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Sprawl costs public transport

A national study by Infrastructure Australia has found that Perth residents are among those least likely to use public transport for their daily work commute, despite good accessibility in outer suburbs and subsidies covering about 70 per cent of the cost of a trip.

Forrest buys $15m FMG stake

Andrew Forrest has upped his stake in Fortescue Metals Group after buying $15 million worth of shares in the iron ore miner last week.

Mixed signals for Perth house prices

Two sets of data out today have sent mixed signals about the Perth property market, with Reiwa figures revealing a lift in house prices in October, while Corelogic says they fell for the month.

Align interests with outcomes

Opinion: Why not align private sector tax cuts to cost-effectively improving the performance of education and health?

NAB full-year profit drops to $5.7bn

NAB's full-year profit has dropped 14.2 per cent to $5.7 billion after the lender booked more than $1.1 billion in restructuring costs and customer remediation.

BHP outlines $US10bn shareholder windfall

BHP shares have jumped more than 4 per cent after the mining giant said it would return $US10.4 billion ($A14.7 billion) to shareholders in the form of an off-market buyback and special dividend.

BHP surge helps lift ASX in opening trade

Australian shares are ahead at the open following overnight gains on Wall Street and a five per cent surge in BHP after the mining giant announced it would return $14.7 billion to shareholders.

Morning Headlines

Offshore drilling ‘is a national priority’

Oil falls on signs of rising global supply

Oil prices have fallen and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong US demand for fuel.

Gold at a three-week low as dollar rises

Gold has fallen to a near three-week low as the US dollar scaled a 16-month peak and a stock market rebound stirred renewed appetite for riskier

Hancock Prospecting posts $1.37bn profit

The money-making power of Gina Rinehart’s mining business has been abundantly demonstrated in the group’s latest financial results, with her private company Hancock Prospecting lifting annual net profit 28 per cent to $1.37 billion.

Banks, miners lift choppy ASX

A late surge from heavyweight banking, mining and energy stocks has pulled the Australian share market higher on a choppy trading day.

Local opportunities in the final frontier

WA’s capabilities in sectors such as resources and energy are proving beneficial in space research.

Perth inflation rises to 1.2%

Perth’s annual inflation rate has hit its highest mark in nearly three years, driven by rising electricity prices in the September quarter, according to the latest data from the Australian Bureau of Statistics.

Govt to trial $60m wage subsidy

The federal government today launched a new wage subsidy trial targeting apprenticeships in rural and regional areas, which will invest $60 million across a range of trades

Osborn receives AICD excellence award

Two major organisations have recently honoured successful Western Australians, with the Australian Institute of Company Directors presenting exellence awards to Wayne Osborn and Erica Smyth, while Curtin University has recognised the achievements of two former 40under40 winners.

Telling tales at Linton & Kay

Perth artist Leon Pericles will tomorrow launch a major art exhibition of more than 400 works at Linton & Kay Galleries in West Perth, which will run until November 23.

Development-ready land released across WA

LandCorp and the Metropolitan Redevelopment Authority have combined to release more than 150 lots of commercial, residential and industrial land across Perth and regional Western Australia, which could generate up to $1.3 billion in development opportunities.

LandCorp calls for builder innovation

LandCorp has challenged local builders to develop solutions to difficult site conditions and to showcase high-tech, innovative medium-density construction capability through two separate expressions of interest campaigns.

Power Ledger wins world tech comp

Perth-based blockchain company Power Ledger has claimed top honours at an international technology competition run by English entrepreneur Richard Branson.

Rand calls for panel review

Orders from the Takeovers Panel forcing Rand Mining to sell its $60.1 million stake in closely linked gold miner Tribune Resources have been put on hold following a review application.

Malone to chair satellite company

iiNet founder and 40under40 winner Michael Malone has been appointed chair of ASX-listed satellite company Sky and Space Global (SAS).

ANZ FY cash profit slumps 5% to $6.5bn

ANZ has announced its full-year cash profit has dropped 5 per cent to $6.5 billion, as the bank simplifies operations and prepares for customer remediation in the wake of the royal commission.

CBA in $4.13bn Colonial First State sale

Commonwealth Bank will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny.

Banks up, miners down in choppy ASX open

Financial and energy stocks got a jump at the open, but miners and healthcare shares were holding the Australian market back during choppy early trade.

Morning Headlines

WA in $290m project pitch

LWP and PRM set to merge

Perth land developers LWP Property Group and PRM Property Group have announced a merger, with the combined group to have four equal shareholders.

Oil prices down on supply jump, trade war

Oil prices have dropped more than one per cent on signs of rising supply and concern that global economic growth and demand for fuel will fall victim to the US-China trade war.

Gold dips as trade jitters boost dollar

Gold prices have fallen as concerns about a further escalation of the US-China trade war boosted the US dollar, eroding bullion's appeal as it tested a key technical support.

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