News

Oil prices edged higher overnight as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal to end their trade conflict.

Gold fell for a fourth straight session overnight, hitting a two-week low as investors' appetite for riskier assets increased on renewed optimism that a resolution to the protracted US-China trade conflict will soon be reached.

The Australian share market has moved higher after signs that China is willing to raise penalties on intellectual property theft, a key sticking point in its trade war with the US.

Caltex Australia shares have jumped on plans by the fuels operator to launch a property IPO and float a 49 per cent stake in 250 retail sites.

The Australian share market has moved higher after a positive lead from overseas at the end of last week.

Bid unleashes nickel frenzy

Oil prices fell on Friday, pulling back from two-month highs as concern over US-China trade talks overshadowed expectations of an extension to OPEC+ production cuts.

Gold prices edged lower on Friday as the US dollar and Treasuries strengthened after data showed US manufacturing output and services activity picked up, limiting demand for the yellow metal.

The Australian share market has closed higher for the first time since Tuesday, despite Westpac dragging the financial sector down.

Poseidon Nickel has made two key additions to its board and management team as it moves closer towards the restart of its flagship Black Swan operation near Kalgoorlie.

Curtin University has officially opened its Midland campus, part of the Metropolitan Redevelopment Authority's plan to reposition the former railway workshops as a medical and education hub.

Metcash shares have dropped more than 10 per cent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August.

One in three Australians were losing out on $6 billion a year in super, a parliamentary inquiry has been told.

WeWork is laying off about 2,400 employees, almost 20 per cent of its workforce, as the office-sharing company seeks to drastically cut costs after it transformed from a Wall Street darling into a pariah in a matter of weeks.

The Australian share market has moved higher despite a negative lead from Wall Street and another fall from Westpac.

McGowan resists push to spend as debt pile shrinks

Oil prices rose more than 2.0 per cent overnight to the highest in nearly two months following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020 and fresh signs that China had invited US trade negotiators for a new round of talks.

Gold prices eased overnight as a report that Chinese officials had invited top US negotiators for a new round of talks rekindled some hopes regarding the US-China trade deal but mixed signals on the progress of talks limited bullion's losses.

The Australian share market slumped for a second day, with losses across the board as passage of a US-China trade deal appears less and less likely anytime soon.

Vango Mining has entered a non-binding agreement with China-based Nonferrous Metal Industry's Foreign Engineering and Construction (NFC) to provide $70 million for its Marymia project in the Mid-West region.

A Perth financial adviser who worked for two prominent firms including Godfrey Pembroke has been banned from providing services for four years.

Racing and Wagering Western Australia (RWWA) is withholding prize money to high-ranking bureaucrat Paul Whyte and his co-accused as the thoroughbred owners face accusations they stole tens of millions of dollars in taxpayer funds.

The Chamber of Minerals and Energy of WA (CME) has welcomed the federal government's plan to deliver new deregulation measures for Australian businesses, saying it could save Western Australian resources projects more than $23 million each year.

Westpac shares have hit a nine-month low after the prime minister urged Westpac to consider chief executive Brian Hartzer's position over the bank's money laundering and child exploitation scandal.

The Australian share market has slumped as the heavyweight mining and financial sectors both fell more than 1.0 per cent.

Minister on subs defensive

Oil prices climbed more than 2.0 per cent overnight after a better-than-expected US crude inventories report and as the Russian government said it would continue its co-operation with OPEC to keep the global oil market balanced.

Gold fell overnight, retreating from a two-week high hit earlier in the session, after the United States started issuing licences for some companies to supply goods to Chinese firm Huawei, rekindling hopes for trade negotiations that had shown signs of turning more contentious.

The Australian share market has suffered its worst day in nearly seven weeks, with the banking and energy sectors suffering especially sharp losses.

Cottesloe's Napoleon Street is the best performing retail strip in Perth, according to new research by Ray White, with vacancy dropping from 6.9 per cent to zero in two years to September 2019, while Subiaco, Leederville and Mt Lawley have had big increases.

St Hilda's Anglican School for Girls has purchased a 7.4 hectare property in Pemberton for its new Yeagarup Campus.

The widening of Mitchell Freeway near Joondalup and a train station at Lakelands are some of the new projects to be funded from a $940 million, four-year infrastructure stimulus package announced today.