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

Corporate Finance DealsView all

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.

Blackham to raise $26m to help pay off debts

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.

Crusader sells Juruena to Meteoric for up to $3.5m

Meteoric Resources has struck a deal to pay up to $3 million in cash and scrip for Crusader’s Resources Juruena and Novo Astro gold projects, and Crusader has increased the underwriting of its $4.2 million rights issue by $1 million.

Robayne emerges from administration

Private equity investors have bought the assets and business of Welshpool-based coatings distributor Robayne, two months after the company was placed into voluntary administration.

Politics & the EconomyView all

EU agrees to extend Brexit date

Worn down by three years of indecision in London, European Union leaders have grudgingly offered the UK more time to ease itself out of the bloc, delaying by several weeks - but not eliminating - the threat of a chaotic British exit.

Oil near 2019 peak as supplies tighten

Oil fell nearly one per cent overnight but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and US sanctions on key producers Iran and Venezuela.

Gold slips as jobs data lifts US dollar

Gold prices dipped overnight in volatile trade after hitting three-week highs earlier in the session as a set of better than expected US data lifted the US dollar, while palladium notched a record peak on supply concerns.

Wall St rises as Apple, tech shares climb

An Apple-led tech rally has pushed Wall Street higher as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.

Leadership needed to push licence reform

Appointing a senior minister to manage reform of business licensing and sunset clauses would assist the state government control the proliferation of permits that tie-up enterprises, according to a review released today.

PropertyView all

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.

BHP starts $1.2m Brookfield logo upgrade

The replacement of the logo at the top of Perth’s second tallest skyscraper has commenced, after BHP Group changed its name from BHP Billiton in November.

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

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.

Mineral Resources wins naming rights for Eagles' nest

The West Coast Eagles’ new $50 million training facility in Lathlain is now known as Mineral Resources Park, with the diversified mining group signing a sponsorship deal with the reigning AFL Premiers.

EnergyView all

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.

WA govt rejects EPA carbon neutral advice

A recommendation by Western Australia's environmental watchdog that new emissions-intensive projects should be carbon neutral has swiftly been rejected by the state government.

"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

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
Risks to WA

Risks to WA

04 February 2019

Concern over China, skills shortages, politics

All eyes on China amid slowing global trade
Project pick-up puts pressure on skills
Business, investors count down to key poll

MiningView all

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.

Beament sells $22m stake

Northern Star Resources executive chairman Bill Beament has sold about $22 million worth of shares in the gold miner, as part of a Family Court settlement.

Perth the home for $46m mining centre

A federal Labor government will make Perth the home base for an Australian Future Mines centre, and has also pledged to provide 50 mining engineering scholarships at WA universities.

OpinionView all

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.

Mark my words podcast

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.

RetailView all

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.

Wesfarmers shareholders to receive $1bn special dividend

Wesfarmers is handing more than $1 billion of the cash it raised by demerging Coles and selling other assets back to shareholders in the form of a special dividend.

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

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.

Metalicity pegs new ground over zinc targets in WA

Metalicity Limited has used open file Government data to generate exploratory base metal targets and stake a new tenement, adjacent to the giant Admiral Bay zinc project in the Kimberley region of WA. The work interprets potential domed structural positions for the trapping of mineralised fluids, enhancing the prospectivity for mineralisation in areas nearer to the surface, than at Admiral Bay nearby.

Strike closes in on gas flows at Jaws-1

Strike Energy has observed encouraging gas surges as it continues to depressurise its ground-breaking Jaws-1 deep coal seam gas well in the Cooper Basin, South Australia. This is consistent with the previous behaviour of the reservoir that resulted in the building desorption front in December last year. Water production rates are currently between 300 and 400 barrels per day.

King River’s vanadium study looks the goods

King River’s decision to investigate acid processing at its giant WA Speewah vanadium- titanium-iron deposit is paying off, with a new engineering study pointing to potential big cuts in the estimated capex for the project. The company has been encouraged by the results and is on track to produce a pre-feasibility study in the September quarter for the project that houses the world’s largest vanadium deposit.

Hawkstone steps up exploration at US lithium clay play

Hawkstone Mining has commenced drilling at its Big Sandy lithium clay project in Arizona state, US to follow up last year’s encouraging drill intersections and metallurgical test work results from the ore system. Best drill results included 43.8 metres grading 2,089 parts per million lithium from just 8.2m down-hole and the company recovered 95% of the lithium from clays by simple acid leaching techniques over 7 hours.

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