Wall St closes lower at end of holiday-shortened week

Scott Jones, owner of Diabolik bookstore in Mount Hawthorn, expressed disappointment with the State Budget, noting no changes in payroll tax or energy credits, and feeling it offered little support for small businesses. He acknowledged potential benefits from broader investments in housing and health but emphasized the increasing challenges of running his retail business amid rising expenses and longer working hours. Need More Context? 🔎

Rita Saffioti, facing a challenging week due to significant cost overruns in government IT projects and concerns over the usability of Metronet railcars, is managing a budget that will increase the state's debt from $28.3 billion to $42.5 billion by 2028-29, despite predicting cash surpluses. Critics highlight that her financial management, buoyed by inflated revenues from iron ore and a favorable GST deal, fails to control rising debt levels, emphasizing her reliance on luck rather...

West Coast captain Oscar Allen will undergo knee surgery, making a return this season unlikely. Struggling with ongoing injuries, he is out of contract at season's end, with Brisbane and Hawthorn as potential suitors, while the Eagles hope to retain him with a three-year offer. Need More Context? 🔎

EV Resources is enhancing its focus on the Los Lirios antimony mine in Mexico by appointing industry veterans Shane Menere and Justin Werner to its board and raising $650,000 to expedite production. The company has shifted its strategy to prioritize Los Lirios after divesting from other projects, amidst rising antimony prices driven by demand in critical sectors. Need More Context? 🔎

KMD Brands, owner of Kathmandu, Ripcurl, and Oboz, has warned that unseasonably warm autumn weather in Australia could lead to a full-year earnings drop of up to $NZ35 million, with expected underlying earnings between $NZ15m and $NZ25m, down from $NZ50m last year. Despite a 6.4% sales slump at Kathmandu, recent cooler weather has sparked a 13.2% sales growth in June, and the company continues to focus on online sales and growth initiatives. Need More Context?...

An Albany electrician, Alex Said, is participating in the Push-Up Challenge to raise funds and awareness for mental health by completing 3,214 push-ups in 23 days, reflecting the lives lost to suicide in Australia in 2023. With strong community support, he has increased his fundraising goal from $500 to $3,000, emphasizing the importance of open conversations about mental health. Need More Context? 🔎