Latest Headlines

Energy, telcos hold ASX back at the open

There was little lead from Wall Street as Australian shares dipped at the start of a new trading week, with energy, healthcare, and telco stocks sapping the local bourse in early trade.

Morning Headlines

Treasurer injects $60m into bank watchdog

Delay in US-China trade deal hits stocks

Concerns that a trade deal between the United States and China may not be imminent have reined in a rally in world equity markets and reversed gains on Wall Street.

Oil dips after sanction-related waivers

Oil prices have fallen about one per cent and notched a weekly loss of over six per cent, as investors worried about oversupply after the United States said it will temporarily spare eight jurisdictions from Iran-related sanctions.

Gold dips as $US gains on solid jobs data

Gold has slipped as the US dollar regained some ground on the back of strong American jobs data, putting the metal on track for its first weekly loss in five weeks.

Gas, oil tax changes to rake in $6bn

The federal government expects to raise $6 billion over the next decade from changes to the taxation of Australia's big oil and gas producers.

Miners and health care stocks lift ASX

A late rally from mining and health care stocks has lifted the Australian share market into the black despite energy shares and the big four banks dragging on the index.

Theatre Trust leads big changes

Duncan Ord is overseeing major changes to the way in which the Perth Theatre Trust manages arts venues and the Perth Cultural Centre.

Broad wins $85m prison contract

CIMIC Group’s Broad Construction has secured an $84.8 million state government contract to complete an expansion at the Casuarina Prison south of Perth.

King River flags $2bn+ capex

King River Copper has put a $2 billion-plus price tag on its Speewah vanadium project near Kununurra, while TNG has appointed German group SMS to complete an engineering study for its vanadium project in the Northern Territory.

Mark my words podcast

PODCAST: In this podcast Mark Pownall and Mark Beyer discuss the lithium industry, tourism challenge, state strategies, Hancock Prospecting and Roy Hill, Power Ledger and Jemma Green, property market deals, Gascoyne Resources, ResApp and our special report on fund managers.

Orica reveals Burrup delay

Explosives manufacturer Orica has revealed technical issues at its half-owned ammonium nitrate plant in the Pilbara will cause a production delay of more than 12 months.

Report finds battery-making debate overcharged

A new report has cast doubt on Western Australia's suitability as a lithium battery-making hub, claiming low labour productivity, distance from major markets and difficulties sourcing the necessary material as barriers to any potential development.

Loans, WestConnex lift Macquarie profit

Macquarie Group has lifted first-half profit 5.0 per cent to $1.31 billion, helped by increased mortgage lending and its involvement in the NSW government's part privatisation of WestConnex.

International tourists bypass WA

International tourists spent nearly $250 million less in Western Australia during the 2018 financial year than during the previous 12 months, new data from Tourism Research Australia shows.

BGC offloads Aloft hotel

BGC Australia has agreed to sell the Aloft Perth hotel and associated office development in Rivervale to Singapore-based Hiap Hoe Ltd for $100 million, but is still chasing a buyer for a second, larger hotel it developed, The Westin Perth.

Bold choices required to secure prosperity

Opinion: A Committee for Perth report says the WA capital has dropped the ball, and lacks a strategy for its economic future.

Revenues rise on agribusiness opportunities

Seven of WA’s most prominent agribusinesses have grown their revenue by about 30 per cent, with increased demand from Asia the main driver.

Energy, financials drag on ASX at the open

Australian shares have fallen at the open despite overnight gains on Wall Street, with energy stocks slipping on falling oil prices, and the financial sector also dragging on the bourse.

Morning Headlines

Data stolen in cyber-attack on shipbuilder

Wall St climbs for third day

US stocks have risen for a third straight session as President Donald Trump said trade talks with China were "moving along nicely," reviving hopes that the two countries can resolve their trade dispute.

Oil drops on rising supply, economic gloom

Oil has fallen nearly 3.0 per cent, with US crude futures hitting lows not seen since April, due to growing concerns that global demand is weakening at a time when output from the world's major oil producers is surging.

Gold prices jump 2% as US dollar slips

Gold rose nearly 2.0 per cent overnight, bouncing off a three-week low touched in the previous session as the dollar fell sharply from recent highs, making the metal cheaper for holders of other currencies.

Industry welcomes strata reform

Property industry bodies have congratulated the McGowan government on passing the Strata Titles Amendment Bill 2018 through Parliament, which it says will bring a range of benefits for strata living arrangements through better regulation of strata managers and improved dispute resolution processes.

Roy Hill boosts Hancock profit

The production ramp-up at iron ore miner Roy Hill Holdings has helped the company lift annual profit by 69 per cent, in turn boosting the annual earnings of its major shareholder, Gina Rinehart’s Hancock Prospecting.

Miners and banks rally late to lift ASX

On the first day of November the Australian share market drew inspiration from the spring carnival - it jumped, fell behind but sensed the winning post and surged clear to close higher, lifted by banking and mining stocks.

Emerald to raise up to $30m

West Perth-based Emerald Resources has tapped investors for $27 million to fund exploration at the company’s Okvau gold project in Cambodia.

Ausdrill falls on contract news

Shares in Ausdrill have slumped nearly 10 per cent today, after the mining services company said it had not secured a contract extension in Ghana.

Georgiou turnover hits $574 million

Construction and engineering contractor Georgiou Group has lifted its annual profit and turnover and tipped a positive outlook, helped by recent contract wins at Perth Airport, in the Pilbara and on the east coast.