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AHG backs out of Covs Parts sale

Automotive Holdings Group has walked away from a potential sale of its Covs Parts business to Burson Group, which hoped to use the 25 stores as an entry into the WA market.

Residential building hits all-time high

Western Australia’s residential building sector has broken historical records, setting a new high of $1.99 billion worth of work in June, according to data released by the Australian Bureau of Statist

Call goes out for stadium subcontractors

The state government says there are more than $140 million worth of subcontracting opportunities available for the new Perth Stadium, with a tenders process launched today for a wide range of works.

Directors’ interests transactions restated

In our Morning Headlines email today three reported changes in directors’ interests were wrongly stated as being a sale instead of a purchase.

CTI profit steady in FY2014

Perth-based trucking firm CTI Logistics held its profit largely steady over financial year 2013-14, even as the company lodged an 11 per cent uptick in revenue.

Fleetwood makes $4.75m acquisition

Modular and transportable building manufacturer Fleetwood Corporation has bought New South Wales-based aluminium tray and automotive accessories manufacturer Bocar in a deal worth $4.75 million.

Sirius signs native title deal for Nova

Sirius Resources has inked a mining agreement with the Ngadju people, paving the way for the development of the world-class Nova nickel deposit near Norseman.

Northern Minerals secures $6m for Browns Range

Northern Minerals has secured $6 million in bank finance to fund the completion of a feasibility study for its Browns Range heavy rare earths project on the Western Australia-Northern Territory border

Paspaley charged over death of pearl diver

Paspaley Pearling Company has been charged over the death of 22-year old pearl diver Jarrod Hampton off the Kimberley coast in 2012.

LNG Ltd taps market for $38m

Liquefied Natural Gas Limited has secured $38.6 million from investors to fund its recently acquired Bear Head LNG project in Canada.

Greenland Minerals and Energy awards contract

Subiaco-based Greenland Minerals and Energy has awarded a competitive tender to a North American-based firm with a Perth office, for detailed engineering design aspects of a feasibility study for its Kvanefjeld rare earth elements project in Greenland.

iiNet appoints new CEO

Internet services provider iiNet has appointed David Buckingham as chief executive officer, filling the vacancy created by founder Michael Malone's departure almost four months ago.

Curtin FM tops $100k

Curtin University has raised more than $100,000 in its annual fundraising drive to pay for its community radio station, Curtin FM.

Builder sought for $46m train station car park

The state government is seeking a builder to construct the first multi-storey car park at a metropolitan area train station, in Edgewater.

PM says Aust, Japan now better friends

Japan and Australia are officially even better friends, with Prime Minister Tony Abbott and visiting Japanese PM Shinzo Abe swapping compliments at an official dinner in Perth last night.

Morning Headlines

Union settles with BGC over case of the concrete pour

Aquila, MinRes halt trade ahead of 'potential transaction'

Aquila Resources and Mineral Resources placed their shares in a trading halt this morning, ahead of an announcement regarding a “potential corporate transaction”, due Wednesday.

Minbos announces $1.7m capital plan

West Africa-focused explorer Minbos Resources is seeking to raise $1.7 million to pay down debts, renew exploration licences and progress the sale of its Kanzi phosphate project in the Democratic Repu

Capp joins Commonwealth Business Council

Former Business News 40under40 winner Sally Capp has been appointed to the board of the Commonwealth Business Council.

Hot Chili signs $US25m term sheet

Hot Chili has secured US$25 million in debt funding which will be partially used to complete its prefeasibility study at its Productora copper project in Chile.

Business News Background (PODCAST)

In this week's edition of Business News Background, head of content Mark Pownall and news editor Mark Beyer discuss the state budget and its implications for business, plus the upcoming federal budget, Aquila Resources and Esperance Port.

Red Mountain kicks off DFS

Red Mountain Mining expects to complete by the end of the year a definitive feasibility study at its Batangas gold project in the Philippines after appointing Como Engineers to undertake the initiative.

Rolls-Royce launches Perth showroom

Perth’s high-flying corporate elite have a new option for getting around the city’s congested streets, with Rolls-Royce partnering with Barbagallo Motors to open its first showroom in Western Australi

Brierty bags $300m contract

Brierty and three Aboriginal contracting firms have won a $300 million contract with Rio Tinto to complete mining and civil works on a project in the Pilbara.

Pearce joins Cedar Woods board

Fortescue Metals Group chief financial officer Stephen Pearce has been appointed a non-executive director of Cedar Woods Properties.

ASIC slams inadequate liquidator

A Perth-based liquidator has failed to adequately carry out its duties and been ordered to improve its procedures following an investigation by the Australian Securities and Investment Commission.

Kahlbetzer buys into Lucapa

Argentinian-born agricultural tycoon John Kahlbetzer has purchased a 5 per cent stake in Subiaco-based Lucapa Diamond Company.

EPA to assess shark drum-line policy

Western Australia’s Environmental Protection Authority will assess the Barnett government’s proposal to extend its controversial catch-and-kill shark policy for a further three years.

Property improves profitability for FFI

WA-based food company FFI Holdings has agreed to lease part of its 50,000 square metre Jandakot investment property, which is expected to provide annual revenue of $740,000 to the company.

iiNet appoints two new directors

iiNet has appointed an experienced online business executive and a digital marketing expert to its board, following the recent departure of two directors and the retirement of chief executive Michael Malone.

NRW bags another Roy Hill contract

NRW Holdings has won a $200 million contract for concrete and earthworks at Hancock Prospecting’s Roy Hill iron ore project.

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Morning Headlines

Union settles with BGC over case of the concrete pour

State govt starts legal action against Uber

Legal action is being taken against ride-share company Uber for not having the appropriate licence to operate in Western Australia.

Vale Shane Gherbaz

Former stockbroker and the founding managing director of Euroz, Shane Gherbaz, has passed away after a battle with illness.

Brierty bags $300m contract

Brierty and three Aboriginal contracting firms have won a $300 million contract with Rio Tinto to complete mining and civil works on a project in the Pilbara.

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State govt starts legal action against Uber

Legal action is being taken against ride-share company Uber for not having the appropriate licence to operate in Western Australia.

Rinehart comments an 'insult': Swan

Treasurer Wayne Swan has slammed mining magnate Gina Rinehart for insulting Australian workers after she called for a cut to the minimum wage and accused people of being jealous of the wealthy.

Rayney sad his wife's killer is still free

Acquitted murder suspect Lloyd Rayney has spoken of his sadness that his wife's killer is still at large, rather than the relief he feels at being cleared of killing her himself.

Leighton/Georgiou consortium wins Gateway works

A consortium led by Leighton Contractors and Georgiou Group has been chosen by the state government to deliver its $1 billion-plus Gateway WA project.