Business

The Iron Bridge magnetite project has been plagued with issues even before it started production.
Mining
Adrian Rauso and Daniel Newell

Fortescue flags $1.1b writedown over troubled Iron Bridge

Andrew Forrest’s Fortescue is bracing for a more than $700 million blow to its books after re-evaluating the value of its troubled Iron Bridge magnetite project in the Pilbara.

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Australia
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Markets

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The local benchmark S&P/ ASX 200 index ended Wednesday’s session up 109 points, or 1.7 per cent to 6449.7.
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Endeavour boss Jayne Hrdlicka.

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The New York Times
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Wall Street’s main indices have opened higher on the first trading day of August as signs of de-escalating tensions in the Middle East dragged down crude prices while investors prepared for another week packed with earnings and economic data.

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Financial expert Rachel Cole has cautioned against panic selling investment properties as housing tax changes loom.

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Mining

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The Iron Bridge magnetite project has been plagued with issues even before it started production.

Fortescue flags $1.1b writedown over troubled Iron Bridge

Mining
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Wesfarmers and SQM's Mt Holland lithium venture.

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Energy

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The Hon. Chris Bowen MP, Minister for Climate Change and Energy, speaks at the National Press Club.

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Politics
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Woodside has narrowed its production guidance for the full year to between 174mmboe and 185mmboe.

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Origin was aware of a possible security threat for weeks before a massive data breach. (Joel Carrett/AAP PHOTOS)

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