AAP

BHP Billiton spin-off South32 aims to cut group costs by 25 per cent this financial year, as part of a broader target to strip costs amid a slump in commodities prices.

Shares in Santos have jumped after the struggling energy giant revealed it has rejected a $7.1 billion takeover bid this week.

The Australian share market has opened lower after a strong US dollar battered commodities' prices.

The Australian dollar has slipped as commodity prices lose ground.

Wall Street stocks have finished solidly lower following mixed earnings that included strong results from General Motors and disappointing figures from Yahoo.

Oil prices have fallen as an increase in US crude stockpiles provided fresh fuel for concerns about the global oversupply.

Gold has fallen almost one per cent for its biggest one-day loss in three weeks on technical selling and long liquidation as the US dollar recovered ground against the euro amid uncertainty over the timing of a Federal Reserve interest rate hike.

The Australian share market has lifted modestly as investors gain in confidence and await a catalyst for stronger movement.

The federal government has dropped its offer to spend $4 million on a research centre to be headed by climate change 'contrarian' Bjorn Lomborg.

BHP Billiton has posted solid production growth in the first quarter of the financial year, lifting iron ore output by 7 per cent.

The Australian share market has opened lower following a weak lead from Wall Street overnight and heavy losses among the local banks.

US oil prices have fallen as traders awaited the next day's US government report on commercial inventories, expecting an increase that would add to abundant global supplies.

Strength in the greenback has stripped away some gains made by the Australian dollar following upbeat comments from the Reserve Bank about the local economy.

US stocks have finished lower following mixed earnings, with the Nasdaq especially weak as a result of steep declines in biotech shares and Tesla Motors.

Gold has risen as solid lending data helps the euro rebound against the US dollar ahead of a European Central Bank meeting this week, which is expected to clarify the outlook for monetary policy.

Falls by the big banks, miners and energy producers have pulled the share market into the red.

Newcrest Mining shares have fallen 5 per cent as the gold miner's quarterly production fell, in part due to two deaths at its mines.

The Reserve Bank of Australia appears in no hurry to ease interest rates, despite rising market expectations of a rate cut before Christmas.

The Australian share market has opened lower as the government's response to the Murray review of the financial system weighed on the big banks.

The Australian dollar has failed to hold on to gains made in the wake of China's better than-expected growth data.

Oil prices have fallen sharply on renewed concerns about China's cooling economy after data showed the weakest growth in more than six years and falling industrial production.

US stocks have finished modestly higher as gains in tech shares offset weakness in petroleum-linked equities following weak Chinese economic data.

Gold prices have fallen for a third straight day as a rebounding US dollar continues to pull the precious metal away from last week's three-and-a-half-month highs.

The prime ministerial 'musical chairs' may have ended but that hasn't changed the tune of a respected economist, who says the risks to revenue remain the same.

The share market's bounce on better than expected Chinese economic growth has faltered as investor focus shifted to negative aspects of the data.

More than 8,000 Commonwealth Bank of Australia customers will share in $7.6 million in refunds after the bank failed to deliver the benefits offered by one of its agricultural packages.

The Australian share market has opened higher.

The Australian dollar has lost ground against the greenback, which extended its gains on the back of stronger-than-expected economic data.

Gold prices have slipped as a recovering US dollar pulled them off a three-and-a-half-month high, but the metal still eked out a weekly rise after gaining in recent sessions on bets against a US interest rate hike.

The Australian share market is higher as investors buy into the banks.

Oil and gas producer Santos has made its first shipment of liquefied natural gas from its $18.5 billion GLNG project in Queensland.

Mining giant Rio Tinto looks set to achieve its annual iron ore shipment target after posting a 17 per cent jump in shipments during the September quarter.