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Aust shares close higher on banks, miners

Australian shares have closed higher on Thursday, with banks and miners leading strength though broader market gains were checked by generally subdued regional markets amid trade war worries.

WA tourism continues to slide

The latest international tourism stats show a further decline for Western Australia despite positive results for the national market.

Housing data shows 10-year WA decline

Two reports out today highlight the weakness in WA property prices over the past decade, including dramatic falls in some regional pockets, but the upside is the state has the most affordable housing across the nation.

Whitehead to depart WASO

Craig Whitehead will step down from his role as West Australian Symphony Orchestra chief executive in November after 10 years in the position.

WA unemployment declines 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.

Appbot embraces AI for new service

Perth tech startup Appbot, which counts 35 per cent of the world’s top charting app developers as customers, has turned to artificial intelligence to develop a new service that helps organisations manage large volumes of feedback.

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.

Successful sea trial for Veem

Marine technology company VEEM has announced successful sea trials of its gyrostabilisers by Netherlands-based shipbuilder Damen Shipyards.

Poseiden flags $56.7m restart at Black Swan

Poseidon Nickel has released a feasibility study confirming the viability of restarting its mothballed Black Swan project near Kalgoorlie, with an estimated capital expenditure of $56.7 million.

Swift announces WA contracts

Bentley-based communications company Swift Networks Group has announced a number of new contracts, including infrastructure works at Iluka Resources' Cataby project and a 12-month extension at AngloGold Ashanti's Tropicana facility in Kalgoorlie.

Woodside lifts Q2 revenue 20%

Woodside Petroleum said on Thursday that revenue in the second quarter rose 20 per cent, helped by the ramp-up of the Wheatstone liquefied natural gas (LNG) project and higher oil prices.

Howard Park finds natural fit

Howard Park Wines has signed up as a new sponsor for the West Australian Ballet’s upcoming season of Tchaikovsky and The Nutcracker, with the winery having deep roots in the art form.

Know-alls tend to come up empty

Take the wrong attitude into a sales meeting and your prospect will more than likely walk out in search of a better deal.

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.

Morning Headlines

Advara sale kicks off WA land titles process

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.

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.

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.

Navitas to close colleges in $130m restructure

Global education services provider Navitas has announced it will close colleges in the United States and the United Kingdom, as well as exiting its Australian health care training business, in a restructure of its careers and industry division.

BHP surge drives ASX to close higher

Australian shares rose on Wednesday after global miner BHP reported record iron ore output for 2017-18, which sent its shares up over 3 per cent in a boost to peers and overall sentiment.

NRW secures $176m South Flank contract

NRW Holdings has joined the likes of Clough, Decmil and CPB in securing work at BHP Billiton’s $4.6 billion South Flank iron ore project in the Pilbara, after announcing a $176 million contract to complete earthworks at the site.

Mod in $27m copper deal

MOD Resources has moved to full ownership of its T3 copper project in Botswana, after acquiring UK-based Metal Tiger’s stake of the project in a scrip deal worth $26.6 million.

O’Neill appointed Trinity principal

Trinity College has announced the recruitment of Darren O'Neill as its next principal, succeeding Ivan Banks, who announced his resignation in April and will step down after 12 years at the helm.

Growthpoint puts $91m into Perth office market

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth’s commercial office market.

Carnarvon jumps after staggering oil find

Shares in Carnarvon Petroleum were up 57 per cent today after the company revealed its joint venture partner Quadrant Energy had made an oil discovery described as staggering.

Northern Star exceeds FY18 guidance

Northern Star Resources has reported above-guidance gold production for the year to June, with plans to expand output beyond 600,000 ounces in 2019, while Blackham Resources posted improved results for the half year to June.

BHP iron ore output up 3%

BHP Billiton's iron ore production rose 3 per cent in the fourth quarter ended June 30 as productivity improved, cementing a record annual output as it set a bigger target for the current year.

Bankwest to close 29 branches

Bankwest is closing 29 branches along Australia's east coast and cutting 200 jobs, saying customers are increasingly using mobile banking.

Christie creates Perth’s next gallery

Respected South African-born artist and gallery owner Catherine Christie is on the cusp of launching a new gallery in Perth since moving to Western Australia five years ago.

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