Matt Mckenzie joined Business News in June 2014 and reports on projects, energy, agribusiness, infrastructure, small business, manufacturing and economics. He completed bachelor of arts and bachelor of economics degrees at the University of Western Australia, majoring in political science and international relations, economics, and money and banking. In 2018, Matt won a WA Media Award for business reporting.
The emissions reduction policy proposed by the Environmental Protection Authority in March was misaligned with the Paris Agreement, would lead to lower abatements for a given cost, and potentially even send emissions overseas, according to Woodside Petroleum.
A $2.4 billion surge in revenue above forecast levels helped the state government record a $1.3 billion operating surplus in the year to June, but the overall cash position of the budget is still in a deficit of $924 million.
Perth-based health insurer HBF has posted a 53 per cent rise in its net surplus to $93.7 million, while profit at the state government-owned Insurance Commission of WA fell 27 per cent to $203.5 million, despite an improved return on its investments.
Allseas Group has been selected to build a 260 kilometre pipeline linking the Barossa gas field to the Darwin LNG facility, with ConocoPhillips likely to make a final investment decision on the project before March 2020.
Power utility Synergy has taken a $446 million impairment and reported a loss of $656.9 million in the year to June, which the state government-owned business said was driven by higher fixed costs as revenue fell.
Local hospitality entrepreneur Andy Freeman is leading a move to build a local branch of South Australian brewery Pirate Life in Perth, with a three level, 1000 person venue to open on Murray Street next year.
Consumers have saved $7.5 billion through the Economic Regulation Authority’s tight leash on major utilities, according to chair Nicky Cusworth, but work is needed to make the state's rules regime more effective.
The McGowan government has inked its biggest privatisation deal yet, with Landgate’s titles register to be operated by a consortium including industry superannuation funds and a Macquarie Group fund, in a deal worth $1.4 billion.
A commercial biogas to hydrogen operation in Perth is a step closer for Hazer Group, after the company announced it had received approval from the Australian Renewable Energy Agency board for $9.4 million of funding.
Bibra Lake-based Magellan Power has been hit by the insolvency of EC&M after supplying nearly $500,000 of equipment to a project, leading managing director Masoud Abshar to add his voice to calls for stronger laws around payment of subcontractors.
GDP has bounced back from a poor showing in the September quarter with December quarter seasonally adjusted growth of 1.1 per cent, while Western Australia snapped a five quarter streak of shrinking state demand to grow 0.4 per cent.
The University of Western Australia Student Guild has dismissed a staff member over financial irregularities after bringing in forensic accountants from BDO to undertake a special analysis of its 2013 accounts.
The Roe 8 road project will be cancelled if the Labor Party wins the upcoming state election, opposition leader Mark McGowan said today, even though the government has already signed a contract for construction, with $236 million of funding to be re-allocated to three alternative roads.
Transport Minister Dean Nalder has highlighted the social benefits of Roe 8 and touted the minimal environmental impact of the project at a lunch today, adding that the link would need to be built regardless of any move to an outer harbour.