Politics & the Economy

BHP in $300m tax deduction dispute

Treasurer Ben Wyatt has said he does not think BHP Group has been a bad corporate citizen after it was today revealed the iron ore miner might owe up to $300 million to the state in royalties, the company’s third such battle in recent years.

ASX trading higher on early energy boost

Australian shares are higher as renewed US-China trade optimism lifts global equities, with the local energy and financial sectors particularly buoyant in early trade.

Investment drives optimism in CEO Survey

Leaders interviewed for the annual Business News CEO survey suggest that forward-looking decisions on energy policy and tax will be vital for WA’s future prosperity.

Report reveals further details of Kelly, fishermen's feud

Lobsters were sold for as little as $30 per kilogram under an initiative to encourage domestic supply, according to an unpublished government report which found the Local Lobster Program at least partially met two major objectives but also raised numerous concerns.

Asia shares edge up, following Wall Street

Asian shares have crept higher as upbeat bank earnings bolstered Wall Street, while an anti-climactic end to the latest chapter in the Brexit saga gave sterling a moment's peace.

Miners drag, but ASX ducks Brexit drama

Australian shares have largely avoided fresh Brexit vote drama to close the day higher, though mining shares weighed on the local market.

Kelly softens tone on lobster takeover

Fisheries Minister Dave Kelly has signalled he may well walk back plans to take control of about 17 per cent of an enlarged local lobster catch, saying his priorities would be an International Lobster Festival in Perth and a domestic quota.

ASX opens flat after Brexit deal defeat

The Australian share market has opened flat as market sentiment is pulled in opposite directions by optimism about a Chinese economic stimulus package, and pessimism about the UK House of Commons defeat of the Brexit deal.

Case for renewables, but coal will power on

Wind and solar generation backed by storage are competitive with coal and gas, according to a recent report by the CSIRO, but that does not mean coal-fired generation will be out of the picture.

Policy risk topping Australian concerns: Allianz

More than a third of Australian risk management experts believe legislative and regulatory changes are the biggest threat to local businesses this year, ahead of a federal election and growing economic protectionism overseas.

Female CEO for WA Treasury Corp

The state government's trend of appointing female leaders to run key agencies has continued, with Kaylene Gulich appointed chief executive of the Western Australian Treasury Corporation today.

Aust job vacancies rise 1.3% to new peak

Job vacancies in Australia edged higher in the three months to November to notch an all-time peak, hinting that demand for labour remains strong despite a low unemployment rate.

Morning Headlines

Industry super roars to the lead

State launches EOI for partial Landgate sale

The state government has hit a key milestone in the partial privatisation of Landgate, seeking a private sector operator to undertake automated land titling transactions.

Government blind in $70m lobster move

Opponents continue to blast government changes to lobster licensing arrangements as it emerges that, despite the state potentially pocketing nearly $70 million annually from the moves, a cost benefit analysis of the major policy shift unveiled in December was not undertaken.

Miners to lead WA employment boost

Employers are expected to add more staff in the first three months of 2019 than at any time in the past four years in Western Australia, according to new research by recruitment firm Manpower Group.

Record WA exports supporting national numbers

Western Australia exported its highest ever value of goods in a single month in November, as the nation posted another trade surplus.

ASX slides despite US-China trade optimism

The Australian share market is flat despite renewed optimism over US-China trade relations, with the big banks and supermarkets dragging in early trade.

Amazon, Netflix push Wall Street higher and Netflix have fuelled a second straight session of gains on Wall Street, as the resumption of US-China trade talks helped ease concerns that have pummelled the market in recent months.

Gold gains, palladium sets a new record

Gold has risen again, just below a more than six-month peak hit in the last session, as the dollar slid on reduced chances of further rate hikes by the US Federal Reserve, and as the United States and China resumed trade talks.

Oil lifted by OPEC cuts, steadying market

Oil prices have edged higher, rebounding further from 18-month lows reached in December, on support from OPEC production cuts and steadying equities markets.