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Morning Headlines

BHP roars back with big profit

$A creeps higher against $US

The Australian dollar is up against its US counterpart despite the greenback moving broadly higher following hawkish comments from Federal Reserve officials, and finding support amid European political uncertainty.

Oil up 1% amid higher compliance with cuts

Oil prices are up one per cent after touching three-week highs on OPEC's optimism for greater compliance with its deal with other producers, including Russia, to curb output in an effort to clear a glut that has weighed on the market.

Gold pares losses on weak US data

Gold prices have pared losses on weaker-than-expected US economic data, after falling 1 per cent on renewed expectations of an increase in US interest rates next month that pushed the dollar higher.

WA Labor promises $1.1bn medical research fund

WA Labor has proposed a repurposing of the existing WA Future Fund into a new $1.1 billion Future Health Research and Innovation Fund that will collect annual interest, if elected next month.

Accelerator expectations need to be slowed

OPINION: Startup accelerators hope to beat the odds on the pathway to success, but the numbers suggest that even the 'experts' can't pick winners.

Shares close 4pts lower

The share market has edged lower as a flurry of earnings reports resulted in a mixed performance from many sectors.

BHP bounces back to half-year profit

BHP Billiton has posted a first-half profit of $US3.2 billion ($A4.2 billion) as a rebound in prices for iron ore and petroleum helped the resources giant swing back to profitability.

Brewer joins new incubator

Local entrepreneur Tim Brewer has joined a cohort of mentors and advisers for a new Perth-based startup accelerator program, Plus Eight, which will begin in March, around the same time Commonwealth Bank of Australia will bring its Pop Up Innovation Lab to town.

Aust Mines to raise $6m for project work

Perth-based explorer Australian Mines has announced plans to raise up to $6.3 million from investors to fund ongoing work at its Sconi and Flemington scandium-cobalt projects.

Barnett says he would accept 70c GST floor

Premier Colin Barnett has called on the federal government to pick a figure for the proposed GST floor, saying he would agree to 70 cents in the dollar as the prime minister has indicated.

Xenophon would fix GST dilemma

ANALYSIS: Malcolm Turnbull was simply bowing to political reality when fending off questions about Western Australia's miserable share of GST revenue during his whirlwind visit to Perth on Monday.

Beadell raises $51m for plant upgrades

Gold miner Beadell Resources has rattled the tin for $51 million to pay for plant upgrades and further exploration work at its Tucano mine in Brazil.

SGH writes down Seven West stake by $140m

Kerry Stokes' Seven Group Holdings has slipped to a half-year loss of $41.8 million due to $145 million of write-downs almost entirely related to the value of its stake in Seven West Media.

Goyder to chair Woodside

Outgoing Wesfarmers boss Richard Goyder has been revealed as successor to Michael Chaney as chairman of energy giant Woodside Petroleum, a week after we was named the next chairman of the AFL.

Monadelphous profit slips 24%

Engineering firm Monadelphous Group is looking to diversify into new markets such as infrastructure and renewables as revenue from mining and energy customers continues to decline.

Shares open 7pts lower

The Australian share market has drifted lower in early trade as investors wait on the release of the Reserve Bank's February board meeting minutes.

Morning Headlines

'Energy catastrophe' looms

BHP renews indigenous partnership with $14m pledge

BHP Billiton has extended its partnership with indigenous organisation Kanyirninpa Jukurrpa, following the announcement of a $14.7 million contribution to the Martu Ranger program over the next five years.

Ship launches LNG as a Pilbara logistics option

Woodside Petroleum has officially launched its latest marine craft, taking the opportunity to showcase the newly built platform supply vessel Siem Thiima in Fremantle due to its capacity to use LNG as a fuel.

$A creeps up slightly against $U

The Australian dollar is up slightly against its US counterpart which has followed bond yields lower amid continued political uncertainty.

Oil up, but swelling US output caps rally

Oil prices has inched higher, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained rally, although growing US output and stubbornly high stockpiles kept price gains in check.

Gold firms in thin trade

Gold has firmed as the US dollar has softened, although trading was thin due to the US holiday and as markets awaited details on President Donald Trump's tax policy.

Pollies cool on arts commitment

The local arts sector has struggled to capture attention for a move it thinks is key to the sustainability and future development of the industry, with no political parties committing to the Chamber of Arts and Culture's proposed pledge of $100 million of increased funding over the next four years.  

Property industry says Labor's tax will hurt WA

Property industry lobby groups say WA Labor's plan to introduce a 4 per cent tax on foreign buyers of residential property if it wins the March 11 state election is a retrograde step for the state'

Rinehart business to become state’s largest

Hancock Prospecting is poised to become Western Australia's biggest private company after a investment and acquisition spree in iron ore and agribusiness which is expected some time this year to push its revenue past that of the incumbent number one for the past 12 years, home builder BGC. A 2018 reranking appears certain following research for the Business News Private Companies list published today in a special report.

Shares close 10pts lower

Australian shares finished lower on Monday, hurt by disappointing earnings results from logistics giant Brambles and engineering group Worley Parsons.

Foreign players cement their footprint

OPINION: Everyone exposed to the Australian retail industry knows how tough conditions are, but what they might not fully understand is the extent to which a once-local industry is being blasted out of business by international competition.

Arafura taps investors for $5m

Rare earths explorer Arafura Resources has announced a $5.1 million capital raising to fund ongoing work at its Nolans project in the Northern Territory.