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

Corporate Finance DealsView all

Belmont pool company bought for $3.1m

ASX-listed Waterco is purchasing Kreepy Krauly distributor Autopool for $3.08 million, as the company seeks to expand its range of pool equipment products.

Legend Mining seeks $20m

Legend Mining has launched a $20 million share placement to progress its nickel-copper project in the Fraser Range, while fellow Western Australian explorers Auroch Minerals and Xantippe Resources have also announced capital raisings.

Peninsula to raise $40m

Subiaco-based Peninsula Energy is raising $40.3 million under a heavily discounted rights issue to help repay its existing term debt and advance its flagship uranium project in the US.

Perseus in $60m takeover

Subiaco-based Perseus Mining is set to gain control of a potential new gold project near its Sissingue mine after announcing a friendly takeover bid for Exore Resources in a scrip deal worth around $60 million.

Decmil completes $30m raising

Shares in Decmil dropped by more than 50 per cent today after the engineering and construction company completed a heavily discounted rights issue, which is part of a broader $50 million capital raising plan.

Politics & the EconomyView all

Kimberley to reopen tomorrow

Western Australians will be able to travel to the Kimberley, Shire of Ngaanyatjarraku and parts of the East Pilbara tomorrow after the federal government agreed to lift the state’s biosecurity restrictions, two weeks earlier than the anticipated deadline.

Federal Court rules live export ban 'unreasonable'

A ban on live exports in 2011 has been ruled invalid by the Federal Court, following a long-running dispute between 300 producers and former agriculture minister Joe Ludwig.

WA to lift restrictions next weekend

Almost all businesses will be able to reopen in Western Australia next weekend, as the state becomes the first in the country to reduce the four square metre rule, and gatherings of up to 100 people will be allowed.

Agri success without handouts

Australian farmers are among the least subsidised in the world, while government support has shifted from manufacturing into the services industry in recent years, according to two new reports.

Emerging into the unknown

The end of federal assistance to businesses and workers will be a pivotal point in how Australia emerges from COVID-19 lockdown.

PropertyView all

Industry welcomes HomeBuilder scheme

The federal government has launched a new $25,000 HomeBuilder grant, to go towards new builds or renovating an existing home, as the state government prepares to announce its own package in coming days.

Can isolation inoculation hold for apartments?

Western Australia’s property developers hope the physical isolation that has helped mitigate the worst of COVID-19 in this state will also insulate the local apartment market from a contagion of a different kind.

Development WA releases industrial land

DevelopmentWA has announced plans to expand an industrial estate in Perth’s northern corridor, putting several lots on the market.

BGC reports $107m loss for FY19

BGC Australia has reported a net loss of $107 million on revenue of $974 million in the year to June 2019, as the group continues its major restructure.

Fini to create new Leederville hospitality hub

Adrian Fini-led FJM Property has unveiled plans to redevelop the Leederville Hotel and laneway into a multi-venue food, drink and entertainment precinct that will link with the new headquarters for Dale Alcock's ABN Group.

Arts & CommunityView all

Uncertain future for charities

More than 200,000 jobs could be lost in the charities sector nationwide if financial supports, including JobKeeper, end in October, a new report has found.

Record box office for Perth Festival

The 2020 Perth Festival has proved to be the most successful in the event's history, with $5.98 million earned at the box office, despite some programming cancelled due to COVID-19 and lower audience numbers.

Virus threat to corporate support

The business community has supported front-line charities during the pandemic, but the economic downturn may change this.

Art sector seeks grant clarity

Denied the ability to perform or present their work during COVID-19 lockdown, arts organisations and independent artists in Western Australia have been investing their time navigating a range of recent funding initiatives.

$1.5m to WA visual artists

The Art Gallery of WA Foundation and the gallery's board have announced a $1.5 million package for Western Australian artists represented in the State Art Collection and Aboriginal art centres across the state.

EnergyView all

Horizon signs Shell for gas supply

Perth-based Horizon Power is purchasing gas from Shell to use in some of its power systems across regional Australia under a two-year supply agreement.

Hazer, Water Corp partner on hydrogen project

Water Corporation will supply Perth-based technology business Hazer Group with biogas from its wastewater treatment plant at Woodman Point, following an agreement signed between the two parties.

Warrego Energy to raise $15m

Warrego Energy has received commitments to raise $15 million from a two-tranche share placement, with the proceeds to go towards drilling at its West Erregulla development in the Perth Basin.

Hitting the road on hydrogen

The team behind a planned green hydrogen project to be built near Dongara are hoping to raise $1 billion by the end of the year, while BP is undertaking feasibility on a plant close to Geraldton, less than an hour’s drive north.

