Government

A government body has slashed its 2017 iron ore price forecast by nearly 20 per cent on expectations of slowing demand growth in an oversupplied market, underlining the threat to the federal government's finances.

Malcolm Turnbull will be returned as prime minister, according to renowned election analyst Antony Green, as postal vote flows strongly favour the coalition parties and three lower house independents have offered him supply and confidence.

There’s a one in three chance the Commonwealth government’s credit rating could be downgraded within the next two years, according to Standard & Poor’s, a move which would be expensive for taxpayers and may have flow on effects for other borrowers.

Premier Colin Barnett has softened his position on the proposed privatisation of Western Power, saying it could be used by Labor as a scare campaign in the state election next year.

Standard and Poor's has lowered Australia’s sovereign debt ratings outlook from AAA stable to negative, citing the ambiguous outcome of the recent federal election potentially delaying fiscal consolidation, although it affirmed the strength of the economy broadly.

The top Senate candidate in Western Australia of Pauline Hanson’s One Nation party could be ineligible to sit in parliament because he has been convicted of a crime and is still to face trial on a second charge.

The state government has announced new directors for the Gascoyne, Peel and Pilbara development commissions.

The state government has announced $23.1 million in funding to tackle waterfront erosion in Geraldton.

Prime Minister Malcolm Turnbull said he accepts full responsibility for the coalition’s poor showing in Saturday’s election, but is increasingly confident of retaining majority government as nearly 3 million absentee and postal votes are still to be counted.

The Reserve Bank of Australia has held the official interest rate at a record low, but left the door wide open to a rate cut next month and perhaps even more.

Retail sales were up 0.1 per cent in trend terms in Western Australia in May, to $2.82 billion, about 1 per cent higher than the same month last year.

Slightly more than 1,000 Western Australian companies had external administrators appointed in the 12 months to May this year, an increase of 29 per cent on the previous period, according to the latest numbers from the Australian Bureau of Statistics.

End-of-financial-year bargain hunters provided a boost to new car sales in Western Australia last month, but it wasn’t enough to beat last year’s June 30 clearance sales.

Discretionary spending usually takes a hit in a downturn, but some WA retailers and service providers are banking on a bright future.

Australia's prized AAA credit rating could be at risk if post-election political paralysis damages the federal government's capacity to manage budget deficits, the key global ratings agencies have warned.

Recriminations have already started within the Liberal Party over its poor performance in Saturday’s federal election, with the finger being pointed at Prime Minister Malcolm Turnbull’s campaign strategy for having shaken the party’s grip on power.

The biggest swing towards Labor in the nation in Saturday's election is expected to be in Western Australia.

Western Australian companies have outperformed the broader stock market over the six months to June 30, judging by the performance of Business News' BN30 index.

Amid a few bright spots on the earnings front, the WA economy’s rebound is being thwarted by still-low global prices for iron ore.

In a report released today, Auditor General Colin Murphy has expressed concern that Main Roads still focuses on critical maintenance instead of preventive work, despite a recommendation to change tack in a review seven years ago.

Mirvac Group and Singapore’s Keppel REIT’s $103 million new office tower at Cathedral Square has officially opened, with the Supreme Court to take up residence next month.

The state government has extended its discounted charges at the Utah Point bulk handling facility by another year, to help junior miners continue exporting iron ore, as debate around the sale of the port continues.

State Development Minister Bill Marmion has told protestors outside parliament that the environmental watchdog would review the government’s plan to extend the buffer zone around the Kwinana industrial area.

The Australian dollar gold price hit an all-time record of $1,826 an ounce today after Britain elected to leave the European Union, with shares in local gold miners rallying strongly even though the broader stock market tumbled more than 3 per cent.

London's FTSE100 index crashed more than 7 per cent in the first few minutes after markets opened around 4pm AEST, as voters in the UK elected to leave the European Union by a 52-48 margin, prompting Prime Minister David Cameron to flag his resignation.

A decision to dump Perth's planned light rail network has dented trust in the government's transport promises ahead of next year's state election, Treasurer Mike Nahan concedes.

Chinese steel production was up 1.8 per cent in the month of May compared with the same period last year, although global output was down 0.1 per cent.

New businesses are gearing up to supply drivers in the state’s ridesharing industry, with legalisation of services such as Uber due to start on July 1.

Perth dwelling prices fell 1.7 per cent in the three months to March, while the average dwelling price across Australia's capital cities also fell for the first time in over three years.

As WA’s last mega mining project swings into operations mode, there’s more pain ahead for employment and investment numbers.

A re-elected Coalition government will adopt the lion’s share of recommendations from Dyson Heydon’s trade union royal commission, Employment Minister Michaelia Cash told the National Press Club today.

A recent analysis of economic performance across nearly seven decades of Australian prime ministers by the Australia Institute found Malcolm Turnbull to have the poorest track record. But is that fair?