The $10.4bn giveaway; Europe unites in $2.8 trillion shock and awe blitz on cash crisis; Base metals bounce as bailouts inject new hope; Credit crunch crimps broadband plan; Top lender falls into line with rates cut
Shares in Wesfarmers Ltd surged as much as 10 per cent today as the company assured investors it was confident it would be able to repay $1.26 billion worth of debt due in less than a year.
The Australian bourse has clocked up its best two-day gain in over 33 years after the market closed four per cent higher, following the biggest point gain ever on Wall Street and news of the federal government's $10.4 billion economic stimulus package.
The cost for Moly Mines Ltd's Spinifex project in the Pilbara has risen from $1.1 billion to $1.26 billion following the inclusion of costs for a power station after a deal with an infrastructure company fell through.
Investors have slashed the share price of Perth-based Avanco Resources Ltd after it came out of a three-month trading halt on news that it plans to raise over $2 million.
Perth-based explorer Arafura Resources Ltd has accepted a $20 million loan from US-based investment fund YA Global Investments for the progression of the feasibility study into its Nolans rare earth-phosphate project.
The sale of BankWest to the Commonwealth Bank of Australia is not expected to be impacted by the bailout of embattled parent company HBOS plc, which has accepted a $22 billion rescue package from the UK government.
The corporate watchdog has started legal proceedings against accounting firm KPMG over its role in the collapsed Westpoint Group, where alleged negligent auditing claims are in the order of $200 million.
Shares in West Perth-based Bass Metals Ltd have jumped 45 per cent on news of record sales from the company's Que River mine and a $3 million cash injection.
Shares in West Perth-based Altera Resources Ltd have been placed into a trading halt, pending the announcement relating to its $13 million acquisition of an underground coal gasification firm.
Fortescue Metals Group Ltd has appointed former Cape Lambert Iron Ore Ltd chairman Ian Burston and former Oxiana chief executive Owen Hegarty to its board.
Banks anchored against storm; Resources slump blow to earnings; Rio lawyers threaten striking drivers; Fortescue eyes new port with mining giant's rail; Westoz sells 6.9pc into Cooper bid
The numerous assurances that Australia is well-placed to ride out the financial storm have not stopped panicky investors from fleeing the market, with the benchmark indices hemorrhaging over 15 per cent in the past week alone.
The stock market carnage over the past year has seen the value of Western Australia's blue chip stocks cut by half from their peak value while other stocks have been smashed to as little as 10 per cent of their top price.
Perth-based Noah Resources NL will undergo a transformation following the approval of its acquisition of Namibian Copper Pty Ltd, and expects to re-list on the local stock market by the end of the month.
Acceptances for Cooper Energy Ltd's takeover offer for Incremental Petroleum Ltd have jumped nearly 10 per cent, after the takeover target formally rejected the offer earlier this week.
Takeover target Perilya Ltd said it is open to CBH Resources Ltd's bid for the company, but advises a merger at a time of market volatility could expose shareholders to additional risks.
Perth-based Incremental Petroleum Ltd today dismissed suggestions by Cooper Energy Ltd that it has insufficient cash to fund its growth strategy as "scare mongering".
Perth-based Resolute Mining Ltd has unveiled an ambitious $51 million capital raising with funds to go towards the continued re-development of its African gold project which is expected to begin production this month.
Some good and bad news for home buyers with one research firm saying the property cycle looks to have bottomed out while a survey from another says trading conditions are likely to deteriorate over the next six months.
Cape Lambert Iron Ore Ltd has offered a board position to disgruntled shareholder Power United as the dispute, which involved court injunctions, is settled.
West Perth-based Royal Resources Ltd will sell its Pilbara iron ore project to its neighbour Giralia Resources Ltd for $3.2 million in cash and shares.
Perth-based agricultural investment manager Great Southern Ltd has unveiled its revised restructure plans after a falling share price forced it to go back to the drawing board.
A one-off expense associated with the takeover of Western Australia-based Home Building Society has slightly dented Bank of Queensland's net profit, which slipped 2 per cent for the 2008 fiscal year.
South-Perth based Cooper Energy Ltd chairman Laurie Shervington today said KPMG's valuation of its hostile takeover target Incremental Petroleum Ltd was out with the fairies.
The global financial turmoil appears to have hit the once impervious iron ore market after Mount Gibson Iron Ltd said some of its customers wanted shipments delayed, but other producers remain positive about the outlook.
DURING the past three years, the influx of cranes into the Perth CBD has provided a strong visual reminder of the strength of Western Australia's economy and the buoyancy in the property sector.
THE market capitalisation of Western Australian listed companies crashed to a 20-month low during September, falling 21 per cent to $127 billion, according to the Deloitte WA Index.
