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Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss house prices, economic growth data, interest rates, WA’s credit rating, gold miners, arts festivals, cryptocurrencies and craft breweries.

Parkd co-founder quits as MD

Parkd co-founder Peter McUtchen is stepping down as managing director and will be replaced by the company’s chief financial officer.

PolarX to raise $4.3m

PolarX will undertake a $4.3 million rights issue, less than a week after it secured the same amount via an earn-in investment from Lundin Mining.

Tech Scene: Unocart

Unocart has launched Uno-Insights to provide real-world analytics for fast-moving consumer goods companies by leveraging mobile technology to capture purchase behaviour in the offline world.

Research investment key at UWA hub

A healthy WA population and economy are twin goals at UWA’s new Life Sciences Innovation Hub.

Mincor to divest gold operations

Mincor Resources will bring a halt to its gold operations by September, having last month announced a capital raising to facilitate the restart of its Kambalda nickel project.

ASX opens higher in broad rally

The Australian share market has opened higher, mirroring gains on Wall Street.

Morning Headlines

Rio Tinto buoyed by Winu copper

Oil up 2% on US-Mexico tariff delay hopes

Oil prices jumped more than two per cent overnight, reversing course after falling to near five-month lows in the previous session following a report that the United States could postpone tariffs on Mexico.

Gold price up on US Fed rate cut prospects

Gold prices rose overnight as fears about the impact of trade wars on the global economy and rising expectations for a US interest rate cut enhanced the metal's appeal.

Box office booms at Fringe World

Box office sales at this year's Fringe World Festival were up by 15 per cent on 2018 figures, while 13 per cent more people attended ticketed events, according to a report released last night.

Onsite wins $30m Rio contract

Rio Tinto has awarded a contract around $30 million to Onsite Rental Group to provide ancillary and light mobile equipment over the next three years.

ASX finishes higher despite mining losses

The Australian share market has finished higher despite losses in the heavyweight mining sector.

Lotterywest lifts retailer commissions

The 500 retail businesses that earned $63 million selling Lotterywest products last year can look forward to higher incomes after the state government agreed to increase their gross commission.

Ausdrill flags write-downs up to $95m

Mining services contractor Ausdrill anticipates a non-cash impairment of between $75 million and $95 million in its results for this financial year.

Sandalwood producer wins UN award

Kalgoorlie business Dutjahn Sandalwood Oils, which supplies global fashion brands including Estee Lauder, has become the first Australian organisation to win the United Nations’ Equator Prize.

Investors seek location, amenity

Apartment investors are increasingly buying for the same reasons as owner-occupiers, with larger dwellings and proximity to public transport, shops and other amenities the major determining factors.

Crypto gains currency in Freo

Several businesses in the Fremantle area are enabling payment with bitcoin and alternative online currencies.

Hilton to operate Albany waterfront hotel

International hotel group Hilton has chosen Albany to open its first Hilton Garden Inn in Australia, with construction starting on a five-storey, 108-room waterfront hotel this week.

Moody’s upgrades WA’s credit rating

Ratings agency Moody's has announced that it will lift Western Australia’s credit rating from Aa2 to Aa1, with the McGowan government's strong control over spending highlighted as a key reason.

Peel raises $7m

Base metals junior Peel Mining has raised $7 million through an oversubscribed share placement, with the funds to go towards its projects in the Cobar Basin in NSW.

Highway Constructions wins $28m contract

Bassendean-based Highway Constructions has secured a $27.6 million contract from Main Roads Western Australia as part of an upgrade of Onslow Road in the Pilbara.

Salt Lake raises $20m

Salt Lake Potash has raised $20.25 million via a share placement, with the funds set to advance the development of its Lake Way project.

Dorado oil find 'bigger than expected'

Santos and Carnarvon Petroleum say they have confirmed the discovery of a major oil and gas resource off the coast of Western Australia.

ASX opens higher as almost all sectors up

The Australian share market has opened higher after a positive lead from Wall Street.

Morning Headlines

Resources boom will be powered by India: RBA

Oil slumps on US crude stock build

Oil prices fell overnight, with West Texas Intermediate crude futures (WTI) dropping to its lowest since January after US crude inventories unexpectedly surged, adding to concerns about slowing global growth.

Gold hovers at close to 15-week high

Gold prices pared earlier gains overnight, having jumped to their highest in 15 weeks as nagging fears about global trade and expectations of a US interest rate cut encouraged investors to flock toward bullion.

Roberts to leave MIN board

Tim Roberts, whose estimated net worth varied wildly in three recent rich lists, has stepped away from the public limelight by resigning from the board of ASX-listed Mineral Resources.

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