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Builder fined $38k over death

The construction company overseeing the 2017 refurbishment of the GPO building in Forrest Place has been fined $38,000 after pleading guilty to charges over the death of a 17-year-old worker on the site.

Alkimos shopping centre sold for $34m

Trinity Village Shopping Centre in Alkimos has sold for $34 million, as interest continues to build in Western Australian neighbourhood retail assets.

ACCC outlines Qantas-Alliance concerns

Qantas has reaffirmed its desire to gain control of Alliance Aviation Services despite the competition watchdog today expressing concern about the two airlines coming together.

Botanix raises $40m

Botanix Pharmaceuticals is set to raise $40 million via a share placement, less than two months after it released studies suggesting its cannabis compound could be used as an antimicrobial to mitigate superbugs.

Perth’s house price slump continues

Perth’s house price woes have worsened further, after it recorded the sharpest decline in median price among Australian capital cities in June, according to the latest CoreLogic data.

Lithium boom running out of charge

A $1 billlion-plus lithium refinery planned for the Pilbara has been put on hold and a second refinery under construction in the South West has been reduced in size as local company Mineral Resources and its US partner restructure their joint venture after a sharp fall in lithium prices.

ANU taps Bishop for chancellor

Former foreign minister Julie Bishop will become the first female chancellor of the Australian National University.

Minderoo closer to Indiana choice

Andrew Forrest’s Minderoo Group has narrowed the choice for the preferred design to replace the Indiana Tea House on Cottesloe Beach, after two of the four designs received strong support from the public and the competition jury.

Northern Star, Saracen flag $126m for exploration

Northern Star Resources and Saracen Mineral Holdings have budgeted $76 million and $50 million towards exploration for this financial year, respectively, as the gold miners seek to continue to boost their record level of reserves.

Perth CBD office market leads nation for rental growth

Perth’s office market has emerged as the hottest leasing market in the country, with falling vacancies putting upwards pressure on rents in top-grade office stock.

Morning Headlines

Roe 8 to roll without toll: Libs The State’s shadow treasurer says a Liberal government could build the controversial Roe Highway extension without slapping a toll on trucks. The West

Oil rises as Fed cuts interest rates

Oil prices rose for a fifth day overnight following a larger-than-expected drop in US inventories and after the Federal Reserve cut US interest rates for the first time in more than a decade.

Gold falls as Fed rate outlook disappoints

Gold prices fell overnight after the US Federal Reserve cut interest rates for the first time since 2008, as markets priced in the move and a lack of dovish outlook failed to cheer investors.

Heavyweight sectors drag down ASX

The Australian share market has pulled back from its record highs despite gains for the energy sector.

Resolute launches $US274m takeover offer

Perth-based gold producer Resolute Mining is adding a fourth mine to its portfolio after striking an agreement to acquire privately owned Toro Gold, which owns the high-margin Mako mine in Senegal.

Costs at IGO’s Nova set to rise

Independence Group has exceeded production guidance at its Nova project, but costs at the operation were also higher than expected and are forecast to increase even further this financial year.

Treasury bosses extend reach into utilities

Deputy under-treasurer Michael Court has joined the board of Horizon Power, the latest in a string of moves to appoint government employees to directorships at energy utilities.

Fishing council taps Ogg as CEO

Alex Ogg has been appointed chief executive of the Western Australian Fishing Industry Council Inc, after serving in the role on an interim basis since May.

Variety, outcome equity key for foreign direct investment

A Committee for Perth report has confirmed the importance of foreign trade and investment in WA, but flagged concerns about wealth distribution.

Freight-on-rail plan easing port congestion

Transport and Planning Minister Rita Saffioti says congestion-busting initiatives are bearing fruit around the Port of Fremantle, with a 30 per cent increase of freight volumes on rail beginning to alleviate traffic build-ups along Leach Highway.

Sheffield cuts Thunderbird capex by $101m

Sheffield Resources has trimmed the capex of its Thunderbird mineral sands project by $101 million to $478 million, in order to significantly reduce its equity funding requirements.

Big lift in WA-Thai trade

Exports to Thailand from Western Australia have surged about 270 per cent from a low point just three years ago, as the South-East Asian country seeks to strengthen linkages with Australia and partners.

Inflation up, third RBA cut still likely

June quarter Inflation has narrowly beaten expectations with a rise to 0.6 per cent, which likely postpones a third consecutive rate cut next month but is not enough to ward off a further reduction by the end of the year.

Perth glazier fined $66k

A Perth window company and its director have been fined a total of $66,000 for not complying with a building commissioner’s order to fix incorrect glass installed at a Mandurah home.

Court upholds uranium mine approval

The Western Australia Court of Appeal has dismissed an application seeking to overturn the environmental approval granted in 2017 to Cameco Australia’s Yeelirrie uranium project.

Greenland raises $7m

Greenland Minerals has secured $7 million via a share placement, with the funds raised to advance the development of its Kvanefjeld rare earths project.

ASG wins $75m govt contract

ASG Group has beaten five other submissions to secure a five-year ICT contract with Main Roads Western Australia, in what is one of the largest ICT contracts awarded in WA so far this year.

Financial services sector looks overseas

Australia's battered and bruised financial services industry is gearing up for expansion into overseas markets.

ASX opens lower as utilities lead losses

The Australian share market has opened lower amid early losses in the heavyweight mining and financial sectors.

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