Latest Headlines

Oil up on supply cuts, Saudi tension

Oil prices have risen nearly one per cent, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.

MinRes swoops on Empire assets

Mineral Resources has acquired Empire Oil & Gas’s Perth Basin assets, including the Red Gully processing plant, just more than a month after the energy junior entered administration.

Junior miners to raise $12m

Peel Mining has announced completion of a $6 million share placement to fund work on its zinc-lead project while Triton Minerals has launched an entitlement offer for the same amount.

Decmil awarded $75m BHP contract

Osborne Park-based Decmil Group has won a $75 million contract with BHP Billiton to upgrade and expand accommodation for the miner's existing operations and its planned South Flank iron ore project near Newman.

Goldfields Money rejects increased Firstmac offer

The board of Kalgoorlie-based bank Goldfields Money has knocked back a fresh takeover bid from Brisbane financial business Firstmac Holdings, which valued the company at $1.27 per share.

Real estate representative gets lifetime ban

A former real estate sales representative has been permanently banned from holding a Western Australian certificate of registration after the State Administrative Tribunal found she fabricated a se

Forrestfield sites sell for $9m

Professional services firm JLL has brokered the sale of two Forrestfield industrial land holdings for a total of $9.4 million.

Rally sends market well above 6,000 points

The share market has closed higher for a third straight session as a lift in iron ore prices boosted miners and most of the big banks gained ground.

Tech offers home-based rehab

Technology that recently arrived in Perth from New Zealand could improve rehabilitation outcomes for multiple sclerosis and stroke patients, offering the potential to speed-up recovery while reducing the need to travel for treatment.

McKenna new Screenwest CEO

The state’s peak body for screen funding and development, Screenwest, today announced the appointment of Seph McKenna as its new chief executive, succeeding Ian Booth.

Eastern to raise $30m for Davyhurst and Mt Ida

Eastern Goldfields has announced a conditional deal with an international asset manager to raise up to $30 million, with the proceeds used to maintain operations at the company’s Davyhurst gold ope

Optus acknowledges NBN speed issues

Optus is offering to compensate customers that have not received the National Broadband Network speeds they were promised.

Santos puts focus back on NSW gas

Energy firm Santos will once again back the controversial Narrabri coal seam gas project in NSW as it seeks to boost production as part of its turnaround plan.

Citibank repays $4.3m to cardholders

Citibank will refund customers more than $4.3 million after failing to give back outstanding credit card balances, and providing misleading statements about unauthorised transactions. 

Austal denies closure threat

Perth-based shipbuilder Austal has denied it sent an update to shareholders signalling the potential closure of its Henderson shipyard, with chief executive David Singleton telling Business News the company was strongly positioned to remain in Western Australia.

Aust shares stay positive in early trade

The Australian share market is higher in early trade, as investors hold on to the positive momentum from the past few sessions.

Risk sentiment pushes $A up against $US

The Australian dollar is higher against its US counterpart as risk sentiment remains positive with no major news to give direction.

Possible US tax cut plan delay lifts gold

Gold has risen and is hovering near a three-week high as the US dollar retreated on expectations of possible delays in long-awaited US tax reforms, while palladium hit its highest since 2001.

Oil steady on Mid-East tensions, US output

Oil prices are little changed as rising political tensions in the Middle East offset US government data showing an increase in domestic crude production and a surprise build in stockpiles.

Morning Headlines

600 ship jobs could go: Austal

Structural Monitoring in $10m manufacturing buy

Shares in technology business Structural Monitoring Systems were up 18 per cent today after the company announced a $10 million acquisition of Canadian company Aerodyne Electronics Manufacturing Corporation, and completion of a $13 million raising.

Govt to privatise renewables

Synergy intends to develop up to 280 megawatts of renewable energy projects in WA by 2020 after the McGowan government approved plans for a private investor to acquire a majority stake in its existing wind farm and solar farm and in two new projects.

Market steady at 10-year high

The share market remains at its highest level in almost a decade after a steady session during which Commonwealth Bank shone and iron ore miners lost ground but proved resilient to a fall in China'

Government backs mutual change

The federal government has announced it will adopt a host of Senate committee recommendations aimed at improving mutual and cooperative firms’ ability to raise capital.

Civmec reports $3.5m profit

Engineering and construction contractor Civmec, which plans to list on the Australian Securities Exchange, has reported a quarterly net profit of $S3.7 million ($A3.5 million) and modest growth in its order book.

Former Perth financial adviser banned for 10 years

The Australian Securities and Investments Commission has banned a former Perth-based financial adviser from providing financial services for 10 years, while an ex-Commonwealth Bank financial planne

Barnaba new Fortescue deputy chair

Fortescue Metals Group has appointed Mark Barnaba as the company’s new co-deputy chair, alongside Sharon Warburton.

Ardent boss Kelly quits after five months

Ardent Leisure chief executive Simon Kelly will step down after only six months in the job in the latest of many changes to the embattled theme park-leisure centre operator's leadership group and b

Art at the heart of a revitalised Perth inner city

The private sector has matched public funds dollar for dollar in 2017 to support the Historic Heart of Perth project, which aims to revitalise the east end precinct through public art and streetscape improvements.