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Clive Palmer awarded $US149m

Clive Palmer has scored a big win over his Chinese partner in the Sino Iron project, with Citic today ordered to pay the Queensland businessman royalties worth nearly $US150 million.

Mark my words podcast

In this Business News podcast Mark Beyer and Mark Pownall discuss shipbuilding, Landcorp/MRA merger, Margaret River Gourmet Escape, AHG, Sirona Capital and WA dynasties.

Construction starts at new $21m Girrawheen estate

Site works have commenced today at The Amble Estate in Girrawheen, where the Department of Communities, Yolk Property Group and Ventura Home Group have partnered to develop 4.2 hectares of underutilised land into an affordable residential community.

Westpac expands business banking arm

Westpac Bank has absorbed the Western Australian business banking operations of its wholly-owned subsidiary St George Bank, adding to a string of changes in the sector.

Dawson endorses EPA's MinRes report, decision pending

Environment Minister Stephen Dawson has endorsed the environmental watchdog’s rejection of Mineral Resources’ Jackson 5 and Bungalbin East iron ore project, however, the government is yet to make a final decision on the proposal.

Government signs charter with resources industry

The state government has signed an agreement with the mining industry to ensure social and economic benefits to the Pilbara community with a focus on pathways to employment.

Aust shares recover slightly to close flat

Australian shares have ended the day flat, following a slight recovery from heavy losses in early morning trade.

Myer suffers first strike on executive pay

Solomon Lew has struck a blow against Myer by securing a first strike against the department store chain's executive remuneration.

Rio extends iron ore deal with Sinosteel

Rio Tinto has again extended its joint venture agreement with Chinese state-owned steel company Sinosteel to sell its Pilbara iron ore.

$14m placement for Kalium

Kalium Lakes will raise $14.2 million in an oversubscribed share placement with plans to complete a bankable feasibility study and start early site preparation works at its Beyondie sulphate of potash project in the Pilbara.

$10m capital raising for Greenland

Greenland Minerals is set to raise $10.25 million through a share placement with the funds to be spent on technical optimisation and completion of permitting for its Kvanefjeld rare earths project.

Austal, Civmec positive on $4bn naval build

Perth companies Austal and Civmec are looking forward to working on the construction of 10 navy vessels at Henderson but the amount and type of work they will undertake is unclear after the federal government selected Germany's Luerssen as its preferred designer and builder.

Birimian in $12m placement

Lithium hopeful Birimian will tap investors for $12 million in a capital raising to fund the development of its Goulamina project in Mali.

China slide weighs on Aust shares

Australian shares are trading lower in early trade, with investors wary after a sharp decline in the Chinese markets on Thursday and with Wall Street closed for a public holiday.

Morning Headlines

Goldfields prefers a merger

US oil hits 2-yr high on pipeline outage

US crude has hit a two-year high in thin trade as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from US producers.

$A is higher against further weakened $US

The Australian dollar is higher against its US counterpart which has sustained further losses as investors trim bets on the outlook for US interest rate rises in 2018.

Gold steadies as $US weakens further

Gold prices have steadied to trade nearly flat after rising nearly one per cent in the previous session as the dollar extended its swoon amid reduced expectations for US interest rate hikes next year.

Market steady as banks fall, miners rise

The share market has closed flat as gains in the resources sector were offset by falls by the banks and consumer related stocks.

South32 issues warning on rising costs

Diversified miner South32 has again issued a warning about cost pressures, saying it expects raw material input prices to rise across the industry.

Design change for Swan River bridge

The state government has approved design alterations to the Swan River pedestrian bridge in an attempt to cut $4 million in construction costs, while also announcing further delays to the bridge’s opening date.

Cyber security concerns

Australian businesses are underprepared for serious data breaches due to a lack of investment and awareness of cyber security, Ernst and Young’s latest global information security survey has found.

Aussie to expand WA presence

Mortgage broker Aussie is bullish on the Western Australian property market, with the national operator aiming to add four new stores and more than 20 brokers in the state over the next two years.

Business Advisers - Zion Ong

PODCAST: Mark Pownall talks to Alyka co-founder Zion Ong about current trends in digital marketing.

Sirona Capital makes South Perth move

Local developer Sirona Capital has partnered with Singaporean-owned property management company CEL Australia to deliver a new luxury apartment tower in South Perth.

WA businesses get worse on late payments

Western Australia was the only state in the country to record an increase in late business payment times for the September quarter, new data has revealed.

Bridgestone gets technology spinning at new centre

Japanese tyre maker Bridgestone opened a $10 million facility in Port Hedland last week that will apply remote sensing and big data to detect wear on the mining fleets and conveyors of its Pilbara customers.

Margaret River Gourmet Escape set to end

Western Australia's premier food and wine event, Margaret River Gourmet Escape, will be held in its current form for just one more year, with the state government planning a reconfigured event that includes the Swan Valley in 2019.

AHG in $400m logistics sale

Automotive Holdings Group has sold its underperforming refrigerated logistics business to Chinese conglomerate HNA Group for an enterprise value of $400 million.

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