News

Premier Investments is acting on threats to oust the board of Myer with a request for the department store chain's shareholder register in a first step towards holding a vote to install new directors.

CIMIC Group's shares have soared after the construction giant raised its dividend by 13 cents on the back of a 21 per cent lift in full-year profit and forecast a rise in profit in the year ahead.

The blockchain is a powerful tool of trust and verification, writes Sam Birmingham.

The state government has announced the formation of a development committee to guide three key projects in Bunbury, with Bunbury Chamber of Commerce and Industries president David Kerr and The Apprentice and Traineeship Company chief executive Stan Liaros among those selected for the committee.

Bankwest has recorded a $339 million net profit for the first half of the financial year, fuelled by solid income growth and flat expenses, along with lower loan impairments compared to 2016.

Australia shares are regaining ground after an overnight turnaround on Wall St stablilised three days of horror losses on global markets.

Investors try to hold their nerve

The Australian share market has suffered its biggest one-day fall in more than two years, wiping around 3.3 per cent from its value, after Monday night's plunge on Wall Street.

The state’s automotive industry got off to a positive start in 2018 with a rise in new vehicle sales for January, compared to last year, on the back of increased SUV and light commercial vehicle sales.

Western Australian small businesses are unhappy with the current state of the economy but are the most optimistic in the nation about its future, a survey has found.

Retail spending was more sluggish than expected in December, following a surprisingly strong lift in November.

Australia's trade balance fell into deficit for only the second time in 2017 in December due to a rise in imports.

Finbar Group will officially launch the first stage of its $342 million three-tower development at Canning Bridge in Applecross this weekend.

Consumer spending remains a concern for the Reserve Bank of Australia, which has again left the cash rate on hold at 1.5 per cent.

Marine services business Bhagwan Marine has opened its new head office on St Georges Terrace, after the company announced plans to shift from Geraldton in June last year.

Ausdrill managing director Ron Sayers has announced his retirement after 30 years at the helm of the mining services company he founded.

The plunge in US stocks has infected Australian shares, with the local bourse opening sharply lower in a "bloodbath" after the Dow industrials hit its biggest one-day decline in history.

Building shutdown

Four contractors have been invited to submit proposals for the design and build of the $50 million Wanneroo Road and Joondalup Drive interchange, which is set to begin construction mid-year.

Australian shares have lost around $33 billion after a sharp fall in US markets last Friday sent local investors running for the exits on Monday.

Arrow Minerals (formerly Segue Resources) has received $5.2 million through a joint venture agreement and equity investment from nickel and gold producer Independence Group, along with a capital raising to fund its gold and lithium projects in Western Australia.

ANALYSIS: Investors are taking note of Wesfarmers’ fraught foray into the UK hardware market.

Medical dermatology company Botanix Pharmaceuticals has raised $15 million through a strongly supported share placement, with the proceeds set to be spent on developing its lead product for acne.

Downer EDI has flagged a goodwill impairment charge of $77 million on its mining operations after failing to renew two material contracts and delays in securing alternative business.

Takeover target AWE has decided that an offer from Japanese firm Mitsui & Co is the best option among three suitors vying for control of the company.

Wesfarmers is overhauling the leadership at its underperforming UK hardware business after the struggling unit was responsible for the majority of $1.3 billion in first-half writedowns and impairments.

Australian shares have slid sharply in early trade after the US stocks markets' worst day in nearly two years weighed on investors' minds, while the Aussie dollar has also slipped back below the 80 US cents level.

New Rugby Australia chief executive Raelene Castle has left the door ajar for the Western Force to return to the fold in 2021, but the Indo Pacific Rugby Championship remains in limbo.

The Australian share market has made solid gains after a surge in energy stocks and improvements for the big banks turned around a mixed overnight lead out of the US.

Aspiring graphite miner Hexagon Resources has signed a non-binding offtake agreement with a Chinese building company for 30 per cent of the company’s planned production at its McIntosh project in the Kimberley.

North Fremantle-based Mustera Property Group has announced the launch of a new fund, with its first purchase being a $16.5 million shopping centre in Perth’s southern suburbs.

West Perth-based CBH Group has recorded a grain harvest of 13.2 million tonnes for the 2017-18 season, well above initial estimates following good finishing rains.