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

Corporate Finance DealsView all

Two juniors raise capital

AusQuest is set to raise $2.4 million to advance exploration projects in Western Australia and Peru, while Sagon Resources tapped the market for $1.25 million.

BGH to create Australia’s largest cyber firm

Perth-based Diamond Cyber Security and Asterisk will be two of at least 12 Australian cyber security firms bought out by BGH Capital and merged into a new entity to compete with the larger US-based vendors.

IMF makes $141m Euro acquisition

IMF Bentham has struck an agreement to acquire Omni Bridgeway for up to €87.5 million ($A141 million), which will be a tie-up of two of the biggest players in the litigation funding industry.

Merchant buys $12m AusCann stake

Perth-based Merchant Group is now the largest shareholder of medical cannabis company AusCann Group Holdings, after it acquired an 11.43 per cent stake worth around $11.6 million.

Santos buys out Conoco in northern Aus for $2.1bn

Santos has struck a deal to pay up to $US1.44 billion ($A2.12 billion) for ConocoPhillips' interests in northern Australia, including its majority stake in the Darwin LNG plant and its interest in three major gas fields off the coast of Western Australia and the Northern Territory.

Politics & the EconomyView all

Climate protesters shut down Perth CBD

Climate activists have brought traffic to a standstill in Perth's CBD as streets were shut down and police arrested protesters causing disruption.

Unseen diversity in foreign ties

Australia is not as exclusively dependent on China’s economy as commonly perceived, according to research by Business News.

Busselton underwater centre catches funding wave

Busselton is set to have an underwater observatory, after the federal government committed $13 million to the project as part of its Regional Growth Fund.

Cost perceptions plague Perth

Key cost of living indicators show Perth has become one of Australia’s least expensive capital cities in recent years.

No refunds from Facebook-based travel agencies

Consumer Protection has warned Western Australians not to pay for flights and holiday deals through travel agencies using the Facebook platform after receiving more than 200 complaints from customers.

PropertyView all

Co-working space launched at Quest

A new co-working space has opened 18 storeys above Adelaide Terrace, with Quest East Perth establishing a flexible office facility in joint venture with business networking forum The CEO Institute.

Finbar rails against Civic Heart rejection

Western Australia’s biggest apartments developer has blasted planning authorities’ rejection of its Civic Heart proposal in South Perth, saying the process appeared to be “superficial and subjective” as it gears up for a State Administrative Tribunal appeal.

Mirvac steps up affordability

National developer Mirvac is spearheading a push for more affordable housing product in Western Australia, with initiatives designed to provide a stepping stone to home ownership and reduce ongoing living costs.

REIWA outlines industry recovery plan

The Real Estate Institute of Western Australia has renewed its push to increase the stamp duty exemption threshold for first homebuyers, as part of a six-point plan it unveiled to help breathe new life into the state’s weak residential construction and property markets.

New agent appointed to sell Dalkeith mega-mansion

A new agent has been appointed to sell the Dalkeith mansion built by the late Alan Bond, with Mr Bond's daughter Jody Fewster to sell the palatial home on behalf of owner Sue Gibson, after a near two-year sales campaign failed to find a buyer.

WA Event Calendar View all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, register with Scoop Online..

Aboriginal Culture in WA View all

With a history stretching back at least 50,000 years, there are many ways to explore WA’s rich and diverse indigenous heritage..

Arts & CommunityView all

Aikins brings gift for generating giving

Fundraising is a mechanical process and 90 per cent of the work is research, according to an international expert visiting Perth next week.

Taylor goes solo at PICA

Emerging visual artist Curtis Taylor will hold his first solo exhibition at the Perth Institute of Contemporary Arts later this month, titled ‘Untitled (Uura)’.

NDIS providers embrace technology

With the rollout of the NDIS due to be completed by mid-2020, disability service providers are turning to IT solutions to improve efficiency and make the system more accessible to users.

Creatives hit The Heights, now on with the show

An ABC serialised drama is providing consistent work for creatives in WA’s television industry.

Minderoo makes $US300m waste commitment

Andrew and Nicola Forrest’s Minderoo Foundation has announced a $US300 million ($440 million) commitment to establish a new industry-focused initiative to end worldwide plastic waste.

EnergyView all

Coventry Village installs 4,600 solar panels

Coventry Village in Morley has joined the list of Perth shopping centres to go solar, with the installation of a new 1.3-megawatt solar power system.

Synergy hit by $657m loss

Power utility Synergy has taken a $446 million impairment and reported a loss of $656.9 million in the year to June, which the state government-owned business said was driven by higher fixed costs as revenue fell.

Perth business goes carbon neutral

Family-owned fertiliser producer Baileys has been the given the green light as a carbon neutral certified business, as part of an overall strategy to become more environmentally friendly.

