AAP

Broadspectrum has resoundingly urged shareholders to reject the $692 million takeover offer from Spanish company Ferrovial, saying it significantly undervalues the business.

Woodside Petroleum expects to take a hit of up to $US1.2 billion ($A1.7 billion) as it writes down the value of its energy assets following the slump in oil prices.

The Australian share market is up sharply as bargain hunters plough back in.

The Australian dollar is in positive territory despite collapsing oil prices and another wild night of losses on global stock markets.

Gold has risen two per cent, benefiting as global equity markets fell to two-and-a-half-year lows and oil prices continued their relentless slump to a 13-year low, leading other commodity markets broadly lower.

Wall Street's recent sell-off has deepened, with the S&P 500 closing at its lowest in over a year as US oil prices plummeted to 2003 lows.

The Australian share market has resumed its slide as investors react to sharp falls on Asian markets amid concerns over China's economy.

Mining services company Sedgman has asked the Takeovers Panel to stop construction giant CIMIC Group from buying any more of its shares.

BHP Billiton is facing another $1 billion hit to its bottom line and has cut its full-year iron ore production target.

Mount Gibson Iron is struggling to make money and weighing up mine closures as the iron ore price trades around decade lows.

The Australian share market is in positive territory in early morning trade despite a hesitant start, with the financial sector leading the gains.

Wall Street has ended flat after a choppy session as falling oil prices led to more carnage in energy stocks and an "in line" economic report showed slower growth in China.

The Australian dollar has held on to most of the gains made after weak Chinese economic data raised hopes of further stimulus measures from Beijing.

Gold has steadied, as the US dollar turns lower, US crude oil prices fall below $US29 per barrel and US equity markets pare gains.

The Australian share market has closed higher for only the second time this year after key economic data from China met expectations.

Mining services company Sedgman expects to sharply boost first-half profit and has pledged a special dividend for shareholders, as it seeks to fend off a takeover bid from construction giant CIMIC Group.

Mining giant Rio Tinto shipped 11 per cent more iron ore in 2015, helped by the expansion of its Pilbara infrastructure, but has narrowly fallen short of its full-year guidance of 340 million tonnes.

Clive Palmer's ailing nickel business doesn't currently have the cash to pay out sacked workers' entitlements and is behind in superannuation payments, their union says.

The operator of Australia's largest gas project, Gorgon, plans to supply more liquefied natural gas to China over a decade in the face of softening global demand.

The Australian share market has had a choppy open as investors wait for the release of key economic data in China.

The Australian dollar is softer ahead of crucial Chinese economic growth numbers.

Gold on Friday rose nearly two per cent, after dropping for four of the previous five sessions, as a weaker US dollar and falling equity markets underpinned demand for assets perceived as safer.

The Australian share market ended the session in red amid heightened concerns about the Chinese economy following major falls on international markets.

Wesfarmers has announced plans to spend over $1 billion in the UK market after sealing a deal to buy the Homebase home improvement chain for $705 million and rebrand it as Bunnings.

Pressure is mounting on self-proclaimed billionaire Clive Palmer to meet with affected workers at his embattled north Queensland nickel refinery.

Woolworths is abandoning its multi-billion dollar foray into the Australian home improvement market following years of losses, putting 7,000 jobs at risk.

The Australian share market has opened sharply lower.

The Australian dollar has tumbled to a seven-year low as risk sentiment soured in the wake of plunging oil prices and Chinese stocks.

Gold has risen nearly two per cent, after dropping for four of the previous five sessions, as a weaker US dollar and falling equity markets underpinned demand for assets perceived as safer.

The Australian share market has reversed early gains to finish in the red as investors fret about China and oil prices.

AFL player, coach and commentator Ken Judge has died of cancer.

Subscribers of video-streaming service provider Netflix will no longer be able to use proxies to watch content not available in their home country.