Business News for Western Australia. Tuesday July 30. Jessica Taylor reports. City councils to merge. Pan Asian snares WD Moore & Co. Keith Gordon resigns from Emeco Holdings and more.
The Australian share market has closed flat after light and lacklustre trading as hints of a cash rate cut next week by the Reserve Bank failed to spark major moves.
Resolute Mining has frozen the pay of its senior management and taken a $70 million hit as weakness in international gold markets continues to hurt miners of the precious metal.
Financial commitment from Asian investors has prompted an east coast-based technology company to reveal plans for a subsea telecommunications cable link from Perth to Singapore.
Perth-based education services provider Navitas has recorded a modest rise in net profit for the financial year, amid signs the international student market is returning to positive territory.
The property industry has welcomed the state government's plan to halve the number of metropolitan local government areas, saying larger councils would result in a more robust planning and approval
The Australian share market is slightly lower in early trading as investors await a key economic meeting and the release of data in the United States later this week.
Australia may be heading towards softer economic growth with interest rates falling to record lows and resources construction activity expected to peak soon.
Gold producer Ramelius Resources has flagged it is likely to record a before-tax loss of approximately $70 million for the financial year, mainly as a result of big write-downs.
The rating of Australian banks by their business customers has declined sharply over the past five years, with one of the few exceptions being Bank of Queensland.
Equipment hire contractor Viento Group has secured a $7 million contract with Rio Tinto for repair works to the Dampier Salt facility at Port Hedland which was damaged over cyclone season.
Health insurer HBF has completed a deal, foreshadowed earlier this year, to purchase and move into one of the new Kings Square office towers, relocating its 600-strong staff from its existing offic
Galaxy Resources says it has reached the minimum subscription caveat of its $47 million million capital raising, which was first launched in May and since extended twice, two days ahead of the offe
Australia's natural gas industry says it can keep the cash flowing once the mining boom is over, but its vast potential is under threat from excess green tape and a lukewarm political reception.
Western Australian gold producer Northern Star Resources has shrugged off a falling gold price to report record production and predicted a record profit this financial year.
Gold explorer Gryphon Minerals has slashed costs and retrenched most of its employees, as it seeks to preserve cash ahead of the development of its West Africa gold project.
