AAP

Virgin Australia plans to raise $852 million and sweep the broom through its operations by cutting its aircraft fleet and workforce.

The Australian share market has opened lower after Wall Street dropped for a fourth straight session.

Rio Tinto will purchase a total $1.747 billion of 2018 capital notes under its debt reduction plan.

The Australian dollar is likely to slide further as Brexit fears keep global markets in risk-averse mode.

Gold hit its highest in almost six weeks on Tuesday, rising on worries about a potential British exit from the European Union and expectations the U.S. Federal Reserve will not raise interest rates at its June meeting.

Wall Street has dropped for a fourth straight session as central bank policymakers weighed the health of the US economy and investors worried about an upcoming vote in Britain on whether to leave the European Union.

The Australian share market has fallen nearly 2 per cent to a seven-week low, wiping out $27 billion in value, amid concerns about US interest rates and the Brexit vote.

Indian businessman Pankaj Oswal misappropriated more than $150 million in company funds for his Perth homes, a vegetarian restaurant chain, luxury cars and planes, a court has heard.

The Australian share market has opened lower in the wake of falls on Wall Street and in Europe overnight.

Wall Street has stumbled for a third straight session as tech stalwarts Microsoft and Apple dragged on indexes and investors braced for major economic and political events in the United States and Europe.

Gold rose for the fourth straight session and hit its highest since mid-May on Monday, driven by rising investor risk aversion before central bank meetings this week and Britain's June 23 vote on whether to leave the European Union.

World stock markets have fallen, while the safe-haven yen firmed amid concerns that Britain may be on the verge of voting to leave the European Union in a referendum that is two weeks away.

The Australian dollar is lower with markets in a risk averse mood.

The Australian stockmarket was spared volatile trading today thanks to a public holiday in the eastern states, as Asian stocks fell the most in more than four months and the Japanese yen jumped as risky assets took a hammering.

The Australian share market has fallen almost one per cent due to significant weakness in resources and banking stocks.

BHP Billiton shares have fallen after Brazilian police completed their criminal investigation into last year's deadly dam burst at a mine co-owned by the Australian giant.

The Australian share market has opened lower.

Arrium's administrator is still seeking another $100 million to make the Whyalla steelworks attractive to potential investors despite Prime Minister Malcolm Turnbull having ruled out an immediate bailout.

Australia's second-largest airline, Virgin Australia, is set to be more than one-third owned by two Chinese companies after its biggest shareholder slashed its stake.

The rebounding greenback has snapped an eight-day rally of the Australian dollar.

A forecast slump in iron ore prices is set to deliver another blow to already-strained federal government finances, with analysts warning a recent uptick in pricing will soon be wiped out.

The share market has closed slightly lower as higher prices for iron ore and oil boosted most major mining and energy stocks, but the banks went backwards.

South Australia will put up $50 million and has called on the next federal government to commit $100 million to help save Arrium's troubled Whyalla steelworks.

MP for Canning Andrew Hastie has been booted out of the Army Reserves after he defied a Defence request to remove photos of him in military garb from election campaign material.

The Australian share market has opened higher.

Gold has risen more than one per cent to a three-week high, bolstered by a weaker US dollar on declining expectations that the Federal Reserve will raise interest rates any time soon.

The Australian dollar has hit a one-month high on improved risk sentiment and fading US rate rise expectations.

The Australian share market has had a flat finish due to weakness among the major miners and big four banks.

The value of investor housing loan approvals has fallen to a near two-year low, adding weight to the view the Reserve Bank of Australia could cut interest rates again without fear of restarting a price boom.

BHP Billiton has agreed to sell its majority stake in the IndoMet coal project in Indonesia to its local joint venture partner, Adaro Energy.

The Australian share market has opened half a per cent lower

Stocks have broadly gained, helped by buoyant oil prices, a day after Federal Reserve Chair Janet Yellen pushed back expectations for an interest rate increase without raising concerns over the strength of the world's largest economy.