Latest Headlines

The global economic turmoil has prompted West Perth-based BC Iron to review a smaller start-up operation for its Nullagine iron ore project in the Pilbara which could save its some $80 million in development costs.

Downer EDI has secured a $35 million engineering contract with BHP Billiton for expansion works at its Pilbara iron ore operations, while Paladio Group has won its third Woodside contract in two months.

A German-based company has agreed to invest over $11 million in metal recycling group CMA Corporation and provide expansion opportunities.

The state government has appointed former resources department deputy director general, Stuart Smith, as the new chief executive of the Department of Fisheries.

The Western Australian housing market has taken another hit today with latest figures showing building approvals falling nearly 14 per cent in September, nearly double that of the national trend.

The state government has announced it is seeking a development partner for a major part of its landholding at Alkimos, 40 kilometres north of Perth.

West Australian Newspapers Holdings Ltd has posted a lift in profit for the first quarter of fiscal 2009, despite a weaker advertising market.

Allco crashes under $1bn debt burden; Receivers to take over ABC Learning; White knight tip emerges in battle for Mt Gibson control; ETS modelling under fire; Telstra issue broadband ultimatum

Perth property developer Kevin Pollock has been given a suspended three year sentence in the Supreme Court of Perth after being found guilty of fraud charges totalling over $3 million.

Western Australia's business community will have the opportunity to ask the federal government questions regarding the financial crisis, as the Chamber of Commerce and Industry WA welcomed today's rate cut decision by the central bank.

CommSec is tipping a further interest rate cut of 25 basis points next month as the central bank today slashed rates by a bigger than expected 75 basis points, a move welcomed by various lobby groups across the country.

Western Australian businesses spend more on research and development as a proportion of gross state product than business in any other state, according to data from the Australian Bureau of Statistics.

The Commonwealth Bank of Australia is the first bank to pass on some of the central bank's rate cut, lowering its standard variable home loan rate by 58 basis points.

The Reserve Bank of Australia has cut the official cash rate by 75 basis points to 5.25 per cent, its lowest level since March 2005.

Subiaco-based PharmAust Ltd, through its wholly owned subsidiary Epichem Pty Ltd, has entered into a joint venture agreement with Curtin University to develop oral insulin for the treatment of diabetes.

A new survey has revealed business conditions have slumped to their lowest level in 14 years, backing the need for today's expected interest rate cut.

The takeover tussle for Incremental Petroleum Ltd could be extended after the corporate watchdog asked bidder Cooper Energy Ltd to extend its deadline that it thought was final.

United States company Cleveland Cliffs has ended its takeover of iron ore miner Portman Ltd with a 99.27 per cent interest, boosted by acceptances to its offer and on-market purchases.

Delay carbon plan, warns RBA director; Hundreds of jobs go as crisis hits miners; Stamp duty slump hits state budgets; Housing, retail downturn boost case for rate cut; China demand slowing, admits Rio

Australian executives are expecting further economic turbulence in the New Year as credit market conditions, a volatile Australian dollar and inflationary pressures impact profit and investment prospects for 2009.

Herdsman-based Olympia Resources Ltd is undertaking a strategic review of its projects in light of the current financial crisis while chairman Mal Randall steps down.

Gindalbie Metals Ltd plans to raise $162 million through a share placement to Chinese project partner AnSteel to cover its final payment towards the $1.8 billion Karara iron ore joint venture.

The effect of banks tightening the purse strings on small to medium enterprises could seriously hamper the Australian economy in the long term, East & Partners' latest SME Banking Markets Report reveals.

Perth-based Bauxite Resources Ltd has entered into an off-take agreement with a Chinese alumina producer to supply all of its entire requirements.

Stockbroking firms DJ Carmichael & Co and Montagu Stockbrokers have revealed they are in merger discussions, according to a report.

Mines and Petroleum Minister Norman Moore has not given up hope the state can still benefit from Inpex's multi-billion dollar Ichthys liquefied natural gas facility.

Perth-based Mission NewEnergy Ltd has produced first bio-ethanol from non food agricultural waste material, which sets up the company to produce the fuel from a range of low-cost and readily available feedstock.

Cazaly Resources Ltd will pay a total of $6 million to West Perth-based Carbine Resources Ltd to exit a farm in and joint venture deal.

Consumer watchdog Choice has today launched a campaign to find an alternative buyer for BankWest, which has accepted a $2.1 billion takeover from the Commonwealth Bank of Australia.

Clough Ltd has signed a $56 million agreement with Superior Energy Services Inc to charter the newly built Rem Clough and provide associated subsea services.

Gindalbie Metals Ltd has entered a trading halt pending the release of an update on funding discussions over its $1.8 billion Karara iron ore project.

Perth has recorded the biggest fall in house prices over the past year as latest figures from the Australian Bureu of Statistics confirm a slowdown in the national housing market.