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

Corporate Finance DealsView all

Red 5 in $4m takeover bid

Gold junior Red 5 has announced a hostile $4 million takeover bid for unlisted public company Bullseye Mining, which owns tenements near Red 5’s Darlot gold mine.

Finders takeover offer unconditional

Finders Resources’ major shareholder, Eastern Field Developments, has changed its hostile takeover bid for the copper miner to 'unconditional' status, with the Indonesian consortium continuing to raise concerns about the company’s Wetar project.

Junior miners raise $30m

Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London’s AIM.

Scarborough tipped as next big LNG development

A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.

Prospect reprices raising

Lithium hopeful Prospect Resources has repriced its recently announced $10 million capital raising, with last week’s slump in the stock market forcing the company to drop the proposed share price.

Most CommentedView all

WA building approvals down, Perth unaffordable

Building approvals in Western Australia have dropped to the lowest levels in 16 years, according to the latest figures from the Australian Bureau of Statistics, while a new housing affordability survey has labelled the Perth housing market ‘severely unaffordable’.

Western Force could get a lifeline in 2021

New Rugby Australia chief executive Raelene Castle has left the door ajar for the Western Force to return to the fold in 2021, but the Indo Pacific Rugby Championship remains in limbo.

Cooper & Oxley on the brink

Cooper & Oxley Builders, which is one of the 10 largest construction companies in Perth, has suspended work on its projects while it reviews its financial viability.

Investors focus on Quintis projects

The Quintis insolvency could play out very differently from other failed agribusiness investment schemes.

Labor banking on stadium success

Mark McGowan will hope to bask in the warm afterglow of ongoing public approval of the new stadium at Burswood.

Politics & the EconomyView all

Oil hits 2wk high on equities recovery

Oil prices have hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising US production tempered gains.

Oil gains on equities rebound, weak $US

Oil prices are higher as a rebound in the global equities market and a weak US dollar supported crude's recovery from last week's slide.

Gold slips but sight set on 2.4% week rise

Gold prices have dipped, but still hovered near a three-week high, as the US dollar index bounced from a three-year low and investors worried that US inflation could heat up.

Beer, spirit producers to win from red tape cut

Cutting red tape for wineries, breweries and distilleries, and changes to procurement laws to favour local businesses were two measures to support economic recovery highlighted by Premier Mark McGowan at a Business News Success & Leadership breakfast this morning.

Company tax does affect investment: RBA

The head of the Reserve Bank has warned any corporate tax cut in Australia cannot come at the expense of higher budget deficits, adding that recent cuts to business taxes in the US are problematic.

Upcoming Business News EventsView all

Crown Ballroom, Crown Perth - 07 March 2018

PropertyView all

MRA approves new Scarborough apartments

Perth-based developer Norup + Wilson’s latest project The Beach Shack, a 99-apartment development in Scarborough, has been given the green light by the Metropolitan Redevelopment Authority.

Foreign investor eyes student accommodation opportunities

Singaporean company Wee Hur Holdings is set to join Perth’s wave of student accommodation developments, following today’s announcement it has recruited Sydney-based Intergen Property Group as the fund’s onshore investment manager with a $700 million mandate to find new development opportunities across Australia.

Dexus plans $165m office revamp

Commercial property owner Dexus has budgeted to spend $165 million on 240 St Georges Terrace, with works to commence in 2019 following the departure of the building's largest tenant Woodside.

Growth in land sales, prices

Signs of recovery across Perth’s property market continue to emerge, with the latest figures from the Urban Development Institute of Australia showing land sales were up 4 per cent for the December 2017 quarter.

Buckeridge property sells for $43m

Singapore-listed OKP Holdings has made its first foray into Australia, via the purchase of an East Perth property for $43.5 million from BGC directors Andrew and Sam Buckeridge.

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

Club Swizzle wows Fringe crowds

PHOTO ESSAY: If Fringe World had a headline act, Club Swizzle would likely be it.

Yeoman writes fresh festival

This year marks a changing of the guard at the Perth Writers Festival, with Katherine Dorrington stepping down as program manager and The West Australian’s literary editor, William Yeoman, stepping in to curate the festival in a guest capacity.

CEO lunch with Jody Nunn

Working under strong, effective leaders has had a profound impact on the career of AICD state manager, WA Jody Nunn.

Books aren’t back, they never left

WA book publishers, retailers and authors have adapted to the threat of digital disruption and shown there’s plenty of life in the business model.

Ballet dances Dreamtime

Collaboration is key for the launch of the West Australian Ballet’s 2018 season, as ballerinas and indigenous dancers come together to perform the contemporary work Milnjiya, while opera singer Deborah Cheetham provides support with a score of traditional indigenous sounds.

EnergyView all

Green China opportunity for WA

Opportunities will grow in the environmental protection and energy efficiency space for Australian exporters as China looks to go greener, according to Chinese deputy consul general Anlin Sun.

Positive return for Paladin

Uranium miner Paladin Energy made a positive return to the ASX today following a tumultuous period during which it announced a recapitalisation deal that left shareholders with 2 per cent of the company’s equity.

Origin predicts growth in WA as more entrants come

Sydney-based Origin Energy has signed up close to 5,000 Western Australian retail gas customers since launching in the Perth market in October.

Carnegie JV in $7m solar win

Carnegie Clean Energy’s joint venture with contractor Lendlease has won its second contract in a week, with the partnership to design, construct and operate a $7 million solar project in NSW.

Simply Energy to enter Perth gas market

An east coast energy retailer backed by a French multinational will become the fifth player selling to consumers in the local gas market, after receiving approval by the Economic Regulation Authority today.

"Mark My Words" PodcastsView all

16 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss McGowan’s first year, Perth Modern School, Scarborough LNG, cryptocurrency and blockchain, Pilbara Minerals and junior mining.

