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The majority of UGL's directors are recommending the engineering group's shareholders accept Spanish-controlled construction giant CIMIC Group's $524 million takeover bid.

Westpac shares jumped after the bank reported a flat full-year cash profit of $7.82 billion.

The Australian share market has opened more than half a per cent higher.

Oil futures have fallen by their biggest weekly percentage decline since January of around nine per cent as signs of tensions resurface between Saudi Arabia and Iran that could scupper a key supply cut pact.

The Australian dollar has slightly strengthened against its US counterpart, despite a steady US jobs report that has reinforced the likelihood of a Federal Reserve rate rise.

Gold has steadied, heading for its biggest weekly rise since mid-September as jitters over next week's US election offset a solid payrolls report that shored up expectations for a US interest rate rise in December.

Stamp duty, land tax idea still onFederal Treasurer Scott Morrison continues to support the states swapping stamp duties for a land tax on every residential property but i

In this Business News podcast, Mark Pownall, Mark Beyer and Dan Wilkie discuss innovation strategy, Wheatstone, Pilbara mining, Sam Walsh and commercial property.

The state government is putting the finishing touches on the business case for a second floating dock at the Australian Marine Complex at Henderson, which it plans to pitch to the federal government to cement the complex’s place as one of the nation’s two shipbuilding hubs.

A joint venture comprising Henderson-based contractor Civmec and international engineering firm Black & Veatch has been selected as preferred proponent for a $196 million wastewater project south of Perth.

Mitch Marsh's spot in the Test squad is hanging by a thread following his latest failure with the bat, as Australia was all out for 244 by 3pm.

Mining explosives maker Orica has flagged a cautious outlook for the 2017 financial year despite swinging to a full-year profit on the back of sharp spending cuts and improving commodities prices.

Big falls across the financial and energy sectors pushed the share market to its lowest level in more than four months, amid mounting uncertainty of the outcome of next week's US presidential election.

A neuroscience-focused business that has been backed by the Perth-based Trevisan family has made a solid debut on the ASX after completing a $7 million initial public offering led by Azure Capital.

The Nationals’ proposed iron ore charge is part of a larger strategy to lure voters from its rivals at the March election.

In May 2015, mining executive Julie Shuttleworth had to deal with two major developments in her life. She had just started as general manager of Fortescue Metals Group’s Solomon mine when she found she was pregnant with her first child.

Oil and gas explorer Xstate Resources has entered into an agreement to acquire a 24.5 per cent stake in a producing onshore oil field in California for $US13 million ($A17 million).

Failed fertiliser supplier Superfert Dongbu has gone into liquidation, 18 months after it had been put into voluntary administration.

Perth gold miner Saracen Mineral Holdings has locked in a financing facility of up to $150 million with a banking syndicate, replacing a previous loan deal that expired in September.

The founder and chairman of Fortescue Metals Group has reaffirmed his commitment to the iron ore industry by increasing his stake in the business, buying $6.9 million worth of shares in an on-market trade.

New car sales crashed in Western Australia last month, adding to a year of poor performance in the industry.

Feedmee is a food discovery app, the ‘Tinder for food’. Users swipe through photos of food until they find what they want.

Australian shares have opened lower following weak leads from overseas, with financial and energy stocks pulling the market into the red.

The S&P 500 fell for an eighth straight session on Thursday, its longest losing streak since the 2008 financial crisis, as Facebook shares weighed and investors grappled with uncertainty over next week's US presidential election.

The Australian dollar has strengthened further against its US counterpart, helped by increased commodity prices.

Oil prices have settled more than one per cent lower as investors reeled from a record weekly surge in US crude inventories, and remained sceptical about whether OPEC can actually implement its planned output cap.

Gold has edged higher in response to a lower US dollar and also uncertainty about the outcome of a tight US presidential race.

ANZ shrinks to reduce rising risksANZ Banking Group has shed 3600 jobs and chief executive Shayne Elliott is pulling back on mortgage lending fearing any

Water Corporation chief executive Sue Murphy and technology entrepreneur Anthony Grist have been appointed to the board of the Fremantle Football Club.

East Perth may miss out on an expected economic boost from the opening of Perth Stadium.

Australian spearhead Mitchell Starc sizzled, while the Marsh brothers snaffled spectacular catches, as South Africa reached 7-176 at tea on day one of the first Test at the WACA.

The possibility of Donald Trump winning the US presidency continues to unnerve investors but bargain-hunters pushed the Australian market to a flat close after a poor start on Thursday.