Fortescue Metals Group Ltd has appointed former Cape Lambert Iron Ore Ltd chairman Ian Burston and former Oxiana chief executive Owen Hegarty to its board.
Banks anchored against storm; Resources slump blow to earnings; Rio lawyers threaten striking drivers; Fortescue eyes new port with mining giant's rail; Westoz sells 6.9pc into Cooper bid
The numerous assurances that Australia is well-placed to ride out the financial storm have not stopped panicky investors from fleeing the market, with the benchmark indices hemorrhaging over 15 per cent in the past week alone.
The stock market carnage over the past year has seen the value of Western Australia's blue chip stocks cut by half from their peak value while other stocks have been smashed to as little as 10 per cent of their top price.
Perth-based Noah Resources NL will undergo a transformation following the approval of its acquisition of Namibian Copper Pty Ltd, and expects to re-list on the local stock market by the end of the month.
Acceptances for Cooper Energy Ltd's takeover offer for Incremental Petroleum Ltd have jumped nearly 10 per cent, after the takeover target formally rejected the offer earlier this week.
Takeover target Perilya Ltd said it is open to CBH Resources Ltd's bid for the company, but advises a merger at a time of market volatility could expose shareholders to additional risks.
Perth-based Incremental Petroleum Ltd today dismissed suggestions by Cooper Energy Ltd that it has insufficient cash to fund its growth strategy as "scare mongering".
Perth-based Resolute Mining Ltd has unveiled an ambitious $51 million capital raising with funds to go towards the continued re-development of its African gold project which is expected to begin production this month.
Some good and bad news for home buyers with one research firm saying the property cycle looks to have bottomed out while a survey from another says trading conditions are likely to deteriorate over the next six months.
Cape Lambert Iron Ore Ltd has offered a board position to disgruntled shareholder Power United as the dispute, which involved court injunctions, is settled.
West Perth-based Royal Resources Ltd will sell its Pilbara iron ore project to its neighbour Giralia Resources Ltd for $3.2 million in cash and shares.
Perth-based agricultural investment manager Great Southern Ltd has unveiled its revised restructure plans after a falling share price forced it to go back to the drawing board.
A one-off expense associated with the takeover of Western Australia-based Home Building Society has slightly dented Bank of Queensland's net profit, which slipped 2 per cent for the 2008 fiscal year.
South-Perth based Cooper Energy Ltd chairman Laurie Shervington today said KPMG's valuation of its hostile takeover target Incremental Petroleum Ltd was out with the fairies.
The global financial turmoil appears to have hit the once impervious iron ore market after Mount Gibson Iron Ltd said some of its customers wanted shipments delayed, but other producers remain positive about the outlook.
THE market capitalisation of Western Australian listed companies crashed to a 20-month low during September, falling 21 per cent to $127 billion, according to the Deloitte WA Index.
DURING the past three years, the influx of cranes into the Perth CBD has provided a strong visual reminder of the strength of Western Australia's economy and the buoyancy in the property sector.
THE medical supplier behind a locally developed physiotherapy device is raising capital to float the business and enhance its presence in world's competitive medical arena.
Emeco Holdings Ltd managing director Laurence Freedman has increased his interest in the company through the on market acquisition of 1 million shares at a total cost of $790,000.
WHEN issuers of high-yield securities backed by sub-prime mortgages went on the sales offensive to investors in Western Australia in mid-2007, they pursued the three Cs - councils, churches and charities.
A MID-DECADE housing industry boom in Australia, fuelled by an ultimately destabilising rate of population growth, diverts scarce resources, including funds, away from much more productive sectors of the economy.
THE global financial crisis has been an unmitigated disaster for investors and looks like getting worse, but the impact on the business sector in Western Australia is far from clear-cut.
THE list of carbon-offset firms in Western Australia continues to grow, as a new player with a combined horticultural/carbon sink project looks to enter the market.
NEWLY established venture capital firm Banksia Capital has struck its first deal, raising $7 million for Malaga-based water filtration company Cool Clear Water Beverages Pty Ltd to assist the company's expansion.
DESPITE no firm launch date having been set for its delayed mutualisation, $9 billion fund manager GESB has unveiled a highly experienced seven-member board.
THE roll call of Western Australian businesses directly affected by the global credit crunch grew suddenly during the past week, with several listed companies changing their plans in response to the meltdown on Wall Street.
THE Australian stock market rebounded to close almost 2 per cent higher after the Reserve Bank of Australia slashed the cash rate by 100 basis points to 6 per cent.
A TIGHTENING credit market provided the perfect opportunity for UK-based debtor finance specialist Bibby Financial Services to enter the Western Australian market, opening a Perth office this week.
