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

21 Feb 2019

Western Australia’s unemployment rate has spiked to a 17-year high, at 6.8 per cent in seasonally adjusted terms, while the national numbers held steady.

Mineral Resources

MinRes slumps on lower profit

21 Feb 2019

Shares in Mineral Resources fell sharply early today befor recovering some lost ground, after the company reported an interim net profit of $13 million, due in part to an unrealised loss on its stake in Pilbara Minerals.

Qantas

Qantas hands back $305m despite profit dip

21 Feb 2019

Qantas will launch a fresh $305 million buyback despite first-half profit falling 16.3 per cent to $498 million on a big jump in fuel costs.

Wesfarmers

Wesfarmers shareholders to receive $1bn special dividend

21 Feb 2019

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.

Santos

Santos more than doubles FY profit

21 Feb 2019

Santos, Australia's second largest independent gas producer, has reported a more than doubling in full-year underlying profit following the acquisition of Quadrant assets and higher realised prices for its oil and gas.

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Corporate Finance DealsView all

AIC Resources

AIC and Intrepid strike new merger deal

Adrian Rauso

20 Feb 2019

Intrepid Mines and AIC Resources have agreed to a revised merger deal, less than three weeks after Intrepid’s initial attempt to acquire the Subico-based gold junior lapsed.

Mareterram

Sea Harvest fishes for takeover of Mareterram

05 Feb 2019

South Fremantle-based seafood company Mareterram has backed a takeover offer from its largest shareholder, Sea Harvest.

Healthscope agrees $4.5bn Brookfield buyout

AAP Business News

01 Feb 2019

Healthscope has agreed to a $4.5 billion takeover by Canadian investment firm Brookfield, despite rival bidders suggesting they could increase their offer.

RCR Tomlinson

NRW buys RCR businesses for $10m

31 Jan 2019

Belmont-based contractor NRW Holdings will purchase the mining and heat treatment businesses of RCR Tomlinson for $10 million.

Unique Metal Works

Wangara business buys RCR Laser

29 Jan 2019

Unique Metal Works is set to double in size after striking a deal with the administrators of RCR Tomlinson to purchase its laser business, which employs about 200 people.

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Galleria Shopping Centre

$500m Galleria expansion deferred

15 Feb 2019

The long-anticipated expansion of Galleria Shopping Centre in Morley has been deferred, just days after receiving final planning approval, though its co-owner has committed to a $63 million expansion of Ellenbrook Central.

Baileys Group

Discovery launches Rottnest glamping

Property Council of Australia

18 Feb 2019

Rottnest’s first new accommodation in 30 years was officially launched last week, with a $25 million glamping site set to open to the public in March.

Developers line up for Perth’s next office opportunity

15 Feb 2019

Developers across Perth’s CBD are positioning themselves to ride the city’s next wave of office development, with options for tenants with large space requirements becoming scarce despite an overall vacancy rate of 18.5 per cent.

Monadelphous

Monadelphous, Clough win South Flank contracts

18 Feb 2019

Monadelphous has secured a $108 million contract on BHP Group's South Flank project, while Clough has won its second contract on the same development. The two contracts will create 700 jobs at South Flank, the largest project underway in WA.

RCR Tomlinson

RCR’s remaining WA assets sold

Adrian Rauso

15 Feb 2019

The sale of RCR Tomlinson’s Western Australian operations is complete, with RCR Resources, RCR Power and RCR Water West sold to AvidSys Group for an undisclosed sum.

Politics & the EconomyView all

WA unemployment spikes to 17-year high

21 Feb 2019

Western Australia’s unemployment rate has spiked to a 17-year high, at 6.8 per cent in seasonally adjusted terms, while the national numbers held steady.

Electorate of Curtin

Ex-minister Julie Bishop to retire

Urban Development Institute of Australia WA

21 Feb 2019

Former foreign minister Julie Bishop has declared she is retiring from federal parliament at the next election, about six months after she left the role in the aftermath of a leadership spill.

Rates forecast of 0.5%

Western Rock Lobster Council

15 Feb 2019

There will be a big reduction in the Reserve Bank of Australia’s official cash rate in the next year or two, according to investment analysis Jonathan Pain.

Government compromises on rock lobster plan

Adrian Rauso

08 Feb 2019

The state government and the Western Rock Lobster Council have reached a comprise on the future of the industry, with the annual catch to increase by just 315 tonnes. However, details of how this will be delivered to the local market have not yet been worked out.

Julie Bishop declares intention to run for Curtin

07 Feb 2019

Former foreign minister Julie Bishop says she intends to stand for her seat again at the coming election and has given her backing to Prime Minister Scott Morrison.

