Business News

AFL confirms Round 1

AFL boss Gillon McLachlan has announced the league will proceed with Round 1 as planned, with the first match to be played between Richmond and Carlton at the MCG tomorrow night.

Board Moves March 18, 2020

Charles Rottier has joined the board of Tempo Australia as an independent non-executive director.

Entertainment venues hit by new rules

A growing number of hospitality venues are either closing or revising their operations, after the Prime Minister announced the ban of all non-essential gatherings of 100 plus people. The ban is effective immediately and will impact religious services.

Track’em secures Downer deal

Perth technology company Track’em has been awarded its second contract with Downer this year for the provision of its cloud-based asset tracking software.

Euroz terminates Prodigy JV

Euroz has flagged an $8 million hit to its earnings after pulling out of its 80 per cent-owned Prodigy Investment Partners joint venture, which had underperformed in recent years.

VEEM receives $9m submarine parts order

Marine technology company VEEM has secured a $9 million order from the Australian Submarine Corporation for specialised parts for the Collins-class submarine maintenance program.

Ban reduced for Perth accountant

Keith Bowker, who was previously banned six years from providing financial services, has received a reduced ban of two years after appealing the ASIC decision to the Administrative Appeals Tribunal.

NRW wins $48m contract

Civil and mining contractor NRW Holdings has been awarded an airport upgrade contract with BHP at its Olympic Dam project in South Australia.

PM tightens overseas travel ban

Australia has upgraded its international travel advice to the highest level, with all citizens being told not to travel overseas because of coronavirus. It comes as Virgin Australia suspended all international travel for more than two months.

Board Moves March 17, 2020

Sonu Cheema, current company secretary of Avira Resources, will also become a non-executive director of the company.

WA premier rejects state border close call

Mark McGowan is resisting calls to close interstate borders as he confirmed three more coronavirus cases.

Board Moves March 16, 2020

Our daily board moves wrap includes Richard Monti, Terry Wheeler, Carl Popal, Rodney Dale, Nicole Hollows, Joel Nicholls, Arthur Palm, Mark Twycross, David Williams, Shannon Coates, and David Bell.

Horizon secures up to $6m in funding

Horizon Minerals has executed a $4 million loan facility with a German investment group, while also announcing a share placement to raise $2 million to fund the development of its Boorara gold project in Western Australia.

Saracen contracts SRG for $70m

SRG Global has secured a five-year contract with Saracen Mineral Holdings to provide drill and blast services at the Thunderbox and Carosue Dam operations in Western Australia.

Downer, Perenti suspend mining sale talks

Infrastructure group Downer EDI's possible sale of its mining business to Perenti Global has been suspended due to the market volatility caused by the coronavirus pandemic.

Board Moves March 13, 2020

David Wheeler has joined the board of Blaze International as non-executive chair. Mr  Wheeler has over 30 years of executive management, directorship, and corporate advisory experience.

Singular Health to raise $1m ahead of IPO

West Leederville-based medtech startup Singular Health will raise $1 million ahead of a planned IPO in September, with PAC Partners appointed lead manager for the listing.

Government says big events should not proceed

The federal government will be advising against mass gatherings of more than 500 people from Monday, Prime Minister Scott Morrison said today, in response to the growing coronavirus threat.

Emerald contracts MACA for $365m

Emerald Resources has moved closer to developing its Okvau gold project in Cambodia after signing a $US230 million ($A365 million) mining contract with MACA.

Board Moves March 12, 2020

Helix Resources has made some board and management changes in order to accelerate progress on its 100%-owned Collerina Copper Project in central New South Wales.

Reprieve for lobster industry

Fisheries Minister Peter Tinley has unveiled a range of measures to support Western Australia’s rock lobster industry as a result of the worsening COVID-19 outbreak, including an extended fishing season and measures to increase local sales opportunities.

Appointments March 13, 2020

Our weekly appointments wrap includes Jane Lothian, Judith Uren, Tracey Roberts, Jason Thomson, Shane Love, Chris West, Richard Crane, Sue Holgate, Erin Papalia, Kylie Groves, Lynne Craigie, Karen Chappel, Danial Schecter and Marc Russo.

Board Moves March 11, 2020

Our daily board moves wrap includes Geoff Eyre, Steven Wood, Mathew Whyte, Peter Ravenscroft, Troy Hayden, Anna MacKintosh, Judith Uren, Russell Barwick, Peretz Schapiro, Angus Middleton, Richard Mehan, Paul Summers, Jason Peacock, and Troy Brice.

Orbital signs supply agreement with Boeing

Drone technology company Orbital Corporation has signed a memorandum of understanding with Boeing subsidiary Insitu to become its primary engine supplier.

Anglo to raise $5.5m

Gold explorer Anglo Australian has received commitments to raise $5.5 million through a share placement to fast-track exploration at its wholly-owned Mandilla project in Western Australia.

Aust home loan market surging

Home loans in Western Australia have reduced in value by 6.4 per cent in January, while the national figure increased by its fastest rate since mid-2019.

WA, PNG production issues plague Newcrest

Australia's largest listed goldminer says it expects to produce around 10 per cent less gold than previously forecast due to underperformance of its mines in Western Australia and Papua New Guinea.

Insolvency appointments February 26 to March 10 2020

There have been 32 insolvency appointments to Western-Australian-incorporated companies in the last two weeks.

Board Moves March 10, 2020

Michael Soucik has joined the board of Kula Gold as non-executive director.

ASIC bans Mark Goldenberg

Property analyst Mark Goldenberg has been permanently banned from engaging in any credit activities, after he was found operating an illegal early access to superannuation scheme in Perth.

Manheim facing $30m ransom demand

Global company Manheim Auctions has fallen victim to a $30 million ransom demand from cyber criminals who have locked its computer system in Australia.



COVID-19 daily wrap: WA to ban regional travel

Mark McGowan says regional WA travel restrictions will soon be announced, foreshadows beach closures. Optus Stadium converted to emergency headquarters for WA police. WA's confirmed COVID-19 cases grew by 35 to 175.

COVID-19 daily wrap: WA closer to lockdown

WA's confirmed COVID-19 cases jumped by 20 overnight to 140. Premier Mark McGowan warned not enough people were adhering to social distancing rules. WA will go into border lockdown tomorrow while cafes, restaurants and bars were restricted to takeaway services only at 12pm today.

COVID-19 daily wrap: First community transmission in WA

Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

$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.

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Austal wins more maintenance work with US Navy

Henderson-based shipbuilder Austal has won a $US12 million ($A15.6 million) contract to provide maintenance work on a littoral combat ship it is currently building for the US Navy.

Carnarvon surges on gas test results

Shares in local oil and gas company Carnarvon Petroleum have surged on better than expected results at its Roc-2 well test offshore Port Hedland.

World's second-best hotel in Perth's CBD

Perth’s COMO the Treasury Hotel has been named the second best hotel in the world by travel publisher Conde Nast.

Gold Road project to cost $507m

Gold Road Resources has released its feasibility study on the Gruyere gold project near Laverton, which has detailed a $52 million increase in capital costs and a longer mine life.