Electric vehicles return to agenda

Electric vehicles and pumped hydro are high on the federal government’s list of short-term priorities to reduce emissions, a new report shows, as Energy Minister Angus Taylor quietly moves towards an interventionist emissions policy.

Food & WineView all

Hospitality hungry for recovery

Perth bar and restaurant operators are looking forward to reopening, but hope further easing of restrictions will be on the menu soon.

The Old Brewery pours its last round

Fraser's Restaurant Group has announced it won't be reopening The Old Brewery on Mounts Bay Road once COVID-19 social distancing restrictions are relaxed, surrendering its tenancy to head lease owners Minderoo Group.

A couple of beers and a slow cooker

The growing popularity of low-and-slow American style cooking has created a business opportunity for the founder of Perth BBQ School.

Home run for home deliveries

Social distancing measures have changed the way we buy groceries, cook and eat out, leading to growth in home-delivery businesses and innovation by others in the hospitality space.

Wine Australia appoints acting chair from WA

Margaret River winemaker Cath Oates will be acting chair of Wine Australia for three months, while a review of its board is undertaken.

Special ReportsView all

Legal review 2020

Legal review 2020

02 June 2020

- HWL Ebsworth, Bennett + Co expand
- Working from home to continue for many
- Litigation funders under review
- WA's largest law firms

Major shift in law firm rankings
Remote work set to stay
Litigation funders on the spot
Business of Local Government

Business of Local Government

26 May 2020

In our Business of Local Government supplement, Business News will highly how all good businesses rely on relationships with government, and how that plays out on a local level.

Supporting Local Government
2020 and beyond: Advancing the way we help people make good decisions about trees
What is happening to Planning in WA in the recovery period?
Geographe Civil delivering innovative solutions within Local Government
Wineries 2020

Wineries 2020

25 May 2020

Exports, tourist numbers, and cellar door sales have been disrupted in the past few months, putting some WA wineries under pressure.

Market choices mitigate COVID impact
Sustainability gains ground in Margs
Great for the State 2020: City of the Future

Great for the State 2020: City of the Future

19 May 2020

Business News analyses the changes Perth will need to make if it is to maintain the lifestyle that is the envy of many. We canvass the debate over urban infill, and look at options to achieve greater density, amenity and liveability.

Urban infill key for 2050 vision of Perth
Perth’s housing choices
New look for urban density, design
Renewed focus on urban planning will ensure a resilient and liveable city
Education sector 2020

Education sector 2020

18 May 2020

WA’s education sector confronts the fallout of the COVID-19 pandemic, embracing new practices and a radically altered teaching landscape.

Unis drive broader value message
Lessons from pandemic recess

MiningView all

Mineral exploration down amid COVID-19

The Australian minerals sector has experienced a 20 per cent drop in exploration spending over the March quarter, with industry groups calling for more government support.

Mader, Lycopodium revise FY20 guidance

Mining services companies Mader Group and Lycopodium have downgraded their full-year earnings guidance, citing the impacts of the coronavirus outbreak on their operations.

Mincor contracts Pit N Portal for nickel restart

Emeco Holdings’ recently acquired subsidiary Pit N Portal has secured two contracts with Mincor Resources for work on its nickel operations in Western Australia.

ACH Minerals gets nod to develop WA goldmine

The environmental watchdog has recommended approval for the development of an $85 million gold-copper project in Ravensthorpe, wholly owned by ACH Global’s mining business.

Explorers raise $20.6m

Rox Resources, Kingston Resources and Core Lithium have received commitments to raise a combined $20.6 million under share placements, with part of the proceeds to go towards the companies' gold and lithium projects.

OpinionView all

Time to broaden trade ties

OPINION: The virus has created a major shift in sentiment about the cost of diversifying our economy and trading relationships.

Tariffs spark diversity push

OPINION: Trade threats from China are forcing a rethink for WA’s exporters and the McGowan government.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the virus impact and policy response, live sheep, industrial relations shift, COAG, investors lose $200m, Michelle Fyfe, and our special report on law firms.

Palmer call sends wrong message

The refusal to allow Clive Palmer into WA on public health grounds seems out of step with decisions relating to other high-profile businessmen.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Wesfarmers restructuring, pandemic impact, planning process changes, BGC and Ventura Homes, new city towers, China tension, and our special report on WA's wine industry.

RetailView all

Denada ice-cream to UAE

Sugar-free ice-cream brand Denada has hit supermarket freezers in the United Arab Emirates after its Perth-based founders signed a contract with Middle East supermarket chain Spinneys.

More shops close amid virus crisis

More Perth eateries are set to shut their doors in response to a weakened retail environment, particularly in shopping centres, while blinds retailer Kresta has announced it will close all of its showrooms across the country.

