Financial Services

The downturn in commodity markets has prompted Nomad Buildings Solutions to cut its earnings forecast for the 2009 financial year as its modular division comes under pressure.

ATO gives Wickenby target $1m; Multiplex poised to build Fiona Stanley; Regulator ready to curb ATO aggression; CCC fails to censor McCusker report; Arrow takes aim at Pure

Western Areas chairman Terrence Streeter has continued to sell down his shares in the nickel miner, today revealing he pocketed nearly $2.

New BankWest managing director Jon Sutton committed his new charge to acting independently of its parent Commonwealth Bank as the major moves to take control of its new WA asset.

The traditionally quiet time for businesses in the days before Christmas has been set aside as six Western Australian companies today unveiled merger and acquisitions plans valued at over $506 million.

Booragoon-based Total Staffing Solutions has entered an agreement to acquire recruiter Ultimate Skills in a $5 million scrip deal as it offloads its majority interest in Mining People International.

West Perth-based Otto Energy has agreed to farm-out 60 per cent of its Philippines oil and gas project to BHP Billiton Petroleum.

Patersons Securities says it has acquired Perth-based Montagu Stockbrokers for an undisclosed sum.

South Perth-based Advanced Ocular Systems will transform into a scaffolding business after it agreed to merge with International Formwork & Scaffolding, valued at $22.5 million.

Manganese miner OM Holdings says it will incur a loss of over $13 million after it closes another hedging position as Consolidated Minerals beefs up its interest in the miner.

Shake-up for ASX capital raising rules; ASX 100 face losses of $50bn; Metal meltdown to persist; Super funds seek tax relief; Razor gang to fund rescue

Perth-based Incremental Petroleum has recommended shareholders reject an $84 million takeover bid by Texan firm TransAtlantic, citing the current low oil price as one reason to rebuff the offer.

Perth-based Condor Nickel has agreed to merge with its shareholder, Chinese controlled Chihong International Mining, with the merged entity to have a host of projects across Western Australia.

The Australian sharemarket was weaker at noon, dragged down by losses in the materials and energy sectors.

Western Australian mining identity Tony Sage will chair the combined entity of Jackson Minerals and Scimitar Resources, which have unanimously agreed to merge.

OZ Minerals will shed a further 189 jobs this week as it closes its flagship Avebury nickel mine in Tasmania due to the low price of the metal.

Some financial relief for mining companies with projects in Western Australia with the state government freezing rate rises for environmental bonds.

Shares in Atlas Iron have risen sharply in early trade as the iron ore miner enters into a long-term off-take agreement for its Pardoo project in the Pilbara.

Exporters taxed to boost borders; Qantas ditches BA merger; Bang goes the west's boom; Jilted shipowners sue FMG; Fahour is pushed aside as Clyne takes reins at NAB

Fashion brand Costarella Design will go back to its private roots after the company that owns it entered into a deal to acquire a liver disease treatment company.

HBOS Australia has today completed the $2.1 billion sale of Bankwest and St Andrew's to Commonwealth Bank of Australia.

Perth’s design professionals have appealed directly to the state government not to pull the funding rug from under it, as some projects are halted amid rumours of billions of dollars being slashed from the capital works program.

The Australian share market finished marginally in the black with a weaker Commonwealth Bank and energy stocks weighed on the bourse.

Perth-based Phosphate Australia has emerged as the best performing initial public offer for 2008, as the number of company listings in Western Australia more than halve as the financial crisis bites.

The state government has budgeted $2.4 billion for the Royalties for Regions scheme as it forecasts a net debt of nearly $17 billion in 2010/11, according to the mid-year economic review.

The continued high risk of Rio Tinto's debt following its Alcan acquisition has prompted international ratings agency Moody's to downgrade the miner's rating.

Wembley-based property developer and manager United Overseas Australia expects its 2008 profit to slump over 70 per cent, largely on the back of project delays.

BHP Billiton says it will focus on brown-field expansion projects including its Western Australian iron ore operations, to help carry it through the current economic uncertainty.

THIS is State Scene's eighth year-in-review column and, like the first, it features a change of government.

AUDITOR General Colin Murphy has called on the WA Department of Health to improve the way it buys services from non-government and not-for-profit organisations, following an audit of the department's purchasing practices.

Finsia Residential Property Outlook The strength of Australia’s economy has been highlighted in recent years by its ability to withstand a number of internal and external events, including a major dro

LAST year, in a deal which was value destroying for the shareholders of base metal miner Oxiana Limited, that company merged with Zinifex Ltd to become Oz Minerals.