The Reserve Bank of Australia has cut the cash rate to a new record low of 0.75 per cent, with the board prepared to go even lower if the nation's economy does not respond.
GR Engineering has emerged from an ASX suspension today to disclose that its bottom line will likely be impacted by two major subsidiaries of its client Northern Oil & Gas Australia going into administration last month.
The median price of a house in Perth recorded the largest decline among all state capitals for September, with the slump over the past five years now surpassing 20 per cent, according to the latest CoreLogic data.
Former Buru Energy managing director Keiran Wulff will replace outgoing Oil Search managing director Peter Botten, with the long-serving leader to hand over the reins in February.
Phylogica has announced a commercial collaboration with Lions Eye Institute trading under the name Vision Pharma, bringing the biotechnology company a step closer to commercialising its drug delivery technology.
Iconic Aussie sportswear brand Rip Curl has agreed to be acquired by Kathmandu in a $350 million deal that will create a $1 billion Australasian surfing and outdoor adventure company.
Oil prices fell overnight on fading concerns of supply shortfalls and conflicts in the Middle East as global benchmark Brent posted its biggest quarterly loss this year on demand fears due to the escalating US-China trade conflict.
Platinum plunged more than 5.0 per cent and gold shed 2.0 per cent overnight, leading a sharp decline across precious metals driven by a soaring US dollar, with deficit-hit palladium too giving up some gains from a record rally in which it breached $US1,700 per ounce.
Eddy Haegel has made a career breathing new life into struggling assets at BHP, including the revival of the mining giant’s nickel business; sharing his story at a Business News breakfast today, he was also bullish about the potential to develop more downstream processing of battery minerals in WA.
Kalgoorlie-based contractor MLG has recruited a high-profile finance executive as it moves closer to joining fellow mining services companies Mader Group and DDH1 Drilling in a stockmarket listing.
A $2.4 billion surge in revenue above forecast levels helped the state government record a $1.3 billion operating surplus in the year to June, but the overall cash position of the budget is still in a deficit of $924 million.
Hartleys has reported a big drop in annual revenue and net profit, making it the third major stockbroking firm in Perth to have its results hit by the sharp decline in corporate finance activity over the past year.
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Blackburne has added to its upcoming project pipeline in Perth’s blue-chip suburbs, after acquiring a prominent site on Stirling Highway from aged care provider Amana Living.
Primewest has expanded its US presence to more than $100 million worth of assets, acquiring a $13 million office building in San Diego as the developer and funds manager moves closer to its listing on the Australian Securities Exchange.
Perth-based health insurer HBF has posted a 53 per cent rise in its net surplus to $93.7 million, while profit at the state government-owned Insurance Commission of WA fell 27 per cent to $203.5 million, despite an improved return on its investments.
Oil slid overnight as new details connected to the impeachment inquiry into US President Donald Trump weakened demand sentiment while moves to quickly restore Saudi output after attacks on its oil infrastructure promised more oil supply.
Gold prices rose overnight after a nearly 2.0 per cent slide in the previous session triggered buying interest for the safe-haven metal, although a strengthening US dollar capped gains.
Industry bodies are divided over a plan to increase regulation of short-stay accommodation providers such as Airbnb, with Tourism Council WA and the Australian Hotels Association among supporters of the proposed rules.
