The Australian dollar has edged lower despite a rally in global oil prices.At 0700 AEST on Tuesday, the local unit was trading at 72.89 US cents, down from 72.95 cents on Monday.
The High Court has dealt a major blow to the state government after ruling invalid legislation that would have propelled it to the top of the creditors’ list for the $1.75 billion carve-up of the failed Bell Group.
Gold prices have risen, buoyed by weak US equity markets and chart-based strength, as it shrugged off a higher US dollar and strong US economic data suggesting a brightening outlook for the economy
The state government will cover an outstanding $67 million owed by mining companies through the Port Enhancement Project at Geraldton Port, with the charge to be removed from July.
The state government will invest $10 million into the redevelopment of Lathlain Park in the Town of Victoria Park, which will also be the new training home for the West Coast Eagles.
Premier Colin Barnett has denied his leadership is in jeopardy following recent poor polling and insists if anyone was dissatisfied with his performance they would tell him.
Treasurer Mike Nahan appears to have lost any hope his calls to change the GST carve-up will be heeded, declaring "we're on our own" after handing down the state budget yesterday.
Western Australia's peak business group has welcomed the state government's budget, but other business groups believed more could have been done for their respective sectors.
Gold has fallen as a strengthening US dollar prompted some buyers to cash in gains after its biggest daily rise this month, briefly paring losses after downbeat US jobs data.
The state government expects lower contracting and construction rates will deliver savings of more than $1 billion on its asset investment program over the next four years, but has not committed to any major new infrastructure projects.
Treasurer Mike Nahan hopes to raise $16 billion from an expanded asset sales program, with Western Power and Horizon Power’s Pilbara transmission lines now targeted but two other assets unexpectedly removed from the government's sell-off list.
The Barnett government expects to deliver Western Australia’s largest budget deficit of $3.9 billion next financial year as it continues to grapple with shrinking revenue and higher spending.
Embattled Perth Lord Mayor Lisa Scaffidi has lost the support of her deputy, with James Limnios calling for her to step aside following the release of another report into her conduct.
Newly appointed Labor candidate for Fremantle, Josh Wilson, says he sympathises with the man he has replaced in what he has described as extraordinary circumstances.
US stocks dropped and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector.
Treasurer Mike Nahan has poured cold water on a report that argued Western Power was a major cash spinner for the government, saying the corporation paid a net dividend of less than $30 million to the state last year.
The gap between the state’s minimum wage and the national floor should be reduced to prevent putting low-paid workers at risk of job losses, according to the Chamber of Commerce and Industry of WA’s submission to the upcoming state wage case.
Gold has closed slightly higher after earlier falling to a near two-week low, after its steepest loss since March in the prior session, as a firm US dollar and higher equities curb appetite for the precious metal.
