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

Corporate Finance DealsView all

Risco ups Tap offer to $39m

Tap Oil major shareholder Risco Energy Investments has increased its takeover offer for the oil and gas company to $38.7 million on the back of BDO’s independent expert valuation.

ACCC backs Fero takeover

Kewdale-based manufacturer Fero Group appears set to be acquired by global outifit DYWIDAG-Systems International (DSI) Group, after the competition watchdog said it would not oppose the deal.

Altura calls off takeover talks

Altura Mining has decided not to pursue a takeover from its largest shareholder, after its corporate adviser Citigroup began investigating a potential transaction in April.

Velpic in $4m sale

Perth-based tech company Velpic has struck a deal to sell its primary business to Damstra Technology for about $3.8 million, weeks after most of its staff were made redundant.

Otto raises $20m

Otto Energy has tapped investors for $20 million, with the proceeds set to be spent on drilling programs across the company’s projects.

Most CommentedView all

Tourism isn’t rocket science

Opinion: A more creative approach is required if the state’s weak spots on tourism are to be overcome.

SAT sides with Como Hotel developer

Woolworths subsidiary ALH Group has had a win in the State Administrative Tribunal this week over its plans to develop a Dan Murphy's liquor store as part of its Como Hotel redevelopment, following a multi-year saga involving liquor licensing and the City of South Perth.

International students bypass WA

South Australia is giving Western Australia a run for its money in the race to attract international students.

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.

Supreme Court rules on broken soap dish

It may seem a trivial matter, but a recent Court of Appeal ruling on who was responsible for maintaining the shower recess in a $1,700 per week rental property should be of keen interest to many landlords and insurers.

Politics & the EconomyView all

WA wages beat inflation

Western Australia continues to have the slowest nominal wages growth in Australia, with the latest data showing growth of 1.5 per cent, slightly ahead of local inflation at 1.1 per cent.

No leadership challenge for WA Libs leader

Opposition leader Mike Nahan insists he'll lead the Liberals to the next state election and says he has the overwhelming support of his colleagues, rejecting reports confidence in him is wavering.

Big companies seen as big winners: Ceda poll

Western Australians overwhelmingly believe the big end of town has been the major beneficiary of the country’s unprecedented run of growth over the past 26 years, a poll released today has found.

Perth slips in liveability rankings

Perth has dropped out of the top 10 in a world liveability index compiled by The Economist, after falling seven places in 2018.

By-election strategy riles Libs

The Liberals’ decision not to contest two recent by-elections was a defensive move that puts the party on the back foot in those seats ahead of the next federal poll.

PropertyView all

New land sales rise again

New land sales in Perth have increased for the third straight quarter, according to new data out today, with the Urban Development Institute of Australia WA saying the results reflect rising confidence in the local market.

Brokers building a better process

From a reputational point of view, Tristan Kirkham acknowledges the role played by building brokers is not as well understood as that of insurance and mortgage brokers.

Office facelifts shape success

Construction company SHAPE Australia has ridden the surge in office building revamps, resulting in two awards and its highest revenue in five years.

Pindan expands to Gold Coast

Pindan is set to expand its operations to the Gold Coast, after being granted development approval for a 25-storey apartment building.

Brewer to head Property Council

Former National Lifestyle Villages marketing general manager Sandra Brewer has been named the Property Council of Australia’s new Western Australian executive director.

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

Collaboration key for niche art works

Rick Vermey has been creating art since childhood, and recently found a niche producing integrated public works.

Grants for WA not-for-profit groups

Anglicare WA and UnitingCare West are among eight not-for-profit organisations nationally to have secured financial backing from Community Sector Banking, which has distributed $300,000 through its 2018 national grants pool.

Ned Kelly provides opportunity for AGWA

The Art Gallery of WA has welcomed an exhibition of works by Sidney Nolan in partnership with the National Gallery of Australia, providing an opportunity to showcase an existing historical collection of art.

Perth Festival primed for 2019

Perth Festival has released the first taste of its 2019 program, one day after festival sponsor Adrian Fini won a national award for his philanthropic work.

Restaurants pitch in to help homeless

Restaurants in the Brookfield Place precinct have combined resources in support of the annual Homeless Healthcare Soup Kitchen fundraiser.

