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Gold up as weak data underpins growth fear

Gold has risen to its highest level in over six months as weak factory activity data in Europe and Asia compounded concerns of a global economic slowdown and weighed on stock markets, increasing the precious metal's appeal.

Oil price up 2% but demand concerns weigh

Oil prices are up about two per cent amid choppy trading supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.

Thumping surplus for Wyatt but economic numbers sour

The state’s financial outlook has improved since the May budget by about $3 billion across the next four years, with iron ore royalties and federal grants doing the heavy lifting, but the domestic economy will again shrink this year.

Aurora signs JV with WorleyParsons

Local tech company Aurora Labs has signed a joint venture agreement with WorleyParsons to provide an additive manufacturing service primarily for the resources sector.

Kewdale property sells for $45m

Charter Hall Group has acquired Coca-Cola Amatil’s principal Western Australian production facility for $45.25 million.

WA population growth at 0.8%

New data out today reveals population growth in Western Australia remains subdued, with only a slight rise recorded in the year to June, while nationally the population increased 1.6 per cent.

Koolyanobbing bail-out cost revealed as $182m

The state government’s Koolyanobbing mine bail out will cost $182 million, according to budget details released today.

WA jobless rate spikes to 6.5%

Western Australia has regained the mantle of the highest unemployment in the country, after a 0.8 per cent uptick in the jobless rate in November.

Brookfield gets green light for $480m in Perth office projects

Perth’s next wave of CBD developments is taking shape, with Brookfield Property Partners’ plans to add an 8-storey office tower to a redeveloped Elizabeth Quay busport approved this week, and its $360 million riverside headquarters for Chevron also understood to have gotten the nod from planning authorities.

Tropicana underground to cost $95m

A pre-feasibility study released today by Peter Bradford-led Independence Group has confirmed the viability of an underground mine at the Tropicana gold project.

$95bn of projects ahead for WA

Woodside Petroleum’s Browse and Scarborough LNG developments are the biggest of $95 billion of major projects under way or likely in Western Australia, with 96 ongoing and a further 68 probable.

NXT Tec raises bar for sustainable builds

A WA-based construction industry disruptor has delivered a world-first in environmentally sustainable building.

Summer Nights heat up the Blue Room

As business winds down ahead of the Christmas break, The Blue Room Theatre is ramping up its offering with the release of its Summer Nights campaign for Fringe World Festival 2019.

Westerman delivers on indigenous health

WA’s 2018 Australian of the Year, and former 40under40 winner, Tracy Westerman is not slowing down in her push to improve mental health in remote indigenous communities.

ASX hits two-year low after opening dive

Early gains for supermarket stocks haven't stopped the Australian share market dipping to a fresh two-year low, with the bourse mirroring a Wall Street tumble following the US Federal Reserve rate hike.

Morning Headlines

Warning of deaths over solar panels

Oil rebounds on signs of strong demand

Oil prices rose overnight, recovering somewhat from a sharp selloff during the previous session, after US data showed strong demand for refined products.

Gold price falls as Fed raises rates

Gold prices fell overnight, giving up earlier gains, after the US Federal Reserve raised interest rates and noted that "some" further gradual rate hikes would be needed next year.

Oil price collapse hits ASX energy sector

Global traders have fled growth assets like copper and oil for the safety of gold, punishing Australian energy stocks while lifting fuel-dependent airlines and gold miners.

City of Perth wins $1.3m tech grant

A ‘smart’ irrigation system using weather forecasts and soil moisture readings to adjust watering is one of four City of Perth projects set to get underway after a $1.3 million federal government grant was secured.

Sheffield turns focus to asset sales as office interest grows

Commercial property agency Sheffield Property Group has established an asset management division in anticipation of increased transactional activity in Perth’s office market in 2019.

Forecasting complicates Westport planning

A Chinese banking crisis that leads to a significant economic downturn might considerably delay Fremantle harbour reaching its container capacity, while other scenarios might accelerate traffic, according to previously unpublished economic modelling by Deloitte.

Lendlease secures $53m tunnel contract

Diversified contractor Lendlease has secured a $53.2 million state government contract to provide maintenance services for the Graham Farmer Freeway tunnel for the next six years.

Finbar facing stinky situation at Palmyra apartments

Finbar Group is embroiled in a court battle over whether it has to tell potential buyers of apartments at its $50 million Palmyra project that the D’Orsogna factory across the road may produce bad smells.

Appointments wrap

Former Synergy executive Stephanie Unwin is set to lead regional energy retailer Horizon Power next year, while Screenwest, SNC-Lavalin, Worksafe WA and Destination Perth have also announced significant appointments.

$50m Harvey Beef expansion plan

Andrew Forrest’s agribusiness portfolio is set for a big expansion, with his Harvest Road Group planning a 60,000 head per year cattle development worth up to $50 million in the wheatbelt.

NAB, ANZ confirm strikes on exec pay

National Australia Bank is scrapping its overhauled executive pay structure in response to an overwhelming first strike in which more than 80 per cent of shareholders voted against it.

Reiwa backs new property lending policy

The nation's banking regulator says it will remove a cap on interest-only loans for residential property, on the grounds that the measure had reached its objective of curbing higher-risk lending practices.

OECD keeps tax reform agenda alive

Reform to cut the government’s dependence on income and company taxes remains a high priority for Australia, according to the Organization for Economic Cooperation and Development, while contingency plans are urgently needed in case of a sustained fall in house prices.

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