Upcoming Business News EventsView all

Treasury Breakfast

Hyatt - 28 February 2019

PropertyView all

Gemmill Homes

Action urged on housing pain

20 Feb 2019

Pressure is mounting in WA’s residential construction sector, with insolvencies piling up amid sustained falls in building activity.

Finbar Group

Finbar upbeat as Vue, Palmyra near completion

20 Feb 2019

Apartments developer Finbar Group is poised for a strong performance in the second half of the 2019 financial year, forecasting a solid uplift on its first-half net profit of $1.89 million with the expected completion of its Vue Tower and the first stage of the Palmyra Apartment Estate.

Stockland

Stockland shares slump as profit slides

20 Feb 2019

National property development company Stockland Corporation has reported a decline in half-year funds from operations and warned of weaker full-year results due to a steep decline in the residential property market.

MGroup

M/Group buys Queensland shops for $36m

19 Feb 2019

Diversified property company M/Group has expanded its portfolio into Queensland through the $36 million, off-market acquisition of Pialba Place Shopping Centre in Hervey Bay.

Hawaiian

New homes role for Hawaiian’s O’Hara

19 Feb 2019

Former BGC Australia Residential boss Kelvin Ryan is bringing a distinct Western Australian flavour to his role as managing director of Victorian homebuilder Simonds Group, signing prominent Perth property executive Kate O’Hara to head the company’s marketing operations.

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.

23 Feb 2019 | @ 06:00am

MSWA Albany Ride

23 Feb 2019 to 24 Feb 2019 | @ 08:30am

Agrifoods Emerging Entrepreneurs

23 Feb 2019 | @ 06:30pm

Master Builders-Bankwest Housing Excellence Awards

24 Feb 2019 | @ 06:00pm

'On Sacred Ground' Screening & Talk

25 Feb 2019 | @ 05:45pm

A big Business was once a small business - It just marketed itself better!

26 Feb 2019 | @ 09:00am

Instagram Marketing - Hashtags, Content & Growth [MASTERCLASS]

26 Feb 2019 | @ 09:00am

PERTH WA - (Fremantle) Online Security & Data Privacy for Small Business (Beginner)

26 Feb 2019 | @ 10:00am

PERTH WA (North Beach) - LinkedIn Masterclass (Skilled/Advanced)

26 Feb 2019 | @ 10:45am

The Social and Economic Sustainability of WA’s Rural Volunteer Workforce

26 Feb 2019 | @ 05:30pm

Carbon Group Presents: Becoming a Kick-Ass Speaker

Arts & CommunityView all

EON Foundation

Funding feeds good food growth

15 Feb 2019

Perth-based EON Foundation is growing its food and nutrition programs in remote communities.

McGees Property

Sunset to become cultural precinct

13 Feb 2019

The Sunset Hospital site on the riverfront in Dalkeith will become a cultural and creative precinct, with Culture and Arts Minister David Templeman today announcing an expressions of interest process.

Rio Tinto

Kimberley art pays off for artists, Rio

Ochre Contemporary Dance Company

08 Feb 2019

The curators and sponsors of the Desert River Sea: Portraits of the Kimberley exhibition at the Art Gallery of WA are hopeful the more than 150 pieces on display will challenge and broaden the public’s perception of Aboriginal art.

Regional route a funding play

01 Feb 2019

Having spent years working overseas in Europe and the UK, director and lighting designer Mark Howett is acutely aware of the need for art to appeal far beyond its own cultural base.

MSWA

Stafford drives growth at MSWA

31 Jan 2019

Neurological services provider MSWA has undergone substantial growth in the past 10 years, working towards reliance on private revenue sources.

Featured PhotographsView all

Fremantle Ports

Hadiqa Moroccan Restaurant & Bar at Hibernian Place

Meeting room and rooftop

Success & Leadership breakfast with Chris Sutherland, Programmed

Element office kitchen

The Melbourne Hotel

Conservatory

Riff powered by SpaceCubed

Riff powered by SpaceCubed

Sculpture By The Sea 2018

EnergyView all

$8.8 million regional power rollout

21 Feb 2019

The state government has today announced the rollout of $8.8 million of stand-alone power systems, with Perth-based companies Hybrid Systems and BayWA r.e Solar Systems to lead the first stage of deployment.

Santos

Santos more than doubles FY profit

21 Feb 2019

AGL Energy

AGL increases WA customers by 57%

AAP Business News

07 Feb 2019

AGL Energy has continued its growth in the Western Australian gas market, revealing it had approximately 33,000 customers by the end of 2018, a rise of 12,000 from six months prior.

