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

Corporate Finance DealsView all

EMC deal falls through for Carnegie

Carnegie Clean Energy has been forced to abandon plans to sell its battery storage and microgrid business, while chairman Terry Stinson has detailed the renewable energy outfit’s recent struggles in an address at today’s annual meeting.

Foreign capital driving local takeover deals

ANNIVERSARY SPECIAL: WA companies have been on the receiving end of nearly every major takeover completed during the past two decades, with Wesfarmers a notable exception. This article is part of a special series to mark Business News' 25-year anniversary.

HomeStay lists on ASX

Tech company HomeStay Care started trading on the ASX today after completing a reverse takeover of Antilles Oil and Gas and a $4 million capital raising.

ACCC approves Quadrant takeover

The competition watchdog has cleared Santos’ planned $2.9 billion takeover of Quadrant Energy despite concerns from some businesses in the Goldfields region about reduced competition for gas supplies.

Cycliq to raise up to $2m

Perth-based Cycliq has announced plans to raise up to $2 million as the cycling products developer ramps-up its business in the lead up to Christmas.

Politics & the EconomyView all

Landgate sale a boon for advisers

PwC has joined KPMG, BIS Oxford Economics and Investec in winning advisory work on the partial privatisation of Landgate – with each adviser securing increasingly large contracts.

City of Perth inquiry reveals serious issues

The inquiry into the operations of the City of Perth commenced public hearings today after highlighting a number of serious matters worthy of ongoing scrutiny and concerns over endemic, flawed cultural practices.

Major shifts at top of biggest employers list

ANNIVERSARY SPECIAL: The annual Business News Biggest Employers survey has tracked changing employment patterns in WA over 13 years. This article is part of a special series to mark Business News' 25-year anniversary.

WA unemployment rate dips to 5.7%

Western Australia’s jobless rate has fallen to 5.7 per cent in October, while the national figure remains at a six-year low.

WA wages growth slow

Wages growth in Western Australia is lagging the country, with ABS data showing the state's wages increased just 1.6 per cent year on year, compared with a national increase of 2.3 per cent.

PropertyView all

Reiwa shows Perth house price uptick

Perth house prices have risen for the second straight month, according to new data from the Real Estate Institute of Western Australia, which released its monthly figures today ahead of market analyst CoreLogic.

Saracen back to the drawing board for Royal George plan

Saracen Properties will reassess plans for a redevelopment of the historic Royal George Hotel in East Fremantle, after Planning Minister Rita Saffioti backed a proposal to limit building height on the site to seven storeys.

Win for Doric in ongoing Rivershores dispute

Construction group Doric has clocked up another tactical win in its legal battle with the property developers it partnered with on the ill-fated Rivershores apartment project in North Fremantle.

Perron Group set up for long haul

The late Stan Perron, who passed away last Friday after building a $4 billion self-made fortune, started preparing for his succession more than 25 years ago.

Hilton hotel opening nears

A new $30 million hotel in Northbridge is set to open next month, with operator DoubleTree by Hilton announcing an executive team to run the facility.

WA Event CalendarView all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, complete the online submission form.

Arts & CommunityView all

Rocky Bay expands disability focus

Disability service provider Rocky Bay has navigated its second not-for-profit acquisition, as it makes the move towards extensive infrastructure redevelopment.

Laugh Resort kicks off at The Shoe

The Laugh Resort Comedy Club will return to regular programming tomorrow night as it presents a sold-out opening show at a purpose-built venue within The Shoe Bar & Café, Yagan Square.

Woodside secures naming rights for Fringe venue

Oil and gas giant Woodside Petroleum has increased support for Perth’s Fringe World Festival, with a three-year sponsorship agreement including naming rights for the festival’s Pleasure Garden

Picabar gets ministerial reprieve

Northbridge venue Picabar may have been granted a reprieve, after intervention by Culture and Arts Minister David Templeman that will grant Picabar first preference in lease negotiations.

Youth Focus announces new CEO

Charity chief executive Arthur Papakotsias has been appointed the new chief executive of Youth Focus, replacing the outgoing Fiona Kalaf.

EnergyView all

SNC-Lavalin wins Perdaman contract

Vikas Rambal’s Perdaman Industries has signed up Canadian engineering company SNC Lavalin as lead contractor on its $4 billion Karratha urea project, one day after announcing a gas supply deal with Woodside Petroleum.

RAC invests in $15m EV chargers

The Royal Automobile Club of WA has invested in Sydney-based Chargefox’s $15 million rollout of electric vehicle charging stations across Australia, which includes two in Perth.

Woodside, ENN pursuing options

Woodside Petroleum has signed a cooperation agreement with Chinese gas company ENN, while it is continuing work on the Scarborough, Browse and Pluto projects.

Govt seeking more info on waste project

Just hours after the developers of a $670 million waste-to-energy project announced they planned to start construction after obtaining all necessary approvals, the state government disclosed it has asked the Environmental Protection Authority to conduct further investigations.