EnergyView all

Nahan commits to electricity competition

State opposition leader Mike Nahan has locked in part of his party’s energy policy early in the election cycle, pledging on the weekend to allow competition in retail power markets if his party wins the 2021 election.

APA accepts $13bn offer from CKI

The board of APA Group has accepted a $12.98 billion takeover offer from a consortium led by Hong Kong's CK Infrastructure (CKI), in a deal that will see major gas pipelines in WA sold to a new owner.

NEG approved by states, questions remain for WA

States and territories have signed up to the federal government's proposed National Energy Guarantee today, and it will have a big impact on Western Australian industry despite the state not being part of the National Electricity Market.

Slow growth in WA for AGL

Sydney-based energy supplier AGL Energy has continued its slow growth in to the WA market, with its annual results revealing it had secured 21,000 gas customers locally by the end of June.

Zenith in $40m debt facility

Zenith Energy has completed a $40 million issue of subordinated debt notes through FIIG Securities, with the proceeds to be used for refinancing existing debt, capital expenditure and acquisitions.

"Mark My Words" PodcastsView all

10 August 2018

Podcast: Mark Beyer and Matt McKenzie discuss a newly created Business News database with details of more than 140 major projects, Carnarvon Petroleum, York Civil, RCR Tomlinson, Tourism, International education, energy policy, a record grain harvest, and WA’s tech sector leaders.

03 August 2018

Podcast: Mark Beyer and Matt McKenzie discuss the WA Club, Subiaco Pavilion Markets, two hotels changing hands, house prices, Andrew Forrest's philanthropy, WA's award winning wineries and our special report on small business.

27 July 2018

Podcast: Mark Beyer and Mark Pownall discuss lithium's $2 billion plus expansion, iron ore revival continues, Charlie Bass, digital health, Brendan Gore, and our oil and gas features reveals 15 projects.

20 July 2018

PODCAST: Mark Beyer and Mark Pownall discuss positive signs in the property market, new mining and gas projects, a 'staggering' oil discovery, and our annual review of WA's arts companies.

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.

Food & WineView all

Liquor licensing reforms take effect

State government reforms that liberalise the rules governing permanent licensed premises but tighten up on pop-up venues come into effect this weekend, as new data shows 114 licensed premises have opened in Western Australia this year.

Gage secures nib Stadium supply deal

Gage Roads Brewing Company has won a five-year beer and cider supply contract with nib Stadium, adding to a similar deal with Optus Stadium.

Patience, provenance key ingredients for Yarri

Six months after Dunsborough restaurant Yarri opened to much fanfare, we talk to the team behind the venture about their long-term strategy.

New Northbridge venue shuts down

Northbridge restaurant and microbrewery Cyril Mason’s has closed its doors less than three months after opening at the William Street location.

WA tops Halliday wine awards

Great Southern wine producer Duke’s Vineyard and Deep Wood Estate’s Julian Langworthy have topped the prestigious Halliday Wine Companion Awards announced in Melbourne last night.

Special ReportsView all

Technology Innovators 2018

Technology Innovators 2018

13 August 2018

Who are the WA market leaders?

Tech leaders slowly emerge
Progress made on submarine cables
Oil & Gas 2018

Oil & Gas 2018

30 July 2018

Fifteen projects under way or planned as sector turns.

Expansion plans get energy sector pumping
Cha play buoyant FLNG role
Staff cuts add to red tape concerns
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

MiningView all

Murray to retire from Gold Road

Gold Road Resources has announced the retirement of long-standing chief executive Ian Murray, with former AngloGold Ashanti general manager Duncan Gibbs set to take the reins.

MinRes posts $272m profit

Chris Ellison-led Mineral Resources has posted a big increase in profit to $272 million for the 2018 financial year, helped by a strong performance in the company’s mining services division.

Ausdrill in $272m Barminco buy, raises $250m

Ausdrill has announced its first major acquisition since the retirement of founder Ron Sayers last month, with the company set to purchase mining services contractor Barminco in a cash and scrip deal worth $271.5 million, while also announcing a $250 million capital raising.

Tempus set for ASX debut after $5m IPO

Copper-focused Tempus Resources is set to list on the ASX tomorrow, after the company raised $5 million via an initial public offering.