Gold Fields

Granny Smith to go solar

05 Feb 2019

Gold Fields has awarded Aggreko a contract to construct and operate a microgrid with 20,000 solar panels and battery storage, which will be integrated with the existing natural gas power supply to reduce fuel consumption at the Granny Smith gold mine near Laverton.

APA Group

APA's Badgingarra wind farm producing power

25 Jan 2019

Electricity has started flowing from APA Group’s Badgingarra wind farm in recent days, while two of the state’s major coal generating units have been powered down due to low demand.

"Mark My Words" PodcastsView all

15 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss a tourism business sale, Airbnb, Vicinity Centres, Galleria Shopping Centre, future CBD development opportunities, infrastructure priorities, and our special report on ports and transport.

08 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss the banking royal commission fallout, private schools, Graham Griffiths' passing, export data, office vacancies, Architectus and our 25th anniversary event

01 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss house prices, RCR sell-off, Zhenya Tsvetnenko, Optus Stadium, lithium strategy, big miners back Indigenous campaign, The Simpsons, and our special report on the big risks to WA.

25 January 2019

PODCAST: Mark Pownall, Mark Beyer and Dan Wilkie discuss Dale Alcock and Adrian Fini, South Perth development, house market sentiment, Infinite Energy, Wright Prospecting’s financials, Kinetic IT, and our special report on major WA private companies.

18 January 2019

PODCAST: Mark Pownall and Mark Beyer discuss Woodside projects, Heath Development, Navitas, rising philanthropy and our special report on WA’s biggest deals and dealmakers.

Food & WineView all

Bar De Halcyon

Evolving the offering a priority for Perth publican

Gage Roads Brewing Company

07 Feb 2019

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

01 Feb 2019

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.

Chevron

New Normal for restaurant waste

29 Nov 2018

A small bar in Subiaco is demonstrating the benefits to business of developing more efficient waste management practices.

WA Insolvency Solutions

New owner for Beach Bar

Shire of Augusta-Margaret River

16 Nov 2018

Scarborough Beach Bar has been thrown a lifeline, with insolvency specialist WA Insolvency Solutions selling the company to hospitality operator the ARK Group, which currently operates venues including The Generous Squire and Market Grounds.

Settlers Tavern finds growth formula

Cassandra Charlick

06 Nov 2018

Never settling for second best, a hardworking couple has spent the past 15 years transforming Margaret River’s local pub, Settlers Tavern, into a venue of national note.

Special ReportsView all

Ports & Transport 2019

18 February 2019

Westport among $18bn of projects, but timing uncertain

Risks to WA

04 February 2019

Concern over China, skills shortages, politics

All eyes on China amid slowing global trade

Matt Mckenzie 04 Feb 2019

Project pick-up puts pressure on skills

Matt Mckenzie 04 Feb 2019

Business, investors count down to key poll

Matt Mckenzie 04 Feb 2019

Private companies 2019

29 January 2019

The latest update to the BNiQ listing of Western Australia's largest private companies has once again highlighted major shifts in economic activity.

Iron ore boosts private companies

Mark Beyer 29 Jan 2019

Kinetic IT keeps it private

Mark Beyer 29 Jan 2019

Corporate finance 2018

21 January 2019

Annual review of WA deals and outlook

Goldman, Freehills top deal tables

Mark Beyer 21 Jan 2019

Cutting through tech funding maze

Mark Beyer 21 Jan 2019

Lithium, gold and base metals driving deals

Dan Wilkie 21 Jan 2019

Aged care

17 January 2019

Fast-growing sector under scrutiny

Aegis, Juniper lead aged care growth

Delia Price 17 Jan 2019

Property slump playing role in retirement plans

Delia Price 17 Jan 2019

Fear, loathing and hope for commission

Delia Price 17 Jan 2019

MiningView all

Ausdrill

Ausdrill profit surges nearly 33%

21 Feb 2019

Ausdrill has announced a strong first-half result, which the company attributed to its acquisition of Barminco.

Mineral Resources

MinRes slumps on lower profit

21 Feb 2019

Kalium Lakes

Another miner wins infrastructure funding

Madeleine Stephens

20 Feb 2019

Kalium Lakes is a step closer to starting construction on its Beyondie potash project near Newman after receiving $74 million in funding, making it the latest in a string of mining companies to win financial backing from the Northern Australia Infrastructure Facility.

NRW Holdings

NRW, Seven Group lift earnings

20 Feb 2019

Shares in NRW Holdings and Seven Group Holdings were stronger today after reporting improved earnings on the back of strong resources and infrastructure markets, with NRW adding its first interim dividend in five years.

