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ASX tumbles as trade truce fades

The Australian share market suffered near-across the board losses as the positive sentiment from the trade truce brokered at the G20 summit dissipates.

FBR and Caterpillar cancel agreement

FBR and Caterpillar have terminated their memorandum of understanding for Caterpillar to build and distribute FBR’s robot bricklaying machines worldwide.

RBA holds cash rate at 1.5% for 28th month

The Reserve Bank has kept the official cash rate at a record low and reiterated its economic growth forecasts, but is keeping a close eye on the stumbling east coast housing markets.

Centuria in $24m WA buy

ASX-listed property investment fund Centuria has acquired two adjacent industrial properties in Perth’s eastern suburbs for $23.8 million.

Valmec, WestStar win contracts

Valmec has secured $25 million worth of construction contracts, including at Mineral Resources’ Wodgina project, while fellow local contractor Weststar Industrial was awarded a $4 million contract at Rio Tinto’s West Angelas mine near Newman.

Live export summer ban approved

Exporters have agreed to place a three-month moratorium on sheep exports to the Middle East, months after TV footage revealed poor conditions on board a live export vessel departing Fremantle.

WA govt ups subbies' protection

Subcontractors WA chair Louise Stewart has welcomed the state government’s decision to expand the use of project bank accounts (PBAs) to protect subcontractors, but is pushing for the introduction of legally binding statutory trusts.

Early settlement boosts Cedar Woods’ first-half earnings

Cedar Woods Property has received an unexpected first-half earnings boost, after the $58 million sale of a commercial building in Victoria settled ahead of schedule.

Nuheara raises $5m

Nuheara has tapped investors for $5 million to primarily fund an increase in inventory levels and marketing for its IQbuds Boost hearing bud, after winning a contract to supply the UK’s National Health Service with the product.

Seven West hires Daily Telegraph deputy ed

Seven West Media has hired The Daily Telegraph deputy editor Anthony De Ceglie to head up its Western Australian newspaper division.

Seedbank drives mine site rehab

The culmination of a five-year mine site rehabilitation project backed by BHP has created a slew of prospects for researchers and major mining companies.

Tech Scene - Idle Australia

Idle Australia has launched an online platform allowing customers to efficiently search, compare and book construction equipment hire from local trade and hire companies.

Cott, Claremont show up Subi

Two retail strips in the heart of the western suburbs have reduced their vacancy rates during the past 15 months despite the rise of online shopping.

Banks, energy drag ASX down in early trade

Australian shares have edged lower at the open, with the heavyweight mining and financial sectors dragging and energy stocks also in the doldrums.

Oil up on trade truce, likely supply cuts

Oil prices jumped nearly four per cent after the United States and China agreed to a 90-day truce in a trade dispute and Canada's Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.

Gold up as truce triggers dollar sell-off

Gold gained one per cent overnight, hitting its highest in more than three weeks, boosted by a sell-off in the dollar after the United States and China called a truce on fresh trade tariffs for 90 days.

Morning Headlines

PM to end leadership turmoil

BGC appoints Macquarie Capital

The planned sale of BGC Australia has taken another step forward with the appointment of investment bank Macquarie Capital as corporate adviser to the family-owned business.

Delron underpaid workers $447,000

Perth-based commercial cleaning company Delron Cleaning has agreed to ongoing scrutiny of its workplace arrangements by the Fair Work Ombudsman after it was found to have underpaid staff more than $447,000.

NAIF backing for another miner

Verdant Minerals has entered into a non-binding agreement for a $160 million debt facility from the Northern Australia Infrastructure Fund, adding to a string of mining projects in recent months to reach a funding agreement with the fund.

ASX surges on China-US trade truce

The Australian share market surged higher following a 90-day truce on tariffs between the US and China, with energy and mining stocks recording significant gains.

Scott embraces disruption at Wesfarmers

Disruption, a demerger and divestments are shaping Wesfarmers’ long-term approach to growth, managing director Rob Scott told last week’s Success & Leadership breakfast.

IGA owner loses Woolies appeal

The Supreme Court has dismissed a review application from the owner of the Canning Bridge IGA regarding a new Woolworths development in Mt Pleasant.

Resonance soars on FDA approval

Shares in Resonance Health have doubled today after its FerriSmart technology, which uses machine learning to quantify liver iron concentration, received FDA approval.

CoreLogic reveals house prices fall

CoreLogic has revealed a decline in Perth house prices for November, which is at odds with the Real Estate Institute of Western Australia’s data suggesting prices increased last month.

Court overturns approval for Dunsborough petrol proposal

The developer behind a long-running bid to build a 24-hour Puma service station in Dunsborough faces an uphill battle to get the project approved, after Western Australia’s Court of Appeal overturned a Supreme Court ruling that gave it the go-ahead last year.

Piedmont raises $12m

Piedmont Lithium has tapped investors for $12.2 million to fund an expansion and upgrade at the company’s namesake project in the US state of North Carolina.

Laura Ashley enters administration again

Laura Ashley has been placed in administration for a second time, falling victim to the same forces that have claimed a raft of Australian retailers.

GrainCorp surges on $2.4bn buyout offer

GrainCorp shares surged by more than a third after the drought-hit grain handler received an all-cash $2.38 billion takeover bid from little-known asset manager Long-Term Asset Partners.

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