Gold has risen to a three-month high in volatile trade, as a mixed US jobs report prompted investors to reassess the outlook for US interest rates in 2016, putting bullion on track for its strongest weekly performance in more than a year.
This week we discuss the state of the markets, further resources shakeouts, home prices, a new hotel for Perth, office vacancies and we look at ports and transport.
Perth-based regenerative medicine company Avita Medical says it will be able to focus more on its core ReCell technology after completing the sale of its respiratory business for $2.47 million.
The Australian share market finished the trading day slightly lower, as falls in financial and retail stocks were partly offset by gains by the big miners.
Transport and logistics business McAleese Group has flagged an impairment of up to $55 million in its half-year accounts, while remaining quiet on speculation of a recapitalisation plan.
Property developer Diploma Group has been selected to build the new Quest Hotel Midland and the Yanchep Surf Life Saving Club, with the two contracts worth a combined $22 million.
Local vendors of The Big Issue showed prominent Perth business leaders and politicians what it’s like to sell the street magazine today as part of a campaign to increase awareness of the everyday challenges facing the homeless and disadvantaged.
Mining giant BHP Billiton can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard and Poor's says.
The rollout of Australia's new superfast broadband network NBN is gaining traction as the company in charge of building and operating the service delivers strong results.
The long-running takeover battle for Australian ports and rail operator Asciano will continue after the competition watchdog delayed its decision on the rival bids.
A jump in materials shares have helped US stocks eke out a second straight day of gains, though disappointing forecasts from retailers and anxiety ahead of Friday's jobs report limited the advance.
Gold has risen for a second day, hitting three-month highs as the US dollar continued to ease amid mounting doubts that the US Federal Reserve will raise interest rates in 2016 due to global economic and financial headwinds.
Local explorer Northern Minerals plans to build a test pilot plant at its Browns Range project near Halls Creek at a cost of about $US18 million ($A25 million), rather than proceeding with full-scale development in light of the depressed rare earths market.
The Australian share market has closed around 2 per cent higher in the wake of a strong rise in oil prices and the hope that weak US economic data will slow the pace of interest rate hikes in the US.
Macquarie Group remains on track for a record full-year profit of more than $2 billion, though it says volatile market conditions make forecasting difficult.
reiwa.com property sales data for the overall market for the week ending February 2 totalled 723, which represents a 36 per cent increase in total sales over the week.
Engineering and contracting group Downer EDI has trimmed its full-year profit guidance after posting a nearly 24 per cent drop in first-half profit, with one of the few positives being increased work on oil and gas projects in Western Australia.
Soon-to-be renamed Malagasy Minerals has welcomed Regis Resources as a substantial shareholder as the company completes its acquisition of the Karlawinda gold project near Newman, while also announcing the appointment of local gold mining executives to its board.
The receiver restructuring Dick Smith with a view to selling the troubled electrical retailer says the company has been underpaying workers for as long as six years.
Programmed Maintenance Services has flagged a $75 million impairment resulting from poor performance in its marine services division, but expects to lift earnings to over $100 million by FY17 as it benefits from growth in other sectors of the economy.
BHP Billiton spin-off South32 will slash 620 jobs in Africa and has warned of widespread job losses in Australia after revising down its commodity price forecasts.
Deals and capital raisings in the mining and metals sector fell in 2015, according to EY, although asset sales from distressed parties coming onto the market could lead to an uptick in volumes in the year ahead.
