Business News

Magmatic Resources has secured commitments to raise $5 million from a share placement to explore its tenements in the East Lachlan gold-copper province in NSW.

Matt Callahan has re-joined the board of Botanix Pharmaceuticals as an executive director following the decision by Robert Towner to step down as non-executive director.

Half price TAFE fees have led to a 20 per cent increase in student enrolments this year, particularly in engineering, cyber security and early childhood courses.

Electricity provider Horizon Power has been fined $40,000 for incorrect work in Kununurra, causing a fire and telecommunications equipment at various properties to become potentially unsafe.

PSC Insurance Group has purchased Perth-based Ultimate Safety Solutions Australia (USSA) and the majority of shares in Eden Software, which owns USSA’s SafeX technology, for an upfront payment of $700,000.

Australian Vanadium has received a $1.25 million grant from the federal government to find ways to improve vanadium production.

Alicanto Minerals has exercised its option to acquire Zaffer Australian which owns the Oxberg and Naverberg Volcanogenic Massive Sulphide Projects within the highly endowed Cu-Au-Zn-Pb-Ag Bergslage

Boral boss Mike Kane has announced he is standing down after the company confirmed staff at its North American windows business had inflated earnings figures over a 20-month period.

Bronwyn Barnes will transition as non-executive chair of Indiana Resources to executive chair, in order to focus on leading activities to protect the rights of shareholders in the

Airbnb says 4.5 million people booked rooms on its online lodging platform in regional Australia last year, with 260,000 guests visiting regional Western Australia, confirming the widespread uptake of its accommodation services.

The Yamatji Indigenous community has celebrated a landmark economic package and native title recognition for more than 100,000 hectares of land in Western Australia’s Mid West.

Mackerel Islands will begin managing Karijini Eco Retreat as of next month, with the Pilbara-based operator taking over operations of the Gumala Enterprises-owned facility.

Our weekly appointments wrap includes Paul Vogel, Steve Rowe, Grant Bowen, Kaylene Gulich, Robert Kennedy, Rob Cossart, Tym Duncanson, Robert Mosig, Murray Criddle, Paul Catalano, Wayne Scheggia, Gary Morgan, Bob Kucera, Richard Gregson, Jane Chiang, and Joe Lamhut.

Our board moves wrap includes Michelle Prater, Howard Golden, Steven Michael, Richard Homsany, Nathan McMahon, Michael Jefferies, and Wayne Zekulich.

National retail spending fell by a worse-than-expected 0.5 per cent in a fire-affected December, however, retail giant Coles recorded a surprisingly strong Christmas period.

Nationals MPs Keith Pitt and Darren Chester have been elevated to federal cabinet in a ministerial reshuffle.

Our board moves wrap includes Andrew Penkethman, Katina Law, Tim Edwards, David Straface, Jordan Luckett, Justin Barton, and Greg Cunnold.

AMP has been ordered to pay a $5.2 million penalty after the Federal Court found the bank had failed to take reasonable steps to ensure its financial planners complied with the best interests duty.

Biotech company Zelira Therapeutics has received commitments to raise around $4.6 million from a share placement, while rent.com.au is planning an underwritten $2.9 million rights issue.

Richard Homsany has joined the board of Brookside Energy as a non-executive director.

Perth-based engineering group Clough has secured a design and construction contract with ASX-listed Australian Bauxite for an aluminium fluoride production plant in NSW.

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.

Deputy Prime Minister Michael McCormack has repelled a leadership challenge from Barnaby Joyce, emerging victorious in a party room ballot this morning, while Adam Bandt has been elected unopposed as Greens leader following the resignation of Richard Di Natale.

A summary of the smaller deals from last week, which may not have been included in our daily news coverage.

Our board moves wrap includes Robin Longley, Michelle Li, David Brown, Brenda Berlin, Tim Allison, Evan Cross, Andrew Steers, Michael Hendriks, Wayne Bramwell, and Patrick Corr.

Building approvals in Western Australia rose by 3.6 per cent to 982 in December, while total housing approvals across Australia dipped 0.2 per cent.

Primero Group has increased its order book to $195 million for the 2020 financial year after securing $100 million worth of engineering and construction contracts with Rio Tinto and Fortescue Metals Group.

Minister for Resources and Northern Australia Matt Canavan has quit cabinet today and thrown his support behind former deputy prime minister Barnaby Joyce, who has announced plans to seek leadership of the National Party tomorrow. It follows the resignation of deputy Nationals leader Bridget McKenzie yesterday and Greens leader Richard Di Natale today.

Our board moves wrap includes Alastair Clayton, Kane Marshall, Kinga Doris, Peter Tazewell, and Rebecca ​Stringer-Krein.

Seven regional roads in Western Australia, including Great Eastern Highway and Indian Ocean Drive, will receive $17.5 million worth of upgrades this financial year in efforts to improve safety and prevent run-off crashes.

There have been 18 insolvency appointments to Western-Australian-incorporated companies since January 11.

Commonwealth Bank of Australia will make an $83 million provision for insurance claims from the recent bushfires across the country.