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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.
The Reserve Bank of Australia is confident the economy will gradually pick up pace in the next couple of years, with the labour intensive services sector a key driver.
One of Australia's most prominent businesswomen, Westpac chief executive Gail Kelly, is stepping down after seven years at the bank's helm, to be replaced by Brian Hartzer.
Wall Street's five-day record run has ended after huge fines for rigging the foreign exchange market sent the shares of three leading US banks tumbling.
Oil prices retreated with traders fixed on the OPEC oil cartel which appears set to maintain output at an upcoming meeting despite ample global supplies of crude.