Fortescue Metals Group

Fortescue lifts dividend payout

20 Feb 2019

Fortescue Metals Group has reported a 5 per cent dip in half-year profit, but blew past estimates as it won higher prices for its iron ore, pushing its shares to a two-year high.

Current IssueView all

Issue for 18 Feb 2019 to 03 Mar 2019

Issue for 04 Feb 2019 to 17 Feb 2019

Issue for 21 Jan 2019 to 03 Feb 2019

Book of Lists 2019

Issue for 17 December 2018 to 20 January 2019

OpinionView all

State shaking off sick-man status as fertile seeds sown

Tim Treadgold

19 Feb 2019

OPINION: While not all WA’s economic indicators are pointing in the right direction, there’s plenty of cause for optimism, particularly in the minerals and agriculture sectors.

Business News marks 25 years at cutting edge

Mark Pownall

15 Feb 2019

The media is like any other business, where adapting to consumer needs is the only way to survive.

Mark my words podcast

Mark Pownall

15 Feb 2019

Coles

Retail reels as net closes in

Tim Treadgold

12 Feb 2019

OPINION: This reporting season will most likely deliver some uncomfortable news for the retail sector.

Payroll tax cut will help jobs

Peter Kennedy

11 Feb 2019

OPINION: Nearly two years in, Mark McGowan is finding it tougher in government to realise a key poll promise to create more jobs in WA.

RetailView all

Wesfarmers

Wesfarmers shareholders to receive $1bn special dividend

21 Feb 2019

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.

Woolworths

Woolies dips on 'below expectation' profit

20 Feb 2019

Woolworths shares have taken a knock after the supermarket giant reported a disappointing first half and flagged subdued consumer spending for the foreseeable future.

Coles

Coles sales slow, restructure costs weigh

19 Feb 2019

Coles' supermarket sales slowed during the run-up to Christmas, while the newly demerged retailer's first-half profit slipped 29 per cent to $381 million as restructuring costs weighed on the balance sheet.

Deloitte

Super Retail to repay $32m in unpaid hours

12 Feb 2019

Rebel Sport owner Super Retail Group is set to repay six years' worth of unpaid overtime and allowances to retail managers in an expected $43 million pre-tax hit to first-half earnings.

JB Hi-Fi lifts H1 profit 5.5% to $160m

Property Council of Australia

11 Feb 2019

JB Hi-Fi has lifted first-half profit 5.5 per cent to $160.1 million despite volatile holiday trading for the electronics and home entertainment retailer.

SkylineView all

Property Council cautiously backs noise reforms

Tayler Neale

20 Sep 2018

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.

BGC Australia

Hibernian Place tops UDIA awards

17 Sep 2018

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.

CBRE

Regus takes space at new Raine Square office

Peter Kermode

14 Sep 2018

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Linc Property

Access key at Linc industrial estate

Peter Kermode

12 Sep 2018

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

Sirona Capital

The Village Margaret River on the market

Peter Kermode

05 Sep 2018

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

Northern Minerals

Northern Minerals ramps up rare earths production

21 Feb 2019

Northern Minerals is ramping up rare earths output at its Browns Range pilot plant in the East Kimberley region of WA to steady state levels to assess the quality of the rare earth carbonate produced. Data collected from the production of 7.2 tonnes of rare earth carbonate to date has provided the company with a better understanding of its ability to produce rare earths at the required specification.

Great Southern Mining

Great Southern to fast-track gold drilling in WA

21 Feb 2019

Great Southern Mining has stepped on the gas and will fast-track a program of infill and extensional drilling at its emerging Mon Ami gold project near Laverton in the north eastern Goldfields region of WA. The work aims to rapidly expand the current 59,000 ounce resource by drilling down-dip to the west, down-plunge to the north and along strike up to 1km south of the existing resource.

Lithium Australia

Lithium Australia grows spodumene processing tech

21 Feb 2019

Lithium Australia has initiated the next stage of development for its LieNA spodumene processing technology after preliminary R&D showed that further work on the process was warranted. The process seeks to recover lithium from spodumene without the need for expensive, energy-hungry roasting by using a caustic solution to leach the lithium from spodumene and recover it as lithium phosphate.

Pilbara gold resource update on the cards for Novo

21 Feb 2019

Canadian conglomerate gold specialist Novo Resources has reported encouraging and consistent gold grades averaging 2.55g/t from a regional, bulk sampling program at its Beatons Creek gold project near Nullagine in WA. The current mineral resource sits at 8.38 million tonnes grading 2.47g/t gold for 667,000 ounces and will be updated this quarter using the bulk sampling results and a new 3D geological interpretation.

Caravel Minerals

Caravel drills 202m wide copper zone in the Wheatbelt