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ASX rebounds as banks, mining sector gain

The Australian share market has closed higher as the heavyweight mining and financial sectors shrugged off their morning losses.

AVZ increases Manono stake

AVZ Minerals has increased its stake in the Manono lithium and tin project by 5 per cent for US$5.5 million from Datchom Mining.

LNG flowing at Pluto again

Woodside Petroleum has announced it has restarted production at its Pluto LNG plant, following maintenance delays at the plant.

Kobelke passes away aged 69

Former Western Australian government minister and Labor MP John Kobelke, who served in state parliament for nearly 25 years, has passed away aged 69.

$2.3 billion Navitas buyout takes effect

The $2.3 billion takeover of Navitas by private equity firm BGH, AustralianSuper and the global education provider's former chief executive Rod Jones is now legally binding.

Hylea shares skyrocket nearly 600%

Shares in West Perth-based Hylea Metals were up 592 per cent today after the junior announced it acquired a 65 per cent stake in Paladin Energy’s Kayelekera uranium mine in Malawi.

Morrison vows to pass tax cuts, fight regulation

Scott Morrison vowed to roll back regulation, pass tax reform and fight militant unions in his first major economic speech since the LNP’s surprise election victory this past month.

Labor offers government deal on tax cuts

Tax cuts could be made law as early as next week if the Morrison government meets Labor at the negotiating table.

SMEC, GHD win $30m PTA works

The Public Transport Authority has awarded an engineering services contract for its network and infrastructure division to SMEC and GHD.

ACCC concerned about AHG takeover

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

Barminco wins $800m Africa contract

Ausdrill’s underground contractor subsidiary, Barminco, has been awarded a five-year underground mining services contract at a copper mine in Botswana worth around $800 million.

Metcash back in profit but underlying sags

Metcash has swung to a $192.8 million full-year profit after cycling through its South Australian contract impairments, but its share price has taken a tumble after a decline in food earnings and higher finance costs weighed on the IGA supermarket supplier's underlying result.

ASX dips as only miners, telcos eke gains

The Australian share market has opened lower, with every sector except materials and telecommunications slipping into the red.

Shareholders welcome Flinders changes

Flinders Mines says it will ensure shareholders remain fully informed, less than a month after Business News revealed concerns about its transparency.

Morning Headlines

War on red tape to boost economy

US oil prices rose 10 per cent last week

Oil futures rose about one per cent on Friday, with US crude up 10 per cent and global benchmark Brent gaining 5 per cent in the week, on fears the United States could attack Iran and disrupt flows from the Middle East - an area which provides more than a fifth of the world's oil output.

Gold price hits six-year peak

Gold prices surpassed $US1,400 on Friday before retreating, still holding near a six-year high on the US central bank's dovish stance on monetary policy.

ASX drops despite mining and energy gains

The Australian share market has closed lower for the first time in three days, with all sectors in the red except for energy and mining stocks.

Lynas sticks to stockpiling strategy

Lynas Corporation won't cash in on the sharp short-term increase in rare earths prices related to the US-China trade war, saying it will stick to the long-term strategy it announced last month.

Property Council wants density debate changed

A report commissioned by the Property Council of Australia has found many Perth residents value the benefits of density.

Mark my words podcast

PODCAST: Mark Pownall and Matt Mckenzie discuss new Liberal policies, Forrest property investments, Julie Bishop, state wages policy, Committee for Perth, supermarket battle, microgrids, and our special report on indigenous business.

TADWA acquires TL Eng unit

Bassendean-based company Technology for Ageing and Disability WA has acquired the mobility division of TL Engineering.

Altura shares leap on production turnaround

Shares in Altura Mining have surged 37 per cent since late Wednesday, after the company announced positive production results and its struggling former biggest investor sold its remaining stake in the company.

ASIC reviews itself over Sterling collapse

An internal investigation is under way at the corporate watchdog over the collapse of investment company Sterling First, which Business News first revealed had entered administration last month.

Meridian Global giving inspiration

The donation that giving circle Meridian Global Foundation provided to mental health charity zero2hero five years ago shows the impact targeted giving can have.

Miss Chow’s continues rapid expansion

The self-described dumpling queen of Perth is set for a busy few weeks, with four new venues under the Miss Chow’s Group banner set to open by the end of July.

Waterfront living at Champion Lakes

Yolk Property Group is developing a 161-lot lakeside residential estate at Champion Lakes that will feature innovative housing products, a recreational and hospitality precinct and an aged care facility, in partnership with Southern Cross Care on behalf of the Metropolitan Redevelopment Authority.

Minister seeks axing of construction union

Industrial Relations Minister Christian Porter says the peak construction and mining union should be deregistered and he's prioritising laws that could help make that happen.

ASX opens flat despite Wall Street gains

The Australian share market has opened flat despite gains on Wall Street overnight.

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