The federal government will announce a stimulus package of up to $20 billion tomorrow to fight the impact of the Covid-19 virus, it has been reported this afternoon, while $2.4 billion of new health funding was announced today.
Investors have switched to sell mode again as they wait for details on stimulus, sending Australia's volatile share market lower despite a rally on Wall Street overnight.
Oil prices jumped more than eight per cent overnight, bouncing from the biggest rout in nearly 30 years as the possibility of economic stimulus encouraged buying and US producers slashed spending in a move that could cut output.
Gold slid over 1.5 per cent on Tuesday, backing off the $US1,700 ceiling hit in the previous session, as expectations of global policy measures to alleviate the economic impact from the coronavirus eased some investors' concerns and lifted share markets.
Perth-based human services firm APM Group has attracted a new majority shareholder after three years of strong growth that has seen it nearly triple staff numbers to 6,500 across 10 countries.
Property analyst Mark Goldenberg has been permanently banned from engaging in any credit activities, after he was found operating an illegal early access to superannuation scheme in Perth.
Finbar Group is responding to increased demand for larger apartments with the launch of the second stage of its Applecross development, a $143 million tower to complement its nearly-completed Sabina building on Canning Highway.
Prime Minister Scott Morrison told business leaders today that its stimulus package to address the impact of coronavirus would be proportionate, targeted, scalable and temporary.
The Perth Mint's gold, silver and platinum holdings stored on behalf of clients have reached $5 billion in value, with the mint citing a flight to safety by investors as a result of the coronavirus outbreak.
Mineral sands miner Tronox has decided to proceed with a new mine in NSW, leaving its two prospective West Australian mines near Dongara and Cervantes in the development queue.
Global company Manheim Auctions has fallen victim to a $30 million ransom demand from cyber criminals who have locked its computer system in Australia.
A subsidiary of Perth-based Southern Cross Electrical Engineering has secured a $40 million contract with CIMIC Group to complete works on a train station in Sydney.
South32 will continue to explore AusQuest's projects in Australia and South America after the companies extended their strategic alliance agreement by two years.
Qantas has slashed the capacity of its international flights by almost a quarter for the next six months due to the coronavirus impact. The airline also announced cost saving measures, including cuts in salaries for its top executives.
Ambitious plans to attract more visitors from outside Western Australia for next year's Perth Festival and beyond are top-of-mind for executive director Nathan Bennett.
Crude prices suffered their biggest daily rout since the 1991 Gulf War overnight as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.
Gold retreated from the $US1,700 level touched briefly earlier on Monday, as investors sold the bullion to cover margin calls amid plummeting equity and energy markets, overshadowing the metal's safe-haven demand.
A Perth Glory soccer game planned for next Wednesday has been postponed, while the state government has announced it would open three clinics at metropolitan hospitals tomorrow to test for coronavirus, as the epidemic escalates with WA's sixth case confirmed today.
The Australian stock market has suffered its worst single day loss in nearly a dozen years, as a brewing price war over oil added to the global tumult.
Zenith Energy has entered a scheme implementation deed with Pacific Equity Partners, under which the company will be bought for $1.01 per Zenith share.
In celebration of International Women's Day, inductees of the WA Women's Hall of Fame and the winners of the Chamber of Minerals and Energy of WA Women in Resources Awards were announced over the weekend.
The state government plans to halt three major contracts at Fiona Stanley Hospital held by Serco Australia, resulting in 650 jobs moving back to the public sector at a cost of $93 million over 10 years.This adds to similar moves in the water and corrections portfolios.
Five Western Australian tourism businesses have received gold medals at the recent 2019 Australian Tourism Awards ceremony, with recognition for best accommodation and food tourism excellence among the winning categories.
Lithium producer Altura Mining has received a three-year extension on its existing $244 million loan facility, but at a price of adding 5 per cent to the total loan amount and issuing additional shares to the lenders.
