AAP

Optus chairman Paul O'Sullivan has called for Telstra to be broken up.

The huge rise in employment in August and the spike in the jobless rate a month earlier didn't actually happen - the Australian Bureau of Statistics intends to revise most of it away.

BC Iron is close to completing its acquisition of Iron ore Holdings, which was part-owned by media magnate Kerry Stokes.

Glencore International has abandoned its bid to merge with Rio Tinto, a day after it was first made public.

The International Monetary Fund expects Australia will have the worst jobless rate in the Asia-Pacific region, bar the Philippines, over the next two years.

The Australian stock market has fallen sharply following major selloffs in the US and Europe overnight.

US stocks have finished sharply lower after the International Monetary Fund trimmed its global growth forecast while Germany posted a second straight day of disappointing economic data.

Oil prices have sunk amid concerns about slowing economic growth, with WTI dropping to a 17-month low on expectations of a rise in US crude-oil supplies.

The Australian dollar has hit a two-week high, after the Reserve Bank signalled it would not change the cash rate in the foreseeable future.

The share market ended an eventful day slightly lower, with gains by the big miners offset by falls from the banks, retailers and health care companies.

Federal Labor is considering doing a deal with the government to exclude the aluminium industry from the renewable energy target.

Interest rates don't appear to be moving any time soon, with recent falls in the Australian dollar still failing to impress the Reserve Bank of Australia.

Activity in Australia's construction industry is expanding at its fastest pace in nine years, with house building leading the way.

Tony Abbott won't say whether the budget has improved or worsened since the coalition came to power just over a year ago, instead saying it was more "honest".

Newcrest says it is on track to hit its gold production targets for a second consecutive year.

The Australian share market is flat with gains among the major miners offset by the major banks.

Glencore's hopes of striking a deal to become the world's largest miner remain just that, after an approach was rebuffed by Rio Tinto.

The federal government has abandoned plans to force jobseekers to apply for 40 positions a month.

US stocks have finished modestly lower as investor caution returned to the market ahead of Wednesday's unofficial kick-off of third-quarter company earnings reports.

Crude oil prices have closed higher, staging a small rebound from last week's steep losses as a slightly weakening US dollar offered some support.

The Australian is gradually regaining the losses made after the US unemployment rate hit a six-year low of 5.9 per cent.

The Australian share market has closed lower as low iron ore prices weighed upon the big miners and the weaker Australian dollar continued to deter foreign investors.

Don't be alarmed if there is a large fall in the number of Australians with jobs in September – believe it or not the jobs market is improving.

Removal of the carbon tax has dampened inflation, allowing the Reserve Bank of Australia to remain in wait-and-see mode on interest rates.

Telecommunications giant Telstra has completed its $1 billion share buyback, with the offer oversubscribed by almost 70 per cent.

Mining giant BHP Billiton plans to overtake rival Rio Tinto to become Australia's lowest cost iron ore producer, detailing plans today for an expansion of its Pilbara operations despite the slump in the commodity's price.

The Australian sharemarket has opened lower with trading light due to public holidays across half the country.

The Australian dollar hit a four-year low after the release of strong US employment figures.

Gold prices fell to a four-year low on Friday after stronger-than-expected US employment data intensified investors' concerns about how soon the Federal Reserve would raise interest rates.

Wall Street stocks have barrelled higher, cutting the week's losses, after the Labour Department reported the US economy gained a strong 248,000 jobs in September.

The Australian share market has shrugged off weak overseas leads to close higher as a stronger Aussie dollar bolstered banking stocks.

Just a couple of weeks since they last met, Joe Hockey is jetting off this weekend for another meeting with his G20 counterparts in Washington.