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

Corporate Finance DealsView all

Mercantile increases Bauxite bid

Sir Ron Brierley-chaired Mercantile Investment Company has increased its bid for Perth-based Bauxite Resources to 11 cents, putting it within the price range set out in the independent expert’s report.

Imdex plans $NZ40m acquisition

Mining equipment supplier Imdex expects it will be able to deliver substantial productivity benefits to its clients after striking an option agreement over New Zealand company Flexidrill.

Tietto, BlackEarth raise $11m in IPOs

Perth-based gold explorer Tietto Minerals got off to a solid start in trading today after raising $6 million in its initial public offering.

Spitfire in $5m raising

Junior explorer Spitfire Materials has tapped investors for $5.3 million via a strongly supported share placement as the company ramps-up exploration work at its Western Australian gold project.

Saracen on track for gold target

Saracen Mineral Holdings says it is on track for its 2018 financial year production target after announcing solid gold output for the December quarter, while also signing a deal to sell its Wallbrook project near Kalgoorlie.

Most CommentedView all

Crowdfunding available for startups

UPDATED: Australian startups will now be able to raise capital via crowdfunding sources after the corporate watchdog today approved the first batch of licences allowing companies to act as intermediaries in the process.

Local business at Yagan Square

The state government has announced six more local businesses that will operate at the new $75 million Yagan Square development, set to be opened next month.

Quintis opposes requisition

Troubled sandalwood producer Quintis says its board intends to advise shareholders to vote against a series of resolutions to spill the board, while also announcing a one week extension on its forbearance agreement.

Time to appoint a chief entrepreneur

The right kind of government assistance could provide a timely fillip for WA’s startup and innovation community.

Power Ledger makes tech final

Local tech company Power Ledger has been selected as one of three finalists in the 2018 Extreme Tech Challenge at CES in Las Vegas.

Politics & the EconomyView all

Higher $A knocking on door of US80 cents

The Australian dollar is fractionally shy of 80 US cents, with the US dollar weakening ovenight amid fears of a possible federal government shutdown.

Aust shares shrug off Wall St, to open up

The Australian share market looks set to open higher despite an uninspiring Wall Street session.

Oil little changed after record crude draw

Oil is little changed, after prices ease early in the session, but are supported by a record drawdown of US crude stockpiles at the Cushing, Oklahoma delivery hub.

Gold under pressure as Bond yields rise

Gold is flat, trading in a narrow range, first dipping as the US dollar rose and then rising as the US dollar moved lower, but bullion's gains were limited by higher US Treasury yields.

Oil up ahead of US weekly inventory data

Oil prices have closed higher ahead of the release of US petroleum data that was expected to show a ninth straight weekly drawdown in crude inventories.

Upcoming Business News EventsView all

Hyatt Regency Perth - 16 February 2018

Crown Ballroom, Crown Perth - 07 March 2018

PropertyView all

Flux expands, innovates

The finishing touches are under way at the fitout for Flux’s two new floors at Parmelia House, which feature a shift away from full open plan.

Stockland gets green light for new shopping centre

ASX-listed property group Stockland is set to develop its fifth shopping centre in Western Australia after receiving state and local planning approvals for its Whiteman Edge Town Centre in Brabham.

TRG Properties selected for Parkside Walk

Local developer TRG Properties has secured the largest development site at LandCorp’s urban infill project in Jolimont, with plans to build 46 luxury apartments already under way.

Liv Apartments recognised for sustainability

A Defence Housing Australia apartment project in Fremantle has become the state’s third property development to be recognised as a One Planet Community, under the international Bioregional program.

Perth property values stabilise

Perth housing prices are continuing to stabilise after three years of weakness, in marked contrast to substantial falls in Sydney and Darwin.

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

Dolphins dive for mental health

Backed by South32 and Deloitte, brightly coloured sculptures of dolphins have begun cropping up across the streets of Perth as part of a public art exhibition for mental health.