CEFC boosts commitment

The Clean Energy Finance Corporation claims to have increased its investment in WA 10-fold since 2018.

Carnegie revises prospectus plans

Carnegie Clean Energy, which is seeking to raise up to $11.5 million after going into voluntary administration earlier this year, has issued a supplementary prospectus that tones down some of the key claims it made to investors only six weeks ago.

Food & WineView all

Prominent Perth restaurateur accused of extortion

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Twenty-five businesses share $166m food contract

The Department of Finance has selected 25 businesses for its new common-use arrangement contract to supply food and beverage items to government agencies across Western Australia.

WA wins big at national food awards

Bacon from Perth, coffee from Broome, pork from Fremantle, and nougat from the Swan Valley have all claimed awards at the 2019 Sydney Royal Fine Food Show’s Taste of Excellence event.

A Pirate Life for Perth in 2020

Local hospitality entrepreneur Andy Freeman is leading a move to build a local branch of South Australian brewery Pirate Life in Perth, with a three level, 1000 person venue to open on Murray Street next year.

HYDE Kitchen coming to Perth

International bar and restaurant chain HYDE Kitchen + Cocktails will feature at Accor’s The Adnate hotel when it opens in October.

Special ReportsView all

Biggest Exporters 2019

Biggest Exporters 2019

14 October 2019

Resources exports continue to surge after years of significant capital investments, while other industries face challenges.
- Chevron dramatically lifts WA exports
- UWA catching up to Curtin on international students
- Competition grows for grain traders

Investment boom pays export dividends
State’s universities bring in $466m
Unpacking the grain drain
Residential builders

Residential builders

09 October 2019

Western Australia’s biggest builders are cautiously optimistic that the worst of the state’s biggest downturn in residential construction is over, with forecasts finally turning positive after five years of declining activity.

Patient still breathing, recovery to take time
ABN heads field in tough market
Professional Services

Professional Services

07 October 2019

Accounting firms are widening their services into new areas as they seek a competitive edge.

PwC extends  full-service  offering
Busy quarter for private, public deals
Wellness@Work

Wellness@Work

01 October 2019

What does it mean to live well at work? Is it an apple in the kitchen, a yoga session at lunch or an office fitted out with a gym?

Companies step up to culture of wellness
Managing happiness En Masse
Healthcare outreach prioritises patients
Digging deep at work for mental health
Great for the State – Edition 7: Natural Resources

Great for the State – Edition 7: Natural Resources

24 September 2019

Natural resources, from mines and farms to beaches.

We shine a light on the visionaries and the volunteers who harness our landscape for the benefit of the community.

Coast, river resources to respect and enjoy
Seven leaders who built WA's resources industry
Producing at their peak
Mining, energy benefits widespread

MiningView all

WA companies band together against slavery

Fortescue Metals Group, South32, Iluka Resources, Western Power and Synergy are among a group of 10 resources and energy companies collaborating to develop a toolkit to pre-screen for modern slavery risks within their supply chains.

Northern Star takes control of Echo

Northern Star Resources has surpassed a 50 per cent stake in takeover target Echo Resources, and has moved swiftly to change the board of the gold junior.

Rio’s Pilbara output recovering

Rio Tinto has recorded an increase in its Pilbara iron ore shipments for the September quarter, but it is still behind in its production results compared to the year prior.

Worley aims to avoid Dar takeover

Worley has asked the Foreign Investment Review Board to look at "possible creeping acquisitions" by Beirut-headquartered Dar Group as the ASX-listed engineering and consulting firm aims to fend off a possible takeover by its largest shareholder.

Measles case at Fortescue mine site in WA

There are concerns of a measles outbreak at a Fortescue Metals Group mine site in Western Australia after a case was confirmed.

OpinionView all

Tall poppies and gender imbalance

OPINION: Undermining successful co-workers is not unique to schools, but it goes some way to explaining the under-representation of women in leadership roles.

Many roads to failure

OPINION: Business sectors slow to recognise the need to shift gears in the face of technological change will struggle to survive.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss Pindan, South Perth developments, big leadership changes, Alan Bond's mansion, tourism figures, Sealink expansion, and our biggest exporters.

The piper must be paid

OPINION: Sensible debate about the cost of progressive environmental policy is missing amid the noise from politicians and green activists.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss interest rates, volatile stock markets, our very own BN30 stock index, house prices, Mia Davies, flexible offices, lobsters, government contracting, and our special report on professional services.

RetailView all

Perth restaurateur not guilty of extortion

The Perth restaurateur behind The Meatball Bar and MOP Donuts has been found guilty of assault but acquitted over claims he threatened to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Bunnings' super error 'wage theft': Labor

Labor Leader Anthony Albanese has branded Bunnings underpaying some workers' superannuation for almost a decade as "wage theft".

