News

Western Australians who don't comply with self-isolation directions will have an electric device installed in their homes or be warned under new laws to address the COVID-19 crisis.

Wesfarmers expects to make a $130 million pre-tax profit after selling down another lot of shares in supermarket giant Coles to shore up its balance sheet.

The Australian share market has gained more than three per cent as its buoyant mood resumes following its best ever session.

WA’s FIFO ban a blow for resources giants

Global oil benchmark Brent crude plunged to its cheapest in almost 18 years overnight and US crude briefly tumbled below $US20 per barrel on growing fears the global coronavirus shutdown could last months and demand for fuel will decline further.

Gold prices inched up on Monday after an extension of restrictions in the United States exacerbated concerns about the economic toll of the coronavirus pandemic, driving investors to safe-haven assets.

The state government has unveiled $184 million in initiatives to boost crisis support and provide rent relief for small businesses and not-for-profit groups impacted by COVID-19, while the City of Perth has also announced a rent-free period for tenants in city-owned buildings.

The Australian share market has rallied hard in its final minutes for its best day ever after Prime Minister Scott Morrison announced the government's fiscal stimulus measures.

An 11th hour agreement has resulted in 29 passengers from the Artania cruise ship who have tested positive for COVID-19 being transferred to Joondalup Health Campus, after earlier proposals to shift them to Hollywood Private Hospital, the Mount Hospital and Bethesda Health Care were criticised.

The Australian share market has shaken off a weak lead from Wall Street to rise early as government prepares to announce further economic support measures for businesses amid the COVID-19 pandemic.

Wage subsidy for big business

Oil prices plunged another five per cent and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.

Economic damage expected from the coronavirus continues to boost the bullion's safe-haven appeal.

Prime Minister Scott Morrison announces further restrictions for international arrivals, Health Minister Roger Cook confirms 24 new cases of COVID-19 in Western Australia, Premier Mark McGowan announces a ban on regional travel, and Mines and Petroleum Minister Bill Johnston proposes new rules to help mineral exploration companies.

Australia's share market has plunged again following three days of gains, smashing any incipient hopes that the bear market is finished.

Australia's share market has surged more than two per cent as investors buy up stocks across the board after another sharp rise in US equities.

Retail rescue: rent, tax relief

Oil prices lost more than $US1 a barrel overnight as restrictions on travel worldwide slashed fuel demand.

Gold prices jumped to a two-week high overnight, after a record surge in US jobless claims dented the dollar and boosted expectations of further stimulus to cushion the global economic toll from the coronavirus pandemic.

Australian shares have rallied for a third straight day after a massive US stimulus deal sent global markets soaring.

RAC is the latest business to be affected by the COVID-19 pandemic, announcing it will temporarily close all nine of its parks and resorts throughout Western Australia until May.

The state government has this morning announced that it is encouraging parents to keep their children at home, reflecting what it said were new guidelines based on national medical advice.

East Perth-based Uno Group is publishing online bi-weekly updates on consumer trends during the COVID-19 pandemic in an effort to help businesses deal with the hardships brought on by measures to contain the virus.

Seven passengers aboard the Artania anchored off Perth have tested positive for coronavirus, prompting WA Premier Mark McGowan to call on the navy to help get the cruise ship to leave.

Virus-ravaged travel firm Flight Centre says an initial 6,000 of its sales and support staff globally will either be stood down or made redundant in the company's latest bid to preserve a future.

Australian shares have rallied more than two per cent for a third straight day of morning gains after a massive US stimulus deal sent global markets soaring.

Funds may not insure pandemic deaths

US crude prices rose slightly overnight, bolstered by progress on the US economic stimulus package, but government data shows the coronavirus pandemic started to hurt US fuel demand last week.

Palladium prices rocketed overnight as a lockdown in major producer South Africa exacerbated supply woes, while gold inched up as markets eyed US stimulus.

Australian shares have achieved back-to-back gains for the first time since the coronavirus crisis began, rallying in the final minutes of trade on reports that US politicians have reached a deal on a massive US stimulus deal to shore up the world's biggest economy.

In a single month, the entire tourism industry has been turned on its head, with operators big and small subject to a harsh new reality.

Medical tech firm Cochlear is seeking to eliminate liquidity risk by raising $850 million as the coronavirus pandemic delays elective surgeries across a growing number of countries.