News

Boral has halved its interim payout on a 40 per cent first-half profit dive, with the troubled building materials firm weighed down by higher costs and weak housing construction activity in Australia and South Korea.

Australia's share market has hit a new high amid a slew of mixed local earnings results and positive leads from offshore.

Lithium still a good bet despite dip

Oil prices gained more than 2 per cent overnight as worries eased about demand declining due to the spread of coronavirus cases in China.

Gold has risen, holding above $US1,600 per ounce, as worries over the new coronavirus and its impact on global growth boosted safe-haven demand, while palladium continued its record run driven by short supplies of the metal.

The Australian share market has clawed back its losses from earlier in the week to hit a fresh all-time closing high - even as five more companies announced their earnings had been affected by the coronavirus epidemic.

Vocus shares have risen after the broadband provider said it had made progress digging out of its mountain of debt and had delivered on major projects as part of a three-year turnaround.

Western Australia's tourism industry could receive a much welcomed boost in the coming months, as Princess Cruises diverts several of its routes to Australia due to port closures throughout Asia.

Crown Resorts has posted net profit of $173 million for the year to December 2019, an 11 per cent drop on the previous period that chief executive Ken Barton attributed to mixed trading conditions across various arms of the business.

Britain's EG Group had offered to acquire Caltex Australia for $3.9 billion in cash and separate shares to be issued in a newly listed company on the ASX.

Australian shares have opened flat amid mixed local news and after US markets and oil slid overnight on another coronavirus scare.

APA emerges as suitor for part of Woodside stake in Pluto-2 LNG plant

Gold has surged more than 1.0 per cent to fetch more than $US1,600 an ounce as Apple's surprise warning about the impact of the coronavirus outbreak fuelled concerns about global economic weakness, driving investors to lower-risk assets.

The Australian share market has finished marginally lower for a second day as investors digest local profit results in the absence of strong offshore leads.

Shares in Seven West Media have dropped to a record low after the media company posted a $67 million first-half loss as Australia's TV market continued its rapid decline.

Australian shares have fallen across almost right across the board as investors react to local profit results in the absence of strong offshore leads.

Gas giant calls on government to take charge on emissions

Oil prices inched up overnight as concerns over the economic fallout from the coronavirus outbreak in China were offset by expectations that potential production cuts from major producers could tighten global crude supply.

Gold prices have eased in a thin volume trade as risk appetite improved after China took further efforts to limit the economic impact from the coronavirus outbreak.

The Australian stock exchange has bounced back from its early losses to finish the day nearly flat as the big banks dragged on the market.

Car dealers are reeling from the "huge blow" of General Motors retiring the Holden brand in Australia, as the peak dealership group calls for regulations to protect businesses.

Rio Tinto has announced the development of a $US98 million ($A144 million) solar plant at its Koodaideri mine in the Pilbara, which is expected to supply around two thirds of the mine's average electricity demand once completed.

Mandurah Magistrates Court has hit Queensland-based property manager Asset Realty with an $80,000 fine, for failing to lodge tenancy bonds on time as well as falsifying dates on records.

Bendigo and Adelaide Bank has launched a $300 million capital raising and slashed its interim dividend as rising costs weigh heavily on its first-half result, while NAB says it will raise about $750 million to refinance debt, as it seeks to meet toughened capital requirements.

Australian shares have opened weaker amid investor caution after a strong end to the last week.

No onus on us: Woodside

Oil prices rose over 1 per cent on Friday, posting their first weekly gain since early January.

Gold prices rose to the highest level in more than a week on Friday, on track for a weekly gain, as investors bet on the safe-haven metal to hedge against the economic impact of the coronavirus outbreak.

Beverage manufacturers have been informed of the prices for Western Australia's container deposit scheme on Friday, with the average price of a container starting at 11.65 cents.

The Australian share market has closed higher for a fourth day, with the benchmark index finishing just under a record closing high set three and a half weeks ago.

Woodside Petroleum has won a long-running contractual dispute with Melbourne-based explorer FAR over its purchase of a stake in the Sangomar oil project, off the coast of Senegal.

As recently as a fortnight ago, industry leaders and government officials were urging caution as the novel coronavirus swept through China, with representatives from Western Australia's tourism and education sectors confident the state was prepared to manage any possible fallout.