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Morning Headlines

Nation losing innovation race

Oil slips, but is still near recent highs

Global crude oil prices have slipped slightly but have stayed close to multi-month highs as traders brace for a potential stockpile build, expected later this week.

Gold slides 1% as $US gains

Gold has fallen one per cent, touching a two-and-a-half-week low, as the US dollar strengthened and US Treasury yields rose ahead of a two-day Federal Reserve meeting, while a world stock market index surged to a record and Wall Street also hit new highs.

MinRes, Galaxy trade blows over director

Perth companies Mineral Resources and Galaxy Resources have waded into an extraordinary dispute over their respective corporate governance standards, triggered by the role played by Chinese businesswoman Xi Xi.

Shares close 25pts higher

The Australian share market has closed higher as investors rotate from the mining sector into the big banks as expectations of interest rate hikes strengthen.

Visa changes move goals for business

SPECIAL REPORT: Stricter visa rules are making it harder for businesses in WA to explore overseas options to meet their skilled labour needs

Recruiters adapt to a changing marketplace

SPECIAL REPORT: A possible skills shortage is among the challenges facing WA recruiters, amid an uptick in mining and hiring across the board.

Servtech to build new Reiwa app

Recently listed tech company Servtech Global Holdings has won a contract to develop a new app for the Real Estate Institute of Western Australia.

WA gold industry holds anti-tax rally

A thousand gold industry members gathered at a rally in Kalgoorlie today to protest the McGowan government’s proposed gold royalty increase.

Gascoyne in $60m facility for gold project

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Shares jump on Xanadu result

Shares in three local energy companies have surged today after hitting hydrocarbons while drilling the Xanadu-1 offshore prospect in the Perth Basin, with Triangle Energy leading the charge, up nearly 60 per cent.

MZI to upgrade Keysbrook

Mineral sands miner MZI Resources will spend $5 million to significantly upgrade the output capacity of its Keysbrook operation near Serpentine, which has been underperforming since it came online in 2015.

Ramelius buys Evolution's Edna May for $90m

Ramelius Resources is set to become a 200,000 ounces per annum gold producer after acquiring Evolution Mining’s Edna May operation near Merredin for up to $90 million in cash and shares.

Gordon loses Ten case

Bruce Gordon has failed in his attempt to derail CBS's takeover of Ten Network after the NSW Supreme Court ruled the embattled broadcaster's administrator gave creditors sufficient information about his rival bid.

Rio Tinto CFO to retire

Rio Tinto chief financial officer Chris Lynch will retire next year after more than four years in the role.

Shares open 24pts higher

The Australian market has opened higher after key US markets hit fresh record highs amid easing concerns around North Korea.

Morning Headlines

Payroll tax dodge

$A creeps up, back to the 80 US cents mark

The Australian dollar has inched higher to creep just above 80 US cents.

Oil holds near five-month high

Brent oil prices have held near five-month highs and were on track for the biggest weekly gain since late July, on forecasts for rising demand and the gradual restart of US oil refineries.

Gold falls on ECB, Fed tightening prospect

Gold prices have fallen after a European Central Bank (ECB) official calls for scaling back the bank's stimulus program, although losses were capped when weaker-than-expected US economic data raised questions about further interest rate hikes.

Howard Park Wines sparkles in world championship win

Howard Park Wines recently flaunted its fizz at the Champagne & Sparkling Wine World Championships held in London, with its Jeté label winning the award for ‘best Australian sparkling wine’.

Shares down 43.7pts

The Australian share market has closed lower for a third consecutive session as North Korea's latest missile launch over Japan spooked investors.

Kobelke to head Swan Valley inquiry

Former police minister and Labor member for Balcatta, John Kobelke, has been appointed to head a review of the Swan Valley’s planning framework, Planning Minister Rita Saffioti announced today.

Solid steps ensure customer loyalty

OPINION: Before you receive loyalty from your customers, you’ll need to show some within your own workplace.

Qantas boss Joyce snares $24.6m payday

Qantas chief executive Alan Joyce's annual pay has soared to nearly $25 million, catapulting him into the ranks of the best-paid bosses in Australian corporate history, after he successfully steered the carrier's turnaround with two consecutive years of profit.

Servtech sells rent roll for $1.5m

Osborne Park-based software as a service provider Servtech Global has agreed to sell its rent roll business in two parcels totalling $1.5 million to Summit Development Corporation, part of the Summit Homes Group, and Housemart Real Estate.

ICWA steps up Bell Group spending

The Insurance Commission of Western Australia increased spending on the Bell Group litigation to $9.6 million last financial year, while also revealing in its annual report it has applied to the Supreme Court for a single trial to cover all related matters.

Juniors raise $13m

Four local mining hopefuls have raised $13.2 million between them for new projects, with Egan Street Resources and Ardea Resources in the two biggest deals.

Mark my words podcast

In this Business News podcast Mark Pownall and Mark Beyer discuss Nev Power leaving FMG, safe harbour legislation, women on WA boards, stamp duty setback and labour markets.