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LKD’s $40m East Perth project under way

Boutique property player LKD Development Group has taken the next step in delivering its latest project, appointing Jaxon to commence construction of its nine-storey residential development on Tully Road in East Perth next month.

Morning Headlines

Joyce clings to power as Nats dissent grows

WTI rises on Cushing draw, Brent eases

US crude has risen to a near two-week high on signs of inventory declines at a key storage hub, while Brent eased under pressure from a stronger dollar.

$A falls below 79 US cents on $US strength

The Australian dollar is firmly back below 79 US cents.

Gold falls for third session

Gold prices have been pressured by a stronger US dollar and rising interest rates, dropping for a third session, but were underpinned by political worries and uncertainty about this week's huge US bond auctions.

Aust shares flat in no-surprises session

Australian shares have ended the day flat with a no-surprises line-up of company profit results failing to fire investor action in the absence of major overseas leads.

NRW strong earnings but no dividend

Mining contractor NRW Holdings has recorded strong growth in underlying earnings for the half year, but has decided against paying a dividend to ensure debt is fully serviced.

Langoulant review says former govt didn’t have a plan

A review of Barnett government programs and projects has identified a raft of shortcomings in governance, project management and financial management, and listed Royalties for Regions as the single biggest problem.

People Moves: McLean retires, Ardagh back

Master Builders Association WA executive director Michael Mclean has announced plans to retire at the end of this year while former Perth business director Suzanne Ardagh has been appointed to lead Lester Blades’ board advisory service.

BHP hikes South Flank cost

BHP Billiton has increased the expected cost of its South Flank iron ore project to $US3.6 billion ($A4.6 billion), substantially above the estimated range it provided in June 2017 when initial funding was approved.

No Joyce for WA Nationals in federal scandal

Deputy Prime Minister and National Party leader Barnaby Joyce’s position has been further weakened today after the Western Australian branch of his party called for his resignation.

Kin flags board restructure

Aspiring gold miner KIN Mining is still on the hunt for a new managing director after the resignation of Don Harper last week, with the company announcing a board restructure that will include an independent chairperson.

Earnings downgrade hits Vocus shares

Shares in Vocus Group have hit a four-month low after the telco held off paying its half-year dividend and downgraded its annual earnings guidance.

Resources spending boosts Monadelphous H1

Engineering services firm Monadelphous Group has lifted half-year profit by nearly a third as it rides the rebound in resources sector activity.

Saracen, Northern Star half-year results

Local gold producer Saracen Mineral Holdings has announced an impressive rise in net profit for the half-year, while Northern Star Resources has recorded a slight dip in earnings in its results.

WA boss sold assets to pay staff

The director of a Perth security company has been acknowledged for selling personal assets to provide back pay for staff who were underpaid more than $200,000.

Seven West profit up, but dividend on hold

Seven West Media's first-half profit has risen to $100.7 million but the broadcaster has temporarily suspended its dividend to focus on managing expenses.

Europe, UK negativity flows to Aust shares

The Australian share market has opened lower in the absence of a lead from US markets, which were shut for a public holiday, leaving local investors with only a negative lead from Europe and Britain.

Morning Headlines

Union readies for new tug of war with BHP

Fiona Drummond to lead EY

EY has named Fiona Drummond as its next managing partner in Western Australia, making it the second of the big four accounting firms to have a female heading its Perth office, and only the sixth out of 86 accounting firms listed on the BNiQ Search Engine.

Gold steady as $US regains some losses

Gold prices are down slightly as the US dollar claws back some recent losses and stocks rose, but worries about US inflation keep buyers in the metal.

$A tad lower against rebounding $US

The Australian dollar is slightly lower against its US counterpart which has rebounded off three-year lows.

Oil hits 2wk high on equities recovery

Oil prices have hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising US production tempered gains.

Positive results power shares higher

The Australian share market has closed higher with most sectors posting gains, led by healthcare companies, big banks and industrial stocks.

Big savings in mutual merger

Almost $100 million could be saved through a merger of health insurance mutuals HBF and HCF, while Western Australian customers would benefit from better services in dental and optometry, according to HBF managing director John van der Wielen.

Bass back with Eagle raising

SPECIAL REPORT: Four years after exiting the iron ore sector near the top of the boom, Charlie Bass has teamed up with a pair of experienced company directors for a new mining float.

Buzz builds over battery metals

SPECIAL REPORT: The strength of the battery metals industry is helping drive the state’s junior resources sector.

Imdex posts strong half-year results

Shares in mining equipment supplier Imdex have jumped 8.3 per cent today after the company announced a half-year profit of $10.6 million, with revenue up 28 per cent on the corresponding period last year.

Cashies delivers on profit expectation

Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.

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