Latest Headlines

Atlas recommends $390m Rinehart takeover

Atlas Iron's board has backed a takeover bid by billionaire Gina Rinehart after rival bidder Mineral Resources pulled out of contention.

Australia shares soar on broad-based gains

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.

Morning Headlines

Tax cuts set to pass but it’s still war

$A continues slide against $US

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.

Wall Street on the up as media stocks gain

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 near 6-month low as $US steadies

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.

Banks take share market to 10-year high

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 hotel assets on the market

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.

Local tech firms raise $13m

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.

Pilbara leads spike in WA job vacancies

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.

Capricorn drops capital cost to $132m

Capricorn Metals has flagged a reduction in the capital cost of its planned Karlawinda gold project near Newman to $132 million following an optimisation study.

Gold miners post strong output forecasts

Gold producer Northern Star Resources has hit its gold production rate target for 2018, while Doray Minerals has announced an increased production guidance for the 2019 financial year.

Murphy to step down from Water Corp

Water Corporation chief executive Sue Murphy has announced she will stand down at the end of the year after a decade at the helm.

MinRes pulls out of Atlas takeover

Chris Ellison-led Mineral Resources has decided against making a counter offer to Gina Rinehart’s $390 million takeover bid for junior miner Atlas Iron.

Ex-Austal exec blocked from Civmec switch

A former Austal executive has been restrained from working for competitor Civmec on the $3.6 billion offshore patrol vessels program, after an interim injunction was handed down in the Supreme Court last week.

Sandover Pinder to connect with clients as Carabiner

After more than two decades as Sandover Pinder, the local architecture firm has changed its name to Carabiner – a rebrand its directors say better reflects the business as the link between clients’ needs and good design.

New solution for desalination

A team of Murdoch University scientists is seeking an industry partner to help advance its electricity-free desalination system and bring it to market.

Westpoint saga continues in courts

In the latest article in our 25-year anniversary series, we look at the 2006 collapse of Norm Carey’s Westpoint group and the continuing legal battles.

App/tech business of the week- Home for Now

Home for Now, which was developed by Anglicare WA and UWA's Coders for Causers, is a web app that provides live listings of available crisis and transitional accommodation on any given night.

Telstra axes 8,000 jobs, shares plummet

Telstra is axing 8,000 jobs over the next three years as it tries to save $1 billion while tackling the cost of investing in new technology and increased competition from its rivals.

Aust shares defy weak offshore leads

Australian shares have opened higher despite falls in commodity prices and weakness on overseas markets amid escalating trade tensions between China and the US.

Morning Headlines

Trade war escalates, wiping billions off Asian stocks

Power Ledger in Silicon Valley electric car deal

Perth-based blockchain business Power Ledger has signed a deal to work on an electric vehicle charging project in California’s Silicon Valley.

$A regains a bit against major currencies

The Australian dollar has retraced some of the ground it has lost against its major currency peers regaining almost a fifth of a cent against the US dollar.

Oil down on US-China dispute, OPEC outlook

Oil has fallen ahead of a possible increase in OPEC crude supply, and as an escalating trade dispute between the United States and China unleashed sharp selloffs in many global markets.

Gold down on stronger US dollar

Gold has fallen to a near six-month low and platinum has hit its lowest since February 2016 as a stronger greenback is overwhelmed by safe-haven buying, spurred by fears of a trade war between the world's two top economies.

Iron ore, trade row hits shares and $A

The Australian share market edged lower as the mining heavyweights were hit by falls in iron ore prices, while the Australian dollar hit a one-year low.

New operator for Perth tourism hub

Queensland-based The Tourism Group is set to become the new operator of the Western Australian Visitor Centre in the Perth CBD after winning a state government contract.

Carat, Initiative share $300m contract

Media buying agency Carat has retained its contract with the Western Australian government, sharing the roster with Initiative, which has also been contracted for non-campaign work.