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CBA ‘had no ulterior motive for loan default’

Pilbara Ports moves on Lumsden Point facility

A long-mooted port development at Lumsden Point adjacent to existing operations at Port Hedland has taken a step forward with the Pilbara Ports Authority opening expressions of interest for potential investors in the project.

Aust shares flat as Telstra leads losses

The Australian share market has closed steady, with strong gains by the healthcare and utilities sectors countering yet another fall by Telstra and weakness among the banks and miners.

Paringa raises $30m

Shares in the Ian Middlemas-led Paringa Resources fell sharply today after the company completed a $30.2 million capital raising at a heavily discounted price of 22 cents per share, with the proceeds to fund construction of its Poplar Grove coal mine located in the US.

Giving with intent when done on Purposed

SPECIAL REPORT: The expectation that companies act in a more philanthropic manner has given rise to Purposed, a startup solution to simplify corporate and employee giving.

Events still deliver the goods

SPECIAL REPORT: A selection of charities show fundraising events still work for some, defying a general shift away from the strategy as it becomes more challenging.

Structure, strategy fuel funding

SPECIAL REPORT: Western Australia’s 10 largest philanthropic foundations distributed $65 million last year, but like many charities, some of these organisations are increasingly targeting individual supporters to offset rising fundraising costs.

Contractor and director fined $300k over injury

Esperance-based FGS Contracting and a company director have been fined more than $300,000 over the serious injuries sustained by one of the company's workers in 2016.

40under40 winner elected as Melbourne mayor

Former Business News 40under40 winner Sally Capp has been elected as Melbourne’s lord mayor, joining a growing list of past winners who have gone on to bigger things since claiming the award.

Harbour raises bid for Santos to $US10.9bn

US private equity firm Harbour Energy has raised its bid for Santos to about $US10.9 billion ($A14.5 billion) on condition the local energy firm increases its oil price hedging for the next two years.

Antipa in $7m raising

West Perth-based Antipa Minerals has announced a capital raising of $3.3 million, and is planning an entitlement offer for an additional $4.3 million, with the funds to be spent on exploration work at

Rose sales drive funds for Cystic Fibrosis

Cystic Fibrosis WA is calling on volunteers and businesses across the state to help the charity raise $75,000 this Friday as part of its annual ’65 Roses Day’.

AGL rejects Alinta's $250m Liddell bid

AGL has knocked back Alinta Energy's $250 million offer to buy Liddell Power Station and reaffirmed its decision to close the plant in 2022.

Former Optus boss to lead Vocus

Vocus Communications has appointed former Optus boss Kevin Russell as managing director and chief executive, three months after Geoff Horth quit the broadband provider in the wake of an earnings warning.

Hemsley heads AGWA Foundation

Property consultant Warwick Hemsley has replaced Adrian Fini as the Art Gallery of WA Foundation chair after four years at the helm.

Banks, US losses weigh on Aust shares

Australian shares have opened lower, dragged down by the banks and after all three major US stock indexes posted a weekly loss as the markets grappled with US-China trade talks.

Gold rebounds on Italian politics tensions

Gold prices rebounded on Friday, as the US dollar eased after Italian political tension sparked a sell-off in the country's bond markets and investors sought a safe haven in bullion.

$A falls after Wall Street's weak finish

The Australian dollar is flat after Wall Street stocks finished Friday's session flat or in negative territory.

Oil falls, but analysts expect a bounce

Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains, boosted by plummeting Venezuelan production, strong global demand and looming US sanctions on Iran.

Morning Headlines

Property cooling spreading

Construction tenders May 18 2018

TendererProjectCloseSubmissionsBroad Construction ServicesFremantle - civic building and libraryJun Construction ServicesLeighton Beach - Compass apartmentsJun

Aust market ends week on downbeat note

Australian shares have closed weaker as mining and banking stocks lost ground, despite the energy sector and vaccines giant CSL giving the local market a shot in the arm.

Tempo secures $6m CBH contract

Tempo Australia has been awarded a $6 million contract with CBH Group to upgrade its grain handling facilities across Western Australia.

BN30 hits all-time high

Business News’ index of 30 Western Australian stocks hit an all-time high this week, helped by solid gains by copper miner Sandfire Resources, oil and gas giant Woodside Petroleum and engineering and construction contractor Monadelphous Group.

Karratha up for rebrand

Advertising agency 303 MullenLowe has been appointed by the City of Karratha to develop a four-year branding campaign worth $1.9 million designed to attract new residents and tourists to the area.

Civmec profit up ahead of defence work

The Henderson contractor that outplayed local shipbuilder Austal for a share of work on the navy’s new offshore patrol vessels has doubled profit over the past nine months, but it remains unclear how much work it will gain from the $3.5 billion project.

Brownes moves to secure supply

Brownes Dairy is chasing extra supplies for its expanded cheese factory in the state’s South West and is believed to have approached the Lactanz cooperative and two farmers who were told last year their milk wasn’t needed.

Confidence in China relationship

Australian businesses can be confident that strong personal relationships with their partners in China can help overcome any short-term problems between the governments of the two countries, according to two local business executives with close ties to the Asian powerhouse.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss defence contracts, LNG developments, high density housing, master entrepreneurs, The West Australian, lithium and our special report on philanthropy.