More retailers shut down in COVID-19 crisis

Just Jeans, Peter Alexander and Smiggle are among several Australian brands set to close their doors tonight due to the COVID-19 crisis, while commercial landlord Dexus has withdrawn its earnings guidance for 2020.

Michael Hill to close all 304 stores

Retailer Michael Hill International will close all 14 stores in Western Australia as part of its move to suspend operations nationwide, and in New Zealand and Canada, amidst growing COVID-19 concerns.

Wesfarmers unable to quantify impact

Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.

SkylineView all

Skyline

Property Council WA ready to work on commercial tenancy code of conduct

Property Council WA has pledged property industry support for efforts by Premier Mark McGowan to keep WA businesses strong - starting with a fair commercial tenancy code of conduct.

Property Council WA supports efforts to ease virus pain

Property Council WA Executive Director Sandra Brewer has offered the State Government industry support to protect incomes, jobs and solvency.

Project 90K sets out bold vision for Perth’s CBD

Property Council WA has unveiled a bold vision to set aside the areas needed for foundation infrastructure to support a central Perth population of three times its current level.

Property Council WA advocates for affordable medium density

Perth’s so-called missing middle must be affordable and well-designed, Property Council WA says.

Primewest selects Sheffield to manage significant Perth office assets

Primewest has appointed WA-owned commercial office specialist Sheffield Property to manage a key group of office assets in the city.

Bulls N' BearsView all

Bulls N' Bears

Classic looks to stretch gold resource at Kat Gap

Classic Minerals has fired up the drill rig again at its Kat Gap gold deposit near Southern Cross in WA with the dual aims of infilling its existing 92,856 oz resource and testing for extensions of the deposit. Classic will no doubt be looking to duplicate recent high-grade hits that returned double-digit grades up to a serious two ounces of gold to the tonne.

Calidus pens bold growth strategy at Warrawoona

Calidus Resources has struck upon a bold growth strategy as it steams towards the development of its rapidly advancing Warrawoona gold project in the Pilbara. Drilling has kicked off at its flagship Klondyke deposit, targeting the rich inventory of gold speculated to sit below the existing resource.The company is scrubbing up a pipeline of resources to extend the life of the developing mine.

Blackham hits serious grades at Golden Age

Blackham Resources’ Golden Age gold deposit at Wiluna is living up to its name, delivering some outstanding high-grade drill results. Underground drilling of the reef continues to produce impressive intercepts including 1.8 metres at 39.68 g/t gold, 2.6 metres at 21.74 g/t and 2.7 metres at 17.32 g/t gold. The company is getting set to deliver on its staged upgrade to start mining the sulphides.

Buru reels in extra US200k from Ungani oil sale

Buru Energy has received an extra US$200,000 in cash for its share of the recent sale of crude oil from its Ungani oil field in Western Australia’s Canning basin. Buru’s third oil sale for the year originally settled in mid-May at A$1.2m, net to Buru, however contractual terms saw the final price tag upped by USD $200k due to rising oil prices throughout the month of May.

PharmAust drug zeroes in on COVID-19 treatment

ASX-listed PharmAust Limited has produced some early stage positive results from laboratory testing of the effects of its anti-cancer drug, Monepantel, on the Coronavirus. The testing, which took place at the Walter and Eliza Hall Institute of Medical Research in Melbourne, showed suppression of the virus by between 50% and 95% after treatment by Pharmaust’s Monepantel.

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Don Carroll

Don Carroll

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Former Non-Executive Chair, European Cobalt
Former Vice President, Investor Relations, BHP

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Bob Fowler

Non-Executive Director, Racing and Wagering Western Australia
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Nick Coatsworth

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Maurice Spillane

Maurice Spillane

Former Non-Executive Chair, Perth Symphony Orchestra

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Nev Power

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Thought LeadershipView all

Being relational enriches experience

This year began as the dawn of a new decade with limitless opportunities that we only needed to grab and explore, how different the world looks five months in!

STREET PHOTOGRAPHY, THE PERFECT BREAK FROM ISOLATION

My name is Tony McDonough and I am a pro-photographer working across nearly all photographic genres, including photo-documentary, photojournalism, news, sport, corporate, and travel.

What is happening to Planning in WA in the recovery period?

Developers of "significant developments" are about to have access to a new planning approval process. 

Lockdown Lessons for Better Sleep: Could a good night's sleep be just a click away?

The Covid-19 response has led to unprecedented changes in all aspects of our daily life, including negative impacts on a good night’s sleep.

Choosing a school in a post COVID-19 environment

Choosing a school has always been a difficult choice for many parents. Public or private? Co-educational or single sex? Faith based or not? Mainstream or alternative?