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Politics & the Economy

Gold nears week high on Brexit deal logjam

Gold hit a near one-week peak as investors sought cover from market turmoil after Britain's long-awaited draft agreement to leave the European Union was thrown into chaos, helping the metal hold its ground against a rising dollar.

Oil rises despite potential supply glut

il futures have risen, steadying after the week's steep losses as fuel stockpile declines in the United States helped offset concerns about a potentially oversupplied market next year.

Morning Headlines

RBA in housing market warning

Major shifts at top of biggest employers list

ANNIVERSARY SPECIAL: The annual Business News Biggest Employers survey has tracked changing employment patterns in WA over 13 years. This article is part of a special series to mark Business News' 25-year anniversary.

WA unemployment rate dips to 5.7%

Western Australia’s jobless rate has fallen to 5.7 per cent in October, while the national figure remains at a six-year low.

Gold price gains 1% on US dollar retreat

Gold rose one per cent overnight, helped by a slight retreat in the dollar following a rally and as some investors covered their short positions after the metal held the key $US1,200 level.

Oil rebounds 2% on talks over supply cut

Oil has bounced nearly two per cent, recouping some of the previous session's heavy sell-off, on the growing prospect that the Organisation of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up the market.

Morning Headlines

Super stoush looms over default cover

Wall St extends losses as financials drag

Wall Street stocks have declined, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives.

WA wages growth slow

Wages growth in Western Australia is lagging the country, with ABS data showing the state's wages increased just 1.6 per cent year on year, compared with a national increase of 2.3 per cent.

WA to pay down debt with GST windfall

The state government has confirmed it will use an estimated $1.7 billion GST windfall to pay down its debts, after the legislation cleared federal parliament today.

Oil price slumps 7% to one-year low

Oil's price slide has accelerated, with US futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply.

Morning Headlines

Morrison’s $2b boost to SME loans

Gold price climbs as dollar rally pauses

Gold shook off earlier losses to move back above the key $US1,200-per-ounce level, benefiting from a slight retreat in the dollar after a rally driven by the US interest rate outlook and Brexit talks.

New CEO for City of Perth

The commissioners running the City of Perth have appointed an acting chief executive, with local government consultant Murray Jorgensen set to take the reins.

Investment sets economic growth agenda

ANNIVERSARY SPECIAL: The growth in household disposable income provides a graphic illustration of the effect of 25 years of technological change and investment in WA. This article is part of a special series to mark Business News' 25-year anniversary.

Oil price weakens after Trump supply tweet

US crude prices turned negative as President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand.

Morning Headlines

Frydenberg doubles limit on staff shares

Apple, Goldman Sachs drag on Wall St

Wall Street's major indexes declined, with the S&P 500 weighed by technology and financial stocks as shares of Apple and Goldman Sachs came under pressure.

Gold at one-month low on stronger dollar

Gold slid to its lowest level in a month overnight as the dollar rose to 16-month highs, boosted by the US Federal Reserve's hawkish interest rate policy and political uncertainty in Europe.

Successive premiers grapple with state’s volatile economy

ANNIVERSARY SPECIAL: A boom-bust economic cycle and wrangles over GST funding are two of the challenges to have faced WA’s political leaders over the past 25 years. This article is part of a special series to mark Business News' 25-year anniversary.

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