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Oil prices have surged higher for a third straight day, hitting late-2014 peaks on hopes of rebounding global energy demand and production cuts that could curb the supply glut.

The share market hit its highest level since the GFC after the Reserve Bank cut interest rates to a new record low.

Beach Energy shares soared today after the Kerry Stokes-chaired Seven Group Holdings confirrmed it had acquired nearly 14 per cent of its stock.

The Reserve Bank of Australia has cut the cash rate to a record low of 2.25 per cent in an effort to boost economic growth.

Western Australian Premier Colin Barnett has defended Tony Abbott's leadership by taking a swipe at Joe Hockey.

Two men are dead after an explosion at a Perth shopping centre earlier today.

Two of Australia's largest property groups, Novion and Federation Centres, which together own 16 shopping centres in WA, say they will merge to create an $11 billion company.

Big business is likely to still be charged a levy from July 1 even though the Abbott government's more generous paid parental leave scheme has been shelved.

The Australian stock market is higher amid growing expectations the Reserve Bank of Australia will cut interest rates.

The Australian dollar has bounced ahead of Tuesday's highly anticipated interest rate decision, following weaker-than-expected data out of the US.

Wall Street stocks have finished a choppy day with strong gains led by petroleum-linked equities as oil prices rose again.

World oil prices have advanced following data that showed US oil companies cut drilling activity in response to low prices.

Gold futures have closed slightly lower after a volatile session that saw investors weigh higher oil prices against signs of weakness in the US economic recovery.

JB Hi-Fi announced a small slide in its first-half profit and forecast a flat full-year result, while outdoor clothing retailer Kathmandu lost a quarter of its market value after a warning of a first half loss led to a sharp drop in its share price.

The Australian share market has closed higher for an eighth session in a row as a lift in the price of oil boosted the energy sector, and investors speculated on a cut in the official interest rate on Tuesday.

New Westpac boss Brian Hartzer has stamped his authority in his first day as chief executive, in a shake-up that puts the potential Achilles heel of technology front and centre.

The Reserve Bank of Australia will want to keep its powder dry in case Australia's challenges build even further.

The share market has opened higher extending its winning run into an eighth day amid expectations of an interest rate cut.

Copper futures have closed much higher on the London Metal Exchange, as end-of-month purchases to cover open positions boosts red metal prices.

The Australian dollar is struggling near five-and-a-half-year lows amid growing expectations that the Reserve Bank will cut interest rates this week.

Gold prices have rallied after a weaker-than-expected reading of US economic health fanned investor interest in the haven asset.

BHP Billiton is laying off hundreds of workers at its Olympic Dam mine in South Australia.

The share market has achieved a seventh straight day of gains as the Australian dollar falls ahead of a potential rate cut by the Reserve Bank.

Commonwealth Bank of Australia's shares have hit a record of $90 as expectations build for a Reserve Bank of Australia rate cut next week.

Pilbara iron ore producer BC Iron is making deeper cost cuts as it weathers a falling iron ore price.

Strong leads from Wall Street and increasing prospects of an interest rate cut in Australia have driven the local share market higher.

US stocks have pushed higher, rallying after two down days on generally solid corporate earnings and a gain in oil prices.

Oil prices have closed higher after a volatile session that saw the New York price drop below $US44 a barrel for the first time since March 2009.

Gold prices saw their sharpest drop in more than a year Thursday, as investors interpreted the Federal Reserve's comments from a day before to be on the hawkish side, denting the case for owning the precious metal.

The Australian dollar has hit a new five and a half year low, weighed down by growing interest rate cut expectations and a surging US dollar.

The share market has achieved a sixth straight day of gains as expectations of an interest rate cut grow.

The Abbott government is failing to fix the budget because it hasn't been honest with the public about why it needs to be fixed, a leading economist says.