$670m waste-to-energy project to proceed

Construction of Australia’s first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

"Mark My Words" PodcastsView all

30 November 2018

PODCAST: Mark Pownall and Mark Beyer discuss the Rio Tinto expansion, fracking move, Rob Scott, Eastern Goldfields, Stan Perron and our special report on CEO salaries.

23 November 2018

PODCAST: In this podcast Mark Pownall and Dan Wilkie discuss lithium deals, apartment projects, housing construction, Perdaman contracts, and our special report on wealth creators.

16 November 2018

PODCAST: Mark Pownall and Mark Beyer discuss the Navitas takeover, Karrinyup expansion, Belmont Park apartments, GST changes, Woodside's future, Wesfarmers demerger, and our look back at the past 25 years, including our special report on WA's biggest employers.

09 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the BHP derailment, lithium plant approval, North West Shelf Gas agreements, construction news, hotel developments, PEXA sale, and our special report on WA's innovation awards.

02 November 2018

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

Food & WineView all

New Normal for restaurant waste

A small bar in Subiaco is demonstrating the benefits to business of developing more efficient waste management practices.

New owner for Beach Bar

Scarborough Beach Bar has been thrown a lifeline, with insolvency specialist WA Insolvency Solutions selling the company to hospitality operator the ARK Group, which currently operates venues including The Generous Squire and Market Grounds.

Settlers Tavern finds growth formula

Never settling for second best, a hardworking couple has spent the past 15 years transforming Margaret River’s local pub, Settlers Tavern, into a venue of national note.

Xanadu wins top gong

Margaret River-based Xanadu Wines has claimed the coveted Jimmy Watson Memorial Trophy at the Royal Melbourne Wine Awards, which were held last night.

Small fish expanding the gin pool

WA gin distillers Grumpy Fish and The West Winds Gin are taking small steps in a crowded market, using local flavours and sustainable techniques to attract lovers of the spirit.

Special ReportsView all

Wealth creators 2018

Wealth creators 2018

27 November 2018

Mixed results for WA's wealthiest

Perron Group set up for long haul
Mixed year for WA's wealth creators
Commitment pays for Sayers, Tomasi
Fund Managers 2018

Fund Managers 2018

05 November 2018

New strategies to deliver returns

Funds grow as dynamic shifts
Ibaera filling a funding niche
NWQ making volatility work
Commercial property 2018

Commercial property 2018

29 October 2018

Foreign buyers lift market share

Perth office market absorbs foreign funds
Brookfield builds for the future
Sirona positive on Perth growth
Biggest Exporters 2018

Biggest Exporters 2018

22 October 2018

Rio Tinto leads our updated rankings

Exports jump as outlook improves
Mid-tier miners iron out positions
Agribusiness chews on challenges

MiningView all

Forrest ups FMG stake with $23m buy

Andrew Forrest has made a $23 million share purchase in Fortescue Metals Group, confirming his position at the top of Business News’ director shareholdings list.

Genesis appoints McKeith as chair

Perth-based gold exploration company Genesis Minerals has announced the appointment of mining executive and company director Tommy McKeith as chair.

Steel doubts, new product mix improves Fortescue outlook

A recent deterioration in profits among China’s steel producers is boosting the prospects of lower-grade iron ore producers such as Fortescue Metals Group, with steelmakers expected to shift their focus to reducing costs rather than boosting volumes if margins continue to decline.

Gascoyne slides on output guidance

Shares in Gascoyne Resources have fallen more than 12 per cent today, after the gold producer downgraded its production guidance for the second time in less than a month.

Rio Tinto appoints Simon McKeon to board

Rio Tinto has appointed former CSIRO chairman and 2011 Australian of the Year Simon McKeon as an independent non-executive director.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the Rio Tinto expansion, fracking move, Rob Scott, Eastern Goldfields, Stan Perron and our special report on CEO salaries.

Commitment needed to put people in the Pilbara

Opinion: Talk of lowering migration targets is small thinking that misses the opportunity.

Walking a tight line on fracking

Opinion: The state government was never going to please all sides whatever decision it made on fracking.

Time running out for Liberals

The Liberal Party must learn the lessons from its humiliating defeat in Saturday's Victorian election, otherwise the federal poll due in May will be a repeat performance. It would be swept from office, and its ranks in WA decimated.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Dan Wilkie discuss lithium deals, apartment projects, housing construction, Perdaman contracts, and our special report on wealth creators.

RetailView all

Bunnings UK sell-off still stings Wesfarmers CEO Scott

Wesfarmers chief executive Rob Scott says while decisions to sell out of Bunnings’ loss-making operations in the UK and Ireland, and to demerge supermarkets giant Coles, were easy in a commercial sense, the Bunnings move in particular proved taxing on an emotional level.

Myer completes refinancing, AGM looms

The embattled Myer board has made a fresh pitch to shareholders ahead of a likely explosive annual general meeting on Friday, declaring the completion of its refinancing was a vote of confidence.

