About $70 billion of value has been erased from the ASX today, while the federal government is increasing pressure on Russia as the Ukraine crisis escalates.
Australian contractor CIMIC has told shareholders to take no action in response to a takeover proposal from majority shareholder HOCHTIEF that lifted shares by 33 per cent.
Russian forces have fired missiles at Ukrainian cities and landed troops on its south coast, officials and media say, after President Vladimir Putin authorised what he called a special military operation in the east.
Prime Minister Scott Morrison won't freeze fuel excise, even as global oil prices near $US100 per barrel with Russia and Ukraine on the brink of all-out war.
Shares in Decmil fell 11 per cent after posting a $3.9 million loss for the half-year, alongside a lift in revenue, as the company picks up more work but grapples with labour availability and contract disputes.
High profile businessman Nev Power will have to endure another painstaking month-long wait before knowing whether the court believes his COVID travel breaches warrant jail time.
COVID WRAP: WA records 617 COVID cases overnight as the opposition labels the state government's $67 million in business support evidence the initial package was "inadequate".
Jack Bendat arrived in Perth 56 years ago with little money and no connections. He proceeded to carve a business career that made him one of WA’s most successful entrepreneurs.
Administrators were appointed to 18 WBHO Australia entities overnight, including West Perth-based WBHO Infrastructure, and Probuild, which could be expected to owe at least $250 million.
The $700 million Kwinana Waste to Energy plant being built by Acciona will not be ready until March 2023, as more details about the legal battle around the project come to light.
The City of Perth has backed the WA Housing Authority’s plan to build a $34.5 million apartment tower on Wellington Street, but not everyone is as supportive.
Nev Power has stepped down as chairman of Perth Airport and taken a leave of absence from Strike Energy and APM, ahead of his sentencing for breaching COVID travel rules.
Updated: South African business WBHO has withdrawn financial support for its Australian entity, putting the parent of $4.7 billion construction giant Probuild into administration.
Annual wages grew 2.3 per cent as of the December quarter, the highest since mid-2019, but still lagged well behind the rate of inflation at 3.5 per cent.
COVID WRAP: The number of COVID cases in WA has surged by 645 overnight, the state government releases its COVID modelling and the opposition demands guidance for GPs.
WA contractors Monadelphous and Perenti both enjoyed improved revenues during the first half of the financial year, but labour and productivity constraints continue to hamper the sector.
