Australian shares have retreated on Tuesday as falling metals prices and a slump in Amcor after its giant US acquisition put pressure on the materials sector.
WA-based Azark Projects is calling on the federal government to review its preference for a nuclear waste storage facility in South Australia, with the George Gear-led company proposing Leonora as a more suitable location.
South Australia-based York Civil, which is finalising construction of the Matagarup Bridge and recently won a $30 million contract at Port Hedland, has been placed into voluntary administration.
Special Report: Early-stage social enterprises and not for profits will have a new home available in the city when The Platform opens up a new space, Purpose Studio, next week.
Special Report: Thousands of square metres of co-working space are set to open in Perth in the next 18 months, and it’s clear smaller businesses are looking for more than just a hot desk.
Perth-based tech company Velpic has struck a deal to sell its primary business to Damstra Technology for about $3.8 million, weeks after most of its staff were made redundant.
The Reserve Bank has left the cash rate unchanged at 1.5 per cent for the 24th month in a row, with RBA governor Philip Lowe adding the drought affecting large parts of the country to his list of concerns.
CPB Contractors has added to its portfolio of Main Roads projects after being selected as preferred contractor for a $50 million upgrade of the Wanneroo Road and Joondalup Drive intersection.
Perth-based conglomerate Wesfarmers has sold its stake in the Bengalla coal mine in NSW, continuing a major reshaping of its portfolio after the sale last year of another coal mine and the planned spin-off of its Coles business.
Australian shares have opened lower, dragged down by the mining sector and despite a slight rise on Wall Street overnight as investors applauded a strong US earnings season.
Oil futures have gained after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the US prepares to reinstate sanctions against major exporter Iran.
The three major US stock indexes closed higher as investors applauded a strong US earnings season with results from Berkshire Hathaway impressing and Facebook getting a boost.
Australian shares rose on Monday, as strong iron ore prices in China helped material stocks while investors were largely focused on earnings due later in the week.
Zenith Energy has completed a $40 million issue of subordinated debt notes through FIIG Securities, with the proceeds to be used for refinancing existing debt, capital expenditure and acquisitions.
Echo Resources has released a bankable feasibility study for its Yandal gold project in Western Australia, with the company forecasting a $39.3 million capital expenditure for the mine.
Four local mining companies have announced new chief executives as the industry shifts its focus to the annual Diggers & Dealers conference in Kalgoorlie, which kicked off today.
Fortescue Metals Group has reduced its stake in Atlas Iron but crucially still holds more than 10 per cent, meaning Gina Rinehart's Hancock Prospecting will not be able to acquire full ownership of the takeover target.
Property developer Tian An Australia (formerly PBD Developments) has won regulatory support to postpone the start of construction at its long-delayed Point Grey marina south of Mandurah.
Australian shares have opened higher, led by mining heavyweights BHP and Rio Tinto following a rise in metal prices, and gains on Wall Street on Friday.
UPDATED: Gina Rinehart’s Hancock Prospecting announced late Friday it has increased its stake in takeover target Atlas Iron to 56 per cent, giving it effective control, and extended its $390 million offer for two weeks.
