Developer and funds manager OpenCorp has predicted Perth's residential property market to turn around in the next 12 to 24 months, with the Melbourne-based company aiming to increase its portfolio in Western Australia after the recent launch of two projects.
This week, Reiwa members reported an increase in weekly sales to 680. The rise in overall sales by 37 per cent over the week is attributed to a 34 per cent increase in sales for houses, 56 per cent for units and 37 per cent for land.
The estate of the late mining billionaire Michael Wright has been ordered to slash its submission appealing the $25 million awarded to his youngest daughter, with a judge saying it needs some serious editing.
Shipbuilder Austal has signed a $305 million contract to build and maintain Pacific Patrol Boats for the Australian government, however the contract's price tag was smaller than what the Commonwealth had flagged.
Global equity markets have fallen for a second straight day on mostly weak economic data while metals prices slipped on renewed concerns of a downturn in global growth.
Gold has dropped one per cent, falling further from a 15-month high on pressure from the strong US dollar, which retreated from recent lows against the yen and euro as US trade and factory order data eased some worries.
Mine camp operators Compass Group and Sodexo, and an Adelaide-based print business that supplies Fortescue Metals Group were among the winners in the 2016 Supply Nation supplier diversity awards.
Small companies hoping to list on the stock market are facing tougher conditions, with more than a dozen announced deals in Western Australia hitting problems this year and the ASX foreshadowing tighter regulation of new deals.
West Perth-based developer Cedar Woods Properties has maintained its profit guidance for the current financial year, with strong performances on the east coast continuing to offset soft conditions in Western Australia.
Queensland MP Clive Palmer has announced that he won't recontest his lower house seat of Fairfax at the looming federal election, while Dio Wang has been confirmed to again hold the number one spot on Palmer United Party's Western Australian Senate ticket.
Fortescue Metals Group has taken its latest round of debt repayments to more than $US1.2 billion, with a $US650 million buy of its 2019 senior secured term loans.
Vehicle sales in Western Australia appear to be reaching the end of a long tumble, with April sales this year down just 0.1 per cent on the same month in 2015.
Energy giant Santos will hand at least 40 per cent of its underlying net profit back to shareholders as dividends despite a tough year due to falling oil prices.
US stocks have fallen after weak economic data in China and Europe reignited worries about global growth, while oil prices dropped for a second day, dragging down energy shares.
Tax reductions earned plaudits from the business community, with the budget's cuts in both tax company and income tax burdens likely to inspire confidence, particularly in Western Australia.
Despite the tax cuts in last night's budget, the federal government is still relying on increasing revenue in the five years ahead to return to balance, which is still anticipated for 2020-21.
The federal budget has vastly boosted the government's firepower against multinational tax avoidance as it looks to ramp up revenues to fund tax cut promises.
The federal government has moved to end 'gaming' of wine industry assistance with cuts to rebates and tightening of eligibility for the Wine Equalisation Tax (WET) rebate.
