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Wall St edges higher as retail stocks gain

Wall Street has edged higher as retailer Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.

Oil gains after crude, petrol stocks fall

Oil prices have gained ground, shaking off the effects of a strengthening dollar, after an inventory report showed US crude and petrol stocks fell more than expected.

Morning Headlines

Jobs boost tipped as business outlook lifts

First State makes $190m Freo foray

First State Super has made its first major investment in Western Australia, with the Sydney-based superannuation fund signing a $190 million funding agreement with Sirona Capital for the Kings Square Fremantle redevelopment.

Community culture works for WASO

WA Symphony Orchestra has deep roots planted firmly across Western Australia, having spent 90 years connecting with communities beyond its core audience of classical music aficionados.

Oil price gains fuel share market rise

The Australian share market closed higher as energy companies were boosted by higher oil prices.

Retractions spike highlights compliance, policing

There has been a big increase this year in the number of ASX-listed companies, primarily junior explorers in WA, forced to retract announcements.

Pact wins $12m school contract

PACT Construction has secured an $11.5 million state government contract for the second stage of construction at Aspiri Primary School in the south-east of Perth.

Black & White Cabs sold for $8m

Melbourne-based P2P Transport has announced plans to acquire Black & White Cabs, which has operations in Western Australia, in a cash and scrip deal worth $8.1 million.

Sheffield signs Derby port agreement

Sheffield Resources has signed a 20-year access agreement with the Port of Derby, allowing the company to export from its planned Thunderbird mineral sands project, located on the Dampier Peninsula.

Tap board rejects $30m takeover

The board of Tap Oil has recommended shareholders reject a $29.8 million takeover from major shareholder Risco Energy Investments, saying the proposal is opportunistic and undervalues the company.

Govt backs barramundi farm, Warburton resigns

The $5 billion Northern Australia Infrastructure Fund has finalised its second deal, providing nearly $30 million to a barramundi farm in the Northern Territory, two weeks after chair Sharon Warburton stepped down.

Scarborough sale heralds rental plan

A Singaporean investment manager has bought the Sunmoon Boutique Resort in Scarborough for $8.3 million, with plans to transform the property into one of Australia’s first build-to-rent projects.

Myer blames warm weather for profit woes

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Oil price rise rouses small players from their slumber

A bump in the oil price has reinvigorated the fortunes of several small oil and gas explorers in WA.

Aust stocks defy Wall St losses

Australian shares have opened slightly higher, shrugging off a fall on Wall Street overnight, helped by overnight gains in oil prices and a lift in mining stocks as the Aussie dollar falls

$A falls after poor US retail figures

The Australian dollar is lower after US stocks fell almost one per cent, amid worries about US-China trade relations and the release of disappointing US retail spending figures.

Oil prices rise on US stockpile concerns

Oil prices settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that US sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.

Gold falls to a new 2018 low

Gold slid more than one per cent on Tuesday, falling for a third day to hit its lowest this year as a rise in US borrowing costs pushed up the US dollar and overshadowed the impact of strife in Gaza.

Morning Headlines

GST changes backed, Morrison reaches out

Fewster named Acting CEO at Seven West WA

Former iiNet executive Maryna Fewster has been appointed acting chief executive of Seven West Media’s WA operations, following last Friday’s surprise announcement that John Driscoll would be stepping

New infill drive to deliver 5,000 homes

While the push for more urban infill across Perth is nothing new, the state government has lifted its game today with the release of Western Australia’s largest collection of infill opportunities to market, calling on the private sector to help achieve its vision.

Market falls as Telstra continues to slide

The Australian share market lost ground amid widespread losses, including sharp falls in the telco sector following Telstra's earnings warning.

Chevron proposes shared offshore pipeline

Chevron Australia managing director Nigel Hearne has proposed a major shift in the development of WA’s offshore gas reserves, suggesting the industry should collaborate to build a multi-user pipeline to be shared by multiple LNG producers.

Lycopodium named for mineral sands study

Local engineering firm Lycopodium and Queensland-based Mineral Technologies have been appointed to deliver a pre-feasibility study for Base Resources’ Toliara mineral sands project in Madagascar.

Future tech drives network investment

Telstra is spending about $140 million annually on upgrading and expanding its network in Western Australia, as it seeks to enable the uptake of new technology such as the internet of things in mining, agribusiness and other industries.

Yujnovich calls for stronger industry voice

Shell Australia chair Zoe Yujnovich told today’s APPEA conference the oil and gas industry needed to be more active in defending its record, as protesters came together outside the Adelaide conference.

Auris soars on Sandfire JV drilling results

Shares in Auris Minerals have risen after the company’s joint venture partner, Sandfire Resources, released promising drilling results from the Morck’s Well East copper project in the Bryah Basin.

Pica showcases emerging artists

Perth Institute of Contemporary Arts will launch its 27th Hatched: National Graduate Show this Friday night, showcasing 30 new graduates from across the country, including five local artists.

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