Hunt appointed to chair Bis

Resources logistics company Bis has appointed former Broadspectrum chief executive Graeme Hunt as its new chairman to replace the retiring Charles Lenegan, while non-executive director John Beevers is also retiring.

OpinionView all

Winning play on home turf

Opinion: Home-ground advantage works for sports teams, and it can work for your business, too.

Mark my words podcast

Podcast: Mark Beyer and Matt McKenzie discuss a newly created Business News database with details of more than 140 major projects, Carnarvon Petroleum, York Civil, RCR Tomlinson, Tourism, International education, energy policy, a record grain harvest, and WA’s tech sector leaders.

Targets are fine, just not on your back

Sustainable growth based on realistic projections and outcomes can help business avoid the pitfalls some in the timber and wine sectors have experienced.

Mark my words podcast

Podcast: Mark Beyer and Matt McKenzie discuss the WA Club, Subiaco Pavilion Markets, two hotels changing hands, house prices, Andrew Forrest's philanthropy, WA's award winning wineries and our special report on small business.

Tourism isn’t rocket science

Opinion: A more creative approach is required if the state’s weak spots on tourism are to be overcome.

RetailView all

Bunnings UK savages Wesfarmers profit

Wesfarmers has suffered a 58 per cent drop in full-year net profit after taking more than $1.3 billion in costs and losses on its disastrous Bunnings UK exit and a $300 million write-down on underperforming Target, while also announcing leadership changes at its department stores.

Wesfarmers in $350m KTAS sale

Wesfarmers has struck a deal to sell its Kmart Tyre and Auto Service (KTAS) business to German company Continental AG for $350 million.

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.

Bulls N' BearsView all

Bulls N' Bears

Former WesTrac chief to chair Australian Potash

ASX listed Australian Potash has appointed former WesTrac Managing Director and well knoen Perth businessman Jim Walker as its Non-Executive Chairman to help develop marketing and financing relationships. Former Executive Chairman Matt Shackleton has been appointed the company’s Managing Director. Australian Potash expects to release a definitive feasibility study for its Lake Wells potash project in 2019.

Hammer knocks out 36% copper rock chips in Qld

Hammer Metals’ consulting geologist Ziggy Lubieniecki has discovered four new copper-gold prospects in Queensland’s Mount Isa region that have returned some amazing rock chip assays of up to 36% copper and 6.8 grams per tonne gold. 56 of the 100 rock chip assays from the Spiros and Paddy B prospects returned copper values of more than 1% copper.

Tyranna kicks off drilling at Eureka gold play

Tyranna Resources has announced it is about to kick off a resource development drill program at the Eureka gold project north of Kalgoorlie, after acquiring the historic project outright earlier this month. The work will lead to the estimation of a JORC compliant mineral resource later this year. The company will then instigate a feasibility study to evaluate the opportunity for mining and toll-treating the ore.

St George hits 8.6% nickel and 2.6% copper in Leonara

St George Mining’s new step-out drill hole near Leonora looks to have hit the goods after intersecting high grade nickel-copper sulphides in the eastern section of the Investigators Prospect at the Mt Alexander Project near Leonara. Portable XRF readings show up to 8.6% nickel and 2.6% copper. A down-hole electromagnetic survey will assist in identifying the extent of the massive sulphides around the drill hole.

Ounce to the tonne soils in PNG for Geopacific

Geopacific Resources has discovered some seriously high grade gold and copper anomalies from soil sampling at its Woodlark project in PNG. Samples of up to 32g/t gold and 1.4% copper were returned from soils across several mineralised corridors in the southern region. At Loluai, soil values peaked at 0.56% copper and 0.79g/t gold, whilst at Norac, soil values peaked at 0.97% copper in a 3 square kilometre corridor.

Thought LeadershipView all

Cyber Villains and Heroes: the quest for a cyber-secure future.

The Cyber Security Review, led by the Department of the Prime Minister and Cabinet, found that cybercrime costs the Australian economy up to $1 billion annually. According to the U.S.

No point going back to the future, we’re in it!

Do you use Siri on your iPhone? Own a smart vehicle? Used the on-line pop-up helper on the ATO or a similar website?

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.