Financial Services

Picking over the carcasses of failed companies and seeking to bring them back to life is something of a specialty in the Western Australian corporate scene, where the appetite for risk and a ready supply of listed shells have spawned a unique industry.

Western Australia's largest companies have delivered diverse results in a survey of corporate governance standards.

The market may be tired of hearing about Andrew Forrest's ever-growing paper fortune, but the continuing rise of Fortescue Metals Group Ltd is astounding.

Three months after it last revised its Capital Square project, developer Saville Australia is in discussions with four ASX-listed property investors with a view to selling the site.

Gage Roads Brewing Company co-founder Peter Nolin has embarked on a radical career change to take over from John Longley as CEO of the Fremantle Chamber of Commerce.

Subiaco-based Capital Intelligence Ltd plans to raise $2 million through a share placement, with funds to be used for working capital and expansion strategies.

Neptune Marine Services Ltd has downgraded its net profit after tax expectations to between $10 and $12 million before non-cash adjustments, for the year ended June 30, 2008.

The state government will increase funding to the private sector for apprenticeship training to $57 million, on top of the existing $20 million already available to private providers of traineeships.

Action on corporate collapses; Bankwest says it's safe despite sale rumours; Brierty sticks with same line as exchange steps up pressure; Metcash profit leaps but warns on volatility; Suncorp takes a $15m punt on WA's sunshine

Exploration company TNG Ltd disclosed today that it faces a $2.1 million claim from the Commonwealth of Australia over a 10-year old dispute involving Kanowna Lights NL.

South Perth based bamboo flooring company Style Ltd has appointed Peter Torreele as chief executive officer effective immediately.

Western Australia, South Australia and Queensland experienced the highest salary increase in Australia, a survey has found.

Vmoto has raised $7 million through a share placement, with funds to be used to complete the acquisition of CSR Motorcycles in Spain, as well as to finalise payment for Stage 1 of its manufacturing facility in Nanjing, China.

Herald Resources Ltd Directors have supported a revised $2.60 to $2.65 cash offer from Tango Mining Pte Ltd, which values the company at almost $524 million.

Grains producers are in a strong position to expand production and boost productivity because of recent capital investments in land, plant and machinery, according to a new ABARE report.

Joe Gutnick's sister Pnina Feldman looks to be setting herself for a second ASX listing this year, with her company Australian Gemstone House Ltd lodging notice of a prospectus to raise $30 million.

Private equity manager, Ironbridge Capital, has acquired three specialist drilling businesses valued at $200 million that operate in the high growth mining and infrastructure services sectors.

Midwest Corporation Ltd has told shareholders their response to competing takeover proposals from Murchison Metals Ltd and Sintosteel will depend on whether they have a short-term or long-term investment horizon.

Platinum Australia Ltd have raised $31.8 million through a private placement to acquire an additional 10.75 per cent stake in its Smokey Hills platinum project.

Nedlands based Portman Ltd has again denied speculation it will bid to takeover Golden West Resources Ltd, despite applying for approval to increase its interest in Golden West from 14.9 to 19.9 per cent.

The merger of Lihir Gold Ltd and Equigold NL has been approved by Equigold shareholders.

Chinese steel maker Sinosteel Corporation has declared its $1.36 billion takeover offer for iron ore miner Midwest Corporation Ltd unconditional.

ANZ's $350m to settle Opes; Tycoon bets $120m on Mid-West union; Nickel miner Sally Malay in play, says MD; Well heeled jump into revamped Repcol; Brierty downgrades fuel litigation threat

China Metallurgical Group Corporation has received no objection from the Foreign Investment Review Board for its proposed acquisition of the Cape Lambert Iron Ore project.

Alchemy Resources Limited has entered into an agreement with Troy Resources NL to acquire the Three Rivers Gold Project for $2 million.

Perth based Elixir Petroleum Ltd will aim to raise $14.5 million through a share placement, with funds to be used for additional development of its gas project in the Gulf of Mexico, as well as to support projects in Sierra Leone.

Grand plan to build six island hubs off north Freo coast; We will not pay more for Midwest: Sinosteel; ASX probes Brierty over shock profit downgrades; Failed Opes was $721m short; Qantas axes routes on fuel pain

The Perth Convention Bureau has secured 10 conferences during the last two months that are expected to deliver $26.4 million of delegate spending to Western Australia.

Marylyn New is something of a Western Australian enigma. Raised to be a homemaker, Ms New has instead ended up as one of Perth's most colourful business people.

SUPERMARKET group IGA has secured the naming rights for the Royal Agricultural Society of WA's 2008 Perth Royal Show.

I had to get coffees for group of people at work last week, and I couldn't help seeing of it as a great example of how the world has changed.

Western Australian businesses carry about $251 million of the tangible costs of tobacco, a study commissioned by the Cancer Council of WA has found.