Government

The Australian dollar has fallen almost half a US cent against its US counterpart as equity markets continue to bounce back from a sell-off bloodbath that wiped $US4 trillion off the value of shares.

Oil prices have fallen to a one-month low after US data showed a build in inventories and record high crude production, raising worries that the market could be in for more selling, exposing speculators that have bet big on upward momentum in crude.

Gold has slipped as the US dollar has strengthened and global shares have clawed their way off two-month lows, though bullion was underpinned by the view that the dollar's bear run remains in place despite rate hike expectations.

The state government has announced the formation of a development committee to guide three key projects in Bunbury, with Bunbury Chamber of Commerce and Industries president David Kerr and The Apprentice and Traineeship Company chief executive Stan Liaros among those selected for the committee.

The Australian dollar has crept a little higher against its US counterpart the day after global equity markets plunged amid widespread sell-offs that wiped out $US4 trillion in value - $66 billion of it off Australian shares.

Oil has fallen for a third day as the US dollar rose to its highest in more than a week in the wake of a sharp sell-off on Wall Street and other stock markets, a global rout that wiped out $US4 trillion ($A5.1 trillion) in value.

Gold prices have fallen one per cent to a 2-1/2-week low, as investors focused on expectations for higher US interest rates, even as US stock markets swung wildly in both directions a day after the Dow and SP 500 indexes tumbled.

Western Australian small businesses are unhappy with the current state of the economy but are the most optimistic in the nation about its future, a survey has found.

A new state government advisory body to improve analysis and transparency of major projects, Infrastructure WA, will begin work next year, according to Premier Mark McGowan, who launched a draft plan for its establishment today.

US stocks' losses have accelerated in afternoon trading, pushing the S&P 500 down more than 5 per cent from its January 26 record high and the Dow below 25,000 for the first time since January 4.

The Australian dollar has continued to gently slide against a stronger US counterpart despite the latter pausing from its US jobs data and wages growth inspired lift.

Gold prices have steadied as a slide in stock markets helped the precious metal claw back some lost ground after logging its biggest one-day loss in two months in the previous session.

Oil prices have traded lower as rising US output, a weaker physical market and recent US dollar strength add to the pressure from a widespread decline across equities and commodities markets.

Four contractors have been invited to submit proposals for the design and build of the $50 million Wanneroo Road and Joondalup Drive interchange, which is set to begin construction mid-year.

Mitsui set to snare AWE as MinRes yields

The Australian dollar is back under 80 US cents as the downward movement in the US dollar seems to have stopped and weaker metals prices offered no help.

Gold prices have declined as the US dollar ticked up against the euro after US jobs data showed a robust rise in jobs and wages and 10-year US Treasury yields peaked.

Oil prices have fallen as the dollar has surged following strong US jobs numbers, though compliance with output cuts by OPEC and rising global demand kept much of the early year oil rally in place.

The state government has opened up the Pilbara electricity market to greater competition after privately-owned Alinta Energy applied last year to gain access to state-owned Horizon Power’s network.

US. stocks have pulled back from earlier gains as bond yields rose and technology stocks retreated ahead of a host of high-profile earnings.

The Australian dollar is a bit weaker after a sluggish night on commodities markets, and a mixed night for overseas stock markets.

The Australian dollar is lower, extending the losses that started after the release of weaker than expected inflation figures on Wednesday.

Oil prices have rebounded from earlier losses to end higher, after the US Energy Department said oil inventories rose for the first time in nearly three months, but was offset by strong demand for gasoline and distillate products and news that OPEC countries maintained heavy supply cuts in January.

Australia's inflation rate has risen slightly in the December quarter, lifting the annual headline rate closer to the central bank's target range of between 2 per cent and 3 per cent.

The Australian dollar has managed to eke out some small gains despite broad based weakness across US markets and in commodity prices.

Oil prices have fallen for a second day, driven by ongoing evidence of rising US crude output, while wary investors sold off stocks, bonds and commodities.

Perth has been selected to host 11 matches during the International Cricket Council World T20 tournament in 2020, in line with the country’s other major cities.

The Australian dollar is slightly higher despite falls on Wall Street overnight.

Oil prices have fallen, pressured by a strengthening US dollar and rising US crude output, but prices remained on track for the biggest January increase in five years.

The end of the mining construction boom continues to cause economic pain for Western Australia but strong employment growth paints a very positive future, according to Treasurer Ben Wyatt.

The business community and unions may both support reducing the gender pay gap, but their divergent approaches to a solution present a stark choice for policy makers, if submissions to a review of industrial relations laws are any guide.

The Australian dollar is unchanged against the US dollar after Wall Street got a boost from healthcare stocks and a solid economic growth data.