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Twiggy and Feds combine to increase kits 20-fold

US crude prices settled lower, falling about 3.0 per cent as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production during the COVID-19 pandemic.

Profit taking and upbeat plans in some countries to loosen coronavirus restrictions has weighed on gold prices.

SPECIAL REPORT: As markets struggle under the pressure of the COVID-19 pandemic, the medtech industry has found itself with an unparalleled, if challenging, opportunity.

Three Perth-based contractors are members of two consortia shortlisted to build the $215 million extension of the Mitchell Freeway from Clarkson to Alkimos.

Long-time public servant Michelle Reynolds has been appointed chief executive at the embattled City of Perth, replacing acting chief executive Murray Jorgensen.

WA has recorded one new coronavirus infection overnight. The state's active cases have fallen to 47. WA has received a further $4 million worth of PPE.

SPECIAL REPORT: Despite WA’s history of innovative medical research, the state’s medtech sector continues to grapple with outsider perceptions and its own commercial direction.

Global mechanical drive systems supplier Flender is establishing a manufacturing base in Western Australia, becoming the latest tenant at the Linc Property-led Tonkin Highway Industrial Estate.

The Australian share market has closed down marginally after another dip in oil prices outweighed gains by the tech and consumer discretionary sectors.

Saracen Mineral Holdings has posted record gold production for the March quarter, while fellow miner Northern Star Resources said today it expected a strong improvement after operations were hit by COVID-19 restrictions.

ASX-listed fund manager Primewest is building a portfolio of agricultural assets, launching a $100 million syndicate and announcing the acquisition of a property leased to Australia’s biggest fruit and vegetable processing group.

The state government’s stimulus package is much smaller as a portion of the economy than the federal government’s injections, opposition leader Liza Harvey said today, but Treasurer Ben Wyatt has bit back against her claim the government is hoarding a surplus.

Lendlease aims to raise about $1.15 billion to guard against market uncertainty brought about by the coronavirus outbreak and has withdrawn all forecasts provided with its first-half results.

Perth-based IT services provider Empired has secured two contracts with Western Power to provide a range of digital services for at least five years.

Real estate agents and new homebuilders have roundly welcomed the lifting of restrictions that shut display villages and prevented home opens, with the shift expected to help the sector rebound from record low transaction levels.

Gold junior De Grey Mining is raising $31.2 million from a share placement to continue exploring its Mallina project in the Pilbara, with a focus on the recently announced Hemi discovery.

Westpac has announced it will take a $2.24 billion pre-tax first-half impairment charge, mostly because it expects some of its loan customers won't survive the coronavirus crisis.

Wesfarmers has accelerated a review into its underperforming Target business as coronavirus lockdown measures hammer sales and spell a likely earnings decline.

A Perth clinical research company wants healthy adults and elderly volunteers to participate in one of the world's first human coronavirus vaccine trials.

The Australian share market has had a sluggish start, with shares in two of the major banks seeing a marked difference in fortunes.

BHP project could pump millions into economy

Brent crude fell below $US20 a barrel and US crude plunged 25 per cent, driven lower by skittish investors fleeing the US benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand.

Gold fell on Monday as US Treasury yields rose and plans by many countries to ease coronavirus-induced lockdowns whetted investor appetite for riskier assets, but unprecedented stimulus measures from governments provided underlying support.

Two consortia, led by major contractors Laing O'Rourke and CPB Contractors, have been shortlisted to build the Morley-Ellenbrook Line, but the decision has sparked competing claims about the opport

Mustera Property Group has been given the green light to proceed on its Forbes Residences proposal in Applecross, following two rejected development applications and a revision from 20 storeys down to 13.

Energy and materials stocks have helped the Australian share market to its first winning day this week.

The state has recorded one coronavirus death and two infections overnight. Roger Cook has urged Western Australians to only leave home for essential purposes. Scott Morrison says social distancing measures will not apply in classrooms.

The State School Teachers’ Union of WA is encouraging parents to keep students home where possible, highlighting increasing divisions over the state government’s plans to recommence face-to-face learning next week.

Mineral Resources today said COVID-19 has had minimal impact on its mining operations but has downgraded its forecast iron ore shipments for the full financial year, due to weather conditions having affected its Koolyanobbing operations.

PODCAST: Mark Pownall and Mark Beyer discuss markets impact, local virus update, economic challenges, state relief for landlords and apprentices, Raleigh Finlayson, Patricia Kailis, major property deals, our special reports on agribusiness and medical technology.

Shares in a West Perth-based oil producer with operations in Kazakhstan have increased 70-fold this week, despite the company shutting down production and the collapse in global oil markets, leading to an ASX intervention.