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Oil prices fell 3 per cent on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting.

Gold prices rose overnight as concerns of a slowdown in global growth due to a virus outbreak in China weakened risk appetite among investors.

Design agency HASSELL has been selected to develop a master plan for the 56-hectare Burswood Park on the Swan River foreshore.

Australian stocks have closed lower as gains by financial and consumer staples sectors failed to offset losses among resources and health care shares.

Saracen Mineral Holdings has sold its 10.5 per cent interest in Red 5 for $39 million, completed through a book build process at 30 cents per share prior to the ASX market open today.

Shares in Panoramic Resources have plunged by more than 33 per cent, falling to their lowest price since 2016, after the company downgraded production guidance for the underground Savannah mine in the Kimberley.

Construction has commenced on the Bushfire Centre of Excellence based at Nambeelup near Mandurah, with Perkins Builders contracted to deliver the site’s $18 million build.

Primewest is spinning out five of its office assets in Perth and Brisbane into a new publicly listed fund, with the new trust’s portfolio valued at around $285 million.

The City of Perth will hold elections on October 17, Local Government Minister David Templeman announced today, following the council’s dissolution.

Fortescue Metals Group is anticipating iron ore exports to be at the upper end of guidance after posting record shipments for the first half of 2020, while also announcing plans to spend $US450 million ($A668 million) on a solar-gas power facility.

United Way WA, Barking Gecko Theatre and Co3 Australia are among the beneficiaries of $2.1 million of donations from Healthway and Lotterywest to aid companies in executing public health and wellbeing programs.

Gold Road Resources shares rose by more than 11 per cent today after the company announced higher than expected cash generation from its Gruyere gold mine in Western Australia.

The renewal of four major contracts with Fortescue Metals Group and Rio Tinto has maintained Sodexo’s status as the largest operator in the state’s facilities management sector.

Insurance giant Suncorp Group expects the cost of three natural hazards in its second half to be capped at $300 million.

Nearmap shares sunk nearly 30 per cent after the aerial mapping company issued an earnings warning, saying it had lost two major clients in North America as mapping for the driverless car industry stalled.

Australian stocks remained in the doldrums at noon as gains in big banks and consumer staples failed to offset losses among resources and healthcare shares.

Huawei's bid to end 5G ban

Oil prices were mixed overnight as worries about the coronavirus outbreak and swelling US crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.

Gold gained overnight as worries over economic growth due to the fast-spreading coronavirus buoyed safe haven demand, with investors awaiting the US federal Reserve's monetary policy decision.

BetterLabs Ventures, RAC’s early stage seed fund, has become WA’s largest venture capital fund with the announcement last night it had expanded to $23 million.

SPECIAL REPORT: Bushfires on Australia’s east coast will put pressure on emissions policy at a time when decisions are being made on major projects needed to boost the economy in the west.

Northern Star Resources said it was on track to meet production guidance of around 1 million ounces of gold this year, helped by its recent acquisition of a 50 per cent stake in the Kalgoorlie Super Pit and strong performance across its Australian operations, but also disclosed today an increase in its operating costs.

SPECIAL REPORT: A hiatus in the US-China trade war and an improved economic outlook gives WA leaders an opportunity to look at longer-term challenges such as climate change and technological disruption.

The state government is expecting keen competition from developers for a pair of prime development sites in Fremantle and Scarborough released to market this week.

Rio Tinto has scrapped a practice that allowed it to discount payments to small business suppliers, two weeks after the state government forced the Water Corporation to make a similar change.

Australian shares have rebounded as global markets recovered from a sell-off sparked by concerns over the deadly coronavirus outbreak.

An industrial property in Malaga has sold for $7.5 million, while a bulky goods property tenanted by furniture retailer Early Settler and homewares shop Adairs has been sold to a local investor for $6.7 million.

Euroz has reported an unaudited net profit of $8.5 million for the half year to December 2019, reflecting a strong performance by most of its funds management subsidiaries and a solid result from i

Edith Cowan University is aiming to capitalise on its existing cyber security expertise with the opening of a new $3 million security operations centre, the largest in the Southern Hemisphere.

Rio Tinto has confirmed it will proceed with the next phase of its exploration joint venture at the Citadel copper-gold project, located in the Pilbara's Paterson province, but has extended the time it has to spend $14 million from three years to five years.

Emeco Holdings has expanded its service offering after signing a $72 million agreement to acquire Australian underground mining equipment and services provider, Pit N Portal.

Lea Cairns says Western Australian schools need to implement playful ways for children to engage in technological learning, as students confront a job market increasingly in demand for graduates with STEM knowledge and skills.