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

Corporate Finance DealsView all

Explorers raise $9m

Venus Metals Corporation has entered into an underwriting agreement with Ord Minnett to exercise $5.7 million worth of options to progress exploration activities at its base metal projects in Western Australia.

AVZ to raise $14m

Lithium explorer AVZ Minerals has announced it would raise $14.1 million to a new strategic investor based in China.

SAS halves placement share price

West Perth-based Sky and Space Global has revised its previously announced plans for a $15 million capital raising, with the funds to be raised through a placement and rights issue at 0.5 cents per share.

Bodybuilder strikes $85m ASX deal

Perth bodybuilder Danny Pavlovich is planning a stock market listing of his business Nutrition Systems, which has quietly grown to become one of Australia's leading suppliers of supplements with annual sales of $50 million.

Konekt supports increased APM offer

West Perth-based APM has been forced to lift the value of its takeover offer for Konekt by 30 per cent after a competing bidder lodged a proposal for the ASX-listed health solutions provider.

Politics & the EconomyView all

Cormann bullish on wages

Wages growth is picking up and performing better than many commentators expect, according to Finance Minister Mathias Cormann, while the government will likely revise its surplus projection lower for the financial year.

Labor backs mining industry

Federal Labor leader Anthony Albanese has used a speech in Perth to defend the importance of the mining industry, saying the market should be allowed to determine which projects, including in the coal sector, are able to proceed.

Tinley primes WA for slice of Indonesia trade deal

Asian Engagement Minister Peter Tinley has talked up Western Australia’s business opportunities with Indonesia, as federal parliament is set to ratify a significant trade deal with the South-East Asian country.

Ports, utilities add $1.2bn to coffers

Almost $1.2 billion in dividends flowed to the state government from 11 of its businesses in the year to June 2019, according to their recently published annual reports.

Citic resolution a key for China

Continued Chinese investment into Western Australia could hinge on a fair outcome in the long-running dispute between CITIC Pacific and Clive Palmer's Mineralogy, according to Consul General Zhihua Dong.

PropertyView all

WA house sizes fall 7%

Western Australians have built smaller homes over the past year, with the average house size falling 6.9 per cent, according to a recent report from CommSec.

Fini Group given go-ahead for heritage project

Fini Group has been given the green light to restore Shenton Park’s Victoria House, with the heritage-listed former hospital to become a retail and hospitality precinct which will be integrated with 8

Vacancies fall in rental market, rent rise could follow

The latest data from Perth’s rental market suggests landlords could potentially look forward to rising rents in coming months, with vacancies continuing to decline while leasing activity ramps up across the city.

Public art policy under pressure

National trucking giant Linfox is providing a major test for the validity and robustness of local government policies requiring developers to contribute to public art to win approval for major projects.

The Agency to manage Aspen’s $20m portfolio

The Agency has been appointed to manage Aspen Group’s recently acquired $20 million Perth rental portfolio.

WA Event Calendar View all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, register with Scoop Online..

Aboriginal Culture in WA View all

With a history stretching back at least 50,000 years, there are many ways to explore WA’s rich and diverse indigenous heritage..

Arts & CommunityView all

Novice Nunan wins Lester Prize

Liam Nunan had never entered an art competition before winning the The Richard Lester Prize for Portraiture 2019 for a painting of his friend Jonny Hawkins on Friday night.

Fogarty named WA Australian of the Year

Perth philanthropist Annie Fogarty has been announced this year’s WA Australian of the Year for her work in education advocacy.

WA Ballet goes to China

The West Australian Ballet has announced it will tour China with a performance of ‘Giselle’ in October of next year, as part of the company’s recently announced 2020 season.

Perth Festival launch 2020 program

Artistic director Iain Grandage launched the 2020 Perth Festival program last night and announced the first week of the 24-day festival will be dedicated to First Nations performances.

de Mori, Gilbert win NFP director awards

The Australian Institute of Company Directors has announced EON Foundation chair Caroline de Mori and South Coast Natural Resource Management board member and audit committee chair Joanne Gilbert as the winners of the PwC Director Awards for Excellence in the Not-for-Profit Sector in WA.

EnergyView all

Carbon answers needed for LNG

The Conservation Council WA has ramped up its continuing criticism of the LNG industry, with a report released today arguing other parts of the state's economy will have an “impossible ask” to reduce emissions to compensate for recent petroleum developments assuming the national target is applied uniformly.

The power of money

OPINION: The investment opportunities offered by new energy models could change the debate over climate policy.

Feds switch lanes on energy

A $1 billion fund to subsidise grid reliability and an expert panel to review Australia’s emissions abatement program are signs the federal government might be rethinking its approach to climate policy.

