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

17 Aug 2018

Australian shares have opened subdued, , despite Wall Street rallying overnight, as weakness in materials and healthcare shares continues to weigh amid a cautious approach by investors.

Wall St rallies on earnings, trade talks

17 Aug 2018

US stocks have rebounded with the Dow posting its biggest percentage gain in over four months, as positive earnings and waning trade jitters buoyed investor confidence.

Oil steadies but outlook grows gloomy

Corruption and Crime Commission

17 Aug 2018

Oil prices rose slightly as global markets steadied, recovering some of the previous day's two per cent slide, though a weakening outlook for crude demand kept prices in check.

Morning Headlines

Adrian Rauso

17 Aug 2018

Blitz on $1b gold GST claims

CCC calls for criminal charges

16 Aug 2018

The Corruption and Crime Commission has recommended criminal charges be laid against three former public servants and at least 10 private sector contractors after highlighting corrupt practices at the North Metropolitan Health Service.

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Corporate Finance DealsView all

Poseidon Nickel

Poseidon attracts $66m takeover

17 Aug 2018

Privately-held US group Black Mountain Metals, which has recruited three experienced Perth mining executives to its leadership team, has flagged a takeover bid for Poseidon Nickel at six cents per share.

Cassini Resources

Cassini raises $4.2m

Staff reporter

17 Aug 2018

West Perth-based Cassini Resources has completed a $4.2 million share placement, with backing from the chairman of Chinese company Tinci Materials.

RSM

Sultan debuts after $4.8m IPO

16 Aug 2018

Shares in Sultan Resources began trading on the ASX today, after the company raised $4.8 million via an initial public offering.

Tap Oil

Risco ups Tap offer to $39m

09 Aug 2018

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.

Fero Group

ACCC backs Fero takeover

09 Aug 2018

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.

This week's most viewedView all

Golden Group

$130bn of major projects in WA

Corruption and Crime Commission

13 Aug 2018

Nearly 140 major projects are either under way or planned for WA, new research by Business News has found. Click through to access the new list on the BNiQ Search Engine.

CCC calls for criminal charges

16 Aug 2018

Perth slips in liveability rankings

14 Aug 2018

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

Rio Tinto

Investigation into Rio mine death

16 Aug 2018

The state government is investigating the death of a haul truck driver at Rio Tinto’s Paraburdoo mine, which occurred last night.

Ausdrill

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

15 Aug 2018

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.

Most CommentedView all

Tourism isn’t rocket science

Tim Treadgold

02 Aug 2018

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

City of South Perth

SAT sides with Como Hotel developer

Department of Jobs Tourism Science and Innovation

20 Jul 2018

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

14 Aug 2018

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

Moray & Agnew

Supreme Court rules on broken soap dish

University of Western Australia

08 Aug 2018

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.

Dodds dives into water venture

15 Aug 2018

Suzanne Dodds puts much of her entrepreneurial success down to dogged persistence and an ability to remain focused when the pressure is on.

Politics & the EconomyView all

Rates to head up as jobs market booms

Australia China Business Council WA

17 Aug 2018

The next move for interest rates is up, but the outlook for jobs is good and a wage rise could be around the corner, says Reserve Bank governor Philip Lowe.

Govt seeks to revive international student market

16 Aug 2018

The state government has foreshadowed a new graduate visa scheme to attract international students to WA but has no plans to reverse earlier policy decisions that have contributed to a plunge in the state's share of foreign students coming to Australia.

WA jobless rate at 6%

16 Aug 2018

The state’s unemployment rate has declined for a fourth straight month, after the economy added about 13,000 full-time jobs in July, according to the latest figures from the Australian Bureau of Statistics.

WA wages beat inflation

15 Aug 2018

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

Master Builders Association of WA

14 Aug 2018

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.

PropertyView all

Ric New honoured with Robert Law Award

17 Aug 2018

Midland Brick founder, the late Ric New, has been honoured for his influence on Western Australia’s building industry, receiving the Master Builders Association’s Robert Law award.

SwanCare

Work starts on $55m SwanCare project

Urban Development Institute of Australia WA

17 Aug 2018

Adco Constructions has broken ground on SwanCare’s $55 million retirement living and aged care project at Bentley Park, which will include a new residential care facility as well as a leisure precinct.

