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Australian farmers and dairy processors will get a better deal than their New Zealand counterparts under a free trade agreement with China, the federal government says.
The share market has closed weaker as a rising US dollar, sputtering Japanese economy and pending changes for the financial system weigh on investor sentiment.
Financial Services Council chief John Brogden says a China trade agreement is not enough on its own to open the Chinese market for Australian fund managers.
More than 8,000 Glencore coal workers will be forced to take annual leave as the mining giant shuts down its Australian coal operations due to an oversupply of the commodity.
Fresh slides in oil prices have put some of Australia's biggest energy players under pressure and pushed the share market to its worst weekly performance in more than a month.
Mining billionaire Gina Rinehart is looking to expand her business empire with a $500 million bid to take advantage of booming demand for baby formula in China.
Global crude futures plunged to fresh lows Thursday amid a swamped market as US production hit a new record and the market mulled Saudi denials of a price war.
Gold prices rose on Thursday, as investors reacted to reports of Russian troop movements in Ukraine and Moscow's threats to dispatch warplanes for maneuvers in the Gulf of Mexico.
The Western Australian government's flagged destruction of up to 150 remote indigenous communities is being widely condemned as harking back to assimilation days.