Politics & the Economy

Oil strengthens as US dollar slips

Oil prices rose at the end of last week as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about US-China trade tensions and supply increases.

Trade worry dampens earnings on Wall St

US stocks have closed slightly lower as escalating trade anxieties driven by US President Donald Trump's latest tariff threats against China offset a string of robust earnings led by Microsoft.

Morning Headlines

WA economy ‘out of the woods’, says economic forecaster

Gold lifts after Trump slams strong dollar

Gold prices rose from one-year lows and spot platinum increased more than three per cent after US President Donald Trump criticised the strength of the dollar and interest rate increases by the Federal Reserve, pushing the greenback sharply lower.

ASX closes higher on banks, energy gains

Australian shares have ended the week higher thanks to gains in financials and energy stocks, even as Friday's session was buffeted by an earlier slide in the Chinese yuan and concerns over escalating global trade tensions.

Wall St down on weak earnings, trade fears

US stock indexes are trading lower as a batch of weak quarterly reports dampened a robust earnings season and trade tensions rose on news the European Union may retaliate if the US slaps tariffs on EU cars.

Gold prices dip to one-year low

Gold prices sank to a one-year low on Thursday as the US dollar rose after comments from Federal Reserve Chairman Jerome Powell that reaffirmed expectations more US interest rate increases are on the way this year.

Morning Headlines

Women lead WA jobs charge

Oil prices slip on oversupply talk

Global benchmark Brent crude dipped on Thursday as concerns about mounting supply returned after a brief rally earlier in the session on comments that Saudi Arabia's exports would fall in August.

WA unemployment falls to 6.1%

After reaching a 16-year high in March, Western Australia’s unemployment rate has enjoyed its third straight month of decline, with nearly 3,000 jobs added across the state in June.

Forethought needed for lithium boom dreams

Lithium advocates have been cautioned to separate facts from hype as it is not yet clear if battery manufacturing in Western Australia will be practical, although refining plans should proceed immediately, according to Mckinsey & Co partner Prabhav Sharma.

Tax changes key to investment flow

Lower company tax rates and changes to power pricing are among possible moves that would support the state’s economic development, according to local academic Peter Hartley.

Oil rises on expected increased demand

Oil prices rose on Wednesday after US government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in US crude inventories and US crude oil production hitting 11 million bpd for the first time.

Gold steadies after hitting one-year-low

Gold prices have steadied as the US dollar eased off a three-week high, following an earlier drop in bullion to a one-year low as bullish comments from US Federal Reserve Chair Jerome Powell boosted the greenback.

Morning Headlines

Advara sale kicks off WA land titles process

Amazon at $900b as Wall Street bounces

The S&P 500 is hovering at five-month highs with gains in financial and industrial stocks due to strong earnings from marquee companies offsetting losses in the technology and energy sectors.

Fed chief's comments push Wall St higher

Wall Street has risen as Federal Reserve chairman Jerome Powell's optimistic view on the US economy and solid earnings from Dow component Johnson & Johnson lifted expectations of a robust second-quarter earnings season.

Morning Headlines

Lithium past its peak as price slides

Westport planning continues long port saga

With public consultation on the state government’s Westport project starting this month, we look back at more than 20 years of planning for an outer harbour at Kwinana.

Energy shares fall, financials bounce

The S&P 500 has ended slightly lower following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America's results reinforced expectations of a strong US earnings season.

Morning Headlines

Westpac to quit SMSF lending