BHP Billiton has today announced plans to cut 2100 jobs in Western Australia as it suspends operations at its Ravensthorpe nickel mine indefinitely and scales back production at its Mt Keith nickel mine on the back of a falling metal price.
Wall Street plunged yesterday adding to losses from the markets' worst week since November 2008, as fears about the banking sector offset optimism surrounding the inauguration of US President Barack Obama.
Nickel miner Western Areas says it has probably recorded the lowest cash costs in Australia as production at its Flying Fox mine in Western Australia exceeded its yearly target.
The US sharemarkets were closed overnight for the Martin Luther King Jr public holiday, and no major local data was due for release on today, although the Australian dollar was expected to stay under $US0.6775.
West Perth-based oil and gas explorer GB Energy says it has the option to spend over $2 million to acquire a major interest in Protean Power which was developed a concept for a wave energy converter.
Shares in Balcatta-based Target Energy have fallen as the company withdraws from two gas joint ventures in the United States which is expected to save them over $2.5 million.
In what has been continuously described as a difficult market to raise funds, gold miner Avoca Resources has exceeded its $25 million capital raising target with stock issued at a slight discount to its share price.
Debt-laden Centro Properties Group completed a long-term refinancing agreement with lenders today, delivering its lenders 90 per cent of the company's equity and reducing pressure for asset sales.
Share bloodbath on fears of recession; Job losses send shares tumbling; Rio chairman takes fall for BHP bid debacle; CanWest may be forced to can Ten; Gillard defiant on jobs
OM Holdings says it has received overwhelming support from its shareholders for the introduction of Takeover Protection Provisions, which have been criticised by major shareholder Consolidated Minerals.
The $4 billion price tag for the Oakajee port and rail project is expected to come down as the global economic downturn lowers the price of iron ore and mining project deferrals free up contractors.
State government agencies have been ordered to slash advertising spend by 15 per cent and reduce the use of consultants by $5 million each year as the government undertakes a review into advertising and communications.
The effect of the global financial crisis is expected to become evident in coming months as Western Australia's December unemployment rate falls to a seasonally adjusted 2.8 per cent.
Wesfarmers set for storm; $60bn mining projects under threat; Argyle forced to axe 300 jobs; Telstra raises stakes with job cut plans; Write-downs weigh heavily on business
DEBT is a theme across all the top deals of 2008, something that hasn't featured previously because such matters were considered relatively boring in a market awash with cheap credit.
RECRUITERS in Western Australia say the fall in job advertisements is not an accurate predictor of workplace trends, and businesses should focus on building their employment brand.
A TALE of two halves is the most apt description of capital raisings last year, with the fall-off in the latter part of the year meaning investors are likely to be more selective in 2009.
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.
A YEAR ago it would have been unthinkable for a major Australian bank to buy BankWest, the only significant regional player in the powerhouse growth state of Western Australia.
REPRESENTATIVES from equipment manufacturer Sensear are in California this week aiming to enhance the company's global presence and increase its market share in the US's $3 billion safety and protective devices market.
UK company Cape plc's acquisition spree in Australia in 2007 has continued to have extraordinary fallout, with three new competitors emerging in the scaffolding and formwork sector in Western Australia.
A DISASTER or a strong recovery - that's Martin Place Securities managing director Barry Dawes's each-way bet for what's likely to pan out in equity markets in 2009.
AS the state government conducts an audit on capital works projects worth more than $20 million in an effort to contain spending, a number of affected design firms have already started to count the financial costs, including redundancies.
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
TIGHT credit conditions significantly hampered commercial property sales activity in the Perth CBD last year, with the number of properties sold almost half that of 2007.
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.
SOME of the state's biggest users of energy have begun publicly reporting their energy consumption, many for the first time, under the federal government's Energy Efficiency Opportunities Act.
