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Fortescue shipments fall 8.6%

Andrew Forrest-led Fortescue Metals Group has reported an 8.6 per cent fall in first-quarter iron ore shipments as pollution curbs in China reduced demand for its lower-grade ore.

Bloodbath on the ASX as market plunges

It was a bloodbath for Australian shares at the open as the market plummeted to a new 12-month low, following a dive on Wall Street overnight amid a cocktail of disappointing economic and trade news.

Morning Headlines

Future Fund selling $850m in assets

Suzuki drives Cisco from the bottom up

Global technology company Cisco is changing the way it operates in Asia and is positive about opportunities in Australia, its regional president told a Business News breakfast today.

Energy and resources shares drag on ASX

The Australian share market's weak October trend has continued with lower commodity prices weighing on the indices.

Three hurt in WA island jetty collapse

Two women and an 11-year-old boy have been injured as a jetty collapsed while they were fishing on Rottnest Island, with the state government set to launch an investigation into the incident.

Black Rock posts graphite DFS

Black Rock Mining has detailed a capital expenditure of $US115 million ($162 million) for the first phase of its Mahenge graphite project in Tanzania, with plans to begin construction next year.

Carnegie cuts new Tag deal

Carnegie Clean Energy will take a reduced stake in ASX-listed Tag Pacific in exchange for the Perth company’s battery storage and microgrid business, after the parties agreed to remove a $2.2 million cash component from their original deal.

Telstra launches Perth 5G network

Telstra launched its 5G mobile network in Perth today, while also confirming multinational telco Ericsson as its partner in a national rollout of the technology.

Property deals wrap

In the latest property deals wrap, Woolworths makes a $27 million sale, while Sirona Capital spin-off Harvis Corp and US private equity firm Black Mountain Metals have leased office space in the Perth CBD.

Buyers track value in Perth office market

The Perth office market offers good value to buyers looking to hold for the longer term, according to research from CBRE.

Kidogo creates art buyers through experience

Kidogo Arthouse has held prime position on Fremantle’s Bathers Beach for the past 20 years, and is serving as a base for artists and businesses to collaborate in the port city.

Labor property tax policies to damage WA housing: MBA

Federal Labor’s proposed changes to negative gearing and capital gains tax would hit Western Australia’s residential building sector at a time it is already reeling, according to economic modelling commissioned by Master Builders Association.

Tech Scene – AtlasTrend

AtlasTrend is a fintech investing platform, which opens up access to active managed investing. Users can invest online in one or more managed funds made up of a portfolio of international shares.

Energy and resources shares keep ASX flat

If it relies on something coming out of the ground, it's likely to be weighing on the Australian share market, with local gold miners one of the few commodity-based positives for a flat ASX at noon.

Morning Headlines

PEXA sale windfall for WA

Wall St extends falls on earnings concerns

US stocks have fallen with worries about the earnings outlook adding to recent selling pressure, though major indexes ended well off the day's lows as investors snapped up beaten-down shares late in t

Oil slumps 5% as global equities tumble

Oil prices plunged about five per cent overnight to two-month lows as a sell-off in global equity markets raised worries about demand growth and after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of US sanctions on Iran.

Gold hits three-month high as stocks dip

Gold rose by a percentage point overnight to its highest level in over three months as the dollar weakened and global stock markets tumbled, with rising political and economic uncertainties adding to bullion's appeal.

Pathway to prosperity requires focus on strengths

Perth does not need to over emphasise economic diversification to revitalise the local economy, but rather embrace its competitive advantages, according to a report released by the Committee for Perth today.

Energy leads widespread declines on ASX

The Australian share market has closed lower again, with energy and materials stocks dragging the ASX back toward last week's six-month low.

Healthscope again targeted with $4.1bn bid

Private equity firm BGH Capital and AustralianSuper have returned with another $4.11 billion bid for Healthscope, five months after the private hospitals operator rejected their takeover attempt.

Uni VCs skip education strategy launch

Premier Mark McGowan and StudyPerth chair Rod Jones this morning launched a new strategy to attract international students to Western Australia, with Mr Jones throwing out a challenge to the sector to turn the strategy into action.

GR to complete engineering study

Cassini Resources and OZ Minerals have appointed GR Engineering Services to complete an engineering study for their joint venture West Musgrave copper-nickel project in Western Australia.

Marketforce launches new services

Advertising agency Marketforce has recruited Jon Amery and Dixie Marshall and partnered with Debra Neve to support the launch of new services.

Inpex hails first LNG cargo from Ichthys

Tokyo-based Inpex has achieved a significant milestone, with the first shipment of LNG departing the company’s $46 billion Ichthys project at its onshore plant in Darwin.

IMF plans $85m raising

Litigation funder IMF Bentham has announced plans to raise up to $84.5 million to establish two new funds and pursue growth opportunities in Europe and Asia.

Zenith to add solar to Nova power station

Zenith Energy will incorporate a solar facility in its existing diesel power station at Independence Group’s Nova operation in the Fraser Range, taking capacity to 26 megawatts.

Talison nears deal on legal dispute

Talison Lithium and Global Advanced Metals have reached an in-principle settlement deal in their legal dispute over expansion plans for the Greenbushes mine.

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