Virgin Australia bondholders have put forward a recapitalisation proposal for the struggling airline, seeking to knock out rival offers from two US private equity firms.
Oil futures slipped overnight as the market braced for reports expected to show swelling US crude inventories, which pulled prices back from the highest levels since before the coronavirus pandemic slammed fuel demand.
Gold prices surged to their highest mark since October 2012 on Tuesday, driven by weakness in the US dollar and widespread monetary stimulus packages by central banks as a jump in coronavirus cases dented the economic outlook.
The Australian share market has closed marginally higher after dropping and then rebounding over uncertainty about the status of the US-China trade deal.
Mining contractor Perenti has released a lower full-year earnings guidance, sending its shares down 10 per cent at the ASX open, despite bringing back a $15 million interim payout.
Shares in Western Areas closed up 16 per cent today after the nickel producer released results from its first drill hole at the Sahara prospect, located at the company's Gawler project in South Australia.
Perth-founded software developer Canva has successfully raised $US60 million ($87 million) from venture capital investors, nearly doubling its valuation to $US6 billion.
Kalamazoo Resources was trading up to 55 per cent higher on the ASX today after announcing the completed purchase of Northern Star Resources' Ashburton gold project in the Pilbara.
With_Architecture Studio has secured the contract to design a $60 million secondary school in Piara Waters, which will open to year seven students in 2023.
Georgiou Group and NRW Contracting are among three consortia shortlisted to widen Mitchell Freeway for southbound road users, with the $76 million project jointly funded by the state and federal governments.
The resources sector has welcomed the federal government's decision to invest a further $125 million into an exploration program led by Geoscience Australia, which has now been expanded to cover exploration across the country.
Woodside Petroleum has promoted four executives in its leadership team, with Meg O'Neill to be executive vice-president of the merged marketing and developments divisions.
The Australian Securities and Investments Commission is suing the Commonwealth Bank and subsidiary Colonial First State Investments over a banking royal commission finding that the latter paid bank staff to promote a superannuation product to customers.
Woolworths expects full year earnings could be 2.7 per cent lower after it outlined one-off charges worth $591 million for restructuring and staff underpayments and incurs additional costs related to COVID-19.
Oil was up 2 per cent overnight on tighter crude supplies from major producers and as coronavirus lockdowns kept easing despite a record rise in cases globally.
Gold prices climbed 1 per cent overnight to hit the highest level in more than a month, as investors took refuge in the safe-haven metal after an uptick in coronavirus cases dampened hopes for a quick economic recovery.
OZ Minerals is set to gain full control of the West Musgrave nickel-copper asset in Western Australia after announcing a friendly takeover of project partner Cassini Resources.
As the state government focuses on streamlining approvals for large-scale apartment projects, some property developers are hoping the ‘missing middle' won't be overlooked.
Developers are pushing ahead with plans for new projects, hoping recent government initiatives aimed at stimulating the sector will help cushion any further COVID and economic blows.
EHR Resources has launched a $12 million capital raising to fund diamond exploration overseas, while Rumble Resources is raising $6 million to fund its next gold drilling program in Western Australia.
The state government will remove more coronavirus-related restrictions this weekend, with limits on mass gatherings eased and major sport and entertainment venues to reopen, though WA's borders will remain closed.
Atlas Iron chief executive Sanjiv Manchanda was among the biggest fundraisers in Australia for this year's CEO Sleepout, helped by a sizable donation from Atlas' owner, Gina Rinehart.
