Government

Big shipbuilding win for local companies

The Dow Jones industrial average has climbed to a nine-month high in a market buoyed by Hasbro and Disney, as investors braced for a flurry of quarterly earnings reports through the week.

The Australian dollar has surged more than one US cent on the back of an oil price recovery.

Oil prices edged lower on Monday after producers failed to agree on a plan to curb global supply at a meeting in Qatar, while world stock markets rose and the Dow Jones industrial average closed above 18,000 for the first time since July.

Gold has steadied as the US dollar fell against a basket of major currencies, world stock markets edged higher, and oil prices pared earlier losses that had been triggered by the failure by oil producers to agree an output freeze.

The state's shipbuilding industry has had a big win, with the federal government selecting Austal to build 21 Pacific Patrol Boats at its yard in Henderson in a contract worth at least $500 million.

More Perth auctions as house prices fall

Saudi Arabia has demanded Iran join a global deal on freezing oil output, jeopardising an agreement between OPEC and non-OPEC producers that was supposed to help ease a glut and prop up the price of crude.

The Australian dollar has plunged sharply as crude oil prices tumble

Gold has risen after three days of declines as the US dollar and major stock markets weakened, but bullion was headed for its first weekly drop in three.

Former police minister Rob Johnson has fired a parting shot at Premier Colin Barnett as he resigned as a member of the Liberal Party, saying the state's debt burden was out of control, among other issues.

Agriculture Minister Dean Nalder has made his first major move since being given the role, announcing the deregulation of the state's potato industry and a handsome $14 million compensation package for growers.

Wall Street has closed little changed after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back.

LNG giants seek service link

The Australian dollar has surged to a nine-month high after the chances of a May rate cut slimmed further.

Fundraising campaigns run by footwear manufacturer Steel Blue and the Fremantle Dockers on behalf of local charities have both hit the $1 million milestone this month.

A local academic has warned that failure to privatise the operation of Fremantle Ports could have a negative effect on the competitiveness of the Western Australia's exporting industries.

Ratings agency Moody's has kept the federal government's credit outlook stable at AAA, despite raising concerns thar governments of both stripes had been unable to reduce spending or achieve fiscal consolidation.

The unemployment rate in Western Australia has dropped a whopping 0.5 percentage points in March, to 5.5 per cent in seasonally adjusted terms.

Woodside pushes $3bn Enfield project

The price of gold has fallen from the previous day's three-week peak as the US dollar surged to a two-week high against the euro, and major stock markets rose after surprisingly upbeat trade data allayed concerns over China's economy.

Wall Street have rallied for a second straight day, led by gains in beaten-down financial shares after JPMorgan's quarterly results.

The Australian dollar has pulled back from recent highs as the greenback finally finds its feet following days of losses.

THE state government is struggling to sell its economic strategy, with around 80 per cent of respondents to a recent Chamber of Commerce and Industry of WA survey feeling there is no credible plan

Foreign Minister Julie Bishop has told the LNG 18 conference that Australia's increasing role as an energy exporter added significant weight to the country's strategic influence, while touting the benefits for the industry of recently signed free trade agreements.

Resources Minister Josh Frydenberg said the federal government would be pushing states to remove moratoriums on unconventional gas extraction, including fracking, he told the LNG 18 conference today.

Total chief executive Patrick Pouyanne has flagged that the next batch of LNG projects may not be as far off as some think, speaking at the LNG18 conference today.

Gorgon lessons but no regrets

Global oil prices have hit four-month highs, hovering just under $US45 a barrel after a report that top producers Russia and Saudi Arabia have agreed to freeze output ahead of a much-anticipated producers meeting on Sunday.

Wall Street has closed higher, led by surging energy shares that were buttressed by rising oil prices, as investors scooped up equities at the start of corporate earnings season.

The Australian dollar is soaring towards 77 US cents amid an oil price rally.

Woodside chief executive Peter Coleman told the LNG 18 conference in Perth today there could be opportunities for LNG producers to move further into downstream markets, particularly in developing countries, where demand for gas existed but barriers to entry had slowed take up.