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Morning Headlines

Plan needed to avoid ‘infrastructure chaos’

Oil prices up 4.5% on US crude stocks draw

Oil prices rose 4.5 per cent a barrel overnight to their highest level in more than a month after US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm.

Gold up after Powell remarks hit US dollar

Gold prices recouped losses to rise more than one per cent overnight as the US dollar slid after US Federal Reserve Chairman Jerome Powell fanned expectations of an interest rate cut, citing risks to the US economy.

ASX moves higher ahead of Fed chief's talk

The Australian share market has closed higher as every sector except for the miners rallied ahead of highly anticipated testimony by the US Federal Reserve chairman Jerome Powell.

Dexus’ $200m redevelopment set for approval

Dexus’ $200 million Carillon City redevelopment is set for Development Assessment Panel approval tomorrow, which will make it the third major retail upgrade in Perth’s CBD in recent years.

Black Swan reveals financial strain

WA’s major theatre company has reported a sharp fall in box office sales for the fourth year in succession, along with a small operating surplus, with a big donation from Minderoo Foundation helping to bolster its financial position.

Reg Howard-Smith appointed Waste Authority chairperson

Former Chamber of Minerals and Energy of WA chief executive Reg Howard-Smith has been appointed chairperson of the Waste Authority for a three-year term, replacing Marcus Geisler, who had served in the role since 2008.

Lithium juniors to raise $24.5m

Piedmont Lithium has raised $21 million via a share placement to complete the definitive feasibility study for its namesake project, while Marindi Metals has tapped investors for $2.5 million, and Koppar Resources for $1.1 million.

Dacian shares rebound after mine update

Shares in Dacian Gold have rallied to recover some ground from a significant fall last month, as the company released an update to its Mt Morgans mine plan, which noted significant potential to increase its annual production rate.

NAB facing potential super class action

National Australia Bank could face class action proceedings over excess superannuation fees levied by its wealth arm.

WA's space industry gets fed funding boost

The federal government has signed a memorandum of understanding to invest $6 million in Western Australia's space industry so the state can play a significant role in the broader national expansion plan.

Community connection works for students at St Stephen’s

Donna Lund faced a workplace dilemma in 2016, working as a career practitioner at St Stephen’s School. she had found businesses increasingly reluctant to take on students for work experience.

Self-care essential for school leaders

OPINION: A failure to take care of one’s own wellbeing will quickly blunt a leader’s capacity to do what’s best for others.

$6m of international marketing deals for WA

Tourism Minister Paul Papalia today announced a suite of international marketing campaigns as part of what the government is calling the biggest international marketing push in the state's history.

Fleetcare among WALGA contract winners

Fleetcare will join Easi and Fleetnetwork, both also based in Westen Australia, as a preferred supplier of fleet management services for local governments across the state.

Contracts awarded for $55m housing program

The Department of Communities has awarded four contracts as part of a new support program for Aboriginal housing and public housing clients.

Almost all ASX sectors join opening rally

The Australian share market has jumped at the start of trade as almost every sector joined an early rally.

Oil rises on supply cuts, UK-Iran tensions

Oil futures rose overnight as Middle East tensions and OPEC supply cuts kept global benchmark Brent crude above $US64 a barrel, while gains were limited by the US-China trade dispute that has dragged on the global economy and crimped oil demand.

Gold edges up from one-week lows

Gold edged up overnight after falling to a one-week low earlier in the session as investors used the drop in prices to buy the yellow metal, with bullion holding a key technical level.

Morning Headlines

High-level support for Woodside on LNG

Banks, tech stocks drive ASX lower

The Australian share market has closed down for a second day as banks and tech stocks dragged on the market.

Altura and Pilbara sign sales deals

Altura Mining and Pilbara Minerals have struck offtake agreements with Chinese firms for lithium concentrate from their respective Pilgangoora projects.

Minister suspends Port Hedland council

Local Government Minister David Templeman has suspended the Town of Port Hedland council following ongoing complaints, appointing a former state MP as commissioner to administer the town.

Private M&A boosts deals flow

The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.

Legend strikes deals with IGO and Creasy

Legend Mining has raised $9.8 million via a share subscription agreement with Independence Group, and signed joint venture agreements with IGO and Mark Creasy’s Creasy Group at Fraser Range.

Angels are invested in outcomes

Greg Riebe and the Perth Angels have been working for the past decade to grow the angel investment sector in WA.

Kingwest buys gold projects for $8m

Intermin Resources has reached an agreement to sell its Menzies and Goongarrie gold projects for a cash-and-scrip consideration of $8 million.

BGC assessing sale of building materials units

BGC Australia is exploring the divestment of its fibre cement and plasterboard businesses, picking up on a sales process it deferred earlier this year.

Worker hurt at troubled WA tunnel project

Another worker has been hurt at the trouble-plagued Forrestfield Airport rail link project in Perth.

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