AAP

A multi-millionaire industrialist known as Britain's ‘man of steel’ has won the bidding battle for Arrium, ending more than a year of uncertainty for the collapsed South Australian steelmaker.

State opposition leader Mike Nahan expects former premier Colin Barnett to retire from politics this year but believes he first wants to ensure his legacy is not trashed.

US private equity giant Kohlberg Kravis Roberts has moved a step closer to a takeover of Vocus Communications following the telco board’s decision to open its books to a non-exclusive due diligence.

The Australian share market has opened lower, with investors in a cautious mood after the ASX posted its strongest session of the year on Tuesday.

The Australian dollar is lower after the Reserve Bank appeared not to be inclined to consider raising its interest rate.

Oil prices flirted with both positive and negative territory on Tuesday, hovering around $US50 a barrel on tentative signs that a persistent rise in US crude production may be slowing.

The share market has posted its strongest session of 2017, as international investors joined the spending spree that followed recent heavy falls. 

The Reserve Bank of Australia has held its benchmark interest rate at 1.5 per cent, leaving the cash rate unchanged for an 11th straight month.

The Australian share market has got off to a cracking start, led by strong gains by banking and mining heavyweights.

The Australian dollar is lower against a strengthening US dollar ahead of the Reserve Bank of Australia's interest rate announcement and retail trade figures.

Oil has risen more than 2 per cent, resuming its longest stretch of daily gains in more than five years after data pointed to diminished US output, though analysts said news of rising OPEC production could cap gains.

Gold has fallen to a seven-week low and headed for its biggest one-day loss since November as the US dollar rebounded and 10-year US Treasury yields climbed, weighing on appetite for non-interest bearing bullion.

The Australian share market has closed lower with all sectors except for energy in negative territory.

Fairfax Media CEO Greg Hywood says the company is back on ‘plan A’ and proceeding with spinning-off its Domain business, after two potential suitors walked away without making a bid.

Mineral sands miner Iluka Resources says shipping of heavy mineral concentrate from South Australia's Port of Thevenard has been suspended following safety concerns over the jetty structure.

Troubled broadcaster Ten Network has secured a $30 million funding package so that it can keep operating while receivers and managers look to sell or recapitalise the business.

The Australian share market has opened flat, with investors in a cautious mood after a sharp decline in the previous session and ahead of local and international data this week.

Gold has eased and remains on track for its first monthly loss this year, as indications by leading central banks that the era of easy money may be coming to a close pushed bond yields higher, hurting the non-interest bearing metal.

The Australian dollar is slightly higher against its US counterpart which has steadied after a series of falls, amid another lift in oil prices and steady iron ore prices.

Oil has climbed for a seventh straight session as a decrease in the US rig count and stronger demand data from China lifted depressed prices that still finished the first half with the biggest decline for that period since 1998.

The Australian share market has fallen sharply amid profit taking and a weak overseas lead on the last day of the financial year.

South32 has again suspended operations at its Appin underground coal mine in NSW over concerns of a build-up of methane gas levels.

The Australian share market has opened sharply lower, after an overnight decline on Wall Street and some profit taking on the last day of the financial year.

The Australian dollar has continued to climber against its US counterpart, which has fallen for a second straight day, thanks to the rebounding iron ore price.

Oil futures have ended slightly higher, extending crude's rally to a sixth straight session after a decline in weekly US crude production temporarily eased concerns about deepening oversupply.

Gold prices have fallen as signs that central banks may scale back their ultra-loose monetary policy pushed bond yields higher on both sides of the Atlantic, though a decline in the US dollar to its lows for the year lent support.

The Australian share market is still performing strongly, fuelled by the big banks and miners, despite losing of its early momentum.

The boss of beleaguered law firm Slater & Gordon has quit and the board will be cleaned out under a shake-up that passes almost full ownership of the company to its lenders.

Treasurer Scott Morrison has rejected warnings the Liberals would face an electoral wipeout in Western Australia if the federal government doesn’t give the state more GST money.

The Australian share market has opened sharply higher, mimicking an overnight climb on Wall Street where the S&P 500 had its best one-day percentage gain in about two months.

The Australian dollar is up almost half a cent against its weakening US counterpart amid a surge in the prices of iron ore and oil.

Oil futures have climbed more than 1 per cent to their highest in more than a week as buyers were encouraged by a small weekly decrease in US production and shrugged off a surprise build in crude inventories in the world's top oil consumer.