09 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss market volatility, Cooper & Oxley, Bunnings, infrastructure WA, Ron Sayers, Kelvin Ryan, and musical chairs in Perth’s law firms.

09 February 2018

Working under strong, effective leaders has had a profound impact on the career of AICD state manager, WA Jody Nunn.

02 February 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss house prices – up or down? CBD office vacancies, residential building volatility, AWE bidding war, Quintis update, mining robots, Adventure World and ports and transport.

25 January 2018

PODCAST: In this Business News podcast Mark Pownall, Matt Mckenzie, and Katie McDonald discuss the Quintis collapse, Wheatstone’s environmental conditions, Doric’s Chinese joint venture, wage gap battle, Fringe festival and land developers.

Food & WineView all

Liquor reforms drive change for tourism

State government agency Tourism WA will have greater input into decisions on liquor licence applications, after Premier Mark McGowan today announced a series of regulatory reforms and red tape cuts.

Supply potential for organic wines

The state’s organic wine market may be small but its product is in strong demand, according to local wine producers, with Blind Corner among a handful of growers planning to expand local operations and export activity.

Brand focus Jus the first step

Bert Giancristofaro will play to the strengths of the Jus Burgers brand after taking ownership of the business last year, with his immediate priority being store refits and fine-tuning the customer experience.

Bullish franchises plan to expand

SPECIAL REPORT: Whether it’s burritos, car repairs or mortgage advice, a number of big franchises are targeting growth in 2018.

Increasing appetite for loyalty

Fraser’s Kings Park is among the early takers for a new program aiming to bring loyalty back to Perth’s food scene.

Special ReportsView all

Legal services

Legal services

12 February 2018

Partners moving across town

Law partners make their moves
Land developers 2018

Land developers 2018

29 January 2018

WA players banking on a brighter year

Developers sense a shift in sentiment
Acquisitions fuel Urban growth
Managing infill-greenfield mix
Corporate Finance 2017

Corporate Finance 2017

15 January 2018

Local dealmakers pursue opportunities

New players chasing finance deals as opportunities align
BDO buys corporate advisory firm

MiningView all

Bass back with Eagle raising

SPECIAL REPORT: Four years after exiting the iron ore sector near the top of the boom, Charlie Bass has teamed up with a pair of experienced company directors for a new mining float.

Buzz builds over battery metals

SPECIAL REPORT: The strength of the battery metals industry is helping drive the state’s junior resources sector.

Imdex posts strong half-year results

Shares in mining equipment supplier Imdex have jumped 8.3 per cent today after the company announced a half-year profit of $10.6 million, with revenue up 28 per cent on the corresponding period last year.

Bald Hill to ship by end of quarter

Lithium hopeful Tawana Resources has commenced commissioning of the Bald Hill mine.

Explaurum raises $8m for Tampia

Brisbane-based gold hopeful Explaurum has raised $8.3 million to progress its Tampia gold project in Western Australia's Wheatbelt.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss McGowan’s first year, Perth Modern School, Scarborough LNG, cryptocurrency and blockchain, Pilbara Minerals and junior mining.

The ‘stall’ is your golden opportunity

The more prepared you are for a knockback, the better the chances it won’t derail the sale.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss market volatility, Cooper & Oxley, Bunnings, infrastructure WA, Ron Sayers, Kelvin Ryan, and musical chairs in Perth’s law firms.

Barnett back to beat GST drum

Although now far from the political spotlight, Colin Barnett has warned of significant upheaval if the GST mess isn’t sorted out.

Award an act of generosity?

This year’s Australia Day honour’s list includes a name familiar to many in WA, but the timing seems odd.

RetailView all

Cashies delivers on profit expectation

Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.

Yowie tumbles on US competition

Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.

Myer CEO pushed out the door

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

JB Hi-Fi shares slump on margin warning

JB Hi-Fi shares have slumped despite a big lift in first-half profit, after the home electronics and entertainment retailer warned of margin pressures and issued lower-than-expected guidance.

Myer shares dive after new profit warning

Solomon Lew is calling on fellow Myer shareholders to "save the company" with a board spill after shares in the troubled retailer plummeted to a fresh all-time low on the back of its latest profit warning.

Most viewed people

Peter Harris

Peter Harris

Former Executive Director (since 2012)
(MD 2005-2012), PPR
Former Director, Small Business Development Corporation
Former Media Adviser, Department of the Premier and Cabinet

David Sproule

David Sproule

Non-Executive Director, Southern Cross Goldfields
Non-Executive Director, KIN Mining

Sam Buckeridge

Sam Buckeridge

Director, BGC Australia
Director, BGC Contracting

Alan Thomas

Alan Thomas

Director, Armada Accountants &
Advisors

Thought LeadershipView all

Embracing uncertainty on the road to new ways of working

With 30 years of experience in the finance industry and over 15 of those in leadership roles I, like most leaders, would like to think I’ve adapted to and have been able to embrace a number of leaders

How is Community Service Good for Business?

Attracting and retaining talented individuals is a challenge faced by many, if not most, businesses and increasingly it is the ‘intangibles’ you offer that can make all the difference.

The Number 1 Rule of Big Data For Decision Makers

The use of Big Data and data analysis holds a great deal of potential for businesses. Businesses have forever been collecting information about the behaviour, demographics, purchase patterns, and buying preferences of customers.

How to innovate through encouraging failure

Innovation is the lifeblood of the digital economy. In today’s digital economy business leaders need to adapt quickly to changing customer needs by embracing new technologies and adopting new ways of working.

Autonomy trumps command and control in the digital age

Historically, business models which were created to enable efficiency and cost effectiveness resulted in the formation of complicated and siloed organisations, often with vast formal and informal inte