Latest Headlines

Origin Energy says it had to act after agreeing to fork out up to $US800 million ($A865.57 million) for a stake in a new gas project off the Western Australian coast.

Oil prices have finished lower on mixed economic data and signs of higher crude output from members of the Organisation of Petroleum Exporting Countries (OPEC).

The Dow and S&P 500 again rose to new records following a solid report on US manufacturing activity, even as the Nasdaq lost ground.

Global Construction Services has forecast a big fall in full-year earnings amid challenging market conditions and continued delays to major projects.

Information technology group Titan ICT Consultants has been signed up by the Public Transport Authority to provide service desk and support services for Perth’s passenger rail network.

Australian shares have lost ground as weak iron ore prices weighed on the market.

In this week's edition of Business News Background, head of content Mark Pownall and news editor Mark Beyer discuss the week’s top news, including FMG’s call for gas market reform, new hotel projects in East Perth and Fremantle, the launch of our Giving Well philanthropy guide, and our annual listing of the Most Influential people in business and politics in Western Australia.

Does it make sense for a gas producer to retain title over a gas field for 27 years without proceeding with development?

The big growth in WA’s iron ore industry means it accounts for more than half of all jobs in the state’s mining sector.

The slump in the price of iron-ore to near 20-month lows has failed to halt the development of assets in Australia and overseas, despite ongoing cost cutting across the sector.

Collapsed engineering firm Forge Group’s old premises in West Perth have firmed as a likely landing spot for automotive parts buying group Capricorn Society, which is looking to consolidate its office requirements into one location.

Nickel miner Western Areas plans to expand its operations and pay down debt as higher nickel prices make marginal projects more viable.

Rare earths miner Lynas Corporation has raised about $40 million minus costs through a heavily discounted share purchase plan and placement.

Former Leighton Holdings chief executive Wal King has been appointed deputy chairman of Africa-focused iron ore hopeful Sundance Resources.

Canada-focused explorer Coalspur Mines says it stands little chance of developing its flagship Vista thermal coal project in the near-term as tough equity market conditions threaten the company's ongoing viability.

Atlas Iron managing director Ken Brinsden has called on opposition leader Bill Shorten to come up with an alternative to the Mineral Resources Rent Tax if Labor continued to block its repeal.

Perth drilling company Enerdrill has been selected to provide drilling rig services to AWE and Titan Energy’s Perth Basin exploration permit for an undisclosed amount.

Property developer Australand has upgraded its full-year earnings guidance while signalling a fresh willingness to consider a sweetened $2.5 billion takeover bid from rival Stockland.

Foreign Minister Julie Bishop has warned that Australia must not fall into a trap of thinking that it can only benefit from a guaranteed peaceful rise of China as the world's largest economy and a superpower.

The Australian share market has opened slightly lower as weak iron-ore prices and concerns China's softening economy overshadows Wall Street's new highs.

Drought-hit farmers will start receiving funds from a $280 million pool set up by the federal government to provide cheap loans as soon as next week.

Spot gold fell to a near four-month low Thursday in subdued European trading hours.

The Australian dollar hit an almost two week high after official data showed business investment intentions for the coming financial year are getting stronger.

The problems keep mounting for federal Labor in WA, with former colleagues speaking out against each other in a very public stoush.

The battle between two giant meat processors over hot dog maker Hillshire Brands has helped boost Wall Street, lifting the S&P 500 to a new record.

Fortescue Metals Group has called for the phasing out of the state government’s contentious domestic gas reservation policy, which has traditionally been backed by big gas buyers, in favour of stricter application of the ‘use it or lose it’ rules.

Property developer Match Group's funds management arm has launched a pair of syndicates to acquire and develop two sites in Leederville and Mount Lawley.

Eagle Boys Pizza says it plans to rebuild its network of Western Australian stores after closing a number of underperforming sites in recent years.

Perth-based biotech firm Orthocell has confirmed it intends to list on the ASX after outlining plans for an $8 million initial public offering.

The Australian share market has closed lower as falling iron ore prices weighed upon the resources sector.

Edith Cowan University has joined Murdoch University in freezing fees for students who enrol in an undergraduate degree this year amid concerns proposed government funding changes could drive down student enrolments.

Chinese steel giant Baosteel and listed railway operator Aurizon have cleared a key hurdle in their $1.4 billion joint takeover bid for Perth-based Aquila Resources, with the Foreign Investment Review Board giving the green light to the proposed deal.