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The Australian share market has closed at a four-week high after investors decided it was time to buy back into beaten-down banks, and the major miners and energy stocks made solid gains.

The West Coast Eagles and SGIO have decided to terminate their 31-year partnership, after announcing today that the insurer would be ending its major sponsorship at the end of the season.

BHP's local boss has said more than 75 per cent of work on the new South Flank mine will be sourced within Western Australia, as CPB Contractors announced it had won a $260 million contract on the $4.5 billion project.

Chevron has today announced that the second processing train at its Wheatstone project in the Pilbara has started production of liquefied natural gas, meaning all five trains at its two giant Western Australian projects are now in production.

Decmil Group has announced a $NZ125 million ($116 million) contract extension in New Zealand, while also flagging a number of cost pressures expected to impact earnings.

Australia's corporate watchdog has started legal action against Westpac over poor financial advice provided by one of the bank's former financial planners, Sudhir Kumar Sinha.

The environmental watchdog has recommended conditional approval to US-based Albemarle Corporation's proposed 100,000 tonnes per annum lithium refinery near Bunbury.

Welshpool-based MACA has been awarded a $30.2 million state government contract for roadworks in the Pilbara region.

Perth investor Tony Grist is set to take charge of US-focused 3D printing company Robo 3D, which has announced the acquisition of a US software company operating in a related field and major cost cuts in its existing business as it seeks to achieve breakeven trading.

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss BHP's new iron ore mine, plus more good news on lithium and nickel, the battle over Atlas Iron and shipping rights at Port Hedland, Perth house prices – which suburbs have delivered the best long-term returns, and our special report on infrastructure.

The University of Western Australia has big plans for its newly established Public Policy Institute, with hopes its research will have a powerful, real-world impact.

The state's two leading arts festivals have a large role to play in the cultural and creative vibrancy of Perth during the summer months, according to their impact reports released this week.

Opinion: A big weekend of by-elections could have been avoided if tighter candidate guidelines were in place.

The Australian share market has rallied in early trade thanks to higher commodity prices boosting the miners and a strong start from the big banks after a positive lead from Wall Street.

Gold prices have risen to a one-month high after the European Central Bank pledged to keep interest rates steady through to the northern summer of 2019 and investors fret over weak Chinese data.

Oil prices are mixed, with Brent slipping and WTI gaining, as a stronger US dollar weighs and a key supply-setting meeting of the Organization of the Petroleum Exporting Countries looms.

The Australian dollar has slipped below 75 US cents, dropping more than half a cent as the greenback soars with the US dollar index up 1.1 per cent.

Fed hikes put squeeze on banks

A second mining major has given the green light to a big iron ore development in a month, with BHP's board approving the $4.5 billion South Flank development on Thursday.

Rooftop solar capacity across Perth and surrounds will nearly triple in the next decade, to be about 2.3 gigawatts, as the Australian Energy Market Operator confirmed current capacity and demand side management was sufficient to meet forecast demand on the South West Interconnected System power network.

Australian shares have closed the day weaker after soft local job figures and weak economic data out of China weighed on a market already under pressure from overnight falls on Wall Street.

Businesses and farmers see a bright future for the hemp industry in WA following recent legislative changes, but the fledging sector needs support.

David Hohnen has been at the top of his game for two decades, and is one of many quality local businesspeople named in the Queen's Birthday honours this month.

The Western Australian government has downplayed security worries around the expected award of a $120 million Public Transport Authority contract to Chinese telecommunications giant Huawei.

Atlas Iron has disclosed it no longer holds exclusive port development rights at Port Hedland that were central to the takeover battle that has involved three mining heavyweights buying shares in the company.

The former executive officer of a Western Australian Aboriginal corporation has been ordered to pay more than $430,000 in compensation and penalties after he borrowed money from the non-profit entity that he couldn't repay.

Melbourne-based fertiliser and explosives manufacturers Incitec Pivot and Orica have continued their battle for iron ore contracts in the Pilbara, with Incitec winning a five-year supply deal with Fortescue Metals Group.

Iron ore miner Roy Hill has connected its Port Hedland operations to Horizon Power's North West Interconnected System following the installation of extensive underground facilities, which began in 2016.

New data out today shows female participation on ASX 200 boards has increased to 27.7 per cent in May, however five companies, including Perth-based Ausdrill, still have no female directors.

Western Australia's unemployment rate fell slightly in May to 6.4 per cent despite the local economy losing nearly 2,000 jobs, according to the latest data from the Australian Bureau of Statistics.

The corporate watchdog has launched legal action in the Federal Court against former Quintis managing director Frank Wilson, alleging he failed to disclose the loss of a major contract in 2017.