News

Australia's travel ban on people coming from China has been extended for a further week as the government enacted an emergency response plan to deal with the coronavirus.

The Housing Industry Association is projecting an improvement in Western Australia’s home building market by the end of this year, citing an increase in population, building approvals and private house sales as cause for optimism.

Perth-based Medusa Mining has reported an accident at its Co-O gold mine in the Philippines, resulting in the death of two of its employees.

CBH Group has awarded contracts to WCP Civil and Georgiou Group, as part of what it expects to be more than $200 million in planned spending on the company’s network this year.

Australia's largest car dealership chain says the tough conditions in the vehicle market show no sign of rebounding, with nationwide sales down 7.8 per cent in 2019 and 12.5 per cent in January, compared to a year ago.

Lynas Corporation says Malaysia has approved a new three-year licence that allows it to operate the only major rare earths processing plant outside of China.

Flight Centre has slashed its full-year profit guidance amid the worsening impact of the coronavirus outbreak on the travel sector and as its first-half profit plunged.

The Australian share market has crept marginally higher after three tumultuous days during which most of the gains it made this year were all but wiped out.

Mining sector set to come to the rescue of poor business investment

Oil prices fell three per cent on Wednesday after hundreds of new coronavirus cases reported in Europe and the Middle East stoked fears that energy demand would decline, and on concerns that the virus would become a pandemic in the United States.

Gold prices have gained following a steep fall in previous sessions as concerns over the coronavirus outbreak and its impact on the global economy raised hopes of interest rate cuts by major central banks.

A third straight day of monster losses for the Australian share market has come close to wiping out the local bourse's phenomenal gains since the start of the year.

Nine Entertainment has flagged cost cuts to its free-to-air businesses after a sharp drop in half year profit amid amid a weaker advertising market.

Virgin Australia is slashing its Tigerair fleet and cutting back on flights to rein in costs as the coronavirus cruels demand for leisure destinations and its budget airline's routes.

Australian shares have tanked nearly two per cent with falls across the board following a dive on US equity markets after a warning for Americans to prepare for the coronavirus.

Doubts surface over French sub pledge

Oil fell below $US56 a barrel overnight dropping for a third day, as concerns about the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.

Gold fell over one per cent on Tuesday as the metal's rally to 7-year highs in the last session prompted profit-taking even as worries about the coronavirus kept investors anxious about the fate of global economy.

Australian stocks have suffered through second day of major losses, although they rebounded from their lows on news that US researchers had developed an experimental coronavirus vaccine.

Perth Glory owner Tony Sage will no longer proceed with a proposed deal to sell a majority stake in the football club to a London-based cryptocurrency exchange, following two weeks of questioning over the terms of a proposed sale.

Vitamins producer Blackmores has reported a 46 per cent plunge in first-half profit, and flagged trouble from the coronavirus.

Australian stocks have plunged more than two per cent after fears the coronavirus could become a pandemic sparked a major sell-off on global markets.

Pandemic plan as virus spreads

Australian stocks are set to plunge again after fears about the spread of the coronavirus sparked a major sell off on global markets overnight.

Oil prices has slumped by nearly 4.0 per cent as the rapid spread of the coronavirus outbreak in countries outside China added to investor concerns over the effect on demand for crude.

Gold has soared as much as 2.8 per cent on Monday to its highest level in seven years, as investors worried about global economic growth in the face of sharply rising coronavirus cases outside China.

The Australian share market has suffered losses across the board, with $60 billion in value wiped out in the local bourse's worst day in six months. Energy stocks were hardest hit, as concerns grow over coronavirus, while gold was one of the few positive sectors.

Australia's four major airports achieved record profit in the past financial year, according to the ACCC, with Perth Airport touting its high passenger satisfaction relative to its counterparts on the east coast.

Energy, chemicals and resources company Worley has posted a 40 per cent jump in interim net profit to $115 million thanks to improved market conditions and the benefits of its Jacobs Engineering division buy, while at the same appointing Andrew Liveris as its deputy chairman.

Health insurer nib has posted a 23 per cent fall in first-half profit, blaming a rise in claims for the softer result.

Australian stocks have plummeted after offshore markets fell on fears the coronavirus outbreak is spreading across Asia and will increasingly affect global economic activity.

All eyes on Rio Tinto and its $6b payout