Financial Services

Demand for home loans in Western Australia has fallen 4.5 per cent in August as first home buyers retreat from the market, new figures show.

The corporate watchdog says it will start civil proceedings against a Perth financial advisory firm after clients invested $14 million into the failed Westpoint Group.

Nedlands-based explorer Integra Mining has confirmed it has raised $40 million, which will partly be used for the development of its Randalls gold project in the Goldfields.

Perth-based Amcom Telecommunications will receive a $21 million boost after revealing plans to clean up its capital structure.

IT services provider Empired will build on its presence in Victoria after securing a $3 million contract with the state government's Department of Education and Early Childhood Development for infrastructure outsourcing services.

Lithium producer Galaxy Resources gained as much as 16 per cent in trading this morning after announcing the completion of a $65 million institutional capital raising to be used on its Mt Cattlin mine at Ravensthorpe and a Chinese lithium project.

Western Australia is likely to be one of the few developed economies in the world to avoid a recession during the global economic slowdown, the Chamber of Commerce and Industry WA said today in its quarterly economic snapshot.

Budget cuts cost 471 jobs at RPH; Perth high on list of powerful; Rates move sends wrong sign; Extra malt elevates GrainCorp; ConsMin misled exchange on Mindy Mindy, tribunal told

The Reserve Bank of Australia's decision to lift the official cash rate has caused surprise and dismay from various lobby groups, with one from WA saying the central bank has acted too hastily.

Perth man Graeme Rundle has been charged by the corporate watchdog over his role as the chief financial controller in the failed Westpoint Group.

Australia has become the first western economy in the world to lift interest rates with the Reserve Bank of Australia today increasing the official cash rate by 25 basis points.

West Perth-based Emergent Resources will pay up to $6.8 million to De Grey Mining to acquire the remaining 20 per cent interest it does not own in the Beyondie magnetite iron project in the Mid West.

Territory Resources has executed an agreement with its financiers, hedge book facility provider and major shareholder Noble Resources for the transfer of the company's bank debt to Noble.

High stakes in iiNet piracy court battle; Broker demand puts Myer float on track; Telstra plan under fire; Job ads jump shortens chance of rate increase; Vmoto corners rest of China factory stake

Australia's job market has continued to strengthen despite talk of an interest rate rise, with 14 per cent of companies expecting to increase employee numbers in the December quarter, according to the latest Dun & Bradstreet's Business Expectations survey

Iron ore junior Australasian Resources is awaiting ministerial conditions to progress its Balmoral South iron ore development following the release of the Environmental Protection Authority's report on the project.

West Perth-based Northern Uranium has entered into an agreement to combine and advance its rock phosphate projects with Korean-based FSL Resources.

Perth-based Newland Resources has unveiled a "revitalisation" plan that includes three new major investors including Argonaut and Craig Burton, and a refocus on acquiring resource projects.

Heron Resources says the first tranche of a project joint venture deal with Ningbo Shanshan has been completed, with the Chinese entity injecting $2.7 million into the West Perth-based explorer.

Scooter maker Vmoto has consolidated ownership of its Chinese manufacturing facility, buying out the remaining minority stake it did not own for $US1.3 million ($A1.5 million) and revealing plans for a $3.5 million capital raising.

The federal government has allocated $5.5 million to Western Australia for the restoration and conservation of some of the state's heritage places, including the main cell block within the Fremantle Prison.

Troy Resources chairman John Dow has fired the side's first shot at dissident shareholder, former chairman John Jones, who is trying to stop a dilutive capital raising.

Perth-based Global Construction Services has teamed up with private company Giovenco Industrial Services to provide scaffolding and related services to Woodside's Pluto gas project.

Takeover target Polaris Metals says there could be another takeover offer in the wings as first bidder Minerals Resources lifts its interest to 22.3 per cent.

China manufacturing on road to recovery; ATO ramps up audits of wealthy; PearlStreet board rejects competing higher offer; IMF says Australia on way to recovery; Macquarie on buying spree

Timber company Gunns has put itself into the bidder's circle for Great Southern's assets, a day after it lost its bid for Timbercorp's forestry assets to a US-based company.

Westralia Airports Corporation, the owner of Perth Airport, has secured $882 million in debt and equity to refinance existing bank facilities and fund expansion plans.

Jameson Resources will divest its Ora Banda gold assets near Kalgoorlie to Subiaco-based Winchester Resources, which is planning a $2 million initial public offer.

Less than four months after dropping a takeover proposal for Buru Energy, director Eric Streitberg is set to take the helm of the company as former Western Australian minister Peter Jones joins the board.

Takeover target PearlStreet has rejected a proposed $42.1 million cash takeover bid by Campbell Brothers, which was conditional on a recommendation from the target's board.

The global economic downturn coupled with two major acquisitions has pushed the bottom line of Patersons Securities into the red, with the Perth stockbroking firm recording a net loss of $389,238 for the 2009 financial year.

IMF warns on borrowing risk; Timbercorp's assets sold; Watchdog may nip NAB; Labor plans big projects overhaul; WA sees big influx of foreign businesses