Fremantle finds its roots with local artists

David Spencer was selected alongside popular local artist Anya Brock last year to the role of brand ambassador for Sirona Capital’s King’s Square project in Fremantle.

Royal Flying Doctor Service's reputation soars

The Royal Flying Doctor Service (RFDS) has been ranked the most trusted charity for the seventh year running in the Charity Reputation Index for 2017, followed by St John Ambulance and CareFlight.

Creative collective driving change

The newly formed Perth Arts Leaders Collective has an ambitious goal to transform tourism in Western Australia while simultaneously lifting the profile of the state’s artists and creative community.

Yiap designs work to meet the market

Alister Yiap has explored a number of business models to find the best way to move his jewellery-meets-art into the hands of his admiring customers.

EnergyView all

LNG Australia's third biggest export: Energy Quest

Australian LNG export revenue grew 44 per cent in 2017 on the previous year to $25.8 billion, making the commodity the nation's third biggest export earner, according to consultancy Energy Quest.

Goldsworthy, Skira to Power board

Former Rio Tinto executive Denise Goldsworthy and former Water Corporation chair Eva Skira have been appointed directors of Western Power, replacing Sharon Warburton and George Cash.

Western Power signs up Bonfire

Western Power has engaged digital marketing agency Bonfire to broaden the utility’s engagement with customers beyond the traditional means.

Nalder pans power pricing as disconnections grow

The number of electricity users disconnected for failing to pay bills increased around 60 per cent in Western Australia in the 2017 financial year, while more than 10,000 electricity users were on a hardship program, according to a report released by the Economic Regulatory Authority today.

New energy connections lower

The number of new gas and power connections in Western Australia fell in the year to June, an outcome of the slowing property development market, according to the Economic Regulation Authority.

"Mark My Words" PodcastsView all

19 January 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the Australian dollar and commodities, blockchain technology, contract wins and deals, Imdex's expansion, and franchising.

12 January 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the funeral business, St John of God Healthcare, cultural developments, big moves in corporate finance sector and Business News celebrates 25 years.

05 January 2018

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss MRA and LandCorp merger, a local bitcoin venture, WA property values, cannabis, plus food trucks, fresh food boxes and fine dining.

15 December 2017

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss Scarborough high rise, Colin Barnett, construction jobs, Tox Free, AWE takeover and our person of the year.

08 December 2017

PODCAST: Mark Beyer and Mark Pownall discuss WA’s economic growth, land development softens, Scarborough development knocked back, architecture firm collapse, Mark Povey fined, EPA approves Southbank, gas project bid, company directors cash in and WA’s biggest employers

Food & WineView all

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.

Perth feasts on food boxes

SPECIAL REPORT: Perth's fresh food box market is becoming big business, with global player Hello Fresh launching in WA late last year as more local suppliers plan their launch.

Food trucks drive opportunity

SPECIAL REPORT: With more than 500 food trucks in Perth, competition in the sector is heating up, despite a number of unique challenges and bureaucratic hurdles.

Events embrace intimate flavour

The operators behind UnWined Subiaco and Ice Cream Factory have tailored their approach to curate experiences different to traditional large-scale events.

Local business at Yagan Square

The state government has announced six more local businesses that will operate at the new $75 million Yagan Square development, set to be opened next month.

Special ReportsView all

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
Person of the year 2017

Person of the year 2017

18 December 2017

Chris Ellison on top after shrewd moves

Strategic Ellison seizes opportunities
Wealth creators 2017

Wealth creators 2017

04 December 2017

WA company directors make major gains

Healthy dividend in building wealth
Tech next step for Jones post-Navitas

MiningView all

Cape in Bald Hill lithium win

CFC Group subsidiary Cape has become the latest business to win work from the the state’s growing lithium sector, sealing a four-year contract for crushing services at Bald Hill.

Mining sector turnaround

A 40 per cent rise in project applications with the Department of Mines, Industry Regulation and Safety last year has provided another signal of a turnaround in the mining sector.

