Latest Headlines

Fortescue boss tenders resignation

After seven years at the helm of Fortescue Metals Group, Nev Power has announced he will hand over the reins and take a much-needed holiday.

Horizon beats subsidy cut target

State-owned regional power provider Horizon Power has recorded a $35.4 million net profit for the year to June, while hitting its targeted reduction of government subsidies more than a year ahead of time.

North Korea missile weighs on local market

The Australian share market has opened lower with investors nervous after North Korea fired a missile over Japan for the second time in a month, re-igniting geopolitical tensions.

Morning Headlines

Casino takings hit as high rollers stay away

$A slips slightly against $US

The Australian dollar is slightly lower against its US counterpart which enjoyed a brief boost from US CPI data before turning back lower.

Oil at 5-mth high on weak $US, glut hopes

Oil prices have risen, with Brent closing at a five-month high, as the US dollar weakened and after a string of reports forecasting the market would tighten further as fuel demand increased.

Gold up off 2-wk low as $US extends losses

Gold has rebounded from a two-week low as North Korea threatened the United States and Japan, and the dollar softened despite strong US consumer inflation data, which could allow further interest rate increases from the Federal Reserve.

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

Christo Moll, Murray Quartermaine named in federal inquiry papers

Allegations that late High Court judge Lionel Murphy had been involved in a tax avoidance scheme in Western Australia are contained in classified documents considered by a Parliamentary Commission of Inquiry released in Canberra today.

Playing catch-up not a winning strategy

OPINION: As technology increasingly cuts out the middleman, the WA government’s investment in facilities at Perth Airport may have short-lived benefits.

Shares down 5.6pts

The Australian share market has finished slightly lower for a second day running as mining stocks dipped but better-than-expected jobs growth helped lift the Australian dollar back around US80 cents territory after an overnight dip.

Castillo in $3.4m raising

Castillo Copper has raised $3.4 million as the company seeks to undertake drilling to reopen the Cangai copper mine in NSW.

Kings Square promises unique Freo offering

Property developer Sirona Capital has today unveiled plans for the 5,500 square metres-plus retail component of its $270 million Kings Square project in Fremantle.

Pancontinental in $US7.7m Namibian deal

Shares in West Perth-based energy hopeful Pancontinental Oil & Gas were up 33 per cent today after the company sold part of its stake in a Namibian offshore exploration licence to Africa Energy for $US7.7 million ($9.6 million).

Brierty's Rio Tinto, Newmont contracts torn up

Two of the largest contracts held by fallen Perth company Brierty have been terminated, as uncertainty hangs around the company’s future after last week's appointment of administrators.

Perth stores safe, for now, as Myer cuts back

Myer's six Perth stores appear to have escaped the chop, with the retailer instead closing an additional three interstate stores as it struggles to turn around sluggish sales amid weak consumer spending and growing industry competition.

WA unemployment up to 5.9%

Unemployment jumped 0.5 percentage points in August to a seasonally adjusted 5.9 per cent in Western Australia, according to the Australian Bureau of Statistics.

Empire production assets under receivership

Updated: Empire Oil & Gas has appointed voluntary administrators to its wholly-owned Empire Oil subsidiary, which controls its core Red Gully assets.

Vocus may face shareholder class action

Shares in Vocus Goup have held steady despite a proposed class action alleging the telecommunications provider engaged in "misleading and deceptive conduct" and breached disclosure obligations.

Aust shares open a little lower

The Australian market has opened slightly lower, ignoring the positive lead of Wall Street and most major international bourses.

Morning Headlines

Perth Airport owners land $300m windfall

Oil up as IEA forecast trumps US build

Crude oil prices have risen after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink, even though US data showed another big increase in domestic inventories due to Hurricane Harvey.

Gold falls to 1-1/2-week low as $US rises

Gold prices have fallen to a one-and-a-half-week low, erasing earlier gains as the US dollar index jumped, though a retreat in global stocks after Tuesday's record high prevented deeper losses.

Nahan calls for parliamentary budget office

Opposition leader Mike Nahan has called for a parliamentary budget office to be established as part of his budget reply speech today, while lashing out at Labor for not funding the Ellenbrook rail line.

Share market down 2.1 points

The share market surrendered its early gains to close relatively steady as investors practised caution ahead of US inflation data and Australian jobs figures out later in the week.

McGowan wants Labor leaks to stop

Premier Mark McGowan says he is disappointed internal documents have been leaked to the opposition following the state budget last week.

Lithium Australia, Poseidon in MOU

Poseidon Nickel has secured its fourth memorandum of understanding to develop the Lake Johnston nickel project, with today’s move to explore for lithium with Lithium Australia.

Housing failures compounded by fractured oversight regime

OPINION: The lack of national oversight of home construction activity puts small investors in a vulnerable position.

1-Page sells US business

Listed company 1-Page is looking for new ways to spend its $26 million cash balance after selling its US technology business, which lost about $45 million over three years.