Latest Headlines

23 Mar 2020

US crude tumbled 10.7 per cent on Friday and posted its biggest weekly decline since the 1991 Gulf War as the coronavirus epidemic dried up global demand and as officials in Washington said an envoy would head to Saudi Arabia to deal with fallout of a Saudi-Russia oil price war.

Gold rises as virus-led cash run ends

23 Mar 2020

Gold rebounded on Friday, rising as much as 3.1 per cent, as a wave of fiscal and monetary stimulus by global central banks to counter the economic impact from coronavirus spread halted investors lure for cash.

$50bn+ for business in pandemic package

22 Mar 2020

A $20 billion loan guarantee for small businesses, $31.9 billion of grants to encourage small businesses to keep workers and $18 billion of support for welfare recipients and people who lose their jobs are the key elements in the federal government’s second round COVID-19 economic response.

Mark my words podcast

Mark Pownall

Mark Beyer

20 Mar 2020

PODCAST: Mark Pownall and Mark Beyer discuss the market overview in these dramatic times, government and industry policy responses, travel challenges, earning guidances, businesses taking on staff, Acciona and CPB Contractors going head to head, Cottesloe aged care and apartment project, and our special report on the ICT sector.

ASX finishes worst week in over 11 years

20 Mar 2020

The Australian share market has finished its worst week since October 2008 with a modest daily gain.

Telstra

COVID-19 daily wrap: PM tightens indoor gatherings

20 Mar 2020

PM Scott Morrison announces further restrictions on indoor gatherings. He also announced a delay to the federal budget. Australia has recorded its seventh COVID-19 death. WA has 12 new cases.

Iris Residential

Iris nears construction start at Booragoon

Dan Wilkie

20 Mar 2020

Iris Residential has overcome a range of challenges to build its Booragoon apartments project, to begin within weeks.

Extra cash to aged care to cope with virus

20 Mar 2020

The federal government will pour an extra $444.6 million into aged care facilities, including money to help them hold onto staff amid the coronavirus crisis.

Neometals

Neometals surprises with $10.9m in dividends

Jessica Mascione

20 Mar 2020

Lithium miner Neometals has declared a partially franked dividend of 2 cents per share, despite challenging economic times and after the company delivered $45 million to shareholders over the past four years.

BHP

Big Australian in jobs boost

20 Mar 2020

BHP will hire 1,500 temporary workers across the country on six month contracts, with at least 400 to be at Western Australian iron ore operations, Business News understands, while Woodside has pledged to cut payment times for contractors.

Curtin University

Universities prepare students for online move

Jessica Mascione

20 Mar 2020

Curtin and Murdoch universities have introduced early semester breaks to prepare students and staff for a transition to online learning, in response to the global COVID-19 pandemic.

Wesfarmers

Wesfarmers unable to quantify impact

Jessica Mascione

20 Mar 2020

Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.

National Australia Bank

Aust small businesses to get loan relief

20 Mar 2020

Small businesses impacted by the coronavirus crisis will be able to defer their loan repayments for six months under a plan put forward by the banking industry.

Mapien

Confusion over awards to blame for underpayments

Jordan Murray

20 Mar 2020

The underpayment of staff highlights the complexities of Australian labour laws.

Telstra

Telstra halts job cuts, suspends late fees

20 Mar 2020

Telstra has frozen its job cutting program for six months, suspended late payment fees and disconnections, and has invited stood-down Qantas employees to apply for 1,000 temporary jobs to help virus-proof the economy.

ANZ Banking Group

Aust stocks jump 3% as confidence rises

20 Mar 2020

Big banks have led an almost three per cent surge in Australian shares after an overnight buying spree on US and European markets .

Morning Headlines

Cameron Drummond

20 Mar 2020

Chamber boss stares down virus with bold claim

Gold drops 1% as investors cash out

20 Mar 2020

Gold prices slipped more than 1 per cent on Thursday as the dollar jumped to multi-year highs, with the coronavirus pandemic threatening to cripple economic activity and prompting investors to sell assets to keep their money in cash.

BHP

BHP improves payment terms

Mark Beyer

19 Mar 2020

BHP will start paying invoices from small business suppliers after just seven days and has created a $6 million fund to support labour hire companies affected by COVID-19.

West Australian Opera

Arts sector says the show must go online

Madeleine Stephens

19 Mar 2020

The performing arts sector is coming up with new ways to ensure people are entertained, in light of government restrictions on indoor events attended by 100 people or more as a result of the COVID-19 pandemic.

COVID-19 daily wrap: First community transmission in WA

19 Mar 2020

Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

DevelopmentWA

Metronet precincts defined in eastern suburbs

19 Mar 2020

Large portions of Bayswater and Forrestfield have been defined as Metronet precincts, with state government agency DevelopmentWA to guide future development in the areas.

Dexus

ASX plunges again to hit fresh four-year low

19 Mar 2020

The Australian stock market has shrugged off an emergency rate cut from the Reserve Bank, hitting a fresh four-year low in the process, while the Australian dollar has sunk to an 18-year low.

Mineral Resources

MinRes in $30m asset sale

19 Mar 2020

Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison’s company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.

FBR

FBR slashes spending, activities

Mark Beyer

19 Mar 2020

Robotic bricklaying company FBR has slashed its workforce, saving $10 million per year, and postponed the construction of its first display home, which was due to commence in a matter of days.

Westpac

RBA in unprecented rescue package

19 Mar 2020

Two new facilities to support lending worth a combined $105 billion are key elements of the Reserve Bank and federal government’s plans to support the economy in response to COVID-19, while the RBA cut rates to 0.25 per cent and promised an unprecedented target on government bond yields.

Zenith Energy

Zenith wins power supply extension

19 Mar 2020

Zenith Energy will increase the capacity of a power station at one of Toronto-based Superior Gold’s operations in Western Australia after receiving a 52-month contract extension.

Deutsche Bank

Focus on jobs, not cash splash: Deutsche Bank