Business News

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Oil and gas explorer Otto Energy is looking to raise up to $17.5 million, despite current market conditions, to fund the development of its well in the Gulf of Mexico.

NRW Holdings managing director Jules Pemberton has sold 3.65 million shares to fund personal tax liabilities, at a price that was less than half the January peak in the company's share price.

Perenti Global has put dividends on hold to boost its financial position in response to the COVID-19 pandemic, but says the virus has not yet affected the business.

Bellevue Gold has received commitments to raise $26.5 million through a share placement, as the company seeks to upgrade resources at its flagship project in Western Australia.

There have been 30 insolvency appointments to Western-Australian-incorporated companies in the last two weeks.

US-based Eric Vincent has joined the board of Breaker Resources as non-executive director.

Mark McGowan says regional WA travel restrictions will soon be announced, foreshadows beach closures. Optus Stadium converted to emergency headquarters for WA police. WA's confirmed COVID-19 cases grew by 35 to 175.

Kelmscott-based adviser Anthony Hilsley has been banned from providing financial services for four years, while real estate sales representative James Mitsopoulous has been banned from working in the industry for 10 years.

Treasurer Ben Wyatt has reversed his decision to retire from politics, announced just one month ago. Read his statement in full.

Calima Energy has made some changes to its management structure to maintain balance sheet strength, preserve flexibility and reduce overheads across the business.

WA's confirmed COVID-19 cases jumped by 20 overnight to 140. Premier Mark McGowan warned not enough people were adhering to social distancing rules. WA will go into border lockdown tomorrow while cafes, restaurants and bars were restricted to takeaway services only at 12pm today.

New research from BDO has found Australian companies are unaware of the cyber security threats they're facing, despite becoming more sophisticated in how they manage the issue more broadly.

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PM Scott Morrison announces further restrictions on indoor gatherings. He also announced a delay to the federal budget. Australia has recorded its seventh COVID-19 death. WA has 12 new cases.

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Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison’s company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.

Zenith Energy will increase the capacity of a power station at one of Toronto-based Superior Gold’s operations in Western Australia after receiving a 52-month contract extension.

AFL boss Gillon McLachlan has announced the league will proceed with Round 1 as planned, with the first match to be played between Richmond and Carlton at the MCG tomorrow night.

Charles Rottier has joined the board of Tempo Australia as an independent non-executive director.

A growing number of hospitality venues are either closing or revising their operations, after the Prime Minister announced the ban of all non-essential gatherings of 100 plus people. The ban is effective immediately and will impact religious services.

Perth technology company Track’em has been awarded its second contract with Downer this year for the provision of its cloud-based asset tracking software.

Euroz has flagged an $8 million hit to its earnings after pulling out of its 80 per cent-owned Prodigy Investment Partners joint venture, which had underperformed in recent years.

Marine technology company VEEM has secured a $9 million order from the Australian Submarine Corporation for specialised parts for the Collins-class submarine maintenance program.

Keith Bowker, who was previously banned six years from providing financial services, has received a reduced ban of two years after appealing the ASIC decision to the Administrative Appeals Tribunal.

Civil and mining contractor NRW Holdings has been awarded an airport upgrade contract with BHP at its Olympic Dam project in South Australia.

Australia has upgraded its international travel advice to the highest level, with all citizens being told not to travel overseas because of coronavirus. It comes as Virgin Australia suspended all international travel for more than two months.

Sonu Cheema, current company secretary of Avira Resources, will also become a non-executive director of the company.

Mark McGowan is resisting calls to close interstate borders as he confirmed three more coronavirus cases.

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