New land sales rise again

15 Aug 2018

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

15 Aug 2018

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.

SHAPE Australia

Office facelifts shape success

Australia’s Public Sector: Fit for Purpose. Fit for the Future - With Prof. Peter Shergold AC FIPAA

14 Aug 2018

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

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.

21 Aug 2018 to 22 Aug 2018 | @ 08:30am

2018 WA IT Leadership Summit

21 Aug 2018 | @ 12:30pm

Corporate culture and people risk - lessons from the Royal Commission

21 Aug 2018 | @ 06:00pm

Business Spark - Local Startups Showcase

22 Aug 2018 to 23 Aug 2018 | @ 09:00am

18th Energy in WA Conference

22 Aug 2018 | @ 09:00am

DigiMarCon Australia 2018 - Digital Marketing Conference

22 Aug 2018 | @ 05:30pm

Business in Gosnells - Networking

23 Aug 2018 | @ 08:00am

Succeeding in China - partnering for protection

23 Aug 2018 | @ 09:00am

23 Aug 2018 | @ 09:00am

Introduction to Tendering - New to Tendering

23 Aug 2018 | @ 05:00pm

HHG Boardroom Q&A — Will your business survive your departure?

Arts & CommunityView all

Lost and Found Opera

Obscure venues provide opera diversity

17 Aug 2018

From an asylum to a pool, Lost and Found Opera artistic director and co-founder Chris van Tuinen is bringing shows to unlikely Perth spaces.

City of Fremantle

Collaboration key for niche art works

15 Aug 2018

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

UnitingCare West

Grants for WA not-for-profit groups

14 Aug 2018

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.

Art Gallery of WA

Ned Kelly provides opportunity for AGWA

10 Aug 2018

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

Perth Festival primed for 2019

08 Aug 2018

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.

Featured PhotographsView all

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

Sculpture By The Sea 2018

EnergyView all

Calima Energy

Calima raising $65m for Canada

17 Aug 2018

Subiaco-based oil and gas junior Calima Energy has raised $25 million through a placement, and aims to pick up a further $40 million through debt to underpin a drilling campaign at its Canadian exploration tenements.

Origin Energy

Origin lifts profit, signals dividend return

16 Aug 2018

Origin Energy has more than doubled underlying profit on the back of improved performance in its retail and gas production operations, and signalled a return to dividend payouts in the current financial year.

Synergy

Nahan commits to electricity competition

13 Aug 2018

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 Group

APA accepts $13bn offer from CKI

13 Aug 2018

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.

Chevron

NEG approved by states, questions remain for WA

Australian Hotels Association

10 Aug 2018

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.

"Mark My Words" PodcastsView all

17 August 2018

This week Mark My Words covers a broad range of topics including international students, health department corruption, liquor licenses, Ausdrill and Barminco merging, our exclusive report on retail property, and our special projects list.

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.

Food & WineView all

Liquor licensing reforms take effect

Gage Roads Brewing Company

14 Aug 2018

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

13 Aug 2018

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

Cassandra Charlick

07 Aug 2018

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

03 Aug 2018

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

Fogarty Wine Group

WA tops Halliday wine awards

02 Aug 2018

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

13 August 2018

Who are the WA market leaders?

Tech leaders slowly emerge

Mark Beyer 13 Aug 2018

Progress made on submarine cables

Mark Beyer 13 Aug 2018

Small Business 2018

07 August 2018

Offerings accelerate for startups, SMEs

Matt Mckenzie 07 Aug 2018

Studio provides a platform for social purpose

Matt Mckenzie 07 Aug 2018

Oil & Gas 2018

30 July 2018

Fifteen projects under way or planned as sector turns.

Arts & Culture 2018

23 July 2018

Getting creative on firm funds footing

Tori Wilson 23 Jul 2018

Canning keeps the culture coming

Tori Wilson 23 Jul 2018

Corporate finance June 2018

16 July 2018

Six-page analysis of the top advisers

Sternship making its mark

Mark Beyer 16 Jul 2018

New corporate advisory players lift market share

Mark Beyer 16 Jul 2018

Growth in alternative financing

Mark Beyer 16 Jul 2018

MiningView all

Kangaroo Resources

Kangaroo approves PT Bayan bid

17 Aug 2018

Directors of junior miner Kangaroo Resources has given a tick to a bid from Indonesian coal miner PT Bayan which values the company at $515 million.

