Italy's Webuild has backed out of a conditional deal to buy struggling engineer Clough, plunging the 102-year old Perth-based company into administration.
The local bourse finished up 0.3 per cent, boosted by the likes of Fortescue, BHP and Rio Tinto as iron ore prices rose amid hopes of China's further reopening.
The local share market has risen 1.0 per cent to a fresh seven-month high after Jerome Powell suggested the Fed might soon moderate its rate-hiking campaign.
The manufacturing sector has finally contracted after three months of flatlining, in a sign that less than favourable economic conditions are now hurting.
A WA constable who took the police commissioner to court challenging mandatory vaccination rules has had a win, earning the right to stay on the payroll until a decision on his appeal.
The annual inflation rate has fallen to 6.9 per cent after the release of consumer price index data for October, after hitting 7.3 per cent the month before.
The local share market has finished down 0.4 per cent, with commodity producers falling as rare protests erupted in China over harsh COVID-19 lockdowns.
Reserve Bank boss Philip Lowe has admitted language around the 2024 interest rate forecast was not clear enough and apologised for the miscommunication.
The federal government has won praise for its response to an inquiry into the Juukan Gorge destruction but been panned by the group at the centre of the issue.
The local share market has risen for a second day in a row, hitting its best level since June 3 even as the RBA outlined all the risks to the domestic economy.
