordability are taking shape across Fremantle, with social enterprise Nightingale Housing one step closer to actualising its Wood Street project with its recent launch of presales.

Busselton shortlisted for Qantas academy

Busselton has been shortlisted with nine other regional cities nationwide as the potential home for the new Qantas pilot academy, weeks after the environmental watchdog recommended conditional approval for the operations of a $70 million upgrade at the Busselton-Margaret River Airport.

Perth surf park a step closer to $28m takeoff

A private Perth company led by former oil and gas executive Andrew Ross is close to realising its vision of building artificial wave parks across Australia.

Vasse Felix confirms Watershed purchase

Margaret River winery Vasse Felix is set to acquire the principal assets of Watershed Premium Wines, under a $20 million deal that allows Watershed’s cellar door and restaurant to continue operating under a two-year lease agreement.

Politics & the EconomyView all

WA unemployment falls to 6.1%

After reaching a 16-year high in March, Western Australia’s unemployment rate has enjoyed its third straight month of decline, with nearly 3,000 jobs added across the state in June.

Forethought needed for lithium boom dreams

Lithium advocates have been cautioned to separate facts from hype as it is not yet clear if battery manufacturing in Western Australia will be practical, although refining plans should proceed immediately, according to Mckinsey & Co partner Prabhav Sharma.

Tax changes key to investment flow

Lower company tax rates and changes to power pricing are among possible moves that would support the state’s economic development, according to local academic Peter Hartley.

State govt defends Huawei contract

The state government says there was no conflict of interest with the recent awarding of a $205 million contract to Huawei, after it was revealed the Chinese group paid for flights and phones for two cabinet members during a trip to China in 2015.

WA accepts $3.3bn GST compromise

The planned overhaul of the GST distribution system may not be perfect, but it's a pragmatic and creative response all states and territories should be able to accept, Western Australian Treasurer Ben Wyatt said today.

Upcoming Business News EventsView all

Grand Ballroom, Hyatt Regency Perth - 25 July 2018

PropertyView all

Housing data shows 10-year WA decline

Two reports out today highlight the weakness in Western Australian property prices over the past decade, including dramatic falls in some regional pockets, but the upside is the state has the most affordable housing across the nation.

Growthpoint puts $91m into Perth office market

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth’s commercial office market.

West Perth digging itself out of a hole

Demand for office space in West Perth has fluctuated widely with commodity prices and the mining sector’s fortunes but the suburb is now attracting interest from diverse industry sectors.

Chinese investor in $19m play for Kelmscott Plaza

A private Chinese investor has made its first move in Perth’s property market, purchasing Kelmscott Plaza Shopping Centre for $19 million.

Lifting Perth’s lagging land sales

Growth in population and jobs are two factors that will lift the volume of residential greenfields land sales, a recent industry event has heard.

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

Howard Park finds natural fit

Howard Park Wines has signed up as a new sponsor for the West Australian Ballet’s upcoming season of Tchaikovsky and The Nutcracker, with the winery having deep roots in the art form.

Christie creates Perth’s next gallery

Respected South African-born artist and gallery owner Catherine Christie is on the cusp of launching a new gallery in Perth since moving to Western Australia five years ago.

Grants given to boost waste management

The state government has distributed about $1 million in grants among sixteen environmental organisations as it aims at boosts recycling and improve waste management practices in Western Australia.

TriEvents runs its course

Major events management operator TriEvents has folded, creating an opportunity for new players to step in and join the race.

Lotterywest lifts sales to $855m

Lotterywest has increased its total community grants after achieving a 3.4 per cent lift in sales to $855 million in 2017-18, a notable turnaround from the prior year when it failed to meet its budget.

EnergyView all

Carnarvon jumps after staggering oil find

Shares in Carnarvon Petroleum were up 57 per cent today after the company revealed its joint venture partner Quadrant Energy had made an oil discovery described as staggering.

Gorgon leads way as LNG exports pass $30bn

A doubling of production at Chevron’s Gorgon LNG plant has helped boost national exports of the fuel 38 per cent to $30.8 billion in the year to June 2018, according to consultancy Energy Quest.

Battery trend broadens to business

An avocado farm near Pemberton, deep in the state’s South West, may not be the obvious location for an award-winning energy technology application.

Trump tweet pushes oil price down

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude.

Pacific flags $15m impairments

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

"Mark My Words" PodcastsView all

13 July 2018

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

06 July 2018

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

29 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss defence contracts, Scarborough high rise, Landgate and TAB privatisation, Atlas Iron, 2018's RIsing Stars, and our special report on Indigenous business.

22 June 2018

PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.

15 June 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss BHP’s new iron ore mine, plus more good news on lithium and nickel, the battle over Atlas Iron and shipping rights at Port Hedland, Perth house prices – which suburbs have delivered the best long-term returns, and our special report on infrastructure.

Food & WineView all

Ku De Ta failure dents the Point

The $50 million On the Point hospitality precinct in East Perth has suffered a major setback after its anchor tenant was placed in administration but other restaurants and bars at the riverfront property are set to continue trading.

Gamble bets on rural NSW venture

Restaurateur Kim Gamble is enjoying the country life in NSW after 30 years of running cafes and bars in Perth.

