News

Western Australian schools will introduce new precautionary measures, including cancelling assemblies and staggering recess and lunch breaks, to slow the spread of the coronavirus.

Australia's volatile share market has plunged more than six per cent after sentiment for equities suddenly soured despite rate cuts from the Federal Reserve and other central banks.

Gold tumbled as much as 4.5 per cent on Friday as investors embarked on a selling spree to hoard cash and meet margin calls across other markets which have been battered by the impact of the coronavirus outbreak.

Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.

Decmil plays the blame game with NZ Corrections

The Australian share market has staged a dramatic recovery from its morning losses of as much as 8.1 per cent to finish 4.4 per cent higher.

West Leederville-based medtech startup Singular Health will raise $1 million ahead of a planned IPO in September, with PAC Partners appointed lead manager for the listing.

The Australian Grand Prix has been cancelled as the prime minister faces calls to cancel mass gatherings to slow the spread of the coronavirus.

Australia's share market has tanked another four per cent amid panic selling after the worst day ever for European equity markets and the most calamitous for Wall Street since 1987.

Welfare groups want more spending

Wall Street has tanked, slamming the book on the longest-ever US bull market after new travel restrictions to curb the coronavirus spread spooked investors and rattled world markets.

Brent crude slid 7 per cent overnight after President Donald Trump restricted travel to the United States from Europe as part of measures to try to halt the spread of coronavirus pandemic.

Palladium prices have plunged as much as 28 per cent as panic selling driven by intensifying fears over the coronavirus pandemic seeped into precious metals, with gold slumping more than four per cent as investors rushed to cover margin calls in other assets.

Transport Minister Rita Saffioti has disputed claims made by opposition leader Liza Harvey at yesterday’s Business News Politics & Policy breakfast that manufacturing rail cars in Western Australia constituted an investment in a failed and unsustainable industry.

The Australian share market has suffered yet another day of carnage, plunging again after US President Donald Trump suspended travel from Europe for a month to limit the coronavirus pandemic.

The West Australian Police Union has rejected a fifth and final wage offer from the state government, which means the dispute may go to the Industrial Relations Commission.

Woodside casts more doubt on LNG projects

Oil prices fell 4 per cent overnight with renewed weakness in the stock market after the World Health Organisation said the global coronavirus outbreak is now a pandemic, and as major oil producers announced plans to escalate the burgeoning price war.

Gold prices fell on Wednesday as traders sold the precious metal to cover margins for stock markets spooked by the global spread of coronavirus.

Liza Harvey has positioned herself as a reliable ally for WA businesses, outlining an agenda prioritising job creation and economic diversification at a Politics & Policy breakfast today.

There's no bottom in sight for the Australian share market, which has shed all of Tuesday's gains to close at its lowest level in 14 months.

Investors have switched to sell mode again as they wait for details on stimulus, sending Australia's volatile share market lower despite a rally on Wall Street overnight.

Tax relief is the remedy

Oil prices jumped more than eight per cent overnight, bouncing from the biggest rout in nearly 30 years as the possibility of economic stimulus encouraged buying and US producers slashed spending in a move that could cut output.

Gold slid over 1.5 per cent on Tuesday, backing off the $US1,700 ceiling hit in the previous session, as expectations of global policy measures to alleviate the economic impact from the coronavirus eased some investors' concerns and lifted share markets.

Australia's turbulent stockmarket has rebounded, finishing more than three per cent higher in a dramatic recovery from early panic selling.

The Perth Mint’s gold, silver and platinum holdings stored on behalf of clients have reached $5 billion in value, with the mint citing a flight to safety by investors as a result of the coronavirus outbreak.

Global company Manheim Auctions has fallen victim to a $30 million ransom demand from cyber criminals who have locked its computer system in Australia.

Crude prices suffered their biggest daily rout since the 1991 Gulf War overnight as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.

Gold retreated from the $US1,700 level touched briefly earlier on Monday, as investors sold the bullion to cover margin calls amid plummeting equity and energy markets, overshadowing the metal's safe-haven demand.

PM’s crisis call to big business

A Perth Glory soccer game planned for next Wednesday has been postponed, while the state government has announced it would open three clinics at metropolitan hospitals tomorrow to test for coronavirus, as the epidemic escalates with WA’s sixth case confirmed today.