Evolution Mining

Evolution full-year profit jumps

17 Aug 2018

Evolution Mining has lifted full-year profit 21 per cent to $263.4 million, helped by the sale of its Edna May gold mine in Western Australia for $90 million.

MineARC Systems

MineArc wins Telstra WA business of the year

17 Aug 2018

Rio Tinto

Investigation into Rio mine death

16 Aug 2018

The state government is investigating the death of a haul truck driver at Rio Tinto’s Paraburdoo mine, which occurred last night.

Neometals

Neometals to demerge vanadium project

16 Aug 2018

West Perth-based Neometals will demerge its Barrambie vanadium and titanium project early next year, as the businesses gears up for a final investment decision on its planned Kalgoorlie lithium hydroxide refinery in mid-2019.

Current IssueView all

Issue for 13 August 2018 to 26 August 2018

Issue for 30 July 2018 to 12 August 218

Issue for 16 Jul 2018 to 29 Jul 2018

Issue for 2 July to 15 July 2018

Issue for 18 Jun 2018 to 1 Jul 2018

OpinionView all

Mark my words podcast

Mark Pownall

17 Aug 2018

Energy policy a power failure

Tim Treadgold

16 Aug 2018

Opinion: WA’s interest and those of other states are poorly aligned in terms of national energy policy, and the same is increasingly the case given US trade tensions with China.

Winning play on home turf

Jeffrey Gitomer

15 Aug 2018

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

Mark my words podcast

10 Aug 2018

Targets are fine, just not on your back

Mark Pownall

09 Aug 2018

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

RetailView all

Wesfarmers

Bunnings UK savages Wesfarmers profit

15 Aug 2018

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

Wesfarmers in $350m KTAS sale

13 Aug 2018

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

KFC

KFC expansion swells Collins Foods profit

AAP Business News

26 Jun 2018

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

Metcash shares lift despite $150m FY loss

AAP Business News

25 Jun 2018

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.

Hall Chadwick WA

Kambo's into administration

11 Jun 2018

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

Terrain Minerals

Terrain generates new gold targets near Leonora

17 Aug 2018

Terrain Minerals has outlined a number of new gold exploration targets on its Wild-viper exploration licence that completely surrounds its Great Western gold project, north of Leonora in W.A. The company will shortly commence reconnaissance geological mapping and soil sampling programs over the areas of interest. Terrain also said this week that drilling results from its RC drill program at the Red Mulga exploration play near Geraldton are imminent.

Artemis Resources

Artemis back on gold trail at Purdy’s

17 Aug 2018

Artemis Resources’ JV partner Novo Resources has shown that a highly prospective gold-bearing conglomerate unit strikes for at least 1.2km at the Purdy’s Reward project near Karratha. Recent field work has located fault structures and a distinctive mafic marker horizon that control the distribution of gold. The JV partners are presently diamond drilling at Purdy’s Reward and preparing to take bulk samples of the deposit.

Strike Energy

Ducks all lining up in a row for Strike

17 Aug 2018

Strike Energy’s Jaws-1 horizontal coal seam gas well in the Cooper Basin of South Australia, is currently flowing water at a rate of about 1,100 barrels per day and rising with the electric submersible pumps operating near their lowest setting. This indicates significant reservoir inflow from the targeted Vu Upper coal seam and the company will continue to ramp up water production until sustained operations are achieved.

Infinity Lithium

Infinity looks to lithium hydroxide in Spain

17 Aug 2018

Infinity Lithium has started a scoping study that will look into the potential for the company to economically produce lithium hydroxide alongside its San Jose lithium mine in western Spain. The study is due to be released in September and could result in the company progressing its ongoing feasibility study towards producing a higher value lithium hydroxide battery chemical product rather than lithium carbonate.

Myanmar Metals

Myanmar picks up pace at Bawdwin