Business News

Board Moves February 13, 2020

Michael Ma has been appointed non-executive director of AustSino Resources Group.

AGL Energy grows its WA presence

AGL Energy has achieved a 37 per cent rise in the number of Western Australian customers buying its gas, as it continues to eat into the market share of Alinta Energy and Kleenheat.

Appointments February 14, 2019

Our weekly appointments wrap includes Bruce Godfrey, Graeme Hunt, Sarah Ryan, Lisa Paul, Mark Woffenden, Miranda Johnson, Daniel Gordon, Vaughan de Vos and Stephen Nano.

Green light for $15bn Vodafone TPG merger

A $15 billion merger between Vodafone Australia and TPG Telecom has been given the green light in the federal court, but the consumer watchdog says it will cause mobile data prices to rise.

Insolvency appointments February 1 to 11 2020

There have been 14 insolvency appointments to Western-Australian-incorporated companies in the first 11 days of February.

Board Moves February 12, 2020

Dampier Gold has appointed Gavin Solomon as special advisor to the board of directors. Mr  Solomon has over 30 years of experience in the Australian & Asian equity and capital markets.

Magmatic to raise $5m

Magmatic Resources has secured commitments to raise $5 million from a share placement to explore its tenements in the East Lachlan gold-copper province in NSW.

Board Moves February 11, 2020

Matt Callahan has re-joined the board of Botanix Pharmaceuticals as an executive director following the decision by Robert Towner to step down as non-executive director.

Cut to TAFE fees boosts enrolments

Half price TAFE fees have led to a 20 per cent increase in student enrolments this year, particularly in engineering, cyber security and early childhood courses.

Horizon Power fined $40,000

Electricity provider Horizon Power has been fined $40,000 for incorrect work in Kununurra, causing a fire and telecommunications equipment at various properties to become potentially unsafe.

PSC acquires safety consultancy

PSC Insurance Group has purchased Perth-based Ultimate Safety Solutions Australia (USSA) and the majority of shares in Eden Software, which owns USSA’s SafeX technology, for an upfront payment of $700,000.

AVL receives $1.25m grant

Australian Vanadium has received a $1.25 million grant from the federal government to find ways to improve vanadium production.

Accounts scandal hits Boral, CEO to leave

Boral boss Mike Kane has announced he is standing down after the company confirmed staff at its North American windows business had inflated earnings figures over a 20-month period.

Board Moves February 7, 2020

Bronwyn Barnes will transition as non-executive chair of Indiana Resources to executive chair, in order to focus on leading activities to protect the rights of shareholders in the current dispute with

Regional Australia hosts 4.5m Airbnb guests in 2019

Airbnb says 4.5 million people booked rooms on its online lodging platform in regional Australia last year, with 260,000 guests visiting regional Western Australia, confirming the widespread uptake of its accommodation services.

Mid West native title deal signed

The Yamatji Indigenous community has celebrated a landmark economic package and native title recognition for more than 100,000 hectares of land in Western Australia’s Mid West.

Mackerel to operate Karijini retreat

Mackerel Islands will begin managing Karijini Eco Retreat as of next month, with the Pilbara-based operator taking over operations of the Gumala Enterprises-owned facility.

Appointments February 7, 2020

Our weekly appointments wrap includes Paul Vogel, Steve Rowe, Grant Bowen, Kaylene Gulich, Robert Kennedy, Rob Cossart, Tym Duncanson, Robert Mosig, Murray Criddle, Paul Catalano, Wayne Scheggia, Gary Morgan, Bob Kucera, Richard Gregson, Jane Chiang, and Joe Lamhut.

Board Moves February 6, 2020

Our board moves wrap includes Michelle Prater, Howard Golden, Steven Michael, Richard Homsany, Nathan McMahon, Michael Jefferies, and Wayne Zekulich.

Fires, Black Friday sap December retail

National retail spending fell by a worse-than-expected 0.5 per cent in a fire-affected December, however, retail giant Coles recorded a surprisingly strong Christmas period.

Pitt, Chester receive cabinet promotions

Nationals MPs Keith Pitt and Darren Chester have been elevated to federal cabinet in a ministerial reshuffle.

AMP fined $5.2m

AMP has been ordered to pay a $5.2 million penalty after the Federal Court found the bank had failed to take reasonable steps to ensure its financial planners complied with the best interests duty.

Board Moves February 5, 2020

Our board moves wrap includes Andrew Penkethman, Katina Law, Tim Edwards, David Straface, Jordan Luckett, Justin Barton, and Greg Cunnold.

Tech stocks to raise $7.5m

Biotech company Zelira Therapeutics has received commitments to raise around $4.6 million from a share placement, while is planning an underwritten $2.9 million rights issue.

Board Moves February 4, 2020

Richard Homsany has joined the board of Brookside Energy as a non-executive director.

Clough wins aluminium contract

Perth-based engineering group Clough has secured a design and construction contract with ASX-listed Australian Bauxite for an aluminium fluoride production plant in NSW.

RBA holds cash rate at record low 0.75%

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.

McCormack triumphs over Joyce; Greens elect Bandt leader

Deputy Prime Minister Michael McCormack has repelled a leadership challenge from Barnaby Joyce, emerging victorious in a party room ballot this morning, while Adam Bandt has been elected unopposed as Greens leader following the resignation of Richard Di Natale.

Board Moves February 3, 2020

Our board moves wrap includes Robin Longley, Michelle Li, David Brown, Brenda Berlin, Tim Allison, Evan Cross, Andrew Steers, Michael Hendriks, Wayne Bramwell, and Patrick Corr.

December building approvals up in WA

Building approvals in Western Australia rose by 3.6 per cent to 982 in December, while total housing approvals across Australia dipped 0.2 per cent.

Primero wins $100m in contracts

Primero Group has increased its order book to $195 million for the 2020 financial year after securing $100 million worth of engineering and construction contracts with Rio Tinto and Fortescue Metals Group.



$120m in new work for Monadelphous

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.

FMG appoints Gaines as CEO

Fortescue Metals Group has announced major changes to its leadership, with a new chief executive taking the reins and its directors taking a hands-on role to support an updated strategy that focuses on producing more higher-grade iron ore.

Perth tax agent deregistered

The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.

Perth CBD office vacancy hits 25-year peak

Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.

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EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

Govt unveils marina, dust plans for Port Hedland

The state government is planning to restrict new residential developments in the west end of Port Hedland while also implementing a new regulatory framework for air quality in the town, which is located adjacent to large iron ore stockpiles.

Robert Kennedy passes away

Company director Robert (Bob) Kennedy, who was a director or chairman of four ASX-listed companies, has passed away after a short illness.

Taxi plate buy-back part of transport shake-up

Perth taxi and Uber users may see a 10 per cent fare hike for the next four years to fund taxi plate buy-backs as the state government revamps on-demand transport.