Retail sales rose 1.2 per cent nationally to $26.4 billion in November, in seasonally adjusted terms, beating market expectations of an increase of 0.4 per cent, while Western Australian retail spending was up 1.4 per cent for the month.
Australian shares have opened lower after Wall Street slid early in its session following a report that China could be set to stop or slow its US Treasuries purchases.
Melbourne-based Crocmedia, which is merging with a listed company backed by Perth investment group Viburnum Funds, has been announced as the radio partner of Optus Stadium for the next five years.
Melbourne-based shell company Public Holdings (Australia) is set to move into gold exploration after striking a deal to acquire a group of Western Australian gold tenements from prospector Denis O’Meara, while also announcing plans for a $7.5 million capital raising.
Indonesian group Eastern Field Developments has extended the offer period for its hostile 23-cents-a-share bid for Finders Resources, while also raising a number of concerns with the copper miner’s supplementary target statement.
Perth-based BCI Minerals has signed a non-binding memorandum of understanding with Chinese steel producer Sinosteel to assess potential development of BCI’s Buckland project in the Pilbara.
James Cullen has emerged as the major shareholder at new listing Babylon Pump & Power, which is led by Michael Shelby, formerly general manager at Mr Cullen’s former company Resource Equipment.
Perth-based Eden Innovations’ concrete admixture has been approved by the Oregon Department of Transportation, with EdenCrete now permitted for use in 11 US states.
Approvals for the construction of new homes have jumped by 11.7 per cent in November, boosted by a spike in apartment and townhouse construction activity in Victoria, Western Australia and Tasmania.
Perth-based Volt Resources has raised $4.7 million through a strongly supported exercise of listed options, with the proceeds to be used to develop the company’s Tanzanian graphite project.
Engineering and construction group Valmec has tapped investors for $5.1 million through a strongly supported share placement that will strengthen the company’s balance sheet.
Australian shares have closed slightly higher despite the market giving up most of its early gains, lifted by support for big banks, telcos and healthcare stocks.
City of Perth Lord Mayor Lisa Scaffidi says she is focused on diversifying the city’s economy away from the mining industry as she returns to work after a four-month absence.
Troubled sandalwood producer Quintis says its board intends to advise shareholders to vote against a series of resolutions to spill the board, while also announcing a one week extension on its forbearance agreement.
Mustang Resources has secured a $19.9 million funding package from US institutional investor Arena Investors LP through a multi-tranche convertible note facility, while also announcing plans to raise up to $4 million via an entitlement offer.
The state government has announced six more local businesses that will operate at the new $75 million Yagan Square development, set to be opened next month.
Australia have completed a 4-0 Ashes series win, with Pat Cummins' express pace easing his side to victory by an innings and 123 runs in the SCG finale.
Australia is in a commanding position after the second day of the final Ashes test, sitting at 2-193 with Steve Smith unbeaten on 44 and Usman Khawaja on 91.
The state government has approved an application from local business Old Salt to install a $2 million event barge on the Swan River near Elizabeth Quay.
