Financial Services

THERE weren't too many winners to emerge from the gloomy economic backdrop surrounding last week's federal and state budgets, but the small business sector has more to be pleased about than most.

PERTH miner Norseman Gold is shaping up to be the second Western Australian company to list on the Australian Securities Exchange this calendar year.

The collapse of two agribusiness companies in less than a month has raised doubts over the sector’s viability.

RESIDENTIAL property developers and builders were big winners from state and federal budget initiatives, which will provide much-needed stimulus to the property industry.

East Energy Resources managing director Mark Brusa has spent more than $3.1 million buying shares in the company as part of a rights issue.

THE world's second richest man, Warren Buffett, told shareholders early this month that good, skilful management was a key attribute he looked for in a potential investment.

If we are to have a carbon tax, it’s important we get it right – first time.

More than 40 directors have dropped off the WA Business News rich list during the past 12 months.

A MICROFINANCE program that provides a safe line of affordable credit to low income earners in Western Australia is creeping closer to a $500,000 milestone.

THE building and construction sector has welcomed the state government's record capital works program, as the industry looks to the government to stimulate activity while private sector investment languishes.

Mining services company Emerson Stewart Group will buy back more than 31 million shares from a major shareholder at a premium to its trading price.

Construction and engineering company Paladio Group has unveiled major changes with managing director Victor Kuss to step down and a name change to Decmil Group.

The Chamber of Commerce and Industry of WA has thrown its support behind Treasurer Troy Buswell's wariness over plans to align occupational health and safety rules across all states.

Former nickel miner Australian Mines will resolve its outstanding debts through the issue of nearly 3 billion shares to creditors at no cost.

Miner Panoramic Resources has moved a step closer to full ownership of the Lanfranchi nickel project after shareholders of a joint venture company approved the sale.

Property developer Aspen Group has unveiled plans for a fully underwritten capital raising of more than $82 million, which will be used to "secure an enhanced senior debt facility".

A consortium of banks, owed $600 million, have called in receivers to timber plantation and cattle project manager Great Southern.

Shares in Atlas Iron have risen after the miner announced a five-fold resource increase at its Wodgina iron ore project near Port Hedland.

TFS Corporation has formed a joint venture company with a United Arab Emirates investment firm, which will spruik investment in 200 hectares of new sandalwood plantations annually.

GRD Minproc has been awarded a contract by Brisbane-based PanAust to carry out the definitive feasibility study for the Ban Houayxai gold-silver deposit in Laos.

NRW Holdings expects its annual profit to be in line with the previous year, following delays to major contracts with BHP Billiton, Citic Pacific and Fortescue Metals Group.

Reassuring news about housing and banking on Monday convinced investors to return to the US stockmarket.

Automotive Holdings Group has raised more than $34 million from an institutional placement, and plans to launch a share purchase plan shortly.

Shareholders in Jackson Minerals have overwhelmingly voted in favour of a merger with Scimitar Resources, with Tony Sage to head up as executive chairman of the combined entity.

Avoca Resources has received the green light from the Foreign Investment Review Board for its takeover bid for gold miner Dioro Exploration.

Perth-based property developer Aspen Group has entered a trading halt pending the release of details regarding a capital raising.

Mount Pleasant-based Comet Ridge plans to raise $21 million to fund exploration efforts at its coal seam gas projects in Queensland and New Zealand for the next 18 months.

Perth-based Tasman Resources has won a dispute against WCP Resources over a farm-in arrangement near the massive Olympic Dam uranium mine.

Apex Minerals has unveiled plans for a $28 million capital raising after a slower than expected ramp up of gold production at its Wiluna mine.

Automotive Holdings Group has launched an institutional share placement in order to reduce its $353 million debt and pursue growth opportunities.

Babcock & Brown Power, owner of Alinta's retail assets, will realise $125 million from the release of an "onerous" contract but has revised down its operational earnings from $310 million to $270 million.

Treasurer Troy Buswell has again defended the government's decision to not release the State Infrastructure Strategy, saying its framewok needs to be revisited.