The state government’s most accomplished minister is planning to retire at next year’s state election, dealing a blow to premier Mark McGowan, with a handful of current ministers seen as potential successors should Labor be re-elected.
Oil prices has slumped by nearly 4.0 per cent as the rapid spread of the coronavirus outbreak in countries outside China added to investor concerns over the effect on demand for crude.
Gold has soared as much as 2.8 per cent on Monday to its highest level in seven years, as investors worried about global economic growth in the face of sharply rising coronavirus cases outside China.
The Australian share market has suffered losses across the board, with $60 billion in value wiped out in the local bourse's worst day in six months. Energy stocks were hardest hit, as concerns grow over coronavirus, while gold was one of the few positive sectors.
WBHO Infrastructure has been awarded a $43.3 million sub-contract from Perth-based engineering firm Mondium for works at Rio Tinto’s Western Turner Syncline Phase 2 mine site.
Shares in mining contractor Macmahon Holdings have touched a new high for the year after the company reported a strong interim profit and upwardly revised its revenue and earnings guidance for the full financial year.
A 34 per cent lift in first-half profit at MMA Offshore shows an improving environment for offshore service providers, with the company having won work with Woodside and Esso.
Gold explorer Apollo Consolidated is raising $10 million through a share placement to advance drilling activities at its flagship Lake Rebecca project in Western Australia.
Australia's four major airports achieved record profit in the past financial year, according to the ACCC, with Perth Airport touting its high passenger satisfaction relative to its counterparts on the east coast.
Junior gold explorer Alto Metals has received an off-market takeover bid from Chinese-owned Goldsea Australia Mining in an all-cash deal worth $20.7 million.
Energy, chemicals and resources company Worley has posted a 40 per cent jump in interim net profit to $115 million thanks to improved market conditions and the benefits of its Jacobs Engineering division buy, while at the same appointing Andrew Liveris as its deputy chairman.
Australian stocks have plummeted after offshore markets fell on fears the coronavirus outbreak is spreading across Asia and will increasingly affect global economic activity.
Oil prices fell about one per cent on Friday on renewed concerns about crude demand being pinched by the economic impact of the coronavirus outbreak, while OPEC and allied producers appeared to be in no rush to curb output.
Gold has jumped more than 1.5 per cent to its highest level in seven years as investors rushed to the metal's safety due to concerns over global economic fallout from the fast-spreading coronavirus.
The ASX has launched a technology index with 46 constituent companies and while several, such as Nearmap and ResApp Health, have a WA connection, none are based in Perth.
The Australian share market has finished lower for the first time since Tuesday, with every sector down except financials after the two days of gains sent it into record territory.
Australian Finance Group has reported a 20 per cent rise in first-half net profit to $17.7 million, sending its shares 10 per cent higher at the market close today.
PODCAST: Mark Beyer and Mark Pownall discuss $A slide, footy club financials, new tech index, iron ore profits, Iluka spinout, mineral sands, property recovery, and our special report on women in business.
Potential partners are lining up to get involved with the Australian Biome Project, as the team behind the $550 million tourism development seeks $6.5 million to conduct a full feasibility study and advance the proposal to its next stage of development.
Yara Pilbara and Engie have received a $1 million boost for a planned renewable hydrogen project from the Australian Renewable Energy Agency, but Western Australia will not be involved in the establishment of a new Australian Hydrogen Centre.
Galaxy Resources has disclosed a $US284 million ($A430 million) loss for the 2019 financial year, driven by lower lithium prices and non-cash write-downs and impairment at its Mt Cattlin mine near Ravensthorpe.
Fashion accessory chain Colette by Colette Hayman will close five of its stores in Western Australia, including both stores in the CBD, after the struggling retailer was placed into voluntary administration earlier this month.
Former Downer executive Mike Sutton has been appointed as MACA chief executive after Chris Tuckwell announced he would be stepping down from the role, following an 11-year stint. MACA has also appointed Chris Sutherland to its board as a non-executive director.
