Gold has risen to its highest level in over six months as weak factory activity data in Europe and Asia compounded concerns of a global economic slowdown and weighed on stock markets, increasing the precious metal's appeal.
Oil prices are up about two per cent amid choppy trading supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.
The state’s financial outlook has improved since the May budget by about $3 billion across the next four years, with iron ore royalties and federal grants doing the heavy lifting, but the domestic economy will again shrink this year.
New data out today reveals population growth in Western Australia remains subdued, with only a slight rise recorded in the year to June, while nationally the population increased 1.6 per cent.
Oil prices rose overnight, recovering somewhat from a sharp selloff during the previous session, after US data showed strong demand for refined products.
Gold prices fell overnight, giving up earlier gains, after the US Federal Reserve raised interest rates and noted that "some" further gradual rate hikes would be needed next year.
A Chinese banking crisis that leads to a significant economic downturn might considerably delay Fremantle harbour reaching its container capacity, while other scenarios might accelerate traffic, according to previously unpublished economic modelling by Deloitte.
Former Synergy executive Stephanie Unwin is set to lead regional energy retailer Horizon Power next year, while Screenwest, SNC-Lavalin, Worksafe WA and Destination Perth have also announced significant appointments.
Reform to cut the government’s dependence on income and company taxes remains a high priority for Australia, according to the Organization for Economic Cooperation and Development, while contingency plans are urgently needed in case of a sustained fall in house prices.
Gold firmed near a one-week high as investors cast doubts over the pace of interest rate hikes next year by the US Federal Reserve which kicked off its two-day meeting earlier in the day.
The benchmark S&P 500 stock index has ended little changed in a choppy trading session on Tuesday as the possibility of a partial US government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve.
Oil prices tumbled more than five per cent overnight, falling for the third straight session as the market grappled with reports that US supply would continue to surge even if demand weakens as global growth deteriorates, which many expect.
Domestic gas has started flowing from Woodside Petroleum’s Pluto plant near Karratha today, around six years after LNG exports from the facility got under way.
The state government has announced a delay of up to 12 months at the Forrestfield-Airport Link due to tunneling issues, but says the rail project’s $1.9 billion budget will not be impacted.
Wall Street’s major indices have slid more than two per cent, with the benchmark S&P 500 closing at its lowest level in 14 months, on concerns of slowing economic growth before a decision from the Federal Reserve this week on the course of interest rate hikes.
Gold has risen as a slide in the US dollar makes bullion more attractive for holders of other currencies, while some investors have taken cover as stocks globally slipped into the red ahead of the US Federal Reserve's two-day policy meeting.
Oil prices fell about one per cent overnight on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand.
SPECIAL REPORT: Mathias Cormann has been deeply entwined in the federal government’s fortunes this year, while a win on GST distribution has boosted standing for Mark McGowan and Ben Wyatt.
Wall Street's three major indexes tumbled and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown.
Oil prices have dropped about two per cent, weighed down by falling US stock markets, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.
Gold has fallen to its lowest in over a week and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust US economic data ahead of a US Federal Reserve meeting next week.
Older coal fired power stations such as Synergy’s Muja C&D could begin closing in 2023, driven by changing market dynamics, while harsher carbon policies would accelerate shutdowns, according to a recent report by the Australian Energy Market Operator.
