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Finders takeover offer unconditional

Finders Resources’ major shareholder, Eastern Field Developments, has changed its hostile takeover bid for the copper miner to 'unconditional' status, with the Indonesian consortium continuing to raise concerns about the company’s Wetar project.

Cormann to be acting PM, Turnbull changes code of conduct

Western Australian senator Mathias Cormann will be Acting Prime Minister next week, with Malcolm Turnbull and Julie Bishop overseas and the embattled Barnaby Joyce to take leave.

Health, industrial units perform for Tox Free

Waste management company Tox Free Solutions has reported a 20 per cent increase in profit in the half year to December, to $7 million, as the company works through an acquisition by Cleanaway.

WA's electoral system 'stuck in the past'

Western Australia's electoral system has become stuck in the past amid outdated legislation and a lack of funding, a parliamentary inquiry into the 2017 state election has found.

Telstra dividend cut as profit falls 5% in first half

Telstra has cut its dividend after the telecommunications provider's first-half profit fell almost 5 per cent to $1.7 billion.

Explaurum raises $8m for Tampia

Brisbane-based gold hopeful Explaurum has raised $8.3 million to progress its Tampia gold project in Western Australia's Wheatbelt.

Profit down at Newcrest and Evolution

Gold producers Newcrest Mining and Evolution Mining reported lower profits for the first half of the financial year, with Newcrest also disclosing the Telfer mine had a negative cash flow of $9 million for the period.

Women win as unemployment rate steadies

Western Australia’s unemployment rate has steadied at 5.7 per cent in January, seasonally adjusted, despite a slight dip in the number of people employed.

South32 ups payout despite 12% profit slide

South32 has lifted its shareholder payout after improving its first-half underlying profit on the back of stronger commodities prices.

Uber's net loss widens to $4.5 billion

Ride-hailing giant Uber's full-year net loss widened to $US4.5 billion in 2017 as the company endured a tumultuous year that included multiple scandals, a lawsuit alleging the theft of trade secrets, and the replacement of its CEO.

Aust shares open sharply up on US lead

The Australian share market is sharply higher in early trade after gains of more than one per cent on US markets overnight and amid a plethora of ASX-listed company results.

Morning Headlines

Myer rescue strategy in tatters

$A over US79 cents after US inflation figs

The Australian dollar has jumped above 79 US cents with the US currency remaining weak after US inflation figures came in higher than expected.

Oil rebounds on US inventory numbers

Oil prices have rebounded after US crude stocks rose less than expected and Saudi Energy Minister Khalid al-Falih said major oil producers would prefer tighter markets than to end supply cuts too early.

Gold rebounds amid post-CPI weaker $US

Gold prices have climbed nearly two per cent, rebounding from early losses that followed stronger-than-expected US inflation data, as the dollar surrendered gains and equities swung higher.

Foreign investor eyes student accommodation opportunities

Singaporean company Wee Hur Holdings is set to join Perth’s wave of student accommodation developments, following today’s announcement it has recruited Sydney-based Intergen Property Group as the fund’s onshore investment manager with a $700 million mandate to find new development opportunities across Australia.

More board ructions at Perth Mod

Former Western Australian governor Ken Michael has been elected chairman of the board at Perth Modern School, but only after two more board members resigned yesterday ahead of a crucial meeting last night.

The ‘stall’ is your golden opportunity

The more prepared you are for a knockback, the better the chances it won’t derail the sale.

Genome helps breed better breads

Scientists are refining the information needed to cross-breed wheats for improved crop yield and bread production.

MBA maintains, builds on roots

From skills shortages and new regulations to policy formation and industrial disputes, the Master Builders Association has played an important role in advocating for the state’s building and construction industry since 1898.

Shares slide ahead of US inflation data

The Australian share market weakened as caution ahead of the release of key US inflation data outweighed better than expected earnings reports from several companies.

Junior miners raise $30m

Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London’s AIM.

Dexus plans $165m office revamp

Commercial property owner Dexus has budgeted to spend $165 million on 240 St Georges Terrace, with works to commence in 2019 following the departure of the building's largest tenant Woodside.

Yowie tumbles on US competition

Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.

Myer CEO pushed out the door

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

Liquor reforms drive change for tourism

State government agency Tourism WA will have greater input into decisions on liquor licence applications, after Premier Mark McGowan today announced a series of regulatory reforms and red tape cuts.

Carnegie JV in $7m solar win

Carnegie Clean Energy’s joint venture with contractor Lendlease has won its second contract in a week, with the partnership to design, construct and operate a $7 million solar project in NSW.

Honey picked for Cottesloe

Alcoa of Australia manager and Kwinana Industries Council president David Honey has been preselected as the Liberal candidate for a by-election in the seat of Cottesloe.

Scarborough tipped as next big LNG development

A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.

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