AAP

The Australian dollar has bounced from its recent lows helped by some encouraging US consumer confidence figures.

LABOR treasury spokesman Chris Bowen insists a GST increase can’t be the linchpin of widespread tax reform because it won’t be enough to pay for measures to boost Australia’s sluggish economy.

The Australian share market has plunged well over 3 per cent, pulled down mainly by a big sell-off of resources stocks, especially global miner BHP Billiton.

Struggling grocery supplier Metcash is beginning to see signs of improvements thanks to its renewed focus on fresh food and private label brands.

Outdoor clothing and goods retailer Kathmandu has announced it will quit the UK, on the same day it posted a 51.7 per cent slide in full-year net profit to $NZ20.4 million.

The Australian share market has slumped in early trade, joining the overnight retreat by US and European equities on deepened worries about China's economy.

US stocks have fallen sharply, joining European equities in retreat after poor Chinese industrial data deepened worries about the world's second-biggest economy.

The Australian dollar has slipped below 70 US cents after Chinese industrial profits figures added to evidence that the Chinese economy is slowing.

Oil prices have dropped in the wake of a sharp fall in industrial profits in China, the latest sign of weakness in the world's largest energy consumer.

Gold had its worst session in two-and-a-half weeks, extending Friday's losses ahead of a key US jobs report later in the week that could boost bets the US Federal Reserve will raise interest rates this year.

Heavy falls by energy stocks have pulled the share market lower, reversing early gains.

Fremantle defender Michael Johnson is in doubt for Friday night's AFL preliminary final against Hawthorn because of a back injury, according to reports.

Australia Post has notched up its first full-year loss in more than 30 years.

The Australian share market has opened higher.

US stocks have finished lower on global growth fears with shares of industrial heavyweight Caterpillar sinking after it announced thousands of job cuts.

Oil prices have edged higher recovering some of the losses from the previous day's session that were prompted by increased US oil output.

The Australian dollar is higher, after the US dollar weakened against most of the major currencies on the back some encouraging US economic data.

Spot gold has rallied more than two per cent for the biggest one-day gain in almost eight months as a weak US dollar sparked short covering while platinum recovered from a four-day rout even as automotive demand woes lingered.

The Australian share market has closed nearly 1.5 per cent higher as bargain-hunters moved in to buy stocks beaten down on Wednesday.

Santos shares have gained ground after the oil and gas producer said it had started production at its flagship GLNG liquefied natural gas project in Queensland.

The Australian share market has opened higher.

Platinum has fallen to a six-and-a-half-year low, on fears about reduced demand from the auto sector, where it is used in diesel catalysts to clean up exhaust emissions, while palladium, used in petrol vehicles, surged seven per cent.

Oil prices have fallen, reversing earlier gains, as a modest rise in US output overshadowed a hefty drop in crude inventories in the world's top consumer.

US stocks have finished lower with petroleum-linked equities especially weak following a report showing the feeblest Chinese factory activity in more than six years.

The Australian dollar has dipped below 70 US cents for the first time in two weeks on renewed worries about China's economy.

The share market has slumped 2 per cent to hit its lowest level in more than two years, as a fall in Chinese manufacturing activity stokes concerns about the global economy.

The timing couldn't be worse for Gina Rinehart's $10 billion Roy Hill project, which is on track to ship its first iron ore to China next month.

BHP Billiton boss Andrew Mackenzie's remuneration has fallen more than 40 per cent as the resources giant faces up to a global commodities slump.

The Australian share market has opened more than one per cent lower following a negative lead from overseas and the ripple effect from the Volkswagen emissions scandal.

Wall Street stocks have tumbled, joining European equities in falling on worries about global growth and the burgeoning Volkswagen emissions scandal.

US oil prices have fallen while Brent, the international benchmark, rose for a second day as traders continued to weigh the global oversupply and weak demand growth.

The Australian dollar is weaker after US and European share markets and commodity prices fell overnight.