AAP

Caltex Australia is planning a $500 million capital raising and the sale of an initial 25 petrol stations for $136 million as it contends with an unsolicited approach from its Canadian suitor.

Retail spending flatlined in October in yet further evidence consumers have banked any recent stimulus windfall instead of hitting the shops.

Metcash has slipped to a $152.5 million first-half loss on the back of the loss of its 7-Eleven supply contract.

The Australian share market has rebounded following two days of steep losses and after stocks on Wall Street bounced overnight.

Oil prices surged 4.0 per cent overnight on expectations that OPEC and allied producers would extend production curbs and as US government data showed a large drop in domestic crude stockpiles.

Gold shrugged off earlier gains to fall overnight as a report suggesting progress on the US-China trade negotiations rekindled risk appetite while palladium notched up a fresh peak.

A business consultant who worked extensively in Perth has been jailed for nearly two years after she faked her credentials to secure a job as chief information officer for the South Australian government.

The Australian share market has fallen sharply for the second day in a row, after Donald Trump remarked that a trade deal with China might have to wait until late 2020.

Australia's GDP showed only a slight expansion in the last three months, while WA's state final demand fell by 0.2 per cent for the quarter - the second weakest performing state.

The Australian share market has fallen sharply for the second day in a row after another negative lead from overseas.

Oil steadied overnight as expectations of output cuts from OPEC and allied producers brought prices back up after they slid briefly following comments from US President Donald Trump that a trade deal with China may be delayed.

Gold jumped more than 1.0 per cent overnight on fading optimism surrounding a US-China trade deal after US President Donald Trump said talks could extend until after the presidential elections in November 2020.

The Australian share market has suffered its worst day since mid-August on renewed fears over global trade uncertainty.

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.

Australia's current account surplus widened to a larger than expected $7.855 billion in the September quarter despite a drought-related decline in export of rural goods.

Caltex Australia says the $8.6 billion unsolicited takeover offer from Canadian convenience store operator Alimentation Couche-Tard undervalues the company.

Santos has upgraded its 2025 production outlook to 120 million barrels of oil equivalent from 100 mmboe, indicating a cumulative annual growth rate of more than eight per cent.

Metcash has announced a $237.4 million write-down against its major food division just days after revealing 7-Eleven would not be renewing its $800 million supply contract.

The Australian share market has dropped sharply lower amid renewed fears over global trade uncertainty and ahead of the central bank's decision on monetary policy.

Oil futures gained about 1.0 per cent ovenright on hints the Organisation of the Petroleum Exporting Countries (OPEC) and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.

Gold steadied overnight after paring losses as weak US manufacturing data rekindled worries about a slowing economy while palladium exceeded $US1,860 per ounce in its week-long surge to new all-time highs on a supply crunch.

The Australian share market has set a fresh all-time closing peak but narrowly missed eclipsing its all-time intraday high set on Friday.

Police investigating Western Australia's biggest public sector theft have charged a third person over the alleged corruption.

Nickel hit its lowest point in more than four months on Friday and posted its steepest monthly loss in eight years on faltering steel output from top producer China and waning impact from an Indonesian ore export ban.

The Federal Court has ordered Optus to pay $6.4 million in penalties for falsely telling customers of rival broadband services their home internet would soon be disconnected.

Woolworths has been slapped with an employee class action that alleges its underpayment scandal is far worse than the current $300 million estimate.

The Australian share market has moved higher, shrugging off a negative lead from overseas at the end of last week.

Gold prices gained on Friday as markets awaited further developments on US-China trade talks after officials in Beijing said they would retaliate against the US for passing a law in support of Hong Kong protesters.

Oil prices fell on Friday, with US crude dropping more than 4.0 per cent, on fresh trade tensions and record high US crude production but they still ended the month higher as OPEC watchers expect an extension next week to a pact to throttle oil output beyond March.

The Australian share market has pulled back after hitting a new intra-day all-time high earlier in the day, as markets turned cautious on fears a new US law backing Hong Kong protesters could sink a US-China trade deal.

As Australia prepares for a UN climate summit in Spain, a new report shows annual greenhouse gas emissions have dipped slightly, mainly due to more renewable energy use and the impact of the drought.

The Australian share market remains in positive territory after having reached a new high for the second day in a row.