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Myer CEO buys up as shares surge

Myer chief executive John King has increased his stake in the beleaguered retailer, purchasing 100,000 shares a day after it posted a full-year net loss of $486 million.

Texas miner continues local nickel pursuit

Panoramic Resources has agreed to sell the Lanfranchi nickel project for $15 million to Texas-based Black Mountain Metals, showing the American business is still on the hunt for nickel opportunities in Western Australia.

RCT launches new mining tech

Kewdale-based RCT has installed its latest technology at AngloGold Ashanti’s Sunrise Dam gold mine, which gives an operator control of numerous machines from a singular station.

Decmil wins $150m QGC contract

Osborne Park-based Decmil Group has won a $150 million contract extension to provide upstream services in the Queensland coal seam gas space.

Retail ructions amid slowing sales

Opinion: Retailers face ongoing challenges, as sluggish sales square off with pay problems and online competition.

Beekeepers support Capilano takeover bid

The beekeeper-owners of Capilano Honey have thrown their support behind a private equity takeover bid for the Australian company.

Morning Headlines

Employers face $8b back pay bill for casuals

Tech stocks weigh, energy pares losses

The benchmark S&P 500 and the Dow Jones Industrial Average opened flat as gains in energy companies helped offset a slide in technology stocks, which weighed on the Nasdaq.

Brent crude reaches $US80 a barrel

Oil futures have risen, with Brent reaching $US80 a barrel, after a larger-than-expected drop in US crude inventories and as US sanctions on Iran added to concerns over global oil supply

Searle resigns from Dept of Communities

Department of Communities director general Graham Searle has resigned from the role, with the decision believed to be due to illness.

OpenDNA acquires new digital agency

Subiaco-based marketing business OpenDNA has completed a $2.5 million placement and announced it will acquire Perth-based Choose Digital and Chinese-focused RooLife.

Finbar buys out Harmony partner

Apartment developer Finbar Group has bought the final stage of the Symphony City development site in East Perth from its joint venture partner Ventrade Australia for $4.5 million.

RAC launches $3m seed fund

Startup businesses in Perth have access to a new source of funding after the Royal Automobile Club of WA launched a $3 million investment fund last night, while also disclosing it is a substantial shareholder in fast growing blockchain business Power Ledger.

Tech Scene - Reiwa

Reiwa has recently launched the reiwa.com app, which allows users to search for properties, find and compare local Reiwa agents, view home opens and shortlist their favourite properties and searches.

US-China trade worries weigh on ASX

The Australian share market has returned to its downward trend, closing lower on Wednesday after a rare gain a day earlier as US-China trade concerns again weigh on investor confidence.

State government talks up strata reform, Metronet

The state government is negotiating with the Liberal and National parties to facilitate the upper house passing its proposed strata reform legislation.

Phylogica in $9.1m recapitalisation

Shares in biomedical technology business Phylogica were up 13 per cent today after the company announced it had completed a $9.1 million recapitalisation.

NBN Co to pay ISPs for poor service

NBN Co will have to pay internet providers a $25 rebate for every late connection, fault repair or missed appointment under a new requirement enforced by the consumer watchdog.

Morrison satisfied no gender bullying in Lib spill

Scott Morrison is "absolutely satisfied" none of his MPs were bullied because of their gender during the recent leadership spill.

Kreepy Krauly, JWH named to hall of fame

Osborne Park-based manufacturer Kreepy Krauly and homebuilder JWH Group were last night added to Family Business Australia’s hall of fame.

$5m IPO for nickel, cobalt hopeful

Shares in nickel and cobalt hopeful Aldoro Resources will begin trading on the ASX tomorrow, after a $5 million initial public offering.

Myer shares fall after $486m FY loss

Shares in department store Myer have fallen to a two-month low after the embattled retailer reported a full-year net loss of $486 million.

ACCC approves $13bn APA takeover

The competition watchdog has approved a Hong Kong consortium's $13 billion takeover bid for APA Group, Australia's biggest gas pipeline company, on the proviso that four major assets in Western Australia are sold to new owners.

Games culture blurs boundaries

Games and associated technologies are increasingly finding a place in retail and public spaces, as the boundaries between play and work fall away.

Morning Headlines

WA tipped to arrest retail spending slide

Wall St flat, tech gain softens trade fear

US stocks have started the day with little change as gains in technology stocks helped the Nasdaq regain footing and curbed losses in the materials and industrials sectors after fears of an escalation in the Sino-US trade spat.

Oil up over 2% on concerns over Iran

Oil prices rose more than two per cent as US sanctions squeezed Iranian crude exports and after US crude oil production in 2019 was forecast to grow at a slower rate than previously expected, prompting supply concerns.

Volt Power loses biggest client

ASX-listed Volt Power Group has suffered a major setback after BHP suspended its long-runing service relationship with wholly-owned subsidiary Wescone Distribution, less than a year after Volt bought Wescone.

Lamont in for Langoulant at Committee for Perth

John Langoulant will retire as chair of advocacy group Committee for Perth in November, to be replaced by businesswoman Kate Lamont.

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