The Australian share market slumped to a five-year low as bank and resource stocks were weighed down by continuing concern about the health of the global economy following the release of economic figures from Asia.
Western Australian companies ranging from conglomerate Wesfarmers to juniors Ironbark Gold and AnaeCo have returned to the markets with a vengeance in a bid to tap fresh capital.
As companies take stock of the global financial crisis, the securities watchdog has reminded listed entities of their obligations to announce any material difference to financial results.
Gold miner Resolute Mining has raised a further $6 million through the placement of shares not taken up in the previous rights issue, as total gold production fell 10 per cent in the December quarter.
Conglomerate Wesfarmers says it expects a lower dividend for the third consecutive year as it launches a heavily discounted rights issue to raise nearly $3 billion to help pay down debt from its $20 billion Coles acquisition.
Perth-based leisure technology firm V3 has been awarded a state government tender to provide online booking technology for Tourism Western Australia's website.
Cooper Energy says it is well placed to achieve record production for the 2009 financial year as it reports a 17 per cent lift in oil production for the December quarter.
Paladin Energy has exceeded production capacity at its Langer Heinrich uranium mine for a second consecutive quarter as it extends its takeover bid for Fusion Resources.
Great Southern says it will pursue other interested parties for the sale of a Queensland forestry estate after a private international timber fund pulled out of a $23 million deal.
Newcrest Mining, Australia's biggest gold company, has delivered a drop in gold production during the second quarter and cut full year production forecasts for its Telfer mine in Western Australia.
Wesfarmers has launched an equity raising to raise a minimum of $2.8 billion, comprising a three for seven accelerated pro-rata non-renounceable offer, at $13.50 per share.
AGRIBUSINESS Great Southern Ltd is pursuing alternative options, including the sale of assets, as received proxy votes indicate investors may not be willing to exchange their interest in plantation
IN a bid to bring extra hotel rooms onto the market, a new study has highlighted investment opportunities in Perth's CBD by compiling a short list of commercial buildings suitable for conversion.
WESTERN Australia has suffered the biggest fall in job advertisements in December as ads across the country slump to recession-like levels, a key employment measure has found.
AUTOMOTIVE Technology Group is pushing ahead with an aggressive global growth strategy despite the economic downturn and a struggling automotive industry.
HISTORY shows us that the disillusioned, the disenfranchised, the oppressed, the impoverished, the downtrodden will eventually turn on the society that spawned and then abandoned them.
WESTERN Australia has suffered the biggest fall in job advertisements in December as ads across the country slump to recession-like levels, a key employment measure has found.
Western Australia's leading consulting engineers have expressed concern over the state government's capital works program, after a number of advanced projects were put on hold.
Directors Richard Monti and Geoff Brayshaw have been given a combined $30,450 worth of Poseidon Nickel shares in lieu of directors fees, as approved by shareholders at the annual general meeting.
WITH the takeover offer set to open shortly for Perth-based Pure Energy, managing director Steven Beardsall may be in for a nice cash bonus as he boosts his stake in the company.
WESFAMERS expects first half 2008-09 net profit to be between $850 million to $880 million, after about $150 million in pre tax provisions and write-downs in the values of some investments.
THE mortgage broking industry is preparing for a major transformation as the credit crisis and slowdown in the real estate market continues to dampen demand.
Kenneth Ambrecht bought 3,070 shares in Fortescue Metals Group at $2.281 per share at share market price, bringing the total value of his shares to $14,362369.
PHILANTHROPISTS fear proposed legislative changes to guidelines governing prescribed private funds could close down the majority of the charitable foundations within the next 15 years.
Kenneth Ambrecht bought 3,070 shares in Fortescue Metals Group at $2.281 per share at share market price, bringing the total value of his shares to $14,362369.
THE volume of mergers and acquisitions in the stockbroking sector is expected to pick up in 2009 as firms prepare for a new watchdog rule that will come into force later this year.
Banaszak Legal has been acquired by Leaker Partners after Damira Banaszak accepted a position of senior legal counsel with the National Australia Bank.
Malaga-based Automotive Technology Group has expanded its presence in China with the signing of another deal with one of the country's largest car manufacturers.