Premier profit up 28% despite retail downturn

Premier Investments shares have surged to their highest value in nearly a year after the Solomon Lew-backed retail conglomerate lifted profit and hiked its payout on strong sales at pyjama shop Peter Alexander and Just Jeans.

Kathmandu FY profit climbs on Aussie sales

Kathmandu's key Australian market appears to be weathering the retail chill, with sales of its signature puffer jackets helping offset a revenue decline in New Zealand and propel the company to a new full-year profit peak of $NZ57.63 million ($A53.3 million).

WA hospitality sector shows signs of resurgence

Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.

SkylineView all

Skyline

WA industrial players build on infrastructure momentum

As consumer demand changes, retail and logistics operations start to blur - with automated warehouses a notable aspect of the changing landscape.

Sub-lease office space in hot demand

Perth's office market is heating up, leading independent commercial property specialists Sheffield Property say.

Glimmer of hope in WA house prices

Perth house prices have slumped over the past five years but positive signs are emerging for West Australian households, creating hope of a rebound in residential values.

Density, diversity and the new Australian dream

There’s a word that triggers fear in the community. It’s the D-word – density. That’s why Property Council WA commissioned research to find out what density really means to people and how they believe it will impact their lives.

Tax levers could stimulate property growth

It’s encouraging to hear Treasurer Ben Wyatt being upfront about how land and other taxes may be contributing to weaker conditions for West Australian homeowners and investors.

Bulls N' BearsView all

Bulls N' Bears

Anglo doubles down with major drill hit near Kambalda

Anglo Australian has shown that its previously announced 112m drill hit near Kambalda going 1.5 g/t gold was no fluke. This week, the John Jones led explorer has hit pay dirt again with a 163m drill intersection grading 1.75 g/t gold. Confidence is now building in the consistency and tonnages of the gold mineralisation at Anglo’s Mandilla East project where the rods will be turning for some time.

Blackstone nails broad nickel zones in Vietnam

Blackstone Minerals has revealed more impressive nickel and PGM mineralisation at its Ta Khoa nickel project in northern Vietnam. Broad zones of mineralisation were intersected during recent drilling with widths of up to 33m returned. The company is fully funded for the program, as it collates valuable data ahead of the estimation of a maiden mineral resource and scoping study.

600m long copper/gold drill hit for Hot Chili in Chile

Hot Chili’s latest drilling at the rapidly emerging Cuerpo 3 deposit of its Cortadera porphyry discovery in Chile has extended the thick, copper-gold core of mineralisation by a further 246m, returning a stunning 596 metres grading 0.5% copper and 0.2g/t gold from 328m down-hole. This hole also contains a higher-grade intersection from 430m, that produced 184m @ 0.7% copper and 0.3g/t gold, with significant silver and molybdenum credits.

Lithium Australia lifts stake in strategic partner

Lithium Australia has increased its equity in strategic partner, Envirostream Australia from 18.9% to 23.9%. Envirostream is aiming to develop a national lithium battery recycling program that will recover battery metals that would ordinarily be sent to landfill. The increase enables Lithium Australia to increase its exposure to the lithium battery recycling space that is rapidly gaining momentum.

Venus/Rox outline strong gold, base metal assays in WA

Venus Metals and Rox Resources have revealed some anomalous gold, copper, zinc and lead assays from their initial aircore drilling program that is located adjacent to high-grade gold occurrences at Currans Find North and Spectrum Metals’ recent revered gold find near Youanmi in WA. The shallow drilling identified several intersections worthy of follow up, with gold peaking at 0.73g/t, copper at 0.23%, zinc at 0.29% and lead at 0.15%.

Thought LeadershipView all

China's One Belt, One Road Initiative – What does it mean for Western Australia?

Asia-Pacific infrastructure is booming. In Australia, little is made of China's vast One Belt, One Road Initiative. The initiative revives and connects ancient trading routes and will drive huge growth in Chinese investment and infrastructure until the mid-2020s. How does WA fit in?

Are you up to date with personal and carer’s leave changes?

In the months following the Mondelez v AMWU case, which resulted in significant changes to personal and carer’s leave, many businesses have been left feeling confused and uncertain about how personal

The rise of retail living

As shopping centres continue to evolve, owners are embracing the concept of mixed-use developments; combining shopping, work, entertainment and living to create vibrant destinations.

Retaining heritage and embracing the future at Montario Quarter

Perth’s medical specialists have always endeavoured to discover new treatments, surgeries and approaches to improve results for their patients.

Myth Busting: Will technology create more mining jobs?

There remains a perception that robots will take over our jobs in the mining industry. Our research commissioned by the Minerals Council of Australia (MCA), clearly demonstrates this is wrong.