Perth Energy wins $4.5m gas contract

AGL Energy subsidiary Perth Energy has secured a $4.5 million three-year contract with the North Metropolitan Health Service, its biggest natural gas supply agreement with a state government agency this year.

Fed govt backs Alinta-FMG power station

The use of renewable energy in the mining sector is being given a boost, with the federal government and Alinta Energy jointly funding a $200 million solar facility that will help to power Fortescue Metals Group’s iron ore mines.

Food & WineView all

Kailis senses market movement

There’s a seismic shift happening in hospitality and Perth has an opportunity to become a culinary destination, according to George Kailis.

Chocolate artisan builds the brand

Coolbellup-based Nakamura Chocolates is aiming to triple Western Australian sales after a successful entry into the Japanese market.

Prominent Perth restaurateur accused of extortion

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Twenty-five businesses share $166m food contract

The Department of Finance has selected 25 businesses for its new common-use arrangement contract to supply food and beverage items to government agencies across Western Australia.

WA wins big at national food awards

Bacon from Perth, coffee from Broome, pork from Fremantle, and nougat from the Swan Valley have all claimed awards at the 2019 Sydney Royal Fine Food Show’s Taste of Excellence event.

Special ReportsView all

Innovator of the Year 2019

Innovator of the Year 2019

07 November 2019

Business News takes a dive into the WA Innovator of the Year Awards 2019, profiling the companies behind glycine leaching, automated rigging, localised weed tilling and efficient bike storage.

Simple leaching solution wins for MPS
Weedchipper a non-chemical, sustainable cropping solution
Steadman rides to success as Steadyrack goes global
Safety, efficiency seal Roborigger sweep
Commercial Property 2019

Commercial Property 2019

04 November 2019

  • Optimism returning to office market as vacancies gradually fill
  • Rents starting to grow, incentives pulling back
  • Developers seeking new approvals to benefit from demand uptick
  • Chevron HQ construction to mark turning point in office sentiment

Office players lining up for next wave
Primewest winning in tough IPO market
Environmental services

Environmental services

28 October 2019

• Big data for managing water, power use and geospatial services
• Sustainable tech businesses also include those focused on renewables and recycling
• Work picking up for environmental consultants is a good sign for the economy

Data helps drive optimal outcomes
Consultants nurture growth opportunities
Great for the State – Edition 8: Generosity & Giving

Great for the State – Edition 8: Generosity & Giving

22 October 2019

The 8th monthly edition of Business News' Great for the State has a focus on philanthropy. We profile some of the people and organisations who have made a big difference in Western Australia, and those set to have a large impact in future. These include:

Museum foundation sets big targets
Perron foundation set up for long-term future
Aikins brings gift for generating giving
From shale gas to philanthropy
ICT Infrastructure

ICT Infrastructure

21 October 2019

This feature analyses the growing debate over broadband services, as construction of the NBN approaches completion.
It also looks at WA data centres – while NEXTDC and Equinix are investing, Fujitsu has cancelled a planned upgrade.

Criticisms continue for NBN as rollout nears completion
Data deployment shift as 5G nears

MiningView all

Police investigate mine site death

Pilbara Minerals temporarily suspended its operations today after Homicide Squad detectives were called to investigate a suspicious death at its Pilbara lithium mine.

Perenti shares slump after Africa attack

Perenti Global will reassess the security situation in the West African nation of Burkina Faso following a deadly attack on its employees and other local workers.

Three WA explorers launch IPOs

Three Western Australian companies led by experienced mining executives are hoping to defy the slump in new stock market listings by launching initial public offerings over the past week.

Fenix releases positive feasibility study

Fenix Resources expects its high-grade Iron Ridge project in Western Australia to deliver strong returns, helped by its low development cost.

Macmahon, Newcrest reach Telfer agreement

Macmahon Holdings and Newcrest Mining have signed an agreement to increase the rates for Macmahon’s work at the Telfer gold project.

OpinionView all

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss ASX listings, including Danny Pavlovich's Nutrition Systems, Spudshed's growing profit, shopping centre developments, profit results for contractors Ertech and Georgiou, successful METS companies Hofmann Engineering and RCT, and our special report on the Innovator of the Year awards.

Exposure lifts lid on Chinese box

OPINION: China is developing even faster than some might realise, offering Aussie brands a big opportunity.

Mark my words podcast

PODCAST: Mark Beyer and Mark Pownall discuss housing challenge, state stimulus, Primewest IPO, big mining royalties, lithium, tech incubator, and our special report on commercial property.

