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Tumbling overseas markets - combined with weaker metals and oil prices, and pending scrutiny for the big banks - have given Australian shares a whack at the open, while the Aussie dollar remains at near two-and-a-half year lows in the face of a strong greenback.

Boost for Pilbara power plan

US stocks dropped for a second straight day on Friday, weighed down by another rise in Treasury yields in the wake of a solid jobs report that capped off a week of robust data.

Crude futures steadied after climbing to four-year highs, while both Brent and US crude marked weekly gains ahead of US sanctions on Iranian oil exports.

Gold edged higher as the US dollar softened on data that showed job growth had slowed more than expected last month, while a slide in stock markets burnished the appeal of bullion as a safe haven.

West Perth-based oil hopeful Norwest Energy has said a delay in regulatory approvals has pushed back the targeted start of a seismic survey at its Xanadu prospect in the Perth Basin until at least March 2019.

Australian stocks have recovered from a morning slump to end the week on a high but a strong greenback has battered the Aussie dollar.

Rio Tinto and Hancock Prospecting have today opened a new mining pit that will help sustain production volumes at their jointly owned Hope Downs operation in the Pilbara.

PCF Capital founder Liam Twigger has revealed plans to raise up to $350 million for a cryptocurrency token that will back a new investment fund for gold mining juniors, in what would be the most significant Australian blockchain-related deal to date.

The state government has signed up for the Commonwealth’s vocational training fund, which will provide up to $126 million in matched funding for a planned incentive scheme to boost apprenticeships and traineeships.

Perth has been named host city for next year’s Dreamtime tourism showcase, Australia’s major event for promoting Australia as a world-class incentive destination to overseas travel sellers and buyers.

The Queensland government has awarded Perth-based Georgiou Group the Bruce Highway – Cairns Southern Access Corridor stage four project, in joint venture with local construction company Koppens Developments.

PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss ScoMo’s visit, Rio Tinto invests, mining contractor wins, BN30’s all time high, Scarce Skills and labour costs, shopping centre acquisitions, Chevron HQ, building approvals and our special this week on corporate finance deals.

Monadelphous is one of three contractors to have been appointed to a panel for $450 million of water projects in regional NSW, and has secured its first contract under the program.

Shareholders in retail giant Wesfarmers will vote next month on whether the $20 billion demerger of supermarket chain Coles will proceed.

Gold miner Doray Minerals has announced the sale of its mothballed Andy Well project near Meekatharra to Canadian company Galane Gold in a deal worth $10 million.

Dreamscape Networks is pleased to announce that it has entered into a Binding Heads of Agreement to acquire 100% of Hong Kong based hosting and domain business PacHosting from privately held Pacifi

A retail deal with Priceline Pharmacy is the latest win for local makeup business The Quick Flick, which was launched last year by Perth university student turned entrepreneur Iris Smit.

Growing investment in rooftop bars across Perth reflects a need to offer a point of difference in what has been a tough market, publicans say.

Opinion: Having made solid progress in reducing its budget deficit, the pressure is on the state government to introduce structural economic reform.

Wall Street's overnight tumble has taken the edge off Australian shares at the open, while the Aussie dollar continues to loiter at near two-and-a-half year lows in the face of a strong greenback.

Stoked US pushes rates up, $A down

US stocks fell broadly on Thursday, mirroring weakness in the global markets, as government bond yields surged to multi-year highs on robust economic data and optimistic views from the Federal Reserve.

Oil prices fell overnight as the prospect of increased crude production from Saudi Arabia and Russia prompted profit-taking the day after futures hit four-year highs on a boost from imminent US sanctions on OPEC's number three producer, Iran.

Gold steadied as positive US economic data and prospects of tighter monetary policy offset limited gains from safe haven buying.

The Housing Industry Australia has forecast an 8.6 per cent increase in WA’s house building starts in 2019 after four years of declining activity, on the back of positive house building and sales numbers.

While many are still struggling to get their heads around blockchain as the mysterious force behind bitcoin, the technology is rapidly evolving.

The Australian share market has closed higher, buoyed by the banks and commodity-related stocks, but the Aussie dollar has fallen below 71 US cents for the first time since February 2016.

A strong run over the past month from listed companies Mineral Resources, Woodside Petroleum and Seven Group Holdings has helped push Business News’ index of 30 local stocks to a record high this week.

The state government has today announced an updated community services policy, providing five-year contracts with the aim to give not-for-profit organisations greater funding security.

In a wide-ranging interview, Mark Pownall explores the career of Tianqi Lithium general manager Phil Thick and discusses the state of the battery metals industry.

Mining contractor Macmahon Holdings has agreed to pay a $6.7 million settlement for a class action related to cost overruns at a construction project in 2012.