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Our man in London’s Perth calling

John Atkins is back in town to help Anglicare WA usher in a new strategic plan. He joins outgoing chief executive Ian Carter to reflect on the history and future direction of the not-for-profit group.

Miners, energy stocks weigh on ASX at open

The energy and mining sectors are offsetting early gains for infotech and financial stocks, while a choppy overnight session on Wall Street has also kept the ASX subdued at the open.

Morning Headlines

Partial Landgate sale falters

$670m waste-to-energy project to proceed

Construction of Australia’s first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

Wall St falls as investors eye hawkish Fed

Wall Street's major indexes have edged lower in a choppy session after the US Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had cause a major sell-off the week before.

Crude oil slumps after large stock build

Oil prices have fallen with US futures settling below $US70 a barrel for the first time in a month, after US crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped.

Gold dips, dollar gains, after Fed minutes

Gold prices have edged lower as the US dollar strengthened after minutes from the Federal Reserve's September meeting cemented expectations for more interest rate hikes by the US central bank.

Banks drive Aust shares to four-month high

The Australian share market has closed more than one per cent higher for the first time in four months, buoyed by banking stocks after a surge on Wall Street overnight.

WA contractor to fight union legal action

A construction contracting company in Perth has vowed to fight legal action launched by the CFMEU over the alleged underpayment of a young worker on a temporary visa.

Govt backs Airbnb inquiry

The state government has backed an inquiry into short-stay accommodation providers, just days after the Australian Hotels Association called for a tightening of regulation of the sector.

Coal powers ahead amid political pressure

As the key commodity soars on healthy demand in Asia, big Australian companies may be rueing decisions to offload valuable coalmining assets in the face of intense opposition.

Alkane invests $3.7m in Calidus

Burswood-based Alkane Resources has invested $3.7 million in gold explorer Calidus Resources, with the proceeds to fund completion of a pre-feasiblity study at the Warrawoona project in the Pilbara.

Vector in $US35m debt funding

Vector Resources has secured a $US35 million ($50 million) debt facility with Dubai-based conglomerate Fast Telecom to fund the acquisition of a gold project in Africa.

Charter Hall buys Optima Centre in Osborne Park

Charter Hall has bought the Optima Centre office park in Osborne Park for $126.2 million and will hold the asset across two of its investment trusts.

Board moves: DTI, Pancontinental

Local tech company DTI Group has announced a host of board changes, while Pancontinental Oil & Gas chief executive is set to resign due to personal reasons.

WA battery storage trial launched

A new battery storage trial launched by utilities Synergy and Western Power in Mandurah will allow households to store residual energy from their solar panels and use it during peak periods.

Pacific trade deal backs in businesses: PM

Australia is set to officially join a massive trade deal hailed by Prime Minister Scott Morrison as a golden businesses opportunity.

Small fish expanding the gin pool

WA gin distillers Grumpy Fish and The West Winds Gin are taking small steps in a crowded market, using local flavours and sustainable techniques to attract lovers of the spirit.

Optus faces $10m fine over premium content

Optus could face a $10 million penalty after the consumer watchdog commenced court proceedings against the mobile firm for misleading customers over subscriptions to expensive and unwanted content.

Lendi signs on as Eagles sponsor

Sydney-based online mortgage broker Lendi has signed on as the West Coast Eagles’ new co-major sponsor for the next three years, replacing long-standing partner SGIO.

Asic bans Perth woman after jail sentence

The corporate watchdog has banned a Perth woman from providing financial services, months after she was jailed for six years for stealing more than $1 million from a local building company.

China demand lifts BHP iron ore output

BHP says its first-quarter iron ore production has risen eight per cent on strong Chinese demand for high-grade ore, while nickel output fell due to a fire at Nickel West's smelter in Kalgoorlie.

ASX mirrors Wall St surge to lift at open

The Australian share market has plugged into Wall Street's overnight surge to lift at the open, gaining nearly one per cent with help from banking, energy and healthcare stocks, however the resources sector has lost some of its lustre.

Morning Headlines

Telstra stung by investor revolt

Gold holds steady at July price peak

Gold has held steady at near two and a half month highs as dollar weakness offset improved risk appetite among investors, reflected in recovering global stock markets.

Oil prices edge up amid cautious trade

Oil prices have edged up in cautious trade as expectations of higher US shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.

Wall St jumps more than 2%

Stocks across the world have bounced back, supported by strong earnings results and expectations, while oil prices rose as evidence of higher US production was overshadowed by concerns about supply from Iran and Saudi Arabia.

ERA approves Pilbara power line

Alinta has received regulatory approval to build a transmission line linking the Roy Hill mine to Fortescue’s Cloudbreak and Christmas Creek mines, a move that would enable the iron ore miner to continue its shift away from diesel power.

Backing flows for innovation, jobs in the regions

Increased state and federal funding and support are helping new and existing businesses in country WA.

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