The Reserve Bank of Australia may cut interest rates again by Christmas, after deciding to lower the cash rate by a surprising 100 basis points for the first time in 16 years, economists said.
The Reserve Bank of Australia has responded to the global financial crisis by cutting official interest rates by 1 percentage point to 6 per cent, larger than the widely expected half a percentage point cut.
The former Western Australian government's $37 million investment into streamlining the state's resource approval process has largely failed, according to a report by the Auditor General.
Engineering company Neptune Marine Services Ltd has finalised a $35 million acquisition of its second offshore construction vessel, with $7 million worth of contracts already locked in.
A joint venture including Macquarie Bank Ltd have purchased 7500 square metres of office space and retail arcade on Hay Street known as 160 Central for some $40 million.
ABM Resources NL plans to raise an extra $3.2 million dollars through a share purchase plan, after successfully raising $1 million through a placement to clients of Blackwood Capital Ltd.
A possible deal for the acquisition of BankWest by the Commonwealth Bank of Australia is likely to be reached tomorrow, as the major bank confirmed it was in exclusive talks with HBOS Plc to buy the Australian retail banking arm.
Backflip on Varanus may see state government gag report findings; Crisis sparks bank shake-up; Pilbara workers to strike; Investors hammer oil giants on global worries; Banks turn to fund for cheap cash
The market capitalisation of Western Australian listed companies have crashed to a 20-month low over September, falling 21 per cent to $127 billion, according to the Deloitte WA Index.
Toronto-listed Waratah Coal Ltd has urged its shareholders to take no action against a hostile bid by acquisitive billionaire Clive Palmer, who recently launched a takeover for a Western Australian iron ore play.
Engineering firm Clough Ltd has secured a further $20 million in work for its vessel, Normand Clipper in the Gulf of Mexico for Apache Corporation and Oceaneering International.
The former chairman of the state's Environmental Protection Authority has failed to quash a corruption report linking him to disgraced former premier and lobbyist Brian Burke.
O'Connor-based BrainyToys Ltd is looking to raise additional funds after reporting a net loss of $4 million for fiscal 2008 and a working capital deficiency of $1.1 million.
The state environment watchdog has recommended a proposal by the Water Corporation for the development of a desalination plant at Binningup, with the final nod of approval now needed from new Environment Minister Donna Faragher.
The potential merger between CBH Resources Ltd and Perilya Ltd will have to go ahead without the Mount Oxide copper project, after formal agreements were executed for the $20 million scrip sale.
Varanus gas blast a $2b blow to WA; Recession fears increase; Shareholders target boards in executive pay revolt; ANZ readies axe over troubled lending arm; Top China official in warning on BHP-Rio tie
The credit crunch sweeping global markets is buffeting the property sector in Western Australia, with major developer Brookfield Multiplex denying rumours that the $1 billion office tower City Square was in jeopardy.
Subiaco-based explorer Vital Metals Ltd said it will reduce the pace of work on the feasibility study on its Watershed project in an effort to conserve cash in the current financial climate.
Housing and Works Minister Troy Buswell has ordered a review of public housing stock in high-end suburbs of Perth with a view to eventually reinvest the value of some properties to greater effect elsewhere.
Energy retailer Synergy has rejected claims by the Food Industry Association that it engaged in price gouging following the gas explosion at Varanus Island in June.
Emerging producer Atlas Iron Ltd expects to disclose its off-take arrangements shortly as it today received the final environmental approval for its Pardoo iron ore project in the Pilbara.
South-Perth based Cooper Energy Ltd today said its hostile takeover bid for Incremental Petroleum Ltd could become ugly if Incremental's board acts against its shareholders' wishes and refuses the unsolicited takeover offer.
The state corruption watchdog has recommended that former deputy of the resources department, Gary Stokes, be prosecuted after finding he engaged in serious misconduct for supplying information to disgraced former premier Brian Burke.
CityView Corporation Ltd has put its Angolan oil project on hold as global financial turmoil forces its joint venture partner to pull away from financing its part of the operation.
Australian stocks were lower at noon, as nervous local investors await the outcome of tonight's US House of Representatives vote on a new version of the $US700 billion ($A888 billion) bailout of the financial markets.
Apex Minerals NL said it is "judicious" to implement a hedging project to protect its exposure to the Australian dollar gold price over the next three years.
