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Zeta to increase stake in GME

Peter Sullivan-led Zeta Resources is set to increase its position in Perth-based nickel company GME Resources to nearly 50 per cent following the acquisition of investment firm Axelrock for $50.1 million.

Shareholders take legal action against Quintis

Quintis has revealed that a group of shareholders is taking legal action against the embattled sandalwood producer in relation to a supply contract with pharmaceuticals company Galderma.

WA jobless slightly up

Western Australia’s unemployment rate rose 0.1 percentage points in October to be 5.8 per cent in trend terms, while the national number remained unchanged at 5.5 per cent.

Share market rises on energy stocks

The share market has closed higher as takeover speculation fueled a big gain for gas giant Santos and other sectors recovered from early weakness.

Boundlss builds health AI

Local tech startup Boundlss has ambitious plans to take its artificial intelligence health app to insurers across the globe, and is seeking to raise $4 million by February to help it achieve its goal.

Variety develops in Perth’s east

A seven-storey apartment project at Ascot Waters has added more variety to the market in Perth’s eastern suburbs, with the developer saying it has attracted potential buyers from other parts of the city.

SCEE $32m placement to facilitate growth

Southern Cross Electrical Engineering will raise $32 million through a share placement to provide working capital as the company’s order book continues to expand.

Takeover talk sends Santos shares soaring

Shares in energy giant Santos have soared to a 15-month high after the company confirmed it recently rejected a takeover offer from a major US investor worth almost $9.5 billion.

Ride the wave, don’t get sucked under

Who has the most to worry about the next wave of digital disruption?

MMA proceeds with major capital raising

Struggling marine services company MMA Offshore will raise nearly $100 million to repay debts and repair its balance sheet, despite opposition from major shareholder Halom Investments.

Aust shares follow negative Wall St lead

The share market is following a negative lead from overseas markets, weighed down by weakness among miners and banks.

Morning headlines

US energy investors lining up $11b tilt for Santos, BHP shale sale moves and more.

$A is steady against $US

The Australian dollar is hardly changed against a little changed US dollar.

Western Power aims for $1bn savings

Western Power plans to reduce spending by nearly $1 billion in the next five years compared to the five years just gone, according to a proposal by the state-owned network operator to the state’s economic regulator.

Oil falls for 4th day, US stockpile rises

Oil prices have fallen for a fourth session after the US government reported an unexpected increase in crude and petrol stockpiles, but an increase in refining runs and a drawdown in distillates he

Gold drops slightly in choppy trade

Gold prices have dropped in see-saw trade, first rising to the highest since October 20, then sliding and hovering near session lows, as the US dollar pared losses.

$30m in contracts awarded for port development

Contracts totaling $30 million have been awarded to Austral Construction and marine solutions business TAMS Group to replace ageing channel markers offshore and within the port of Port Hedland.

Games wins show WA potential

Western Australian game developers received a major shot in the arm last month, with two locally made games awarded at Melbourne International Games Week.

AWE raises $38m for WA gas project

Sydney-based gas producer AWE will raise $38 million via a share placement to fund the next stage of the Waitsia gas field project in the Perth Basin.

Horizon in $7.1m Carnarvon distributed grid plan

Horizon Power will roll out a $7.1 million distributed energy pilot project in Carnarvon, while the state government has unveiled a trial to incentivise demand management by users during peak periods in Broome.

Heritage-listed strip for sale

Five heritage-listed buildings on William Street have been put up for sale by the Metropolitan Redevelopment Authority (MRA), with offers open until December 18.

New Energy, Phoenix engineer ways forward on waste

Two companies pursuing ambitious waste-to-energy projects in WA remain positive despite hitting problems with their original engineering partners.

Companies cheer marriage equality vote

Australian businesses have cheered the nation's majority 'yes' decision in support of same-sex marriage and are urging federal parliament to legislate quickly.

Energy, miners drag ASX lower

The Australian share market has closed lower after sharp falls in oil and base metal prices weighed on energy and mining companies.

Brolga buys Habitat 1

Interior design and construction firm Habitat 1 has been purchased by Broome-based builder Brolga Developments & Constructions.

Holiday Planet sold to UK cruise company

Perth-based travel company Holiday Planet has been sold to UK firm Image Cruising, which is majority owned by international travel giant Emirates Group.

Myanmar $7m raising for Bawdwin

Myanmar Metals has announced a $7 million capital raising that will allow the company to extend the option over its Bawdwin project until May next year and fund ongoing expenses.

Wyatt still open to bank tax despite SA move

Treasurer Ben Wyatt has kept open the possibility of a bank tax in Western Australia, after South Australian Premier Jay Weatherill today quietly dropped his state’s planned tax on the five biggest financial institutions.

WA cafe owners fined $150,000

Two former Bunbury cafe operators have been fined more than $150,000 after deliberately underpaying a number of their employees over a 15-month period, starting in 2013.

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