Government

A review of Barnett government programs and projects has identified a raft of shortcomings in governance, project management and financial management, and listed Royalties for Regions as the single biggest problem.

Deputy Prime Minister and National Party leader Barnaby Joyce’s position has been further weakened today after the Western Australian branch of his party called for his resignation.

Gold prices are down slightly as the US dollar claws back some recent losses and stocks rose, but worries about US inflation keep buyers in the metal.

The Australian dollar is slightly lower against its US counterpart which has rebounded off three-year lows.

Oil prices have hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising US production tempered gains.

The Australian dollar has fallen more than half a US cent against its US counterpart which continues to experience weakness despite bouncing off a three-year low.

Oil prices are higher as a rebound in the global equities market and a weak US dollar supported crude's recovery from last week's slide.

Gold prices have dipped, but still hovered near a three-week high, as the US dollar index bounced from a three-year low and investors worried that US inflation could heat up.

The state government’s chief information officer Giles Nunis is moving to the private sector after a recent review recommended sweeping changes to his office, which was established under the Barnett government.

Opportunities will grow in the environmental protection and energy efficiency space for Australian exporters as China looks to go greener, according to Chinese deputy consul general Anlin Sun.

Cutting red tape for wineries, breweries and distilleries, and changes to procurement laws to favour local businesses were two measures to support economic recovery highlighted by Premier Mark McGowan at a Business News Success & Leadership breakfast this morning.

The head of the Reserve Bank has warned any corporate tax cut in Australia cannot come at the expense of higher budget deficits, adding that recent cuts to business taxes in the US are problematic.

Oil prices have closed mixed with Brent paring losses and US crude turning positive as a weak US dollar and Saudi Arabia's comments that OPEC and other producers were committed to their pact on cutting supplies outweighed record US production and rising inventories.

Gold was on track for its fourth straight session of gains on Thursday as the US dollar slid to its lowest in two weeks on concerns about the impact of high U.S debt levels and tax cuts.

The Australian dollar is a tad lower against its US counterpart which has continued to weaken.

Western Australian senator Mathias Cormann will be Acting Prime Minister next week, with Malcolm Turnbull and Julie Bishop overseas and the embattled Barnaby Joyce to take leave.

Western Australia's electoral system has become stuck in the past amid outdated legislation and a lack of funding, a parliamentary inquiry into the 2017 state election has found.

Western Australia’s unemployment rate has steadied at 5.7 per cent in January, seasonally adjusted, despite a slight dip in the number of people employed.

The Australian dollar has jumped above 79 US cents with the US currency remaining weak after US inflation figures came in higher than expected.

Oil prices have rebounded after US crude stocks rose less than expected and Saudi Energy Minister Khalid al-Falih said major oil producers would prefer tighter markets than to end supply cuts too early.

Alcoa of Australia manager and Kwinana Industries Council president David Honey has been preselected as the Liberal candidate for a by-election in the seat of Cottesloe.

The Australian dollar has slipped against a weakened US counterpart, but still remains above 78 US cents.

Oil prices are flat, bouncing back from an early slide as the US dollar fell to a one-week low, which encouraged buying of US dollar-denominated crude at session lows.

Gold prices have risen as the US dollar has slipped and markets anticipate the release of impending US inflation data that may offer some clues on the pace of future Federal Reserve interest rate increases.

Gold prices have risen as the US dollar has eased, but gains are expected to be muted ahead of inflation data from the United States later this week that could mean US interest rates rise faster than expected.

An east coast energy retailer backed by a French multinational will become the fifth player selling to consumers in the local gas market, after receiving approval by the Economic Regulation Authority today.

An international trade body has warned the recent package of tax cuts in the US will lead to a reduction in that country’s foreign investment stock overseas, with Australia potentially vulnerable.

Congestion on the national broadband network has eased as more customers turn to higher speed plans after rollout company NBN Co slashed its top speed packages last year.

Gold has slipped, under pressure from a firmer US dollar and worries about rising global interest rates, but still found some support as a safe-haven asset as world stock markets fell.

Oil prices have slid more than three per cent on Friday as US futures fell below $US60 a barrel for the first time since December on renewed concerns about rising crude supplies.

The Australian dollar has regained some lost ground against the US dollar which itself has preserved its recent gains.

A global upswing driven by the manufacturing and industrial sectors will provide a tailwind for Australia’s economy, according to the Reserve Bank of Australia’s quarterly statement on monetary policy, but underlying inflation is expected to remain low until at least mid 2020.