Perth investor Andrew Hopkins' planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.
PODCAST: Mark Pownall and Mark Beyer discuss Perth house price outlook, Atlas Iron takeover, BGC asset sale starts, WA job vacancies, population growth and an interview with the CEO of HBF.
CIMIC Group has secured a $225 million mining services contract at BHP Billiton's Rocky's Reward nickel project, located 400 kilometres north of Kalgoorlie.
Perth companies MACA and gold producer Beadell Resources have agreed to terminate a mining services contract at Beadell's Tucano project in Brazil, leaving the miner to repay a $61 million loan.
The Australian dollar has gained some ground against its US counterpart which sharply reversed lower overnight following jumps in the sterling and the euro and following the release of weaker than expected business growth figures.
Global benchmark Brent crude has fallen more than two per cent ahead of a meeting of the Organisation of the Petroleum Exporting Countries, where producers were expected to boost output to stabilise prices.
US stocks have fallen at the open, weighed down by declines in Amazon after the US Supreme Court let states force online retailers to collect sales tax.
Nearly three in four taxpayers will pay a marginal tax rate of 32.5 per cent from 2025, with the government's plan to flatten the income tax system approved by the Senate today, despite moves to lower company tax still stalled.
The Australian share market is at its highest level in more than 10 years, with significant gains across most sectors as investors looked past fears of a looming trade war between the US and China.
Western Australia's population growth remains subdued, with the state recording a 0.8 per cent increase for the 12 months to December, according to the latest data from the Australian Bureau of Statistics.
WorleyParsons has been awarded a contract extension for engineering services at Chevron's Gorgon and Wheatsone LNG projects, while NRW Holdings has received a $93 million extension to its Stanmore Coal contract.
Perth's house values will decline for another year but are tipped to recover in 2019, a report released today has found, conflicting with an ANZ analysis from earlier this week that predicted further house price falls for the state in the next two years.
Marindi Metals has agreed to sell its Bellary Dome conglomerate gold project in the Pilbara to Canada-listed Pacton Gold in a cash-and-scrip deal worth up to $11 million.
Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.
Australian shares are notably higher in early trade, buoyed by broad-based gains after virtually all major global bourses closed with good gains in the offshore session.
The Australian dollar has continued its slide against a steady US dollar that is hovering near an 11-month peak against a basket of major currencies as China's signal of tolerance of a stronger yuan offset anxiety about the global trade conflict.
Technology and media stocks pushed Wall Street higher on Wednesday and helped the Nasdaq hit a record high, as markets eyed a recovery after being battered by a rapidly escalating China-US trade tensions.
Gold prices have dropped, remaining near a six-month low, as the US dollar has hovered around 11 month peaks but was offset by festering global trade tensions, while platinum hit a 2-1/2-year trough.
The Australian share market is at its highest level in more than 10 years as the major banks soared, while Telstra plunged after announcing major job cuts and asset sales.
BGC Australia has kicked off its asset sale program with the listing of the recently completed Westin Perth and Aloft Perth hotels, along with an adjoining commercial office building in Rivervale, a CBD development site and a neighbouring food and beverage precinct.
Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.
Job vacancies in the Pilbara and Kimberley regions hit their highest level in four years in May, as demand for engineers, IT professionals and automotive trade workers in Western Australia takes off.
