Government

Oil prices strengthened slightly ahead of the settlement Wednesday as the Federal Reserve held interest rates steady and expressed confidence that a recent rise in inflation would be sustained.

Gold prices extended their gains on Wednesday after the US Federal Reserve's dovish remarks weakened the US dollar against a basket of currencies, yet bullion remained vulnerable to a possible rising greenback and weak investment demand.

Crackdown on rorters taking ATO for ride

State-owned Western Power will need to trim operating costs by about $100 million more than planned over the next five years under the Economic Regulation Authority’s latest draft access arrangements released last night.

The state government has announced an additional $24 million in funding for grain industry research and development, taking the total figure to $45 million over the next four years.

Labor MP Tim Hammond has announced his resignation from federal parliament due to the job's toll on his family, with Labor's state secretary Patrick Gorman tipped to be the party's candidate at the upcoming by-election in the seat of Perth.

The Australian dollar has fallen to its lowest level in almost a year after metals prices lost ground overnight.

Oil prices slid more than one per cent on Tuesday as the US dollar remained near a four-month high, but worries that US President Donald Trump will pull out of the Iran nuclear deal underpinned the market.

Gold slid to a four-month low on Tuesday as the dollar strengthened ahead of a US Federal Reserve policy meeting that is being watched for clues on the future pace of interest rate hikes.

US extends tariff exemptions

The Reserve Bank has left the cash rate unchanged at 1.5 per cent, with RBA governor Philip Lowe continuing to worry about weak household spending and sluggish wages growth.

Oil prices rose on Monday, bouncing off early losses after Israeli Prime Minister Benjamin Netanyahu said Israel had proof that "Iran lied" about its nuclear capabilities, and that he was sure US President Donald Trump would do "the right thing" in reviewing the country's nuclear deal with western powers.

Wall Street has fallen as healthcare stocks slid and investors worried about rising costs for companies as oil prices rose, although the major indexes eked out a gain in April to snap a two-month losing streak.

Gold prices fell to the lowest in nearly six weeks on Monday as the US dollar strengthened and easing tensions on the Korean peninsula helped boost appetite for higher risk assets such as stocks.

Wesfarmers faces exec shake-up

Oil prices edged lower on Friday, although Brent still gained for a third straight week amid supply concerns should the United States reimpose sanctions on Iran.

Gold edged higher on Friday after the US dollar and US Treasury yields backed off highs, but the prospect of a Korean denuclearisation deal eroded bullion's safe-haven appeal.

The Australian dollar is slightly higher after US stocks had a flat finish to trade on Friday, and European share markets gained ground.

The Australian dollar is slightly higher after US stocks had a flat finish to trade on Friday, and European share markets gained ground.

Budget can afford $8b in tax cuts

An ambitious water supply project in Western Australia's South West is set to proceed after gaining federal government backing, with Collie Water chairman Peter Fogarty saying he was well advanced in securing private investors to complete funding.

Two giant waste-to-energy projects planned for Kwinana and Rockingham could gain extra financial backing after the federal government unveiled a raft of policy initiatives to address problems flowing from China’s new restrictions on accepting foreign waste.

Prime Minister Malcolm Turnbull has today announced $3.2 billion of federal government funding for Western Australian infrastructure projects ahead of next month’s budget, however, there is still uncertainty around the timing of a number of those projects.

The Australian dollar is lower after the US dollar rallied following the European Central Bank meeting and the release of better than expected US employment data.

Oil prices gained on Thursday as the risk of renewed US sanctions on Iran, plunging Venezuelan output, and robust global demand shook off the effects of a strong US dollar.

Gold prices hovered near five-week lows on Thursday as a stronger US dollar and lofty US bond yields dampened interest in bullion.

PM’s big WA spend

The state government has appointed Stephen Edwell chair of Horizon Power, and added Kylie Chamberlain to the utility’s board.

The state government has appointed Civmec defence general manager Mike Deeks as its new London-based agent general for Western Australia.

The Australian dollar has fallen to a new four month low as the US dollar rallies against most major currencies after US Treasury bonds broke the three per cent mark.

Oil prices rose on Wednesday despite data showing rising US inventories, holding within sight of three-year highs reached the previous day on geopolitical tensions including the prospect of fresh sanctions on Iran.

Gold prices slumped to a five-week low on Wednesday as the US dollar jumped and US Treasury yields continued to rise on signs of US economic strength and an easing in the US-China trade conflict.