Wesfarmers shares down without Coles

Coles shares have floated on the Australian Securities Exchange at $12.49, with Wesfarmers' price adjusting in early trade without the supermarket giant in its stable.

Myer shares fall as Lew feud rages on

The war of words between Myer and Solomon Lew has escalated after the troubled retailer's shares went into freefall following its forced admission of another drop in sales. 

Tommy Hilfiger opens Perth store

International designer clothing brand Tommy Hilfiger has today opened its first full-price store in Western Australia, with a new outlet located in the Claremont Quarter.

SkylineView all

Skyline

Property Council cautiously backs noise reforms

The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.

Hibernian Place tops UDIA awards

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

Regus takes space at new Raine Square office

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Access key at Linc industrial estate

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

The Village Margaret River on the market

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

Bulls N' BearsView all

Bulls N' Bears

Artemis secures $5.4m in funding for Pilbara projects

Artemis Resources has secured a $5.4m funding package from a UK-based institutional group to underpin development activities at its Carlow Castle project near Karratha and exploration in the emerging Paterson Range area to the east. Funding will be used for resource development activities and metallurgical test work at the Carlow Castle gold-copper-cobalt project and to initiate regional geophysical surveys at the company’s prospective Paterson Range Armada prospect.

Emu kicks off exploration field season in Chile

Precious metals explorer Emu NL has commenced its exploratory field program at the Vidalita project in northern Chile with a comprehensive campaign of shallow aircore drilling planned for its Peon 4, Vidalota D and Jotahues areas. The campaign will also target higher grade gold mineralisation at its main Vidalita project, vectoring towards a prospective fault zone it has interpreted from existing drilling data.

Lithium Australia to apply technology in Europe

Lithium Australia is looking to use its proven technologies that can turn lithium mica mineralised waste into lithium-ion battery cathode powders at its Sadisdorf project in Germany and for similar resources elsewhere in Europe. The company will now include its proprietary technologies, such as its SiLeach process for extracting lithium phosphate from micas, into the scoping study for Salisdorf.

7% nickel hit for St George near Leonora

St George Mining has hit a 5.25m drill intersection going 6.95% nickel, 2.67% copper and 0.23% cobalt from 185m down-hole at its Investigators prospect near Leonora in WA. Another impressive 6.39m long intersection in a separate hole showed 6.48% nickel, 2.77% copper and 0.21% cobalt from 184.42m down-hole. The impressive results from massive sulphide intercepts continue to expand the footprint of mineralisation at the prospect.

Myanmar turns waste into riches with drill bit

Myanmar Metals’ drill campaign at its Bawdwin base metals project in Myanmar, has intersected high grade mineralisation of up to 45m @ 6.7% lead, 5.6% zinc and 113g/t silver from 76m down-hole in an area previously considered to be waste. The results could significantly add to the Bawdwin resource estimates and the economics of the China Pit pre-feasibility study, both of which are expected in early 2019.

Most viewed people

Paul Dalgleish

Paul Dalgleish

Former Managing Director, Chief Executive, RCR Tomlinson

Erik Palmbachs

Erik Palmbachs

Chief Financial Officer, Cardinal Resources

Elizabeth Perron

Elizabeth Perron

Non-Executive Director, Perron Group
Director, Stan Perron Charitable Trust

John Poynton

John Poynton

Non-Executive Chairman, Giving West
Council Chairman, Christ Church Grammar School
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Jindalee Partners
Non-Executive Director, Crown Perth
Non-Executive Chairman, Strike Energy
Board of Guardians, Future Fund
Executive Chair, Sapien Cyber
Non-Executive Director, Crown Resorts

Stan Perron

Stan Perron

Former Founder &
Chairman, Perron Group
Former Director, Stan Perron Charitable Trust
Former Vice-Patron, Giving West

Thought LeadershipView all

Rocking out: How Roy Hill used digitisation and automation to improve mining.

Mining is such an ancient, manual process, dating back to the beginning of civilisation, that thinking about technology and mining together often seems incongruous.

Canning – a welcoming and thriving City

OPINION shapers from the government, investment, transport and construction sectors were invited to the Business News boardroom to discuss the future development of Perth’s growing south-east corridor

Breast Cancer Researcher Honoured with Order of Australia

In September, Professor Arlene Chan was awarded a Member of the Order of Australia for her services to breast cancer research. The clinical trials she leads are helping to increase survival rates in breast cancer patients.

Fair Work Changes to Casuals

Australian Industrial Relations legislation has provided casual employees with a 25% casual loading to compensate for paid sick and annual leave, redundancy and other entitlements, but this has now been challenged by an unprecedented Federal Court decision, followed by updates to all Modern Awards.

Energy efficiency makes learning a breeze at South Bank TAFE

TAFE Queensland’s South Bank campus is a multi-building tertiary educational facility located in Brisbane’s South Bank Precinct. It was Queensland’s first PPP (Public Private Partnership).