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Up to 1.2m public staff could work from home

Oil prices fell below $US30 a barrel overnight as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.

Platinum plunged nearly 27 per cent overnight to its weakest level since 2002, while gold dived over five per cent as investors unloaded precious metals in exchange for cash after a second emergency US rate cut failed to quell coronavirus fears across markets.

Concerns over COVID-19 have led to the cancellation or postponement of more events in the state, including Australia’s largest annual mining conference Diggers & Dealers, along with the Anzac Day services. The virus has also led to more businesses changing their working arrangements.

Australia's share market has suffered its worst points loss in history as the coronavirus epidemic worsens, with another $182 billion in value wiped from the books.

Business News has one aim, to provide Western Australians with vital intelligence.

A freeze on household bills, a slight rise of the payroll tax threshold and small businesses grants will form part of a $607 million state government stimulus package, while the Commonwealth and the Reserve Bank are considering further steps.

Russia-based Nordgold is looking to expand its operations in Africa by making a takeover bid for Cardinal Resources after increasing its stake in the West Perth-based company to nearly 20 per cent.

Chinese consul general Dong Zhihua is confident international trade won’t suffer long-term disruption from the COVID-19 pandemic, and is pitching for local businesses to come to a trade fair in November.

SPECIAL REPORT: Flashpoints over increased density are reaching the urban fringe, with local community groups in outer suburbs resisting change as much as their inner-city counterparts.

SPECIAL REPORT: Resources-related investment is helping Perth’s industrial land sector bounce back from a five-year downturn in investment.

SPECIAL REPORT: WA’s residential land developers are cautiously positive the market is rebounding, but likely economic disruption from the COVID-19 pandemic could press pause on the recovery.

Horizon Minerals has executed a $4 million loan facility with a German investment group, while also announcing a share placement to raise $2 million to fund the development of its Boorara gold project in Western Australia.

SRG Global has secured a five-year contract with Saracen Mineral Holdings to provide drill and blast services at the Thunderbox and Carosue Dam operations in Western Australia.

Leederville-based jeweller Rohan Milne is championing affordability, accessibility and availability with his latest venture.

The Reserve Bank of Australia has pumped extra liquidity into the banking system, part of a package of measures aimed at ensuring business and households have access to credit as the coronavirus causes chaos in global financial markets.

Western Australian schools will introduce new precautionary measures, including cancelling assemblies and staggering recess and lunch breaks, to slow the spread of the coronavirus.

Infrastructure group Downer EDI's possible sale of its mining business to Perenti Global has been suspended due to the market volatility caused by the coronavirus pandemic.

Australia's volatile share market has plunged more than six per cent after sentiment for equities suddenly soured despite rate cuts from the Federal Reserve and other central banks.

Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.

Gold tumbled as much as 4.5 per cent on Friday as investors embarked on a selling spree to hoard cash and meet margin calls across other markets which have been battered by the impact of the coronavirus outbreak.

Decmil plays the blame game with NZ Corrections

PODCAST: Mark Pownall and Mark Beyer discuss market volatility and the coronavirus, stimulus package, Liza Harvey, private equity deals, our special report on Land Developers and Great for the State looks at how we can help those who are missing out on WA's good fortune.

Fans will be unable to attend the NBL grand final series, including tonight’s match between the Perth Wildcats and Sydney Kings, or AFL games after both sporting codes responded to Prime Minister Scott Morrison's announcement that mass gatherings of 500 plus people should not proceed.

The Australian share market has staged a dramatic recovery from its morning losses of as much as 8.1 per cent to finish 4.4 per cent higher.

Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.

West Leederville-based medtech startup Singular Health will raise $1 million ahead of a planned IPO in September, with PAC Partners appointed lead manager for the listing.

Santos has already offloaded a portion of the Darwin LNG operation for $US390 million ($620 million) to South Korean SK E&S, in line with plans flagged during an acquisition of ConocoPhillips’ northern Australian assets in October.

The federal government today announced significant investments in the energy sector, with the awarding of $69.5 million to two new cooperative research centres, and the launch of the Future Battery Industries Cooperative Research Centre.

The federal government will be advising against mass gatherings of more than 500 people from Monday, Prime Minister Scott Morrison said today, in response to the growing coronavirus threat.

Perth-based contractor Decmil has disclosed it will make a provision of between $50 million and $60 million to cover money that is unpaid under its terminated contract with New Zealand’s corrections department, resulting in a loss for the half-year to December 2019.

Emerald Resources has moved closer to developing its Okvau gold project in Cambodia after signing a $US230 million ($A365 million) mining contract with MACA.