Wall Street's three major indexes tumbled and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown.
Gold has fallen to its lowest in over a week and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust US economic data ahead of a US Federal Reserve meeting next week.
Oil prices have dropped about two per cent, weighed down by falling US stock markets, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.
Older coal fired power stations such as Synergy’s Muja C&D could begin closing in 2023, driven by changing market dynamics, while harsher carbon policies would accelerate shutdowns, according to a recent report by the Australian Energy Market Operator.
The Australian share market lost more than one per cent, with financial stocks weighing heavily as renewed fears about a global growth slowdown gripped investors pessimistic about dour economic data from China.
Australia's openers made a mockery of pre-match expectations before India's four-pronged pace attack fought back to reduce the hosts to 3-145 at tea on day one of the second Test in Perth.
Subiaco-based Birimian has announced plans to raise $8.2 million for its Goulamina project in Mali, while the lithium aspirant also flagged a business review and two separate agreements with Chinese companies.
The cost of building the Ichthys LNG project has blown out again, with French group Total saying it has increased by $US5 billion to $US45 billion, but project operator Inpex is disputing the extent of the increase.
A revised feasibility study released by Explaurum has detailed a reduced capital cost of $111 million for its Tampia project in the Wheatbelt, as Ramelius Resources increased its stake in the gold explorer to 20 per cent.
PODCAST: Mark Beyer and Matt Mckenzie discuss Stan Perron, our update on major WA projects — some going ahead, some not — Westport, the space agency, lobster quotas, and our person of the year feature.
Australian institutional investors and offshore property powerhouses sharpened their focus on potential upside in Perth’s office market in 2018, as the total value of transactions approached $1 billion.
Luxury car dealership Luxuride and its director have been fined a total of $100,000 by the Perth Magistrates Court for breaking laws designed to protect consumers.
SPECIAL REPORT: Paul, Nathan and John Blackburne are proving that they don’t have to work for the same company to leave a family legacy in Perth’s property industry.
Wesfarmers has appointed mergers and acquisitions expert Mike Roche to its board as it seeks out fresh opportunities, after offloading Coles and exiting the UK hardware market.
Oil prices climbed one per cent overnight after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought.
Gold eased to its lowest level in nearly one week overnight as the dollar rose and investors latched on to gains in global stocks, while palladium touched record highs on expectations of higher demand for the auto-catalyst metal.
Singapore’s GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.
Banking and mining stocks have lifted the Australian share market higher, but gains were limited by a slump from the telco sector after the competition watchdog raised concerns over TPG's planned merger with Vodafone Australia.
GE subsidiary Baker Hughes and McDermott International have been picked for front end engineering and design work on Western Gas’s Equus project, under a contract arrangement whereby they will see the project through to commissioning.
Gold aspirant Capricorn Metals has locked in a $107 million debt package, while Subiaco-based TNG has appointed a German bank to lead a $US600 million ($850 million) debt raising.
P&N Bank is considering a merger with regional east coast credit union bcu, which is about half the size of the Perth-based lender, to form a combined group with a $6 billion asset base and 150,000 customers across the country.
