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Bio Organics founder seeks council seat

Benjamin Avila hopes that winning a seat on the Shire of Serpentine Jarrahdale council will enable him to assist businesses avoid the fate that befell his.

CBA sells life insurance business for $A3.8bn

Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses, CommInsure Life and Sovereign Assurance, for $A3.8 billion ($4.15 billion) to global insurer AIA Group.

Seven completes $375m raising

Seven Group Holdings has raised $375 million to help it buy the remainder of equipment hire company Coates Hire, and plans to tap investors for a further $25 million.

Shares open 5pts lower

The Australian market has opened slightly lower, ignoring a positive lead from Wall Street overnight as markets reacted to the prospect of a US rate hike later this year.

Morning Headlines

Seven Group to raise $400m

$A slips, but still above 80 US cents

The Australian dollar is still above 80 US cents despite slipping a little against greenback after the US central bank released its statement following its two-day policy meeting.

Oil up 2% despite US crude build

Oil prices have lifted two per cent despite a rise in US crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.

Gold falls 1%, hits 3-wk low after FOMC

Gold prices have fallen one per cent after the US Federal Reserve left interest rates unchanged but signalled it still expected to raise interest rates by year-end.

Rose wins scholarship to US

BHP Billiton manager Kirsten Rose is heading to one of the world’s top universities this month for a leadership course after being selected for a Chief Executive Women scholarship.

Perth Stadium on track for goals

Perth Stadium chief executive Mike McKenna expects to attract a crowd of 50,000 for its first football game, featuring the AFLW Fremantle Dockers, he told a Business News Success & Leadership breakfast this morning.

Shares close 4pts lower

The share market recovered most of the ground lost in a poor start to the day but has still closed marginally lower, as weaker iron ore prices weighed on the mining sector.

State aims for 50% women on boards

The state government has set itself the target of increasing the number of women appointed to its boards, committees and advisory bodies to 50 per cent by 2019, though it has a long way to go before hitting gender equality at its major trading enterprises.

WA considers minimum price on alcohol

The state government is considering enforcing a floor price on takeaway booze to stop people getting drunk on cheap alcohol, but the opposition says it is a cost impost on households and red tape burden on businesses.

Transport noise policy revamp

Striking a balance between transport corridors and urban development is the main objective of a revised planning policy that aims to mitigate road and rail noise for new residential projects.

Liar loans symptomatic of poor home loan practices

ANALYSIS: If a full-blown mortgage crisis were to hit Australia, it will have been brought about by mismanagement at all stages of the home-loan process.

ACCC concerned regulations boost big banks

The competition watchdog has expressed concern that big four bank profits are being boosted by regulation rather than the lenders' own performance.

WA venues win national awards

Four Perth hotels and hospitality businesses, including Fraser Suites and the State Buildings, have been named best in their field at the annual Australian Hotels Association National Awards for Excellence.

Seven Group buys out Coates Hire

Kerry Stokes' Seven Group Holdings has announced it will buy the remaining half of its stake in equipment hire company, Coates Hire, for $517 million.

Remuneration boost for Goyder, Mackenzie

Wesfarmers managing director Richard Goyder landed a $12.1 million pay packet in his final full year in charge of the Coles and Bunnings operator, while BHP Billiton chief executive Andrew Mackenzie also lifted his total income, but he remained a long way short of the Perth businessman.

Aust shares open lower

The Australian market has opened weaker with falls across most sectors as investors wait for the outcome of the two-day US Federal Reserve policy meeting.

Morning Headlines

Iron ore has peaked and so has China production, says RBA

$A follows US stocks higher

The Australian dollar has followed US stocks higher as as investors stayed away from making major bets ahead of the Federal Reserve's policy meeting.

Oil prices back away from recent highs

Oil prices ended lower on Tuesday, retreating from near five-month highs ahead of a meeting between key oil producers on the outlook for further supply cuts.

Gold prices rise as greenback retreats

Gold rose from the previous day's two-week low as the US dollar slipped ahead of a Federal Reserve meeting that is expected to provide more clues on the pace of US monetary tightening.

Cheeky Monkey on board Singapore Airlines flights

Margaret River's Cheeky Monkey Brewery Co is celebrating today with news Singapore Airlines will offer its locally brewed craft beer on business class flights between Perth and Singapore.

Karratha opposes new Fifo camp

The City of Karratha has strongly opposed Woodside Petroleum’s plans for a 700-bed fly-in, fly-out camp, but the final decision rests with Planning and Lands Minister Rita Saffioti, who is playing her cards close to her chest.

Perth property down 8.8% in three years

Perth residential property prices fell 0.8 per cent in the June quarter, to be down 3.1 per cent across the financial year, according to data released by the Australian Bureau of Statistics today.

Freo AFLW team scores Perth Stadium spot

The Fremantle Dockers women’s team will play the first football game of any code at Perth Stadium next year in what is tipped to be the biggest standalone women’s sport event held in Australia.

City retail strip to become student accommodation

The new owner of 335 Wellington Street, home to the Wellington Surplus Stores for 75 years, has lodged an application with the City of Perth to build a $70 million student accommodation building.

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