Business
The Australian share market has opened higher, buoyed by a weaker-than-expected US jobs report that has reduced expectations of a US rate rise this month. The ASX 200 was up 0.2% at 8,696 points in early trade.
Businesses in Western Australia's north are worried that recent changes to the Working Holiday Maker visa program will deter backpackers from choosing to work in remote regions where they are most needed. The changes, which include a ballot system and capped third-year extensions, may make it less attractive for backpackers to come to remote Australia.
The Western Australian government will pay up to $4 million to help a major brickmaker reopen a facility in the state, aiming to ease a brick shortage that's affecting the construction industry. The move is expected to increase production by up to 15 per cent.
The Australian share market is set to open slightly higher in morning trading ahead of the Reserve Bank's interest rate decision. This comes as US bonds surged while Wall Street closed in the red.
In a volatile week, Wall Street closed higher, while the ASX is poised for a flat opening ahead of the RBA rate decision. The markets are also reacting to various news, including Karoon Energy cutting its production guidance and oil price rebounds.
Interest rates are expected to rise for the fourth time this year, with financial markets and economists predicting a 25-basis-point hike when the Reserve Bank meets on Tuesday. But some analysts warn that this may not be the last rate hike before Christmas.
The competition watchdog has blocked the sale of WA's largest insurer, RAC WA, to Sydney-based IAG, citing concerns it would reduce competition and drive up premiums. The decision marks a significant setback for the $1.35 billion deal.
Quest Apartment Hotels has advised customers affected by a data breach in August to replace their passports and driver's licences after its investigation revealed additional information had been leaked. The breach exposed sensitive customer information, including passports, driver's licences, and credit card numbers with CVV numbers.
The Australian share market started higher after Wall Street's AI stocks surged, pushing the tech-heavy Nasdaq index to a new record high. Oil prices fell to their lowest level since early September on investors' renewed hopes for a diplomatic breakthrough to end the US-Iran war.
New workplace safety rules will reduce accepted exposure levels of dust and certain chemicals from December 1, but farmers and miners in Western Australia are warning that some new limits may be impossible to measure. The changes have industry groups calling for a delay in implementation to allow for further research and consultation.
Australia's major banks have brought forward their forecasts for an official cash rate hike, with some now predicting an additional increase in November. The ASX 200 closed flat on Monday, with gains in the banking sector offsetting losses among miners.
A pioneering abalone ranch on Western Australia's southern coast is winding down due to a slump in the global abalone market and mounting losses. The business, which was once the biggest employer in Augusta, accumulated losses of more than $25 million as of June last year.
Fortescue, led by Andrew 'Twiggy' Forrest, has lodged an appeal against a landmark native title compensation ruling, seeking clarity on aspects of the judgement. The company was ordered to pay a record $150.3 million to traditional owners for building four iron-ore mines without their permission.
AI data centre developer Firmus Technologies is courting investors in Asia and Australia ahead of a widely expected multi-billion-dollar share market float. The company's aggressive expansion plans, including projects in Tasmania and partnerships with major players like OpenAI, are generating significant interest in its anticipated initial public offering.
The Australian share market is struggling to find direction, trading near a three-month low. Wall Street extended its sell-off as oil prices spiked on further signs of disruption in Saudi Arabian crude supplies.
A new wearable device is helping cattle farmers measure and potentially reduce methane emissions from their herds in real-time. The technology, known as ZELP Sense, is a rubber, waterproof sock that fits snugly to an animal's head, continuously measuring methane gas near the nostrils and delivering data to users via a smartphone app.
The AI industry's leading voices are warning of an existential threat to humanity, with some experts predicting that AI could take over the entire internet within a year. The concerns are being raised as the development of AI continues to accelerate.
The Western Australian government is urging the state's last two private coal miners to consolidate operations as taxpayer subsidies wind down ahead of the 2030 coal phase-out.
A US federal court has ruled that tech giant Meta failed to preserve crucial evidence in its legal battle with Australian billionaire Andrew Forrest. The mining magnate is suing the platform over fraudulent cryptocurrency ads using his likeness that have duped thousands of victims.
A port strike in Broome has disrupted luxury cruise operations during peak tourism season, forcing crews to manually load cargo and ferry passengers ashore. Local business owners and tourism operators have expressed concern over the economic impact of the two-week stoppage.
A major infrastructure surge to support defence and port facilities is set to transform Kwinana, but local logistics and transport operators are warning of severe operational delays.
The Australian Federal Police are assessing a report into consecutive faults on vital undersea communications cables off the coast of Perth. The mysterious disruptions have renewed urgent calls from experts to secure the vulnerable infrastructure that carries 99 percent of Australia's international digital traffic.
A major 48-hour strike at BHP's Port Hedland operations has concluded, leaving unions and the mining giant locked in a dispute over the industrial action's true economic impact. Both sides are now preparing for crucial arbitration talks next week in a bid to resolve the long-running dispute.
A major industrial dispute has escalated at Port Hedland as BHP workers walk off the job for a second day. The stand-off has raised concerns over economic impacts in the Pilbara region as unions and management lock horns over pay and working conditions.
A massive 48-hour strike at the world's largest bulk export port has commenced, threatening multi-million dollar losses for BHP and the West Australian government. The industrial action marks a major escalation in the months-long dispute over wages and working conditions.
A local East Victoria Park business owner is taking a stand against the Public Transport Authority, claiming Metronet construction works cost him $250,000 and nearly forced his store to close. Joe Mahon says the prolonged road closures and traffic chaos decimated his customer base and wiped out years of steady growth.
Despite aggressive push from state and federal governments to establish a domestic battery processing sector, leading Australian lithium miners warn that high operating costs are making local refining unviable. Industry giants are instead turning to overseas partnerships to process critical minerals, casting doubt on Australia's downstream manufacturing ambitions.
As the federal government tightens migration rules and hikes salary thresholds, regional small businesses are struggling to retain essential international staff. In the tiny South West town of Balingup, one cafe owner's battle to keep a beloved worker highlights the growing divide between metropolitan policy and country realities.