Chocolate cafe into liquidation

The Perth-based Guylian Belgian Chocolate Cafe franchise has been placed into liquidation, just over a year after the business opened on St Georges Terrace.

Vic Park bar voted best in Australia

Victoria Park bar the Dutch Trading Co has been named the best beer venue in the country, as judged by a panel of 23 industry leaders coordinated by Beer and Brewer Magazine.

Gage Roads buys Matso's for $16m

Gage Roads Brewing Company has struck a deal to purchase Matso’s Broome Brewery for $16.1 million, along with a $12 million capital raising to fund the acquisition.

Special ReportsView all

Corporate finance June 2018

Corporate finance June 2018

16 July 2018

Six-page analysis of the top advisers

Sternship making its mark
New corporate advisory players lift market share
Growth in alternative financing
Total shareholder returns 2018

Total shareholder returns 2018

09 July 2018

Resources returns lead rebound
Strong returns for AusCann investors
Indigenous Business 2018

Indigenous Business 2018

02 July 2018

Contractors refine their growth strategies

Indigenous contractors deliver through diversity
Infrastructure contractors

Infrastructure contractors

18 June 2018

Transport, energy projects create opportunities

Labour challenge looms as work ebbs and flows
State still sorting contracts
From Bibra Lake to the Big Apple
Contractors switch on for next generation of power

MiningView all

Poseiden flags $56.7m restart at Black Swan

Poseidon Nickel has released a feasibility study confirming the viability of restarting its mothballed Black Swan project near Kalgoorlie, with an estimated capital expenditure of $56.7 million.

NRW secures $176m South Flank contract

NRW Holdings has joined the likes of Clough, Decmil and CPB in securing work at BHP Billiton’s $4.6 billion South Flank iron ore project in the Pilbara, after announcing a $176 million contract to complete earthworks at the site.

Mod in $27m copper deal

MOD Resources has moved to full ownership of its T3 copper project in Botswana, after acquiring UK-based Metal Tiger’s stake of the project in a scrip deal worth $26.6 million.

Northern Star exceeds FY18 guidance

Northern Star Resources has reported above-guidance gold production for the year to June, with plans to expand output beyond 600,000 ounces in 2019, while Blackham Resources posted improved results for the half year to June.

BHP iron ore output up 3%

BHP Billiton's iron ore production rose 3 per cent in the fourth quarter ended June 30 as productivity improved, cementing a record annual output as it set a bigger target for the current year.

OpinionView all

Know-alls tend to come up empty

Take the wrong attitude into a sales meeting and your prospect will more than likely walk out in search of a better deal.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss closures in the hospitality sector, growth in the Pilbara, residential property, the outlook for oil and energy markets, and our quarterly corporate finance review dissects 235 WA deals worth $7 billion.

GST spending pressure

Opinion: The McGowan government would be advised to avoid the irresponsible spending blowout of their predecessors, however tough the political sell.

Change a constant as city grows

Opinion: Sensible development is the only way forward for a city beset by urban sprawl such as Perth.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss GST changes, house prices, contract news, Mining technology, airfares, and total shareholder returns.

RetailView all

Woolies wants fuel IPO despite Caltex deal

Woolworths still wants to exit the petrol business despite having inked a 15-year fuel supply deal with Caltex Australia.

KFC expansion swells Collins Foods profit

Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.

Metcash shares lift despite $150m FY loss

Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.

Kambo's into administration

Customers of local whitegoods and home appliance retailers Kambo’s and Liebe + Haus have been told they will need to wait several days before finding out if their credit purchases are still valid after the two jointly-owned businesses were placed into administration on Friday.

Wesfarmers leadership changes

Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.

Most viewed people

Mike Donaldson

Mike Donaldson

Former Non-Executive Chairman, Beadell Resources

Nicole Adshead-Bell

Nicole Adshead-Bell

CEO &
MD (since July 2018)
(Non-Executive Director 2016-2018), Beadell Resources

John Poynton

John Poynton

Director, Linc Property
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

Alexandra Atkins

Alexandra Atkins

Non-Executive Director, Ausdrill

Georgia Bolden Strestik

Georgia Bolden Strestik

Former Chairman, Treetops Montessori and International Baccalaureate School

Thought LeadershipView all

Breaking into the global marketplace

With the rise of globalisation comes the increasing demand for businesses to expand into international markets in order to stay competitive. This can create significant opportunities for organisations of all sizes, however it can also pose a great risk if approached in the wrong way.

Helping people with no choices

Imagine what you would do if you found yourself homeless, if you lost your job and couldn’t pay your bills, if you couldn’t provide a meal for yourself or your family, if you didn’t have a safe and se

How the GDPR affects you, even if you think it doesn’t

You’ve probably heard about the GDPR, but have you taken action in time for the 25 May enforcement date? Here’s my quickstart guide to compliance for Australian businesses.

If you don’t test your DR strategy how can your organisation be IT Resilient?

I.T. has come a long way since the days of merely providing a computer, mouse, and keyboard to its employees. Technology is now fundamental to the operation of any business.

Help – It’s performance review time!

My fellow graduates and I feel unsure about how well we will fit into a new workplace, and how other employees and management will treat us.