Rental vacancies continue to fall in Perth’s residential property market, with competition between tenants ramping-up, particularly in sought-after locations.
Shares in national contracting groups CIMIC and Downer have plummeted more than 20 per cent after the companies reported significant write-downs and higher costs respectively.
The state government today announced the investment of $2.7 million to secure a Caterpillar autonomous training facility in Collie, the first such facility in the Southern Hemisphere.
Westpac has named "battle-hardened" banking veteran John McFarlane as its next chairman to help it recover from the fallout of a massive money laundering and child exploitation scandal.
Australian stocks were down across the board at noon after days of record highs amid profit warnings and concerns about the deadly virus outbreak in China.
Oil prices fell about 2 per cent overnight as a market surplus forecast by the International Energy Agency and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya's crude output.
Gold eased slightly overnight as risk sentiment recovered and the dollar held firm, but expectations of dovish monetary policy from global central banks capped bullion's losses and kept prices above the $US1,550 an ounce level.
CIMIC Group subsidiary UGL has secured services contracts for its clients in the mining sector, including work at two of Alcoa of Australia’s WA sites.
The Australian share market has smashed through the 7,100 mark, resuming its record-breaking trajectory as some traders were apparently caught in a short squeeze.
Shares in St Barbara eased today after the company downgraded production forecasts at two of its goldmines, while fellow miner Regis Resources reported a strong quarterly result.
Perth company Georgiou Group has started upgrade works on High Street in Fremantle, as part of a $118 million state and federal government project designed to improve safety and reduce congestion.
Perth’s office market is continuing its recovery, with vacancies falling for the fifth consecutive quarter and the city recording the second-highest office takeup of any Australian city in 2019.
Indian state-owned corporation NMDC recently lifted its stake in local mining hopeful Legacy Iron Ore to more than 90 per cent in a deal that minor shareholders say dramatically diluted their equity, with regulators powerless to take action.
Water Corporation chairman Mike Hollett has tendered his resignation, citing business and family interests, just two months after being reappointed to the role. Deputy chair David Lock will act in the role until a permanent chair is appointed.
Civil and mining contractor MACA has secured another contract with First Quantum Minerals, worth $20 million, and further contracts with VicRoads totalling $19.5 million, while also announcing the closure of its Brazil operations.
Western Australia faces a major challenge because of the declining influence of the traditional news media, according to one of the state’s top advertising executives.
Australian shares have shrugged off a pullback to open higher again despite global markets reacting negatively overnight to news of a potential epidemic.
Oil prices fell overnight on expectations a well-supplied global market, including supplies from growing record US production, would be able to absorb disruptions that have cut Libya's crude production to a trickle.
Gold shed 1 per cent in volatile overnight trade as investors booked profits after prices hit a two-week high early in the session, although losses were limited by a slide in equities due to worries about a virus outbreak in China.
Resolute Mining has agreed to repay all amounts outstanding under a $US130 million loan agreement with Taurus Funds Management, which it said would be funded by an equity raising.
A private business has lodged documents with the environmental regulator for a new bauxite mine in the Kimberley, a project estimated to be worth around $35 million.
A series of large-scale residential and commercial projects are expected to get under way in Perth this year with a development pipeline nearing $2 billion in value.