Labor resets, mines for votes

Labor has walked away from its planned major redistribution of income, and sought to clarify confusion over coal mining that cost it at the last federal poll.

Compelling business case for school connections

OPINION: Businesses that place emphasis on corporate social responsibility, or CSR, are attracting a growing share of consumer goodwill and spending.

RetailView all

Profit rockets at Spudshed

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

Betts pulls on boots for recovery

Shoe retailer Betts Group has returned to profitability after cutting nearly 130 stores in the past two years, and chief executive Danny Breckler is confident the business is now on the right path.

Super Retail sales rise but margin dips

The owner of Rebel Sport and Supercheap Auto says like-for-like sales have increased 3.2 per cent so far this financial year, but promotions to attract cautious consumers have hit margins.

WA hospitality sector shows signs of resurgence

Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.

AHG slumps to $233m loss

Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.

SkylineView all

Skyline

Experts tip price growth for Perth housing

Perth has gone from being Australia’s least affordable city to the most - but it's ready for price growth, a Property Council WA lunch has heard.

Property Council WA wins stamp duty relief

Property Council WA is counting the State Government’s rebates of up to $50,000 for off-the-plan apartments as a significant policy win.

WA industrial players build on infrastructure momentum

As consumer demand changes, retail and logistics operations start to blur - with automated warehouses a notable aspect of the changing landscape.

Sub-lease office space in hot demand

Perth's office market is heating up, leading independent commercial property specialists Sheffield Property say.

Glimmer of hope in WA house prices

Perth house prices have slumped over the past five years but positive signs are emerging for West Australian households, creating hope of a rebound in residential values.

Bulls N' BearsView all

Bulls N' Bears

Horizon gets onto more gold near Kalgoorlie

Horizon Minerals has rounded off a drilling campaign at its Kalgoorlie gold project with results such as 12 meters grading 3.62 grams per tonne gold from just 28 meters downhole at the Capricorn prospect. At the historic Baden Powell North prospect, new intercepts include 5m going 2.67g/t from only 12m. With multiple processing facilities in the area, Horizon could even produce some quick and easy cashflows from Capricorn.

Big River looks to cash in on “waste” mineral

Big River Gold said this week that a usually insignificant waste mineral known as “mica”, could potentially make the company some good money at its Borborema gold project in north-eastern Brazil. Perth-based consulting group, Wave, identified the potential to process and extract the mica minerals and sell them as a separate, commercially viable product. The micas make up approximately 30% of the volume of the Borborema deposit and carry half the gold grade.

Is this Australia’s largest onshore conventional gas deposit?

Strike Energy is firing on all cylinders, tabling a maiden resource of a massive 1,185 billion cubic feet of 2C gas at its West Erregulla-2 well in the Perth Basin of Western Australia. Strike’s gas play is arguably Australia’s largest onshore conventional gas field and the company’s excitement is still building with multiple targets at West Errugulla underpinning the potential for the gas resource to grow even further.

Coziron to drill Pilbara gold play after nugget find

Coziron Resources will soon be on the ground at its Croydon Top Camp project in WA’s Pilbara region, after expanding its gold target zone by re-assaying historic samples that peaked at 4.9g/t gold. The company has secured a rig and is preparing to drill approximately 2000m across some very prospective rock sequences, where a prospector recently recovered an astounding 203 gold nuggets in the area.

Chinese to plough $14m into AVZ’s massive lithium play

AVZ Minerals’ quest to develop the giant Manono lithium project in the DRC has been given a major shot in the arm after it received $14.1 million from Chinese lithium chemical producer, Yibin Tianyi. The strategic investment, which could lead to an offtake agreement, will allow AVZ to increase its stake in the project and start early development works as it completes Manono’s definitive feasibility study.

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Vernon Strange

Vernon Strange

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Con Berbatis

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Thought LeadershipView all

Construction industry reforms – is compliant still compliant?

Builders, developers and consultants may all be at risk of legal action commenced as a result of the impending changes to building regulations.

Perth can be Singapore’s Playground

A lot has been said of late about increasing tourism as a means to diversify our economy and create more jobs.

Reshaping the future of Subiaco

Subiaco is no stranger to reinvention. 

Breaking the Mould on Gender Equality

On Tuesday 15th October, the RRR Network of WA celebrated the International Day of Rural Women with more than 130 people at the Perth Convention and Exhibition Centre to discuss Breaking the Mould on

Global ed-tech leader, crimson education, secures US$20m in series c funding round

October 16, 2019: Global edtech company Crimson Education, has completed an innovation-inspired Series C funding round, spearheaded by a US $10M investment from Hong Kong-based CTF (Chow Tai Fook) Education Group.