Battery secures 60% offtakes

Battery Minerals has locked in offtake agreements for 60 per cent of the forecast annual production at its Montepuez graphite project in Mozambique after announcing a supply deal with a Chinese company today.

Battery signs offtake deal

Perth-based Battery Minerals has signed an offtake deal for the supply of graphite concentrate at its Montepuez project in Mozambique to a private Chinese company.

BHP maintains iron ore volumes

BHP Billiton has lifted production of copper, nickel and energy coal for the first half of fiscal 2018, but volumes were flat in its iron ore business while petroleum and metallurgical coal volumes were down.

OpinionView all

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the Australian dollar and commodities, blockchain technology, contract wins and deals, Imdex's expansion, and franchising.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the funeral business, St John of God Healthcare, cultural developments, big moves in corporate finance sector and Business News celebrates 25 years.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss MRA and LandCorp merger, a local bitcoin venture, WA property values, cannabis, plus food trucks, fresh food boxes and fine dining.

Cryptocurrency boom to lose its lustre

Bitcoin may be enjoying a golden run at the moment, but established economists are dismissive of its value.

Urban no legend in Labor ranks

The state government is facing its first major personnel crisis, and the opposition is keen for a win.

RetailView all

$150,000 fines for Pastacup breach

The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.

More time to shop this Christmas

Perth’s shoppers will enjoy the same extended shopping hours as last year to buy presents and hunt for bargains, but employers want longer hours all year round.

Borgioli right at home on King Street

It was in the aftermath of a profoundly emotional moment that Terence Borgioli, then 23, decided to chase his dream of starting a luxury fashion business.

Car sales shed August gains

New car sales in Western Australia dipped back into the red last month after showing rare signs of improvement in August.

Blossoming Profresh a cut above

Floral wholesaler Profresh has grown from a one-person business into a team of almost 15, generating $3 million in revenue in just its second year of commercial operations

Most viewed companies

Quintis

Quintis

Ranked 16th from 45
Agribusiness

EC&M

EC&M

Ranked 22nd from 81
Contractors

Power Ledger

Power Ledger

Ranked 29th from 142
Startups

Most viewed people

Jemma Green

Jemma Green

Councillor, Acting Lord Mayor (2017- ), City of Perth
Co-Founder, Chair, Power Ledger
Non-Executive Director, Water Corporation

Jonathan Hart

Jonathan Hart

Former Executive Director, Antares Mining
Former Company Secretary, Black Star Petroleum
Former Company Secretary, Harvest Minerals
Former Company Secretary, Wolf Petroleum
Former Company Secretary, Antares Mining
Former Executive Director, Company Secretary, The Waterberg Coal Company
Former Company Secretary, Paradigm Metals
Former Company Secretary, Firestone Energy
Former Solicitor, Steinepreis Paganin
Former Company Secretary, Valor Resources

Paul Jurman

Paul Jurman

Company Secretary, Carnavale Resources
Company Secretary, Kangaroo Resources
Company Secretary (Interim Non-Executive Director since Jan 2018), Platina Resources

Rob Hamilton

Rob Hamilton

Managing Director, Ashanti Capital

Melanie Perkins

Melanie Perkins

Founder, Chief Executive Officer, Canva

Thought LeadershipView all

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 i

The biggest danger is to act with yesterday’s logic

I don’t think anyone can be in any doubt that we’re operating in a VUCA environment today, with extreme levels of Volatility, Uncertainty, Complexity and Ambiguity.

Perth’s quiet smart creative revolution

When I moved to Perth from Johannesburg earlier this year I was surprised by the views and perspectives of some people I met on the prospects for the WA economy.

How can scrap metal help people and the environment?

In today’s world, organisations have an incredibly important role in being environmentally responsible. The St Vincent de Paul Society understands this and has a strong focus on sustainability and recycling.

The modern workplace — gen Y style

THE nature of employment is changing as a younger generation moves through the workforce. The new era means a shift of priorities is needed for employers and employees. “About 20 or 30 years ago you used to have a job for life,” Lance Compton said.