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WA tech firm sacks CEO

Perth tech company iCetana, which has raised $11 million over the past 18 months to support its global expansion, has terminated the employment of its chief executive after identifying an alleged fraud.

Big miners lift Australian share market

Strong gains in the mining sector have lifted the Australian share market to finish the week higher as a major ratings agency upgraded its outlook on the country's credit standing and trade war worries recede.

Govt cuts back Christmas trading hours

The Chamber of Commerce and Industry of WA has lashed the state government’s decision today to reduce extended Christmas trading hours as applied last year.

Datacom wins $4.5m GovNext contract

Datacom has secured a $4.5 million contract as part of the state government’s GovNext ICT program.

WA wineries taste more success

Western Australian wineries have continued their recent run of success, with Howard Park’s Janice McDonald crowned the Gourmet Traveller winemaker of the year and Frankland Estate's Judi Cullam claiming the Len Evans award last night.

WA prospector finds $110k gold nugget

A massive gold nugget worth at least $110,000 has been uncovered by a prospector in the northern Goldfields, weeks after Canadian gold miner RNC Minerals made an even bigger discovery near Kambalda.

Podcast: CoreData research on consumers and banks

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

Rolek plans $5m IPO

West Perth-based Rolek Resources has launched a $5 million initial public offering, with the company planning a backdoor listing via Shaw River Manganese.

Mark my words podcast

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss government contractor failures, house prices, population growth, LNG revival, Austal, performance share winners, and our special report on tourism.

Strong profit for Insurance Commission of WA

The Insurance Commission of Western Australia has reported a 43 per cent rise in profit in the 2018 financial year, to $277.7 million, on the back of higher investment income, improving premium revenue, and lower claims.

ERA orders lower Western Power costs

An overnight decision by the Economic Regulation Authority will put downward pressure on power prices, with network operator Western Power ordered to further tighten its belt in the next four years.

Earbus gets the message out

The Earbus Foundation of WA has been recognised for its charity work and business structure.

Wentworth to influence WA Libs

Opinion: While the issue of gender quotas has been a winner for Labor, it remains a divisive topic within Liberal ranks, as the recent pre-selection for the Wentworth by-election indicates.

ASX follows Wall St to jump at the open

Australian shares have followed Wall Street's overnight rise, with the heavyweight materials sector again driving early gains despite metals prices dropping.

Morning Headlines

Morrison green lights $4.6b in schools funding

Industrials lead Dow to record high

Trade-sensitive industrial stocks have led the Dow Jones Industrial Average to a record closing high, the last of Wall Street's main indexes to fully regain ground since a correction that began in January.

Gold up as easing trade fears hurt dollar

Gold edged up to hit its highest in nearly a week as the US dollar slumped, its safe-haven appeal lessened by reduced fears over the near-term impact of Sino-US trade tensions.

Oil retreats as Trump tweets ahead of OPEC

Oil prices eased, pulling back after US President Donald Trump urged OPEC to increase production at its meeting in Algeria, and slowing bullish momentum that had previously propelled the market toward four-year highs.

UBS begins Perth rebuild

Global investment bank UBS is rebuilding its Perth office after a short hiatus, luring Tim Andrew from his Cottesloe boutique practice.

Softer notes on power competition

The state government appears to be continuing to back away from plans to introduce increased competition in electricity retailing, with Economics and Industry Committee chair Jessica Shaw saying she’d like to see more evidence it would reduce prices.

Supermarkets, banks drag on Aust shares

Supermarket and banking stocks have pulled the Australian share market lower, with international trade hostilities weighing on the indices.

DTI signs $19m contract

Perth-based tech company DTI Group has finalised a $19.1 million contract with manufacturing joint venture Alstom Ubunye to supply passenger information systems for nearly 600 trains in South Africa.

Falling revenue pressure for Synergy

Electricity retailer Synergy hit an after-tax profit of $24.3 million in the year to June, an improvement of $36 million, aided by about $140 million of state government subsidies, while increased uptake of household solar continues to put pressure on revenue.

WA population hit by interstate losses

Western Australia’s population increased by just 0.8 per cent in the year to March, continuing its recent trend of soft growth, while nationally population growth slumped to a two-year low, new data out today shows.

Ban on Perth financial adviser overturned

The Administrative Appeals Tribunal has today set aside a decision by the Australian Securities and Investments Commission to ban Robert Hutchison from providing financial services.

Tribune, Rand flag $250m payout

Shares in local gold stocks Tribune Resources and Rand Mining have soared today, after each announced special dividends worth a combined $250 million, following an adverse ruling by the Takeovers Panel on Monday.

Brickworks boost in WA

An improved result in Western Australia, despite challenging market conditions and continued falls in brick selling prices, has helped building materials company Brickworks boost underlying net profit to $223.7 million for the 2018 financial year.

Startups complete Plus Eight

The six-month Plus Eight accelerator program reached its 2018 culmination last night, as seven startups pitched their growth and expansion plans to a sold-out audience.

Coles, Woolworths announce milk levy

Customers will pay more for home-branded milk at Coles and Woolworths stores with the levy to be passed on to dairy farmers gripped by drought.

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